we'll focus on the portfolio evolution performance, portfolio characteristics and exposures. just some quick highlights, a reminder the role of the equity portfolio is to provide long term growth capitol and liquidity. it's 10.8 zillion, this representative 33.1 of the total plan. 2023 was a great year, we had strong absolute and relative performance. we had two and a half percent access return on the portfolio. going forward we're going to work with merser to upgrade the portfolio in construction and provide more details on that later. as you mentioned the long term growth, we had a great year last year. the 5-10 year numbers are in line with the benchmark, 2023 was great but 2022 and 2021 were a bit challenging for us. we'll talk about that later. 30-year return, ba'ath our benchmark at 7.4 percent. the second role for particular equity is a source of he liquidity to fund other asset class sxz meet our pension publication. public equity has raised 6.8 billion in net cash over last 9 years. and reraised --we raised a billion dollars. i'll now discuss the portfolio evolution.

>> what would you do in a balanced portfolio today? could you get another 10 or 15% of the equity market this year? i don't think it is a stretch. >> 10 or 15% not much of a stretch at all and that is because of continued earnings power along with the other levers that we have seen it play? >> i think it is the buybacks and the fact that earnings are good. i think as you get to the back half of the year there is an incredible focus. too intensive about where the interest-rate is. my sense is that we are moving to a fed that is putting the bar high for interest rates and would like to get a cut in. when people see that you will get another push in terms of the equity market. i'm not saying jump all in, but i think you can build a balanced portfolio. i would hold equity for the next couple of years. >> do you think cuts matter at this point? >> so i have looked at companies for almost 40 years now. companies are not sensitive to the interest-rate move. most companies turned their debt out. companies are sitting on a huge amount of cash t

that is a valuable portfolio, as you have seen.e are excited about our business and we are definitely on that delivery path to be able to become a significant copper producer as we are gold. katie: eu brought up the takeover and i'm wondering, are there any anglo assets that you might be interested in, if that bhp takeover proceeds? >> bhp is the ultimate 5000 pound gorilla in the mining industry. is the determined company. right now we are focused on organic growth. katie: we appreciate your time. still ahead, people take a look at the company is making the most social buzz in our social climbers segment, next. this is bloomberg. ♪ ♪♪ sandals jamaica sale is now on! with rates from $199 per person per night. visit sandals.com or call 1-800-sandals how am i going to find a doctor when i'm hallucinating? what about zocdoc? so many options. yeah, and dr. xichun even takes your sketchy insurance. xi-chun, xi-chun, xi-chun! you've got more options than you know. book now. katie: time for social climbers. look at the stocks making waves

between the operating companies and portfolio, the portfolio is $370 billion they are managing in termsrtfolio, but then you have all of the operating companies and trying to stay on top of that. the view is there needs to be one person to go to acquisitions and one sitting on the dry proud powder in the keg and make an acquisition. is that money that goes to treasury bills or a safe place or if it is something that needs to go into stock allocation? he said he would evolve his thinking in it. that got people thinking about what it means. there will be one ceo and all decisions are filtered through that person. >> becky quick, thank you. i know you will have the highlights coming up. thanks for joining us. >>> coming up, the word that every vinvestor needs to know today, but the bidding w war enters a new phase an. >>> and how old schultz breaks his silence on the company he once ran three times a ceo. stay with us. and they're all coming? those who are still with us, yes. grandpa! what's this? your wings. light 'em up! gentlemen, it's a beautiful... ...day to fly. >>> welcome back. it'

the stocks our next guest says your portfolio can use to cash in.per prices are spiking to their own record levels, but big bets by short sellers are potentially setting up a metals metaldown. it is friday, may 17, you are watching "worldwide exchange." >>> welcome back. i'm dominic chu in for frank holland. let's pick up the big story of the morning which is the dow a whisker away from the 40,000 mark, althoughthe average did take out the milestone before closing lower in yesterday's session. in all it took the dow about 3 1/2 years to go from the 30,000 mark to the 40,000 mark. as you can see there in the time line. and in that frame, four dow components have doubled in value. that includes the likes of american express and goldman sachs, 103% gains and 107% gains there. and also caterpillar and michael. microsoft. and so four doubling in value in that span. let's see where we stand with futures. dow implied slightly lower. down about 8 points. relatively unchanged. s&p down about one and nasdaq by nine. the dow not the only in-ddex hitting fresh

so that's a reasonable takedown of overall exposure in one's port portfolio. that's from somebody who focuses primarily in tech and growth we all know the names he has in his book, the biggest tech names out of the mega caps >> i think when we started the year, scott, and you talked about the potential for this rotation from growth to value, underpinning that expectation or perhaps forecast was the fact that valuations and technology could have vulnerability, and what we saw over the last several weeks is that particularly big tech names did well the earnings were better than expected in many cases results were good. we saw major buybacks. the challenge here, scott, in order for people to feel as if they're looking to start to move out of the technology names, number one, there has to be a rationale for it, and i think when you look outside of big cap tech, perhaps there is more vulnerability in terms of delivering those results and, number two, there has to be somewhere for the capital to go. i think what you're seeing, if there is evidence we're going to con

for example, if you had half your portfolio in megacaps and half your portfolio in small caps you wouldave not done very well because half of that portfolio has not performed at all in the last two years, the small caps. you just would have increased your volatility and risk a lot because of that exposure to the weaker parts of the market. we prefer, you know if that was the option, prefer kind of moving towards the middle. instead balanced at the ex-extremes, be more in the center to avoid a lot of that volatility and don't sacrifice your portfolio to really low quality areas of the economy and the market. charles: right. real quick, folks. he is talking value on one side, growth on the other, go with the middle. middle has actually been doing pretty well here. >> yeah. charles: let me ask you, in one of your reports you talk about utilities. you say it can be the iron man sector. i love the information you gave on iron man football. i never knew that. golly that was the day when men were men. you let out five reasons utilities can be the iron man sector. i think middle one is a.i. pla

" asks, is apple becoming one of the riskiest investments in that portfolio.t to have you with us. why so risky? just because of concentration? >> it's an expensive stock, we know about the growth issues, and yeah, they have over 40% of their portfolio in one stock, so one can have concerns. >> back in february berkshire hathaway trimmed, and that created speculation that they were fur sell shares. it doesn't seem like response portfolio management to have such a concentration. >> listen, farther be it from me to criticize warren buffett, but that's a big concentration. the crop-argument is what do you want to do? on a relative basis, maybe there's nothing more attractive, and frankly they've done so well in it, in some ways they're being penalized for do so well form it's hard to unhow this has been. it's the greatest investment in his career, and he did it in the middle of his career, but now it's a bit riskier. >> do you have any since, obviously they have very large holdings in things that are not in the public market, but, you know, mr. buffett, as you sa

in your portfolio, nvidia, microsoft, google among many others.present high double digits in a typical portfolio, what i tell them you already have it i don't think it is a bubble and what i don't think you ought to do is look farther afield from the leaders, here is why, when i view artificial intelligence as a super capital-intensive endeavor the company with the most free cash flow to throw at this and take a few years to realize a profit are already the biggest ones i mentioned. >> amazon is adding more and not everyone has $2.5 billion sitting around. >> the other point i would make into the benefit of u.s. investors that the ip market is close to the a.i. frenzy because usually the ipo market in my view sometimes incorporates speculative businesses that have a very long time to maturity and the very high upfront cost market, i think it would be hard for startups to get their foot in the door and become dominant. i think it's been to the benefit of investors that the ipo market has been closed in my partial worry over the coming months becaus

you should be doing your portfolio right now.e will be right back. ♪ i want to dance with somebody ♪ ♪ with somebody to love me ♪ ♪ i want to dance with somebody ♪ ♪ i want to feel the heat was somebody ♪ ♪ i want to dance with somebody ♪ ♪ with somebody to love me ♪ ♪ ♪ (grandpa vo) i'm the richest guy in the world. hi baby! (woman 1 vo) i have inherited the best traditions. (woman 2 vo) i have a great boss... it's me. (man 1 vo) i have people, people i can count on. (man 2 vo) i have time to give (grandma vo) and a million stories to share. (grandpa vo) if that's not rich, i don't know what is. (vo) the key to being rich is knowing what counts. did i read this? did i get eggs? where are my keys? memory and thinking issues keep piling up? it may be due to a buildup of amyloid plaques in the brain. visit morethannormalaging.com (ella) fashion moves fast. (jen) so we partner with verizon to take our operations to the next level. (marquis) with a custom private 5g network. (ella) we get more control of production, efficiencies, and

it helps the portfolio. >> part of it is they're catching up.you look at the car insurer, cpi breaks that out, you'll see they've been spending way more than they're taking in on paying out on claims because inflation for parts and labor has been superhigh and now it's just catching up and now investors are like, we can take advantage of this. >> is this the most fun insurance conversation you've had in a long time? >> it's certainly the longest. >> i just want to know. >> if it was bad, it would be shorter. thank you, contessa brewer. >>> up next, more mmtecoite moves. bill baruch. we'll give you the details next. are you interested in safeguarding your investments with gold? alamos gold is a growing canadian gold producer with a long track record of outperformance. alamos gold. invest with us. our growth sets us apart. at pgim, finding opportunity in fixed income today, helps secure tomorrow. our time-tested fixed income suite, backed by over 145 years of risk experience, helps investors meet their goals. pgim investments. shaping tomorrow tod

it wants to rebalance its portfolio away from its reliance to copper, which people think is the metal for the energy transition and that demand is going to outstretch supply in the coming years, and by buying anglo american, which has a very strong position in the andes, in chili, and combining it with the existing copper business, they would control 10% of the market. katie: who knew the mining industry could be so interesting. our thanks to bloomberg's will kennedy. let's turn to the broader markets now, because joining us now, we have david miller, catalyst capital co-founder, c.i.o., and senior portfolio manager, sitting to my left. great to see you in person. let's talk about where we are right now. we are at the s&p 500. we're at all-time highs. we have the likes of nvidia reporting after the bell today. it feels like the last few quarters this thing has emerged where it's all about nvidia. this is the most consequence convince shall thing that could ever happen. should we calm down a little bit? >> i mean, part of the question is what are we really expecting from nvidia? people

portfolio we see today.e expect to see 20 potential new drugs by 2030. many have the potential to be $5 the b billion drugs. >>> the nasdaq closes at an all-time high as the fed is focused on the next move. >>> and the eurozone pressures as german producer prices fall more than expected in the softer energy rates. >>> microsoft unveiling its latest lineup of a.i.-focused pcs as the race to get artificial intelligence tools into the hands of consumers and businesses heats up. ♪ >>> good morning. welcome to "street signs." great to have you with us this morning. let's get back to the top story. astrazeneca aims to reach $80 billion of revenue by 2030 amid significant growth with the oncology and rare disease portfolios. the pharma giant will expand the drug pipeline with 20 new medicines. arabile is joining us from cambridge. you have been talking to the cfo. >> reporter: i have carolin. it is one thing to have an ambitious plan, but another to get the growth from. you are nearly doubling the revenue from $45.

already proven mechanism last year on the initiative of this was done, we sold part of the fund’s portfoliolaunched projects, where the project ended investment phase, but there is one and a half to two years left until the end of the loan, in principle we can let them float freely, remove control, yeah. such projects were sold to banks under the obligatory condition maintaining for the client a unique preferential rate at which these funds were provided, and the downside of this story is the fact that we must compensate the bank. indeed, the palette of tools for supporting industry today is very wide, of course, our own is the industrial development fund, in addition to this , regional industrial development funds are our great helpers today, well, today in every region there are already, and in almost every region more than in 80 regions have created such regional funds, and of course they are our local ambassadors, they bring clients to us by the hand, seven out of ten of our clients are brought by a regional fund. they promote our product in the region, help enterprises prepare projects

we have to protect our portfolios for a high rate for longer. portfolios for a high rate for loner. . portfolios for a high rate for loner. . ~ ,, , . staying with us economic data, a separate report from the commerce department showed us retail sales were flat month—on—month in april, compared with an expected 0.4% increase. higher gasoline prices pulled spending away from other goods, indicating that consumerspending was losing momentum. joining me now is nela richardson, chief economist at adp. nela, consumers have been facing a lot of pressure from elevated inflation to the highest interest rates we've seen in decades. what have we learned from today's data? what we have learned is that consumers are still holding the line on prices. it is more modest than we have seen or expected. that has really been the mystery of the us consumer economy. they have been so resilient and the reason they have been resilient is that they are supported by a very strong and healthy us labour market. is supported by a very strong and healthy us labour market. is there a difference between _ healthy u

we have such unbelievable portfolios. it makes you feel so great.ybody for saying it is a great thing. we've been doing it since 2001. >>> coming up, hit us with your best shot. and electrifying lightning round is next. at morgan stanley, old school hard work meets bold new thinking. to help you see untapped possibilities and relentlessly work with you to make them real. [♪♪] your skin is ever-changing, take care of it with gold bond's age renew formulations of 7 moisturizers and 3 vitamins. for all your skins, gold bond. >>> lightning round is sponsored by charles schwab, trade brilliantly. >>> it is time for the lightning round. we play the sound and the lightning round is over. let's start with olga in ohio. >> hello, dr. trimmer -- cramer. i've been listening to for many years. >> thank you. >> do you remember the familiar sound of pull janowski? >> go ahead. >> i've been watching for many years. you are a great guy and you keep us going. you are the only one. i would like to know what you think about moderna. >> i still think that they have it.

only 10% of the portfolio.ot for it nt be's he did say in the meeting he anticipates, unless something goes really haywire, it will be one of their major investments for years to come, when greg able takes over the portfolio along with american expression and coca-cola. you and i tried to figure out on as a saturday, selling this to raise cash, you see a target? something you really want tobuy when you already have over $180 billion in cash or because worried what's to come and think maybe turbulence in the markets or financial system that creates opportunities? >> yeah. i do think that warren, even there, took pains to say it was not some kind of new re-assessment of apple's worth as a business. i would look at it from a portfolio perspective saying apple shares were up over 40% in calendar year 2023. that made it a very large portion of the common stock portfolio. 43% or something at its peak. a general orientation really not minding having a lot more cash around. seems to want to have a huge financial cushio

what's happened to you that the vision is clear, a purely electric portfolio portfolio, and yes, we firmly believe that the electric mobility is going to support the sustainable and so you are missing the future to disco was no longer costs have to have massive investments in the electric vehicle sector, german automakers, including miss status bmw and folks back and over the past decade. oh, gone to based when i heard that vast and ultimate curse represented by misstate as well going to give up on the electric vehicles. i quickly check out the more serious germ of financial media, such as the reports in honda's block, which said these what and vicious goals, according to the internal plans, mister spins am to achieve more than 20 percent of itself is fully electric cars in 2023, however, distilled, got based company, only managed to achieve electric share of 12 percent of the approximately $12000000.00 costs delivered last year. given this pace it, since i'm realistic for the traditional german ultimate garment status, to achieve its goal of fully electric sales by 2030. and so after our

we insist on healthy companies in our portfolio. your spring cleaning. we always hear the expression, jordan, buy in may, walk away, whatever it is. do you believe that's what you should do this time around or not? >> no, not what i'm saying at all, ashley. spring cleaning means pull out the weeds and water the things growing the best. we have a tendency as human beings not to admit to mistakes and average down into companies disappointing us. my whole approach is value, growth and momentum t has to have all three. so what i mean by spring cleaning, get the stuff out of your portfolio that is disappointing you, and for some reason it is not meeting up to your expectations but no, we're not selling right now and we're close to fully, you know, invested frankly in top, top companies. ashley: so you're note that concerned about the fed you know? i mean so much, it is all this hand-wringing over when and how many cuts will we see this year. the markets have done fine with those rates being higher for longer if you like but, you know, is

what's happening to you that is the vision is clear, a purely electric portfolio portfolio. and yes, we firmly believe that the electric mobility is going to support the sustainable and so you are missing the future to disco was no longer costs. have to have massive investments in the electric vehicle sector. german also makers including mis status bmw and folks buying over the past decade. oh, gone to based when i heard that vast and ultimate curse represented by me see it as well. going to give up on the electric vehicles. i quickly check out the most serious germ of financial media, such as the reports in one of those blocks which said these what and vicious goals, according to the internal plans, mister spins and to achieve more than 20 percent of itself is fully electric cars in 2023. however, distilled, got based company, only managed to actually use electric share of 12 percent of the approximately 12000000 costs delivered last year. given this pace, it seems i'm realistic for the traditional german ultimate garment status. to achieve its goal of fully electric sales

within portfolios there needs to be less divergence.f you are significantly invested in those names, i would pause and maybe think about taking profits and allocating it into the other parts of the market that will balance your portfolio and give you that security going forward. katie: let's wrap it up on a down note. where would you absolutely avoid right now? katrina: if i was to completely avoid the market, it is very difficult. for so much of my career, i was always able to pick out a country and say don't invest here. last year was easy, europe, because of the rising energy costs. but they have gotten over it better. for the first time in my life, the entire market is investable, which means you want balance, you want a portfolio that doesn't have country risk and it. katie: you can find a silver lining in everything at this point. growth is not a concern. our big thanks to katrina dudley of franklin templeton investments. the s&p trying to hold onto gains of .1%. coming up, our exclusive conversation with treasury secretary janet

controlling a large portfolio of high purity iron ore resources.mpion is considering strategic partnerships to further develop the region. champion iron. glp-1 drugs used in weight loss treatments are a global blockbuster, even with unliked and inconvenient injections. more human study results for lexarias patented oral delivery technology are coming soon. lexaria bioscience. >>> welcome back to "worldwide exchange." time for the big money movers although after nvidia, these may be medium money movers snowflake up 3%. the company boosting the forecast after growing 38% this is the first report since the departure of the cfo the new chief stressing strong demand for a.i. with jim cramer last night >> our a.i. products are available. over 750 customers are sending applications to production i would say the enterprise a.i. is here at snowflake >> e.l.f. beauty up 2% after posting the first $1 billion fiscal year. sales growing 77% as more consumers find value in the low-priced beauty products prices will moderate in line with the slowdown. catch the i

that is a lot of money that is tied up in this portfolio. however, you could see in the no growth scenario, we expect to get only 107. that difference, we know it will come--this is very much market dependent, but that difference is something that we have to manage. and so next page talks about--let's calibrate it. what is the probability of the no growth scenario we are managing, and generally, what should we expect when the market conditions normalize? so, on this page, you see the forecast of net contributebution and distribution from all the private investments each year, and you could see that the average this year, this is the $853 million, but the distribution and the blue is the 25 and 75 quartiles but you could see right now--i think the blue is 10th percentile. we could see that in more then 85 percent of the time, we are expected to be net cash-flow positive in private investments, but now what we see is [indiscernible] closer to 10 percent of the time and we are cash-flow negative. but, over time we certainly expect to have consi

we look at the multifamily portfolio, the single-family, the public housing portfolio. we looked at what is the research that is out there that we need to pay attention to, are there things that hud is doing now by way of building more resilient housing that will help reduce insurance costs in months and years to come? and we have some wins just last week. we announced the new wind and storm damage insurance initiative from our office of housing that we think will help in terms of ways that hud is bringing its authorities to bear. dennis: so this is a focus. adrianne: absolutely. dennis: it sounds like you have been working this issue for about a year. adrianne: we wanted to make sure we were thoughtful about what we can do and to really look at things that are required and also things that we can do to meet the moment. many housing owners may not know when and if they can send additional information that increases the amount of funds that hud can provide them. but there is a larger issue, just like the insurance cost to begin with, and we are going to have a special se

it’s a very good time to start buying bonds for your investment portfolio, that is , the government debtchtime sell, and let's say you decide to buy bonds for 500,000, let's say, yes, that is , you will do the following, buy them right now, when you have decided that you are starting to buy, buy right now for 200,000, you can buy bonds now , not only are they cheaper than face value, that is, how much now, let’s say, from 100%, how much now, we say, when at the bottom, there are from 80 to 95 depending on what, that is, in fact there are already almost 10- you can earn 15% only if you you buy a bond and are not going to speculate on it, you just bought it and put alexey in your portfolio, everything, that is , the state owes you, it will pay, well, if something doesn’t happen, yes, we accept. this zero risk that nothing will happen to our state, it will pay off its obligations, plus it will also pay you a coupon every year. you can find all episodes of the easy money podcast on the website of the first channel 1tv.ru, what about corporate debts? corporate debts are an interesting thing,

the game of buy cheaper, sell more expensive, if you if they actually bought it and are in your portfolio, then this is a fixed income, because you receive an a-coupon and the state is responsible to you. in order to pay the full face value of this debt security at the end of its term, because in stocks no one bears such responsibility to you, and stocks are not debts, after all, we started with the fact that a bond is a debt, and any debt is returned and in the nominal value at which it should be returned, yes well with those with the level of risk that you are ready to determine for this issuer, but in principle, you and i know that government debts are the same basic level, but that’s understandable. i’m talking about 100% profitability only to him and up there, but in principle you should always define some kind of fixed profitability, fixed risk, so it is accepted as zero for a certain category of states, i think that for rubles, i think that the risk of the state is accepted as zero, we have recent history, when there was a default in 1998, yes and here it must be said that people o

>> we are optimistic about that goal, and if you see our portfolio today, we may cars and the mid tof the market, and even with that the number one suv player from a revenue perspective in the past three quarters if you look at it and from volume as well, we are number two, so we are optimistic we can take our segment products into the ev range. >> how about your local supply chain for ev batteries? you have a partnership with the volkswagen. your competitors are building better implants in india, but we have not heard similar plans for you. how will you bring down the cost to streamline your every supply chains to keep costs low? >> most of what is happening so far is largely around battery assemblies, not the fundamental of making the battery units themselves. we have an assembly plant along with the factory as well, so the next level of innovation has to happen at the fundamental level, and our partnership is a holistic partnership over a period of time. >> how do you see that partnership growing? volkswagen is trying to sell its own ev's in india. >> early to talk about anything

portfolio, which sounds ironic.the dividend portfolio where we try to maintain that 5% or better dividend yield, i just waited and waited and waited, and, as you know, for the better part of the year i was holding cash and the short list was dominion where i waited and finally got in. bristol-myers, waited and waited. finally under 48, the dividend yield was higher than 5% and we stepped in. but the thing is, you're going to look at this and think i'm nuts and it's really ugly. what you see are earnings that are declining. even if earnings decline to consensus estimates, the stock is still trading at eight or nine times. the free cash flow that they're generating is off the charts. it has like a 17 free cash flow yield. this year will generate $17 billion. $13 billion next year. they've got a 5 and change dividend. earnings aren't growing, the dividend itself is actually growing at about 7.5% a year. and what are they going to do with all that cash? flash me back to 2018 when i first bought abbvie and they had their

double digits earnings 27% we exited the quarter, with record backlog strong backlog across the portfolioou know we do mission critical emergency communications for police and fire, 13,000 of those private networks around the world we do 911 software, 911 call handling, management all things video, so i think we have one of the widest, product portfolios in video, mobile license plate recollection, a.i. analytics to drive in power. >> what i love the fact that your dual, benefiting from this need for more security. >> absolutely. >> we are in a dangerous world right now this makes motorola that much more important the radio refresh i want to hear about i see the typically refresh cycle for public safety is seven years a is that right. >> in u.s. -- smartphone i replace phone two or three years, first responders police officers on average replace every seven years we have revamped refreshed our device portfolio in the u.s. in europe in other markets, so we're in early to mid innings of a defies refresh powering a lot of growth along with services expansion, managed services all things vide

outperformance will not persist, what will happen to my portfolio?that against her goals because every investor has specific roles in your portfolios. close those gaps by doing one of three things, either shifter allocations, shift within your allocations, so you can look at equities in the same way, but choose the equities that perform the way you would like relative to your goals, and/or create returns that specifically address the problems that you are worried about. so that is what we do at bridgewater. we spent a lot of time with clients, talking about their portfolios and stress testing it , making sure we create solutions. >> one obvious thing, one reason why people have done well is if you simply bought six american tech stocks, and just to push you on that, the new normal will not be the same, that would imply to me at least that maybe those u.s. tech stocks might do as well over the next decade as they have the past time? >> big point i cannot agree with more, and this is what i meant at the beginning, not just in the u.s., but you drop it

i would be curious to hear your take on it if you look at your portfolio now. how are you thinking about your sector allocation? nancy: we thought the economy was slowing down before we got the gdp number and we thought the labor market was softening. one of the things you have to do is know how to pivot and we think i would rather own a technology company that has continued to deliver reliable earnings growth in 2022 and 2020 for than a consumer staple trading at a similar multiple and growing in the low single digits, so i think some of the technology names are the new defensive's and the consumer staple names are expensive. we do on walmart and pepsi. we own these stocks for the next three to seven years. walmart has demonstrated inability to embrace digitization to their -- demonstrate an ability to embrace digitization to their advancement. katie: we are going to take a quick check on what is moving under these markets with bailey lipschultz. not a great monday for tyson foods. >> we saw stocks higher, but then you look at the analyst call. management sayi

haslinda: how is your portfolio looking right now? have you made changes of late? charlie: certainly, european rights, we have got the bank of eglinton i are the u.k. look likely to be setting up for a rate cut. we saw the riksbank cut rates yesterday. we still think canada and new zealand can cut rates in the near term. the u.s. not so much. we certainly have a favoring in our global portfolios to be underway treasuries to some degree versus those markets that are going to see more active central bank movement. but none of the central banks can get very far without the fed participating. they are at risk of devaluing their own currencies if they let those interest-rate differentials get too far. we are seeing japan really struggled with that concept right now. whether this kind of perpetual weakness in the yen is causing issue. we do have a favor for those markets that are a little further into their restrictive rate settings, have had higher transmission mechanisms, and we're seeing that bite through their own macro domestic data, whereas the u.s. has been except

high taxes can erode returns quickly, so you need a tax-optimized portfolio.ive planning, our money managers and specialists work together to make sure your portfolio and wealth are managed in a tax-efficient manner. it's what you keep that really matters. why not give your wealth a second look? book your free meeting today at creativeplanning.com. creative planning -- a richer way to wealth. >> humanity needs to mine about as much copper in the next 25 years as we have mind and last 25,000 years to maintain mobile gdp growth. we are going to dream about energy transition to power these lights, we need to mine the same amount of copper in a short amount of time as we ever have. most of the world's minds have been dried for capital, and we need them to be done in a new way, cleaner and a more sustainable way to mine, a huge challenge that requires a higher price to stimulate capital investment. haidi: that was the capital founder and chair, speaking to us at the qatar economic forum in doha. across the breadth of trading at record highs from equities to the big

or low-cost actively managed funds is really the right way to build a portfolio you and i both knowt when it comes to investing time is your friend and being in the market is often a lot better strategy than trying to time the market. there are those who are pretty good at it, but it's a minority. and of course those who do it well are incredibly disciplined, very careful they utilize all the risk management tools we make available. those are the folks who generally trade and do it successfully over a longer period of time >> from your perspective i know we hear about this higher for longer, but are people going -- people at your shop, they want inflation tamed because they know the value of the dollar will be eroded what would you say is the zeitgeist of the place we want rates lower because we obviously want to make more money. at the same time you have core investors who must have inflation slain or else they're going to lose their purchasing power. what do you think is the mood of the account base, if you will? >> well, we just put out today one of our regular studies on client

and they can proactively view your entire portfolio. with an eye on taxes and the impact of risk.o you can enjoy moments together. because doors were meant to be opened. (♪♪) (♪♪) what took you so long? i'm sorry, there was a long line at the thai place. you get the sauce i like? of course! you're the man! i wish. the future isn't scary. not investing in it is. nasdaq-100 innovators. one etf. before investing, carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com >>> we have a news alert out of washington. >> president biden will be meeting this afternoon with group of eight ceos at the white house. the white house says they'll be talking about the u.s. and the global economy and the president will be discussing his strategy of investing in america and rebuilding we have eight ceos in manufacturing, banking scott kirby from united airlines and others at the white house this afternoon discussing the global economy and the president's economic policies. we'll bring more details when we have them. >>> vistra energy fuel

i bet any one of these is going to be good for your portfolio.n the retail reit industry. you know what? they might be the best in the entire reit business itself. "mad money's" back after the break. >> announcer: when we return, master the markets one stock at a time the "lightning round" is up next your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire ♪♪ sandals jamaica sale is now on! with rates from $199 per person per night. visit sandals.com or call 1-800-sandals we put our heart into celebrating moms. we are local farmers, bakers, florists and makers who grow and create with a passion. 1-800 flowers. for mom, with love. >>> it is time it's time for the "lightning round" on cramer's "mad money" -- buy buy buy -- play until you hear this sound. and then the "lightning round" is over. are you ready, skee-daddy? time for the "lightning round" on cramertion "mad money." start w

that is a very selective portfolio. that's our job. a solid pace but i will equally tell you that inflation we've been saying a long time is still sticky. we're still seeing that in these businesses. they're seeing cost pressures and passing price increases to their users. higher for longer but a pretty sound economy overall. ashley: very good. you did that perfect time. marc, thank you so much for joining us. we really appreciate it as we head towards the closing bell here. [closing bell rings] the major indexes as you can see trading in a very tight range. we have big data ahead this week which could move the markets. ppi tomorrow, cpi, those numbers will be out on wednesday. thanks for joining us. ♪. larry: hello, folks, welcome to "kudlow," i'm larr

we operate on twowo tenths of 1% of a budget for $1.6 trillion portfolio. we are not being treated like other banks. >> you're not treated how -- i'm sorry. >> fundingwise to administer 1.6 portfolio we are operating on two tenths of 1% for administrative costs. we are asking for additional dollars to help make sure that we can but not only implement the -- the comments from auditors but also improve services. >> how do you think we should be providing additional funding? do you think the american taxpayer should be satisfied with the funding that you have today with the way that you're handling 1.6 trillion in taxpayer dollars? >> we found the errors and we are correcting them. we are providing better service and it's our goal to do a better job providing services for our borrowers. your support of the budget would help that. >> i want to get to the clock-hour rule which is the department reverse the clock-hour rule and education programs that are offered at community colleges and career colleges to provide students with the education with amount of hours

high taxes can erode returns quickly, so you need a tax-optimized portfolio.creative planning, our money managers and specialists work together to make sure your portfolio and wealth are managed in a tax-efficient manner. it's what you keep that really matters. why not give your wealth a second look? book your free meeting today at creativeplanning.com. creative planning -- a richer way to wealth. >> will come back let's take a look at futures a pretty good rally, the dow industrial 144, the nasdaq up 157 s&p higher by 33 interest rates looking like this, the ten year treasury trading lower by what and happy to point at a level of 4.61%. the federal reserve leaving interest rates unchanged for the six street meeting acknowledging a lack of progress in getting inflation back down to the central bank 2% target here is fed chair jay powell putting to rest of a possible rate hike this year instead. >> we do not expect it will be appropriate to reduce the target range for the federal funds rate until we gain greater confidence that inflation is moving sustainably t

’s very interesting to buy bonds now and i’m also thinking about reducing these positions in my portfoliost gradually gain, yes, gradually increase the portfolio, and bonds do not react very quickly, but to such changes, yes, of course, events ala 22 2014 are a quick reaction, yes, but precisely for... for such quick reactions begin a good moment for purchases, all professional investors actively use this, now is a very good time to start buying bonds for your investment portfolio, that is, the government debt of the russian federation, you can do it slowly, it’s not like that everything is lost there and at lunchtime they will stop selling, but let’s say you decide to buy bonds for 500,000, let’s say, yes, that is, you will do it in... and i’ll note that now our central bank rate is 16%, please note, our dear viewers and listeners, that it’s not the banks, when they give you 16%, they don’t give you for 5 years, for 10 or even for a year, because everyone is waiting for the central banks to lower the rate in september, as you said, well, in the second half of the year and said that we sho