it's not all greece ireland and russia, is it? >> our global tactical etf trades everything.ocks. we would be more long foreign as trends improve and they have in the last few weeks. we have some in real estate commodities were underallocated and then a good chunk, about 40 percent in cash and bonds. >> good to speak with you. thanks for your time. would you go and invest in greece right now? >> if you have a ten year time horizon, yes. it's probably the place to be. >> it's not "fast money"? >> it's slow money. >> coming up next could the release of the new jobs film tomorrow give apple more shares tomorrow? in today's markets a lot can happen in a second. with fidelity's guaranteed one-second trade execution we route your order to up to 75 market centers to look for the best possible price -- maybe even better than you expected. it's all part of our goal to execute your trade in one second. i'm derrick chan of fidelity investments. our one-second trade execution is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an a

doubted my call that europe has turned, but the strongest markets of late have been spain, italy, greece, ireland, portugal, all up double digits since june performing substantially better than the united states. two years ago, we were worried that spain was going to default on its debt, now the debt is a worldwide favorite. it was supposed to be so dire, well, 2/3 complete for 2013, greece is running a surplus for heaven sake. those people who bought italian bonds who caused the dow to go down 400 points in a single session 19 months ago, well, they've made fortunes. the euro, is now doing remarkable, bottomed a year ago. the reason the strength in the euro has been attributed to worries about the u.s. economy. please, that's just the press being too negative again. it's europe's strength. not u.s. weakness that's driving the currency. the turn in europe is happening so swiftly that u.s. companies just reported beginning to see the strength, only in the mid part of the quarter. that's right, they saw the strength only in mid quarter taking companies so by surprise, they're mostly in disbelief. m

around 24 right now after the great rally, but a lot of countries in europe, spain, italy, greece, irelande digit levels think there's a lot of opportunity right now. >> well, right. what you say about the u.s. being at roughly 24 against the 17 average level, and other countries like europe, in europe, single digit pe's, however, isn't it so much more risk? >> so u.s. is allowed to be a little more expensive right now as long as yoir in the safe inflation zone of 1 #-3%. once you get above 3%, there's a yellow flag. above 4%, that's a red flag. you have huge pe multiple compressions. the risk is out with markets declining, and in the case of greece, 80-90%. you are getting the blood in the street type atmosphere where all the bad news is priced in and buying at really cheap levels. >> give us exact investment ideas. i know you have your etf fund. where do you suggest now is liquid etfs, you can get exposure through foreign emersion down to the country level, and be careful because they are smaller, but as long as you invest funds that are liquid, the ireland, greek, etfs perfectly accepta

yes in fact the people who run europe already warned spain and portugal and ireland and greece look if this happens to you we're going to raid depositors accounts so you know it will be f.d.i.c pay back everybody i don't think so the fed has said several times that they want to government to get their houses in order so they can shore up banks here in the united states i don't think the fed is going to do it i don't think you can do it so i think we're in a real crisis period and you know cyprus was a little a little glimpse into the future just like two thousand and eight to me was a glimpse into the future shot across the bow told us what it's going to be like when things do do implode ok let's let's take a look at the united kingdom for a second because a marconi just took over as bank of england and he's saying that they're going to keep rates low for the next couple of years ago so called forward guidance he sees recovery and by recovery he means an improvement in house prices and stock prices i think what you know you'd characterize that as speculation but it going forward what i

the same thing with bonds of troubled european countries ever since the problems with greece, portugal, spain and ireland began, or we see it in stocks in our market because of deficit funding or debt ceiling issues or, of course, the sequester. sure, when things are good, we forget about the pernicious impact. impact of aggressive shortsellers without limits, but they are bad, we feel them. shortsellers aren't the only risk. to make matters worse, we have the proliferation of eps of mass destruction. double, tripled levered, exchange traded funds that give you two or three times the short-selling bang for your buck. these are etfs that exist for day traders. that's not the point of our stock market, is it? they don't work for long-term or medium-term investors because they rebalance every day. take the skf, the ultra short financials pro shares, an etf that lets investors short the financial sector stocks with 100% leverage. you think this etf would've made people money during the financial crisis, right? i mean, all the bank stocks got pulverized. many got wiped out. wouldn't this be the instrument of

. >> the strongest markets in the world of late have been spain, greece, italy, france, netherlands, ireland, portugal. buying an outsized position in the etf that invests in the largest european equities. ubs and barclays, to me they are off to the races. >> all righty. abigail, you said earlier that one report does not a recovery make? >> correct, and i would be a bit cautious here. investors want to see follow through and when i look at daxx it looks as overheated as the u.s. equity markets. ben is talking about this correction everybody is expecting the technical side. weakness in the transports and industrials showing it may come. one bright spot for both europe and my mind, the energy sector. crude is above $100 per barrel, and i think that it's actually going to climb higher. if this is a fact it could flow right to the bottom line of the major oil companies so i really like totale, royal dutch shell and will even throw in bp there. i think you can see those stocks higher within two or three months. >> do you feel better given what people have been talking about the last two or three

you see political experiment fail and therefore greece has been left just like cyprus just like other countries that have received bailouts like ireland they are being sacrificed out the altar of a ludicrous national political statement or supra national political statement. the harshest energy policies implemented by the greek government may not have seen much economic return but they've had a very real impact on files and people's lives many of those out of work find themselves entering a downward spiral in some cases ending in extreme poverty and substance abuse and authorities opting for radical ways to deal with the fallout you got to pick it up as a story. used to be out of work now he's still unemployed but also on heroin is homeless and has aids he's already tiny chances of getting a job have vanished completely. some start using because they are angry at life no work no money for the same reasons many decide to start selling drugs but end up using the needle themselves. every day drugs rock the lives of new people with just one many thought they'd hit rock bottom it's a very to hear gunfire and they're everywhere. and as far

greece and italy. spain, portugal, and ireland also face mountains of debt.h unemployment and home mortgage failures and foreclosures continue to plague millions of families. natural disasters in 2011 destroyed cities and communities. in 2011, the united states suffered a record number of disasters each costing more than a billion dollars according to the national oceanic and atmospheric administration-- noaa. on march 11, 2011, the 9.0 magnitude tohoku earthquake and resulting tsunami in japan caused record damage. more than 15,000 people died in the disaster, and hundreds of thousands had to evacuate the region because of several meltdowns at the fukushima nuclear power plant. the world bank estimated the cost at $235 billion making it the costliest natural disaster in history. we are facing stresses and crises around the world that frighten us. will we be able to face the future with faith? your bible gives encouraging answers to this question! your creator in heaven loves you and wants you to trust him for your future and your life. you can have faith if

said europe could drive the next leg of the bull market, noting the markets in portugal, italy, ireland, greeceand spain, the pigs, they are flying. they're up double digits since the two-month low in june. listen in. >> the turn in europe happened so twistly that u.s. companies just reported begin to seat strength only in the midpart of the quarter. that's right. they saw the strength only in midquarters, taking companies so by surprise that they're mostly in disbelief. most notably the gigantic auto companies like ford and gm. >> it is really something to think of those markets being up double digits since then. this is all relative to expectations. but a quick turn and that comes at a great time for here in the united states. >> hthis is a huge story. there is skepticism and i'll throw a little cold water on jimmy's idea, which is that the whole peripheral europe story has been quieted ahead of the german elections. and michelle caruso-cabrera's contention, this story explodes post german election, sometime in september, and these issues haven't been solved and they will involve again anothe

as the political experiment failed and therefore greece has been left just like cyprus just like other countries that have received bailouts like ireland they are being sacrificed the altar of a ludicrous national political statement or supra national political statement with most of the still in the grip of recession it's the smallest banks that are taking the biggest hit however artie's peter all of a travel to a small german village to find out how one bank is managing to stay afloat. it's not all big city banks with bailouts bonuses and big shots in rural germany this small town has all its financial needs taken care of by just one man with only nine hundred customers peter believes he can offer something that big banks can't go yes to personally people get a personal service here i know everyone who comes in of course i do or they are my neighbors so this means there is a big trust and the are just a number or part of a money making machine when our t. stopped by at this one month bank we found that the man in charge wasn't alone the regulators were going through the books like they do in every other european bank people have to a

greek economy the same thing happened in spain portugal and ireland all the countries that took the strait jacket off. of the monetary union. greece already owes a whopping two hundred forty billion euros and want some of the term slack and now all of which comes at a sensitive time for arguably its main banker germany with the federal election just around the corner election candidate hugh bronson from the alternative for germany party told me how it's playing out with the politicians. angela merkel is still the darling for many german voters but she is facing increasing opposition not just from other parties but also from her own party members who keep asking very uncomfortable questions like why did we breach the maastricht treaty why do we why do we continue to pile up millions of pounds of euros in debt just to help southern europe when our own infrastructure is is suffering we need huge investments for the railways for the out calls for the famed out and people just wondering how all this will pay out in the end we don't want to see greece out of the views which is the european union we would like to give them the opportunit

economy the same thing happened in spain portugal and ireland all the countries that took the strait jacket off. of the monetary union. well greece already owes a whopping two hundred forty billion euros and it wants some of the term slack and all that which comes in a very sensitive time for arguably its main bank in germany let's go there now should we talk to election candidate who brought in some from the alternative for germany party who thought the time to be where this was one of the masterminds of the bailout how far would it still be prepared to go the to put more money into it that's the question. well it really depends on whom you are asking if you are asking the government the conservative and the liberal party they are prepared to go all the way just look at the and mr mario draghi who promised to do whatever it takes to save the euro. if you ask the social democrats and the green party who are the main opposition parties they are prepared to go even further than all the way they are planning to introduce euro bonds now everyone knows that euro bonds will put additional risk to german bones but if you ask mr and mrs

economy the same thing happened in spain portugal and ireland all of the countries that took the strait jacket off. of the monetary union of greece already you know was a whopping two hundred forty billion euros and once some of the terms slack and all of which comes at a sensitive time for arguably its main banker germany people all over is in berlin to find out how people feel about how their money's being spent on countries other than their own. more and more we're seeing senior figures from the world of european finance coming out and saying that they think that it's almost inevitable that greece will have to have a third bailout if it's to try and ease its a ling economy but particularly here in germany that is something that would be looked at germany has been one of the major contributors amount of money has been come out of the taxpayer coffers in order to to help out their neighbors in the south however when germans have been polled about whether they would agree should receive this type of money well overwhelmingly about sixty two percent of them have said no that they shouldn't be getting any more money from germany it

greece. it looked like it was going to zero. it's up 21% in two days. >> bank of ireland>> it's not that far from zero when they did that. >> gaventic reverse flip and diluted the -- >> it is reminisce sent to me. how about banc of america? you want beta be with bank of america, get more upside. >>> we are taking a look at seaworld out with its first earnings report since its ipo. >> i don't think this stock will dump. it's a seal. it will jump through hoops for you. >> it looks like bait to me, physically. if you look at the chart, 35 is important. but it can't get through the 39 level. so i really don't know what you would be buying it for. >> do have you is that written down? >> no. it just came. tim would put me to slope. >> coming up tonight. the viewer tweets making today's "fast money" live after this. stay tuned. before their gift helped preserve the point... before a credit solution was used to expand their business... before trusts were created for their grandkids' educations... they chose a partner to help manage their wealth... one whose insights, solutions, a

greece? >> you are wondering if that kid is reciting the capitals of countries? >> yes, he is. >> amsterdam. >> he knows 50 world capitals even though he is learning how to speak as you can tell. >> irelandan -- czech republic. >> and if you get them teaching them early and several languages they will soak it up and remember it for the rest of their lives. >> well, let me give you some numbers here. he is about 17 months old so he will be the national geography beecham pi yon. >> and bahamas, nassau. >> so if you want your kid to do well in school, get going early, because this kid is not in kindergarten. >> afghanistan, kabul. >>> and guys, the two favorite things on the planet are beer and cute ladies. >> two of the favorite things and we are not that simple. >> this is courtesy of the tipsy bartender youtube channel, and we have had him on the show before, and that is a blond german girl in a bikini pouring 360 cans of budweiser into a bathtub. >> i don't know if i approve of this. i'm a fan of the old budweiser king of beers. >> we enjoy a few of them. >> and she is sipping on the brew while she is filling up the tub. >> my brain is fighting itself right now, because i love it. that

greece? you really are fearless. >> we haven't done anything yet. we've been just studying it. ashley: you did very well with the bank of irelandk of ireland has been very good so far. it will be even better as time goes. ashley: what about the spanish banks, in particular that you like? >> well, the spanish government has done a pretty good job, first of all, fixing the economy. they changed the labor rules a lot. we have some factories in northern spain. we see the productivity increase. so it's not just government pr. it's true. second, they have done a pretty good job also, good bank, bad bank, removing the bad aset cetera from the surviving banks. and then, third, they have consolidated banking industry. it had been, half of it was divided among a very large number of little savings banks. now they have -- ashley: chronically high unemployment. does that worry you at all and impact on the business community? >> it is chronically high but i think it is overstated. you go around barcelona and go around madrid, doesn't feel like 2% unemployment. doesn't feel like 50 plus percent youth unemployment. i think a lot of people are