let's bring in erin gibbs, president and c.i.o. at gibbs wealth management. erin, always great having you with us. let me get started with this g.d.v. chart and we have seen treasury yields rally and investors just shunning those megatech names and headed toward those value names like the russell 2000. how do you position in this environment? erin: yes. so i've been advocating being able to use what i call a barbell approach. so really having exposure in both growth and value. and this is -- this is -- i've been advocating this since the third quarter, late summer, because we just keep seeing these shifts between value and growth and basically value does well and defense does well and we have concerns about inflation and growth comes back. and it's been sort of six to nine months off and on. so rather than constantly switching and trying to guess what's happened, i believe in just being able to really look for the best of companies in both ends of the spectrum. and so as we have these concerns now about inflation, those bets and defensives what will hold up yo

erin gibbs with us. and uma i came close the last time. next time, uma, i will be 100%. meantime talk about this market. uma, let me start with you, your overall assessment. last tuesday was the fourth session back-to-back-to-back where we closed near the bottom of the session. ugly closes. people were becoming worried. inflation in the air. stagflation in the air, all kinds of things, yell here we are knocking on the all-time high again. >> great to be here, charles, back again. you know at this point we've seen some earnings results coming out and it is kind of fair to say at this point covid really feels like it is in the rear view more mirror for us, we focused on what is coming ahead. as we try to navigate the markets for our clients something we're really focused on is looking at stocks that really have great demand drivers at their back. also have really good pricing power to make it through the inflationary period. if you look at type of things that will be working in this post-covid environment i think a great example of that we were great, public markets, view

. >>> let's continue the inflation conversation now with erin gibbs.nly does inflation 'cause us to pay more for pretty much everything, it may influence the fed to raise rates or the bond market to do it sooner for them, what does that mean for stocks tie them together. >> so a couple of things obviously financials are taking a harder hit, which is unusual this time since normally yield curves and inflation is generally seen as good for banks but in this case because it's so far out and it's hitting the economy so quickly, that's hurting them but i think the biggest impact right now what we're really seeing is that it's hurting those small caps and mid caps the hardest. and they've been really stuck in this trading range since we saw this inflation since your april worries. small caps, mid caps basically been trading completely flat and so, this further inflation and further signs all these new numbers coming out, means they're probably going to be stuck in another trading range for quite a few months and we may not see them recover into their up tren

joining me now, group that always has great nerve, barry nap, erin gibbs along with gary gary kaltbaumcore was better month over month. used cars, airline seats starting to slide a little bit, barry, month after month. here is the question, if inflation is ultimately the cure for the inflation is the stock market overreacting right now? >> i don't see any evidence that we had serious demand destruction right now, which is what inflation is the cure for inflation comment implies. if you look at various components of cpi, what you see is broadening out of the price pressure. you're right to note that the reopening related sectors like air fares, lodging, used car prices are coming off, however the supply chain related sectors, appliances and the like are moving up and sectors that have driven inflation for decades, whatever inflation there has been, housing, medical care, and education namely, those are sectors that were hit by a disinflationary transitory hit and those are starting to rebound. also to bullard's point last night, st. louis fed president bullard, the sectors that are real