farber wrote in english and dutch editions for four books. since moving to vermont, written three more books in published in french and english. but the most recent project has been this collection again, james baldwin, escape from america, exile in promise. quick round of our panel its and jules and i will turn it over to them. >> [inaudible] >> you're right. unfortunately george wendt was not able to join us for the panel. he was very disappointed but not feeling up to it. he turns 91 on monday, and he had a flu shot earlier this week and had a bad reaction to it. sew stayed home. but he wanted us to know how disappointed he was and he really loved jimmy baldwin and looking forward to reminiscing with the others about him. thank you, jules. thank you very much. [applause] >> i don't know if it is better if i sit or stand? can everybody hear me? is that better? maybe i'll stand. first thing people asked me when they hear about the book is, why did you do this book about baldwin? there have been enough books and eight airy commentary and so f

here is mark farber yesterday on where optimism is and where stocks have gone as a result and whether it's justified. >> i don't think the optimism in stocks will be warranted. i think you should rather use this current strength as an opportunity to reduce -- >> so, pete, the point i was trying to set up at the top and what faber says, tone and optimism can only take you so far, right? are there fundamental underpinnings in how fast we've gone there? >> there is some fundamental and people get exuberant but, yeah, the economy looks like it's getting better. jimmy, you talk about this all the time. all sorts of signs that it's getting better. you look at unemployment, that level. i go across, scott, you have that stat up there about how much they've run. how bad were they hated for so long? so, yes, they've made a rapid move to the upside but that move is based upon the idea that any kind of help in the regulatory side of things which has gotten in jamie dimon's addresses many times, unbelievably heavy, that whole regulation side. if that improves add all that's a bonus on top of earni

notable laggards and david farber mentioned one of them.oint out, however, that transportation stocks and small caps two of the more outperformers of the past few weeks are not performing. if you look at the at least for right now, up by 2%. no surprise on oil prices. materials, health care also at least for right now holding on to some of the gains. tech and industrials, big etf laggards with sectors overall. if you take a look at when's happening with the oil market overall, that's a big story. down here far lot of traders, chevron and exxon over there watching for that all day today with the oil majors. taking a look at the other companies, not just pioneer but names of anadarko, marathon oil. not necessarily majors and also steaming ahead today, as well. overall the way that some of the markets are shaping up internationally could be interesting, as well, if you take a look at what's going on with china and italy. huge moves lower in china overnight with the shanghai composite after property real estate concerns and popping up. also, a