and people only worry about their short-term economic self interest. when i tell somebody i teach business ethics people have to manage not to laugh or make jokes theoretical subject and if you have a new and put them in the chat ever since the global financial crisis, we have seen an increase thought about business or capitalism would be different. i'm kind of a modern-day adam smith he did write a lot about ethics that most people don't read. i see an increase the call for reform the first proms are called the 70% problem that comes from these studies that look at and engage some people are engaged with her work produced 70% number was found on the uss higher in many places of the world. it's lower in a few places like singapore and others. it says 70% of people are unengaged, and i love this, or actively unengaged in their job jobs. now if you are unengaged, you just don't care. if you are actively unengaged, i guess you would show up every day and kind of take the place down. so that is a real problem i think. i real practical problem. maybe they a

shareholder value can only be measured in the short term. we live life in the short term. we have to figure out how to do this, do it now to keep it up. that's certainly more of a rant then you needed, i apologize. >> tank so much. i'm going to ask the last question and it's a question about ethical standards globally, but they're different around the world. what would you recommend someone who wanted to great a startup in a a different country, for example, in china? how would you know when to make the business deal of when to stand your ethical ground. >> well i would make a difference between the business deal and ethical ground. i would try and see what it is -- people said when in rome do as the romans do, or when in rome do as we do in charlottesville. the first one doesn't respect when in rome do we do in charlottesville doesn't respect the roads. but when in rome do as the romans doesn't respect ourselves. the way i've always thought that goes is when in rome do as we as the romans can agree upon. you have to have a conversation about how we going to do business he

here's the short term where it doesn't make sense. the minute we move the short-term, we mov moved the log term. it never seems to catch up. if it makes sense, there comes a point ithe point it better makee in the short term, do that now. i've become an increasing skeptic of the short-term and long-term distinctions. you know, the financiers said to us we didn't mean shareholder value in the near term, we meand long-term shareholder value. i'm not much of a positive to believe in this stuff, but a lot of them are and the shareholder value can only be measured in the short-term. wshort term.we live life in the. we have to figure out how to do this and do it now to keep it up. that's more of a rand than you needed. i apologize. >> i'm going to ask the last question, and of course it is about ethical standards globally. and that they are different around the world. what would you recommend to someone who wants to create a start up in a different country, for example in china. how would you know when to make the business ceo or when to st

shareholder value can only be measured short-term. we live life in the short term. we have to figure out how to do this, do it now. always thought that we can agree upon that. you have to have a conversation about how are we going to do business here? a lot of people jumping without knowing very much. in my experience, pretty much all of the world, i've asked people from all over the world, he right on the three values, or if you don't have children, lie down the top three values he was other people to teach their children. there's remarkable similarities all over the world for that. respect, love, compassion, responsibility working hard and it can be different around the world. what it means to show someone respect is different than what it means in another city. there are cultural differences but i think moral differences are relatively smaller but i would say you have to really understand the culture and cultures, there's always more than one, that you are dealing with and try and come to terms for the you could live in a culture or not. including, through your c

we don't mean short-term and the long-term and a lot of them are. and can only be measured in the short term. and then to keep it up. has one oriented then you needed and i apologize. >> thinking so much. the next question is about and what would you recommend so how where do you know and how to stand you ethical ground? >> iould it make a distinctio distinction. i would try to see and do as the romans do in charlottesville and then to respect for the romans to don't respect ourselves. so what we and the romans can agree upon. and how we do business here but people jump in without knowing very much. in my experience and write down the top three values you want to teach her children or if not you wish other people teach their children there is a remarkable similarity over the world for that it is respect and love and compassion and responsibility and working hard. what it means to show someone respect is in jakarta and to show respect in new york city for those cultural differences but those are relatively smaller than we think about so you really ha

i can only be measured in the short term. we live life in the short term. we have to figure out how to do this, do it now to keep it up. that's certainly more than a rant than you needed. host: thank you so much. i'm going to ask the last question . to question about the standard globally and that they are different around the world. what would you recommend to somebody who wanted to create a start up in different country for example, and china. how would you know when to make the business feel for when to stand your ethical ground. reed: plug-in, i would not make a distinction between the business deal on the ethical grounds. i would try to see what it is, will people said when in rome, do as the romans do. for the first one doesn't respect when in rome do what we do in charlottesville. it doesn't respect the person. and then we don't respect ourselves. so the way that i've always something goes when brown, do what we can agree upon. and you have defined or have a conversation about how are we going to do business here. a lot of people japan and the jump i

the short answer is no. you don't see it priced into the upcoming dates we have for election confirmation. you don't see it in hedging demand. the options market also believes we are going to look through this into next year. lisa: and while on the technical front, there was a note out over the weekend from your colleague of jp morgan predicting that there will be in hundred $60 billion of selling of equities as the number of pensions and big investors rotate into that 60/40 portfolio. do you think that is a possible tension heading into year end? amy: it is interesting you bring that up. tension rebalancing is a sort of irregular occurrence. while that is something that is happening, one thing that we are also tracking is what is .appening in the position data this group of investors, real money, as well as pensions at the start of the pandemic was and wely under invested, have seen this come into this market, and what are they doing? they are actually buying value and selling tech. the other part of this i

but we live life in the short term. we have to figure out how to do this and do it now to catch up. that's certainly more of a rant then you needed . >> thank you so much ed and i'm going to ask the last question and it's a question about circumstances globally that they're different around the world. what would you recommend someone who wanted to create a startup in a different country, for example in china . how would you know when to make the business deal or when to stand your ethical grounds. >> again, i wouldn't make a distinction between abusiness deal and ethical grounds . i would try and see what is. people said when in rule rome do as the romans do or when in rome do as we do in thomasville but the first doesn't respect the romans but to do as in rome doesn't respect ourselves so the way i've always thought is that in rome do as the romans can agree upon and you have to have a conversation about are we going to do business here? a lot of people jump in and they jump in without knowing very much and in my exper

flying robot who looks like the result of a bizarre close encounter between the mechanical heroes of shortircuit and wall—e. will buddy save the day or will he too be stolen away? i always work. just needed someone to believe. appropriately for the time of year, jingle jangle is a cheesily pre—packaged and alarmingly overstuffed affair. at times, it reminds you of all those bits from chitty chitty bang bang that you always forget are in chitty chitty bang bang. you know, like the bit when caractacus potts invents a haircutting machine and then winds up dancing the old bamboo for reasons that no one can quite understand. whitaker, who starred in an kasi lemmons‘ black nativity back in 2013, gets into the festive spirit with heavy doses of mournful pathos, while madalen mills provides a charming lead asjourney. elsewhere, hugh bonneville cameos as the man holding the purse strings while ricky martin stops living la vida loca just long enough to breathe vocal life into jangle‘s pint—sized creation, don juan diego. i encourage you to not be an imbecile! narratively, it's a total mess. the movi

time is short. he gets into power in mid january and then at some point

, we live life in the short-term, we have to figure out how to do this, do it now to keep it up. that is certainly more of a rant than you needed. i apologize. >> thank you ed i'm going to ask the last question and it's a estion about ethical staard globally and their different around the world and wha would you recommend to someone who wanted to create a startup in a different country for example in china, how would you know when to mak the business feel or when to stand your ethical ground. >> again i would not make the distinction between the business deal and ethical ground. i would try to see what it is, people said when in rome do as the romans do or when in rome do as we do in charlottesville, the first out of respect when in rome do what we do in charlottesville does not respect a lot of rooms but doing rome when in rome doesn't respect ourselves. so we a the romans can agree upon and you have to find and have a conversation about how will we do business here, a lot of people jump in and they jump in without knowing very much, in my experience pretty much all over the wor

then we could roll that short position to a high if volatility remains high >> tony, what do you makef the trade? >> i like the trade. i think from all of the charts the one that shines for me is the ten-year the fact that it broke out above that 80 basis point level an continued to move higher on the charts carter showed you, he showed you the 150-day moving average. not only has it broken the 150, it has also broken the 200-day moving average you see the financials that have been in place about two months or so really start to accelerate as yields start to rise. i like this trade from a fundamental perspective and i specifically like the choice of using kre versus xlf as mike pointed out, because of the fact that you don't have some outside exposure to some single names. you don't have berkshire hathaway you don't have american express, some of the names that are not as interest rate sensitive you have a collection of regional banks i really like that the call calendar here, as mike said, is more of, as mike said for the kre is more of a value play and the calendar is suitable for t

in 2016 you might remember that hillary clinton was short of that mark by 38 so clinton was short ofbiden needs to do. where he might pick up those votes ? to do. where he might pick up those votes? i put on the board here the states we consider battleground states. what i am going to do isi battleground states. what i am going to do is i will bring up 2016 because i want to show you the various routes thatjoe biden has two the white house, as opposed to donald trump. here is a 232. i take my pen and colour in some states that a polling well forjoe biden. wisconsin, michigan and then flip arizona, perhaps, which has looked competitive forjoe biden and you will see that he is nowjust short by one. maybe he takes iowa which is close at the moment. another way, return these to read and we will leave wisconsin and michigan there but maybe we turn georgia. turn georgia blue. and that takes him over the magic 270. maybe he doesn't win georgia. maybe he takes north carolina, the changing face of america, more urban, more college voters. again, 273. you get a feel for it. there are different

of the short to see short of each day. and then we share some with there are tactics that can be used to get innocent people to confess, to crimes. they didn't commit. i don't even think people in the us really get that the police are allowed to lie to. the person who falsely confessed, actually came to believe the lie that they were told about their own behavior. once a false confession is taken, the case is closed and nobody really can tell the difference between a good confession. and one that is a new gold rush is underway. in guyana, thousands of ill equipped workers are flocking to the gold fields, hoping to strike it. rich is a good day over the those that work. children are torn between gold and education. my family was very poor, i thought i was doing my best to get back to school, which side will have the strongest appeal? join me every thursday on the alex salmond show and i'll be speaking to guest of the world, the politics, sports business. i'm show business, i'll see you then they know obviously when we had w

from korea to the uk with london—based dutch director rene van pannevis, whose short film jacked won was apparently autobiographically inspired, has now provided the basis for a feature, looted, shot on a micro budget over 17 days in hartlepool. charley palmer rothwell is rob, the young car thief who tells his dying father that he's job—hunting when in fact, he's out stealing wheels. thomas turgoos is leo, the friend who encourages rob to get involved in a job that lands him in dangerously hot water. the title and premise may make looted sound like a geezery romp, but the film itself is anything but that. it's more a study of somebody being pulled apart by the demands of their life, torn between commitments to family, friends and financial reward. the cast, which includes morgane polanski, are uniformly adroit, with particular plaudits to thomas turgoos, who's gone from strength to strength since his remarkable debut in this is england all those years ago. you can find looted on all major vod platforms and in a few cinemas. look out too for virtual screenings, in which cinemas and di

they would do to play in north macedonia in the playoffs this month, but the fa pulled them out a shortavel restrictions. the governing body were then fined by ua five. the fa had took all of our funding for preparation, but was to want to represent our country and every other nation in europe went ahead and played and now we have the england football team playing games and in countries that are suffering from covid—i9. and in countries that are suffering from covid-19. this is obviously difficult but an indoor game, which is less safe during a pandemic in the football associations got its own issues to deal with funding wise and namely trying to keep its clubs afloat, we'll just said and namely trying to keep its clubs afloat, we'lljust said to them? being an indoor sport there is a slight risk but there have been very few infections and obviously, the benefits of kids participating in the sport and the thing is, they've not said that these are temporary cuts, is a permanent cuts so there's hardly anything left to fund the game. a safe bed and pulling out the followed government guidel

the last book of our short list of titles.e mum is almost upon us but before we hear who has won this year's booker prize forfiction i who has won this year's booker prize for fiction i want to come who has won this year's booker prize forfiction i want to come back who has won this year's booker prize for fiction i want to come back to berna rdine for fiction i want to come back to bernardine evaristo. we are about to hear who the winner is, how do you think their lives will change? their career will change, probably beyond their wildest imaginings. it will certainly be in demand, i think they should ride the wave of attention for a while and they will find readers for their books, for the precious works of art. people will be reading in huge numbers. then at some point they need to come back down to earth and get back to writing. to enjoy the moment i would recommend. look at the face of all six strips listed authors of the moment, thank you very much and the time has now come to announce the winner of the 2020 booker prize

and europe whether the bounce back was short lived. we're out of time on "closing bell." "fast money" starts now. >> i'm melissa lee and this is "fast money. trader line-up tonight we trading the vote, three big market scenarios could play out based on tomorrow's result plus morgan stanley rolling the dice often biden, why he could hit the jackpot if he hit the white house. and dan's fast pitch, he says if you play this social media stock just right could be a home run we stock with the rally on the eve of the vote tomorrow every seconder finishing in the green. the rally after the market hand in the worst week since march. so what does today's market action tell us about tomorrow's big vote guy, what do you say >> hi, mel you like my election haircut. >> i see. >> really took it down. >> really tight, nice. >> high and tight. interesting. what's it tell you today, i think a lot of people squaring up ahead of the election the vix suggests there's still a lot of concern the six vix at one point traded up to 37.5 obviously elevated last week saw huge move from 24 to 40. it

carter >> short, retail, xrt, baba. >> tony zhang?e the way we work out, selling a december put vertical spread. >> mike coe. >> long xrt put spreads, along the diagonals in baba. >> that does it for us we're off next friday after thanksgiving see you the following money" st. >> my mission is to make you money. i'm here to level the playing field for all investors. there is always something somewhere. i promise to help you find it. "mad money" starts now ha hey welcome to the show. i'm trying to make you money my job is to educate and teach you. call me 1-800-743-cnbc the markets in the grips of two issues it's the virus

the short answer to your question is in the short-term, it is very difficult -- is very different --mally you have a lot of certainty about the short-term and not much about the long term. here we have a much better idea of what things will look like in 2021 then we have the next two months. jonathan: i underestimated the resilience of the u.s. economy and how quickly it would bounce back and many other people did as well. are we repeating that as we work away through winter? torsten: it is the case the u.s. economy is more resilient than any other economy. we have more competition across all markets than any other country in the world. in that sense the dynamism of the u.s. economy is not being impacted dramatically at the moment. that being said, the cyclical movements around that structural issue continue to be riskier in the short-term and that is why high-frequency indicators of mobility has to go down. we have some rollovers. even new york city data has started to show more weakness in the last few weeks. we are little bit worried about where the high-frequency data is taking u

you can opt out of those, it is beneficial in the short-term. do we believe in that set of that construct or not? we are getting what you would expect. the surprising thing, it is terrible, what exactly did you expect? what did you expect to that? it is not a lot of logic at work in it. think something is a good idea, it is a different stream. >> host: thinking something is a good idea and taking it to its extreme, a question about amazon in the q and a, amazon is on its way to becoming a useful monopoly. what is the problem, what is the solution? >> guest: i think of amazon as they stopped and took stock and asked the question is what we are doing sustainable or not? could be a useful monopoly for a long time. if instead they say get people to work at this price, we will do it and they have a 2-tiered workforce where a lucky programmer makes zillions and the rank and file live hand to mouth below living wage, they will slowly but surely create the seeds of their own destruction. they've got choice, and i don't know how they will make it but i w

'd it commences that there is a very short credit if you will be completed within a very short but it of time because this group that you can tackle these 3 really must occur to civilians in ethiopia, gross violation of rights. and then they instigated conflict., it is your p.r. therefore it is the operation is tied to getting this going to send define a little commission men so it will be completed within a very short period of time. and by complete, do you know what want do you mean? do you mean you will have bombed them into saranda? yeah, if you means that this good looks, i'm going to be made done. did want to roll and they face court talk lol. so it's as if this must have a mind or this student that good hope just is or in for that mit done to point out the open issue in with int and it is not the civil war, but that's tom cole could get that. the conflict going on in ethiopia is kind of soon war, but it's not a civil war about peace about ensuring the long, low time getting them ready. very funeral wise ethiopian government, unwilling to accept external mediation. well, they've

interest and those traders covering those short bets to take some profits. now, watch that particular move. i bet a year-to-date chart there because it just shows you how far these things have fallen check out these two other charts as well. we're looking at other parts that have been beaten up, have very big bets against them one in retail. 5% decline for ralph lauren today. this move higher here, ralph lauren is one of those highly shorted stocks in retail in the s&p 500. we'll end on one more that rounds out this notion of the consumer economy being at the heart of all this. sl green realty, look at the decline over the last year-to-date period. 40% of its shares lower here now. in this move over the last couple of days, a sharp move higher, it goes to show you, kelly, tyler, some of the most highly bet against names are the ones rallying. the question is, will it last? that's a big one for investors back over to you guys. >>> jpmorgan and goldman sachs bullish on the market heading into 2021. raising the year in 2021 s&p price targets to 4,500 and 4,300

caroline: when it comes to markets, long-term optimism is winning out over short-term fear.he seven day average in new covid cases, the u.s. is claiming in every state. california governor kevin newsom says he is pulling the emergency brake. the dow at a record high, closing just shy of 30,000. s&p 500 index at a record high. rotation caps, we have into value and cyclical sectors. right here, right now, companies are facing the covid reality. luckily, the race is on free vaccine. joe: last monday it was pfizer. this monday, moderna expected. in itsefficacy preliminary analysis. they are also touting the ease of the logistics. refrigerated temperature for 30 days. vaccine has to be very cold. shares rising more than 9% today. the good news is that light at the end of the tunnel continues to pile up. it means we have certain stocks on a complete tear. carnival cruise. the reopening trade is back on. airlines, boeing outperforming. pfizer on the downside. trade,y-at-home something that has done so well i made lockdown environment. the question is at what point we see technology

short from in fabric director peter strickland. is nimic, an intriguing oddity from greek director yorgos lanthimos, who made the favourite. tell her to get out. tell him to get out. this is our home. you're my other half. a popular hit at a range of international film festivals last year, nimic stars matt dillon as a cellist who finds himself being pursued by a doppelganger who copies his every move. there are thematic echoes of dostoyevsky‘s the double, the 19th century novel that previously inspired an underrated feature by richard ayoade. while tonally, nimic harks back to the surreal nightmarish satire of early lanthimos films like dogtooth. it's a strange little movie that will leave you with a head full of questions that can only be answered by going straight back and watching it again, something that's easy to do with a short film. but while nimic deserves to be seen twice, there are some other releases out this week that will benefit from never being seen at all, ever, by anybody. tonight is a very violent show! take the r

very volatile in the short run. we are looking through the short run uncertainty to a little bit longer run perspective, where we can look through that uncertainty to what we are seeing underlying the economy, and what may emerge in the post-covid environment of a vaccine. that is a little bit too far in front of us to plan for today but it also temperatures some of the overreactions and near-term headlines that are clearly on thevirus side, eroding to negative. that is partly what most investors are seeing, why you are seeing a lot less negative market reaction, given the balancing act that you were highlighting, between the short-term negative news on the virus and a long-term positive on the vaccine. jonathan: what have you made of the resilience of treasuries in the face of vaccine development? on the equity side of things, we see an outperformance and cyclicals, small caps, but the treasury curve is exactly where it was 10 weeks ago. we are really dealing with very heightened expectations for monetary policy in

short run but it does matter in long run. we're at record price to sales we're at record price to gdi based on history stocks are lower one, three, fire, even nine years out from the valuation levels that we're at right now. i know interest rates have changed, and that does make valuations more attractive relatively, but it doesn't mean that everything can't go down and that you can have bond yields rise and stocks go down in which case you lose money in both asset classes i know that's not a particularly cheery outlook, but given where we are in terms of valuation, i think it has to be said. you know what i find so interesting right now is almost every scenario that people are talking about is an optimistic scenario we'll get a big stimulus package which i've been hearing now for five months. an awful lot, interest rates, which despite the move we had higher on election night has pulled back. >> my view is for all the optimism and concern about getting overoptimistic, it was just ten days ago the market was incredibly negati

what we are talking about here is the difference between a short-term focus and longer-term focus. >> it is a big piece of the puzzle if you break time into chunks and optimize each it will not optimize you for a big number of the time period. it's the same form of reduction for what seems fine in this short-term will end up when you add up a bunch it's horrendous and the longer term so that's a piece of the puzzle i would consider in this idea that we understand well enough to break it into little chunks and when we add them up they will be fine. i do not believe that it will be fine when you add them up. >> we have a lot of questions i'm going to go to them in just a minute, but as an educator, how do you train the new generations of business people to get their heads around this? what do you have to undo, what do you have to do and tied into that how do you get the super structure in place, the metrics that you need in order to be successful at managing in the way that you suggest? >> that is a real challenge. i would say to the first question what we need to do to teach business s

we are falling short of that. host: how many aircraft carriers do we have right now? guest: congress wants us to have between 12 or 13. i think there is a mandated minimum of 11 and we have nine out and about. most of those are in shipyards under standard maintenance. we have deployed any one time two or three. there is a lot made about the united states having 11 carriers and any other country might have one or two. what doesn't come across in that argument is that, through your navy, you only have a small percentage that is available for deployment. let's say we had 300 ships. 100 of those would be available on any given day. of that 100 you might have 60 that are in the western pacific. they are going up against the totality of the chinese navy of 350 ships. a sixe starting off with to one disadvantage. russia, iran and the persian gulf, north korea with missile boats, china and the south china sea, all their military power is applied and focused on their very near waters where is the united states has to sail across 8000 miles of ocean. it takes three weeks to get

carter >> short, retail, xrt, baba. >> tony zhang?ize the way we work out, selling a december put vertical spread. >> mike khouw. >> long xrt put spreads, along the diagonals in baba. >> that does it for us we're off next friday after thanksgiving see you the following week "mad money" starts right now - [narrator] the following program is a paid presentation for the oxypure air purifier, brought to you by nuwave, llc. asthma and allergies are at an all time high, and it seems to get worse every year. it's not your imagination. allergy season continues to get longer and more intense as temperatures rise and airborne viruses are becoming an epidemic problem worldwide. with the changing environment and unseen dangerous air pollution surrounding all of us, you need clean air more than ever. if you suffer from mold, dust, pet dander, smoke, odors or sleeping problems, discover the nuwave oxypure air purifier,

we will take a short break.omberg. ♪ >> this is clearly what we are facing at the moment, which makes our job incredibly challenging. let's look at the economic outlook. monetary policy and uncertainty in that context. vaccinest news on the looks very encouraging. the recent surge in coronavirus cases and the associated positioning of containment measures are adding to the already heightened level of uncertainty and presents a serious challenge to the euro area and global economy at large. partialg a strong but uneven rebound in real gdp growth in the third quarter, latest surveys and high-frequency indicators, the euro area economic activity lost momentum going into the fourth quarter. the resurgence in covid-19 infections is weighing on the service sector activity. reasons we cannot think of, but it is especially vulnerable to the mandatory social distancing measures that were introduced. the purchasing managers index, the pmi for the euro area shows while manufacturing output continued to improve, service sec

the republicans fell short of the votes needed. the senate can reconsider her nomination, but time is running out. the u.k. is announcing a 12 billion pound plan to tackle climate change. in a blueprint, boris johnson says the move will create support for as many as 250 thousand jobs. sales of new petrol and diesel 2030,ill be banned from earlier than anticipated, and the government will invest in electric vehicles and renewable energy. three former lawmakers in hong kong have been arrested over a scuffle in the legislative council chamber earlier this year. they have been detained for allegedly trying to disrupt a vote banning criticism of the chinese national anthem. the arrests are the latest blow to hong kong's democracy movement after the passage of a sweeping security law in june. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. now, we will get to our conversation with my colleague, mark cudmore. u.s. and european futures edge and l

be able to orient themselves quickly and have only a short commute to the city. and fast because car. table became the prototype of the short distance airport optimizing the space between arrival and departure gates it was popular with berliners and tourists the airport was the point of arrival for prominent guests it was the stage where emotional moments took place like the return of the german soccer world champions in 2014 but the airport became out of touch with modern needs it was old fashioned and too small for a booming capital city after german reunification it was necessary to build a new airport and close down tanker. if this is an up shoot now it's time to say good bye. not without a touch of melancholy and also because this building documents a time our job was all about serving people's needs a time when customer was kings would mean that. on their final walk through take all the architects had to get used to the empty walkways due to the corona virus pandemic there has been little air traffic turning the airports last months but the 2 men get consol

so, numbers suffice to supply a professor livermore, we have to take a short break for the time being, but we will be back in just a few moments. well, look forward to talking to you all that technology should work for people. i robot must obey the orders given by human beings, except where such orders to conflict with the 1st law. show your identification, we should be very careful about artificial intelligence. the point is to create evidence here. tonight on various chopping with artificial intelligence will, summoning the demon, must protect its own existence and exist only by social class. people also in poverty by 1st. if you're born to a poor family, if you're born into a minority family, if you're born into a family that only has a single parent that really constrains your life, chances people die on average 15 years younger than you born into generational poverty. it's a tough fight every day, so you meet your needs and the needs of your family. welcome back to worlds apart. it's with dr. david livermore, professor in medical microbiology at the university of east anglia. pro

they wonder why are we getting shady financial practices taking short-term, not taking any short-term investment, cutting our r&d, kiting -- why is our ceo doing that? wake up. you asked them to do it. stock compensation is a bad idea. i've written an entire book about it. it is a fundamentally bad idea. >> while your topic is a particularly good one for the covid era, when we sing importance of resiliency and the limits of efficiency, the book was put to bed before covid ever hit. you are precedent. >> i actually think i was precedent but i also start the work in 2013. in 2013 the socialism did not pull at all well. bernie sanders was not a national political figure yet, andow both are. >> what does that tell you? what does the fact that socialism holds well with young people and bernie sent as a powerful force in the democratic party? what's the signal you are getting from tho? >> the signal is democratic capitalism is not considered the absolute de facto standd. it's now considered a choice. before that it was what we did. >> and that is because it is fail to deliver? >> it is fail

be able to orient themselves quickly and have only a short commute to the city but unfortunately. table became the prototype of the short distance airport after my eyes in the space between arrival and departure gates it was popular with berliners and tourists the airport was the point of arrival for prominent guests it was the stage where emotional moments took place like the return of the german soccer world champions in 2014 but the airport became out of touch with modern needs it was old fashioned and too small for a booming capital city after german reunification it was necessary to build a new airport and close down tanker. yes this is up shoot now it's time to say goodbye really was not without a touch of melancholy. because this building documents a time on our job was all about serving people's needs a time when customer was king. on their final walkthrough table the architects had to get used to the empty walkways due to the coronavirus pandemic there has been little air traffic during the airport's last months but the 2 men get consolation from one decision that termina

i think we have to do much more about balancing the short and the long. as you say, the effort has been what you call saving lives. i would say preventing short deaths because very many of those deaths, 50 percent in the u.k., have been in cat hold. its now when you go into a cat home in the u.k., your life expectancy the afraid is 27 months. and if you look at the median, 50 percent of the people going into a cat hole will be dead within 16 months. so a lot of effort has been protecting those folks who suddenly the end of their lives . and i'm sorry, it's hard to say these days, but all it does, you and me to ultimately old the dogs, the death. as you go out into the community, people fighting to go to hospitals. developing countesses hot hot to touch in the community not sought help when they should have done this. death's scott said he and into the future in i feel a very large numbers who have the collateral damage. the h.e. say, business school, and university of milan today. how to study out which suggested and i was out for mathematics, but i think

this is more shorts getting washed out then repositioning.le trying to further pain versus putting a new position on and i think today's market action is really more evidence of that because we get bond traders really taking a pause and reassessing what they are doing. we have not seen yields move too much over the past few days but that does not mean there's not a lot of calls out there for further declines in bond yields. goldman sachs sees a divided government going forward and says 10 year yields may hit 75 basis points by the end of the year. annmarie: 81 basis points. we have been talking about the fact that the next two months, we could see a lot of potential volatility. could be a roller poster. i'm looking at the fact that we still have a runoff election in january and that decides who will run the senate. what does all this mean for volatility markets? dani: that january 5 runoff in georgia that will determine two senate seat, this is an important market event regardless of what other markets might saying area this is the vix curve.

the short-term, we are in a messy transition of power. we've got brexit uncertainty.e've got rising case numbers in covid. week certainlyis than we did last week. we know there is a successful vaccine for this pandemic, and we also got significant clues as to how the market reacts to that news. there is a flurry back into value stocks. a significant optimism, albeit beginning to fade right now, but if you cast your mind past this difficult vaccine and we see the being distributed successfully, then i think, and we see the transition of power in the u.s., i think we are going to see biden is certainly going to be spending money. we think there's going to be fiscal stimulus. we think that in the longer term, there is going to be a weaker dollar. that is going to be good for emerging markets. beenf the time, that has the case. if you look past the short term, you can still have a risk on environment, central-bank support, ample liquidity, and a search for yield in a world of low numbers. given that context, there has never really been a better time to be an investment ma

livermore, we have to take a short break for the time being, but we will be back in just a few moments. the world is driven by the day are things we dare to ask to be able to see, feel welcome. you should all just normal got hold of never will, you know welsh up in the open or just when you're welcome to be it was a march going on still perceives on the give up on the board was to be with the one that yeah, you publish a novel you can use new york city, but i'm used to lead you to surround us. yes. but i wanted something to do that because these are a horde envelop. i don't know a good few of the local police, which is based on marco butros. put you own where one would you would please. you see just picked up a good bit. you push it down a little easy of lucas, which you appear to do with my poor father up here for our fellows. welcome back to worlds apart. it's with dr. david livermore, professor in medical microbiology at the university of east anglia, and professor before the break, we were talking about the need for differentiated protection. and i would like to take an issue with

to the s&p 500 short-term futures, that's even worse. because you know, we haven't seen any volatility, down 42% but let's bring in our traders. tom hayes and phil flynn. tom, low volatility but should investors still have their guard up? because i'm looking at an inverse one. there's svxy and that's a short vix, right? you bet that it's not going to do well. to me, this is a very interesting play here. but you've got to be careful, right? >> yeah. well, the vix is still elevated above 20 so if you really want to look for top or where to get extremely defensive you want to look below 15. we still have a wall of worry that we can climb. as warren buffett likes to say in the short term, the market's a voting machine. in the long term it's a weighing machine. right now, we are having some turbulence because of the voting. the situation with covid case spik spikes, the shutdowns going on around the country. long term we can look at earnings growth next year will be well over 22% and that's probably underestimating the possibilities that we h

carter >> short, retail, xrt, baba. >> tony zhang?the way we workout, selling a december put vertical spread. >> mike khouw. >> long xrt put spreads, along the diagonals in baba. >> that does it for us we're off next friday after thanksgiving see you the following week "mad money" starts right now [announcer] the following is a paid commercial program for rotorazer, sponsored by razor tools llc. (upbeat music) - uh-oh. can't find the right saw for the job? you need a handsaw for this, a circular saw for that, a bandsaw, a miter saw, and a jigsaw? and with all the different blades, that job's turned into an expensive jigsaw puzzle. not anymore. (saw buzzing) hi everybody, i'm joe fowler, and this is the rotorazer. over 3000 screaming rpms of workshop muscle, to make any do-it-yourself project so fast and easy, you'll actually enjoy doing it yourself. can your saw do that?

of the shore to see short of some with join me every thursday on the alex salmond and i'll be speaking to us from the world of politics. i'm showbusiness, i'll see you then on election night you may know whether the margin for the winner is so large that it is impossible for the defeated candidate to catch up. so there may still be 10000 votes to count, but the margin is 80000 votes. it doesn't matter if all 10000 votes went for the defeated candidate, they cannot possibly catch up and that's where we are today. joe biden's margin is so large in all of the states that are being contested, that even though some other states have not finished counting, they still don't know who won. and joe biden won a majority of the electoral college votes. this is a story of women. women with troubled histories and complex cold cases. you know, some of us daily leave out there who were not the person that aired that cheesiness of the video considered the most dangerous of criminals. she's innocent. 23 hours of the day. tell me that it's not enough that it will give women on death row. they know this t

we'll bring you all the day after a short break. this is our country national join me every 1st week on the alex salmond show. and obviously to get a feel of the world of politics. i'm showbusiness. i'll see that welcome back. this is our t. international. now russia has accused germany of stalling the investigation into the alexina valmy case. the 2 countries have been locked in a stalemate for months with moscow demanding lab data. to back up berlin's claim. kremlin critic was poisoned with a nerve agent. now, russia's foreign ministry claims it is getting nothing but excuses from germany. the new berlin doesn't want to hand over materials from the wind in the case to russia. and it was clinging on to any excuse. you know how much i would like to reiterate, that we do not expect the bearer of bad news, namely us to be criticised. it would be better to deal with the news itself. we, have informed the c.w., an organization that the russian side can approach to ask for the question, as just a recap of what exactly happened. alexina v

we've got three vaccines in the market already this isn't short term. if you want to look at this going out over the next 12 to 24 months, i think you'll make money but the short-term pop is already in >> 320% off the low of the year. i think that was for darden, which was at the top there just astounding gains back for those stocks up next, the big etfs to watch today. before that take a look at the s&p sectors. energy is leading the way today. muted day for the s&p to start the week, shortened week at that, up about 8 1/2 'rbastodare is the wor tay wee ck right after this. new? -audrey's expecting... -twins! ♪ we'd be closer to the twins. change in plans. at fidelity, a change in plans is always part of the plan. sometimes, you want speedy but reliable. state-of-the-art but dependable. in other words, you want a hybrid. so do telcos. that's why they're going hybrid with ibm. a hybrid cloud approach with watson ai helps them roll out new innovations anywhere without losing speed. from telco to transportation, businesses are going with a smarter hybrid