. >> jason wheeler shows you how they are combining science and pe. >> today we'll go over alternative energy. >> reporter: sitting in on this fifth grade science review we could not help but think how fitting it was that they were covering alternative energy. >> solar energy. >> reporter: because this learning space itself is pretty alternative. and definitely requires energy. >> it is really hot. >> reporter: aaron's classroom started out two years ago with a single treadmill. >> it has been progressing. >> reporter: now it is outfitted with $25,000 of exercise equipment some donated by parent and the pta. third, fourth and fifth grade students listen to reviews here of what they covered in science a week before while they work out. when they hear the bell they move to a different machine and a different part of the lesson. >> i wish we learned like this all day. >> reporter: caitlin loves it but admits she didn't hit the ground running. when she first heard she'd be learning while exercising. when i got here and saw the stuff i was excited. >> reporter: the idea to create the so-cal

wheeler says labor. this is a structural shift. jasonces, we are a small investmentocusing on advisors and institutional investors, but there have been real changes. in many ways, the entire business is shrinking for now. i do think it is not over. but the business is more cyclical. i think people find the business more cyclical than it was in the past. for a long time, it seemed like it was secular growth, and now it is turning out to be cyclica. caroline: jason, caroline in london. you talk about the risk reward positiveg particularly for stocks. when will it be more positive? jason: it is a good question. -- reusing $120 for the s&p 500 operating earnings in 176, and then we are using as a multiple for the s&p 500 this year. but in theigh, context of low interest rates and low inflation, our economy models would suggest you get something quite a bit higher than that. models wouldetric suggest you get something quite a bit higher than that. to answer your question, i would 18.50mething more in the range. given some of the macro headwin