when i first started covering markets, imagine atari when we were kids.s phone, the technology has changed so much this phone has 500 million times the power of that atari. that eknology has been applied to trading. what we do that was the atari of when we were learning how to trade is now a 500 million times that complex. >> absolutely. when you look at the complexity, if you look at the price of disney in one second, there are 30,000 price changes in one second of disney stock. what's the price? >> here's my main question. we're talking to people about whether they should have been invested and whether with the traditional measure, the price to earnings ratio being lower than four years ago, whether you should still be invested. let me ask you this. is the deck stacked against? >> the deck is stacked against a day trader. those days are over. for retail investors, you have access to firms who will manage this for you who do have the superpowers for you. but trying to do it yourself and thinking you're going to outday trade a black box, you're dreaming.

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. >> for every one ibm you can pull out, look at xerox and polaroid and atari. i mean, i can give you a xwr graveyard of tech stocks that didn't follow the model. >> what's wrong with tech then that they don't follow a regular growth in earnings model? what's the problem? >> i think they do -- the problem is once tech stocks begin to pay difference tends, the best years historically have been behind them. forget about valuations from '07 and 2000. just take a look at almost any 20 year period. >> what is your point? they're using that money for innovation? >> they become behemoths. just like general stock, it was the storied stock of the '90s. >> but that's not technology. >> no, but the same thing. when companies become so big and they become clumsy and they can't move quickly, they lose -- they're not nimble. it's the same thing. are you telling me microsoft and intel, that's where you think we should be on a go forward? there's hundreds of companies that are micro caps right now. >> timing is everything. where you buy is key. you have to look at today, where

a skeptical store, and atari skeptical story? dozen usual.out and when it doubles in size it's notable, even if it's a small number. so it did look like those small numbers might of inconsequential. but in very small ways. you saw the numbers are quite stable over time. >> [inaudible] right. so now you're shifting from the content of the stories to the number of stores but you're right that in 2007 there were a colossal number of new stories about that change. it's never been anywhere near that since then. there is a hypothesis in political science that's referred to as the media agenda setting, the idea that is to meet our comedy by an issue, doesn't matter what it is, americans will think it's most important issue facing the country. that did not happen for this issue to even in 2007 with a colossal number of news stories, nobody in america was saying climate change is the most important problem facing the country today. which is our measure. that's not the only measure of belief in the phenomena or support for federal action, or even prior