lazard has been there a long time.ou've got the four of us all public and we've had quite a lot of success will stop part of that is companies saying we don't only want to go to big banks who have all kinds of conflicts and products they're trying to sell. we want someone who is a pure advisor. >> do they really look for pure advice? or do they ask you to scan the waterfront to see what's out there? >> it is something in between. i wish it was as easy as the first part of your question. clearly, companies know what they want to own in some cases. you walktty rare where into an office and you think i've never thought of that. they did the best targets are out there. what is the right time, when would they target be amenable to an approach, when are you in a better business -- a better position as opposed to being outbid by another party. when is your stock price at the right level, those kinds of things. >> we have to talk about the ipo. when you went public, you set the next wave of all the other firms going public. do

. >> the bankers, has lazard is really interesting >>> final trade. tim. >> i'm selling brazil.g korea. >> i want to be buy sugar sgg. >> pioneer. >> symantec. >>> all right, i'm melissa lee, thanks so much for watching. we'll see you back here on monday. meantime, don't go anywhere, "options action" starts right after this break. just take a closer look. it works how you want to work. with a fidelity investment professional... or managing your investments on your own. helping you find new ways to plan for retirement. and save on taxes where you can. so you can invest in the life that you want today. tap into the full power of your fidelity greenline. call or come in today for a free one-on-one review. >>> this is "options action." tonight -- king congress versus godzilla value and momentum stocks are locked in a battle. we'll tell you who's going to win and how you can profit? >>> plus, the face of fear. it's a multibillion dollar bet that the market will plunge 10%. >>> netflix and amazon have dropped around 20% in the last 20 days, but we say one's about to find the floor and

so again, lazard, goldman sachs, morgan stanley's asset management business doing well here. we think those stocks are key. right around book value. >> schwab you mentioned reported earnings as well, they had 550,000 average trades a day. that's the highest in the company's history. when the retail investor starts to move back into the market at that level of strength, charlie, smart money in the market, does that make you take pause and take some money off the table or do you keep buying? >> absolutely it's a big positive in going forward. because the retail investor has not participated. the retail investor has been on the sidelines, been in cash and bonds. we've been predicting a rotation in the stocks frankly hasn't happened, but we think it is going to happen. so that's a big tailwind not a couple months in duration, it's going to be years. >> charlie, as a long only fund manager what do you do when you see the market in whiplash fashion as it has the last couples day. >> >> buy what others are selling. sell what others are buying. and that is this is exactly that time.

lazard that does a great job with investment banking and a well diversified. cb richard ellis, jones lang lasalle and the real estate services companies. those are where we think the best bargains are within the financial sector. >> we heard from financial company this is week already, big banks reporting earnings, j.p. morgan weaker than anticipated but wells fargo a little better. does that tell us anything about the overall economy. are these bank-specific information that we're getting at this point do you think? >> i think it's bank-specific. j.p. morgan chase now is so global and they've got -- there's in so many different markets around the world i don't think you can interpret one quarter about what it means for the american economy. >> somebody who walked into your office today, let's say they haven't been actively involved in stocks in the last five or six years because they've been worried about things but they each watched things rise drastically. is it too late for them to get in? >> it's never too late. take a long-term perspective. get there, ge

inmates about two thousand community protest is among the members of radical movements all of the lazardhis pulse clear there is a department uses art to making false claims when fact checking is not their strong suit. remember the story with the flyers being passed around in ukraine's city of donetsk requiring jewish citizens to register with the pro russian government the flyers ten out of the fake when they merge the u s ambassador to ukraine quickly dubbed it the real deal. john kerry referenced it in geneva. the deal that the state department prepared to explain why the us imposed sanctions on russia. it also needs a correction it makes it appear that poignancy head coach voices of the referendum it to secede from ukraine or to join march and which is not accurate one of the options was to stay with and ukraine with economy granted under the constitution signed in nineteen ninety two. in our coverage which comedy everything that the us as a bi plane because it was challenging to two year deal with them more sources of information to have a fuller picture you will have at the end. us

gary par vice chairman of lazard a leading american investment bank discussed what more needs to be done. world is a safer place than it was seventy years ago things have more capital on a global basis there's more capital to protect against risk. there are less risky assets on banks' portfolios. so those are both very important changes. it's still very slow in being implemented so for example the financial crisis began in the united states the new laws in the united states fall under a law made on crank. and only half of the morning and asking united states after five years of work only half is implemented so there's a lot more to be done. in europe there's still a body regulatory it's still very early days and changes to do with their financial crisis. so there's a lot of work to be gone beyond couple and on some amount of reduction of risky assets those who are good changes the banking system and on the sidelines of the ball for a more boyish and also sat down with shelley being founding dean of the telecom graduate school of business is about to jump all the question about for the op

wright is senior advisor for lazard a firm that advises corporate executive sports and governments throughout the world. previously served as a deputy secretary in bill clinton's department of energy and is the ceo bisson energy company. he is very likely best known for running against rick perry is a democratic nominee for texas governor in 2010 when he received more votes than any democratic candidate in state history. this fall that record either will or will not be broken and either way it will be news. please join me in welcoming the white. [applause] mr. mayor, good to see you. >> good to be with you all. >> congratulations on the book. he will be off the obamas christmas card list as a result of this. >> oh who knows? >> i know, you will be off the obama christmas list. you don't take a charitable view of this present with debt and with fairness you were not kind of president bush and his debt either but let's talk about why you think this president does not have the right relationship to debt. >> right now we have national income at an all-time high. we have recovered national total n

>> lazard frÈres which was the subject of my first book.merrill lynch and finally, the firm that became jpmorgan chase. >> any idea how much money the boys' families spent on legal fees? >> they spend upwards of $3 million a piece on the defense. >> apiece? >> total. they could have spent more at this point. it could have been more at the time. just a figure that has been thrown out. >> what kind of financial shape were the parents in? >> collin finnerty's father was a banker at bear stearns. he then worked at various -- they had the resources to do this. reade seligmann was left well off and the bail for each of these kids was $400,000. reade seligmann had to borrow the money from a friend. he had to appeal to a judge because the friend wanted it back. david evans' mother is a big lobbyist. his father works at a law firm. they clearly had the resources. by the way, their defense team did an extraordinary job defending these kids. whether these kids got away with something or not, we would never know. they exploited every mistake that mike

now a senior adviser at the global financial visor firm lazard.n 2003 we cut taxes when we went to war. adding 2.3 trillion dollars to the debt. >> absolutely. and the reason we did that on all those years is we felt that if we were going to ask men and women to sacrifice their lives for our country we might as well ask the civilians to sacrifice something to prevent the debt from accumulating afterwards. and we had bond drives. in in the 2001 to 3 period it's wanted to shield the cost of war from the american people. u but it's never good in any administration to disguise the cost of people. >> you're saying this is a financial problem. what i see is lending the money cheeply to other governments. not just u.s. united kingdom and japan. they don't seem worried in future rises of the interest rate or the inflation. in japan, the country marketed on a big -- aren't the financial markets tellsing us not to worry about this now in and worrying about debt later. >> no, they're telling us they are not too worried about defaulting on the debt is what th

thousand to present him with b he was a cheap mr was joined at that time period i'm sick and actions the lazard is to actually lead to that site atrocity thousand people die which was intended to assist with building because of a new security forces which second regions across this one too she was to provide and what that means winds of one of the few rights means we are the conditions actually happened. they talk about pointing to mr and his sense of design in science and science has done. and if you have a nice touch. so it's it's not really nice to see its not prepared to say about this possibility only two points poisoned and openly especially when it was new to the position of chief ministers and on top. on that point. it still. he had not apologized to his neighbor mark subsequently the third year in funding to keep me on to score points on the stove expectation act nineteen twenty three and the kindest and notched mancini to toe cocoon. we have what we've always known it's all coming to town on the twenty oh four six months. none of use which cost ninety nine mt has not changed too. betw