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cheryl: and my thanks to ryan payne and keith fitzgerald. don't go anywhere, our look back at "wall street's" best moments of 2020 the, that is comin did you know that geico's whole 15 minutes thing... that came from me. really. my first idea was "in one quarter of an hour, your savings will tower... over you. figuratively speaking." but that's not catchy, is it? that's not going to swim about in your brain. so i thought, what about... 15 minutes. 15 percent. serendipity. 15 minutes could save you 15% or more on car insurance. ♪ ♪ cheryl: and welcome back. a global pandemic that has reshaped our lives, a historical presidential election. 2020 was a year unlike any other, and while we saw a world hurt and in pain, bealso saw moments of pain and recovery with the promise that good times will find us once again. here's a look back at some of the top moments this year on wall street. we begin with maria's one on one interviews with financial titans jamie dimon and ray dalio. >> i do think it's a little bit of a decoupling between china for secur

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let's bring in our market gurus, keith fitzgerald is here and scott martin and melissa army., i'll start with you. will we see a repeat of this? >> yeah, the economy reopening? what could possibly go wrong? just about everything! just about everything. no, exactly, sandra. you know as well as i do, about everything. we have to be careful. not everything but we have to be careful as investors as we go into the new year's of expectations and the bullishness that is running rampant and how it sets up the market for likely a fall, volatility. things to come out of nowhere as they did in 2020. just be careful of that as an investor as your expectations go forth here. >> sandra: melissa, do you believe that covid will be the deciding factor with market outcome in the new year? >> i think the markets will be driven by covid in 2021 just like 2020. personally, when i look at every week when we have the unemployment claims come out, they're still around the 800,000 numbers week over week. the market didn't react negatively to that. the market has reacted when we've had shut downs. whe

great conversation, jack, keith fitzgerald, ray, thank you very much.r nypd commissioner ray kelly here to discuss the surge in crime in new york city. back in a minute. maria: welcome back. morgan stanley earnings hitting the tape. cheryl casone with the numbers. stock up better than 2% right now, cheryl. over to you. cheryl: double beat to tell you about. the estimate was for a buck 27, they came in at a buck 92 earnings per share, a lot of this based on trading revenue and asset management. the they came in at 13.6 billion and ceo james gorman making comments right now saying they're entering this year with significant momentum and he says he's very confident in the company's competitive position and opportunities for growth there. investment banking revenue almost 2 and-a-half billion dollars, that was strong. fixed income they had a strong q4 there and asset management, 3.93 billion coming in asset management, morgan stanley moved into more of an asset management role the last couple years. the last of the big six to report for earnings, maria. sto

joining me now is ma larry glazr and keith fitzgerald.cer, nancy tangler. than circumstance let's start with with you and the markets this morning. investors watching georgia, the senate runoff races. fox news projected that democrat raphael warnock has defeated incumbent kelly loeffler. the race between david perdue and john ossoff too close to call. what would the impact of a democrat controlled senate and a democrat controlled congress and white house be on the markets? it just seems like investors have not completely factored in what the world might look like. >> i think you're right, dagen. but markets rarely rational in the short term. a lot of the volt tilt is driven by -- volatility is driven by the algorithms. one of my ten nets is don't invest your pitolicic remoormontormo, i t wtt vests av h to t csi cr cs c will belu rpl rplill il it relt inig hrheax tesn ihe t dsmiof cmimiidnd a a a aecsieson i ink the bge bis rk i regulationgulation on n,ne of ohe t tshatt pulezz mes, ire pdesi-entctle aid hisisisisay d o topiv f gulatory de

joining me now, asset management ceo, ken mahone, david banson and keith fitzgerald.ant to start with you. we obviously are kicking off with earnings here, markets -- we've had kind of -- yesterday was a little bit of yeah. >> i. we're red right now. yesterday was really choppy in the session, david. i want to get your take first on that and also the fact that we're waiting on the federal reserve today, the two day meeting ends this afternoon and then fed chair powell will have the news conference and december durable goods in the next hour, gains of nine-tenths of a percent. david, throwing it at you, the kitchen sink. what do you say. >> i'm excited to hear that yesterday was considered a high volatility day. if yesterday was a high volatility, we can live with that. i think we've become pretty spoiled by the volatility levels compared to of course what we had been experiencing for not just the covid insanity in march but really for most of 2020 and actually we're in a much lower volatility environment now and even bigger moves when you're at a 31,000 denominator in

here know first gerald group principal -- fitzgerald group principal keith

i want to bring in the principle of fitzgerald group, keith fitz-gerald.ay stay clear of social media stocks because they're toxic. explain? >> it comes down to what they represent, charles. i have a hard time make pack business case for positive investment around companies that have built what they are today on hatred and tearing each other apart. i think it is a very distinct line you have got to draw as an investor. i would rather go to optimism every single day and i think silicon valley is finally getting comeuppance they are ultimately rightly do for having fomented all of this. i would rather go where social networks are used for good. charles: speaking of comeuppance, we see twitter, which by the way peaked on december 18th. it was 56. it fallen completely apart. it got two upgrades. snap made the same decision yesterday. it was hottest social media stock. it has been derailed. there may be opportunities here. i think snap is a buy myself. i'm with you in terms of, it just bothers me so of when corporations get this deep into the public conversatio

here know first gerald group principal -- fitzgerald group principal keith

let's talk to keith fitz-gerald of the fitzgerald group. want to talk about the complaint the fed is making it too easy and the market no longer does a job of price discovery, your thoughts? >> number one, you have to think about what they're saying here. there is an old adage, those who rain on others parade don't have one of their own. i think many of the alarmists hearing on wall street in fact missed the rally and they're trying to remain relevant by using metrics created in a 100-year-old economy. i think investors have a good grasp what is going on and many companies leading the way, charles, are ones that are changing the world. that is how you create profits not by calling it after the fact and looking in a rear view mirror. charles: i will point out seth is a value investor and underperformed the market. >> there you go. charles: talk about the names you're talking about. these explosive growth names. they erupted yesterday. monster gains. maybe it was all sparked off by the netflix move. i say this, okay, newton's first law of gra

now so i want to bring in mark get gauge group managing director michelle snyder and the fitzgerald group chief, keithle are always asking how do you explain the divide with the market through the roof and all the dark clouds over this country and challenges we're facing right now, michelle? >> if i had to bring in a prop in today to wear my mousketeers hat because we've been entering disneyland situation with the market but it is not necessarily as great of a divide, that is not sensitive to the people that really suffered this year and all the political goings on that hurt the country but really when you look at it, we had a slew of new investors with robinhood investors and other young investors. people, the silent majority, their 401(k)s have blasted off since april. so they're actually enjoying these gains. they may not be out there talking about it but definitely see their portfolios grow and they are super thrilled about it. charles: right. keith? >> i think it comes down to the emotional disconnect. one of my great mentors was the late sir john templeton. he always said buying at points of max

joining me to do that is a financial expert, keith fitz-gerald, fitzgerald group principle, jonathan hoenig, capitalist pig hedge fund manager, much, much more. we'll rifle through some of the major markets and big performers in the stock market. i've been reading a lot in the press as donald trump will go down as one of our worst presidents ever. that obviously is a little too soon to judge. i think it leads out whether those that like or dislike the president won't acknowledge the markets have had a very, very strong performance under his leadership. looking at just that, jonathan, again i don't know how you can argue he has been very successful lifting the nasdaq 35%, s&p, 67%, the dow 56%, small stocks under the russell 2000, 58%, and we were coming off of a bull market. now the president you know, bemoans the slow recovery under barack obama but it was a bull market and it was years long and he put it on steroids. your thoughts? >> sure. that bull market continued. the dow as you pointed out neil went up about 56% under president trump but you know, and i'm just saying in obama'

keith fitz-gerald, fitzgerald group principle. >> thank you.l: edward lawrence is following a couple of developments and the blitz of executive orders but the latest move to ban new leases on new oil and gas drill on federal lands. what is this about, edward? reporter: lands and waters. the new regulations threaten the energy independence of united states according to independent petroleum association. the sources in the oil and gas industry that the administration plans to ban new leases on drilling and fracking in federal lands and waters for one year. industry groups say this means permanent job losses. >> loss of jobs that have benefited from this natural gas renaissance which happened in the chemical industry and manufacturing industry. you're talking upon thousands and thousands of johns which we threaten if the biden administration moves forward laying out. reporter: white house source familiar with the new regulations in the past 90 minutes they are in draft form and could be changed based on outreach in the next 24 hours. president joe