delighted to have this next guy with me, ken fisher, fisher investments, founder, chairman, arguably e of the most successful investors on the planet. also a very nice guy. good to see you, ken. >> thanks for having me on, neil. neil: is the debt thing noise? >> this never getting handled until the last minute, gets handled somehow, some way. the market wiggles when you get close to it. before then people do a lot of this. a lot of this doesn't do much. neil: i notice the time between these crises keeps getting closer and closer. we keep having them. >> this one is five months out at least. neil: okay. >> a long time from now. until it actually is going to impact the talk is just talk. neil: what if we're downgraded again? in 2011, s&p downgraded our debt from aaa. there was a deal that was still had. we didn't actually go belly-up but it was all the craziness during and up to that point that prompted a downgrade. could we have something like that? >> pray to the great god which is the marketplace. the fact of the matter is, if that is to happen long before it happens, you're going to

we've got ken fisher to share why he's declaring this year the summer of love just like 1967. and if you listened to one of my guests earlier week, you might have bought airlines, american air airlines. if you did, you made a whole lot of money. we're going to see what his next hot pick is. and my takeaway on why listening to the market might be the best way to invest in the market. all that and so much more on "making money." ♪ ♪ if. charles: it's friday the 13th, and, by the way, most of the time the markets are up on friday the 13th. we're off to an explosive start for the year, aren't we? and it's not just those meme stocks, but there are a whole lot of niches that were hammered last year that are coming on strong. it and seems buyers are not just folks looking to make a quick buck. yesterday take, for instance, your main three safe haven sectors, utilities, staples, health care, they were actually down. money coming out of will, rotating to other areas. meanwhile, the so-called fear index, the vix? anything but these days. it went under 19 yesterday. by the way, speaking

billionaire investor ken fisher says all is not lost in 2023. he's here next. president biden returning from winter break where he signed another 1.7 trillion in spending in to law. jacqui heinrich is all over it. jacqui? >> edward, republican critics say that bill will only worsen an already fragile economic recovery. you will not hear that from any administration officials planning to promote biden's past spending he got through under democratic control of congress. just as he enters this new phase of his presidency. ♪ a bunch ofs made up work, way back when. ♪ ♪ it's our turn now we'll make it up again. ♪ ♪ we'll build freelance teams with more agility. ♪ ♪ the old way of working is deader than me. ♪ ♪ we'll scale up, and we'll scale down ♪ ♪ before you're six feet underground. ♪ ♪ yes, this is how, this is how we work now. ♪ >> edward: job back from his winter vacation. he's set to deal with his divided congress. to jacqui heinrich in st. croix with the latest. jacqui? >> hi, edward. president biden dodged questions here in st. croix about his agenda for th

his name is ken fisher. me for digressing but i remember you as the guy who did a tv commercial saying i would rather have needles stuck in my i than sell you an annuity. you did say that. i do remember. >> i don't remember because i'm mostly blind anyway but i said a lot of things about a lot of things. stuart: you have been saying you are seeing a roaring bull market this year. make your case. >> first, to see it, you have to see the 2022, almost anything you say about it, could be set almost perfectly the same way about 1966 or just slightly differ the, rate hike, explosive inflation out of nowhere, regional war, the most divisive air in us politics, you could go to recession expectations, anticipation of capitulation and a bear market that was the same magnitude, starting the same day in january, almost the same day in october the fourth quarter rally almost the same size, strong start to 1967 and in reality from all that, 1967 is the year when inflation peaks and falls, interest rates plateau, we don't

ken fisher has interesting column in today's "new york post," talking about how prepared we are for recession that might not come but he likes seeing that because often times a lot of companies, as our investors are caught flat-footed ahead of one. where are you on this? >> ironically, neil, the companies you mentioned that have been cutting, like the big cap tech stocks, often times when they announce the cuts, stocks go up, so in effect they're liking the fact a lot of that fat has been cut. honestly, talk to any one in the tech industry. during expansion, during the stimulus, there was a lot of hiring, pie-in-the-sky thinking. not only inflation, excuse me the earnings will be important, what the impact on inflation will mean for these companies. keep in mind last year's market downturn really started when facebook announced impact of inflation on the bottom line going back to february or march of 2022. all eyes will be on earnings. market has all the time in the world. what is interesting is, even as tech has bounced still off the all-time highs, value stocks are right up at their all-tim

i had ken fisher on the billionaire investor saying percentage numbers are small even though he recognizeshe layoffs are picking up steam. he doesn't seem too worried about, companies are more rightsizing than tanking. what did you think of that? >> right. i think the thing that is most disturbing, neil, look who is doing the layoffs, these are the richest most successful firms, microsoft, google, sales growth, job and technology advancement in the economy over the last decade. the fact they're hunkering down laying people off, something suggests that the front end of something that will really be bad. don't forget the unemployment rate needs to go up by one to 2% in order for the fed to feel like it made enough progress on inflation and it hasn't done that yet. i think people are getting ready for that to happen. the final thought, when price inflation goes down close to wage inflation or even below it, that is when firms start to lay people off. so last year price inflation was 10%, wage inflation was 5%, so firms didn't really have to lay people off even though we had two negative quart

fishers, indiana... and now, here is the host of "jeopardy!"-- ken jennings!ers and applause] thank you, johnny gilbert. welcome, everyone, to the second week of our first-ever "jeopardy!" second chance competition. last week, we saw jessica stephens secure her spot in the tournament of champions.