he will stay with us, the economist from deutsche bank. get his thoughts on this and the bank of england rate decision which is also coming out today when we return. ♪ >> welcome back to countdown. >> we are back with marcus of deutsche bank. he used to work at the bank of england before joining deutsche bank, and bank of england is also meeting to discuss interest rates. give us some insight into what we will hear or not hear from the bank of england and the governor. >> i don't think today we will get any big news from the bank of england. there is debate over what to do .or guidance, the threshold the threshold is we are closer and closer to meeting the threshold. our forecast is in q2 already we will be there. >> what do we think, what next? one option is that he ditches the threshold, moves it to 6.5%, or try something new. >> you have two options. forward guidance and you gave a numeric one. moving that after six months is not -- you risk losing credibility forward guidance because every six months you change it, then what is the poin

real courage for the deutsche bank itself the payment would result in a loss of two hundred and fifty million years which will be taken into account in the adjusted financial results for the fourth quarter two thousand thirteen the lawsuit in which the bank and cash group has been going on for more than fifty. it started in two thousand and two and curse to the head of the credit institution or all four years the media mobile crane before it had disclosed confidential information about the deplorable financial condition of christian ministers from quebec city which contributed to the bankruptcy of the company as a result corey says he got the information from sources but this did not convince the quantity the other aye aye aye aye. and . . i thought. i will. ch. i for her. stg. if at all. i am the act. act. at. the or in between. i honor her. as in what will it all. lemieux. we rule. its. it's a he gets off to the end of the state. it will. she is all took the view that god is to get from it. to celebrate this event. the gp group feel it yet in the historic center of the problem. we d

a bullish housing forecast from carl ricadona, senior economist at deutsche bank. thanks. >>> on wall street today, investors were encouraged by the strong numbers on new home sales. stocks rose early in the trading session with the s & p 500 hitting a fresh record high. and the nasdaq reaching a 14-year high. and although those mile stones didn't last, the russell 2000 small cap index did close at a new all-time high. at the end of an up and down day, the dow rose 18 points, the nasdaq added 4.5 points and the s & p edged up a fraction. >>> and while a major u.s. stock average inched higher today, russia's rts index fell another 1.5% overnight. that's after president putin ordered combat readiness drills for 150,000 russian troops near ukraine. even without this latest sabre rattling from the kremlin, the rts index is down nearly 11% so far this year. >>> and to update you with more about the ukraine where protest leaders named the former economy minister to head the new government following the overthrow of the president. and as michelle caruso-cabrera explains f

after a few years i moved on to deutsche bank. at anybody that's in banking loves banking. they love the perks. they love what they can do. so from that perspective, yes, i liked it very much. but i hated being behind a desk. i have always had aviation in my blood. it runs in my family. my father was an amateur pilot when i was growing up. it always was in the back of my mind that one day, maybe i will own an airplane or helicopter. when i was working in deutsche bank, i started [ inaudible ] my day job, somebody working as an instructor, then i bought a helicopter and started doing the same thing. after a few years of doing that, i started to realize if i really want to make this work, i have to be in it 24 hours a day. in the case of chris, he hires us a lot. >> right now we are heading to west 30th street heliport in new york city where i am hopping off and heading off to a meeting. in 2007-2008 recession, i had to reinvent the business or the company because we were mostly focused on charters at the time, and you know, the char

with us, paul tressel, he is deutsche bank analyst who is following this stock.60 bucks. we're enough of a ways from that that it has a long way to go but is this simply a case of a good company having a bad thing happen to it? >> i think it is a good company that has had a number of bad things happen to it and quite frankly i think that will be very different for them to overcome in the short term. liz: beyond the hacking, what else? >> credit card breach was just the latest headwind for a company that already had slowing sales, that already had a very bad entry into canada, that has really impacted the financials. and quite frankly we don't know that the value is really there in this stock at this time. david: let me just remind viewers if they had forgotten, you haven't forgotten if you had one of accounts stolen but 40 million accounts were stolen. have they done enough to correct that so it won't happen again? >> yeah, i think target's management has done a really good job, getting in front of customers, letting them know what has happened by offering overdr

most likely names you would ,ecognize, deutsche bank barclays and credit suisse. what is new is there has been easing of the proposal with regard to foreign banks with more than 10 billion but less than 50 billion that was the original special. the fed has listened to concern and taken that into account and eased some of the requirements on the smaller sized banks. the other thing is the timing. foreign banks get a little more time. 20 16 this kicks in. this has been a debate in europe about whether these rules are appropriate for foreign banks to have to match. are they too tough on foreign banks trying to do business here? >> but we did know they were coming. any surprises here for the banks? >> a couple of wrinkles important. of the concern on the part of the u.s. banks about counterparty exposure. that has been put off for another time. rules about capital buffers have been delayed. nonbanks, systemically important financial institutions are not included. more to come from the federal reserve. they will vote on the final rulemaking within the next hour or so. >

but in the short-term, of course, now it's pretty clear that deutsche bank is one of the biggest play on wall street has to hold quite a lot of capital against their assets. morgan stanley is estimating that for deutsche alone, it will be up to $8 billion u.s. which they have to hold against their assets in the united states until 2016. so it's quite a lot of mope also for europe's biggest bank. another factor that they will have to pay higher interest expense, higher interest rates and that might lead to higher interest expenses up to 600 million euro according to morgan stanley analysts. so all in all, it will be more costly to make business in the united states for deutsche. and that comes at a time when it's looking into expanding its business overseas because there is growth. it's not in europe. back to you, carolin. >> annette, thank you so much for that. our next guest has put back his rate on european ratings. joining us now is chief investment officer, steve tolo. you took off that equity overweight position on january 15th. that was about two weeks into the sluggish start to

a morgan stanley report says deutsch bank and barclays will be the hardest hit among european banks.orting actress jennifer lawrence and charlie rose talks to the director of "american hustle," david o. russell. >> it was amazing. >> it was just genius. >> that was massive to have these two together. borough agents and they were while. that chemistry was electric. when we came up with the fishing story, i used to ice fish. like you can watch the full interview tonight. it airs on bloomberg television at 10:00 p.m. u.k. time later. hello. welcome to "countdown." >> time in london is 6:31 a.m. we expect unemployment figures and bank of england minutes both out later. both carrying forward on the discussion of the second phase of forward guidance. market datahe labor is very important. real wages in the u.k. have been following in there has been no adjustment for inflation. cracks we get wage numbers with the inflation. >> that is something to look at. will those things two meet? you'd expect to see depressed wages on the back of it. this shows spare capacity as well. there are less peo

seven financial institutions, including jpmorgan chase, and germany's deutsche bank, have already agreed to pay fines. the huge fines are weighing down now on their earnings. european firms are eyeing japan's clean energy market. they're showcasing their latest technologies in tokyo, with the increased interest in green energy after the accident at fukushima at the fukushima nuclear power plant. the delegation of the european union to japan organized the event. 38 firms took part. a french company displayed a product used to float solar panels on water. executives from japanese manufacturers and trading houses were among the visitors. the exhibitor of floating solar panels sees japan as the most attractive market in the world. >> european company have a little bit of advance, but that could be easily shared with japanese partner to make a very strong market from japan. but also, to push other asian country, as an example, to invest in this kind of technology. >> the japan external trade organization says more foreign firms are entering the country's renewable energy market. japan has bee

billion euro to kursk root which is owned by the ears of the media tycoon real courage for the deutsche bank itself the payment would result in a loss of two hundred and fifty million years which will be taken into account in the adjusted financial results for the fourth quarter two thousand thirteen the lawsuit in which the bank and cash group has been going on for more than fifty. it started in two thousand and two and curse to the head of the credit institution or all four years the media mobile crane before and had disclosed confidential information about the deplorable financial condition of christian ministry for blizzard to be which contributed to the bankruptcy of the company as a result forest and he got the information from sources but this did not convince the quantity. the other i eye and. . i thought. i will. i her. if at all. i am the act hatch. at the or in between as if what will it all lemieux. you rule. ch cease it's a huge it's off to the end of the state. it will she is all took the view that god is to get wet. to celebrate this event. the gp group feel it yet in the hist

deutsche bank of germany and u.b.s. f switzerland are all allegedly considering tactics to shore up u.s. subsidiaries by buying the subsidiaries debt other banks are considering selling assets or moving firms into legal structures outside the purview of the us a k offshore now according to the wall street journal u.s. bank entities would quote issued their parent companies the type of bond that converts into equity if the u.s. business capital falls below a certain level some european regulators have allowed this type of convertible bond to count as capital although it is regarded as less helpful for absorbing losses than simple equity. and the european european parent companies would finance the purchases of these subsidiaries debt by issuing bonds to investors i mean why use your own principle when you're trying to skirt capital laws in the first place no why not just raise more debt save right anyway one thing is for sure those european bankers they are afraid of some debt and they sure aren't afraid of some regulatio

joining us is the co-chief european economist at deutsche bank.e dots for me this morning between what's happening with this survey of the private economy here in europe, happening in terms of policy and the g.d.p. numbers that we're going to see. >> we have an improvement in the services readings by and large in those countries. the latest data, probably driven by the fact that fiscal austerity is not as hard now as it was two years ago. demand is normal and that should be reflected in the services data. on the manufacturing side of things, it is independent on the kind of traction we're getting from the outside. you could be tempted to read the dip in the german manufacturing p.m.i. as a reflection of what is going on in china. you have to be very prudent. the relationship usually doesn't work that nicely. it is a possibility. the problem we have right now in terms of -- is not just about europe, when you look at data from the u.s., you don't know whether it is the weather or a genuine slowdown of what is taking part there. the euro requester, y

including pension funds are have filed eight lawsuits against the biggest of these banks including deutsche bank city group barclays u.b.s. h.s.b.c. j.p. morgan royal bank of scotland but it looks like they're analysis is saying that they're not going to get anything because you have they're suing them on the anti sherman trust antitrust act and you have to prove that this was a competitive market and because it's a fixed market and rigged then they they're not going to win their lawsuits they reckon. in other you know semantical argument against free markets and these indexes like the way to describe for forex where you have your daily rigging here in london it's kind of like you've got the panama canal of the suez canal you know you own the rights to the path toward getting a free trade off getting a trade done and you are a gala doing so actually that's what this rating scandal is all about it's about index providers and fixers and riggers gouging customers so the costs of doing business keeps going up financialization was billed as a way to bring costs down but if you don't have any competit

purchase over twenty two percent of local products covered in white gold by the chinese consumers deutsche bank in egypt the team will predict gold prices will continue to drop this year. finally from tiny dot com. chinese people milling the sugar bowl. in the team now dialect turbo prefer to think of sugar coated popcorn bear the famous didn't surprise me. it's become a tradition that need to put a picture of all they're pulling the winter capital the three day period ended yesterday kaylee was twenty million visitors went there to enjoy the pumpkin and sweet herbal the total revenues of three back when speaking to win us over ten million us dollars this is no longer only extend out from their back this herbal products competing can't even jump to any attention. given that different recipes. back to no longer just the mere possibility. the bean replace apple peeling carrots cucumbers and differed not now and it was a big culinary change the traditional back don't go away because of that money matters were talking the blind citizenship in other countries. they can the huge number of chinese the

renaissance asset managers and we have you know softness of all work he is the chief economist at deutsche bankrussia you had a softball start out with you they had hoped january would have been a better month what kind of picture do you see unfolding for the first quarter. well i think certainly january was quite weak and the main culprit was fixed investment so the investment side continues to be the weakest link in russia's growth performance but there is hope that we might have some recovery especially on the consumption front because we have the olympics and according to various estimates the contribution from the olympics for russia's g.d.p. could be as high as zero point three to zero point four percentage points for the euro as a whole so on a monthly basis of could be even more emphatic. so for the quarter as a whole it will be a difficult period but there are some rays of hope and some triggers that may make russia look a bit better than in january tim would you agree with i'm going to look just beyond the first quarter just a little bit because i think we're rushers today they need t

european market action will go to frankfurt into our correspondents to fall the management of deutsche bank reacts to the critics that said that the wages of buying kits have been far too high so bonuses will be kept and to a bank a will not be able to get more than three hundred thousand euros a year as a bonus. of cos this had no impact on share prices tpa although i did this the topic has been discussed here on the frankfurt stall while traders have been waiting after black tuesday yesterday and asian markets this was quite calm trading investors wait for the ecb decision to come tomorrow when stefan golf and fight for their seats on the wrong market numbers starting in frankfurt the dax was down by a bit more than ten percent to ninety one sixteen euro stocks fifteen unchanged for the day the dow jones industrial average in new york slightly open on fifteen for fifty euro slightly up against the dollar. who's going to the red carpet at the deli allah stay with us will be back. mule. you decide you want to watch the images. programs the whole package. dw on the future. media center. dw t

deutsch bank set to cut the u.s. balance sheet on the foreign bank capital there according to "the financial times." the lender is set to reduce the $400 billion balance sheet in the u.s. to around $300 billion. they say it will be achieved in part by reassigning operations on their mexico repo businesses. they have been up 6% in the last six months. >>> and george soros said he's considering investing in europe's banks. soros believes in the euro and believes the banks need capital. when i read this i wondered whether he was talking his own book here and looking for the next opportunity, but he's talking about crossroots, injecting capital into the banks. is that what we need, because we are not doing it quick enough, are we? >> we need more capital. they are preparing for the comprehensive central bank and we would see a lot of this, so a lot of transitions which, by the way, hsbc will do. >> great to talk to you. >>> still to come on the show, steve wazniak is unveiling the next generation of the phone to catch the

and before, he had mitsubishi and deutsche bank to outperform and buy. we see what happens tomorrow. back to you. >> david, thank you. named its new ceo and is inviting bill gates back to campus. its firstll announce quarterly earnings later on today. hans nichols joins us now from berlin with more. will nadella make? the first question is easy to answer. it is $18 million in total compensation for the first year that is quite a bit of a boost when you compare it to steve balmer. here is what we know about mr. gates. he is going to be coming back to be -- founder and technology advisor here at he will be spending a third of his time on campus. before, they said he spent about 1/5 of his time at microsoft. what ishis role of microsoft's future? what is the news coming forward? adella has hinted he will focus. that could mean cloud computing and may be their search division, being. a lot of challenges there. he will have oversight. he will have some of that knows his way around the tech story with bill gates on campus. you isher tech focus for that numbers

deutsche bank says the company showed strong organic growth and operating margins in the second halff the year. rbs is planning to cut 30,000 jobs according to the wall street journal -- according to the financial times. the job cuts come as rbs shuts down riskier investment banking sectors. jonathan ferro joins us with the details. >> the top line is quite simple. rbs is planning to withdraw from any of their investment banking activities. they could cut 25% of the 120,000 strong staff. the spokeswoman declined to comment on this but potentially huge deep cuts could be overseen by the ceo. this is not a big surprise. perhaps the numbers will dominate the headlines. just listen to ross speaking over the last couple of weeks. >> can i just tell you, my aspiration is not to run the world's largest bank. it is not my aspiration. my aspiration is to run the best bank in the u k -- in the u.k. >> he is not exactly flagging a hiring spree. we were not expecting a big expansion. >> rbs is the latest lender to scale back on investment banking. how big of a trend is this for the industry? >>

r.b.s., deutsche bank looking for a rate cut now. my big question is that japanese rebound yesterday, does it carry through to european trade. equities up overnight. u.s. equities higher yesterday. european falling. down on the ftse and down 1/3 on the dax and down 1/3 in paris as well. i'm going to get stock specific with you. you can decide whether you're brave enough. i'm looking at swatch. expected to rise when it does finally open. up 4% this morning. profit will the swiss franc ever give them a break? 1.6313.d now buys you the number we're expecting this morning, 59. anything above 50 is expansion territory. approaches 60, that is outright punchy, francine. >> thank you. markets look to be rebounding after a serious slide earlier this week. joining us to share his investment strategy richard jeffries. great to have you on the program. how surprised were you by the correction? >> i think rather than the correction, i would see this as a reintroduction of volatile any the markets. what the fed has done is buy a period of quiet --

joining us to discuss all this is john merrick, economist at deutsche bank.he question is, is the real recovery finally taking hold? let me ask you a different question. is that true? this is in a recovery, this is bouncing along the bottom. this is growth that doesn't generate any kind of return to anything like normal. this doesn't close the output gap. this doesn't do anything for europe. >> i think it is fair to say. we are basically where we are in terms of trend growth. gap, we already have a will probably stay there for a while. rebound for fragile two reasons. it is still driven by some very contingent elements. the fact that austerity has slowed down and the eurozone, that israel but it is still dependent on where policy is going. second it is about traction. we saw that with the german figures. it seems that they were supported by very nice improvement in their trade. is the ending of growth in the eurozone really about to roar? no. probably the test for this, the litmus test is going to be credit and whether or not we are starting the next few mont

something that deutsche bank called for. the question mark hanging over them and so much for the mining industry as well, the biggest contributor for rio tinto is iron ore. china imports about 60% of global iron ore output. rio got a nice little pump. the price was up 15% over that period. china showed no signs of backing away from that period as well. it is down 10% this year already. how that plays out will be key, not just for rio but for the other miners as well. >> thank you very much. nestle reported sales growth in line with estimates this morning. the company said it sees a challenging year ahead. ryan chilcote has the latest. how will this move affect sales? >> they reported sales growth of 4.5% for 2013. that was back in line with expectations but it was their slowest growth in four years. what i think investors don't like this morning is they say next year is likely to be a lot like the past year. the issue really is how do you get away from the slower growth that appears to be a constant issue now when it comes t

deutsche bank, smart analyst recovery, we expected wyndham because it's typically a beaten story. and they said that results were in line, but that the fundamentals were relatively weaker than expected. i've gone over the quarter and did not see it that way. but maybe we have a response to this gentleman who is pretty good. >> no, there's a lot of great analysts who follow us. and most are extremely supportive and understand the story well. we did have a great quarter. operationally, we performed as we thought we would. actually, a little bit better than we had in our own planning. and i'd rather be here yesterday when the stock was up $2.50 than when the stock was down $2.50. >> that's important for people to remember. because there are hedge funds who are so-called gaming your stock because you've been so predictaby beating and raising. and you were a victim of your own success. >> that could be part of it. and we don't try to play a game. we don't try to put out something and beat it. we tell people what we think we're going to do. and if we can outperform it, that's our goal,

that's a lot -- liz: it was deutsche bank -- >> and a seventh one which they don't know.'s the timeline --? >> here's the timeline and, you know, that is a very short period of time. i've not seen this cluster like this since the -- liz: jpmorgan. >> vp morgan and bank of america are the first firms to make, to take these affirmative stees, you know, sending out information to people, here are, here's the counseling available if you need it, because this is a stressful job. we understand other banks are looking at it as well. we should point out that the industry trade group, industry financial market association so far is remaining mum on this, but they know about it, and they're following it too. here's what i can say. the debts appear to be unrelated in the sense the people don't know each other, we believe. lots of conspiracy theories of that. they knew each other, there were violent scams. we don't have any evidence of that right now. this is kind of where you get into the armchair psychology, but i think it's almost necessary here. bankers are type a people. they, t

economist at deutsch bank and david, former deputy assistant treasury secretary.ood evening to both of you. let me start with joe. steve liesman is saying that this is actually one of the coldest winters on record. 15 to 20 major cities have record snowfalls. does that satisfy you as a reason for the lousy numbers coming in in january which, in turn, have helped drive stocks to a 5, 6, 7% correction? >> the weather has been bad, larry. it's clear that it's inhibited economic activity. it has hurt some january weather but we're going too far in blaming everything on the weather. january typically is a month where the weather is very cold. cold weather itself does not determine economic activity. and the seasonal factors that the government uses anticipate a lot of seasonal weakness. for example, when you look at employment, the seasonal factor or the plug that they use to adjust the data is 2 1/2 times larger than any other month. so the weather is bad but i really think it's gotten way too much play. >> well, wait. let me follow that before it gets to dave. what a

deutsche bank, smart analyst recovery, we expected wyndham because it's typically a beaten story.t results were in line, but that the fundamentals were relatively weaker than expected. i've gone over the quarter and did not see it that way. but maybe we have a response to this gentleman who is pretty good. >> no, there's a lot of great analysts who follow us. and most are extremely supportive and understand the story well. we did have a great quarter. operationally, we performed as we thought we would. actually, a little bit better than we had in our own planning. and i'd rather be here yesterday when the stock was up $2.50 than when the stock was down $2.50. >> that's important for people to remember. because there are hedge funds who are so-called gaming your stock because you've been so predictably beating and raising. and you were a victim of your own success. >> that could be part of it. and we don't try to play a game. we don't try to put out something and beat it. we tell people what we think we're going to do. and if we can outperform it, that's our goal, drive people towa

three jpmorgan bankers, a deutsche bank banker. we had all kinds of issues with many of these guys.t happened in many of these details but these are apparent suicides at a time when things have started to look up, the market came back, the people's 401(k)s have come back. what do you think is going on? is it endemic and a systemic problem within the banks and they have to look within themselves and fix the problem? >> well you started off by saying your audience members will likely reply that i feel the same stress. i think that is very important because my study shows that what you see on wall street is an early indicator of what we're going to see in the economy in general. u implied this might be due to economic pressures. that is why people work hard. yes of course, people work hard when there is need to but it is also because wall street banks have devised organizational practice that is make people very adaptive anddhelp firms to change quickly but these same practices intensify the pace of work so that people work hard, even when there is no real need, for doing so. let me gi

deutsche bank downgrading to sell. don't cut the payout when that's the reason people are buying you. >> stock number four, gt advanced technologies. >> gtat is the company here. despite the odd name, it's a crystals company, basically they do l.e.d. displays, solar panels. it's an apple play. heavy volume. they might be the crystal provider for a future iphone cover, among other things. >> then we have synergeva. you can clearly see the difference in the price. >> nice move, 5.7%. massachusetts based biopharmaceutical company. they develop ther put kproducts unusual diseases. their average target, $91, $4 and change below where the stock is right now. be careful with that. >>> retail sales for january coming out this thursday. it will be a really big deal. it's a data-light week and we have had bad weather recently. one company is america's largest strip mall owner and operator. we have the ceo, david henry, joining us now. please come in here. great to have you with us today. you've got three big tenants. you have a

also getting an upgrade, deutsche bank upgrading big lots.mpany are higher as well. >> thank you very much. "shark tank" returns tonight on cnbc at 8:00 p.m. eastern time. great program, as you surely know. check out this product. it is called the air cork. it is a unique wine preserver that inflates inside your bottle. the creator was offered a deal on the show but you have to tune in tonight at 8:00 eastern to see what happens. here with us now is eric courty. how did you come up with this idea and why is this better than the conventional stoppers that you put in to preserve wine? >> frankly, i was tired of dumping wine down the kitchen sink is what it came down to. i was using all the rubber stopper vacuum type devices, i was using all kinds of things. ultimately i had to come up with a way to seal the wine from the outside air at any level within the bottle to prevent oxidation. the air cork is designed to go down inside the tight neck of the bottle to provide a complete seal within the bottle and eliminate oxidation. >> i will pump you u

> up 3% to $147 and change, upgraded to a buy from neutral at isi group last week initiated by deutsche bankreful. the average target of wall street analysts together is 150. in an aggregate, all the street doesn't see as much upside nearly as isi does. >> good point. okay. the chinese internet search service has been upgraded to buy at goldman sachs. chinese theme today. >> .3% but the target goes to $220. stock's at 173. so $47 of upside seen at goldman sachs at baidu. surprised the stock's not moving more. >> let's talk some numbers. >> we do have every day. we hit the stock or stocks or indexes from a technical and fundamental perspective. today, we look at the defense names as a group. even with concerns about defense spending, all these stocks have done is gone higher. on your charts today, carter worth. and steve cortez. steve, for a couple years now. we heard defense department cuts will slam these stocks. guess what? if you sold them, you made a mistake. should we sell them now if we still own them? >> today's action is revealing that once again, these stocks are vaulting higher des

we surveyed seven economists on this and they're tracking survey, scott, including goldman, deutsche bank, moody's, as well as morgan stanley participating. more of an ongoing basis. >> the idea i raised a moment ago with sarah and the panel of this pent up demand. if everybody wants to blame the weather now and perhaps rightly so, undeniably so, is there a chance, a likely said of this pent up demand on the other 150id that helps the economy down the road? >> almost certainly. it's hard to look at this retail sales and not see some whether in there but still have some concern, underlying weakness. scott, what you're going to want to do is temper your pessimism right now and temper your euphoria when we get a pop. neither will be tell you a truth. >> if you get a wash, all things are equal. >> that would be the best outcome. >>> let's do our trader blitz. tree trades on three stocks making news. starwood hotels topping estimates on the top and bottom but shares are lower on a weaker than expected outlook. doc? >> opened lower, scott. rallied, sold off, and now rallying back again. starwoo

in the low 100s now, deutsche bank is expecting 115, perhaps even this year.00 or even 300. of course, there has long been talk of abanomics, that it's sure to fail. there are a number of hedge funds that haven't given up yet. several i talked to say they plan to re-enter the japanese stock market and are waiting for the right moment. one says he thinks 13,800 could be a support level. we are pretty close to that. if this is a bottom, we will probably see a little more buying in the hedge fund community from there. we will see how it plays out. obviously still bullishness out there. >> put everything into perspective, too, as we said at the top of the show. a market that was up almost 60% last year can peel 14% or 15% off -- >> right. >> take a step back for a second. >> exactly. last time we saw correction was last summer and before that, last spring. so you will see much more frequent turnarounds in the japanese stock market than you would here. it's not entirely unusual. >> josh? >> i think those are some really good points. people should understand that th

deutsche bank and ag disagree, they kept their buy rating. >> look at this.et talk, is it? massive moves down. >> down 19% to $6.42 a share. textbook rental company. the target was cut to eight, still above where it is now, from 11.50. beat fourth quarter estimates but here's the problem. gross margin expected to drop to 25% from last year's 32%. the stock's been walloped, down 23%. >> and the american clothing corporation was downgraded to market perform in late january. >> i guess that was a good call. the stock is down nearly 6%. we talk about the weather, lot of the concern here is about the weather that maybe there's some issues around north face. they make all kinds of products. fourth quarter revenue was less than expected, $3.2 billion. vfc down 10% year to date. >> our under the radar stock is lock me in. nice to end on an up note. it posted some earnings that came out and as a result, it's soaring to the tune of 21%. >> logmein doing very, very well. got an upgrade here. they are basically a cloud computing company. they do remote file sharing, data

deutsche bank securities inc., good to see you, barry. this is an alternative investment survey that you did. what did you find? what was the key finding in terms of where people are putting their money to work for the big guys? >> it's interesting. we have done this, our twelfth year doing it. we interviewed, surveyed 400 investors, about $1.8 trillion worth of the alternate asset space which is about 65% or 70% of the investments in this space. what we learned, it was a bullish year. not surprisingly, we ended the year $2.6 trillion in assets under management. $312 billion of that was performance, $64 billion in net inflows. next year looks like another anticipated bullish year. we are targeting $3 billion in uam coming in. we think it will be about 50/50 between net inflows and performance during that period. >> dominic, let's go to dominic chu for a market flash. >> shares are popping up for a big share buy-back announcement, the chain purchasing an additional 25 million shares of stock. marriott stock ticking up 2.5%. overall, does t

. >> let's put it this way, the reason why, from deutsche bank had the highest-priced target.nd she came on television and said, if a person buys a consumer product for $600, $800, they're going to like it so much, they might go buy an industrial product for $40,000. and i said, that's like someone saying, i like my pickup truck so much, i bought an 18-wheeler. it makes no logical sense. >> basically, you're getting out the enthusiasm and overly optimistic forecast on the street. the forgivingness of wall street to say, it's a great technology, it captures our fascination, so we're going to slap a high multiple on it. >> the lack of any real thought, deep thought into what this particular company is. 3d systems, i heard this morning, on your show, josh brown. he says, well, i think 3d printing is the way of the future. i'm long 3d systems. what's one have to do with the next? >> that's a good point. andrew, great to speak with you. hope to see you soon. executive editor of citron research. taking down trb with him, too. >> it's a profit warning but not a revenue warning. when