what is the jacob frenkel prescription for vladimir putin? b: those who read the ,ritings of a man here in davos found the answer to that question is simple. look at his statements. he was the minister of finance. he had a great program for structural reforms in russia. reforms all over the map. it is not the central banks. are you: how worried that the price of oil is not only oversupply, but symptomatic of a global slowdown? jacob: it may be some of the above, some of both. by and large, the fact that the price of oil has fallen so there is a lot of expectations that are built into it. a lot of thinking, what will he run do now that the sanctions are over? what will oil do? those things do not happen overnight -- those long-term changes. francine: you're not expecting a slowdown? jacob: i do. a slowdown, definitely. not a recession. the a nine it states is going to plus percent. is rolling.d states 2 plus percent. game,his is a serious regarding new mediocre talking about global recession. when you speak to jamie dimon, how close are we to a

jpmorgan chase international jacob frenkel said the u.s.-- >> i think that we are seeing slower growth in china. no question about that. but many other countries look good, europe is getting better. it's still slow. the canadian outlook is positive on the outlook today. that's enough to power through the uncertainty that we're seeing right now and should have solid spectacular growth throughout 2016. liz: okay, and jeff reeves? when you look at that, you say where are the opportunities? what looks good to you? what looks cheap right now? >> funny, i was looking before the show, i'm a crazily going to make a call on jpmorgan. i think it's trading for less than tangible book value. there has been challenges for the financial industry. branchless banking and all that stuff. lots of layoffs but the second straight record annual profit on jpmorgan. i don't think it's a bad play right now. and you got to remember too, with the junk, it's not on jpmorgan's books, they may run the bonds. call me crazy, but if you're asking for a bold call, i don't