brian levitt, where are you now at oppenheimer funds on retail? , is that what you of done? brian: the valuations are certainly compelling -- tom: i'll say. brian: but i think you have to be careful. there are certain business models that are increasingly looking passe and the markets are taking them to task. i think that investors should not assume, to your point, that chief valuations necessarily mean good entry point. tom: i want to get out in front of our next box, marty schenker will join us from washington as the president tweets -- what i was against our heated tweets this morning. ask ceos has just published "trump's friend several months of self-destruction." will we see action or do we drag this into the end of august? stan: i don't know what you mean by action. tom: resignations. stan: not resignations, yet, but you will see movement away from the president. that's a big story with the ceo movement the last couple of days. i had to be close to the president early on and now they are saying it's important to have distance. others will tak

also with us are walter todd and brian levitt. that is the gdp read at 3%. starting to roll over, and i think we can thank a trump tweet for that, earlier the u.s. has been talking to north korea and paying them extortion money for 25 years. talking is not the answer." we learned yesterday that geopolitical risk might not matter. what do you do today? want toou might downplay some of that geopolitical risk. we found that every generation faces challenges, and the markets generally go up as long as the economy is improving and the federal reserve is not significantly type. those two components still exist. it is a reasonably good environment for risk asset given that growth is strong enough to support corporate earnings, not just across the board but in general. to her prior comments, we do not see the wage growth for significant inflation, so the fed is going to remain accommodative. if we try to make decision based -- a decision based on joe political risk, most investors will never be -- geopolitical risk, most investors will never be in the market. we nee