the first is zimmer biomet holdings. what in particular does this company do and why do you like it? >> sure. zimmer is a manufacturer of artificial hip and knee implant. and the company has high returns on capital. we think they're sustainable. they keep out competitors. the company bought biomet the june of 2015 and we think they have a great opportunity to take costs out of the system and take already high returns on capital modestly higher from here. the priority is to pay on the debt to net action by session. you have a company with high returns on capital. we think they're sustainable and a very good achieved valuation so we think it is a good pick. >> this couldn't be any farther from artificial hips and knees as you can get. >> so this is relative to other energy-related companies. it is less cyclical and it has a good mix of good stream and up stream businesses. between 2010 and 2014 the company invested in a major cycle in oil and gas properties. as those assets continue to come on stream, we think they can buy

only days after cnn reported price invested thousands of dollars in the medical device maker zimmer biomet shortly before introducing a bill to benefit the company. price's legislation sought to delay regulations that would have changed the way medicare pays for hip and knee replacements, thereby cutting into zimmer biomet's profits. we will have more on congressman tom price's confnfirmation hearg later in the broadcast. confirmation hearings were also held wednesday for billionaire wilbur ross, trump's pick for commerce secretary. estimated $2.9n billion. if confirmed, he will be one of the richest people to ever hold public office. during the hearing, ross admitted he had recently fired an undocumented immigrant who had been working in his home since after rechecking all of 2009 his household employees' documentation status. former south carolina governor nikki haley also went before the senate for her confirmation hearing to serve as united states ambassador to the united nations. during her hearing, she criticized the u.n. for what she claimed was its bias against israel, and she said

franken, as senator franken, and that is zimmer biomet. they're one of the world's leading manufacturers of hip and knees is and they make more money if they can charge higher prices and sell more of their products. the company knows this and so do the stock analysts. so on march 17th, 2016, you purchased stock in zimmer biomet. exactly six days after you bought the stock, on march 23rd, 2016, you introduced a bill in the house called the hip act that would require hhs secretary to suspend regulations, affecting the payment for hip and knee replacements. is that correct? >> i think the bbci program, to which i think you roefeferred, a strong supporter of, because it keeps -- >> i'm not asking you why you support it. i'm asking, you did you buy the stock and then did you introduce a bill that would be helpful to the company you just bought stock in? >> the stock was bought by a broker that was making those decisions. i wasn't making those decisions. >> okay, so you said you weren't making those decisions. let me just make sure that i unders

early last year he bought stock in zimmer biomet.usd a price to zlay regulation that would be harmful to the company. zimmer bichlt omet then later donated to his fund. the company had no knowledge of trumps zimmer biomet purchase. cbs has reach ed out to both price and the trump transition team and have not heard word back. and, whed economic forum just got under way. xi jinping made a strong call for globalization, never mentioning the president-elect forectly but said no one would mentions a winner in a global trade war. >> the chinese leader urged emergees not to pursue their own interests at the expense of others, pursuing protectionism tionism locking oneself in a king room and vowed that china will keep its doors wide open nd not close it. she also asked nations that sign the paris agreement to stick to it. mr. trump has questioned that to . >>> european leaders are uestione criticizing the president-elect for his comments >> on nato and britain's exit from the european union. from the london times and tabloid bild, number one

of his record and the stock trades he has conducted specifically one into a company called zimmer biomet, and the democrats say price then co-sponsored legislation to help that company, and look at what chuck schumer had to say earlier in the week. >> the legislation specifically affects implants and he puts it in a week after he buys the stock? that cries out for an investigation. >> by the house ethics committee? >> by the house ethics committee, or who knows. if he knew about it it could well be a violation of the law. >> reporter: democrats are asking for his official hearings to be delayed because of this particular inquiry, and part of the calculation here, steph, is that tom price is a lynchpin in republican plans to repeal the health care law, the affordable health care act, and if you listen to what donald trump and vice president mike pence has to say about this, and they will say let's wait until he gets confirmed and we will talk about how to replace this law, and they are going to rely on him for re-writing that, and for democrats, holding him off staves that off. >> courtes

time as pursuing legislation offering a bill that would delay a medicare rule that would hurt zimmer biomets after they donated to mr. price's campaign. the trump campaign is dismissing any questions about the report saying this is much to do about nothing, and it was not a whole lot of money and he was not influenced by the campaign contribution, and it was purchased through a broker. after mr. price learned in april of 2016 about this stock that was purchased through a broker, he continued to hold on to that share, and only recently, carol, announcing last week that if confirmed as hhs secretary he would divest. he also is tapped to lead the effort on capitol hill to repeal obamacare and this comes as donald trump tells the "washington post" this week that his plan would ensure everybody will have access to health care, and many are unaware of any plan trump is pursuing on health care, and there's frustration that trump is talking about expanding coverage than lowering costs. a lot of confusion, but exactly what donald trump is pursuing because the republicans on capitol hill are looking

that's according to cnn, which reported monday congressman price purchased shares of zimmer biomet last march -- less than a week before introducing the hip act. the legislation would have delayed regulations sure to cut into the company's profits. senate minority leader chuck schumer this week called for the office of congressional ethics to investigate whether price violated the stock act, which restricts insider trading by members of congress. donald trump's pick to head a senior communications job, monica crowley, has stepped down after a cnn investigation uncovered repeated incidents of plagiarism. the radio talk show host and fox news contributor said she would relinquish her appointment at -- and would remain in new york. her announcement came after cnn reported incidents of plagiarism in her 2012 book, her columns for the "washington times," and her 2000 phd dissertation for columbia university. treasury secretary nominee steven mnuchin is far richer than previously believed, with a net worth as high as $400 million. "fortune" magazine reviewed financial disclosures by mnuchin a

rebalancing of the portfolio, the financial adviser directed the purchase of 26 shares in zimmer biomet, worth under $3,000. the adviser notified dr. price of the purchase on april 4th, 2016, and dr. price disclosed then periodic transaction report on april 15. now, dr. price began hiss legislative effort related to the comprehensive joint replacement project in 2015. with one exception, all of dr. price's stocks are held in free broker-directed accounts. near he nor his wife, direct or provide input in investments in these accounts. innate immunno therapeutics is the one exception. dr. price decided to invest in, i'll just call it, based on public information regarding his work on multiple sclerosis treatments, as a disease. he has been intimately involved in treating for years. he directed the invesents based on hiswn research into the company, invested $10,000 in the company in january of 2015 and reported the investments to house ethics in february of that year. he made an additional investment in september of 2016 and also disclosed that investment. he has corrected his filing rega

now we've talked a little bit about the zimmer biomet, your broker, you say, you did know this, bought it on march 17th, 2016. you did introduce a bill later, a week later, on march 23rd, 2016. you say that you did not know then. that you had this stock. it was to delay a federal rule that would have reduce the profitability of the companies to delay a rule that would hurt the company. what i don't understand is once you found out that your broker bought it, you kept the stock. you purchased this 50,000 to $100,000 worth of stock in a biomedical company called innate immuno. the single largest purchase in the past three years, in a private deal that was not made available to the public. and i find it absolutely amazing that you responded that you did not know that you got a discounted price. that is absolutely amazing, because we discussed this. >> by definition, i believe, that is the nature of a private placement offering. what i said to you and what i've said to others is that i paid exactly the same price as everybody else. i disclosed it. >> it was a private offering that only wen

zimmer biomet's political action fund donated.to both for comment but we've not heard back. >>> president-elect donald trump has scheduled a trip today to washington. other world leaders are in davos, switzerland, where the world economic forum just got under way. xi jinping made a strong call for globalization. he never mentioned the president-elect trump directly but said no one would emerge as a global trade war. >> xi said, quote, pursuing protectionism is like locking oneself in a dark room. xi also asked nations that signed the agreement to stick to it. mr trump has questioned that deal. >> europeans are credit psychs the president-elect for his comments. mr. trump argued nato has problems. he said, quote, number one, it designed many, many years ago. number two, the countries aren't paying what they're supposed to pay. germany's former saeign ministe that the comments were viewed with anxiety. france's president hollande said europe does not need outside advice to tell it what to do. >>> hundreds of thousands of people will

liz: one of the important trades, biomet, the trump transition team is heated about this coverage bya retraction. saying his morgan stanley account was only going to be traded, made $300 on it according to sean spicer. they are saying this is not a story. he didn't really know about the trade. stuart: what you said to elizabeth, or somebody said it, don't expect tom price, the gentleman on the left, don't expect him to come out with his plan for the replacement of obamacare today. however -- liz: there will be bills. stuart: on the panel asking questions is senator rand paul who was on this program about an hour ago. ashley: he has a plan. stuart: he's got a plan. i would expect him to use this occasion to say what that plan is. you'll love it. you know what it is. >> i know it is based on your ability to tailor your own policy, even from out-of-state insurance carrier which today today inexplicably is illegal. stuart: i will not guarranty but senator paul will say, here is my plan, dr. price what do you think? we're concentrates on tom price's hearing. i think lamar alexander introd

we talked a little bit about the zimmer biomet. your broker, you say, bought it on march 17, 2016. you did introduce a bill later, a week later on march 23, 2016. you said you did not know then that you have this stock. it was to delay a federal rule to reduce profitability of the company's joint -- to delay a rule that would hurt the company. what i don't understand is what you found out your broker bought it, you cap the stock. -- kept the stock. to purchased this $50,000 $100,000 stock in a biomedical company. the single largest purchase in the past three years. in a private deal that was not made available to the public. i find it absolutely amazing that you responded that you did not know you got a discounted price. that is absolutely amazing. we discussed this. by definition i believe that's the nature of private placement offer. i paid exactly the same price as everybody else. i disclosed it. senator franken: it was a private offering the would to 20 people, including representative chris collins, his chief of staff in a prominent d.c. lobbyist. you reported $50,000 to $100,

rebalance office the portfolio can the national adviser directed the purchase of 26 shares in zimmer biomet worth under $300,000 the adviser notified -- prize of the perform on april 14, 1016, and dr. price disclosedded them on his house periodic transaction report on april 15th. dr. price ganofs -- -- in 2015. with one exception all of doctors price's stores are held in three broker directed accounts. neither he nor his wife directly provide input regarding investments in these accounts. innate immune mow therapeutics its the one exception. dr. price decided to invest in -- i'll just call it -- based on public information regarding his work on multiple sclerosis skis treatments as a disease help has been intimately involved the treating for years. directed the investments based on his own research into the company. invested in the now january 2015 and reported the investments to house it thicks in -- ethics in february of that year. he has corrected his regarding the value of his shares and agreed to sigh divest all share independent at the country. itself that correct? >> the information

rebalancing of the portfolio, the financial adviser directed the purchase of 26 shares in zimmer biomet under worth under $3,000. the adviser notified dr. price of the purchase on april 4th, 2016, and dr. price disclosed them on his house periodic transaction report on april 15th. dr. price began his legislative effort with the joint replacement demonstration project in 2015. with one exception all of dr. price's stocks are held in three broker directed accounts. neither he nor his wife directly provide input regarding investments in these accounts. inate immunotherapeutics is the one exception. now, dr. price decided to invest in -- i'll just call it out -- based on public information regarding his work on multiple sclerosis treatments as a disease. he has been intimately involved in treating for years. he directed the investments based on his own research in the company, invested $10,000 in the company in january, 2015, and record the investments to house ethics in february of that year. he made an additional investment in september 2016, and also disclosed that investment. he correct