>> i think that hank smith nailed it in his previous comment. when you said you have an element of certainty. a monetary policy where there is no certainty of fiscal policy. also, you have taken off the table what monetary policy will be for the next several months. there will be $40 billion each month, purchase of mortgage-backed securities. what you have provided is the element of certainty. there are two issues. number one is the psychological boost to it, i think that is very clear. what we have yet to determine is the extent to which it will drive down long-term rates. however, i think what is very important is that when we first considered this issue, he would start out by saying that i'm going to have to have a half trillion of investment in order to achieve that, and if we don't get there, will it have failed. but they said we will do it in 40 billion-dollar increments per month. i think it was a very wise approach. >> there is a huge question we have a portfolio of close to $3 trillion. when this is all over, it might be up to $4 trilli

. >> hank smith, what do i think? i would be afraid to get in front of any market train because the rally still has momentum? sure, we're seeing down day to day but it is the jewish holiday, volume on the light side. how are you invested going into second half? >> well, maria, i agree with you. two market adages. the trend is your friend and don't fight the fed. we found out late last week, the fed is all in for a long period of time. so, that is a huge secular macro trend i would not get in the way with that -- i would not get in the way of. doesn't mean we won't have pullbacks but we think the direction is decidedly up, unless there is a geopolitical blowup. of course, there is that risk. we saw over the weekend china and japan flare up a little bit and everything in the middle east that's been well covered. absent that, the trend is your friend. >> todd schoenberger, you would get in front of that trend, wouldn't you? you've been skeptical of this market all along. >> i have been but i think ben bernanke just made

smith. his fiancee a former reality tv star issued a statement saying plans are pending. >>> tom hanks said, loss of big mike. he was the treasure we all discovered on the set of the green mile. he was magic. he was a big love of man and his passing leaves us stunned. >> michael clarke duncan was 54 years old. we'll be right back. any time z, you're going to have jet lag for months. now sink your teeth into that big n' toasted if you're to soar. good. exits are here, here, and here. a big day calls for the big n' toasted breakfast sandwich, with fried eggs, cherrywood smoked bacon, and cheese, stacked high on texas toast. grab yours at dunkin' donuts. it's a breakfast favorite. start your big day with a big n' toasted breakfast sandwich from dunkin'. bebetter phone, better internet. it was like somebody like took our computer, shook all the junk out of it. we're actually getting more for our money with fios. [ male announcer ] it's time to get more for your money. upgrade to verizon fios internet, tv and phone with our best price online. just $84.99 a month, guaranteed for one year with no a