dan suzuki coming up a little bit later. tom: you have dan suzuki? jonathan: we have dan suzuki.ard bernstein looks at the dow jones industrial average. jonathan: i will ask richard about that. tom: will continue. jonathan ferro, 9:00. this important amazon story. armida -- our media analyst joins us. i know shipman has written this is like one day of revenue for amazon. i get that. is this the beginning of something bigger for amazon? you look at this is an incremental step or is it a dalliance for a retiring jeff bezos? gita: thanks for having me. i think this is a bold step and this speaks to amazon's ambitions in streaming. they have doubled down. just a few weeks ago they announced 11 billion-dollar deal with the nfl. they are serious about streaming and now they are getting an iconic mgm studio with 4000 movie titles and 17,000 tv shows. they are going big in streaming. tom: they are going big, but for streamers it has not been a bed of roses. it is paramount plus, i guess it is going to be mgm plus, i do not buy it. what is the aspiration of amazon when you contrast them w

concerned should you as a stock market investor be is it transitory as the fed says let's bring in dan suzuki where did us go? >> hi, tyler i think it's going to last longer than people think if you look at the reasons why we're seeing inflation today some drivers are transitory but if you step back and look at the big macro backdrop the big drivers are all sort of piling up telling you that inflation will be a story that will be with us for a while. everything is telling you that inflation will last longer than people think and in terms of the transitory nature we see imbalances in lots of markets causing the supply chain disruptions but i don't think the imbalances or disruptions go away any time soon so probably inflation, higher for longer. >> you say the biggest beneficiaries of inflation and interest rates will be combo of small cops, value and deep cyclicals. is this a longer term rotation out of tech? >> that's absolutely right if you just look historically when inflation is rising those thing that is you mentioned tend to do well basically you look at the winners of the last toen yea

with that in mind i want to bring in richard bernstein as advisor dan suzuki, and dan, you're like the come into the market and they want to be investors but when things get hairy they become defacto traders and are taking big losses mostly for your own emotions and worries. >> well charles it's good to see you and i hope unlike luke, that i don't die at the end of the segment, but seriously, en answer to your question, probably the biggest misconception is that when you buy a stock that you're betting on the success of the company. like you're placing a bet at a casino and that's not the case although it feels like that day-to-day. you turned on the news, good news stock goes up, bad news stock goes down but the reality is when you buy a stock you're buying ownership stake in the companies and the profits that that company is going to make is really what matters is the price you're paying for those future profits, and when you lose sight of that profit story that's when investors get into trouble, probably the best example of that is the tech bubble, right? all the promises and the st

but i want to bring in dan suzuki along with key advisers group eddie gabor. on reopening, and you talked about the profits, you said this profit recovery would be the largest in a decade. we're starting to see it. should they stay the course with this approach? should they stay with the reopening tough and still shun tech? -- stuff and still shun tech? >> yeah, charles, i do think investors should stay the course here. if you look at every rotation, it's always met with skepticism, and that starts to morph into this view that the rotation's gone too far, and i think that's -- but if you step back and look at the long-term to havage here, you can see very clearly whether you look at flows, valuation or positioning, you know, we barely scratched the surface on this rotation. i think there's plenty of runway especially if you think that we're going to continue to see, you know, this continued acceleration and upside surprises to the acceleration which is exactly what you're seeing and i think will continue to see. so so i think you want to own the stuff that's go

. >>> let's talk about the close joe terranova is still with us, dan suzuki joins the conversation mike don't know that anything in particular happened, to be honest i think we're still in this process of being a little bit destabilized from the shakeout last week. i've been mentioning that until proven otherwise, it looks a lot like the previous pullbacks we've had, 3%, 6%, something like that from january, february, march and a little bit into april but none of those were over in three days so you had this multi-week period of chopping around and it seems like the market at the end of the day getting hit with a wave of repositioning market on unclosed sales and who knows what was driving it. but the market seems to want to test to see if that friday follow-through rally after the bounce was genuine buying. it did seem very machine-like and mechanical while it was going on. >> joe, when you do get a final 20 minutes of trade like that, does it worry you at all is it worse than if closing down 0.8% had happened in a more steady fashion throughout the day? >> no, it doesn't worry me i'm