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end of qe and hint to it in december, we could have trouble in the market, maybe financials tells us that. here's a portfolioyou will. the price of options is really low. i think you look to december 31st quarterly options. you can put on a portfolio hedge for really cheap. this is the quarterlies. they go out. you don't have to do expectations. when spy was 176, you could do 172, 162 december quarterly as a $10 wide for 1.70 paying 2.40 for one of the december 31st puts and selling one at.70. between 170.30 you could make. you're risking to protect your portfolio down 8%. here's the thing. we haven't had a peak to sell off 38% all year long. you're willing to risk a certain amount of money to make sure you have down side protection between now and the end of the year. >> i like the protection f. you spend the money and end up wasting it, it's not wasting it. it's like spending money on health insurance. you didn't file a claim president. >>> two retreat from this hot seck tomorrow. they'll explain when we come back. [ male announcer ] once, there was a man who found a magic seashell. it told him what was ha

. >>> as we close out 2013 many are reevaluating their portfolio according to findings of financial planners fears of clients. 70% say they're worried about rising health care costs, long-term care insurance and how it will affect their retirement nest egg. 50% concerned about the impact of rising interest rates on their portfolio and 45% are worried about the tax laws, especially capital gains and the medicare surcharge for high income earners. we're starting a new segment today on personal finance here on "power lunch" and joining us are members of the cnbc digital financial adviser network, a 20 member group of financial executives with cumulative assets under management of about $23 billion. brittney is founder and ceo of financially wise women. tim joins me here in studio, vice president of the financial consulate. welcome to both of you. nice to have you with us. >> thank you very much. >> tim -- >> thank you. >> let me start with you, tim. we listed some of the top three concerns. but those aren't obviously the only concerns. what are you hearing from your clients about what they're m

maybe the financials are telling us that. here's a portfolio will, implied volatility is low. price of options are really low. so to me, i think you can look out to december 31st, quarterly options, the spy, you can put on a portfolio hedge for really cheap here. this is the quarter lease, they go out. you don't have to do regular expiration, when i priced it up, when the spy was 176, okay, i basically -- you could do the 172, 162 december quarterly as a $10 wide for 1.70. paying 240 for the december 31st, 172 puts. and selling the 162 put at .70. your max risk is $1.70, between 170.30 and 162, make up to 830. you're basically risking 1% of the spy to protect your portfolio down 8%. here's the thing about that 8% level. we haven't had a selloff more than 8% all year long. this is basically a said it and forget it. you risk a certain amount to have down side protection between now and end of the year. >> scott, smart move? >> i like the protection he's not spending very much money. if you spend the money then you end up wasting it, you've wasted

look into financials, look into tech, look even look into the pharmaceutical industry and take your portfolio and spread it across different areas a little bit evenly because in case of one day financials could be up the next day they could be down. the same with pharmaceuticals. we just don't know what's really happening with this market right now because everything is kind of a topsy-turvy according to data. > > good to have you on the show and thank you. > > thank you have a great day. food stamp allocations rolled back to pre-2009 economic stimulus levels ---much as the payroll tax holiday expired at the beginning of this year. as our cover story explains, it's not only direct recipients who are affected. the greater chicago food depository is bracing for more demand for its pallets of food shuttled on forklifts daily. this giant warehouse already supplies 650 low-income food pantrys, soup kitchens and shelters throughout chicago. and the need for meals has not eased up since end of the recession. "over the last five years, we've seen a 70% increase in food pantry visits in cook county, a

investing and portfolio management organizational and funding structure and investor relations geitner played a central role in the government's response to the two thousand and eight financial crisis before becoming treasury secretary of two thousand and nine prior to that he led the federal reserve bank of new york for more than five years. and finally the world's largest futures exchange the c.m.e. group said that its clearing service for energy and other swaps was hacked back in july of this year sparking a federal criminal investigation now certain customers information relating to the chicago mercantile exchange as we report service that was compromised now clear

portfolios and. chase is the top financier in according to our research the top financier in climate changing industrial projects gas oil and coal mostly and we. really i got over actually did i don sings extraordinary work we just have literally just have sixty seconds left tell us what your face seen and the people who are watching what website are you going to how can i help you. can you hear what the i'm saying ok so it was one year for reverend billy three months for myself. is the the what they offered. us and i believe there's a well we're performing currently at st joe's pub st joe's pub where you get a sense out of. the telephone or out of the public theater for the next four sundays and what are some other things that people can do to help us out is there a well people can come to our website and the man we're trying to gather enough energy and funds and support we have petitions the website is already believe dot com rather holy on december ninth to rev billy just are you be ok leave reverend l.a. name i ever knew and the and the hope you show an extraordinary new york cop shop inquire about

share of loans issued for him to the usual seem to lending portfolio for banks and the country exceeded fifty percent in particular financial institutions actively pull from kazakhstan residents did promise to purchase a new car. when we get on with these new models dead vines has made a significant contribution to the development of our market is in prison. thanks all for such products as retailing thing that was delayed the pain and pain and i install months old the sprawl that are making a significant contribution to development of the car industry in general above fifty five percent of sales in the segment involves the use of banking products people have a chance to purchase a car taking into account the development of the banking system especially retail and retail lending the iranian banks are we holding consumer lending to all groups and layers of the population when they receive salary and aunt. we are witnessing a significant increase in lending. anz's case and borrowers should pay attention to interest rates and conditions. he is busy the stupid. to those that live there. once the markets and music you can use as

financial stage. we went to meet the new generation of traders. casablanca's stock market has posted october gains of a percent. portfoliofal clients, sarah faces competition from around the world. we gather news from the morning press, and my role is to transmit them to clients and explain the opportunities or risks of buying or selling on the market. >> they are determined to make casablanca a major hub of world finance. >> this is one of the oldest afterexchanges of africa cairo. it was founded in 1929 at the time of the crisis. in 1923 whencame the government decided to privatize state companies. working in france, germany, and dubai, he decided to return -- she decided to return home to raise her family. >> i was born here and grew up .ere like a lot of young people i left for school to study abroad broad. the idea was always to come back to casablanca. >> lunchtime is an opportunity to relax with colleagues. she likes the life. >> on a financial level, i am losing, but on quality of life i am winning. people in london and paris aren't necessarily happy with their jobs. here in casablanca if you are good you will fi

financials. this is private equity. you know what, this portfolio also needs a pharmaceutical.portfolio, we sell regions and we buy j&j. "mad money" is back after the break. >>> tomorrow, kick off the trading day with "squawk on the street" live from post 9 at the nyse. >> i know you watch tv 4.5 hours per day. that's what actually america does. >> it all starts at 9:00 a.m. eastern. >>> don't ever say this market doesn't give you chances to get in at terrific prices, prices you may not even deserve. take yelp. last week i told you to be ready for yelp to report a terrific quarter and announce a secondary stock offering to fund its global expansion. that's what the company did, selling a ton of stock today that knocked the online yellow pages down a couple points to where you could snare some yelp at a price that could be considered a steal when we look back not that long from now. take yesterday's show, where i revealed the pattern the market follows. for days we rallied into the fed meeting, as we were confident bernanke would leave the money policy unchanged because the econ

well, unfortunately, our senior financial director, michael hudson, is really the mastermind behind the portfolio us, but we really have three main things that are helping us outperform. one is a decreased correlation to the s&p. we're focused on finding stocks that aren't correlated to the broader market and generating some real alpha. melissa: wait, wait, hang on. i've got to ask you, the market has been going up. do you not believe that the market's going to continue to go up in general, the s&p, based on what the fed is doing and based on the fundamentals and the economy? >> right. well, one of the things we've really been looking to, we're overweight industrials right now, and we're looking for companies that are adjusting their capital structures, taking on more long-term debt before the tapering of the quantitative easing program, really looking for companies that are looking at the macro view and adjusting accordingly. melissa: okay. and what's the rest of your strategy? because i interrupted you in the middle. >> the other thing we've been overweight on is consumer discretionary. under a

we're fairholme, we have a portfolio, mostly in financials hurt by the residence property bubble.our aig position after helping the u.s. treasury restructure that institution. we're still in our position in bank of america, where we've helped in the restructuring of that institution. there are companies still tainted by five, six years ago. they are still incredibly cheap and we stay with them. they're essential franchises, hence their significance, and they have an awful lot to give. over time people are going to focus more and more on their assets as opposed to their diminishing liabilities. we've had very little movement in the portfolios. our last significant investment has been fannie and freddie because now is the time. >> you've bought even more since we last spoke, haven't you? >> yes weeks have. we have $3.5, $4 billion of its preferred par value and we own the common shares of both. it's clear to us that there's value in all structures. >> what happens, bruce, if the congress decide, you know what, we're just going to wipe that out? >> well, in all honesty, i would have

portfolio. now the most heavily weighted sectors in the fund are technology, financials and industrials. that mirrors the way the s&p 500 is set up, although the fund favors industrials slightly more than the overall stock market. and as for the biggest holdings, perhaps no surprise here. the biggest holdings so far in the fund according to vanguard is apple, of course. that's followed by exxon mobil, then microsoft, johnson & johnson, and then general electric. now the top ten holdings of the fund make up 14% of the overall weighting. the stock market is near record highs and there appears to be more risk appetite returning to the markets, but that begs the question, sue, is that a possible contrarian indicator or perhaps a sign at least for a near term top for stocks. >> we will talk about that right now. bob and kenny are here with me and kenny, you know, is this the rotation that we've been waiting to see out of bonds into stocks? >> it certainly feels like it. look, the vanguard fund is up some 37% year to date and the pimco not so much. a negative number in front of it. considering

financial engineering. >> what's your sense? you're looking at this market and really selectively actively trading your portfolio, the portfolio - an active guy. >> i'm always active. the point is my turnover in asset portfolio is 7%. which means i love them and keep them. >> i'm talking about you compared to an etf, which you said if you're dumb enough to buy an etf because that's passive. what's the metrics you look at? what's the most important when picking stocks? >> maria, it's patience. if i and you bought the island of manhattan, we would have paid $24. today it's worth like $10 trillion. it was a 5.5 % kegger but it's a holding period of 400 years. if you and i bought a painting, like a warhol painting that's worth -- let's say campbell's soup worth $35 million, we would have paid like $7 million and we would think we were doing well because we didn't market to market every day. i can buy a campbell's soup stock and earn 8 % to 11% over the next ten years. how do i preserve your wealth and how do i grow it in inflationary uncertain environment? good companies run it, good pricing power and good asset allocation. >> good

investing and portfolio management organizational and funding structure and investor relations geitner played a central role in the government's response to the two thousand and eight financial crisis before becoming treasury secretary of two thousand and nine prior to that he led the federal reserve bank of new york for more than five years. and finally the world's largest futures exchange the c.m.e. group said that its clearing service for energy and other swaps was hacked back in july of this year sparking a federal criminal investigation now certain customers information relating to the chicago mercantile exchange as we report service that was compromised now clear port that handles contracts mainly tied to energy however there is no evidence that trades on the mercs electronics system were adversely impacted or that any other clearance services were disrupted where port handles nearly half a million contract million not billion half a million contracts a day well there you have it we'll be tracking these stories and keeping you posted on all the latest. in the past few years the demand for corn and soybeans paired with historic droughts and bad weather drove crop prices

investing and portfolio management organizational and funding structure and investor relations geitner played a central role in the government's response to the two thousand and eight financial crisis before becoming treasury secretary of two thousand and nine prior to that he led the federal reserve bank of new york for more than five years. and finally the world's largest futures exchange the c.m.e. group said that its clearing service for energy and other swaps was hacked back in july of this year sparking a federal criminal investigation now certain customers information relating to the chicago mercantile exchange is where port service that was compromised now clear port that handles contracts mainly tied to energy however there is no evidence that trades on the mercs electronics system were adversely impacted or that any other clearance services were disrupted where port handles nearly half a million contracts million not billion half a million contracts a day well there you have it we'll be tracking these stories and keeping you posted on all the latest. in the past few years the demand for corn and soybeans paired with historic droughts and bad weather drove crop pric

investing and portfolio management organizational and funding structure and investor relations now governor played a central role in the government's response to the two thousand and eight financial crisis before becoming treasury secretary of two thousand and nine prior to that he led the federal reserve bank of new york for more than five years. and finally the world's largest futures exchange the c.m.e. group said that its clearing service for energy and other swaps was hacked back in july of this year sparking a federal criminal investigation now certain customers information relating to the chicago mercantile exchange is where port service that was compromised now clear port that handles contracts mainly tied to energy however there is no evidence that trades on the mercs electronics system were adversely impacted or that any other clearance services were disrupted where port handles nearly half a million contract million not billion half a million contracts a day well there you have it we'll be tracking these stories and keeping you posted on all the latest. in the past few years the demand for corn and soybeans paired with historic droughts and bad weather drove crop price

investing and portfolio management organizational and funding structure and investor relations now governor played a central role in the government's response to the two thousand and eight financial crisis before becoming treasury secretary of two thousand and nine prior to that he led the federal reserve bank of new york for more than five years. and finally the world's largest futures exchange the c.m.e. group said that its clearing service for energy and other swaps was hacked back in july of this year sparking a federal criminal investigation now certain customers information relating to the chicago mercantile exchange is we are port service that was compromised now clear port that handles contracts mainly tied to energy however there is no evidence that trades on the mercs electronics system were adversely impacted or that any other clearance services were disrupted where port handles nearly half a million contracts million not billion half a million contracts a day well there you have it we'll be tracking these stories and keeping you posted on all the latest. in the past few years the demand for corn and soybeans paired with historic droughts and bad weather drove crop pri

they need to look at their entire portfolio currencies, not guess when the correction krone is going to depreciate. how do i make sure that doesn't impact my financialtement? you and i have been talking about this for the last couple of years. the great thing about it is more and more people are obviously listening to your program and are doing very well. our company's up over 50% growth just for the year because an increasing amount of companies are understanding it isn't about the five major currencies against the dollar, it isn't about guessing which currency is going to go up or down, it's about managing currency risks properly to not have surprises. liz: before we get to who won and who lost at that very difficult game, how do you manage such a thing? >> you manage it by understanding all your exposures. so if you start on the balance sheet side by really understanding where all your exposures are, and the secret to success here is make sure that you have a complete set of accurate data, and that's the most difficult part of this entire risk management process. where are all these currencies? there are companies who have 900 currency pairs -- 3

, would be how much interest rate risk we're taking on by having a large portfolio of long-term securities and possibly financialnet yellen has been nominated to be chair. what criticism of her has been that she is the person who spearheaded the communications policy that we're having so much difficulty with? is she at fault for this? is there something that should have been done differently in your opinion? >> i think we're in unusual times. we've not been in a situation where we've been exiting from a large balance sheet. and as a result, it's going to take trial and error to get the communication correct. i think that's a problem for the bank of japan, it's true for the ecb, bank of england and true for us. because many of our actions have been somewhat experimental, i don't think you can blame it on one individual, i don't think you can blame it on any one bank. we're going to have to learn a little bit by doing. >> thanks for joining us. congratulations again on the world series victory which was engineered, we understand, guys, right here from the boston federal reserve bank. back to you. >> all right. ste

. >>> still to come, japanese financials have raised full year forecasts as a rally in the stock market has boosted portfolios. but what's the underlying performance? more to come. >>> uk retail sales showing a surprise fall in october, hit in part by marched weather. retail sales volumes shrinking 0.7% on the month to show 1.8% growth on the year. that's much weaker than expected. there was a consensus of 0.1% and up 3% on the year. we're flatten up 1.3% on the year. consumer spending has groan for much of this year despite inflation outstripping wage growth. data showing inflation coming up 2.2% in october. earnings are 0.7% in the three months to september, as well. so rather disappointing closing sales. in particular down 2.8% on the month. that probably r. tess mild weather officials are suggesting. we had hot weather which spurred heavy spending in july before tightening the purse springs. but there was no rush to buy big, thick woolleys. because the weather was unusually mild. that may change this month. reports of fronts coming into the uk. >>> now, portuguese gdp, third quarter gdp contracting 1% yea

portfolios are pretty straightforward. half their investments are in stocks. about 30% in fixed income. 10% hedge funds. about 10% private investment. more alternatives than the average joe. during the crisis their financialll 45% and their other investments did almost as badly. total wealth falling 40%. the big mistake they made at the crisis was not rebalancing. many actually sold stocks at the bottom of the market in the spring of 2009. the study's authors note that, quote, they do not appear to have particularly good skills as a group to anticipate market movements. we don't know how they've done since 2009. if they've just kept pace with the market they've done better than the rest of the market which owns fewer stocks. when it comes to stock picking, the rich are not -- >> peel back the expensive clothes, they're just like us. >> finally, a report from me that makes everyone else feel better about themselves. finally. >> finally. >> thank you. >>> coming up next, things get very ugly very quickly during a california race. the unbelievable outcome of this incredible video, next. it's as simple as this. at bny mellon, our business is investments. managing them, moving them, making them work. we overse

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financial statements. the average consumer, the balance sheet is in good shape, but the income statement is under pressure. the debt burdens are down, but the asset values are up, so their home value and their portfolios are higher. if you look at household's net worth, we're looking at near or all-time highs, but the income statement is different. disposable income growth is negligible and pressures on costs, health care and taxes. we're a bit cautious about the consumer discretionary spending environment, at least more cautious than we are going into the holiday season. >> no denying, are you surprised that consumer discretionary stocks have held up, as well, in the face of the headwinds that you just lay out, one of the best performing sectors year to date? >> we're a little surprised. it's been a few years in a row the stocks have outperformed by a good amount. we think there are some opportunities out there. we think you need to be selective. there's a few areas where we think there are tailwinds to help us along. one is the housing market and spending on housing. if you look at residential investment as a percentage of gdp, or as a percentage of disposable income, we're still way below normal le

financial stability threats, but environment of low interest rates can reduce risky behavior, and i would not rule out monetary policy having a role. >> welcome, governor. would you describe the portfolio of the federal reserve as unprecedented? >> yes. and you are also the chairman of economic advisers? looking back on recent history, have you noticed any portfolio of the fed approaching what it is today? >> not that the federal reserve. >> that's what i mean. >> but other central banks. >> i am asking about the federal reserve at the united states of america. >> no. >> would you describe what you are doing? you describe quantitative easing. is that the stimulus for the economy? you use the term monetary tool. is that what you would use to stimulate the economy? >> it is attempted to push down longer-term interest rates and stimulate demand in spending in the economy. >> is this something they have espoused over the years when you have high unemployment? >> i don't know about if the canes thought about it. they have written about something that is basically supply and demand, buying asset, then it may be possible to push down there yields. >> it was said several years ago that china w

potential financial stability environment of low interest rates can reduce risky behavior, and i would not rule out monetary policy having a role. >> welcome, governor. would you describe the portfolio of the federal reserve as unprecedented? >> yes. and you are also the chairman of economic advisers? recent history, have you noticed any portfolio of the fed approaching what it is today? >> not that the federal reserve. >> i am asking about the federal reserve at the united states of america. >> no. >> would you describe what you ?re doing you describe quantitative easing. is that the stimulus for the economy? you use the term monetary tool. is that what you would use to stimulate the economy? >> it is attempted to push down longer-term interest rates and stimulate demand in spending in the economy. is this something they have a spouse over the years at times when you have high unemployment -- they have espoused over the years when you have high unemployment? about if theow canes thought about it. they have written about something that is basically asset,and demand, buying then it may be possible to push down there yields. >> it was said several years ago that china was buying our b

financial panic, some kind of outbreak of inflation expectations for gold to actually go up? to be at 1700 given $17 trillion in debt? >> gold should always be part of your diverse portfolioflation. but in times of economic uncertainty like over the last four years, it also becomes a safe haven for economic catastrophe. dennis: yeah. so you're either betting the economy does well enough to finally let inflation break out and i need to own gold, or you're betting on armageddon, in which case i need to own gold. now, as to what kind of gold you own, a lot of people like this gld etf. i can't use it to turn in and get physical gold. you guys sell physical gold, and yet if i buy it from you, where am i going to store it? >> well, most individual investors store it in safe places in their homes so they have access to it or a safety deposit box with. for those who buy a lot of it, they find depositories that will keep it pretty safe. the mints had the best in the world which is fort knox which i can guarantee you is really safe. dennis: but then i can't get to it if there's some kind of nuclear briefcase attack. i clearly need it under my bed. >> that's the big advantage of buy

portfolio now heading towards the end of the year? quincy crosby is a market strategist with prudential financial, which has a trillion dollars under asset are you telling investors now, adam? >> well, i think it's a matter of getting into the right areas. a year ago, simon, everybody thought that supervalue was uncompetitive, the stock was down to $2, best buy was just a -- as far as showroom for amazon.com, and nokia, everybody was writing off. those three stocks are among the best performers this year. and i think you could see the same thing. you know, instead of chasing the teslas and many of the companies that have done so well, what we're telling our investors is, you know, buy where there's value and lesser risk, where you can still get good appreciation. >> i mean -- >> we see that in a nuance communications, you know, which is hitting a new low. healthcare reits, and, also, a company like compuware, yielding 4%, 5%, so that's a good place to be in the market, for those getting slightly overvalued. >> we keep talking about the nasdaq surge, which has been driven, as you infer, by the likes of tesla and netflix. and we've seen th

portfolio? let's talk about that. his investment strategist, the chief trader there in washington, d.c., where all the action seems to be lately. what about these job cuts in the financial sector, what is the effect? >> we should not be surprise at all. this is what has been happening for most companies and for the financials over the last two years. companies are growing earnings without growing revenue so how do they do that? i have been cutting back, getting the low growth, low yielding and low revenue environment. we will see more of that going forward, cost-cutting and higher earnings but lower revenues. connell: thedea of do more with less is not exclusive to financial service companies. you look at how they're doing today, for the most part they are higher. you mention something that is key. this search for yield, everybody wants to find it, it is hard to find with the rates as low as they have been, the treasury market so where do you go now? >> unfortunately my best bet is what everybody else is best bet also. the equity market. that is where all the money is going to. are we concerned? are we concerned with floating down and economy? maybe. or concerned with t

portfolio tracker and content tailored to the user. shares of yahoo! at the e% in the last year. takeover target, j.t. weighing is stepping down taking the blame for poor financialwill takeover in january. the computersmaker reported less than stellar third quarter earnings and will cut hundreds of jobs. it has been unprofitable, greatly impacted by the slowdown in global pc sales and playing catch up agenda backing mobile, video and picture sharing platform akin to instagram. the company is leading a $60 million round of financing that comes along with the ability to distribute the apps to america. is real has had several celebrity endorsements, toby mcguire, leonardo dicaprio, tracy byrnes and the real williams invested $6.5 million, the addition of sixty million pushes the valuation to be $1 billion mark. tracy: they are using it so i would back the bad $2 to rub together, i would back the kids because they are using it. maybe on to something. how about this? stripped down. not adam. the future of your cable-tv package. it is going to look very different and dennis kneale with the internet invasion and the cable space is next but first take a look at today's

portfolio managers, some of you who you met. >> yep. had them on the air. >> absolutely. >> in that regard, we like financial engineering, subset of that,time warner, down 50%, secondly, newscorp dropping stock, viacom shrinking substantially. recovery, each of these stocks because of the rising middle class around the world and the notion of having that mobility in their hand and want content, you'll see the stocks double. >> hold on, time warner. >> i like all four of them. >> newscorp, viacom and discovery. >> they'll all crumble. >> okay. >> in five years -- >> cbs? >> i like what he's doing but for a different reason. in the broadcasting area, like consolidation, media general which has already tripled this year will again double in the next three or four years. >> media general's going to double. hold on, now we've got five. >> oh, i give you more. >> these are all going to double. time warner, newscorp. >> total return of 14% gives you a double in five years. so combination of dividends and cash flow and the stock prices in part driven by the use of cash flow to buy back stock. another one, when a management change, you talked ab

financial services companies that help to manage those funds are providing more information and a more accessible format and obviously you can't sit someone down and give them a two-hour lecture on what the portfolion will be. so it's very much how do you deliver this information in a way and usable pieces at the opportunity for people to absorb it and apply it and that has to be an ongoing process associate employment environment, the educational environment, being aware of this is the ideal place to be doing that. >> another thing i was struck by was the retirement and hump americans -- have fewer feeling confident they can live for the future and plan to that. you have done a lot of this and how have you seen that change over the years that you have been doing that research? >> one of the things my company does is that retirement survey. since 1990 when they serving the public annually on issues pertaining to retirement. one of the striking things was the great recession and living comfortably in retirement. in 1995, 87% of the public said -- workers said that they they're not at all confident that they can afford this throughout the retirement. and it was 10% that were not confident in 2007 in

financial services companies that help manage the funds are provided more information and at a more accessible format. obviously you can't sit somebody down and give them a two-hour lecture on what their portfoliog to be. so it's very much how do you deliberate disinformation in a way in usable pieces as an opportunity for people to absorb it and apply it and that has to be an ongoing process. the retirement statistics about how americans are prepared for retirement, how healthy americans feel confident that they can sort of look to the future and plan for that. we know that the research firm has done a lot of polling on social security how have you seen that change over the years that you've been doing that research. one of the striking things is that drop since the great recession and people's confidence in being able to live comfortably in retirement. they said of the workers they said that they are not at all confident that they can afford to live comfortably throughout their retirement. it was 10% in 2,007 into this year it is 28%, three times as much. and in response, we also see the plan to work longer. in 1991 we found 11% of the workers plan to work to 66 were longer and that which is

financial sector. but david blood was a bundler for barak obama and even though they talk about being in green technology, 27% of their investment portfolioompanies designed to profit from the sector. the same thing goes for private equity firms. something like evercorp. partnered, headed by roger altman, a bundler for the obama campaign, they're set to cash in on what everybody is saying will be massive mergers between hospital companies, et cetera. wall street firms need to broker those deals and a company like evercorp. partners is perfectly positioned to do that. >> peter, we certainly are shocked to hear some of this, but not surprised in some way. your book, going to open a lot of eyes. we thank you for opening ours this morning. >> thank you so much. >> look at that. al gore not only invented the internet, now he's making money off health care. isn't this a great country? >> in other news, a navy seal was killed in a deadly chopper crash in afghanistan. his parents now saying the white house is to blame for covering up a a taliban ambush. they want answers and they are here live next. >>> you're looking at the most expensive artwor