savita is back with us. savita and aack to second. where you need to look at is where economists are predicting. banks around the world, economists predict a big slump in the first half of the year and the second quarter look quite ugly. banks have different estimates. on, we have a lot going huge variation in estimates, all of this coming up to the united states jobless claims number. i am seeing 3 million statistics, maybe not in one week, but the idea of jumping tom 100,000, 200,000, 700,000, and exploding to 3 million would be extraordinary. we are not -- we are going to fold this economics into the markets. you can see the chairman powell action yesterday. we will do that with frances donald. from london and new york, this is bloomberg. ♪ ♪ this is bloomberg "surveillance," tom and francine from new york and london. we are back with savita subramanian. we have a viewer questions, especially those working from home, you can send us questions that we will ask our guests. if you look at the recent selloff, isn't this selloff above a

bill ackman making a huge splash and weay going long, have savita subramanian with us perfectly timed. have now a lock up we -- not the lockup, the halts on the spx with futures up big. francine: it is a similar situation in europe. european equities are gaining some 5%. unclear exactly what they are looking at. there was a huge selloff last year -- last week. maybe they are looking at wuhan

savita: it's a great question. seen this dislocation with spreads and rates in the market on a daily basis. i do think that now is maybe not the time to add exposure to the think0, but i definitely now is not the time to sell the market. one thing we would caution investors on is the best days for the s&p typically follow the worst days. market timing is really hard. i just wanted to share with you a statistic. if you missed the 10 best days every decade going back to the 1930's, your returns would have of almostnstead 15,000%. alix: whoa. savita: this is a huge difference, so trying to time the market after big downdraft is a recipe for underperforming. alix: is the goal now to not lose any more, or is the goal to get alpha? savita: i think the goal is both. that's a great point. loss aversion is clearly the name of the game, but i think the other goal is to not sell and lock in losses, if that makes sense. if you look at the length of time that it takes to recover a bear market, it is about a year on average. so

. >> bob pisani, thank you savita, i'll give you the final word advice to investors, what is this goingo look like and how long is it going to last >> yeah. i think the name of the game right now is pick stocks look for companies with fortress dividends. right now and the foreseeable future is safe income. the feds have slashed rates to zero we're in an environment that's like a yield-starved world the idea of picking up safe dividend yielding companies at bargain prices makes a lot of sense to me. >> savita, don't you have to be caref careful, though? in some places how safe are those dividends? look at oil, look at financials. are you sure they're safe? >> here is how you pick it low payout ratio, stable earnings and companies that have very low leverage ratios, companies that have limited risk in terms of cutting their dividends, wiggle room in case their earnings go down and don't have a lot of consistent demands on their capital that's going to take away from their dividend in case of a credit shock. >> savita subramanian, thank you for joining us, nancy trengler, to you as well >>

it looks flashy but is it somehow a bit behind the times electro mobility in sports cars of coal savitaa nervous question of red. seems to come t w. that people will hold on for t.w. on facebook and twitter up to date and in touch follow us. there on a mission. to save the. marvel comics started in 1939 and since then they've created a vast empire of superheroes are also have human weaknesses. creators have had their share of clashes the moving story of a comic giant marvel stores march 10th. i think we are pretty much aware that word in the media is not going very well and it maniacs.

they looked at it was humor and didn't really focus on it so my whole of my best moments were in the savita union i do not. remember the deficit well i do remember it but it was a very long time ago there will be no panic with the coronavirus we should remember a time when there was no toilet paper it's cool so we know how to live without toilet paper for a country constantly fighting an uphill economic battle with the west people dealt with adversity quite well in soviet times perhaps they knew that a panicked reaction to crisis could be worse than the crisis itself. go to their wall amid the shopping panic a stray is largest chain a thief market has set aside a special hour for elderly and disabled shoppers so they can buy basic goods like toilet paper the item which has triggered violence among customers marilyn's in turn though has seen a heightened demand for marijuana as people queue up their outside coffee shops ahead of quarantine measures and american shoppers meanwhile have lined up near gun stores with sales of weapons and ammunition skyrocketing. the world health organization sa

bill ackman making a huge splash and weay going long, have savita subramanian with us perfectly timedk up we -- not the lockup, the halts on the spx with futures up big. francine: it is a similar situation in europe. european equities are gaining some 5%. unclear exactly what they are looking at. there was a huge selloff last year -- last week. maybe they are looking at wuhan getting back on its feet. i wanted to bring you other things, vix not as elevated as yesterday. sell more thanpe forecast in march. the economy is taking a battering not seen in decades because of the severe restrictions on business and households desperately trying to contain a pandemic that killed more than 17,000 people worldwide. you see demand plugging at a record pace, confidence dropping. we need to find a way of fixing both as much as possible, the economy and saving lives. tom: important that we are seeing this morning and linking it back to the medicine, great log mythic charts of all the national and urban trends. we have not spent enough time on spain. it is really grim statistics in spain, particular

don't have read where it will bottom, major issue for equities financials are great i agree with savita. if you look at financials etf, not a perfect proxy because some insurance and berkshire in there, but it tracks the sector. and if you think about it, it's at december 24, 2018, low, gone down it 30% in 15 days and back to where it was after the election in 2016 when banks had the target taken off their bank. that's part of the reason you want financials with this administration >>> continuing coverage, selloff, where we've been, where we may be going. special report "markets in turmoil," 7:00 p.m. eastern time tonight. >>> more fallout from the coronavirus. l.a., what is being canceled now. >> late night shows are canceling live, in-studio audiences. going to start this weekend or monday depending when they air just got the announcements at the same time in conjunction on guidance from new york city officials. press releases from "tonight show," stephen colbert, and "last week tonight with john oliver" saying no reason for concern in studios or reports of covid-19 among the staff bu