hi, everyone. welcome to "on the money." i'm becky quick whanchts kuz the change in washington and the jobs report mean for your money. one of the richest, most successful investors around. ron baron tells fuss he thinks stocks are cheap and when he thinks the dow will hit 60,000. whether you are looking for a job, promotion or getting ready how to dust off the resume and why you need to think social "on the money" starts right now. >> this is "on the money," your money, your life, your future. now becky quick. >> here's a look at what is making news as we head to a new week on the money. the unemployment rate is the

lowest since july of 2008. the economy created 214,000 new jobs in october, slightly below expectation. the unemployment rate fell to 5.8%. that's the best level in six years. data for the previous months were revised higher. stocks continued to hit new highs during the week. the dow and s&p 500 getting a post election bounce midweek and setting all time new records. crude oil keeps dropping hitting a four year low and plunging below $80 a barrel due in part to weakening global demand and increasingly american supply and strong er dollar. big earnings news this week. alley bab ba beating expectations so did tesla. entertainment giants 21st century fox, time warner and cbs ahead of predictions. if you are waiting if for the special delivem amazon you may want to keep an eye out for

a cab. the company is testing package delivery by licensed taxis on the west coast. it's party time for the republicans. the markets set new records and it's all about jobs. what does it mean for your money? join us are ben white and jason trennert who is chief investment strategist. thank you for being here today. jason, why don't we look at what happened with those jobs numbers. not as strong as some expect but revisions were pretty good. >> pretty good. in general you have to look, the unemployment rate is 5.8%. the participation rate is actually picking up. the u-6, which is the under employment rate is actually at a level where the fed started to tighten in 1994. these things are good, certainly in the right direction. one thing important for the fed, wages those are still restrained but looks like they have bottomed. all in all a good report in the

right direction. >> good report in the right direction. ben, how do we explain what we heard from the exit polls over the last week. people walking in to the polls walked out saying the thing they were most concerned about is the economy. >> people are upset because of the wage number and the jobs number 1.5%. it is not good enough. people are unhappy with the economy and the president, his performance. that's why we saw republicans do as well as they did. took the senate, took governor's mansions in maryland, massachusetts, illinois, a lot of blue states but this was not a vote of confidence in the republicans. this was a vote of no confidence in the economy. the republicans have to come in thinking what can we do to make it better. i am pessimistic they will get many things done. >> what can we look for and really expect? >> the things that are possible are trade deals. republicans and democrats may want to trade deal with asia, europe to give the president fast track trade authority temperature you could see movement on corporate tax reform which would lower the overall

rate, close loopholes. i think the well is poisoned a bit. obama will come out with a unilateral immigration move. there is a narrow window for bipartisan movement for tax reform. i think it will close fast and i don't think we get there. >> jason, let's play that out. one of two options. a few things get down done or gridlock again. what do the scenarios mean for the market? >> the good news is that the bar is so low and expectations are so low that anything good that gets done from washington. >> a heck of a silver lining. >> right. it doesn't have much impact on the markets. really an opportunity cost more than anything else. there are other things like medical device tax that could be repealed, keystone pipeline. those things might be able to get through. i don't think it hurts the market. i think it is largely all upside. mainly because you have had gridlock for such a long period of time and one thing you can

hope for on the gridlock front is a lack of confrontation on the budget and debt ceiling. i think what we want to look for from the congress and mitch mcconnell, incoming majority leader said it is his goal to get the senate working and vote on some things and not shut down the government or have a threat of default. if they can deliver on that and not do negative hits to the economy like in the past maybe that is beneficial. certainly not going to hurt the way we have done it in the past. no self inflicted wounds would be the best to hope for. >> jason, you take all of this, the election, oil prices which have been incredibly low. take what you have seen with the jobs report and throw it in with the economy. add ift up and what are you telling investors right now. >> we are optimistic. it is really despite what is happening in washington opposed to because of it. i think lower oil prices are unambiguously good thing. there are certain parts of the economy that may feel the heat from it but generally speaking the u.s. economy 70% consumer

spending the propensity to save from lower gas prices is high. the jobs picture is better. i think one of the things that people might miss or forget is earnings are at all-time highs and the markets are all-time highs and so are earnings. in a world where you get 230 from ten-year treasury, a lot of equity and stocks look compelling. you have a third of the s&p 500, third of the companies in the s&p 500 have higher dividend yields than ten-year u.s. treasuries. i'm optimistic and i think multiples probably continue to rise. the biggest risk is if you get higher inflation and i don't think that for a while. we don't see that for another year or two. we're actually pretty optimistic. >> all right. jason. >> we could use wage inflation. >> that would be great for the economy, too. thank you for your time. next up, secrets from a mutual fund guru. what billionaire ron baron looks

for when he invests his money and yours. and how west point is moving to the top of the class with an innovation born out of centuries of tradition. and a look at how the stock market ended the week.

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♪ ron baron is a legendary mutual fund manager with a reputation of picking long-term and lower volatility stocks with his money and that of his clients. i spoke to him from the baron investment conference that boasts of the theme "built to last." you could say that about his portfolio of his fund and his career. >> when i was 14, i saved up money, 13, 14, i saved up money and i was allowed to invest it and i had to give it back when i went to college to pay for college.

it was on my own i became interested. there wasn't anyone who's really a person who got me interested or turned me on. there was one of my uncles who was a professor of engineering, and when i was in law school he said, listen, if you are interested in the stock market, i know your dad doesn't want you to do this, but if you are interested in the stock market you need to read this book. and i read this book. it is by joseph granville. crazy man but one point was interesting to me about everything is the opposite of what you would expect. when news is bad you are supposed to buy. when news is good -- it was contrary. everything was interesting. >> what is the secret to your investing decisions? how do you pick a company? how do you pick a person? how do you know this is who i want to bet on? >> i tell people, when i describe our process about being about people, that we invest in people, it sounds complicated but really isn't.

it is something you do in your life from the time you are a child. when you go to kindergarten, you know who you like, who you trust, who's the smartest kid in the class, who you want to be your friend. that's all this is. try to find these businesses that have this big opportunity that other people can't easily do and then it comes down to people who execute. doesn't matter how big the opportunity or how great the advantage. if it is not someone making it happen it is not going to happen. i didn't start off to be a long-term investor. how could you? you don't have perspective. you start off trying to buy something for less than it is worth and it goes up in value and you sell it. what happened is i started to make these investments and it was federal express, it was nike, it was disney, it was mcdonald's, it was mattel, all of these companies, all of these businesses i was investing in and i would be making -- i was a stockbroker and i sold it to hedge men, 100 clients. i made them a customer and sold

my research for commission. so i got paid on the basis of commission. so i'd recommend a stock to someone and then it would go up two, three, four times an i would sell it and get a commission on the other side. then what happened is i would go to the next one, and then what would happen is i would look back after several years and look back and say, oh, my god, i could have been rich. >> if you weren't selling them and didn't hold on to them. >> i didn't have much money. i didn't have enough net worth. >> you think the dow will go to 60,000 do you think that is the case. >> the economy is growing 6.8% a year. the economy in 1960 was 520 billion. the economy in the united states in 1950 was worth less than apple was today. that's the united states. the stock market, the dow jones

was 600 and now 17300. 6.4% a year. at 6.4% a year, that's depression, inflation, recession, terror attacks, wars, 6.8% for the economy, 6.4% for the stock market. it is not every year, not like this, it is like this. >> right. >> so what i think is -- when you add in dividends it is 8% a year. what that means is the stock market doubles every ten years and it has since 1960. i don't see any reason why it is not going to keep doubling every ten years because i think the economy will build every ten years. think of what was different now than i was before. telephones, i can't believe i missed apple with my kids, the iphone comes out and all of a sudden all my kids do is spend time there with the stupid iphone by the swimming pool and learning how to do it. trying to beat each other with it so the changes that have

taken place in our country in such a short period of time and this is not, you know, continuous growth. this is exponential growth. >> my thanks to ron baron. up next, we are "on the money" looking at the future of education by taking a few lessons from the past. how the u.s. army is ahead of the curve when it comes to creating future leaders. >> our motto at west point is much of the history we teach is made by the people we taught. later, could your resume be sabotaging your job search? how to improve your chances of getting a better job, another job or just getting hired.

♪ with the card most accepted in the philadelphia region, you have the power to do more. independence blue cross. live fearless.

♪ ♪ >> on the code of arms of the u.s. military academy at west point is the phrase "duty, honor country." you can add to that innovation. west point took a required history course and rewrote the book literally thanks to a legacy of engineering and a

taste for entrepreneurship. ♪ >> our motto at west point is much of the history we teach is made by the people we taught. ♪ >> one of the nation's five military academies may be an unusual place to find a tech start up. this one's about 200 years in the making. >> we have been teaching military history here since 1818. the history of the military art. eisenhower took it. persian and patton took it. patton loved the course and he wrote in his text book what he thought. we have taken a course that is so old and a sthaubt many would think very stayed, military history and have completely revolutionized it to be all digital, to make it an immersive, to make it an experience of war, to make it tactile. >> first time i have had a text book on a tablet and it has integrative movement. >> it shows how they placed

troop and flanked and maneuvered against their enemies and it bridges history alive. >> we have a book in the department of history that goes back to 1969 and records every grade from every class. there is a 46% increase in the this amount of a's. >> covering warfare from plato to nato, this text book sounds 21st century. >> we want to keep the smell of gun pouder in the course. >> reporter: since west point's earliest days during the revolutionary war, tactile scientific training is key. >> if you went to yale or harvard they would be teaching the classics, greek, latin. here we are a practical school for engineering, math, sciences. that's our heritage. the businessf creating a business is not our business. >> but it is the business of rowen technology solutions. a company founded by west point grad vinnie viola. he is the executive chairman of high frequency trading firm.

his investment of a few million dollars kick started the project. >> i think of a high-tech company together with west point. how did that take place? >> west point essentially approached us and said we want to rewrite military history and bring it to the 21st century. so really the project started with some purely philanthropic roots. a couple of us came up with an ideaed we wanted an endowed text book. we needed a sustainable model where some of the revenue would come back and support it going forward. >> it looks like ohio. >> there's ohio. >> that was a quiz. i wanted to make sure you knew where it was. >> it shows the white male population, go to a populous southern states. >> more slaves than white males in south carolina at this point. >> uh-huh. >> it took three semesters for west point to take thousands of years of history. >> we wrote a million words, a thousand new maps 4rks 9

authors. >> and get it in the hands of 1200 cadets. >> that's who we bay beta tested it. it is supposed to be a small sampling. we didn't do that. >> i would imagine a lot of people who aren't military who would to get their hands on something like this. can they it. >> we have come out with the west point history of the civil war which is six chapters of the 71 total war. it is available for any device you have. war is not like business. it's not like sports. it's not like law. war is complex. we, as an american people, are not militaryistic but we go to war a lot. so citizens need to understand war to be good citizens. >> special thanks to the west point band whose music you heard throughout the piece and west point plans to continue developing future chapters for consumer and other universities. we want to take this time to wish happy veteran's day to all

who served. we appreciate your service. thank you. up next on the money a look at the week in the news ahead. if you are looking if a promotion, better job or any job at all why your resume is only half of the battle.

♪ with the card accepted by 90% of doctors in the philadelphia region you have the freedom to relish right now. independence blue cross. live fearless. for more on our show and our guests go to our website and you can follow us on twitter @on t

money. andings reports continue with retail giants wal-mart, macy's, jcpenney and kohls and cisco. forever young on monday the children's show sesame street turns 45 years old. wow. also, in honor of those who served tuesday is veteran's da. on thursday the treasury budget comes out. friday, october retail sales figures released. that's an important number because 70% of the u.s. economy is based on consumption. the consumer sentiment report is also released on friday a great sign for those seeking employment. the u.s. added 214,000 new jobs to the economy last month. if you are looking for work, promotion or another job. right now might be the time to dust off the resume but getting through the door takes more thought and preparation than in years past. sharon epperson is joining us right now with what you need to know about your money and your future. hey, sharon. >> how are you doing, becky? >> good. >> a lot of people don't

understand that hiring managers spend five minutes or less looking at a resume, trouble probably less. it is important you come with your best foot forward and understand that you are presenting yourself, you are marketing yourself to this potential employer with this piece of paper, with the on-line resume, with your linkedin profile. it has to be a fwrat reflection of your qualifications and what you can do and what you have done and what you can potentially do for the company. >> if i have, let's say, less than five minutes, what do i do to make sure my resume stands out sdplit has to be in chronological order, formatted consistently with bullet points, tailored to a specific industry. there are other things to perfect the resume. one thing is to make sure that you summarize what your qualifications are at the top. let folks know what you have done, how many people you have managed, what kind of budget you have, what your industry and focus is. look at providing more detail in

those bullet points and quantity fie the details and making sure you use key words relevant to the industry. often times they are submitted electronically. sometimes they are looking for those words and you want to know the relevant words. maybe they are in the job description. use them in your resume. >> you have to know how to speak the lingo. >> definite ly. >> what about bad resumes. >> worst is one that people can't read or not enough information for people to think you have done enough to want the job. if you have a lot of white space or it is too crowded, toor nate, the font may not work if you send it electronically and don't just have a list. you may have had ten jobs at a company. what are the most important results. that's what you want to show. >> we are living in dagtal age and i know managers that will look them up on-line and check them out. >> you have to have a digital

presence and know what your on-line presence is. you want to have a linkedin profile and on facebook and twitter. you can write blog posts so people can have context what you are about. realize a lot of the submissions, a majority of them are digital. they are on-line application for the company. so you want to make sure that your resume reflects that and easy to read. it gives you an opportunity to do hyper links to publications you have been in. >> i guess it is good to be out there digitally but not too much. you realize people will be looking at your facebook. >> i'm amazed at how many people don't google themselves before a job interview. sometimes nothing will come up, that can be a problem, also. you want to have some type of digital presence but if there is something negative you need to be able to know and explain it right away. >> sharon, thank you. >> that's the show for today. i'm becky quick. thank you so much for joining me. my guest next week, beauty by

subscription. the woman behind birch box. have a great weekend. ♪

nbc 10 news starts now. >> right now on nbc 10 news today, a woman is dead after a shooting in a philadelphia neighborhood. now police are looking for the person who pulled the trigger. plus, back on american soil, two men who were being held in north korea working in labor camps have been reunited with their families. >> a cloudy start to our sunday as we take a live look over center city. eventually the sun will be out. good morning, this is nbc 10 news today. i'm rosemary conners. michelle grossman is tracking the clouds outside. you were telling us the clouds