and his name is not mondelez, that is the name of his company.g through the newspapers. i think that this is really interesting. in the news, as it were, saudi women allowed to start business without male position. —— permission. saudi arabia changing their laws, there are regulations, empowering women in more and more ways. vision 2020 is designed to for women to have a greater part in saudi society, so i guess in a way that we would think of in a western country, a new more liberal leader in saudi arabia. fields ironic, seeing this headline, in western newspapers... women allowed to do things... they can drive cars, go to a football stadium, start a business without a man giving them permission to do so. is... overnight it is doubling the size of the human resource, could be the most extraordinary economic effect. the one thing they have recognised, they need to shift the economy away from the old oil based economy toward something more diverse, if they are not tapping into 50% of their talent in women, they will not achieve that. lots of repor

. >> mondelez is stepping down he's got a lot to do on the other board. >> procter & gamble. >> do notraw any conclusions other than a replacement of the director as a result of mr. peltz says if he's on that board, he'll cut back. >> he's going to spend a lot of time in cincinnati proctor is going, that's a shrinkage of multiples nothing has really changed in terms of the number of proctors other than going up because of the weaker dollar. >> what's an appropriate multiple for p&g >> i think facebook. facebook is trading at 19 times. >> proctor is kind of a lot of polls. >> i think gillette is under which is what i use. the blades are very sharp. >> i have been using it for years. >> i cut myself the first time, holly cow, not like it is relevant at all. proctor, they have a 3.39 yeel, that does not matter if treasury goes to 3. >> it is over valued >> are you kidding me? >> david, what do you think? don't answer that. >> that's not what comes to mind >> never, ever idiots, you are not two words that are near each eaother. >> when we return of pepsico posting a better result. we'll ta

it the ninth largest equity long holding in his fund bill ackman bet big on nike and added to his mondelez position let's get more insight into the health of hedge funds from ceo and president barry pisano, chairman of hedge funds for the firm and has new data on how global hedge funds are setting themselves up this year. >> nice to see you >> are we looking for a better year from hedge funds this year? >> i think we are from a capital flow perspective expectations on returns are a little lower so the survey we did with 460 investors, $2 trillion in aum, so two thirds of the industry reflected a real switch yesterday. $70 billion outflow in '16 $10 billion inflow this year they're predicting an additional $40 billion in inflows in 2018 performance wise, about 8, depending on which metric you use, low 8% return, 5% volatility, which hit a lot of the metrics they were looking for in terms of composition of portfolio. >> i would imagine just given the environment we're in, long/short strategies must be coming back in favor it was obviously so heart to be short the market the last few years. >