overnight in honk congress. fox business is on it and foxbusiness.com is on it and "willis report" is next. she will be on it. ashley: have a good night everyone. ♪ gerri: hello, everybody, i'm gerri willis. coming up today on the show, think you may want a financial advisor but don't know how to go about finding one? we've got some help. brute it will hit on the field has many questioning the decision-making of michigan's head coach. we have the latest. spending $5, five bucks at the atm we'll have a look at new report on high banking fees. "the willis report" where consumers is our business starts right now. gerri: well the big consumer story today, investors yanking as much as $10 billion from the world's biggest bond fund manager after the resignation of its founder bill gross friday. some analysts estimate gross's

exit could cost pimco $400 billion. what about you? should you follow the herd of institutional investors dumping we have the director of managing research from "morningstar." we also have the manager jkk capital advisors and jack hough of "barron's" dot-com. my concern if you're something in the fund what kind of trouble will you get into? how will this rebound to individual investors, jack? >> i think new managers of the fund are quite good. russ kinnel's made one "morningstar" manager of the year. if they're forced to sell at some point, that forced selling will hurt the bond market and everyone particularly in that fund. i looked how much cash -- gerri: how, how? hang on a second. i want to know how it will hurt the individual investors? >> i think, gerri, the problem is a fund manager wants to know they have a constant flow of cash coming into the fund.

when they're forced to liquidate and investor, you want to buy or sell on your terms, your timing, your decisions not when unexpected circumstances force you to do it. that is the last thing you want to do be forced to dump a lot of bonds on the market that knows you need to dump those bonds. the bond market may be liquid but it is not stupid. >> you want to be with a manager waiting for bargains to pick up stuff at cheaper price. gerri: russ, to you. what kind of difference does this make? does this put pimco behind the eight ball. >> too they're certainly under the gun. negative a year's worth of controversy and redemptions are accelerating. the bond is very liquid. the fund has a lot of liquid positions. i don't necessarily think this means gloom and doom but they're under the gun. gerri: we have a problem pimco managing its fund, doesn't put them in the driver's seat but as individual investor holding shares in pimco's fund, what

happens to me? >> well, you know, really the funds are still priced on the underlying securities. so it is not going to have a big impact initially, unless we have massive, massive redemptions, and 10 billion out of 210 billion is not that much actually. unless we have that much, then it will not have that big of an impact. longer term, obviously we have new regime, new younger managers taking over to guide the fund. but it doesn't mean you need to make a decision tomorrow. gerri: we'll get to that. >> you have time to evaluate it. >> the fund has been experiencing 16 months ofout flows out of the fund. it is pimco's job to do two things. physician's creed, which is do no harm. in other words prepare that portfolio for these redemptions. that is the first thing they need to do, make certain they're prepared for it. the second thing, work on investor confidence. explain to the investors why they should -- gerri: they were out doing that today. i have to tell you, frank, they were all over the place talking

to morgan stanley who has been dissing them in the media. we're here to stay. we'll be around. >> you about the point is, when you spend your decade building around the name bill gross, that is why you have your money with us, now that you have to change the narrative, how do you do isn't. gerri: imless concerned about pimco's management problems but more concerned as individual investor, jack otter, what i find and what will happen to me. >> biggest problem with bond investors we've had 30 years after bond bull market. everyone said it is endings, it is ending. i'm not sure it has ended yet but it will not go forever. gerri: doesn't this put pressure on people to find the right manager and things could change any moment? >> you know me coming on here advocatings index funds. i think there is a place for active management in bond funds but i can't tell you who is the right guy. bill gross, dan luck. spread your bets. have some of those guys managing a portion of your retirement portfolio. put a little bit in the index and cross your fingers.

>> i want to get back to russ for a he can. russ, you have told everybody, "morningstar" is telling everyone you're removing ratings. will reconsider ratings on the pimco fund. what will you be considering? seems to me you will probably consider the things i should know as an individual investor. >> that's right. we're looking at the quality of the new managers. they have got some very good managers. understanding how is that team going to work together? will they hit the ground running on day one or will it take some time. we want to understand flows, liquidity situation. seems like a very liquid fund. we want to understand that. and we all want to understand how everything is going to fit together at the new pimco, how they're going to work things out. also understand what is going to take some time for the dust to settle before we'll really see where they're going. so there is some things we can figure out now. there are some things later. really there is a lot of moving pieces. >> how long will it take you to get the new ratings out? >> we're hard at work on that. so i hope it is not too long but

we want to make sure we've got all of the important facts in front of us before we make that rating. gerri: right. >> and then from then on we'll wait until the dust settles and see three months, six months from now, how do things look. gerri: i think people want answers right now. i was looking at janus for example. look at the fees that will be charged on this bill gross fund, frank? out of control. there is a sales charge on the a-shares, 4.57%. c shares will have back-end load of 1%. all of the fees higher than pimco's. is it worth buying into that fund. >> a home run for janus, let's face it. gerri: what about the individual investor? that is who i care about? >> individual investor, it is not bill gross or pimco. we have many options. that is the beauty of being individual investor. a lot of money managers, bond managers reported inflows already with more money coming in. there is a field that out there. not one or the other. gerri: who are big winners? >> big winners are all the fixed

income managers across wall street. those are the big winners in this whole thing. as far as individual investors go, they need to ask them because it was bill gross and is that good for those high fees? that is question that you have to -- gerri: i think janus will be charging high fees. >> i would say till will be interesting to watch he will swing for the fences. he wants to go out good. he wants to do really well. he can move the needle with a $10 billion fund. gerri: he will be agile, fleet of foot. easy for him to show some kind of gains. if you want to pay for it. that is the big problem. >> that is why they brought him on to bring in money. some money will follow bill gross, regardless of the fee. that is why he is there. gerri: russ, tell me. you said good things. "morningstar" had good things to say about the new management of the pimco fund. are you still satisfied with those folks? one of them was a 2012 bond fund manager of the year the do you have a lot of confidence they can really run this thing and go

great guns? >> well, we have a lot of confidence that these are very good managers. but, they are in a new situation. talk about going into a hot seat? taking over the biggest bond fund in the world at a moment when everyone wants to redeem at such a shocking moment it is a challenge for them. they're very good and worth understanding a fund like this is couple of managers. there are traders, analysts, a lot of specialists contributing. that is one thing gross won't have at janus. he is starting from scratch and building a new team, and so, i think it is worth understanding that you've got hundreds of investment professionals at pimco contributing versus bill gross starting off on his own. other folks have pointed out, there are many other bond shops you can choose from as well. gerri: it is a fascinating quandary for individual investors. we'll leave you out of this question, russ, because i know you're concerned with getting new ratings out but frank and jack, i want to ask you this question, buy, sell, or hold,

pimco total return bond fund. >> i think investors should reconsider positions in light of bill gross leaving pimco. gerri: you say reconsider but what exactly do i do? do you have me watch their performance over time? six months benchmarked against others in the industry. >> pimco is not going away. this is not liquidating hedge fund where they liquidate the portfolio. pimco is not going away. performance has been mediocre anyway. middle of the pack. all-star days of bill gross are long gone. you have performance in the middle of the pack. investors need to say do i want to be involved with all these headlines with mediocre performance and i can go anywhere else get same thing throwing a dart at bond fund listed. gerri: i like that. >> jack? >> i say hold. i know it's a wimp out. i like new management team very much. on the other hand redemptions scare me. it is so big, even with the redemptions, it is such a huge fund it is tough to move the

needle. if they take a 1%, that is huge. if they outperform 20 basis points, how much does that help you the individual investor? i have to tell you very, very little. gerri: hard to make big fund. >> magellan. gerri: people don't have to move as everybody said on the panel with lightning quickness because it is not a stock. it's a mutual fund. thanks to all here, russ, frank and jack, pardon me for forgetting your name for a split second. thanks for coming on. really good conversation. >> great to be here, gerri. gerri: we always cover shenanigans on wall street, right? we like to let you know when bad guys get caught. two former wells fargo employees charged with insider trading. according to sec a research analyst at the firm wrote market moving upgrades and downgrade of stocks tipped off one of the traders before his reports came public. they come one week after wells fargo paid a $5 million fine for insider trading by another one of its

stockbrokers. still a lot more to come at this hour. including your voice. your voice is important to us. during the show facebook me or tweet me @gerriwillisfbn. send me an email by going to our website gerriwillis.com. at the bottom of the hour i will read your tweets and emails. massive blow to the head. look at this, left michigan's quarterback dazed and confused. why, why did he continue to play the rest of the game? we'll have a conversation about that. join us after the break. ♪ you pay your auto insurance premium every month on the dot. you're like the poster child for paying on time. and then one day you tap the bumper of a station wagon. no big deal... until your insurance company jacks up your rates.

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gerri: university of michigan head coach brady hoak under fire for keeping his quarterback in the game after a violent tackle here. even espn commentators said it looks like a concussive hit. >> aaron cochran. he can barely stand up right now. >> they have got to get him out of the ball game into totally with you. he has got to come out. >> wow. coach hoke in a press conference defended his decision, that doctors cleared morris to keep playing. a nfl agent and associates, gene

lee. we formally don't cover sports, every once in a while you have to dip n we've been talking a lot about concussions. little kids play football too, all levels people play this game, getting hurt. how is it the young man was not taken out of the fame because he took a incredible hit. >> you chef been taken out of the game, first and foremost. the issue with a lot of these concussions the symptoms are latent sometimes. hard to see player exhibit. gerri: not here. >> it was visible here. that was the difference. he should have been taken out of the game. gerri: looked like he was wandering. had his hand on his head. he really looked like he was in pain and even confused. you could see it and commentators made just those nets. >> the bigger key here, that brady hoke allowed him to reenter the game after he had taken him out. that is the reason for the public outcry. gerri: what responsibility does he have. the nfl the response would have been different, right?

>> the nfl post-concussion protocols are very defined. if this happened in the nfl, the university of michigan and brady hoak would be fine and suspension. gerri: fine and suspension. this is what hoke had to say. the player was evaluated by our experienced athletic trainers and team physicians and we're confident proper medical decisions were made. the university of michigan has a distinguished group of certified athletic trainers and team physicians who are responsible for determining whether or not a player physically able to play. our coaches have no influence or authority to make determinations if or when an injured player returns to competition. it sound convincing. is it convincing to a trained ear like yours. >> no. as a player advocate, your client's long-term wealth and well-being is long term concern beyond dollars and cents. should be primary concern for the head coach as well. gerri: these are people on college team. they're not getting paid directly. maybe some people would make the

argument, money isn't involved. is that true. >> that is true. he had said that drew morris wanted to stay in the game. he wanted to remain in the game as competitor. gerri: right. >> decision should not be up to the player. it should be up to the head coach. i was at uconn-buffalo game. i saw a player for uconn defense, visably had his bell rung. team's medical personnel examined him. determined he should knot go back into the game. someone took his helmet to prevent him from going back into the game. gerri: they forced him to stay on the sideline. >> someone should have taken drew morris's helmet. gerri: this team was losing in a big way when all of this happened. it is not like you were, in the throes of almost beating, no. they were way behind. like 37 or something. >> it was 30-7 with 11 men's in the game. there was no reason for brady hoke to risk long term injury for this player when the game was out of reach. gerri: what would you tell this player if he were your client?

>> make the right decision. make sure his best interests are covered. his safety is first and foremost beyond any wins he can achieve for the program. gerri: sound like a good way to go about it. eugene, good to see you. >> thank you. gerri: we want to know what you think. here is our question tonight. are coaches putting college kids at unnecessary risks on the field? log on to gerriwillis.com. vote on right-hand side of the screen. i will share the results at the end of tonight's show. later in the show, why have markets been so volatile late ily? we help you find somebody to help you navigate that. we have advice finding a good financial advisevisor. stay with us. ♪ ♪

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gerri: hiring an advisor to manage your retirement savings could be like a financial strip search. you share all of your financial secrets and you pray that the advisor is up to the task. fortunately, if you find a good visor the trouble can be worth the effort. how do you find that perfect fit? ed butowsky, wealth manager, financial visor and managing partner at chatwood investments. ed, great to see you. a lot of people want to hire a financial visor. they don't know how to get started. what are steps number one to get the perfect person? >> i mean the perfect person, first of all they must ask one question right off the bat, if you're sitting down with a financial visor or planner and they don't ask you, how much money do you need to make? if a lot of times people will show up and start telling you need this mutual fund and this stock and that bond and they never asked you at any point in time what do you need to make and how much downside can you handle in a 12-month period?

if they don't ask you that question, walk away. gerri: ed, another complicating factor, there are all kind of different sorts of people you can hire. hire an old-fashioned broker. >> that's right. gerri: hire a certified financial planner. it is alphabet soup of people with different kind of training. what make sense for the average investor? >> one thing i would not do, i will get a lot of emails, i would stay away from people who sell insurance products because they're out there selling a product. there is not a lot of financial planning behind them. i like financial planners. i speak at a lot of financial planning conferences. i learn a lot from those people. i think they're excellent. try to focus on a lot of big investment firms. they have a lot of great software that helps you understand what you have, what you think you're growing to have down the road in terms of continuing, continuing to invest your money and i like them. gerri: big first, don't the big firms, specialize in telling their guys how to sell product? isn't isn't that what they're all about? >> they eventually get there, gerri, that absolutely true.

at the same time they have good software. some big firms invested a lot of money. it's a good place to start. you will have different product salespeople in there. be careful of that. but they have got good software. if you're looking i would look there along with financial planners. gerri: i'm hoping i don't use the software. i'm hoping they use the software to give me good recommendations to invest in. >> yeah. gerri: one of the questions i have, how much am i willing to play? i know how to pay for mutual fund, advisor for his or her services. what should i have to pay? >> a great point and great question, people who do what i do for a living, our income on assets have dropped 70% in the last 10 years and it is going lower. so i would not let anybody charge more than 50 basis points, a half of 1% on the money they manage and don't ever let them charge a money market or on bonds or on concentrated stock positions that you own. they should never get paid on that. if you have an visor who won't

explicitly what they will charge on, that is pink flag that should be a red flag to you. gerri: half of 1%. one of the interesting numbers that found in researching this today, 52% of preretirees, 44% of retirees, have a financial planner. and i would have thought both of those numbers would have been higher and, the proportion of retirees with professional advice would be higher. what is going on there? >> yeah. well, i think people have access to information, has given people the understanding going through the internet they might be able to do it on their own. quite frankly after really getting to know a lot of people in my industry, a lot of these people do know a lot more than advisors do. i don't have a problem with people doing it on their own, gerri. here is the really important point. they underestimate what their cost of living increase is. so they're doing their planning at a 2 or 3% increase in what they need to make year-over-year. they got to check it. more like 7 or 8%. if they don't factor in how much more it is going to cost them the next year, they will run

into problems in later years in life. people need to overestimate the cost of living increase. gerri: no doubt. i'm not going to be able to calculate everything. it is tough. you can do it. you can find the right software and do it. >> that's right. gerri: i have to ask you, what is that financial advisor going to bring to the table that i can't myself do by just educating myself? >> well, a lot of it you can do by educating yourself and people in my business need to do better job making themselves more valuable and know what they're doing much more. most people in my business, barriers to entry, some cases they have to fog a mirror and pass a test. they have to do more than that. we have to step the up in our industry to do better job for our people. i think our industry is not doing a good job. people are not retiring with enough money. we need to step it up a lot more. gerri: thank you, ed. i agree with you. more could be done. everybody sits around and feel guilty how much they haven't saved. we could get better advice.

ed, thank you. >> we do. absolutely. gerri, thanks for having me. gerri: now the latest developments on that fallout surrounding a massive gm recall. at least 23 people have died and 16 folks were injured seriously in crashes involving defective ignition switches. according to the head of the compensation fund, ken feinberg, he says he received 153 death claims since august 1st. of those he deemed 23 eligible so far. that is up from 21 last week. claims are being accepted through december 31st. we'll continue to update you on that story. coming up next, the faa is warning it could take weeks, weeks for things to get back to normal after friday's chicago sabotage. we'll have a live report on that. massive protest underway in hong kong, roiling international markets. how will wall street reacting? we're looking out for you and your money next. ♪ (vo) rush hour around here

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how much money do you think you'll need when you retire? then we gave each person a ribbon to show how many years that amount might last. i was trying to, like, pull it a little further. [ woman ] got me to 70 years old. i'm going have to rethink this thing. it's hard to imagin how much we'll need for a retirement that could last 3years or mor so maybe we need to approach things dferently, if we want to be ready for a longer retirement. ♪

>> well, we're always looking out for your wallet here. we're also looking for your travel dollars. with the federal aviation administration responding to traffic control sabotage from last week. an employee started a friday in an attempt to commit suicide. fa said it will take about two weeks to get everything up and running. jeff. >> giving you a unique perspective at this hour. you see flights coming in at about 60 maybe 70 percent of capability. that is an american just touching down, i think, unless my eyes deceive me out there. and, you know, things are heading back to normal, but nowhere near there. i think it's a united flight now that i look at it. take a look at the numbers when

you see o'hare compared to other airports. that compares to reagan with eight. pittsburgh just a handful. it's still nowhere near back to normal. just to give you a perspective on this whole thing. you talk about the aurora center being shut down. one of those old control towers handles flights on the ground. it's the auer handling the high flying flights. that one is a mess. water damage, smoke damage. gerri, i should say brian howard the fellow who was responsible for this or at least is believed to be responsible for this appeared in court within the last couple of hours saying sorry. his attorney saying he was facing personal demons. the question is, is this something that could happen again perhaps a problem with a terrorist? the fa administrator speaking

today said that they are now going to review all of their procedures at air traffic control procedures around the country. michael saying, believe me we're using existing tools to maximize operations and developing new tools to return to normal services. but as you reported at the outset probably two weeks according to the fa administrator before the aurora tower can handle traffic again. until then, these flights landing here being handled by centers in into a place, mississippi and other locations kind of taking the load while this one is down. gerri. >> we always rely on you to give us a great perspective. you're always set up in a great place. thanks for being with us. >> appreciate that. thanks, gerri. thank you. >> incredible footage. did you see this? coming out of hong kong.

pro democracy, and auto tear gas in one of china's biggest political challenges in 25 years. the growing unrest injecting fear into today's markets. the dow jones dropping. recovering your assets with liz miller. liz, big sell off. and my question for you: why do the markets care so much about hong kong? >> well, i think the markets care to a certain extent about hong kong because china is so critical to all global trade. but if we look over the past year, look at how the market shrugged off ukraine shrugged off so many things in the middle east. here are the student protesters. i think the other thing are that investors are ripe for any type of fear. >> you think it's more about an underlying worry/fear. they're going to change their

attitude with any news headlines. >> i think investors are feeling that way. we might get another new high in the market, and investors are a little bit cautious about that all that profit. >> this is the second week we've seen big changes in the dow. you say investors are fearful, worried. is that going to be the tone this fall? >> i think we could see more volatility. again, if you look at the broad averages, the dow and the s&p they have seemed so flat, but actually underneath those big averages you've had a lot of internal volatility. dow down 10 percent. but it gets lost in the inteeses when we see the ten name -- >> if you pull out the great big names in the nasdaq, it's a disaster scene. but there is some good news in

the marketplaces. we know that consumer spending for august was up. personal income was up. it should be the thing that the market is reacting on. >> i agree. we see these markets following the economy. we got that consumer news today, and you look at the other news we've had over the last month or so. we've seen good manufacturing numbers, good investment numbers, all signs of economic cycle that is getting a little later, but still very healthy. >> and, liz, quickly you're a financial advisor, what are you telling your clients. >> stick dot allocations, but review where the value is. there's nothing wrong with taking a little bit of profit in some of these individual stocks that have done well and reallocating to some interesting areas that we see. >> and when we come back a look at how the recession has changed the way we stop forever.

it's getting more and more expensive to get your own money. as a new report shows shocking atm fees. what you need to know to save some cash. take a look at the numbers that are important to you.

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it's just got pricier. according to from a report from bank rate these jumped 5 percent. 5 percent. here is chief financial analyst greg. greg, welcome back. this number frankly blew me away. ay.ould not believe re o using else's atm. and they're going to make you pay for it. >> you're not talking about one fee, but two. your bank will charge you for going outside the network and what we've found from the survey every atm -- so you've got two fees, your bank and the atm owner. >> i think most people don't realize it's doubling up. it's so annoying to have your own bank charge you too. let's talk about what this looks like when you go across the country. for example, in feengs phoenix you may pay 496.

let's look at the average atm fees. denver, houston, they have the highest fees. >> a lot is just the -- the message to consumers there, not everybody charges the same price and if you're in a place where the fees are on the higher end, it's all more incentive for you to shop around. make sure you're getting the best deal you can. >> we'll show you the lowest average atm fees. cincinnati leading the pack. la. and you say it's about the mix of banks. you also had some news about overdraft fees. what is the average and how much is it up? >> the average $32 and 70 cents about the same pace of inflation. it's up for the 16th consecutive year. year in, year out we see these fees going up. just like with the atm fees, the

reason we see these fees so consistent, they're the low hanging fruit. i think as a consumer, you have to take, aim for zero. >> aim for zero. so overdraft fees, how do i opt out of that? >> you can opt off overdrafts by an atm and debit cards, it doesn't relieve you the obligation of monitoring your accounts. if your balance is so low that atm transaction will overdrawn that check you wrote yesterday will not clear. >> that's true. >> so keep tabs on your available accountant balance. >> it's so easy. you can do it on your phone. >> so do that 24/7 access make sure you know what's in there. you can sign up for email, text alerts. >> it doesn't is have to be that

hard, right, greg. >> no it doesn't. >> it's great to have you. now, we want to hear from you many across the country calling for michigan coach hoke they want him fired after keeping his quarterback in the game following a hit to the head. are coaches putting kids in uneconomies risk on the field? one viewer writes coaches in general know, but there are incompetent folks starting a fight there. on facebook, randy posts, these are not kids, they're grown men that made their own choices. they should have taken him out of the game. no game is worth the life of the player. unbelievable story. the recession may be over, but the impact on consumers continues. have spending habits maybe changed forever? we'll explain after the break.

>> americans are ready to spend. seven years of keeping their wallets tightly closed and consumers are opening them once again. a consumer report survey found seven out of ten people say they finally feel flush enough to make purchases and decisions they've been putting off for five years. the recession has turned consumer spending habits on their heads. the senior editor of consumer reports. how is this changing permanently consumer habits. >> just as the recession profoundly the generous in the 1930s so too has the prolonged

recession that happened till nine will have profound ramifications that will ripple today. it turned the american he spender to the american scrimper. for many years, people put off life decisions, marriages, divorces, having children, home improvements, buying homes, buying cars, because they did not feel flush enough, but now they're beginning to open up those wallets. we've changed profoundly insofar as we're not the spendthrifts we once were. we're very cautious, we're very worried. people don't that have that stability. stability that their jobs will be here next year and that their earnings will keep up with inflation and be able to pay their bills. they're also concerned of advancement. they're not as optimistic that the future looks all that rosy.

again, we're smart ear, we're beginning to open up our wallets once again. >> it's fascinating the results of these surveys. the things they were spending, groceries, personal services, if you're spending more on it it might be because it just costs more. >> that's certainly true, but we asked people's attitudes and behaviors in light of the recession. if you got a tax return last year, what did you do with that money? >> a refund. >> i'm sorry. not a return. if you got a tax refund last year or if you won a mythical lottery, what would you do with that money? the majority of people were very conservative. you might say, we'll buy a luxury car, go on vacation. most people said they would use that money or they did use their money from their refund to buy

food, groceries, pay off debt, pay their energy bills to fix up their homes. very pragmatically oriented. >> so the things they will spend money this year, electronics, a home remodel, now, that's an interesting list right there. and i think the cars on the road right now are the oldest they've he ever been in this country. people have been driving these cars a long time. >> true. cars are older, and it's going to get older for at least another year. but? 2007 the average is 90.9 years. now, it's 11.4. so part of the upgrade has to do, hey, we've put it off so long, we got to get something new. people are feeling more positive, though. with homes, not just are people buying homes, but sellers people who want to put their homes on the market have an optimistic

outlook of their homes doing well. in other words, they're more optimistic about sales than they have been in eight years. >> i thought it's entertaining what people won't cut back on now. premium streaming tv. manicures, pedicures. i thought that was luxury stuff. >> 38 percent of people said they won't give up their tv channels. i'm not cutting back on my cigarettes or my starbucks. but fewer people are also holding garage sells. fewer people refuse to take a second job. maybe things are getting better. we do draw the line somewhere. >> i have to ask you how people are being frugal. a couple of things, stay indications, bringing your lunch to work, waiting longer to get a hair cut. >> these are kind of common

sense everyday things we can do to save a few bucks here and there. more people are doing that. maybe that's a good thing. >> thank you, todd. >> my pleasure. >> we'll be right back. and the answer of the day, are coaches putting kids at unnecessary risk on the playing field?

>> michigan coach brady hoke is taking heat not only for another defeat, but for his handling of quarterback shane morris. are coaches putting kids at unnecessary risk on the field? we asked the question. 43 percent of you said yes, 57 percent of you said no. go to gerri willis. we love hearing from you. los angeles marijuana growing operation. was busted after the police saw everything on youtube.

an area filled with marijuana plants and there's a discussion of growing conditions. police said they counted 67 plants at the home of jason and stephanie pelletier. the couple will be charged with intent to sell. i cannot leave the bill gross story alone. chances are his i can sayit from pimco, but this is one story you would be wise to pay attention to. the plane vanilla. it's everywhere. more than half of the nations four owe 1ks offer this fund. should you follow the herd of investors dumping shares today? here's what i think. you don't have to do anything. you don't lose value because investors are selling. the cautious strategy is to sit back and watch for six months and make sure the fund performs

as well as rivaled. if you're not the cautious sort, you might consider flipping it to a bond index funds. the good news, these are low. the bad news the federal reserve, if they decide to raise rates, you'll suffer too. if any of the funds you invested in last year recorded a positive return, you might consider putting your new investment dollars into that fund. you'll want to find a place you're comfortable with because the next few years could provide some serious changes to the bond world. that's my 2 cents more. and coming up tomorrow i'll be sitting down with the craig boundy. what can consumers do to protect themselves? i'll ask of him how consumers can use big data to their advantage. that's it for willis report. thanks for joining us. don't forget to dvr the show if

you can't watch it live. making money with charles payne is coming right up, i promise >> some big news story moving the market. protests that began sunday continue to explode causing chaos in hong kong sending our market you much lower at the market. and the nation is still -- first fox news henry from the white house with the latest on isis. >> charles it was only yesterday on that the president appeared to be flowing eric clapper under the bus saying that he had underestimated the threat from isis, that they in the intelligence community had not seen it coming. today you saw josh earnest try to put the breaks on that bust they s t