mark: international cio fixed ,ncome cio, nicholas gartside thank you.e: more great stuff, greg fleming joins us. what does he say about derek jeter and his purchase of the marlins, among other subjects. this is bloomberg. ♪ vonnie: live, from bloomberg world headquarters in new york, i'm vonnie quinn. mark: live from the european headquarters in the city of london, i'm mark barton. the european close, six minutes away. time for a look at some of the biggest business stories in the news right now. a big transaction in the health care industry today. humana, tpg, welsh carp, they have agreed to buy injured health care for $1.1 million in cash. humana will get home health and services units. the private equity firms will take over the company's hospitals and rehab facilities. grignard, the belgian food distributor, and talks to purchase dole food's. they havey saying secured appropriate financing. dole maybe valued at $2.3 billion, including debt. global management is getting into the mexican food is this. they have agreed to buy could delve a from "jack-i

. >> and that concludes the cio report. >> okay. any questions from the board? commissioner? >> just a request. when the exposure chart is readable, please send me a copy. >> okay. >> i believe that -- well, we will. we will. >> are there any members of the public that would like to address the commission on this topic? seeing one, mr. perlin -- mr. stecil. >> i would just like to say, you only need four asset classes: stocks, real estates, stocks, bonds. they are the only four assets that you need, and they've done very well in the past 100 years. why do you want to put money in a hedge fund. why do you think people like warren bust have 100 million in cash and no hedge funds? because he knows the stock market is going to drop, probably 20% next year, and he's got 100 billion in cash, and that's what we should do, go into a billion dollars in cash, rather than hedge funds, because you're going to lose your money, whether the stock market goes up or the stock market goes down. >> up or down, only two. i notice there are only two items here mentioned that are natural resource.

didier duret, abn amro's private banking cio still with us on set.he road the funding story in the united states. baker picture, how significant is the tax story for you in the u.s.? is a big deal, but it will lead to dollar strength next year. the fed will be about to move higher, inflation is coming. what inflation story are you telling at the moment? didier: there is a cyclical inflation coming out, but not dramatic. the curve is pretty broken in the u.s.. it is not the case in europe. you have very low unemployment in the u.s., very little foritivity to the tension inflation. what is important for inflation is not so much the weight, but really the unit level cost. that is where inflation is for capitalanies and expenditure is growing, so i think it is very solid. from that perspective, it will tame the pressure on inflation. anna: to what extent are you looking to protect yourself from inflation? this is the outperformance of treasuries, we saw that in yesterday's session. they are a proxy for government safe bonds and if you were to buy some fo

she's preparing to cio for his big race.the right accessories for his main are vital says her mother dorothy . thought at the end of it all here but to get a huge steed with pink rosettes reminiscent of hello kitty and cherry blossoms. we women aren't usually involved directly with the horses or the training. we all eat together and we cook we help keep the stables clean. up above all that we try to support our men at work as best we can. or study. or stand as an actor. in my the coach doesn't reveal whether he's happy with the grooming or not shortly before the race he has other concerns. and they're very good morning and welcome to our ice fishing competition fourteen's are taking part with two fisherman each about to start watching the sporting spirit is also strong among the icy expanses of lake on a guy in california the local event agency is hosting a fishing competition there are prizes for catching the smallest the largest and the first fish. and today coco name is up for the challenge. which though in the middle of

>> the 500,000 americans are members of trade -- at one time the communists were strong in the cio and then they started playing politics. they were thrown out of the union. they don't deserve the credit. >> we are going to dismiss that one, too. don't you think that the organized conspiracies of american stalinism with 43,000 fanatics represents a threat to american civil liberties? mr. hays: no. i do not. i think all those people under areeillance by the fbi potential fifth columnists, but i do not think they are potential spies. i trust the fbi and i trust the law. what you are telling me is we have the right to violate the laws of decency as well as the laws on the statute books in order to get communists. what you are saying is a totalitarian government would be safer than a democratic government. >> i want to say, i am for decency. i want to make that clear. >> i thought you are. i buy your argument wasn't sound. >> you are both for decency, but let's go back to the state department. don't you think that senator mccarthy's message might be justified and the house un-american acti

i my ok i still have to cut the apples and grapes from my cio putting up with being minimal see ya later bye for now. more than four thousand five hundred people have just watched louise adela much of her life takes place online the same goes for her boyfriend. they've both made names for themselves as fitness bloggers demonstrating workouts on the internet. she has nearly seventy thousand followers on instagram they're both influencers companies are exploiting their reach by placing their products in the hands of social media personalities a luxury lifestyle in exchange for advertising and product placement and constant public attention. by the first the two of us are going to go for a run and lose goal is to rock this thing in under two hours. that's missing. sorry but people don't know what you mean by this thing half marathon yeah excuse me. ok so now we're going to start running but i just looked into the camera see if that was ok. but it was up to then a frost is also an influencer more than fifty thousand users follow her day to day life it's a full time job and how much you make

patrick armstrong is the cio of paris wealth. -- of the rini wealth.ocks, 14 straight months of gains. undoubtedly asia took the trophy. that is how we started the show. jeopardy stocks back in the 1990. asia, technology drove it higher. bang for my buck in equities, 2018? magical i don't think you are going to get much. patrick: i don't think you are going to get much. exuberance toreme moderate exuberance. 75th percentile multiples. we're looking at a sympathetic decline on u.s. equities, very small gains in europe, little bit in japan and asia. ,ince u.s. is the biggest leaves nothing for the year. resurrection, which rose to versus russia. you brought a cracking function to my attention. it is the vtr. -- it is wti. peaches curve is where we are now. thinking.rough your this is a significant move. patrick: it is shocking. if you ask what happened to oil prices, they look at the green line versus the orange line. you've got a 50% rally. if you look at 2020, oil prices are down 15%. people are bit perplexed why oil and gas were such a poor former --

have targeted this location well that it's quite obvious that the extremists from i guess the talking cio because they think they're not real muslims the infidels and this is a view which is shared by a lot of other sunni extremists and it brings us to an interesting twist of the story an afghan expert told us that there really target was not the shia community but the polygon because as and taliban they're both fighting over there are legions of this sunni extremists and in the past as conducted a lot of attacks a good ship community in the intention to get this the extras on their side all right what can you tell us about the presence of i.a.s. in afghanistan how big of a threat is that group now. well that is a very touchy issue in question because. the real numbers around thirty thaws the insurgents in afghanistan according to sources in afghanistan and the people who say like russian media that ten thousand s. supporters in afghanistan i don't believe his numbers the reality is that as operating in very small pockets in the east of afghanistan and recently old siddha north of afghani

es un cio migratorio que otorgÓ el congreso en 1990.erno extenrÁ la validede lo hasta el 4 de julio de 2018. los beneficiarios deben seguir igual el proceso. >> obviamente estamos viendo que la administraciÓn quiere reducir la cantidad de inmigrantes en este paÍs. incluyendo, los que hasta esta hora han tenido autorizaciÓn de empleo. los que han tenido de tps. pablo: el propio gobierno recomienda que se vayan preparando para regresar a sus paÍses en caso de que se cancele su programa. locutora: rubÉn kihuen, enfrenta cargos de abuso sexual. se suma a otros demÓcratas y a los republicanos que tambiÉn fueron]ç acu no se presentarÁn a elecciones tras acusaciones similares. un helicÓptero de la fuerza aÉrea de hondus se estrellÓ hoy. los seis ocupantes murieron calcinados. entre ellos la ingeniera hilda hernÁndez. hermana del presidente orlando hernÁndez. claudia mendoza tiene los detalles de este trÁgico accidente. claudia: se esperaba que este helicÓptero llegara unos minutos a su destino. eso nunca ocurriÓ. pilar nantes y cin personas mÁ

forward to meeting our female to miners this used to be a hospital but now it houses the norwegian then cio that started to mind operations and twenty fifteen at the request of the government. it was four am potential mine field there are sixteen the miners since hopeful who are split into two teams four of them after an ambulance all security. also a lot of us. want our one. on one. and harry. back in the camps three hundred thirty kilometers away above us parents can't wait for her to come home safe and sound works for nine weeks at a time and they spend every one of them boring about her. not camilla would commit to another. one the some recent girl to start with method with the. logic of the bravado counselor. without either somehow let's call it the most so all of that. will go and sell all of. the money of cultural so it will. come back a modern system. has its own reward i'll agree with. a similar thought on what i still can't tell how to . construct all. this talk a little when. it's not i don't know who it's all good i'm back again. and for that i'm going to move in their shadows.

he is the managing director, cio, and head of investment. is up next.overnment forecasts and never -- narrower budget, but we speak with scott morrison to flesh it this is bloomberg. ♪ out and get to the bones. that is next. this is bloomberg. ♪ ♪ yousef: this is "bloomberg markets: middle east." andre live on bloomberg tv radio. embraer -- i am yousef gamal el-din. a power outage it atlantis airport has forced airlines to cancel thousands of flights. the fire may said have caused extensive damage in an underground facility. its first cared and is undercutting tesla. columbusrange of 500 and sells for $68,000. the model x is $126,000. nio raise more than $1 billion from investors recently. spacex has completed its supply trip to the international space station on friday using a previously flown falcon rocket. it is the first time spacex has used a recycled rocket to fly a reused -- recycled capsule. that is your bloomberg business flash. let's talk about the ninth china-u.k. economic and financial dialogue that has wrapped up this weekend was some rewar

drive them or looking forward to meeting our female to minors this used to be is the norwegian then cio that started to mind operations and twenty fifteen at the request of the government. it was four am and we were headed out to a potential minefield to see how it's done there sixteen of them i know since hotel who are split into two teams four of them are girls there's almost a doctor in an ambulance on standby. i was curious to see how the girls would cope where nine kilos in the desert heat. of the day it's allow me. to walk. so i can watch that. they have a. sad. song after. all about an. american a lot of a chance only that. i didn't. care if martha back in the camps three hundred thirty kilometers away above us parents can't wait for her to come home safe and sound works for nine weeks at a time and they spend every one of them boring about her. in the film. method was just a. fluke. that either somehow woman. will go and sell. the system. that's what a lot of them were. and so so for a similar thought on what's a couple how do almost all. american shall not. be. talk about a man

forward to meeting our female to miners this used to be a hospital but now it houses the norwegian then cio that started the modern operations in twenty fifteen at the request of the government. it was four am and we were headed out to a potential mine field to see how it's done there are six things the miners since hotel who are split into two teams four of them are girls there's always a doctor in an ambulance on standby i was curious to see how the girls would cope vast so in the desert heat. of the day. and how. they can have a. sad sad also lot about stats even after. the end all about an. american a lot of. the incentive. maybe. one. on one by the. parents not the back in the camps three hundred thirty kilometers away above us parents can't wait for her to come home safe and sound works for nine weeks at a time and they spend every one of them foreign about her. would commit another. method was just a. fluke. that all the other somehow a woman was going to tell us so on it. will go. to the mother of course all of us so once i lose she come back a. little. that's what a lot of what. me

forward to meeting our female to minors this used to be a hospital but now it houses the norwegian then cio that starts a demining operation since once fifteen at the request of the government. it was four am in. we're headed now to a potential minefield to see how it's done there sixteen of the miners in total who are split into two teams four of them are girls there's almost a doctor in an ambulance on standby i was curious to see how the girls would cope. in the desert heat. only mad. and how. they have a. lot about stats given time that even. if at the end all about an. american a lot of that. meant . by the. hair. back in the camps three hundred thirty kilometers away above us parents can't wait for her to come home safe and sound works for nine weeks at a time and they spend every one of them foreign about her. when the. method was just a. fluke. that either somehow woman. this little girl. and also i don't want to silence you come back a modern systems. are a little. modern. converse in a while and that's what a lot of what and so so for a film was on the last of couple how to last a

forward to meeting our female to minors this used to be a hospital but now it houses the norwegian then cio that started to mind operations in twenty fifteen at the request of the government. it was four am and we were headed out to a potential mine field to see how it's done there sixteen of the miners since holed soul who are split into two teams four of them are girls there's almost a doctor in an ambulance on standby i was curious to see how the girls would cope vast some of the desert heat. only mad. so i can watch that. they have a. lot of us. even after. all about an. american a lot of a chance only that. one . on one. hertz matter back in the camps three hundred thirty kilometers away parents can't wait for her to come home safe and sound works for nine weeks at a time and they spend every one of them boring about her. when the some. method was just a. fluke. somehow woman was one of the most sought. after. this will go on cell. phone. system. that's what a lot of them with. a similar thought on. how to run off the top of. wolf talk about a man. who will get on by again. without any

of trading futures contracts for march 2018 were quoted at $18,110 with volume again low the ceo and cio of tatton investment management joins us it's fascinating this conversation about bitcoin i came in this morning and was disappointed bitcoin was only down 3%. we're used to the double digit swings how are you thinking about cryptocurrencies here and whether you see the full potential and is it something that will stay with us or just a craze and a tulip bubble as many critics in the market have been calling it >> i think the pricing that we see in the cryptocurrencies is certainly looking very much like a bubble not very real and here to stay we've seen it before in 2013 let's not forget back then the currency went up 100 fold. so far it's gone up 16 fold this year so, could go higher. who knows. you can't value it that looks like it what we're more interested in is the underlying technology, so blockchain our concern is people buying into bitcoin think they're investing into blockchain which is something different >> we're seeing many non-institutional clients and businesses are loo

forward to meeting our female to minors this used to be a hospital but now it houses the norwegian then cio that started to mind operations and twenty fifteen at the request of the government. it was four am and we were had. now to a potential minefield to see how it's done there are sixty of the miners in total who are split into two teams a lot of them are girls there's almost a doctor in an ambulance on standby i was curious to see how the girls would cope where nine in the desert heat. to your mad. to walk. and how. they have a. sad sad sad sad even after that it will mean. the end. of an. american a lot of a chance only that. one . hair. back in the camps three hundred thirty kilometers away parents can't wait for her to come home safe and sound works for nine weeks at a time and they spend every one of them boring about her. when the. method was just a. fluke. somehow woman was one of them so on it. will go. on. when salim should come back a modern systems. are a little. modern. that's what a lot of them worked on since zero four a similar thought on the last of couple how to last a c

david: darrell cronk, wells fargo investment institute president and cio.the housing market in the united states. ♪ retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. ♪ >> welcome back to "bloomberg daybreak." i want to get you back to where markets are trading. you are looking at the stoxx 600 0.02 percent. the nasdaq has actually reversed. it had been gaining ahead of the session. s&p futures have been up 0.1%. that is where we stack up for the day. david: we have some breaking news. we have housing numbers. they have surprised to the upside. 1297. the median was 1250. october was quite robust. november comes in better than expected. octobermainly in multiple family dwellings, apa

] narrator: that evening, before a national television audience and 2500 union delegates at the afl-ciodent presented some dominant themes in 1968. citing the mass legislation expected from congress since he took office, he made a spirited appeal for the passage of other needed programs and defended his policies in vietnam. and called on labor to avoid a wage price spiral. he called republicans in congress "the wooden soldiers of the status quo." >> [applause] narrator: despite what one critic called the unjust hyperbole of his attack on republicans, the president would claim with considerable accuracy that the majority of bills enacted in the past four years had grown from administration proposals. >> it wasn't easy, every step of the way. there were voices and votes that said, no, not so fast. it is only a rehash. it cost too much money. don't you know there is a war on, and you have to stop progress at home? i have heard them all. together, we have answered them all. ♪ narrator: the 90th congress's first session reflected tensions over vietnam and the urban crises. but the machinery

none of them have come up to the cio technology part of the company and that makes him unique.: talk to us about his background. he has been with goldman for some time. >> he joined them in their commodities as this as many of the leaders, surprise, surprise. coming upays been through their strats business, which is their engineers. they were the first at sitting the engineers next to the traders and having engineers design algorithms or models through spreadsheets. goldman was doing that years before much of wall street and that was largely led by marty. talk about the interactions he had with the chief accounting officer and the importance of data and analysis and the ease of which he wanted to read that. he didn't want to ask questions. >> if you talk to cfos across wall street, they will say, i don't know that answer or i just sat through three days of briefing to get ready for our 10-q and the head of latin america told me this. marty doesn't want to do that anymore. he wants an ipad that has a dashboard on it so he knows continuously real-time what the latin america busin

paul: i have a co-ceo and co-cio, chief investment officer. name is john pollock, and he has been with me since 1989. in that time, we have more than just complete each other sentences. the founding impulse of the hedge fund idea is independence of thinking. it is the opposite of investing by committee. and the earliest hedge fund folks of course were by themselves. they were sort of privateers in the world of investment oceans. -- world of investment notions. i never thought that the craft would be susceptible to an organizational approach, a team approach. i actually never really thought i would be able to be a good manager and a good team leader. the way it actually works is a layered process by which we attempt to train people to accept responsibility to deliver trustworthy insights, inputs, to have done the work, to have commissioned the work, but john or i generally approve every meaningful position, and certainly every -- we have deep discussions about every large position. david: you have an image though of being a person that strikes

retirement saving for education and instead just benefits big business i think the democrats can run on this cio tax g.o.p. tax bill going into twenty eighteen bill. you know i could not have said it better myself congressman i think larry the republicans will rue the day that they passed this tax bill in twenty eighteen because i think the american people will wake up and discover most of the america the ninety nine percent and david jolly is right the the trump voters trump base will wake up and realize that they're the victims i think of a giant scam they may get a tiny little tax break may for like a couple of years and then that's going to disappear but the big tax breaks for the wealthiest of americans and for the big corporations will remain and then i think you know we're going to have this deficit add to the deficit of a trillion a trillion and a half dollars and i so i think round this is only round one round two where republicans are going to next year say oh we've got this big deficit we've got to cut spending meaning we've got to cut social security medicare and medicaid to make up

steve davis, cio and founder.lon musk said he will be turning out model three by the thousands by now. he remains some way away from his goal. ♪ rishaad: this is bloomberg markets. musk says his long-awaited model three is still parked in what he is calling production hell. covers -- has a neutral rating saying the production line is the problem, but things may improve. >> now they are trying to plan our to 5000 cars by the in -- 5000 cars a week by the end of the first quarter. they were supposed to be there by now in december. so far they have produced 280 model threes since introduction in july, so they are behind. >> a lot behind, i would say. up to 5000 cars a week by the end of december. >> what is the issue, is that the battery, or what is it? >> the issue is the whole production line. as elon musk has set, the production supply line all he moves as fast as their slowest supplier. yes said many times he has been living in production hell. >> is anything materially going to change in the next three months to

investors are happy with low hanging fruit approach according to john woods, cio for asia-pacific andredit suisse. he says it is spurring demand and that is why we are seeing it again -- seeking a game. -- seeing a gain. this is the msci emerging markets index, below the 100 day moving average for the first time since january. the move lower has been led by the general rotation out of technology stocks which makes up the biggest proportion of the index. we are talking about rotation once again. 90 minutes into the trading day in the u.s. abigail: it is looking a bit choppy. we are looking at gains right now, very small for the dow, s&p and the nasdaq. three major averages whipping between small gains and losses. major averages in recent sessions reversing lower at the end of the day. sometimes that is considered to be bearish. volatility tends to bring more volatility and where we continue to have volatility is for the chip factor. down about 3/10 of 1%. putting up a small gain, yesterday but still lots of uncertainty about those building blocks for technology. let's look at a longer-

as we have moved from computing to the internet, all of these decisions were made by the cio. these digital transformations are driven by the ceo. i took a page out of evolutionary biology. if you look at the early editions of the origins of species, darwin thought that speciation of the planet what have a continuous function. constantly --t >> right. >> it wasn't until this century that evolutionary biologists said that it did not happen this way. speciation was not a continuous process. ofre is this concept punctuated equilibrium. 400g back, even in the last years, we have had six mass extinction events. when therecent being meteor hit the earth. this massave extinction event, you have a massive speciation. that is good for us. on inike what is going the corporate world. since 2000, 50 2% of the fortune 500 companies have disappeared -- 52% of the fortune 500 companies have disappeared. some have gone away through and runs -- have gone away because of fraud. hewlett-packard or maybe ibm is next, who knows. then you have what you talk about everyday on the show, is this mass

we engaged with federal cios across the government to ensure our systems were not vulnerable. i asked for assistance from our partners in the it and cyber security industry and by 9:00 p.m. that night i had over 30 companies represented on call, many who offered analytical assistance rough weekend. by working closely with these companies in the fbi throughout that night we were able to issue a technical alert publicly that would assist offenders to assist in defeating this malware. we were largely able to escape the impact that other countries experience. in many ways it was the defining moment. it was also inspiring. it demonstrated the tireless commitment of our industry partners, a moment that showed how the public and private sector got right. it was keeping our system up-to-date. we are seeing increased activities and sophistication from both nationstates and state actors in many instances these are the same adversaries we faced in the past. they are just now operating in a different space. most devices are connecting to the internet which broadens the threat landscape. t

they were a cio here. thank. you. for how did they act waited in custody. unsure whether she returned home to. be sent to great to be tried. but what happened something. the citizens of sarajevo mounted a campaign to bring back her. economy. to eat. sleep. play. the right to study by saying good for the fighters call it walk in the. modern age this is their lives. and they always had some security you will see that there's lots of cars a mason tree. the diary he kept during those days in custody became his way of dealing with his loyalty and longing for sarajevo. while. the. book does. he that is and it was a. book. produce for him it will. now be some disturbing force them to present or not because the method you know i mean dogs is either cobol would up the. door didn't look awful good i. meant they wanted or the same number as was done but up. next the but. the best is that for the subject right person i was pretty iffy about doing this the puppy just read the. book you know but what she put up those. are. off to months in custody the campaign to free hi

the internet, all of these decisions were made by the cio.ransformations are driven by the ceo. i was trying to figure out what this is about. it is massively disruptive. i took a page out of evolutionary biology. if you look at early editions of the origin of species, darwin thought it would have a continuous function that took as a continuous function -- everything constantly then it wasn't until this -- it didn't happen this way. it wasn't a continuous process because of darwin could not explain the gaps in the fossil record. what goal describes is this punctuated equilibrium. he says going back even the last 400 million years, a relatively short time in the history of the lannett, we have had six mass extinction events, the last being 65 million years ago and 85% of the species on earth disappeared, including the dinosaurs. then after we have this mass extinction event, mass speciation, which is good for us because the mammals fill the space, look at the corporate world. fortune00, 50 2% of the 500 -- 52% of the fortune 500 companies have

mainframe computing to personal computing to the internet, all of these decisions were made by the ciot. >> now these digital transformations are driven by the ceo. attractive figure but was -- i tried to figure out what this was all about because it is massively disruption. i took a page out of evolutionary biology. if you look at the early additions of the "origins of species", darwin thought that speciation of the planet would have a continuous function. everything just constantly -- cory: right. >> it wasn't until this century that evolutionary biologists said that it did not happen this way. speciation was not a continuous process. drama and explain the gaps in the fossil records. -- darwin could not explain the gaps in the fossil records. going back, even in the last 400 years, we have had 6 mass extinction events. the most recent being when the meteor hit the earth. 85% of the species on earth disappeared, including the dinosaurs. after we have this mass extinction event, you have a massive speciation. case, it was good for us because mammals filled the space. it's like what is

mainframe computing to personal computing to the internet, all of these decisions were made by the ciotal print for mission being driven by the ceo. nows starting to pick -- all these decisions are being driven by the ceo. if you look at "the origin of species," darwin thought speciation of the planet was a function, that everything is constantly moving. but it wasn't until this century that evolutionary biologists figure out it didn't happen this way. it wasn't a continuous process. darwin could not explain the gaps in the fossil record. what stephen gold describes is this process of punctuated equilibrium. going back even the last 400 million years, relatively short period of time in the history of the planet, we have had sixth mass extinction events, the most recent being 65 million years , and thethe meteor hit neglect 85% of species on earth disappeared, including the dinosaurs. after we have this mass extension event, you have a mass speciation, which in that case was good for us because the mammals filled space that the dinosaurs had. now look at what is going on in the corporat

>> new york cio, not really. our workers.hey were not taking a stand we are focused more on automation and improving on people >> in a broader sense as a businessman here are you worried of california being less competitive because of the pressure? >> i think it depends on where you live for us, we live in central valley, the cost here is quite aly less from what you hear in los angeles and san diego. here we have moderate prices for houses we don't have a high property tax. i think we are a bit different. >> quickly, you said automation is the key you are not hiring as many people as you have before? >> no, we had 150 people we are looking to add moranothe 50, doing the same amount of work that we have of 150 with that and what's really great about this is we'll train them they are hard workers and they'll go from being a skilled worker and their wage wills reflect that >> reporter: johnny, the ceo of nicinitiative foods'. thank you very much. >> tillman's taxes is one part of the puzzle in determines business costs you do b

none of them have come up to the cio technology part of the company and that makes him unique.: talk to us about his background. he has been with goldman for some time. >> he has. and theirgoldman commodities business, as many of the leaders, surprise, surprise. he has always been -- eat came up through their strats business, which is their engineers. goldman was first on wall street at sitting the engineers next to the traders and having engineers design algorithms or models through spreadsheets. goldman was doing that years before much of wall street and that was largely led by marty. julia: you talk about the interactions he had with the chief accounting officer and the importance of data and analysis and the ease of which he wanted to read that. he didn't want to ask questions. talk about that. >> it is interesting. if you talk to cfo's across wall street, they will say, i don't know that answer or i just sat through three days of briefing to get ready for our 10-q and the head of latin america told me this. and are headed asia told me this. -- head of asia told me this. ma

i was trying to figure out why these things were driven by the cio rather than the ceo.age out evolution. darwin thought that the evolution of the planet was a continuous function. were thinking in the military technology business, continuous function and everything is constantly -- it wasn't even until this century that evolutionary balance -- it didn't happen this not apeciation was continuous process because darwin cannot explain the gaps in the fossil record. was steve engle describes is this concept of peng shuai to equilibrium. he says going back even the last 400 million years which is in history ofrt the planet, we had six mass extinction events, the most recent being 65 million years ago when that meteor hit as other like 85% of the species on earth disappeared, including the dinosaurs so after we had this massive extension of that, we have the mass speciation which was good for us because the memos filled the space. let's go ahead in the corporate world, since 2000, 50 2% of the fortune 500 copies have disappeared. they have merged and gone bankrupt. >> i canno

people's united wealth management cio john trainer with us.thing has gone nuts lately. >> it is incredible, incredible, absolutely. remind me of 1999 with nasdaq all over again. liz: we know what happened in 2000 and 2001. that was a big crash. what do you expect for bitcoin? do you think the dow hits 30,000 before bitcoin does? >> we think about it coin 30,000 but again clients need to be aware. i was making a presentation to clients in new hampshire. bitcoin came up. we talked about it as speculation rather than investment. we talked about 1999. internet is great, cryptocurrencies are great but you have to pay attention to the underlying price of that investment. we think about it coin is little head of itself the and it could to higher. liz: what drives it. dow, 24,000, we're certainly above it, 24,313 another record on track. up 23% so far this year. do you predict any kind of correction? >> no, we're actually very positive. this morning's employment report confirms the goldilocks economy. we're accelerating, doing a good job. we're not se

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he is the cio at cross bridge capital.is there, apart from your colleagues talking about bitcoin? how much interest is there in bitcoin? how much of a debate is there on the real value of bitcoin? i've seen everybody talk about it as worth nothing through millions. how valuable is bitcoin to you? fundamentally, there's lots of interest. i've failed to be in a meeting in which i haven't heard questions about bitcoin and blockchain. i think fundamentally there's very deep interest. in terms of value, that is a separate question. one has to separate the price which bitcoin is trading at to the level of underlying transactions. trading has gone up by a multiple. there is a fundamental imbalance between demand and supply for bitcoin and perhaps between interest and reflectivity as well. interest is an area of , but at this point we are -- manus: pierre bose, head of european strategy at credit suisse. manish singh, a short bitcoin? manish: neither. i don't hold a position on this. if you have doubt about investments, you don't

global cio of deutsche bank wealth management.xt, we speak to the italian about his new design headquarters. this is bloomberg. ♪ mark: you are watching "bloomberg surveillance." lapo elkann is the chairman and founder of lifestyle brand italian independent group and customs.alia last month he unveiled the new headquarters. for those wanting something different, the company says it is where dreams come true. the grandson of the former executive, he entered the hall of fame in 2013. he built a board of directors for a number of firms. he's with me today. good morning. tell us about this new headquarters. is it as fancy as ours? lapo: yours is extremely fancy, extremely elegant, and beautifully done. icon that arited an great man had done in the 50's as the gas station of the future. worked on refurbishing it, on bringing it to life. we were very lucky because it was a place where we had a lot of energy and great memos. we want to bring these energy and memories to the era of today. italy is shiny. italy is rising. italy, for italy,

looking forward to next year and talking to a lot of cios, we feel very confident there's going to beed spending going into cloud adoption, so we certainly think that's going to be good for our business we have two pieces of the business our other piece of the business is having much lower prices than microsoft or oracle. in more difficult or tighter times we focus on value. in faster growing times we talk about innovation in the new segment. that's allowed us to have over 0 quarters of continuous revenue growth so we feel like we're pretty durable in either economic scenario. >> you have said your position the internet of things transformation what that means from i.t. perspective, where do you see biggest opportunities there, retail sector as viewpointed from amazon, 4g to 5g, manufacturing and industrial internet of thingsthat's takin root there >> well, look, i think all of those are significant opportunities. i would say in the near term over the next several years telco in particular in the rollout of 5g offers really a massive opportunity for red hat as much of the technology a