jonathan gray, blackstone president and coo.omberg. ♪ it is with great pleasure returned to erik schatzker because he is here with jonathan gray, blackstone president and chief operating officer. erik: thank you. jonathan gray, good morning. thank you for coming to bloomberg. athan: thank you. great to be here. erik: you held your investor day in four years on friday and revealed a lot about blackstone's future, and you initiative in life sciences you are talking about with an expansion in asia, and an emphasis on permanent capital, and specific funds you plan to raise. why reveal so much about your strategy? jonathan: it has been a while since we sat down with investors and we wanted to give them a comprehensive update. a lot has changed at blackstone since four years ago. the biggest thing that has changed is the way the firm is expanding. further, theack firm was more focused, let's say, in private equity and real estate private equity, and we have seen this liberation of things we do, all built on the backs of delivering gre

. >> scale is a word used in conjunction with blackstone.ut blackstone has attracted almost as much capital in the past five years as your three largest competitors, combine. why is it important to be the biggest? >> for us, scale has proven to be a competitive advantage. one is in buying assets. in public markets, if you want i buy $1 million of stock and want to buy $1 billion of talk, i will move -- of stock, i will move the market. in private stock, we end up in a bilateral discussion. the same when ge wants to sell real estate. scale matters. a gives us information so if you think about our portfolio, what we're seeing on the ground allows us to do more and there against ouries scale. the reason we have been able to expand into energy, into core private equity, is because we have the space and -- have this base and we can grow off of it. it helps us drive higher returns which is the essence of our business. >> bigger is better? >> if somebody needs a solution in a hurry, if you need to a one money and you need billion dollars, $2 billio

a representative from blackstone declined to comment.rg lp, the parents of bloomberg television, competes with thomson reuters in providing financial use data -- and analytics. interest from suitors including blackstone and carlisle. the private equity firms are considering submitting bids for a consumer data giant. a deal for nielsen, which has a market value of $9.6 billion, would rank as one of the year's biggest buyouts. ,epresentatives for nielsen blackstone, carlisle and elliott declined to comment. oil sales from the u.s. china trade war. bob dudley says the dispute is being felt by the company in the price it pays for steel. speaking to bloomberg, he also said he sees further upward pressure on crude prices. >> what is going to happen with the iran sanctions? is it going to come off market or go back on the market? prices feel high to me. overall, the stock levels are low. there is upward pressure. that is your bloomberg business flash. manus: thank you very much. stay with bloomberg for the rest of the day for unmissable intervi

. >> breaking news on blackstone.pected to raise $18 million for its biggest real estate fund ever. it is expecting that it will raise 18 elegant dollars. -- billion dollars. we will bring you more as we have it. a spokesperson declined to comment. for a look at u.s. markets, we can see that the dollar index has regained ground. it is still below 95. partially because of the currencies that are moving including the turkish lira which is weakening today. it reading a lot of ground. the ruble is down. the two-year yield i want to point that out because it is rising. it is now at 2.78%. let's have a quick look at the macro movers. crude finishing out around $69. primarilyis stronger because of the central bank action of the 25 basis point increase. you can see the other commodities are losing ground again as well as gold and copper which is down 4/10 of 1%. this is eyeing the hurricane in the u.s.. there is still no word on trade. will we get the tariffs on china? that the next week? too many questions. lehman, thereter

john studzinski, former at blackstone, joining pimco? john studzinski left blackstone in august.s there. new he was looking for a challenge. his new challenge will be on the stage at pimco. he will be joining the firm and doing similar things to what he did at blackstone. he was an incredible relationship older. he worked with some of the richest investors in the world at lax on. david w.: blackstone changed the business over time. he will buy sovereign wealth funds? whereit is also pimco, they are at. and how they want to build the business? >> that's right. pimco has tried to expand beyond the fund manager. a big push in private equity. it will be interesting to see how they leverage his relationship around the world to will up -- to build up client base. david w.: no sooner did they get the basic ceo job filled, now, who is the number two? game of thrones? do we have -- note, going past you guys. i killed it right there. [laughter] i read the books. by the way. someonethinking about going out into the bow and arrow in the wilderness? this is a fun read. talking about whether o

john blackstone has the story. >> reporter: as a 10-year veteran of the santa rosa police department,se befriended a pregnant, homeless woman with a drug addiction, whom he frequently ran into while on patrol. >> there were times i got her shelter at different locations. sometimes she would take me up on it, and sometimes she wouldn't. >> reporter: then his wife met her on a ride-along last august. >> we got to talking and she was very obviously pregnant. and i said, "oh, you're pregnant." and she grabbed my hand and she put it on her stomach and i had no idea that a year later, the baby i was feeling in her womb would be our daughter. >> reporter: in february, they got an unexpected life-changing call. the birth mother had specifically asked for the whittens to adopt her child. they agreed, despite concerns about the baby's health. >> we didn't know what to expect. >> we didn't know. >> we knew that we were going to take her no matter what. >> yeah. >> burt we were like is this going to be something where she's going to be hooked up to tubes the rest of her life? >> she did go throug

john blackstone reports on how it's makig it possible for one ki >>> for a girl and her parents it's welcome relief. john blackstone reports on how it's making it possible for one kindergartner to stay in school and perform her best. >> reporter: village school in santa rosa, california, five-year-old brooke adams is there driving in kindergarten. that's a huge breakthrough, says her mother. >> she's playing. she's learning. she continues to 20. she knows her colors. she knows her letters. >> reporter: brooke's success comes in spite of a debilitating condition, a form of epilepsy that causes violent seizures, her family once recorded on video. >> her seizures would be lasting hours, even in the hospital, trying to get them to stop was very hard. >> reporter: no medication worked until they tried an oil derived fromana. >> we started to explore thc, which is the psychoactive part of marijuana, but that is actually what her body needs to stop the seizures. >> reporter: when it came time for brooke to go to kindergarten, the school district put up a roadblock. >> our concerns were real

blackstone group is making a big push into asia and technology.and ceo earlier to discuss blackstone's investment strategy and broader economic outlook. >> we get face management fees and also performance fees. the market puts a bigger discount on performance fees even though we have shown that we have been able to generate them. it is a bit of a sore spot for us, but we understand the market likes more recurring earnings that are more predictable. so we have said, look, if you look at the mix that is happening, if you go back to 2017, about a third of our earnings were fee related to her that could grow as much as two thirds. >> scandal is a word used in conjunction with blackstone frequently. you point to that, the blackstone has attracted almost as much capital in the past five years as your three largest competitors combined. why is it important to be the biggest? why is it important to grow by the most? >> for us, scale has proven to be a real competitive advance. what do i mean? if you think, about it, and public markets, if you want to buy

john blackstone, cbs news, san francisco. >> glor: dream crazy is good.e "cbs evening news" for tonight. i'm jeff glor. we'll see you tomorrow. have a great night. captioning sponsored by cbs but is it realistic.. and who's going to pay for it? >>> now at 6:00 an ambitious goal, california going 100% green by 2045, but is it realistic and who is going to pay for it? good evening. i'm elizabeth cook. >> i'm allen martin. governor brown made it official today signing legislation to phase out fossil fuels that power the energy grid. what he left out was a roadmap for how to pull it off. kpix5 political reporter melissa caen with a bit of a reality check tonight. melissa? >> reporter: after a year of historic wildfires and warnings about sea level rise at places like this, today california became the largest economy in the world to take steps towards 100% clean energy. >> california is committed to doing whatever is necessary to meet the existential threat of climate change. >> reporter: today governor brown made it official. by 2045 all electricity in califo

essentially, right now, blackstone is not paying taxes to the degree that they would on performance. sudden, you could have more owners mutual funds, other institutions that don't own it will be able to own it. if it is a catalyst, i think it'll work the company is doing well anyway. >> jim in orlando asks you, steph, if you're on stanley black & decker. >> yeah, i got back into it. the stock has fallen 17% on the year it's had a nice rally. down at 9% 8% discount trade to the peers trades at 15.5 times forward estimates. this is a great, diversified company. i love the craftsman deal. be patient this is a tariff-exposed name. on the bad days, that's when you pick away at it. >> jim, andrew in new jersey adobe, buy, sell, hold, after the acquisition. >> before we get to the acquisition, the stock has kw quadrupled in four years price earnings to growth ratio is not expensive it is not cheap but certainly not expensive. the problem is, in order to maintain the peg ratio, adobe has to grow earnings at 30% a year for that, they need to make acquisitions i like this. i think adobe is goi

here's john blackstone. >> reporter: for elizabeth smart, the release of one of her kidnappers, wandazee, years earlier than expected, was a shock. >> months ago, i was on my way to a parole hearing when i was told that she would never be let out until 2024. >> reporter: in 2002, smart was 14 years old when she was d dnapped from her salt lake city bedroom. nine months later, she was discovered. >> we have found elizabeth smart. >> reporter: she had been held captive by a one-time street preacher, brian david mitchell, and his wife, wanda barzee. daart says mitchell raped her almost daily with barzee's help. >> she is a woman who had six children, but encouraged her husband to continue to rape me. orteeporter: in 2011, mitchell was sentenced to life in prison. in june, the utah parole board set barzee's release date in 2024, but last week announced a miscalculated credit for time nrved in a federal prison. she will now be set free .eptember 19. >> i never wanted to think about her ever again. so, do i believe that she is dangerous? yes. but not just to me. i believe that she is a dang

blackstone offered a rival bid.australian operative that has 37 office buildings across the country. i'm watching stocks after a magnitude 6.7 earthquake shook the northern island in japan. that left the entire prefecture without power. hokkaido electric falling 4%, although the company did say there was no impact to its nuclear plant, which has been off-line since 2012. keeping an eye on japanese airlines, and he has canceled flights. kathleen: checking the markets on an interesting day. let's get to first word news with jenna dagenhart. jenna: canada said trade talks in washington remain constructive and both sides are expected to offer new ideas. there have been nearly daily meetings. a post-nafta deal will happen with or without canada, says trump. a trade deal with south korea has been completed and will be signed in the coming weeks. the u.s. trade deficit widened in july the most in three years. the gap with china hit a record as the two sides indulged in tit-for-tat tariffs. it increased to $50 billion, the

scale is a word used in blackstone with frequently.t blackstone has attracted almost the past fivel in years as your three largest competitors combined. important to be the biggest and grow by the most? us, scale has proven to be over and over again a real competitive advantage so what do i mean by that? one is in buying assets. if you think about it in public you want to buy $1 million of stock and i want to buy $1 billion of stock, you have a competitive advantage because i'll move the market. if you go to private markets, routers wants to we end upillion deal, in a bilateral discussion, the g.e. wants to sell real estate so scale matters. it also gives us information. think about our portfolio companies, what we're seeing on the ground around the world, allows us to do more and there are all sorts of our scale soainst the reason we have been able to , theinto europe and asia would reason we have been able to expand private equity into privateinto core equity, is because we have this large pace and we can grow off scale is really imp

john blackstone, cbs news, san francisco. >> florence is breaking records even before it makes landfall that story is coming up next. >> dr. stanley: remember this: cannot change the laws of god. when he has visited you in some form of adversity and he brings you through that, that's like he has increased the strength of the foundation of your life and your faith in him. [music] >>> there is some breaking news tonight outside boston. a series of natural gas explosions set off fires in more than 20 homes. several neighborhoods have been evacuated. at least two people have been hurt. the cause is not immediately known, but crews were sent to shut off gas and electric lines to prevent further explosions. >>> we're going to be right back and checking in on some families riding out the hurricanes in shelters. >>> hurricane florence has forced a million people from their homes along the north carolina coast. thousands have packed into shelters in the raleigh-durham area. elaine quijano was there. >> reporter: what do you bring when the future is uncertain and you're 6? for ayla harper, pink r

i have read caleb's work, i have gone back and taught a course on it, i have gone back to blackstone, what we have tried to do is to understand it throughout the english -- and i think actually, people like blackstone would be astonished that when you have written law, that we are actually applying stare decisis the way we are, instead of just referring back to the way it is written. but, what separated us was i unfortunately, if you accept the premise in some of these cases, that is it. that leads you inexorably to conclusions that are antithetical i think to the constitution and its statutes. leonard: one area where some people submitted questions mentioned that you were but recently, was the issue of -- onwide we haven't seen a good excursion into that topic on the high court for a long time. can you talk a bit about what motivated you to focus much attention on it? justice thomas: as most things on the court, it is a simple question. i asked my clerks, where does this come from? form that encourage shopping? where does it come from? where does the judge get to have jurisdiction be

back to blackstone. to do is to ied understand that throughout the actually, thehink people like blackstone would be astonished, when you have law, that we're actually decesis the way we are instead of referring back to what was written, but what us,cy think unfortunately, if you accept the of these cases, that's it. inex-ably to conclusions that are think, to the i constitution and certain statutes. some area where i think people who submitted questions mentioned you wrote about ecently was the issue of nationwide injunctions. and we hadn't seen a good topic at theo that high court for a long time. can you talk a little bit about you to focus so much attention on it, and -- things i mean, as most on the court, it's a simple question. where asked my clerks, does this come from? mean, doesn't that encourage form shopping? where does it come from? judge get to have mean, iction beyond -- i there are some cases where just by the very nature of the law involved, federal law involved, that if one judge enjoin

blackstones that plenty of business in china.o does jp and all these firms, they do well by having u.s. companies having access. neil: not xi xinping? >> no. his number two. they will send number two, they feel they have cover to send a number two? >> i think they just, they don't want to be part of overt lobbying effort. neil: how real do you think this is? >> china is the big trade. we can get something settled with canada in next few days and weeks. china is the big worry. >> here is what ceo's tell you. china is a bad actor. give peter navarro one thing he raised consciousness, and donald trump, all the bad stuff china does on trade, stealing intellectual market, no doubt. they have a huge market and booming economy even as they slow down and our major businesses want access to that economy. they want so much access to the economy they were willing to give up intellectual trade secrets to get access to it. there is where the conflict is. they all want to do business there. it is good for these companies to do business there.

a representative for blackstone declined to comment.loomberg lp competes with thomson reuters in providing financial news data and analytics. that is your bloomberg business flash. much.thanks very juliette saly with your first word news. ism in zurich and joining me sarah frier he on a very cold deck of this hotel. -- we're up the looking at the family office business growing and becoming reallyzu a successful piece of -- really a successful piece of the banks p&l. offices all of a sudden booming in this century? , in regions like europe and the united states, family offices are helping. , family office support, 7% of the offices i have interviewed have been asia,d -- clearly in industries are growing very fast. [inaudible] the reality is a couple of things are driving the increase of family offices. first of all, increased sophistication in the way families manage their money. there is clearly an increasing wealth. there have been a number of liquidity events over the past 20 years that have resulted in two very significant -- that yo

27,000 what is one of the biggest investment firms in the world doing with its money we'll ask blackstonesident and coo jon gray that's next on "power lunch. >>> welcome back to "power lunch. markets at record highs, shaking all tifears of a trade war and rising interest rates. why aren't the markets more concerned? let's ask a person who oversees over $400 billion worth op invei -- of investments david joins us now. >> thank you usually when i sit down with jon gray, we talk about all the macro kinds of things, given blackstone's reach around all geographies and into all asset classes. we'll get to that today. we're at the plaza hotel because you've finished your first investment meeting in four years. is that a typical thing? >> we've been busy. >> busy. the stock is up, so you clearly did a decent job today what are the messages that you sort of wanted to try to impart four years from your last meeting, given the increases you've had in so many of the important metrics, but the lack of increase, frankly, in your stock price? >> yeah. the message was that the firm is in terrific shape,

for two point one billion dollars the announcement was made earlier today as part of the deal the blackstone equity firm reportedly will sell their twenty percent stake in versace to course for corus the less glamorous but more visible and prevalent of the two brands the deal is an upscale fall upscale follow up to the acquisition of luxury shoe maker jimmy choo who are seem poised to leverage for saatchi's prestige with their own market presence with a plan to increase the number of versace store locations from two hundred all the way to three hundred versace's creative director who's known to be outspoken and right on target is donna tellers saatchi who took over twenty years ago from her brother was actually murdered but she will reportedly continue her role after the merger miss versace who has led the fashion house for these two decades com slash boom bust r.t. so long for now. not that who these dances leaked lawrence leak out to. you you when. doesn't get a good look at that is to close most of the book called this a back. to school strong states about seeing new yorkers. just for a l

we reported on friday that blackstone is seeking to raise $18 billion for their biggest real estate fundoch-ziff looking to raise $2 billion. it is interesting because they are known as a hedge fund first, but they have tried to diversify since the bribery scandal they suffered in the last couple years. david: that is the question, is this a redirection? >> we saw a new ceo come in and he has decided to diversify assets. they have gone big into credit, real estate as well, so he is saying we are trying to right the ship. they have suffered withdrawals from the hedge fund side, so the real estate bet is part of their strategy going forward. alix: and again, when you are about hedge funds and private equity, talking about billions of dollars in the market, is there enough actual investment to put your money into and where does it go? driving of the value? david: and we have heard about how much drive power is out there not being deployed. alix: and blackstone last week, the head of infrastructure saying it is a sellers market, not the buyer's market. david: a lot seeking properties and pri

investors devouring debt sold for blackstone's buyout, completing the largest leveraged buyout of 20188.8 billion portion of the offering exceeding $10 billion. joining me, jeffrey rosenberg, krishna memani and noelle corum. noelle, leverage loans have exploded this year. the demand is absolutely massive. where do you stand on the big debate in fixed income right now? noelle: we continue to like leveraged loans. we don't think demand is going anywhere. a lot of those flows are coming from the institutional side. those flows tend to be rather sticky. as long as u.s. growth is healthy and we expect it to be for several quarters, that will continue to support leverage loans. krishna: we agree. leverage loan market is being driven by a need for income in an environment where rates are rising. i think that gets you to the right point in terms of demand and supply. the overall -- the cred quality of the corporate sector is stable. it's not superlative, but it is stable, in our view. and the fact that loans are senior at this point in the cycle where credit spreads are relatively tight. i thi

they all have huge business over there, including blackstone. here's what we know.rstand this will be the first, i think it's on september 16th, the first of several meetings we cover with this group of wall street firms, blackstone, jpmorgan, the top firms, and chinese government officials. jamie dimon will not be at this meeting. the ceo of jpmorgan chase. i understand he has a schedule conflict and they will send two other senior executives. if i know jamie, he understands the optics of this. trump will go nuts on this. trish: lot of breaking news, and the bird has made an appearance once again. i thought this was some kind of les moonves thing but it was just to freak me out. i do appreciate that. >> you know, go smoke a joint. trish: oh, elon. we are talking about him next. >> you can talk about him. do you call it joints? trish: we got to go. real quick to the markets. down on 22, s&p up eight, nasdaq up 24. coming up next, we talk about apple. apple and tim cook, latest target of the pro-business president. stating it simply, chinese tariffs. we find out if b

>>she has been in custody for more than 15yes ago john blackstone is outside the prison in draper utah. >> reporter: after more than 15 years behind bars, 72-year-old wanda bars the is now a free woman. officials in utah say they have no legal right to keep her incarcerated after discovering they made a mistake calculating her sentence. >>she has served her time and we have to release her. >> reporter: in 2002 she helped her husband kidnap her 10-year- old elizabeth smart from her salt lake city home. smart told gayle king that barzee stood by as she was frequently sexually assaulted. >>she would sit right next to me, the site of her -- side of her body would be touching me. >> reporter: this comes six years earlier than smart expected because officials discovered they miscalculated her sentence. her attorney argues once she finished serving her federal sentence she did not need to serve additional time in state prison. >>we reviewed that with our legal counsel and we determined that we did have to give credit for that time spent in derastod under federal supervision for five years. he

blackstone's invitation home began buying properties six years ago andstow b a portfolio of more than 80,000 homes and close to 1,300 employees. >> i think it's a natural evolution in the space. much like the apartmentndustry the early 80s. if you look at the where we're at food in singleamily rentals it's still very early terms of what in space could be. >> the space was more crowded at the stock. big names likey col starwood american homes foreign and invitation homes bought tens of thousands of properties. but found it hard to manage so many on a large scale. any consolidated. and today just american homes and invitation remain. >> one of the barriers to entry is having the peoplees proce and systems in place that allow nto you create a efficient business model. that t tk timeo develop and get right. >> initialt that's why didn't think the business last. >> most people did believe that this -- this assets class was mo of a trade versus a viable business. and i would -- yes i would put in this surprised camp as well. >> it's easier after all to manage a multiunit apartment building

blackstone owns the remaining 20%.he versace family would reportedly remain involved, although unclear to what extent, and blackstone would exit. michael kors wants to become a global fashion group versace would help kors to get closer to those goals. for versace, there are benefits to being part of a bigger company. scale could improve the brand's reach, help the supply chain but kors shares are lower on the reports. shareholders are less than thrilled because the jimmy choo deal closed just 11 months ago and hasn't been fully integrated to the company plus the versace deal would be dilutive 30 to 40 cents. back to you. >> courtney reagan, thank you very much. we'll see what happens on this deal after that thumbs down from the market today it is interesting that a lot of these brands, kors and coach and now tapestry are going the european route >> that does it for "closing bell." "fast money" starts right now. >> live from the nasdaq market site overlooking times scare, i'm melissa lee. tonight on "fast" energy stocks

the global head of equity at blackstone.al estate, and buyer eggs's market. the economic backdrop, so powerful right now if we do we could do a 3% difference every year. i would think you could if you were a seller things are so good right now but if it's a sea change, you'd be a buyer and a seller >> we're always trying to invest when we have stabilized assets whether in real estate or private equity, we look to sell. if the markets are good, we have the benefit of controlling the sell we never are selling if the markets are bad. we look to sell our assets no matter where we are unless we're in a crisis. >> you remember guys seem to remember when to dump everything you never would do that? there's always a time to buy, always a time to sell? >> no, i mean, there are moments that we've been able to ride through. >> what do you mean? >> right now, i think we're end toward the end of the capital market market as well. with capital rates, pe multiples. i think we're later in the cycle but we still see good opportunities across

he gets fired for a big bet that goes the wrong way and goes into the comfortable arms of blackstone.isk is always so much in the back of his mind and never was that more important than over the last 10 years. annie: larry fink is a process of over risk. he had his own major loss when he was at first boston. in the 10 years of the financial crisis, the firm has become more cognizant and read about financial risk and looking at to their portfolios for white -- what they might not be seeing. blackrock cells risk analytics to other businesses, including insurers, tension funds, rival asset managers, and that business has taken off for them. it is called aladdin. it is not as big as etf's, but the size of the assets that this platform overseas was somewhere around the $7 trillion in 2000 eight. now it is responsible for $18 trillion worth of assets. it is enormous in terms of the scope and power of that platform. carol: when every warren buffett shares insights on the state of markets and the economy, it is definitely news. he shares them with our colleague, david westin. jason: here is s

for two point one billion dollars the announcement was made earlier today as part of the deal the blackstone equity firm or poorly will sell their twenty percent stake in versace to course for chorus the less glamorous but more visible and prevalent of the two brands the deals. follow ups follow up to the acquisition of luxury shoe maker jimmy choo core seem poised to leverage versace's prestige with their own market presence with a plan to increase the number of or saatchi store locations from two hundred all the way to three hundred versace's creative director who's known to be outspoken and right on target is donna tellers saatchi who took over twenty years ago for her brother was actually murdered she will reportedly continue her role after the merger ms vers saatchi who has led the fashion house for these two decades said the deal will allow over saatchi to reach its full potential and to hill here help us understand more about it is our in-house board fashion correspondent trinity chavez who joins us from our new york studio trinity thanks for joining us give us both the lowdown on bot

here's john blackstone. >> reporter: soon after 17-year-old caylee foster was crowned high school homeing queen in ocean springs, mississippi, she took off her tiara and put on helmet number 15. in the home coming game as place kicker, she scored two field goals. but the team needed more. with the game tie ed in overtime, it all depende >> it went in, it's like -- i see everyone is right there. nice group hug. >> reporter: the kick made her an instant star on social media and a whirlwind weekend she did a tv interview while getting made up for the home coming dance. >> i was just going out there to kick an extra point. >> reporter: caylee now a senior has been on the football team three years. but among home coming queens, she's not alone. nike's controversial new ad featuring colin kaepernick includes 18-year-old alicia which wi wilcot from michigan. >> don't settle for home coming queen and linebacker, do both. t chrazyam aftike calls the l. franstone,s, >> that is at overnight night for this tuesday. for some of you the news continues. for others check back later for morning." from

what does this mean for the traditional private equity players like blackrock -- sorry, blackstone, apolloy be worried? sachin: i don't think so. there is room for everyone. it is interesting. managers have large asset bases could be leading into this space, it is smart that they are doing so. vonnie: do you see a hole in the markets that will allow you to moneyt longer-term money, that can be locked up for a while and if so, where from? where do you hope to attract money from? sachin: we are a family office. vonnie: but you do not intend to stay that way. sachin: our kind of strategy could be applicable to others looking to generate wealth through generations. it is early days. right now the focus is on maintaining performance. vonnie: can you give us insight as to what success you have had so far? you had a 30% return. anything you can eyeballs? -- you can divulge. sachin: we are looking to generate singles and doubles, and the occasional homerun. i cannot tell you the names. sectors we found attractive, financials, insurance, some technology, some areas of telecom. it is diversified. yo

john blackstone sat in on a class. >> reporter: school buses are almost the only thing about education changed in wilder, idaho. students here spend much of their timerning to use 3-d printer, studying robotics, or creating animated movies. >> quiet on set. >> reporter: using the same technology as hollywood studios. >> double tap it. >> reporter: instead of everyone learning the same subject at the same time, at wilder, each student is working on a different subject using their individual ipads. reading, writing, arithmetic, it's all going on. >> everything is going on, yes. >> reporter: every student studies independently, but always watched closely by their teacher, as wyatt craft knows well. and the teacher can always tell what you're doing? >> she is like a hawk. >> reporter: in this class, that hawk is sixth grade teacher stephanie bower, who uses her ipad to monitor everything every student in her class is doing. those who learned in a traditional classroom often thought teachers have eyes in the back of her head. you really do. >> i do. i can see if a student is answering too f

with the plans, that blackstone was set to raise billion, its biggest ever real estate fund.n in 2015, so they obviously see some potential there, assuming that this fund does come through. of folks are willing to take bets, even when interest rates are rising because it does provide a little bit of an inflation hedge if done right. etf ould also point out flows into some of the main real estate etfs, they are actually well, for the third straight month. a reversal from five straight outflows that we saw at the of the year, so quite a little story here in the real estate sector that we should robably keep an eye on as we get forward into the week. caroline. thank you and our entire markets team. more news.o >> officials with the national weather service and the federal agency warnnagement residents in the carolinas that hurricane florence remains a a eat despite downgrading to category one. florence made landfall this morning near wrightsville beach, north carolina. as a category one. and it's now carrying maximum winds of about 80 miles per hour. more than half a million peo

john blackstone reveals how it's making it possible for one di kindergartner to perform at her best.ams is thriving in kindergart kindergarten. >> she's playing. she knows her colors and letters. >> reporter: brooke's success comes in spite of a debilitating medical system, a form of epilepsy that causes violent seiziers that her family captured on video. >> her seizures would last for hours. >> reporter: no medication worked, until they tried an oil derived from marijuana. >> we tried thc, but that's what her body needs. >> when it came time for brooke to go to kindergarten, the school district put up a roadblock. >> our concerns were from state and federal government levels. and having her medication on campus. >> it's a few drops that we put in her mouth. >> reporter: while california is 1 of 31 states that's legalized marn marijuana, it's not one of the 3 states to allow medical marijuana on a school campus. why couldn't the school district say, you can't have this medication in school? >> the school district took the position that california state law and federal law prohibited

john blackstone introduces us to a family going above and beyond the call of duty. >> i like that. >>whitten already had a full house. you had a family. >> yes. >> reporter: a complete family. didn't need to add anybody to it. weren't planning on adding anybody to it. >> right. >> right. >> reporter: why? >> i think it's when you see a need, you just need to show up, and that's what parenthood and our experience is anyway. >> reporter: as a ten-year veteran of the santa rosa police department, jesse befriended a pregnant, homeless woman with a drug addiction whom he frequently ran into while on patrol. >> i was trying to get her -- there were times i got her shelter at different locations. sometimes she would take me up on it and sometimes she wouldn't. >> reporter: then, his wife met her on a ride-along last august. >> her and i got to talking and she was very obviously pregnant, and so i said, oh, you're pregnant. and she grabbed my hand and she put it on her stomach. and i had no idea that a year later the baby i was feeling in her womb would be our daughter. >> reporter: in februa

for "cbs this morning," john blackstone, wilder, idaho. >> such a smart series we're doing.out what what's work -- what's working in school districts. do more positive stories. people doing great work. >> a smart series we're doing and smart what they're doing there. i loved mrs. bauer, the how come. you do feel the teacher has eyes in the back of her head. it makes sense that you would individual lies personal attention for kids -- individualize personal attention for kids. >> if they never get a first spark, it's hard. >> uh-huh. >> i never sparked in algebra, john. >> that's okay. you're like a sparkler in so many other ways. >> i never sparked in algebra. >>> on today's "cbs this morning" podcast, we'll talk to the associate ed order to behind "popular mechanics guide to safer schools." we'll learn how when it comes to school security one size does not fit all. hear why experts discourage the use of metal detectors and encourage high-tech solutions like tip lines. catch the podcast on apple's app and wherever you download your podcast apps. >>> and a story of agents who

i'll sit down with blackstone investment president jon gray.be right back >>> despite resigning as ceo, lesly moonves is the beneficiary of some perks from cbs the hollywood reporter says moonves' office space and security detail remain on the network's dime meantime, in his "new york times" column jim stewart says the cbs board may still be on the hook for severance of $120 million to mr. moonves jim joins us now post nine to explain. you've been on it, you're still on this story. i love it. many people thought okay, there's no way he'll see that money at the end of this investigation, jim because it will prove he did, in fact, do these things but you point to something a bit different in terms of what has to be proven. >> exactly it's kind of mind-boggling that under the circumstances you would pay somebody this kind of money given there have been 12 women that came forward but you look at ceo contracts, they were carefully written and he gets that money unless he's fired for cause. cause doesn't mean allegations of sexual misconduct, it refe

blackstone and carlyle group are among those interested in buying nielsen.omberg has learned the private equity firms may submit bids for the company. nielsen has come under pressure from activist investors. the firm acquired a stake in the company and is encouraging a sale. hathawayago, berkshire agreed to buy a 25% stake in chinese carmaker byd. the investment has soared more than 500% since then and is worth roughly $1.6 million right now. it is the end of the era at mercedes-benz parent dialer. longtime ceo dieter zetsche is stepping down two years early after being in office since 2006. he'll be replaced next year for the first ever non-german to lead dialer. he. c numeral development for the company. dieter zetsche has come under fire from regulators over diesel emissions. thank you. all eyes are on fed chair jerome powell as they are expected to raise rates today but the trade conversation still percolating. this is what michael bloomberg said earlier. have that yet. anyways, we are joined by michael mckee. by luke,.o joined we have that sounded now.

. >> we will hear more about this record rally with blackstone president jonathan gray.with cnbc today at 1:00 p.m. eastern time. what do they think about this rally? we'll find out >>> in the sports world, maybe the unthinkable has happened the cleveland browns won their first game in 635 days you're welcome, courtney reagan. they were down at halftime tyrod taylor, great quarterback, he got hurt. baker mayfield, their first round pick comes in. they do the cleveland surprise a little trickery. he catches the pass for the comeback win the baker mayfield saga, i guess, scenario, era has officially begun in cleveland. that leads us to the top trending stories courtney reagan, miss ohio, do you have any browns fans in your family >> my brothers >> you like ohio state which drives me nuts because i love you so much, but i can't buy the ohio state thing >> you understand being a fan. >> but ohio state could beat cleveland. >> they could. but my brother is a huge browns fan. he and his sons have to be happy. >> is that the family i met in dayton >> that's right. >> beautiful