mccarthy. all my special guest, sunday morning 10:00 a.m. of on fox news. plus right here on foxbusiness start smart every day for mornings with maria right here on foxbusiness monday through friday. have a great rest of the weekend. ♪ ♪. gerry: hello and welcome to the wall street journal at large. well it might seemed like the 2020 presidential races been going on forever. but month active campaigning they're finally ready to have the first votes cast. on monday, boaters and i will charge their local caucus locations will they will take part in their hallmark of taking their favor to the race. the democrats, doesn't are who are in the field the stakes are high. in 1996 no one is gone on to be the nominee without winning

in iowa. for those struggling the half as they could make or break their campaign. this could put an end to slim chance of what they had. meanwhile, those near the top are hoping iowa will help them break away from the pack and provide the momentum needed to score even more wins as the primary season heats up. seventeen states are casting ballots over the next month with the big prize coming on super tuesday, march 3 when california, texas and virginia are among those making their picks. that will also be when one of the big wildcards the 2020 election, mike bloomberg former new york mayor will be on the ballot for the first time. billionaire businessman who has been moving up in the polls the last few weeks thanks in large part to a personal fortune and allowing him to spend tens of millions of dollars in campaign ads is hoping a breakthrough in the states. but the focus is squarely on the middle of the country and the message the people of iowa are setting to the rest of america. here's to talk about what to expect and how important is what monday's decision will be veteran of democratic

strategies and he ran for president in 2000 lives in the primary to al gore. he was also, as we all know a star basketball player at princeton and an mba for the new york knicks. let me start you have an door's job biden can explain why? >> i endorsed joe because i have known him for 43 years. i have seen him in action on the kremlin to congress political tragedies and triumphs. i think what shape joe biden is his family and his faith. and i think he is the only candidate who can beat donald trump. and he is also the candidate who is best able to bring in a democratic house and senate. because if you don't have a house and senate's, you can't get things done as well. and therefore, i think he is the person who can reach out to these immoderate districts

in the country and people will want him to come in and he will be a positive. i think therefore, he is the best candidate from his ability and his political skills. gerry: i know polls are very unreliable we have to wait and see what happens on monday and then in new hampshire. the polls and those two states he has not been doing that well. he is slipping and bernie sanders seems to be surging. why do you think that is? >> it's very unpredictable polls in iowa have been 15 points difference in the last two weeks. iowa is particularly unique they're 1600 places people will go to and they'll say everybody for biden and go to one corner of the room. another candidate in another corner and they will have a votes. some of the candidates will not get 15%. at which point the caucus chair will say and now who would you choose as your second choice. so who wins on the first choice might not win on the

second choice. it is a very complicated process. very idiosyncratic and nobody knows how it's going to turn out. gerry: how important on those first two states? there is a view and he is still a front runner but if he doesn't win either of the states, his campaign is in a lot of trouble and that could open the door for other candidates. >> i don't think so it all. gerry: you don't think he's gonna lose or just lose those two? >> i think he is going to win. and if he happens to not win, i think he will win south carolina, he will win nevada. if you just take what the polling is now, we had an election in all four states he's got like 69 delegates versus the closest other person at about 27 which is my calculation. then you come to super tuesday, and it is all across the south. it's north carolina, tennessee, alabama, arkansas, oklahoma, texas and california , minnesota, vermont, and

massachusetts. and i think joe will do extremely well and all the states. maybe not vermont, but all the other states. gerry: you mention he's been around a very long time and politics, 50 years. he is actually strikingly a year older than you and you ran for president 20 years ago. sometimes that experience cuts both ways. the appeal of something new of some change, barack obama in 2008, the clinton, it can be very powerful. they may want something new and not someone who is associated with someone who might not be a successful 50 years. back against him? >> absolutely not. i think it is a term and disadvantage that he has the experience. i think he would be the most experienced president in the white house since lyndon johnson. and i think you underestimate the importance of that experience.

gerry: in 2008 or 2016 elections? >> you have to have house and senate. i think joe would be the most progressive president since lyndon johnson. and i also think he would be a normatively effective forgetting congressional people elected. gerry: why do you think he's a progressive? his positioning seems to be the center of the party. you've got people who consider themselves more progressive like bernie sanders and elizabeth warren. why would you say he would be the most progressive? >> if you just look at what his policies are. basically on tax policy thanks those who have more should pay more. he thanks equal income should pay equal tax. and the days when rich lobbyists got special tax bills for the wealthy real estate clients, those days are over. and plus he wants public option for healthcare which means anybody can have health insurance in america without any question. so i think he would be a progressive president. but more importantly, he would

be a progressive president who could get things done. it's one thing to be a progressive to canada, it's another thing to be a progressive president. to be the progressive president have to get things done. gerry: the house and senate need to better democratic control. but quickly how much is there a risk for -- you've known biden for a long time. how concerned are you about what may come out of that process if we do get deeper into understanding what joe biden's son was doing while joe biden was vice president? >> i am a really not concerned. i think pam bonnie matic competent presentation on hunter biden. but this is not about hunter biden anymore than it is about ivanka trump getting 16 trademarks from the chinese government it signed as a trade negotiation going on. or getting them to get appear to trump at istanbul just before the president abandons the kurds. this is not about the children

it's about the president he abuse power, lied, covered it up. gerry: just quickly before i take a break. you don't think is vice president you do have a responsibility to make sure your family members are not doing things that elise could create the appearance of conflict of interest? >> i might ask the president that. is it a conflict of interest that ivanka got 16 trademarks in the middle of the trade negotiation? this is ridiculous. joe biden, and 21 years, he came into the senate he was a poor senate to her when he left he was a poor center. he has provided 21 years of income tax returns. so the president has released a zero. we talk about conflict or corruption i think we should look at income tax returns. gerry: we will talk more about the primary with former senator b b b b b at fidelity, online u.s. stocks and etfs are commission-free.

and when you open a new brokerage account, your cash is automatically invested at a great rate. that's why fidelity leads the industry in value while our competition continues to talk. ♪ talk, talk while our competition continues to talk. the better question would be where do i not listen to it. while i'm eating my breakfast... on the edges of cliffs... on a ski lift... everywhere. for a limited time, go to audible.com to save $50 on your first year of membership. were cooking with mom. she always said, "food is love," so when she moved in with us, a new kitchen became part of our financial plan. ♪ i want to make the most of every meal we have together. ♪ at northwestern mutual, our version of financial planning helps you live your dreams today. find a northwestern mutual advisor at nm dot com.

from the international fellowship of christians and jews. there is an emergency food crisis for elderly holocaust survivors in the former soviet union. - this is a fight against time. what we're dealing with is coming out, meeting someone who's 85, 90 years old, can't get around, has no food, has no water and just wants to give up and die. and that's where we come in. we are called to comfort these people, to be a blessing to their lives. - [presenter] for just $25 we'll rush an emergency survival package to help one desperate elderly person for a month. call right now. - in ukraine there's no support network.

they don't have food cards or neighbors that come in to help. they're turning to us because they have nowhere else to turn. - [presenter] your gift is a lifeline to help these elderly jewish holocaust survivors. help them to live out their final years with dignity and love. call right now. - what i pray is that you won't turn your eyes but you will look at their suffering and your heart will be changed. - [presenter] with your gift of just $25 we can rush an emergency survival package to help one desperate elderly person for a month. call right now.

♪ ♪. kennedy: i'm here with former new jersey senator bill bradley. talk about the party as a whole. udry just said that you think joe biden lilly the most progressive president since the company have between lbj. he seems more of a centralist candidate in that party the party has moved significantly to the left such as medicare for all, education, support public education. maybe issues of illegal immigration and a whole range of issues. the party has moved it left. whitey think that is? >> i think it is frankly the democratic party has always

had a left. and i think that's positive not negative. it shows that we have a broad sense. the question is who'd you think we'll get things done. as i said earlier you can have a progressive candidate but you need a progressive president. and i believe that where we are in the country today, is a very tough time. it's not about class, it is about class, but it's not about class is about deeper things. when i see donald trump plays to our most negative emotions. fear, hate, anger. and joe biden plays to very positive emotions and positive traits, like aspiration and collective carrying, and personal responsibility. so it's not just simply about the numbers in a tax bill or the numbers in a healthcare bill. it's about being able to connect with people who are in real pain and have been in pain for a long while.

ever since we lost 6 million jobs the first ten years of the century. ever since we had the financial crisis blow up. ever since we have been an unnecessary unwinnable wars. so you need to have someone who can speak to the feelings of people as well as their minds. gerry: you are someone who is seen as being very much associated with the progressive wing in 2000 when he ran against al gore. you lost that race. >> thanks for reminding me. [laughter] 's ba you won many races a senator. that was just when you did lose. the party does seem to move that way. do you think a party if it were joe biden, that elizabeth warner bernie sanders, they had policies they represented policies that could get majority support from the american people on some of those issues? >> there are a number of position that each candidate

has on the left that would not receive a majority support. but i don't think that is going to be the issue. i think we are going to have joe biden and he's going to be working with his knowledge of how to get things done. and we are going to have success. you can talk about medicare for all, you can talk about tax policy, but first of all you have to have a congress. look at barack obama. he was stymied by a republican congress trying to respond -- he was trying to respond to real human and needs. you have to have a house and senate have the same party as the president and then you have a chance to really accomplish things. gerry: it it trumpets can be running on a very strong record of the wages rising the economy seems overall very healthy. why should americans be prepared to take a risk with that by opting for much more progressive president? >> i don't think joe biden is

a risk. he is well-known, he has been around people and is the most experienced person if you say economic numbers, while you know you talk about a middle-class family. they have to pay healthcare expenditures, drug expenditures, of which biden is going to go after to reduce. or if they have to pay insurance costs, they have to pay the child care, there's a lot of middle-class families out there who are just a couple hundred dollars maybe a thousand dollars away from being underwater. because they have to have a job. that job has to give them enough money that they can have a decent life and that's what joe biden once. gerry: we are going to take a quick break and then we will have further thoughts of senator bradley

( ♪ ) ♪ the sun is risin' ♪ ♪ as the day begins ♪ time for reflectin' on family and friends ♪ ♪ and hey, we got somethin' ♪ ♪ just for you (sniffing) ♪ it's a cup of your favori-i-i-ite... ♪ (loud splashing) (high-pitched laughter) dang woodchucks! with geico, the savings keep on going. just like this sequel. 15 minutes could save you 15% or more on car insurance. through the at&t network, edge-to-edge intelligence gives you the power to see every corner of your growing business. from using feedback to innovate... to introducing products faster... to managing website inventory... and network bandwidth. giving you a nice big edge over your competition. that's the power of edge-to-edge intelligence.

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. that's why xfinity mobile lets you design your own data. you can share 1, 3, or 10 gigs of data between lines, mix in lines of unlimited, and switch it up at any time. all with millions of secure wifi hotspots and the best lte everywhere else. it's a different kind of wireless network, designed to save you money. switch and save up to $400 a year on your wireless bill. and save even more when you say "bring my own phone" into your voice remote. that's simple, easy, awesome. click, call or visit a store today.

gerry: i am back with bill bradley. senator bradley, what is a can it take to put a democrat in the white house this year? >> it's going to take getting people allowed to vote. part of me thanks we are back of the 19th century where honest debate with facts that are agreed upon by everybody, is not to the central key to the selection. it is getting people out to vote. there are hundred million people in america and in 2016 over 18 did not vote. so getting those people registered and to vote is absolutely key. it's going to find some very interesting things happening in the democratic side against trump on the deeper web, the dark web, and a variety of other places. [inaudible] it's going to be a fair fight. you have mike bloomberg who

says whatever happens he's prepared to put a billion out to defeat trout. that's good news for whoever the nominee is. gerry: let me ask about mike bloomberg he's spending if fortune he's paying $10 million for one ad in the super bowl. is he forget me for putting it like this. is he a backup in case biden falters? is he want to assure that perhaps they're not taking so much of a risk if they are voting for democrats if he is the candidate? >> i don't know how he is going to fair. i noise spinning a lot of money in texas, california, and other places been a primary you have to win an election districts into qualify for any delegate, you have to be over 15%. as of right now he is not over 15% in any district. but that doesn't mean that another month of heavy tv ads, he won't go to the conventions with a chunk of delegates. i think you could very well go to the delegation with a

chunk. and he could be a player. he could be a factor. and i think that the fact he's going to spend a billion dollars against a trump is good news for every democrat. gerry: i have been fascinated by american politics, journalist have been obsessed with the idea of a brokered convention. we could get to milwaukee in july with no candidate having a clear majority. it has never happened, not for the last half-century. is it real possibility? >> i remember back in 1924 they only had a hundred and three ballots. is that the thing we want? gerry: it would be a great story. but we have a broad spread of candidates, we have a change elect process emits much more even. what's the chance? >> i think it is small. i think you come into super tuesday, and out of super tuesday there will be one candidate who will be very strong and then you have the

rest of the primaries and caucuses. but i think it's unlikely you will have a brokered convention. would it be interesting? i don't know. but the guys in the journalistic community be able to figure out was going on? gerry: we would have a hard time but it would be interesting. it's been fascinating talking to you. i went just one quick unrelated question. justice weekly loss tragically another great basketball player, kobe bryant. i don't know to what extent you knew him a recollections you had of him, just give us your input on what we lost? 's speemac i did not know kobe but i know what he was and what he represented to millions of people around the globe. anytime you see someone in their prime, someone who is with his family go down and this kind of tragedy, it should give us all tears in her eyes, lump in our throats, and caution about whether we take a helicopter.

gerry: senator bradley thank you so much for joining us and congratulations on your show. thank you for giving us an interesting insight into the democratic process. my final thoughts of the very american way of voting and the advantages of meeting your voters face-to-face. don't go away. my money should work as hard as i do. that's why i use my freedom unlimited card every time i get gas. give me a little slack! with freedom unlimited, you're always earning. i said i need some slack on pump three!

and i like to question your i'm yoevery move.n law. like this left turn. it's the next one. you always drive this slow? how did you make someone i love? that must be why you're always so late. i do not speed. and that's saving me cash with drivewise.

my son, he did say that you were the safe option. and that's the nicest thing you ever said to me. so get allstate. stop bossing. where good drivers save 40% for avoiding mayhem, like me. this is my son's favorite color, you should try it. [mayhem] you always drive like an old lady? [tina] you're an old lady.

my money should work as hard as i do. that's why i use my freedom unlimited card every time i get gas. give me a little slack! with freedom unlimited, you're always earning. i said i need some slack on pump three! gerry: to some critics the process that begins on monday

night in fives stations school halls across iowa, is an archaic and undemocratic one. why should the hawkeye state, and then a week later new hampshire, have such an outsize early role and the selection of the most powerful person on earth. they are after all too small states unrepresentative of the larger nation. and the idiosyncratic choices drive the direction of the contest. one candidate this year, mike bloomberg, the former new york mayor is not on the bout the next couple weeks. it's much more democratic to campaign across the country at large. i believe there's something quintessentially american about this process. the so-called retail politics in the early contest mean that the men and women who want to be president have to get out and convince voters face-to-face that they are the right candidate for the job. once these states have voted, followed by nevada and south carolina, we get more of a

national race and it fans out across the airwaves and they pile up the delegates. but these early voting states are like a prequalifying contest to get the big game, you first must have to look to voters in the eye to earn his or her votes. at an age when trust is in such short supply that is not a bad thing. that's it for us this week for the latest show updates be sure to follow me on twitter, facebook an instagram. i will be back next week just before the new hampshire primary. thank you much for joining us.

jack: welcome to barron's roundtable with the sharpest minds on wall street get behind the headlines and prepare you for the week ahead. i am jack on her. we began we will get three stories that investors should be thinking about right now.

there are coronavirus fears but there are opportunities. thrills and spills and corporate earnings last week it's going up next weekend what to expect with palatine with consumers but is unloved on wall street pride what that tells us about the market. i'm barron's roundtable tonight jack how ben -- the market was down ugly this week it was a convergence of forces that cause that. >> today was an ugly day. for most of the week coronavirus wasn't such a big deal. the usual suspects got hit. airlines like united, cruise lines, casinos all have direct exposure to the coronavirus. something else happened today and realize this might be a bigger issue. at the same time you're starting to get some manufacturing data that is also not looking good. there is a chicago measure of economic in that region and is pretty awful today. >> it was the worst showing in

four years. speemac it was this notion going into 2020 as we left this bad economy behind us in 2019. it's going to be better now. the data isn't showing that and the coronavirus is keeping a lid on things. it's just not looking good. >> there is kind of that second feeling on the coronavirus because the world health organization declared at emergency. but they praised china for the handling so far. stockett been down in markets have been down all day traded up on thursday. then there is that second on friday morning is a sharp reversal. >> wasn't a buying opportunity for corona? the market had not sold off. >> a 3% buying opportunity. >> you look at stars back in 2002 there's a period of five or six months and had a double-digit decline and we haven't seen anything like that. maybe that's why sow weakness at the end. and the yield curve converted again not dramatically but it's the sign saying you should keep an eye on it.

>> is just another sign at their the people are getting worried about the environment in terms of the economy they're worried about the viruses they're worried about a lot. >> and stocks are pretty pricey. there is not a lot of margin for error there. >> jack you're looking at earnings can they save us? >> i'm going to win them back now. most companies we are about halfway through earnings season. they are beating is added and the indexes. [inaudible] 's at the end of last year with that there be a 1% decline. now it's a fraction of a decline. if we keep doing this well, we might summit 0% for fourth quarter. i think were going to have balloons. i am going to tell you some thrills and spills this past week. apple beat and the stock when applicable percent. tesla, defies gravity. amazon to sell amazon. but i want to call out general electric. that stock went up 10% earnings good free cash flow going to have more the same. this stockist men trying to

woo me as a columnist for some time now. more than a 50% gain from last year. but i have been heartbroken by complicated industrials before. i am not ready yet. >> and bank of america fell in love upgrade the stock, some gain for ge let's see if it keeps going. >> for the poor people watching us who have been holding ge for decades, we have to point out, there is $30.10 years ago. it's working his way back. sumac up tight about a couple spills xilinx is a chip company that bad guidance and some layoffs over there. and they weren't sure if this is company specific or industrywide. and facebook, that stock was down 6% market zuckerberg said here is his, his goal for the next decade isn't to be liked, but to be understood. i think he is halfway there on the not like part i'm in a call that conservative. he is well ahead of schedule their periods.

jack: 's amazing numbers in the report of their penetration is 250 million people there's 330 million total and a lot of those are babies. so it's pretty -- walter cronkite might've been 30 million at his peak. so the reach of that company just in this country is incredible. another stock that we will be reporting, is one that i think honest ways above the a um in terms of popularity it's palatine. >> what i think is interesting about palatine is my talk the fund managers about their ipo last year they all love running the palatine bike. but they don't attach the stock. 80% of the shares are cut short they think it's going to drop. when they report next week -- sure todd has been losing money but if they have any sort of positive indication, they could be a major shortcoming because there's not that many shares to

borrow. and what that means the short-sellers will have to buy back the stock sending it higher even that i don't like it. >> if i understand correctly a peloton shorts could get chafed. jack: on that we've got to go. coming up having a better returns in the bond market. ♪ ♪

this commute's been pretty rough, huh? it's great actually, i've been listening to audible. it's audiobooks, news, meditations... gotta go! ♪ ♪ hey! you know, i do think it's weird you've started commuting when you work from home. i'll be in my office. download audible and start every day off right. when people ask me what makes verizon 5g different, i talk about the future of search and rescue. rescuers can't save people, if they can't see them. but with the massive capacity of verizon 5g ultra wideband, they could get multiple drones in the air and pinpoint survivors from a command center miles away. that's a difference that could save lives, that's a difference that will change everything.

you may have gingivitis. when you brush, 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.

they get that no two people are alike and customize your car insurance so you only pay for what you need. what do you think? i don't see it. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ jack: facebook stock tank after solid fourth-quarter earnings rather put out this week. an early investor in facebook is now one of its biggest critics. earlier i talked to olivia, elevation partners cofounder

and author of exact, waking up to the facebook catastrophe. jack: roger in case anyone in the audience doesn't know who you are give us the 32nd year history. you started when the biggest tech fund of the time. >> i started my career in the first day of the bull market. in industry were timing was everything i have been the luckiest guy ever. so i was a tech investor before tac was really a factor. and as a consequence i have enjoyed the benefits of the greatest tailwind any investor could have. and i started three forms of my own after i left the road price one integral and silverlake, and then elevation with a bono, the singer from youtube. which is where i got involved with facebook. but i've been blessed to be involved in some of the greatest tech companies in america for the last 37 years. maria: said you were a mentor to market zuckerberg and had a wonderful relationship.

and then you thought things would not face but didn't fit your value. >> i thought this is where you could talk to friends was a great idea. in 2016, the beginning of that year i started seeing things going on inside facebook that just did not fit my rosy view of the company. in october i reached out to mark and sheryl sandberg denied also been an mentor to cheryl. i tried to warn them. saying there is something about the business model, the culture and the algorithms of the company that allows bad actors to harm innocent people. and i begged them to get on top of it. again this is nine days before the election of 2016. after the election, i continued to talk to them for three months. they just were not interested. they were polite, they talk to me, but they really were confident that they had it under control. and i was really afraid that if they kept it up, there would be huge implications for

the economy, for the stock, and for society. that's when i decided to become an activist which for me was a role i never anticipated. jack: can give us a concrete example that you saw that made you think it was different? >> on the beginning of 2016 because i was a huge fan in the bed and i was love the products. and i saw posts from friends of mine that were originating in facebook groups originate with the bernie sanders campaign. they were basically hate speech. i thought that doesn't make any sense. and then about two months later, corporation was expelled from facebook for scraping data, using the add tools to gather identity data on anyone interested in black lives matter. then they were selling that to the police department violation of the civil rights act. and then in june it all came together. that's when i first understood all my god, the same add tools that are so valuable to all these companies in the economy

can be used to undermine democracy. and that's what i really dug in and try to understand what was going on and ultimately reached up to mark and cheryl. jack: to their two issues our personal privacy is being scraped, and what effect that has with the bigger picture. >> as an investor i believe technology is one of those things that can empower the people that use it. if the business model and there are three elements we need to address. one is the use of algorithms to amplify things in order to capture people's attention. they don't just give you a newsfeed of what's happening in your life. they pick stuff they think will emotionally engage and cost you to spend more time. it turns out for most of us, triggering flight or fight is the best way to do that. so outrage and fear. that is hate speech conspiracy theory. the business model thrives on the negative content. the second piece is micro- targeting.

then you have so much information about people, that you are able to create an ability for advertisers to isolate exactly the people they want. and to essentially buy from facebook a prediction of future behavior. and with that they can control the choices available to people and drive them to places. politics that has been disastrous. as you create but his filter bomb drills where they are isolated and hermetically sealed bundles. and the last piece is the industry as a culture where the data is there's not yours. it may come from you, but you have no rights. so they have what's called an opt out model which is they have all the rights unless you force them to take it away. i want to shift all of that to opt in and say i'm sorry if you're going to use my data you need to use my permission every time. jack: what other changes would you make? >> i think those three the starting point and then you want to look at the economy and what you need to do to simulate more

entrepreneurship. facebook, google, amazon, and now microsoft have massive monopoly power. as a consequence start ups are getting choked off. i look at that and i think all of the money is being diverted into delivery service and crypto currencies and things that may be interesting and attractive but aren't as important to the economy are not as valuable as reengineering the internet for the next generation. i want to get back to that. we are not going to be able to do that without some use of the antitrust laws. i want to follow the models with at&t which gave rise to personal computers and gave rise to software and the internet. antitrust laws in tech has been great for investors. i suddenly forgotten because it hasn't been on for so long. every major wave of tech has been driven. if you go in and deal with algorithm implications, micro- targeting comments switch to opt in versus opt out, then you have laid the ground work for antitrust to give us the

photo entrepreneurial economy that any investors going to salivate over. jack: sounds great, roger mcnamee thank you very much. we reset the facebook for a response but they did not respond back. marcus zuckerman said falsehoods could be given to a large on our platform. i don't think most people want to live in a world where you can only post things that tech companies judged to be one 100% true. in an earnings call last week he said facebook had more than 1000 engineers working on privacy related projects. we'll be right back with ideas we'll be right back with ideas on how to get better woman: friction points, those obstacles that limit a company's growth. i try to find companies that turn these challenges into opportunities. it's these unique companies with creative business models

that will generate value for our investors. that's why i go beyond the numbers. that will generate value for our investors. through the at&t network, edge-to-edge intelligence gives you the power to see every corner of your growing business. from using feedback to innovate... to introducing products faster... to managing website inventory... and network bandwidth. giving you a nice big edge over your competition. that's the power of edge-to-edge intelligence. every year, our analysts visit thousands of companies, in a multitude of countries, where we get to know the people that drive a company's growth and gain new perspectives. that's why we go beyond the numbers. t. rowe price. invest with confidence. that's why we go beyond the numbers. 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.

jack: the bond market has been on a bull run for about 38

years. frequent predictions of his demise keep proven wrong. greg peters of fixed income gives us his view on bond the land. greg you have a wonderful phrase on what he reports re- describe the economic backdrop as exquisitely mediocre. what he mean by that? >> what i mean by that is the seemingly oxymoron is the 2% growth with very little inflation, is very good for bond investing. and so the economy doesn't run too hot, you're not falling into a recession, and that is a really good environment to be in bonds. jack: we got a story, whole package about bond investing. and other interesting points active management in bonds has done much better in the index then active matters in stocks. they are usually down, but you have beaten it. what have you done with that economic backdrop strategically to outpace the index? >> i think being an active manager and bond is essential.

just because the nuances in the idiosyncrasies of the bond market. bubble we have been doing is we have this belief that yields will go low, and move lower until we have a long duration. we have been pretty bullish credit risk as well. so we have been invested in high-yield, emerging markets and corporate's. jack: what would cause you to seo for intake some of risk of the table? >> evaluations would have to move more meaningfully. we aren't there yet. have to be a situation where the economy starts to deteriorate in a meaningful way. i don't think where there yet. so i still think we have some time as this cycle seems like a still has legs. >> so won't you say you are avoiding in the scenario right now? >> the mom part of the market we continue to avoid is a lower echelons of the riskier part of structure products. so the top part of structure products or the aaa's and aa's, we like a lot, but investors have plowed into the

double bees and triple bees of that world because they need yields and they need the leveraged yield. so what happens there is that it really creates an opportunity for us, aaa holders, but the bottom part of the capitalist structure is extended in my mind. jack: one thing i noticed in your folios is a high concentration of foreign bonds even in your core bonds. portugal is an issue, why is that? >> it's a really good and environment to be a dollar investor outside of the u.s. it's a currency heads coming back. at the same time, if you look through europe with a proactive in the. field part of your trading much wider than say germany or france. jack: which are negatives. >> exactly we think that will continue to compress because that's what the ecb is trying to achieve. and i think over time, you will see that continue to narrow. >> how long have you been holding those portuguese bonds? >> for a while. some of our biggest holdings

have been in the periphery. it also adds a lot of diversification to u.s. in high-yield corporate's here in the u.s. but we have been holding them now for several years or so. and so when greece was in the midst of its crisis, that's when we really became quite bullish on greece. we have been holding it ever since. sumac this is the most of bullishness i have heard on bonds. everyone says cautiously optimistic. you are flat out optimistic. >> and bond investors not flat out optimistic because the upside is usually constrained. but i do think there is too much negativity currently. and it's easy to be negative. there's lots of things coming across the headlines. but unless you truly believe there is global, economic recession, then i think it's really hard to get overtly negative on the bond side. p9 i want to go to been briefly with baron's equity over land.

>> we are also looking for income but we looked at stocks overseas. we found in places like vargas, which is a pharmaceutical company like the ones here like eli lilly but has a slightly better dividend yield to it. we also found in china with china mobile. it's a stock that barron's likes a lot it happens and pay dividends of 4%. so for u.s. investors who might get 1.5% off of it ten year treasury and 1.8 off of the s&p 500 on the dividend yield, you can actually get more dividend yield outside the u.s. jack: real quick before we go, greg, what is the fed get it in next, raise or lower? >> i think they're on hold. if you look at the price action of the market this week the market is saying you need to cut again. i think it's too premature and too responsive to current events. so i think they are on hold. but with the market is interpreting is that if the economy does deteriorate they are ready and they will cut.

jack: up next roundtable members give their upcoming investment ideas for the next week. stay right there. ♪ things you can do with schwab: ♪ you can earn more when you invest your cash. ♪ you can get a satisfaction guarantee. ♪ you can also wonder why our competitors don't offer that. ♪ schwab, a modern approach to wealth management. ♪

jack: after finishing off the week with some ugly news the market, dow down more than 600 points, coronavirus, jack you are optimistic. >> three bullish points fourth quarter growth for the s&p 500 was pulled lower by a couple big companies exxon and boeing. if you look at the meeting company the typical company was actually 4% growth for the fourth quarter. cyclical is where the big drag last year on earnings they will be a contributor in 2020

to help out growth. and coronavirus, i would point out fully point out them market to what happen with stars in 2002 remember the ten year treasury yield was 4% back then. so only 1.5% now. where you can put your money beside stocks? jack: fen cyclical is what they're talking to your bullish on energy. >> this is been one of the worst at january's and record first energy stocks. so look through spider etf it is gotten killed and could be worth taking a look at. >> t-mobile is a deal goes through you get the cost energies. if it doesn't go through, you have a company who still growing subscribers and may reinstate its buyback. you also remove the ratings are a overhang that may be weighing on the stock. if it doesn't go through there might be a short-term depth, the prospects will be better. jack: t-mobile looks like the winter. >> still growing subscribers

of course. jack: thanks everybody to read more check out this week's i'm barron's.com and don't forget to follow us on twitter at barron's online. that's all for us, see you next week on the barron's roundtable. lou: good evening, everybody. today has been a day the likes of which are rare in our nation's history and perhaps unprecedented. first on wall street, a major sell-off. the dow jones industrials losing more than 2%. the s & p down almost pass much. on capitol hill republicans voting to block witnesses in the radical dimms' impeachment trial. >> are there any senators in the chamber wishing to change his or her vote? if