dollar and the euro. >> that's true thank you for joining us, ari paul, fascinating stuff.this is right up your alley, dan. >> hopefully we'll be doing it on "options action." when you think about a $3600 call one year out on a $50,000 strike, that is still 7% of the 50,000 strike. the probability of making money on that is very low, okay? so to me, i think there's a lot of people who own this volatile cryptocurrency who would rather sell those calls to actually take in some premium against this volatile asset. >> one other sellry poi rsummar. he talked about the reason he put this trade on is because of the volatility this isn't necessarily a bullish statement about near term crypto, i'm a believer long term, but this is a bullish statement on volatility. >> ultimately, what i think ari is doing is trying to employ a number of risk management methods or portfolio management techniques >> right >> that ultimately is the question i have for anybody that's managing a fund in crypto what's the skill set, what's the track record that either entitles you or gives you an edge in

philippe, i hope you can join me here later on "the beat." >> any time, ari. >>> paul manafort is not pleading guilty. what is his defense and how do donald trump's lawyers make their arguments? our special tonight has many different beats and our next beat is the lawyer that defended tom delay on the defense strategy. stay with us. getting under my denture. super poligrip free. it creates a seal of the dentures in my mouth. even well fitting dentures let in food particles just a few dabs of super poligrip free is clinically proven to seal out more food particles so you're more comfortable and confident while you eat. super poligrip free made even the kiwi an enjoyable experience try super poligrip free. ♪ so how old do you want uhh, i was thinking around 70. alright, and before that? you mean after that? no, i'm talking before that. do you have things you want to do before you retire? oh yeah sure... ok, like what? but i thought we were supposed to be talking about investing for retirement? we're absolutely doing that. but there's no law you can't make the most of today. what do you

ari paul, the man who sees bitcoin hitting 50,000, yes, 50,000, will be here to tell us how soon it could's so bullish. >>> plus retail stocks surging after holiday spending nhit new record high. >>> first we start with apple's lump of coal for investors the stock sinking more than 2% on reports that the tech giant could cut its sales forecast for the new iphone x and spark a chip

like giorgio armani and l'oreal ,aris, it is beautiful imagery and chinese consumers aren't sensitive to that. they like it. francine: is the u.s. a tough market? ,ean paulit is a bit softer certainly softer than china, but it depends. last year, the u.s. was very good. market roughly globally is more or less growing at 4%, but never the same way. francine: how difficult is it what will work and what will not? why am i using this mascara, this foundation, not the other? jean paul: when you know well your consumers, understand their desires, can guess their dreams or expectations, then you can create what they will love. francine: what will the next four years bring? is that a specific market that will grow more, men's cosmetics, or something else? the paul: digital will be most important element of transformation in the markets, so definitely e-commerce is growing. e-commerce in china is 30% of our sales for our mass-market brands, huge, so we will see digital growing. we will see new channels emerging like specialty stores, our own stores. , a growing big segment is travel retailing, the stores in the airports, because more and more people are traveling