tuning every weekday for mornings with maria right here on foxbusiness hope you have a great rest of the weekend everybody thanks so much for joining us. thank you elsie again next t >> hello welcome to the wall street journal at large. it's a time for celebration, reflection relaxation and indulgence as we come together to enjoy the holidays look for jr. for millions of high school seniors the less about joe enjoying the festivities and more about anticipation and stress. as colleges began notifying those who applied for early decision, whether they've been accepted. in january deadlines loom to apply for regular admission. now getting into college and graduate with good degree is seen as an absently essential to

job and lifetime earning prospects these days. sure we have the model of college dropouts like bill gates and mark zuckerberg to inspire us, bonilla sure and entrepreneur a genius like them you're going to need that diploma. but in recent years the cost of colleges made some whether the investment is really worth it. students sign up for education loans that leave them tens of thousands of dollars in debt. with the average annual cost of in-state public colleges more than $25,000 and doubled out for private schools, paying for an education can be as important addition as what majors the schools are offering. what's more, a very high cost of higher education is taking its toll on some colleges and universities. growing numbers of schools are struggling financially. with the widening gap between the leap and the very wealthiest colleges the top of the buried and those many more beneath them. so today were gonna take a look at the cost and value of a college degree. how the schools themselves are going to try to keep our education oil the rich can afford. we'll also see the colleges are investing and using the billions

of dollars in endowments under their care. well to help us go through all that and much more, and look at what's happening educate today's weather most respected's university of notre dame. scott thank you maturing here. let's start off if we mammon to put some figures up on the screen for you, just to look at notre dame's own endowments under your leadership under the last 30 years. here it is, so the total endowments at $30.8 billion for 2019. as we go through we can see the growth his been really impressive in 201920. to percent and even stronger at 2018 at 12-point to percent and let's quickly look at the way the endowment has grown over that 30 year period from almost 14 billion today. it's been a remarkable run since you've been in charge throughout that time. so we know it extraordinary role

you played. tell us first of all how you have managed to attain that extraordinary performance? >> will jerry i'll tell you does start with having tremendous support from our board. you work at a major university the investment of the board is critical to the endowment operation. and we've been so blessed with great leadership there. and then stability. we are kind of unusual institution. we've had three presidents since 1952, i've had two chairs of my investment committee since 1978, i've been there 31 years, four directors over 20 years. so that kind of stability and consistency is really important in investing as you go. and we've been able to just build great relationships with a top over that time and it's been a tremendous blessing. >> we look at those numbers and i think the annual growth averages around 10% over the last several years. so how have you managed to outperform most asset classes in that time.

tell us about the investment strategy. >> will live at jerry's we get access to the best. given our brand institutionally, we have a great team, they've got a tremendous office with really committed people, we are out there every day. i think we interview 800 investment firms all over the world. so were really looking for skill, really talented people. really hire a few a year. even though were talking to a hundred, a lot of is that consistency over time meeting a lot of people, finding the really good ones, and then hoping to develop relationships for 30 years. >> and let's look at what you do with that in dalia endowment. the ninth highest private university in the nine states, again a remarkable number. but it's a lot of money. it's like the big ivy league

universities with even bigger endowments what you do with that? people are still paying a huge map for college tuition even though you've made an extraordinary words turn on your endowment. words go? >> about a third of it goes to financial aid. with a very committed to that will the entire time i've been at notre dame. something we talk about the leadership group and our board in our financial stewardship committees. it's something we've been very focused on. we've got the catholic thing : we got the morality of that and how much funds family have if they can afford it. >> how many people are getting financial aid. >> about half of our undergraduates get it. >> as a notre dame payment over $70,000 a year is it. you know how many people are actually paying that and how much are getting significant aid? >> about 70% of the students are getting some made that's includes federal loan programs rotc, et cetera. our alumni clubs have scholarship funds. bed about half are "getting real" grants, and the average grant now is jerry's about $42,000 year.

so the net price for people getting eight is actually under 30,000 dollars. >> are you comfortable, do you say to people look there is no -- if you want to come here if you're good enough money is not going to be a problem. it's affordable. >> there's only about six institutions that are like us. >> sort doesn't matter if you come from a very, very poor background you're going to get essentially all your costs paid. >> hundred thousand dollar costs for families there getting on average about 61,000. so they're basically not paying any of that tuition. >> so people do wonder, a large sums of money but not all families are paying for college education. is it worth it? that cost is gone up a lot last 20 years. we all understand it's important never college degree. but is it worth that kind of investment? she dissents from the students of the people you see and they

going to graduate are the actually benefiting from all that money they've put out? >> absolutely there's a tremendous value for a college degree in general. the lifetime of earnings is significantly hired from those that don't. if you go to school i could notre dame earn ivy league school that gap is can be even wider because you've been given opportunities of the kids just don't see. the value is tremendous. >> why has the tuition gone up so much it seems to outpace general inflation. >> say have a price. the cost of education students is actually much higher than the price. the only pay about two thirds of the cost. and so we have to raise money. we get grants and contracts, we have endowment fund, there's other revenue sources. athletics, number of sources for that. but quality is expensive. in the faculty, you just talk about trying to recruit and retain the best faculty in the country. technology, we have open source technology that's expensive. financial aid.

>> it's quite a political issue of democrats with them promising public that would actually eliminate public desk. >> nationally is a concern but frets primarily graduate students and those are good institutions fail. and then they don't get anything out of it and they have all this debt. at notre dame, we will not allow, on average, student to graduate with more than 10% in debt of the cost of attendance. so tune in 75,000 or four years they want them to be under 27,000 in a section more like 15. >> rent take a quick break, coming up next were going to look at the markets and scott's approach to investing in what he things about the economy in the marketplace. the epson ecotank. no more buying cartridges. look at all this ink it comes with. big ink tanks. lots of ink. no more cartridges. incredible amount of ink.

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dame. scott one quick one final question on the cost of college. there does seem deal widening gap between the very wealthy successful colleges like notre dame, the ivy league league ones and a lot of other universities that are really kinda struggling financially. is that something we should be worried about? or just some of these colleges are we just can have a shakeout. >> there's going to be a shakeout that's for sure the more tuition dependent are starting to out of business and were going to see more of that. but the more lead schools that have resources are in terrific shape. in many ways more accessible than ever before. because of the resources. >> was talk quickly about the investing climate right now. it's a very strong we are in a strong bull market with equities. bonds are coming off a little bit today, but have been pretty strong. we have just this week, friday, had very employment good employment numbers. what's your outlook is look over the next year over what opportunities you see?

>> feels like it's accelerating globally a bit. i think a son 95% of central banks are loosening. that's good for markets. i think there's some predictions for global that's up from this year. i think maybe half 8% in aggregate. so pretty good. you've got 11 years of a bull market, that's the longest ever. i was get a little nervous when evaluations are hi, but because of her time rising, were not obsessed with that. we know were gonna work right through that. but were seeing some really fascinating things. biotechnology and some of the market buyout funds including europe where the banks are struggling. >> what are the major risks you see in the next year maybe the trade picture evaluations? >> there are so many of their political risk in this cycle more than a typical cycle. the u.s. china trade. the selections in europe and the

u.s. next year. but also total debt in the world has increased since a crisis like $72 trillion. i think corporate debt is up similar to that like 66 trillion. so there's a lot of debt creation. >> when interest rates are low that doesn't bother you but if rates go up that's a problem. >> one thing that's been growing enormously to impac investments ethical investing. for a catholic in the universe like much or dame how is that work for you? >> it's very important and we have a very robust approach of this period of several 13 this meant a lot of time on it. for decades we've had a typical policy will be restricted various sectors that are go along with catholic values particular the healthcare policies and stem cells. i am actually a huge fan of these new movements here in the last ten years of esg and active investing.

they all sort of fold into our existing philosophy. now we are fiduciary we have to have balance a lot of them haven't historically had returns but there are more opportunities and 70s areas like renewables, alternative sources of civil fuel, or sing a lot of interesting new platforms there that did not exist ten years ago. >> you get pressure from students or others on these issues? one in particular, young people with the environments, the extinction rebellion at all the stuff. they have pressure on you to disinvest from carbon? >> i wouldn't call them. are i meet with students all the time on these issues. to think a lot of it is they don't know what were doing. so i explain kind of the history of what were doing, the reality of that, they generally coming away feeling much better. >> i feel responsive to communicate exactly what redoing and whites were students and faculty.

i think that's my responsibility to make sure they understand that. and i can disagree ultimately, but they generally appreciate and we have a serious way of doing this intruder values. >> will take one more quick break that will suit the future holds generally for catholic education in america. stay with us. may 1 of '75... the magic moment. congress really democratized wall street... i wanted to have a firm that wanted to get everybody in. because people couldn't access wall street. we wanted to be agents of change. for the better. ♪

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and my side super soft? with the sleep number 360 smart bed you can both adjust your comfort with your sleep number setting. so, can it help us fall asleep faster? yes, by gently warming your feet. but can it help keep me asleep? absolutely, it intelligently senses your movements and automatically adjusts to keep you both effortlessly comfortable. and will it keep me in the holiday spirit? yes! with comfort and joy. so, you can really promise better sleep? not promise. prove. and now, save up to $500 on select sleep number 360 smart beds. only for a limited time. i am once got from notre dame university. scott notre dame is a great catholic university in the country in the world, we've gone through a time when campuses around the country, around the world in fact students are becoming shall we say, the right

way to describe it, increasingly critical of certain types of speech, hostile for certain types of speech and what they regard as perhaps traditional old-fashioned ways of thinking about gender and race and sexuality. all of that seems to come up again in some catholic principles. how much of a concern is that it notre dame? do you see pressure in a way that works against traditional catholic values? >> will jerry think it's important, look or university, so it is important to allow people to speak and have an opinion. and have constructive dialogue in an appropriate way. our president, father john jenkins who is terrific and is done a great job doing that. and that's hard to manage. but yes, there's online dialogue in various sides and issues. catholics are also have a spectrum of views on various issues. so it's an ongoing challenge, but i think were navigating that as well as we can. >> q. were generally about the free-speech climate in this country that feelings are hard

harder and harder to hold onto? >> some very disappointed suits happening at other institutions. when people have been invited to speak we try to avoid that. >> with catholics again, there is a range of views among catholics but straight catholic teaching on things like sexuality. abortion, divorce, and some of the other issues you can see an age, and notre dame was involved in institutional level of challenging some of the obamacare especially of abortion. and i wonder how you see these values again mark being marginalized or even sent to some extent actually banned from in terms of speech, and the way people communicate. >> i think at least that notre dame were good at doing that. we will continue to be challenged to do things, we have to be true to our values. you have to pick your battles, jerry, there are some core

principles marking to give it on because we are catholic university. but there's a range of ways which we can allow the campus to dialogue about these issues and we've tried to do that. i know other schools have tried as well, it's only going to get increasingly complicated. >> so in an age of fewer fear people being churchgoing even in america, and europe and elsewhere. what's the role of a major catholic institution. looking to future doesn't have? >> we've actually found with increased secularization we have found students who want to have a spiritual life who value morality, and who value character are really drawn to notre dame. and actually more so with faculty. we are getting some outstanding faculty who in lead the institution. they leave their current institutions because in a full council practicing their faith. so that's bring us a very instinctive institution. >> other catholic institutions and of this country have more deemphasize the calf lick of

their institution. that's not true of notre dame is it? >> absolutely we cherish that and we always will. >> in house important is it to maintain, do you think the religious values in public life more generally. how much, this time were coming up on christmas you think those values are. >> we need them more than ever. there is such a dearth of leadership at every level, and that's every one the things i love about pope francis if you are catholic for the leadership is trying to show. with certain issues related to morality, i'd like to see other leadership and our society in countries and governments. we need more leadership. >> certainly helps if you have a big financial base the way you have it notre dame. >> we've been very blessed. >> thank you for joining us. up next to what one key aspect of the blooming u.s. job market could mean for the 2020 election. stay with us.

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this week we got an almost perfect framing for the terms of the debates that seem likely to dominate next year's election campaign. presidential character, versus what they say the economy stupid. on thursday house speaker nancy

pelosi instructed the house judiciary committee to drop articles of impeachment against president trump. saying he abused his presidential powers. although the house will probably vote to impeach the president, the very unlikely at this stage that it seems the senate will vote to remove him from office. instead democrats are hoping to make the president's behavior and character of the key issue for voters in 2020. then on friday we got perhaps a better counter arguments than any tweet or speech from the white house. the monthly jobs report, published by the jaybird job was of absolute blockbuster. the unemployment rate fell to three and half% which is a 50 year low. and most important of all wages posted another month of healthy gains. now much of the benefit of the wage growth in recent years has improved to the advantages of less well-off americans. according to indeed, job finding site for uses from the labor department.

in the last two years wages for the lowest paid workers have been rising at an annual rate of over 4%. that's the highest sustained growth in well over a decade. and far outstrips the growth for other workers in the economy. so next year's election will take place on an economy that generates significant gains for most americans. especially for the less well-off. now many of those were trump supporters in 2016. the democrats. and a lot of time over the next year to wing them away from the president saying he's unfit to hold office. but with an economy that's

delivering for them in ways it hasn't for many, many years, that could be quite a tough sell. well that's it for this week, for the latest show updates be sure to follow me on twitter facebook an instagram. and i'll be back here next week when i'll be talking about some of the biggest topics in the country today. with the attorney general william barr. that's right here on the wall street journal at large. thank you much for joining me. welcome to barron's roundtable where the sharpest minds on wall street need to get behind the headlines and prepare you for the week ahead. i'm jack cotter. we will begin with what we think

of the three most important things investors should be thinking about right now. google cofounders larry page and sergei brennan star stepping down as alphabet ceo and president while investors see big changes under new ceo. despite a strong november report, this years jobs data may not sell the whole story. and the long-awaited viacom cbs merger is complete. what's next for the company and is it now and underappreciated play on streaming? on the roundtable tonight my colleagues ben and jack. loewen will start with you on alphabet. big changes in the sea sweep the people i talked to said this is an adult taking of. >> in many ways that's correct. the founders of the company, page and brin have been stepping back gradually over the years. this is an opportunity with the management change should turn a great company into a great stock. that's from our perspective. and we have a to do list for

them. to make them a more transparent, to be more willing to shareholders it's a wonderful opportunity. i think you know adam runs partners comments one of his biggest positions. he's excited about this. he wants to see a hundred billion dollars in buybacks. that's a lot of money back and forth. >> but for how long. >> a dividend would be a nice thing. >> we think the company could do about 30 billion a year in buybacks. they could easily sustain that. they could certainly pay 1% dividend which would take them to where apple is and where microsoft is. we think it's an opportunity to examine some of the other that's that alphabet has made. there's healthcare and other sorts of things. but trying to decide which of these largely money-losing properties. >> at theirs' your someone you by staples. it's like a staple but it grows. >> but its extraordinary decides that company is.

but not in monstrous companies like this. do we think that this kind growth is sustainable? >> i think so. i think there's a lot they can do here. i think the products are in great demand, and i think for a while it is. and the ideas to get earnings up to growth the same rate as revenue while also rewarding shareholders when the accompanying has a ton of cash flow. and it can do a lot more for shareholders. >> you can go to popular like maps where they've only begun to ring the register on maps. >> i thing there's a lot of room for them to make more money and they just bought fitbit. and now she's gonna bring them out there to do what you can have more place to look at their data. >> and maybe tiptoeing into healthcare. see maxell benson we had a blowout jobs number on friday 266,000 jobs created. upward revisions in the past, and yet you are not so excited about this. tells why. >> verse well let me say this was a fantastic jobs number beat

expectations. it was so good that it be the highest prediction of any economists out there. that's how good this thing was. but it's only one number. we see these numbers fluctuate a lot we've had a number came in below hundred thousand every freak south of the company is not doing well. now we have a great one and everything's great but these numbers are just volatile. >> he certainly looked the three month moving average but that's still good. >> that's a lagging indicator tells us where the economy has been that where it's not going. need to look at the leading indicators and were still seeing manufacturing is still weak. we had a very bad manufacturing survey this week. were seeing those things aren't looking as great. i want to see more. i would see more improvement elsewhere not just a great.jobs over. >> i was worried juergen and tried make lemonade back in the lemons. i'm glad to hear you say you like the jobs. >> jack i'll turn you now cbs viacom they split they got together they split they got to get another back together again

what's going on? >> paul patrol the cartoon about for a first responders has been popular in my household and i know yours, that's a viacom property. just to be clear it's popular with our children. the key here is that there is a war for streaming content disney is pulling its children's content away from netflix. now their support of streaming servers. viacom has loads of children's property nickelodeon, dora the explorer, mutant ninja turtles and so on. it's a position that symbian arms dealer during the streaming race. they combined cbs, suddenly the largest player in television there's loads of rooms with buyback stock. i've met a couple of times of bob bacchus, the chief here, and he strikes me as someone is going to pay very careful attention to free cash flow. he's willing to sell content to other people he is willing to use that is on streaming service. or is gonna try to double dip if he is able to.

so i think there's plenty of opportunity here. >> of course interesting chicago war it seems like viacom got the name, their taking over, but what talk to some of the cbs who pointed out that operationally is ahead a sales from cbs. you know the guy was running affiliates from cbs. so we might see a lot of that magic still there in even under viacom. >> viacom had some weaker assets to begin with, and bacchus has done a great job before stabilizing and then returning them to growth. to the paramount film studio, and cbs a much stronger set of assets that he could put that same magic to work on. still a lot of work at. >> coming of our small-cap stops going for breakout? the cannel panel is going to discuss that. on the outlook for 2020 why investors shouldn't let

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print about... this many pages. the epson ecotank. just fill and chill. every year barron's convenience assignment for the top women financial advisors in the country. this year about 700 women collectively manage more than $1 trillion joined us in palm beach florida. three attendees sat down with us to talk about the investment outlook for 2020. j.p. morgan's gabriella santos, valerie newell. gabriella, give us the 30,000 dollars jp and asset management 2020 outlet but are they have. we think for the global economy as well as the unisex economies resilience and stability. resilience we don't expect in a region to go into recession next year. in the stability in the sense

that after two years of deceleration and economic growth, we think were stabilizing here at a moderate but positive pace. so i think translating that into investing means that we should be able to see positive earnings growth for the major regions and that we should have a positive year for outlets. in terms of interest rates, we think that after quite a year of monetary easing from 19 different central banks, were probably closer towards the end. especially in the u.s. but rate should stay incredibly incredibly low supporting fixed income and supporting this recovery. >> so one thing work honestly telling people's don't worry about all the headlines in the tweets, think about the long-term. that said, and you report it, and i that you.out that geopolitical tensions are still our real risk we need to worry about. >> it is in two main ones really have been having an impact on economic growth on sentiment, and it's really the idea to rub trade tension. so one of the major assumptions

of had to make his were not expecting any further trade shocks are any further escalation. but this will remain a lingering issue into next year as well. the second when there is more important for the uk and europe the expectation there is that we will see some sort of resolution to the threat of note deal. these two issues are important, we shouldn't overreact day-to-day but rather look into the general theme that were saying and it's one of a slightly better 2020 than 2019. and one more thing really, annie think it's a great message for investors you have a chart showing the democrats with the comedy versus republicans. >> so the moment 80% of the republicans think it's excellent only 30. 33% of democrats. were looking at this same thing looking at google pulse. five years ago it essay democrats felt much for the republicans, for years before that it was the opposite during the george bush presidency. >> is the county much difference?

>> no it's not the message to us as we cannot let politics get in the way of our long-term goals here. >> so carmel tells your nonpartisan advice. what sectors do you like? >> i completely re- agree with her review that we should be focusing on the stable companies where the deceleration is slowing we are probably going to hit that inflection. so i would be arguing that you should add some they should have a company that has good secular growth and still will benefit if we get the trade deal. and from the rising growth in the economy. so the sectors i'll be looking at our one is healthcare, regardless of what the cycle does, regardless of what is tweeted or what happens with the trade work, there is a number of companies that are producing new technology and new therapies that are going to be idiosyncratic,. >> and that means they'll do

well number at the economy does? >> exactly healthcare in small and mid-cap cap names are where a be focusing for the long-term. >> on the other side the term we don't like. >> people been looking for somewhere safe. i would argue that that's arty priced in, so i'll be avoiding utilities why the evaluations are more than one state above the deviation of their average. and consumer's april staples we just don't have the pricing perry used to have. >> so can you give us one stock pick that the researchers like? >> one of the stocks like his apt t it gives you the sustainability with the resilience. it's a company that benefits from a secular tailwind of a thomas driving an additional parking features and so on, and creates essential for cars. if the economy starts to pick up and people start buying cars again, you get an additional bump to the earnings as well as a stock. cement got just so valerie, you deal with the clients on the ground in the trenches. what you're telling them right now?

>> so in the trenches the clients, whenever you have a great year like this and they've been pretty fully invested, they get a little concerned because of all of the news out there and the people talking about what could happen and if you have a good year on chicken have a bad year? so what were doing his were keeping our clients in the market like gabrielle said making sure that they don't get too overly concerned and think they need to get out of the market's really getting back, to have in the bravery to take some gains, put some money back into the less risky assets, more conservative stable assets. so that the asset allocation that make sense for the clients risk orientation is maintained. they take advantage of it. were keeping our clients in the market, they need to be in the markets over talking to them about that. >> 's explain why you don't just let that great gain keep going, why do you stick to the same?

>> well clients get concerned when there's a lot of volatility. a little more growth assets the more volatile their portfolio is get a b. so it's really trying to make sure that you can get that growth that they need or want and that they can sustain their long-term focus through the volatility. because he put them into many growth assets for their risk tolerance they won't be comfortable on a day-to-day basis with the volatility. >> and the want to sell the wrong time. >> yes you want to make sure they're comfortable they have to sleep at night. >> thank you so much for being here. one thing to be sure of there will be a lot of headlines to ignore the coming year. coming up our ideas on what you could do right now to improve your portfolio. that first value in vest or gets that first value in vest or gets

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talks for large left behind in the latest stock market surge. bear was starting to see a? this week's cover story. thanks for joining us. charlie, lauren i want to start with your toe tells about the story. baroness just declaring that it might actually be time to see small caps come back. >> that is correct. if you believe that the economy is going to improve in 2020 and that corporate earnings are going to get better. it's a great time to buy small caps. its most small caps are domestically oriented unlike big cap and multinational companies. and they've been lagging the market for almost a decade. and they just started to move up, we think it's the real thing. >> and were talking about stocks that have a market value, market capitalization of 5 billion or

below. does a strive at their view? >> it does fortunately, it's about time. it's been a rough ten years actually for small-cap value managers. what happened essentially after the great financial crisis was that people decided to pay up the growth. and growth is much more presence and large-cap youth inc. of google and facebook, and all the likes netflix so we suffered a double whammy and that that small was relegated disadvantage to large-cap and value was relegated neglected versus

large-cap. >> so there is a famous paper that says small and value are the advantage. and this is an anomaly that's gone on for decorate decades in the market, so is it that the market didn't read that memo or are valuations really low? or are valuations finally climbing the stocks. with going on here? >> valuation got and are still very compressed. and the famous studies you cited out of the university of chicago did highlight the benefits over the long term. there are periods of time where people don't realize, and i can see a seat in the fund i manage. the last ten years we underperformed. over the 21 year life of the funds we outperformed. the issue is the last ten years we haven't had significant drawdowns. the market really hasn't had the problems it had during the decade from 2,000 to 2,010.

so the question facing investors, and i agree with lauren in terms small-cap stew best when interest rates are rising. so when the economy has bottomed, and people believe, and there is some evidence that things are getting better. the dollar weakens, things that are occurring currently, gold is no longer in favor. are all telltale signs that we are, now i can tell you also for my portfolio, that things started to change as early as august. obviously magnified in september and have continued the last four months i have outperformed. >> but we've seen this before and i think it was 2,016 that they outperformed and then right back to underperforming again. why is it different this time? >> good question ben, and it has

all the earmarks because people you no longer have to pay up for growth. growth will come naturally. my argument is so many of the companies that i own, and i suspect others small-cap value managers own, have taken actions to reduce their costs. such that the incremental margins that you get more volume, you're going to have very substantial earnings gains. >> organ have to leave it there i want to check with you in a year end see if in fact the cycles continues. thank you so much charlie. up next the roundtable gives their investment ideas for the coming week. stay right there.

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jack i am in all of your market knowledge, your writing ability, your papa troll affection, but i'm going to tie the truth here. mental level with the appeared when it comes to fashion expertise, you're not of the very top of my list. >> i'm not perfect, over thanksgiving i bought this fluffy brown fleece that my wife says i look like i'm in the country bears jamboree ambit at disney world. i do make mistakes. but one thing i'm sure of his sketchers, are cool. right? the stock is up 75% this year. people don't know this is the third-biggest foot brand in the world. it's nikes, adidas, sketchers. this company has grown incredibly in the past 20 years. i think when you look at the outlook, the growth outlook compares favorably with nike and lulu lemon, and these other leisurely brands. but the stock is much cheaper. >> but the stock is up 75% last

year so? can i keep rolling? >> i think it can, a lot of room tests expand overseas. a lot of room to do better things e-commerce. i'm bullish even if my new fleece is bearish. >> and barons traditionally want you to go into the coming week to make your next move. so worn ben, he got action with you. lauren you've what you have. >> if you believe in a small-cap rally i believe in core small-cap etf is a good way to play. it's super cheap, yields about 1.4% and the fund only buys companies that were profitable in the past year, which cuts out a lot of more dubious small caps. >> it's canada goose they make very expensive coats it's gotten beaten up but i think there's a lot more upside people still love their coats. we just had a come better to get bought out and i think there's some good things there.

>> great things there thanks guys don't get follows on twitter at barron's online. that's all for a next week on barron's your homes. lou dobbs is next. [♪] lou: good evening, everybody, the radical dimms are gasping in what i see as mortal pain as they behold president trump's rising levels of popularity, this achievement of more success and clear and unassailable case for reelection in 11 months. the economy under president trump is a runaway record breaker and so too are the markets. the trump economy creating 666,000 new jobs in the month of november, including 354,000 manufacturing jobs. the unemployment rate dropping