Skip to main content

tv   Lou Dobbs Tonight  FOX Business  December 20, 2019 11:00pm-12:00am EST

11:00 pm
9:00 a.m. eastern for mornings with maria on foxbusiness. i hope you'll start your day with me every weekday. that will do it for us for today, thank you so much for joining us from all of us here at wall street, we all wish you and your family a beautiful christmi'll see you n. 's be nine hello and welcome to the wall street journal at large. we are just days away from christmas when christians around the world celebrate the birth of jesus more than 2000 years ago. since that time of course the church founded by his followers have gone through extraordinary changes. its face the challenges of maternity from reacting initially to the scientific breakthroughs of. [inaudible] that raised about orthodoxy is responding to the calls it should be more open and accessible to the masses. always threads history. to dealing with society's
11:01 pm
changing views on marriage and sexuality. many, many other challenges too. during these and other periods of stress, especially over the last few centuries some have thought and argued the catholic church might become irrelevant. disappear into the dust of history. my guess is says instead of being overwhelmed by modern times come the churches not only survived as it clearly has, but is actually key agent of change for the whole world. he is george whiteoak, catholic scholar and distinguished fellow with ethics policy centerpiece also wrote more than two dozen books and closing his latest the irony of catholic history how the church rediscovered itself and challenge the modern world to reform. george thank you for being here. let's start with the book and pick this up right with the title. what's ironic about the church, the church's response. >> what's ironic about it jerry, is a relationship that started with a lot of mutual head knocking. vote tear, crying, crush the
11:02 pm
infini, folks hurling thunderbolts at maternity and all of its forms. ironically, and i believe providentially over 200 years, resulted in the catholic church rediscovering the essential truth on itself, that it's not an institution to be maintained, it's a community of disciples in mission, and its primary purpose is evangelization. it's to convert the world. and that's a rediscovery. gerry: you say in the book, i think a lot of you would find this surprising and challenge about, but the 21st century the catholic church is more vital inconsequential that it was in the past nine or 50 years ago. but for a lot of people they would say they look at the challenges facing the church, they look at the declining churchgoing and observance, they look at some of the challenges churches have to deal with the last 20 to 30 years. and they say cannot really be
11:03 pm
true customer cows and more vital inconsequential today? >> john paul ii who died in 2005, was the most publicly consequential pope in 500 years. at least. he was the pivotal figure in the collapse of the european communism, not the only one to be sure, but played a pivotal role in that. he helped ignite democratic revolutions in latin america and east asia. beyond the public impact of the church, there is the phenomenal growth of the catholic church, for example in sub-saharan africa. there are now hundreds of millions of catholics where they were virtually none hundred to 200 years ago. the problems are real, the challenges are real, but the church is actually in the growth of business, and large parts of the world. gerry: for a lot of people, again the challenge of maternity particular for the
11:04 pm
church, for a church that is universal and eternal, and is rooted in the message of jesus christ 2000 years ago and the universal message of that, evolution and change progress as people like to call it, and the intrinsic challenge. how does that -- and the church has adapted and changed. you go through some of the great periods of church issues when they change. most recently the vatican ii so if the church is accommodating to modern morays and ethics, and practices? how is that consistent with the idea of one eternal message. >> i think two things bear on that. one, the church has tried to figure out, has had to figure out how do you preach the message of the lord jesus christ in new cultural circumstances from the beginning? when the when the church
11:05 pm
leaves the holy lands and goes into the classical world. and have to figure out how to talk to that world. when the church enters what we know is the middle ages, there's this thing called this new learning, has to figure out how to talk to that. same with the renaissance, same after the reformation. so this question of how to respond to maternity and how to engage it in order to stand for it is in fact a very old question. i think what's different about today, is that the modern project believes that it's self-sustaining and self creating. and with the catholic church at its best suggests is that there are enduring truths, built into the human condition that you had better take account of informing societies, political
11:06 pm
communities, economies, they are gonna serve genuine human flourishing and results in human happiness. ultimately in the attitude. gerry: outside the church are inside the church, someone in the church who says what the church has to change. it has to adapt. not just in ways of practical ways, but fundamental issues are these teachings, these big debates about contraception, abortion, gay rights, and marriage, and divorce, and the church in some parts of the world is making those accommodations if you can call it modernity. how is that working, how's that working out for the church? >> it hasn't worked out at all. an example, prime example is the church in german-speaking world. german, austria, german parts of switzerland which has been living what i would call for 18 years, catholic rights. for the better part of five
11:07 pm
decades. gerry: sort of tolerating divorce, that type. >> accommodate to the liberal progressive agenda. put some smells and bells around it. and hope it works. it doesn't work. gerry: it doesn't work and then church dropping responsibility. >> i was speaking in munich this past staying in a parish of people 10000 are in the church but 200 go to mass on sunday. this is a collapse of catholic identity. and practice. and i think it's due to the fact that catholic like is boring. there is nothing interesting and saying how little do i have to believe and how little do i have to do to stay inside the church? that's an important question. gerry: that is important in renting a quick break but when we come back back out of talk what the volusia and of the church. on talk about what's public
11:08 pm
like in these changing times. stay with us. 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. the epson ecotank. just fill and chill. most people think as a reliable phone company. but to businesses, we're a reliable partner. we keep companies ready for what's next. (man) we weave security into their business. (second man) virtualize their operations. (woman) and build ai customer experiences. (second woman) we also keep them ready for the next big opportunity. like 5g. almost all of the fortune 500 partner with us. (woman) when it comes to digital transformation... verizon keeps business ready. but you don't feel good. with polycythemia vera, pv, symptoms can change so slowly over time
11:09 pm
you might not notice. but new or changing symptoms can mean your pv is changing. let's change the way we see pv. you track and discuss blood counts with your doctor. but it's just as vital to discuss changing symptoms as well. take notice and take action. discuss counts and symptoms with your doctor. visit takeactionpv.com male anchor: ...an update on the cat who captured our hearts. female anchor: how often should you clean your fridge? stay tuned to find out. male anchor: ...this year's most buzzed about premieres... female anchor: makes it red-carpet official with... male anchor: 50 5-star products you can buy online right now male anchor: tributes pouring in from fans... female anchor: her hot new album is just one of the things we talked about. male anchor: beats the odds at the box office to become a rare non-franchise hit. [anchor voices ramp up together becoming indiscernible] you can provide the help and hope that survivors need.
11:10 pm
♪ ♪ everything your trip needs, for everyone you love. expedia. for everyone you love. this is the epson no more buying cartridges.. big ink tanks. lots of ink. print about... this many pages.
11:11 pm
the epson ecotank. just fill and chill. gerry: my guest is catholic scholar joan weigle. george tell us about the book how the church is changing, church is not embracing but actually changing. >> would talk to moment ago about the role john paul ii and liberating central eastern europe from communism as we one example. in the course of this encounter, since the french revolution the catholic church developed a social doctrine or they talk about society economics culture, it's rooted in a biblical view but which engages the modern quest for
11:12 pm
freedom, prosperity, and solidarity. and tries to put on the secure foundation. i think that's the greatest thing the church does for a late but a tea or postmodernity today. it's to say look there are truths built into each of us as individuals and into the human condition. those take into account of and allow us to flourish, and allow us to live freedom notably rather than in this dumb down i did it my way, notion. be nine we have to address the terrible scourge of child abuse which has been so, has unfortunately been so widespread to the standing of the church. tell us first of all, how did that gets to be such a how did it become so extensive and why was the church so slow in responding to? and what's changing now? as a church finally getting on top of this?
11:13 pm
>> i can only speak to the american situation, to the u.s. i think that is the lonely actually have real numbers. we're talking about the disgusting and in criminal behavior of maybe 4% of the catholic clergy. gerry: but to be fair, the actual perpetrators, but there is a sense that why didn't the church either actually cover it up in some cases allowed it to go on. the institution failed. >> without a doubt. this church institutionally failed in part because of the psychological industry, institutionally failed big saying we can fix these guys. and it turns out we we just there are people we just are not fixable. this was a huge failure of responsibility. i think, and i try to describe in the book that this is a
11:14 pm
moments of essential purification for the church. because the church cannot propose a lot of countercultural ideas to the postmodern world, particularly that the ethics of human love. unless it is seen to be living what it proclaims. gerry: you spoken and written positively about saint john paul ii. but there are those that think -- it was on his watch she could put on that were a lot of these failures occurred. is his record, it was an extraordinary record in terms of changing the world and change the church. is it tainted by the church's failure on the child abuse? >> it is part of the picture without a doubt. but on the other hand as i described in the memoir of john paul ii a couple of years ago called lessons and hope, i went to rome in april 2002 to
11:15 pm
make sure that the pope was getting the information he needed to deal with us. and once he understood what was going on, he acted decisively as did then cardinal ratzinger. it's really one of the heroes of this unfortunate story. another thing i think gary that has to be said about john paul ii is a great reformer of the priesthood. and once those reforms kicked in and the u.s., and the late '80s an early 90s, the incidence of clerical sexual abuse drops dramatically. gerry: very quickly one of the puzzles are people inside and outside the church, you had john paul ii and pope benedict who is seen using nih uses labels but kind of conservative it emphasized traditional values and did not make significant reforms, changes or at depth patients. and then came on pope francis
11:16 pm
the same institution who seems to have a radically different approach. how is francis is changing the church? what he think it's gonna go? >> i think if one looks around the world first the living parts of the catholic church, are the parts that are still in grace john paul ii and benedict the 16th, the interpreters and the vatican council. the dying parts of the church of these catholic like experiences that don't work. i don't think that pope francis wants to sell catholic light, but i think some of the initiatives he's taken have given encouragement to the dying catholic light forces in the catholic church. and that's a shame. because he in many respects puts a compelling face on the church. and he is right to remind us
11:17 pm
that every time the church does notice something that has to explain what's the guess that stands behind the no. not just the naysayers. gerry: thank you very much one more quick break and they were gonna talk about religion in modern america. stay with us. (classical music playing throughout)
11:18 pm
doctor bob, what should i take for back pain? before you take anything, i recommend applying topical relievers first. salonpas lidocaine patch blocks pain receptors for effective, non-addictive relief. salonpas lidocaine. patch, roll-on or cream. hisamitsu. beyond the routine checkups. beyond the not-so-routine cases. comcast business is helping doctors provide care in whole new ways. all working with a new generation of technologies powered by our gig-speed network. because beyond technology... there is human ingenuity. every day, comcast business is helping businesses go beyond the expected. to do the extraordinary. take your business beyond. quitting smoking is freaking hard.st, like quitting every monday hard. quitting feels so big. so, try making it smaller. and you'll be surprised at
11:19 pm
how easily starting small... ...can lead to something big. start stopping with nicorette we need a solution.ut their phones down. introducing... smartdogs. the first dogs trained to train humans. stopping drivers from: liking. selfie-ing. and whatever this is. available to the public... never. smartdogs are not the answer. but geico has a simple tip. turn on "do not disturb while driving" mode. brought to you by geico.
11:20 pm
gerry: and where with george weigle and we decide not politics. what is the defining trend in american politics in the west politics in britain in much of europe is popular is him and verge of nationalism as people call. people talk about make
11:21 pm
american great again. in the universal church, or religion for a faith that teaches the importance of universal brotherhood and sisterhood, how does this, how does the church how does the catholic church deal with this new political sensation? >> it is scrambling at the moment. i think that's the fair statement. the catholic church has always honored patriotism, loyalty to one's country, devotion to one's national patrimony. i think where the church would try to draw line is to say that patriotism ought not express itself at the expense of others. let's aim for general pluralism here in which multiple patriotism's work to influence each other.
11:22 pm
and that's what i think is actually going on in europe right now. and it might help, possibly, and increasingly bland mono tonal overbearing brussels iraq receipt learned not every poll once to be a belgian. and it's okay. you can have a genuine pluralism of national experiences working together with in one economic units. and to some extent within one political unit. we used to call that federalism in the united states. g9 a national politics here in the u.s. are we becoming growing numbers of americans express they don't have any religious faith. is that being reflected in our politics too? are we becoming where democrats are becoming kind of a godless party and the republicans are becoming the
11:23 pm
traditional religious party? >> i think it's hard to say at this particularly bizarre at this moment. i think it's hard to say about what the democratic party and the republican party will be over time. it seems to me that for the past six, seven, or eight presidential cycles or maybe even longer than that going back to the early 70s, the question has not been was your denomination. it's been what's your degree of practice? those who are in church once a week, maybe even more, skew heavily republican. those who are never in church or in christian terms are christmas and easter believers, skew heavily democratic. and the scale slides in between. so i am constantly telling my friends in washington there is no such thing as a catholic vote. there is a practicing catholic vote which skews one way. there is a nominal catholic
11:24 pm
vote that skews the other way. in the scale slides in between. i do think it is becoming more and more that there are fewer and fewer serious religious thinkers who have a genuine impact on american public life. my dear friend, may have been the last significant figure in shaping a christian response to american public life. now we have to hope that others are coming along. but when religious leaders mortgage themselves to a particular political party, a particular personality, their cash value if you'll pardon the term diminishes dramatically. gerry: that is fascinating wish we had more time.
11:25 pm
the book is called the irony of catholic history how the church rediscovered itself and discuss challenge the modern world to deform. up next the rarely use constitutional clauses coming to be
11:26 pm
don't tear up a piazza with an italian work of art. do seek out an open road. don't squander 100 years of racing heritage. do take the long way home. and definitely don't do this. see everything you should never do with an alfa romeo. ...then experience everything you should on the road now. well-qualified lessees get a low mileage lease on the 2019 alfa romeo stelvio for $379 a month
11:27 pm
i've always loved and i'm still going for my best, even though i live with a higher risk of stroke due to afib not caused by a heart valve problem. so if there's a better treatment than warfarin, i'll go for that. eliquis. eliquis is proven to reduce stroke risk better than warfarin. plus has significantly less major bleeding than warfarin. eliquis is fda-approved and has both. what's next? sharing my roots. don't stop taking eliquis unless your doctor tells you to, as stopping increases your risk of having a stroke. eliquis can cause serious and in rare cases fatal bleeding. don't take eliquis if you have an artificial heart valve or abnormal bleeding. while taking eliquis, you may bruise more easily and it may take longer than usual for any bleeding to stop. seek immediate medical care for sudden signs of bleeding, like unusual bruising. eliquis may increase your bleeding risk if you take certain medicines. tell your doctor about all planned medical or dental procedures. eliquis, the number one cardiologist-prescribed blood thinner. ask your doctor if eliquis is what's next for you.
11:28 pm
but at fidelity, value is more than just talk. we offer commission-free online u.s. stock and etf trades. and, when you open a new fidelity brokerage account, your cash is automatically invested at a great rate -- that's 21 times more than schwab's. plus, fidelity's leading price improvement on trades saved investors hundreds of millions of dollars last year. that's why fidelity continues to lead the industry in value while our competition continues to talk. ♪ talk fidelity. gerry: in the first 185 years of this country's history, the constitution's impeachment
11:29 pm
clause, which lays out how president can remove from office, was exercise just once with andrew johnson in 1968. in the last 46 years, it is happened three times. put another way, of the first 35 men to hold the office of president, one was the target of impeachment. seating spirit of the last nine, three have met that fate. of course this week donald trump is made that latest. whatever you think about the specific charges against the president, it's hard to resist the conclusion that this is becoming a routine feature of the political battlefield. in my are hyper- partisan age, both parties it's not enough to simply oppose the other side but you have to delegitimize them, deny the rights even hold the office. it's not with the founders intended is surely not the recipe for a healthy and functioning system. but enough of all that. it's christmas after also let me wish you and your family the very happiest of holiday seasons. ma the coming days, whatever your current political mood be merry and bright. that's for us this week. for the latest show updates be
11:30 pm
sure to follow me on twitter instagram emily back next week we look back at 2019 and look ahead at 2020. with my colleagues right here on the wall street journal at ou for joining us. jack: welcome to barron's roundtable with the sharpest minds on roundtable meeting to get behind the headlines to
11:31 pm
prepare you for the week ahead. i'm jack ought her. we begin with what we think are the most three most important things that investors should be think about right now. what's ahead for boeing after suspending 737 maxon how will the stocks fair? they go to pre-2008 levels. in the secure act is going to be loud bring sweeping changes that will affect retirees and savers. on the barron's roundtable tonight my colleagues ben levinson, rush mcfadyen jack cao. jacko start with you. really tough week for boeing. so it announced its suspension of 737 max, and on friday, space capsule did not like it were supposed to be. >> gets a pass on the space stuff. there's a reason why when something is easy, say it's not reich@encinas because actual rocket science is hard. so we are not going to ding boeing there. but it's a much bigger thing on the production halt.
11:32 pm
you know the thing on cell cycle for aircraft are very large gray decades, so the fact that it's halting is a temporary halt is not a big deal the scheme of things. however, i think it's an open question for investors at a very fair question to say is this really a halt? is this temporary? are we going to reach a.where the 3737 max returns to service impute customers are happy in every thing is okay. twenty years ago when you booked a flight, you might've called a travel agent, you might've had no idea what kind of plane you're going on. today do it on your phone. all the details are right there. 737 max is now a brand. i don't know how you solve that problem if your boeing? >> and i've read the suspension of production could ding the economy because boeing is the largest expert order in this country. it gets courts from all over the country. it's a big problem. >> if you're an investor, first off you're an american consumer and of course that they make a way to make these
11:33 pm
things safe. if you are looking for an investor to buy a stock, this is not a stock falling apart. it's up 1% here did year-to-date. that tells you why this stock market is great. i would wait for more clarity. i just need to know exactly what's going on. this be a thing is connect huck take the stock falling and actually get the company to do something. >> if they say we need a clean sheet design ub disaster. you know or things stand. jack: it took about 13 years for this key bank stocks to clots way back from its prerecession high. barron's had a cover story back in june saying we like bank stock, so far according to script and you are still there. >> has been pretty managing this to watch this year because around units when that story ran, everybody hated banks. the fed was cutting interest rates, we were worried about the strength of the economy. also things are terrible for
11:34 pm
banks. it's just awful. now some banks arts railing because the fed, you know what they're gonna stop cutting rates in the economy, maybe it's getting better. and finally got a rally of the banks that put them pretty much on level with the s&p for right now. jack: explained the s&p what that means her bank socks. >> so what happened is the banks are borrowing short and they are lending long. and so they are different they are making is really what the profit is. and when that prophet, when that's coming together, the profit is shrinking. >> the swing long-term and short-term bonds. >> so when it's coming down the margin is shrinking it fits whiting they're making more profit. so as long as the yield keeps steeping, as long as the economy looks like it's going to continue to exhilarate, bank stock should still do okay. >> so you're still bullish? i'm so bullish. here's a start with a lot of attentions congress passed the secure acts. tells about that.
11:35 pm
what's a secure xl about. >> personnel that's a bipartisan bill which is unusual these days. so it's basically a lot of small measures, that might help retirees. it's in different ways but package together which makes it the pig is. trish: tired legislation a decade. there are some provisions that help increase access to workplace pans which is the how the majority. >> that the 4o1k types. >> of their people in the workplace do not have access to this type of planet the bill allows small companies to reduce their costs and allows them to get plans together at laos some part-time workers to contribute to the 4o1k plan. >> you questions about the retired minimum distribution thing, and it's not importantly 70 and a half and then you're very important. >> that is very important method half birthday is really throwing people off so now if you are, you don't have to take them out to your 72. >> explained that to this rule for those of don't have to the rule is when you have to take
11:36 pm
things out of his retirement plan when he had that date whether you need or not. >> exactly that's a certain percentage in your penalize if you don't do. so now 72 is the first day if you if you did a half a year you missed out on that extra time. that's one aspect of things. and they also removed the aged kat. putting into iras. so people are working longer and they want to continue contributor to the third thing we got a lot of questions about it's a stretch ira. it's a popular estate planning still for affluent retirees. you are allowed to leave your ira to an error and they have their entire lifetime to use that account. it's not tenuous. >> and let's briefly mention this new provision that gives companies more latitude to put annuities in 401ks. was it helpful? >> while supposed to provide guaranteed income. >> at that's a really a problem within running out of money. >> the bad is that it can open
11:37 pm
up the door to all kinds of annuities. the academics like low-cost, simple, and cohen annuities this doesn't help that. >> there's no cap on the fees? there are some whoppers on those fees. >> exactly the employer's cell fiduciary and the product to sell their planned. >> which means they're responsible for the retirees. coming up now is a time to look for value in international markets within. the panel debates it. but first barron's exclusive but first barron's exclusive interview with one of the most
11:38 pm
if your gums bleed when you brush, you may have gingivitis. but first barron's exclusive interview with one of the most and the clock could be ticking towards bad breath, receding gums, and possibly... tooth loss. help turn back the clock on gingivitis with parodontax. leave bleeding gums behind. parodontax. skip to the good part with alka-seltzer plus. now with 25% more concentrated power.
11:39 pm
nothing works faster for powerful cold relief. oh, what a relief it is! so fast! now you can, with shipsticks.com! no more lugging your clubs through the airport or risk having your clubs lost or damaged by the airlines. sending your own clubs ahead with shipsticks.com makes it fast & easy to get to your golf destination. with just a few clicks or a phone call, we'll pick up and deliver your clubs on-time, guaranteed, for as low as $39.99. shipsticks.com saves you time and money. make it simple. make it ship sticks. shipsticks.com saves you time and money. (shaq) (chime) magenta? i hate cartridges! not magenta! not magenta. i'm not going back to the store. magenta! cartridges are so... (buzzer) (vo) the epson ecotank. no more cartridges. it comes with an incredible amount of ink that can save you a lot of frustration. ♪
11:40 pm
the epson ecotank. just fill and chill. available at... step up, please. empty your pockets. looks like you're all set for that business trip. you've got your smartphone, laptop, your other smartphone... woman: is this all the devices you have? your tablet... seriously? smartwatch, your backup tablet, and... woman: anything else in your bag? ...whatever that is. (beeping) this isn't working. introducing samsung mobile workspace solutions. with the galaxy note10 with dex software, you can run your entire business on the one device that does it all. samsung business solutions. jack: peter lynch's near the top of anyone's list of great investors. in the 13 years he ran the fidelity magellan fund he racked up annual average returns of 29-point to percent. a member of the barron's roundtable in the 80s and
11:41 pm
90s, peter is on the cover of barron's this week. i went to boston to get his insights. here's our conversation. so peter you are investing philosophy is often summed up as by what you know. and there's some truth to that and that's often so oversimplified. can you explain what you did mean by that? what you did mean? >> that bothers me that people are very dangerous when they invest. if you play the market. that's a dangerous term. but if you do some work, do some research, neutron, look at the balance sheet, you can get fairly close to 16, you find out this company has lots of debt, no debt, they are in trouble. so a little bit of research part people are more careful their fridge bear they should take a vacation else at $510,000 to spark a bus for a party, that's dangerous. 's t8 sony say by what you know, you talk about the regular investor might be able to get an inside and vantage by sticking to an industry that he is familiar with or
11:42 pm
seeing something that he realizes a great product. >> imagine if you are in a mall the last 50 years. losing gap when it's hot we were we've seen things when they are hot. people weren't excited about gap anymore, then you do some research and say g there's a lot of limited stores, but only 20. and then they go to 400. so you see a company, i don't do all the local company or do all the stop & shop. people are showing up, or they'd just looking at knowns anymore's anymore. that's research. that's fundamentals. you don't leave the mall and buy that day, you have to do some more work. jack: that's the important. so today, there are so much information everywhere. information overload. does that make it harder for active investors? the indexers say that everyone's got access to the same information at the same time, you can't beat the bucket. >> will you beat the in indexes you avoid the stocks that are down. you'd avoid the steel companies in the oil companies
11:43 pm
and sears, and pennies, and the companies that are deteriorating. companies are dynamic. you get behind every stock there's a company. use light lottery tickets. so you're trying to find the companies with in that are doing better. they go from crappy to semi- crappy to good. but they take a couple years. you try to avoid the companies that are going south. that's how you beat the market. or you find something that's outside better great companies. carmax was not in the s&p and they went up. some answer and then they have great performances. jack: now while people when they're lucky enough or smart enough to get a company going up. they take their profits. and you made the case in the booklet you should actually hang in there with the really great stocks and we've got a call for more and buffet as a result. >> in 1989 i was at home my phone rings and my daughter six drove and he picked it up and she said there's a mr. buffet on the line. i pick it up thinking it's a joke and it said this is warren buffett i read your
11:44 pm
book and now about seven seconds. and i said that's great, i'd love to do. but what's the line. he said i love this i wait to do it. sell your great companies and add some losers. it's like water in the weeds. [inaudible] he said i want to put it in the if you come to nebraska come see me your name will be metal over nebraska. jack: dig a column. >> yes submit it with him several times a great guy. jack: this is might be irrelevant but ten years into a bowl market, i think you said more money has been lost in anticipating a downturn that in the downturn. can you explain? >> obviously the markets have gone up tenfold see them make more money on the upside. reminds me a lot ten years now 20 years now, 30 years now prine trying to break the market is really a waste. i don't know what it's gonna do. it can go down, when i ran in
11:45 pm
13 i had a perfect record. i want more than 10% every time. when the market went down i went on more. but over the long-term the upside is more than the downside. so if joy need the money in the next month? so i need the money next year? drive kids going to college of a wedding coming up? then your bad investor. if you keep putting money year to five, ten, 15, 20, 25 years you should do well. 's. jack: one thing weren't nice to talk a lot about appearances secular in the market. there's so much disruption there certain industries they may be cheap and they could just be getting cheaper. even the audit industry, very low, maybe the market sees something. you think secular changes is moving more rapidly now than it did in the 80s when you are running money? >> no i thought excel industry deteriorate i saw the stocks go down i saw industries go
11:46 pm
away. industries can go from terrific to terrible. it's a great expression that help me a lot. the texel industry. it's always darkest before pitch black. just three things are terrible, they get terrible squared. so just because getting bad does not mean the reason to invest. wait for them to get better. again, somebody might be involved in this they may be involved in iron ore. they might get involved in plastics. delsea a woman pick up before i that's a cyclical turnaround. that's my last two or three years. you might see it way before washington sees it. jack: one broad area that you said might be interesting as energy. and it's very unloved on wall street right now. what you see in that? >> 1 million barrels a day. were concerned about a hundred real men barrels a day. 1million each way. so if the economy stays okay, and the shale wells, you do a thousand dollars a day the first month, year later their 300. wow.
11:47 pm
and then there 150. so it's a real turnover. right now there is no ipos, there's no bond market, the banks went out. everybody wants out. shale is get a slowdown. steve guy thanks shale is going to keep growing two to 3 million barrels a day. left a five-man barrels in the u.s. for 12 and a half. don him it's going to change though. jack: peter think every much. coming up what you can do to improve your portfolio. but first, is it time to look for value in international than you.
11:48 pm
you are my diamond. for the diamond in your life, get up to 40% off storewide or get these one of a kind deals at the "you are my diamond" event. exclusively at zales, the diamond store. male anchor: ...an update on the cat who captured our hearts. female anchor: how often should you clean your fridge? stay tuned to find out. male anchor: beats the odds at the box office to become a rare non-franchise hit. you can give help and hope to those in need.
11:49 pm
11:50 pm
jack: while u.s. stocks of had a wonderful tenure rally, many international markets have lagged. could it be time to change of your holdings and look for
11:51 pm
value in international markets? joining roundtable to discuss is head of trading strategies is benet. thanks much for joining us been a makeable case for international stocks. >> is not the bull case, but the case of being invested and diversified at all times. this is something we repeat at nasim to our clients and advisors. second, tactically add to the markets that have suffered the most, especially following the trade were over the last two years. emerging equities in particular have underperformed the u.s. markets and total return by about 30%. and then risk manage the portfolio. this de- globalization train has left the station all right? and you have to. >> is a coming back. >> i don't think so but if it does that's fantastic. if it isn't coming back, do you have to in the biggest domestic oriented market in
11:52 pm
the world u.s. and shinar the most foremost and the best risk manager portfolio. you have to have strategies for regular people with the right size. jack: there is a lot, how are you seeing it. >> there's a lot of stimulus in the world which is great for emerging markets. we are seeing china's economy and the big question is does this hold up even if we see escalation and the oslo said china trade? there's a de-escalation at the moment. jack: if you look at the index, it's up 3435% this year. but as we have escalated the trade were, these are trading stocks. so the difference of that 300 and china is consumer. [inaudible] it's a domestic orientation and a markets are doing we expect them to do. jack: so other emerging
11:53 pm
markets, how do you break that down? we also make the.is not one big market. brazil is very different from brazil and turkey and so forth. >> i think china is the star in the show right now. and it's just another reason not to necessarily invest in a broad index fund. it really makes the case for active managers to go wait in fine consumer stocks, and doesn't better benefit. jack: what about europe? >> europe is more threatened like if we have a real escalation of the trade were. the countries are most exposer central europe, south korea, we look at the market very poorly. so china's okay, to the extent that is domestically focused. so obviously there's a lot of value there, but his were brushing its recession is a speak, things are looking up for everybody just a bit. that's a very good for everybody. and staying diversified is
11:54 pm
really important. jack: so what you say to someone who looks of the portfolio and says look i've been in the u.s. stocks for the last ten years, i'd be golden if i had all these others that are making me money or losing money. >> 's own foreign stocks for 20 years and it outweighs the u.s. but that's not a good answer. even in your like last year, okay, percent and you have 50% and european equities and 50% the s&p. if rebalance a 5050 at the end of every much. you outperform the s&p. >> one more thing to ask about is japan. >> at the bullets evaluation and the response, the increase in tax again which is usually the end of the game for them. three years they've written offer for years. but this time i think they have learned their lesson and they have the intervention. and the valuation of the market is very attractive. it's ba thank you very much if
11:55 pm
you look at we tell most people if you look your peripheral your underweight if you're an american just get back to wait that's a best. our roundtable gives their investment advicicicicic there's a lot of talk about value out there. but at fidelity, value is more than just talk. we offer commission-free online u.s. stock and etf trades. and, when you open a new fidelity brokerage account, your cash is automatically invested at a great rate -- that's 21 times more than schwab's. plus, fidelity's leading price improvement on trades saved investors hundreds of millions of dollars last year. that's why fidelity continues to lead the industry in value while our competition continues to talk. ♪ talk fidelity. ♪
11:56 pm
♪ everything your trip needs, for everyone you love. expedia. for everyone you love. most people think as a reliable phone company. but to businesses, we're a reliable partner. we keep companies ready for what's next. (man) we weave security into their business. (second man) virtualize their operations. (woman) and build ai customer experiences. (second woman) we also keep them ready for the next big opportunity. like 5g. almost all of the fortune 500 partner with us. (woman) when it comes to digital transformation... verizon keeps business ready. quitting smoking is freaking hard.st, like quitting every monday hard. quitting feels so big. so, try making it smaller. and you'll be surprised at how easily starting small... ...can lead to something big. start stopping with nicorette
11:57 pm
11:58 pm
rolled out its peacock to celebrate this new thing called color television. you write this week that the peacock is coming to an end. we are going to learn about the streaming service it's a new streaming service from comcast about mid-january, generally 16th again to give this details on it. we arty know so the things around appeared we know free shows, i know ben is passionate about battle star galactica, "saved by the bell", punky brewster,
11:59 pm
especially, look, no one is going to expect the peacock against the streaming service of the netflix nsaid is the world beater. but we think it might be free and ad supported that's well differentiated. i think for investors it's going to start to reinforce just how wealth comcast is doing in other areas like its cable service and is broadband service generates a lot of cash stock looks good. >> even gets actionable ideas what you have missed. international. china's largest 935 million customers earnings are improving its 5g is rolled out. it's one of the cheapest large-cap companies out there, three times. and ben, you're sticking with banks. >> i'm sticking with banks, bank of america, it's looking very interesting now it's gained a lot, but if you look at it compared to j.p. morgan, j.p. morgan is about two points more expensive on expensive on the basis.
12:00 am
bank of america has more room to run to catch up. >> very good ideas thanks guys to check out more check out barron's.com and offered follows on twitter, barron's online. that's all for us, see you liz: got to go.rron's congressman, thanks for coming in. >> thank you. lou: good evening everyone. president trump heading to florida tonight after getting more work done in two weeks than the entire democratic party this year. house speaker pelosi, the enigmatic figure in the three-year effort by her party to overthrow president trump, today she couldn't -- well, she couldn't imagine moving those two articles of impeachment over to the senate, trying to overthrow the greatest president in our history, but then she shocked every creature in the swamp. she refused to send over those articles to the senate. thereby, raising lots of questions. for example, if those articles

31 Views

info Stream Only

Uploaded by TV Archive on