but really, the fortune 500 companies are sitting in trillions of cash that is why we have mergeer mania cheryl: david, i want to get your you know take on this whole market, because, many retail >> i don't know about next year, i worry about market change the rise in interest rates we know that fed is on hold in interest rate for the year, we know they will taper, we know that when you put a pencil on the market, after last year's great move, and you said at en of the year we might have 1900 on s&p, people thought we were nuts we're at 1950. cheryl: i think that pig concern is theic -- the big concern is the economy u.s. economy and gdp 2% over last 4 years, maybe not so great, but, talk about apple, big stock split for apple. you know, you have a huge stock split like apple the reason is to make it more attractive is this good for apple? are retail investors going to jump in. >> today, for example, i had unsolicited 5 to 6 clients call, and buy apple. >> because of the split. >> because of the split, some people, even sophisticateed investors they will -- they like it when it splits, i

gerri: with big wave of mergeers, are stocks over values? joining me our financial panel.avid nelson, todd siperman. and jeff car ban bon, tell me ae stocks overvalued? >> i don't think so there froth in 7 stocks and sectors but look at valuations they are well within norms, we'll have that conversation every time we break through an all-time high. gerri: todd, schiller p/e makes it look like stocks are way overvalued, do you agree. do you think that market is toppy? >> it could be. in this environment the question for firms are how will they compete for instutional investors when they can't do it based on stock picking about building a successful compliance firm, you take market risk but not firm risk that means building operational compliance producinfrastructure. gerri: that sounds confusing and complicated. what about you? do you think people should think about putting money on sidelines, a lot of people in summer do that. >> i think norm is to try to sits on sideline, stel i sell i, go away. it has not shown proof yet to do that with first quarter led by defensive pos