gerri: i want to ask about bill grossi and pimlico as the father of a regional fund investing he was a misleading pimlico now lot of assets are flowing out. what does that is -- what does that say about the future of the mutual-fund industry? >> it will have to do change it has the problem that is most of the fund groups and small fund groups are owned by private enterprise people and corporations in giant conglomerates in the half to a bezoar please the shareholders of the ministry company at the same time pleasing the shareholders of the fund. and those of her being served as the management companies and 180-degree u-turn that is where we get the advantage because we are owned by our own flag behalf shareholders it is valuable. gerri: and very different from other companies. >> no one has ever copied us 87 or copied you. you are one of a kind. thanks for being on the show is great to see you. >> nice to invite me. good to see you. gerri: americans heading into retirement get a failing grade of their knowledge. just 20 percent has an idea how to make their nests day class. -- mistak