of the staple stocks into the more cyclic l companies that do well during times of economic expansi expansione aluminum, paper, steel, woodstocks even though they had uncertain earnings, the money was flowing out of the steady eddie stocks like heinz or dock cola as well as kodak and scott paper and falling into reynolds metals and a host of metals companies. right before the 10% clause hit, right before it kicked in, i pulled out of the tail spin and sold heinz and i played the rotational game along with the rest of the hedge fund managers. bowing to the world of rotation did save the day and saved my fund, even as it would seem silly from the perspective and individual investor. here is the bottom line, when your stock keeps coming down even though there is nothing wrong with the underlying company, ask yourself if there is a larger rotation. if there is, you have a decision, cut and run or buy more. if you're an individual investor, do the latter but if you're pro, do the former because it's the nature of the beast. david in georgia, david? >> caller: big southern boo-yah to ya. >> of cour

formed to reduce the government at the end and you end up with more government and not less an expansi expansion. a lot of disappointments coming. and then we have the cycle -- the bull market began march 6, 2009. so we're eight years into bull market. the economy recovered june 2009, will be eight years into an economic expansion. normally by this time, you have meaningful corrections. >> so you don't think that we are, quote, knocking on the door of euphoria, as someone who runs a lot of money suggested to me yesterday. you think we have broken the door down and we're in that state as we speak, signalling the end of a bull market, or at least the coming end of the bull market. >> we're knocking on heaven's door. that is the death of the bull market. >> yeah, josh brown is here with me and has a question for you. >> hi, mariah carc, i have a ape you coming on the show. i have a philosophical question for you. there are 120 million households in the united states, the vast majority of which have people working, some two jobs, investing money into their 401(k)s every month, trying to do the right

we know -- you don't have to be a cbo budget wonk to know that if you end the medicaid e expansi expansionllions of people who qualify now won't visit. >> because of obamacare, right? >> no, obamacare, the uninsurance rate dropped precipitously. >> but people lost their plans. they lost their doctors. >> no, no, jeffrey -- >> my mother lost her doctor. that's a fact. >> that raids taxes and helped people buy insurance through exchanges and medicaid program, right? the expansion of medicaid. the program spent money to get people insurance overall. even if there was some disruption. >> in the system. >> this plan, i don't think anyone, if this is what you're alleging, you would be the only one. i don't think anyone in america believes that this plan will ensure more people. >> matt, how do you see this? >> look, i think jeffrey is trying to destroy the credibility of the sort of the discussion tonight is based around the cbo. and i think we would all concede of course there is no way that they can 100% accurately predict what's going to happen. there are so many moving parts in this thing. i

short comment this morning where he could have been more expansi expansive. a mistake. took the question out of context. of course i had these meetings. they were nothing. instead two short answers. what's the burden on him? what does he do to put this behind him? >> i expect him to say, i did not have meeting with that ambassador. he's tied up in his own shoe laces. he's given several conflicting accounts. the only thing that's left -- i thought it was very interesting he didn't rule out recusing himself. he came back. for those of white house read these things. he came back for the second part of the question. >> he heard the word recuse. >> so i think that is going to be -- you pointed it out perfectly right. i think recusal is the escape hatch on this thing. the question is, is he going to -- he went very dark during his confirmation hearings. he's not been out in the public much. is he going to give a fuller accounting at any point in time? >> in this environment, if you give democrats recusal, which everyone believes is inevitable down the road if there

for you, secretary price is pretty straightforward, why do you want to take away my medicaid expansi expansion in. >> as a physician, i practiced over 20 years and took care of a lot of patients with cancer, and it was one of those challenges that when it faces you as an individual or someone in your family, you want to make sure you have access to the highest quality care that you can receive. the fact of the matter is we don't. we don't want to take care away from anybody. what we want to make certain, though, is that every single american has access to the kind of care that they want for themselves. if you look at the medicaid program right now, we have one third of the physicians in this nation, brian, who are not seeing medicaid patients. so if we want to be honest with ourselves as a society it's important to step back and say why is that? why are those doctors not seeing medicaid patients? let me suggest that it's because the medicaid program itself has real problems in it. what we want to do is one rye form t - reform the system. or move to a system that might be much more responsive t

want to meet the needs of so many who have signed up, of course, as a result of the medicaid expansi expansion. trumpcare ends medicare expansion, rolling back federal matching funds in 2020. the rural hospitals in my state are frequently the only health care provider available for hundreds of miles. the medicaid expansion helped these hospitals keep their doors open. now, mr. president, i don't think it's hard to calculate why the hospitals are speaking out against the flawed approach of trumpcare. they've got a lot of facilities in rural areas that are already on tight margins. if these communities lose the ability to cover needy people -- some of the essential hospitals, and i just described three types of them, mr. president. some of these essential hospitals are going to have to close and the reality is going to be that patients aren't going to have any doctor anywhere nearby. now, understand if the majority insists on ramrodding trumpcare through -- and at this point we have -- staff just told me there aren't any budget estimates. as of now, the congressional budget office is tasked with