coming up wall street veteran john calamos is speaking with us to find out how he's navigating these wild swings and what he's buying with his 20 billion in client money. >> always looking forward to talking to john. also, when we come back former fdic chair sheila bair will weigh in on the nation's banks. the talk about breaking up the banks is only getting louder. stay tuned for our interview with her coming up on "the closing bell." stay tuned. you can find a new frontier. there's nothing stopping you and a lot helping you. technology that's with you always. this is our promise. it's never been better to wander because wherever you go, you'll find us doing everything we can, so you can. if you're running a business legalzoom has your back. over the last 10 years we've helped over one million business owners get started. visit us today for legal help you can count on to start and run your business. legalzoom. legal help is here. ♪ [epic music] ♪ introducing aleve pm... the pm pain reliever. that dares to work all the way until... [birds chirping] the am. new aleve pm. it's the first

. >> keith, yesterday john calamos also speaking of flat out disorderly conduct declarations said we're in a deflationary period. what we've seen from central banks just in the past call it week he had india, 25 basis points race cut. the swiss cut rates to negative 0.75% along with abandoning the peg on the 15. you had a peru a surprise rate cut. den narcotic with a surprise rate cut on the 19th and today canada with a surprise rate cut. are people aware of what's happening with central banks try to combat deflation around the world and what that means for the g-4 next? >> i think we've been hanging around in bernanke's helicopter hangar. i think rick is right we're going it see tremendous volatility around this because traders on one hand have been anticipating. on the other hand they're very much looking to put positions to work and the party continues as long as there's free money. what i worry about is that this is absolutely the wrong message to be sending to the derivatives cowboys. it's a bet they can't lose. i think we're going to see big wall street warm up. i think we will se

maybe a mario gabelli or someone like john calamos might be interested in that.unds getting into this buying an etf and trying to spin it off. don't count out the hedge funds. they're here this year. the big talk is jeff dunnlock. he's teaming up with state street to create an actively managed bond fund. sound familiar? there's not much success in active management in etfs, but now you're going to start seeing it because it's the last face that hasn't been cannibalized. they'll be picking the bonds. the sponsor will be state street. we'll be talking with state street tomorrow about that. i that haven't had a lot of success. the only one that's been successful, of course is pimco's bond b-o-n-d. formally created by bill gross. that's the actively managed bond fund that pimco has been running. i predict more hedge fund guys will be getting into the hedge space. robo advisers would you -- would you trust your money right now to accompany the picture etfs robotically? that's what robo advisers are all about. the famed investor behind a random walk down wall street he