you said long-term. long-term on fitbit. as a matter of fact i think fitbit has an ecosystem that is second to none and i think that if you have a long-term perspective you'll do fine. short-term, could it go to 32? absolutely. why don't we stick to my home state. why don't we go to john in new jersey. john. >> booyah, jim. >> booyah, john. >> how you doing? >> i'm doing great. how about you? >> i'd be better if the eagles were doing better. but that's all right. >> i keep thinking my daughter said, dad, it's out of your hands, you can't take it that personally. it's out of your hands. and it's out of my hands and i'm taking it personally -- okay. i'm sorry. what's the stock? >> short of fanatic. my question is on under armour. the earnings looked good but the stock was punished. >> inventory levels were elevated. they have a little more merchandise than they needed. under armour is a great brand. six months from now we'll say it's up. this retail environment is very, very hard but i like under armour long-term. i like it mo

it has been a long road for kkr and again, this long-term horizon is going to be the catch phrase hereor the ceo at first data. erik: it was important for kkr to exit the deal. in fact, for a long time, kkr was losing money. but to go back to the question, ,f you don't mind, alex long-term isn't a crazy idea. --may not be reporting rewarding shareholders right now, but at it italy, it is a legacy business, but they can see now the path forward technologically and because they already have those merchants in their network, it is much less expensive for them to convert them over to point of sales technology than it is for a company like square to go out and speak to the choir to those merchants through sales and marketing expenses. so by playing a long-term it game, they may be able to -- long-term game, they may be able to win this war of attrition. andd: you bring up square, what did we learn yesterday from their filing of the ipo? alex: a little bit more point, aon to erik's lot of these players has been the local dog walker and the local coffee shop. thatare pushing this idea they ar

they buy it for long-term value. and that is sort of immune from market. gary: is the growth in the industry dependent on growth in employment, growth in gdp? what is the tracking economic data to look at how insurance is going to grow? industry has a lot of positive demographics on our side. if you look at the millennial generation, it is a bigger age cohort than just a number of people -- in the number of people than the baby boomers. there is a large group of people entering adulthood which are all prime customers for us. anthony: what do you say to a young person who thinks they are going to live forever and they don' t feel they need life insurance? john: first of all, life insurance isn' t just for death protection. i would start with that. as i said, so many uses across your life expectancy. but also, i think that is a myopic view. t good. and you don' t control many of them. and you assume that you are invincible as many of people do. on the opposite side of that, insurance is cheapest when you' re young. anthony: i asked that question for a reason

this is the record of long-term investing. but what i have found in the last several weeks is we have to convince the generation the long-term investing philosophy is still relevant. they have watched their parents for the last 15 years go through a paradigm that has not worked. elliot: that is the crooks -- crux of it that boomers relate the brand, the alert -- allure of wall street. the millennial experience with wall street has been different. it started with dotcom, enron. so are we surprised this demographic is skeptical or distrustful or asking questions of whether the business is in their interest? gary: do you see this as a worry or opportunity? elliot: a catalyst. a good questioner will say, mom and dad, i have read about this online. hopefully that starts at a conversation about travel and all sorts of other things. maybe we should explore how this works. anthony: we will have more when wall street week returns. >> are we in a bear market warble market? elliot: bull market. >> sign up for the free wall street week ne

this long-term is in the interest of shareholders. provided you are a long-term shareholder. we make long-term decisions that are effective. our i.t. systems and investments in people. we have an investment in humanity and our planets. increasingly, businesses see good reasons to do that. technology is there. the opportunity is there. the financing is there. actually, the alternatives of not doing it is starting to cost businesses more. let's take the drugs in sao paulo, not long ago, their water reserve was one third of what it should be. that is not a good situation. the hydro dams do not give good electricity. people do not have water. when they do not have water they do not take showers, they do not wash their hands, their electricity stops a few times during the day, if you have ice like us. business is hurt by failures. the solution to avoid this is a good business opportunity. the people they go to bed hungry are an opportunity to grow the market for food. we have an enormous opportunity to provide nutrition for these people. these are good business opportunities. fran

understanding what are the continued drought conditions mean for us as we manage in the short term and long term and medium term this is not a unique situation to the puc every water district in california and the west is facing this on the plus side we're well positions on the plus side unlike other agencies not to purchase extremely expensive supplies that components the challenges we're facing reduced demand and potentially hard end demand in addition, we have retail water rates and harasses that you are set for 3 more years including that year and set on average demand a normal year demand what we're seeing a level significantly blow that rates and charges the commission adopted for the 4 years work period so this next slide relates to capital investment and it is fairly busy i'll try to unpack it what we have and this data is from the most relevance adopted capital plan on the excess the 10 year period if fiscal ye2025 capital spending relates to the colored bar the green bar is the wastewater capital program the blue the water program and the yellow is the hetch hetchy power program so we'

i'm thinking long term. for us to figure out and calculate what's happening today is going to be time in the future for when the tax numbers can come in and when the stories continue to roll. this is less than a couple months. it feels like 10 years. but it has only been less than a couple months. but what i ask, again, in the pioneer spirit, and this is again personalized is that we think outside of the box. is it the magic bullet? i don't know that. i can't say that. what does it actually mean to be on a priorities list, wait list, immediate remediation? we as well want to see immediate remediation, to see that the work that's happening up there is wonderful. but let's keep going, let's move forward, let's make it permanent. we also want a water treatment plant. but does it have to be like it's been done since the '80s? i don't know that. and again, we're turning over our trust to you. >> thank you. to follow up on some of the comments that have been made about the funding and some of the form 95 or the cl

that is long term. that has no impact on the short term use of the aib property to become a regents resource center. the university of iowa will have their 4 programs offered in the fall of 2016. an early morning police chase it ended around two a-m .. that was at northeast 51st court. that's where the driver of this motorcycle went off the road... alongside a wooded area. officers say it lasted only a few minutes, but it did reach high speeds. the driver was taken into custody.... they were not hurt. we'll bring you more on that as it becomes available. a newton man is charged with trying to kill his wife, son and baby granddaughter... 50 year old john britton is facing three counts of attempted murder. britton's estranged wife says he night. it happened as she was leaving a relative's house. shortly after... she says he hit their son. luckily no one was seriously injured. britton's wife says he has struggled with schizophrenia for years. the state auditor's office says a town's former city clerk misspe

okay, if he has no long-term place in the future of syria, does that mean that you, john kerry, that you, the obama administration, believe there is a place for him in the short term. >> a managed transition. >> correct. >> should we listen to that? >> there is no way for assad to be part of the long-term future of syria--not because we say so. nothing to do with us, but because his own actions have made him unacceptable to the millions upon millions of syri syrians who have been effected by his choices. when 12 million syrians are wandering displaced people. when people are driven out of the country by barrel bombs, torture and gassing, the army. when he has failed and he has never attacked daesh. in fact, he has cut oil deals with daesh. he's let their electricity continue to flow to daesh. you know, daesh-dominated communities. he literally has only attacked the opposition to him, his own people, and that's why our feeling is that even if we wanted to partner or something, we couldn't. because the war can't end. the assad has to make the decision to save his country. >> so the ques

for long-term investors you want to buy low and sell high. ere have been a lot of names in natural resources lately. we are constantly looking for areas that have longer-term opportunities. we still believe in the long-term as a portion of wealth preservation and growth and allocation of gold and precious metals as healthy as well. angie: thank you so much. joining us live from san francisco, president of pacific heights asset management. volatility is the name of the game. it is october. next, why venture capital firms are keen to bankroll this girl band from china. a special report when "first up" returns. ♪ angie: during up for a big weekend in rugby. wales scored two tries of the millennium stadium to beat e.g., 23-13. scoredother game, france in a 41-18 victory over 8 -- canada. later today the defending champions, new zealand take on georgia. the all blacks should be all too powerful, but georgia are the best of the rest of europe. it will be interesting to see how they get on. wales are a step closer to the quarterfinals after a hard-fo

long term. and he's smart. i think he's politically capable of bringing grouping together. >> in an effort to help resettle syrian refugees, the u.s. could be accepting at least 10,000, displaced syrians over the next year. grassley said a better option is forming a safe zone on the turkish border. >> it would stem the tide of refugees going to europe or some of them coming to the united states. which i'm not sure that i'm in favor, but under the president's authority he could do that. i think it would stem that. and i think it would help meet people. >> the senate passed a long-term transportation bill. the house has a shorter version that is set to expire later this month if i remember correctly. >> i don't know where this is going to happen but we were told in august that the house was surprised that we passed a long-term bill, and that when we got back in september they were going to work on it. in the meantime, senator schumer and paul ryan were working on some dramatic compromise. we think

that is very buzz worthy for the long term. i will see businesses want to be on twitter more and more. they will throw money at twitter to get rankings. melissa: i'm interested in jo, jo is representing what is hip and cool on this panel. sorry, guys. >> that is probably not a good thing. looking at broader user base, talk about ads and companies being on twitter they're getting completely, completely beat by these younger social media companies. whatsapp owned by facebook, 900 million monthly active users. instagram integrating very smart media advertising strategy. they have 400 million monthly active users. even if we see a big bump, they will not come close to instagram an even views that snapchat is getting. long-term gain for investors may still be questionable even if it's a good day for twitter. >> jonathan, doesn't seem like twitter can get its cool back. >> well it needs a new visionary and ironically, melissa, brought in the old visionary, jack dorsey in a move to shore up confidence among his employees gave away a t

these long-term trends are good news, particularly for every american waking up and heading off to a new job. but, we would be doing even better if we didn't have to keep on dealing with unnecessary crises in congress every few months. this is especially important right now. although the american economy has been chugging along at a steady pace, much of the global ed.nomy is soft and -- soften we've seen a decrease in our exports, which was a major driver in our recovery. our growth could slow if congress does not do away with some of the counterproductive austerity measures they have put and if congress does not avoid the kind of manufactured crises that shattered consumer confidence and could disrupt an already skittish global economy. half ofsday, more than republicans voted to shut down the government for the second time in two years. the good news is that there was enough votes in both parties to pass a last-minute bill the keep the government open and operating for another 10 weeks before we can get a more long-term solution. keep in mind, that gimmick only sets up another pote

the ceo said there are limited options to -- long-term care coverage. the ceo said there are limited options. some analysts are saying they are paying -- keycorp is paying for first niagara and that is what is hurting the stock. >> thanks very much. that's julie hyman at the markets desk. let's check the bloomberg first news. mark crumpton has more. mark: the united states, russia, and more than a dozen other nations are considering a new inn to secure a cease-fire syria in 4-6 months. that would include a transitional government featuring both bashar al-assad and opposition members. following today's negotiations, john kerry spoke to reporters. john kerry: the united states position regarding syria, i emphasize, has not changed. we agree to disagree. the united states position is that there is no way president bashar al-assad ken unite and govern ashcan unite and govern syria. just how long bashar al-assad could remain in power under a transition is still unclear. president obama has received a spending bill for his signature. it ensures the u.s. will

outlook gmo boston research affiliates, taking long term valuations now would comply 8% long termnflation, where as in u.s. stock market they see maybe one or two per cent, bonds, 2% you are not doing much better than that, so, in the near-term, however, commodity prices plummet so, emerging market could get cheaper do you worry about that or giving long term horizon do you say we like -- that class next decade or 3 or 4 it will be better. >> we think about those, certainly for the long term, you think about a billion people, joining the middle class emerging markets next decade that is unfactorom believing what baby boomers did to our economy applying consumer products long term is very, very important but a complicated story, because, how do you access that growth, well emerging markets the markets themselves, the -- investable markets highly concentrated as you know financial companies, utilities, not necessarily in the places where you are going to see, the benefit of all that consumer growth when you look at emerging markets you have to look at it beyond just sort of market i

that being said, long term, start thinking a little bit more positive and position yourself. corn's a sleeping market. it's sideways, it's space billing. as prices rally, sell into those rallies but look for rownership for el phipps joins us when we come back. >> receive a free trial of the daily market letter and gain knowledge about current market conditions from the professionals at bower trading. view the markets like never before. go to bowertrading.com. as harvest comes to a close, many farmers reflect on a year's worth of work for john this year struck an emotional chord. john. well, we are putting our toys away, harvest is over for us. we finished up yesterday. it brought back something that i wanted to share with you this week. my father, late father, was also a story teller, joke teller. i know...apple tree... i get that a lot. but unlike me, dad never felt the compulsion to add any new material. once he found a good joke he would just stick with it through his entire career, so some of them got a little bit predictable. for example, when i was a boy at the supper t

if are you going to sell as a long-term investor here, not a day trader, then you are saying it's just too rich right now. >> if you sell it here, you have to be a short-term trader, which i for one am not. you have to be red to get in 20 points later. >> it's the same sort of issue with apple at times. >> am is a perfect example if you follow the technicals on a little bit more than a couple of days or a couple of months, it's guided you incredibly well as to what you should do. >> apple has been cut three times for the last seven or eight years, and the company's fund mentals were not cut in half. the reason why anyone would use technicals if they're a little more concerned about the shorter term. if you are not and you are investing in a company because it's underlying business, then you're not paying attention to potential for a -- you should assume every day you wake up, every stock in your portfolio has the ability to lose 10%. >> whether it's a trade or an investment. you always have to attack it from every single angle. verizon today, that appeared to weigh on the stock, althou

we're looking at a long term picture and 50 percent of the people under employed or employed. >> can we afford the tax cuts to john's point? >> well, you can create jobs all way. the government is smart. again at the end of the day, how are you going to pay for the cars? it's the same thing with the tax cuts. there's no plans to cover the cost of the radical tax cuts. they want to sound great. the best that we can get from the point is that no one can get anything and that could have the benefits of the job market. that's f that's feasible. whatever it is, that's going to make it a goal that we're going work for. across the board to every bracket is not going happen. we're learning the deficit. >> gary, let's talk about that strong economy. how worried are you about this latest job's report? >> well, very worried. the bun thing that i am not worried about is the fed raising the rates. i don't think that they're going raise and the only reason that they would or should raise rates other than some moral and imperative that people think that they just should buckle down and tighten the

that is long term. that has no impact on the short term use of the aib property to become a regents resource center. the university of iowa will have their 4 paul ryan says he's willing to run for house speaker... under certain conditions... among them... the republican congressman says he must receive the endorsements of the major g-o-p congressional caucuses. that includes the "house freedom caucus"... the "republican study committee"... and the "moderate tuesday group." ryan outlined some of his other demands in washington last night... we need to move from an opposition party to being a proposition party. because we think the nation is on the wrong path, we have a duty to show the right one our next speaker has to be a visionary one. ryan says he will make his final jim webb has dropped out of the democratic presidential race... the former virginia senator made the announcement at the "national press club" in washington. webb says he will now meet with people from across the political spectrum to co

youth unemployment is down and long-term unemployment is down.british businesses are taking people on. but they are doing it in the context of a strong and stable economy. tonight we will vote on whether, after eight or nine years of strong economic growth, we should have a surplus rather than a deficit. if you do not believe in having a surplus, who you fix the roof when the sun is shining? those who believe in a strong economy should join us this evening. jim cunningham: whatever happened to the government's proposals for a highly skilled economy? when you look at further education in coventry, for example, there will be a 24% cut in the skills budget. the maintenance grant has been abolished and now the government is even talking about abolishing the disablement grant for students being a abolished. what will the prime minister do about that? prime minister cameron: what i will do is deliver on the promise of 2 million apprentices in the last parliament and 3 million in this parliament. what you can see is a record number of students going to

and iranians after all are islamic republic and that is another long-term kind of interest between therkey and where does turkey actually stand. so those players here by recognizing some kind of interest in each other perhaps then you can bring oversight in. >> substantial obstacles remain and perhaps the central question is the future of bashar al-assad and seems there is more flexibility on the part of the u.s. in terms of a temporary role for president assad, of course we know where russia and iran stand as backers of his regime but still very in a tractable position on the part of saudi arabia, how would that be resolved? >> i think saudi arabia have taken an earlier kind of ideological principle and stance and perhaps they are behind the scene, most probably would be more flexible than they appear to be. >> saudis? >> the saudis than appear to be and again they support what is dictator and so on. i think moscow, the foreign minister lives in moscow ten days ago before this starts again. and it wasn't very wise for former secretary william hague and john kerry to keep repeating ass

ift: rapid up, what happens a short-term deal goes through rather than a long-term deal? how is the pentagon looking at this? what are their concerns going forward? guest: the pentagon would term deal.hort but they do not want is the one year cr. for example, it cannot stop projects that it wanted to stop in 2000 16 because if it was paid in 2015, you have to keep doing it. that is probably the least efficient way that you can manage. host: marcus >> live now to the white house briefing room with white house pokesman josh earnest. yes, i'm very excited about the royals. i see somebody up here was looking to have a good time. which i appreciate. i'm glad this was waiting for me at the podium when i walked out here. i'm glad somebody is having their fun before the series starts. i intend to have my fun after the series is over. we'll see how it goes. but that should be a fun tuesday. but today is monday. so let's eat our vegetables. josh, do you want to start? >> i want to start with the deadly earthquake in northern afghanistan that killed more than 150 people in afghanista

so yes, long-term, very important. medium term, people should be factoring this into next year's, next two years. in the short-term, the fascination would be a political agreement. in a world that is sinking into protectionism, this one finally crossed the line last night, and that is worth applauding. jonathan: there are two stories -- what it australia. but in therm one, short-term, australia is an e.m., given how much commodity it produces. when you look at the amount of division at their right now, some are saying a bear market. templeton calls it once in a decade buying opportunity. i can't get over the division -- is the truth in between? the truthe is always in between. it is so, so easy in times of uncertainty for people to come out and make big calls, saying this is the end. yes, there are challenges, but is at the end of the world? no, it certainly isn't. we are seeing the smart money already starting to pick off the better sectors, the better names, the better credits in . e.m. are we going to see more challe

the company didn't give their long-term analyst meeting. adobe gave guidance for 2016 for the first time, forecasting $5.7 billion in sales and the problem is whiep that $5.7 billion in revenue represents an increase versus was adobe is expected to make this year, it still came in well below wall street's consensus estimate of $5.93 billion at the time. there's the disappointment. more important that $2 fine 70 earnings figure, up more than 30% from what adobe is expected. it came in dramatically below the $3.19 per share earnings forecast wall street was looking for. even now, three weeks later, analysts cut numbers the consensus earnings above the lowball guidance. so now i think it's easy to understand what went wrong. they came out with fabulous long-term forecasts. substantially week weaker. that caused many investors to panic. it was really incredible. i saw it. i said, wait a second, you can't judge from the headlines here. but they do especially since the stock has been up '0770% to date. which means they had a good share of profits

they came out with fabulous long-term forecasts. they tell you next year would be substantially week weaker. that caused many investors to panic. it was really incredible. i saw it. i said, wait a second, you can't judge from the headlines here. but they do especially since the stock has been up '0770% to date. which means they had a good share of profits. just not a good one. in getting with the analyst community that came out with good analysis, rather than bashing adobe, a series of analysts came out and added value. defending the company from it's detractors. in the case of stifel nicolaus, they raised their targets. let me read you the headlines. adobe lower guidance is defensible says jeffreys. adobe should be bought on weak insides, adobe should be bought on pullback, the day the stock got put through the meat grinder. it's not often you see such spirited defenses. they were all against the ignorant gravenlt it shouldn't surprise anybody that adobe stock moved higher in six of the seven sessions and pretty quickly rebound abo

like you sock the money away in maybe a long-term bond fund. most people, when they're putting money away for retirement, feel like they shouldn't take on too much risk, that their retirement savings are too important to jeopardize by investing in stocks. i understand why many of you feel this way. if you shun stocks and cling to bonds because you believe that there's less chance for down side, that's not being all that intelligent right now. investing none of your 401(k) in stocks is far more likely to jeopardize your retirement savings in the long run than investing everything in stocks would be. why? okay, when you're investing for retirement, you're in a race against time. you need to generate enough to support yourself for the rest of your life. if you are too risk adverse, meaning if you load up on bonds in your 20s, 30s, and 40s, avoiding stocks because of the risk, you will never generate enough money to retire comfortably. the money you have will probably be safe, but that's all it will be. it's not enough to get a low single digit ret

to come up with 100 thousand more spots in emergency centers for refugees, but they were still no long-term deal for europe's worst migrant crisis since world war ii. and a sharp turn to the right as a eurosceptic party wins the election there. that will usher in poland's first not left leaning government since calmness and fell in 1989. -- since communism fell in 1989. a conservative opposition ahead in in polls are argentina. it has prompted the first second-round vote for president in argentinian history. that and more on the way. ♪ start first with the powerful seven point five earthquake that hit a few hours ago in northern afghanistan. strong tremors were felt in much of southeast asia -- south asia including kabul, new delhi, and islamabad. we will go to our correspondent. what can you tell us? >> the reports are still coming in and we do know that in pakistan, the death toll has reached more than 50 people. and in neighboring afghanistan, as you also mentioned in the headlines, 12 schoolchildren killed in a stampede resulting from the aftermath of this earthquake. the most affected

i'm thinking long term. for us to figure out and calculate what's happening today is going to be time in the future for when the tax numbers can come in and when the stories continue to roll. this is less than a couple months. it feels like 10 years. but it has only been less than a couple months. but what i ask, again, in the pioneer spirit, and this is again personalized is that we think outside of the box. is it the magic bullet? i don't know that. i can't say that. what does it actually mean to be on a priorities list, wait list, immediate remediation? we as well want to see immediate remediation, to see that the work that's happening up there is wonderful. but let's keep going, let's move forward, let's make it permanent. we also want a water treatment plant. but does it have to be like it's been done since the '80s? i don't know that. and again, we're turning over our trust to you. >> thank you. to follow up on some of the comments that have been made about the funding and some of the form 95 or the cl

it's growth has slowed. >> the fundamentals for demand for copper are there in the long-term. e will be in china for a long time. >> industries like copper and iron ore have always been good businesses for mining to be in. there is usually cyclical industries. by and large, those equities tend to move on commodities. that is the choice of commodity and the choice of assets within the commodity class that really determines the ability of these copies to generate cash for their shareholders. manus: bloomberg's energy commodities editor will kennedy joins me now. i remember when the boys at glencore were happy to be seen dangerous commodity routs. >> they became miners. not as happy with the ups and downs. there is a lot of bearishness about the price of omst m -- of most metals. yeah, it is hard to make money in this business. manus: what are we setting up a 2016? is it m&a? they say they are taking more iron or out of the ground. will: it is the capacity question that is interesting. gelncore made a move in copper and zinc -- glencore made a m ove. a lot of the talk with who els

that is the long-term plan, that it is a clearly stated long-term long-term plan and it is clearly statedh short-term ideas. to the upside,is and people are seeing a jump in inflation? explain what everyone else is missing. >> this is not something that everyone else is missing. economists will agree on this. lacking there insight don't necessarily get a message. i am not saying we've got runaway inflation. all i am saying is the inflation and deflation mentality in a lot of society at this moment is about to come to an end. tot we are seeing is an end this oil-based economy. this time last year, oil prices came crashing down. it is not crashing down anymore. to simplistically, headline inflation rates are going to suddenly leap up over the next four months to wear core inflation rates are. if you look across the world at , core the economies inflation will also go up because that includes -- excludes food and energy. >> it bleeds in in different ways? >> exactly. so that will bleed in. so what you will end up with i think our inflation rates rising about 1% around the world. it is hardly

a good long-term strategy. we have to stop reading tea leaves. have to stop solving the problem of the day and looking at the longer-term issues. we need to provide an environment that is predictable. we don't have that. we have one where everybody is chasing central banks. we have an environment of currency wars. that volatility is what to spike again. the only way to get away from tom: saw thesign article, the bank of italy with negative interest rates. axel merk when i look at negative interest rates, an indicator of a topsy-turvy world. how urgent is the chronic since we are in three years in the merck economics? axel: we are distorting asset prices. that cannot be good for long-term economic growth. where complaining where long-term rates -- people don't invest for the long-term. people make shorter and shorter investments. that is unhealthy for long-term growth. we are popping asset bubbles. the fed is trying to extricate itself. that is why they cannot move away. the same thing will happen with a finally raise rates in december or march. v

forces in a large-scale long-term combat mission to take down saddam hussein. and we're still paying for that mistake. the quote you pulled there is a very different situation. >> reporter: but we have heard him reiterate that theme multiple times, that he wouldn't put boots on the ground in syria. >> you have read one quote, and that's out of context. the situation the president has described is a description of the kind of mission our men and women in uniform will have in our isil campaign -- >> reporter: [ inaudible ] but he has consistently said he would not put boots on the ground. you can't deny that. >> the only quote you read to me was a quote from 2013. that was a direct question related to what we were prepared to do to ensure that our concerns about the assad regime, and the need for regime change were implemented, and the president said we're not going to implement a military strategy to take down bash bashar al-assad. what we want to do is build the capacity of local forces to make sure that they can be focused on isil. and that's the strategy that

ift: rapid up, what happens a short-term deal goes through rather than a long-term deal? the pentagon looking at this? what are their concerns going forward? guest: the pentagon would term deal.hort but they do not want is the one year cr. for example, it cannot stop projects that it wanted to stop in 2000 16 because if it was paid in 2015, you have to keep doing it. that is probably the least efficient way that you can manage. , thankarcus weisgerber you. that is our program for today. of this program comes your way tomorrow at 7:00 in the morning. we will see you then. ♪ [captions copyright national cable satellite corp. 2015] [captioning performed by the national captioning institute, [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org]

the long-term trend is still with growth. what's your take?i guess we don't really think of value as the opposite of growth evidenced by our holdings in things like amazon and google. to us where we think we have value and take advantage of market inefficiency is by using a very long-term time frame. at oak mark we're trying to think about what the world might think of five to seven years from now. i think when you stretch the time frame out that far, it's pretty obvious that interest rates aren't still going to be zero, and it's pretty obvious that global gdp will be meaningfully higher than today. because of that we think some of the stocks that have struggled because of the news flow, companies that will benefit from higher rates like the financial services companies, especially banks and companies that will benefit from gdp growth, especially in the emerging markets, like the cyclical companies, are names that provide pretty attractive opportunities. >> you do say being a value investor now is like being a cubs fan. i guess the suggestion

polman: the shareholder confuses the short-term and long-term. there's a short-term pressure that is not healthy. most runmpany life, only 18 years on quarterly profits. solve issues of food security, employment, climate change, access to water, it requires a longer-term. that's in the interest of shareholders, provided you are a long-term shareholder. we want to pay out over five to six years. our biggest investments are in people. increasingly, businesses see good reasons to do that to invest in the planet. the technology is there. of not doing it is costing business more. we have parts the world like sao paulo. the water resources there are only 1/12 of what they should be. people don't have water. when they don't have water, don't -- they don't take showers. they don't wash their hair. electricity stops. business feels the cost of these failures. is to create business opportunities. hungryple who go to bed have no opportunity to go by food. -- buy food. francine: do you think this year we could get an agreement? mr. polman: we will. a lot of w

thethere the ways government could shift it more long-term?d bee markets left alone to produce their results. you could require holding periods. all of these decisions are policy decisions. the biggest one in this country be do you want to interfere with the operation of the free market? david: won't that drive transactions to other countries? howard: it could. i am not advocating it. david: is there anything you do advocate? howard: i advocate thinking about it. stephanie: central bank intervention has served the markets well. it has not served america over the last five or six years. investors have gotten hooked up. howard: asset owners have done extremely well. david: it has not worked for the american people. vers have not done well under quantitative easing. financial bets a for a living have done nicely. some activist investors have a longer-term view. jeff smith, with what he did at in it and is still executing the long-term view. it is interesting. we know bill acma and takes the long term view. dan loeb is much more short-term. stepha

now, this stock has been a terrific long-term performer. has given us a 23% gain. they have more room to run. let's talk to the ceo, to learn about the deals and the company's prospects. have a seat. >> when i first saw it, i said, off base. i'm used to going down the aisles and seeing your stuff. and not seeing your stuff in a high school. but it does make sense versus the channel. you like new channels, don't you? >> this is a very -- it a market leader. it has a brand that you know, students and schools alike recognize and the realty is, it brings us in to a new distribution channel. our business is to make products that we can sell in to as many channels as we put our products inand it's a new edition. >> you have terrific sporting goods programs? >> our rolex does business in schools and deals with the same departments and schools universities. there's going to be an overlap for sure. >> it interesting, in the conference call. some of the analysts questioned why did you get it so cheaply? was it a declining brand? >> well, we try to find value. don't forget we

long-term this is the kind of market if you're looking at a long-te long-term, five, 10, 50 years investor're picking spots in energy and materials where you're getting a phenomenal return on names that can withstand these markets. >> we do like energy. we liked biotechnology but put a wet blanket over that, hillary clinton made comments, other politicians it's in the cross hairs of the public. when we are talk being pharmaceutical, we used to love this pharm system, biotech, we are selling into rally. we like large cap domestic. thee quarters of performance will come back to dividends, go the old fashioned way when it comes to markets looking at dividends. >> utilities did well in the third kwart for that reason. we will come back with the closing count down. 400 million to buy. that's the buy is to the upside from art cashin here. >> when we come back we will bring you president obama's question-and-answer session at the white house as soon as it begins. stay tuned. they come into this world ugly and messy. ideas are frightening because they threaten what is known. they are the natural b

long-term we must look at the long-term of educating people and trying to get people to come togethermore unified fashion in that regard. >> right now in israeli cities palestinian workers can't enter to go to construction sites for instance because there is a feeling that right now they have to be kept apart. so is this really a two-track solution, as alex suggests, something long-term like education and also kind of a trial people? >> well, the formula that ultimately a solution is a divorce rather than a marriage is proving really complicated to enforce in an area as small as jerusalem. and we are two nations that have grown and if they want to admit it and extremely independent on each other in many respects and i would begin by suggesting and disregard that the idea of education is extremely essential but it does take two to tango and arabs who live in the proper tend to have problems with educating their own societies about what it's like over the 1948 and these are the education curriculum that are by the administers of education and laws and regulations which they are entitled

angie: what does that mean for the market outlook in the asia-pacific of a mid- to long-term for you?ve. aen with china being down little bit from an economic perspective, from a long-term perspective, there are a lot of aircraft any upgrades. there are a number of militaries that would like to upgrade their fleet overall. not only the commercial side, of course. this is the century of asia. even though economic indicators have been down recently, looking from a long-term perspective, the number of people moving into the middle class and honeywell's products, we are very bullish about the mid-and long-term. we got earnings reports from lockheed martin. theof the bright spots was aeronautics division. this is a sector seeing growth. to your point, the region is looking to expand. still, there are challenges here. you may want to build and help reduce a lot of aircraft. but the infrastructure is still very weak. how do you meet those challenges? well, from an infrastructure perspective, there is a lot of building. if you look at the forecast from an air force perspective, that is all co

solution to a long term problem. thank you. >> thank you very much. i appreciate you mentioning that going upstream. thank you. we have mr. mike -- michael lennon from public works. i appreciate you being here. i understand you had a meeting at 3 and from planning john from dbi. >> mike -- i want to talk about what that division does and about public works in terms of what the other operations handle as far as cleanliness. the office enforcement division we are focused on trash related issues such as garbage levels, we use private conditions and dbi when it's on property. >> i have been told that it's hard to hear. if you want to speak close to the mic. >> mainly blight enforcement we are concerned with blighted vacant lots. building usually handles more structural aspect of it. when there is structures in terms of graffiti, we have awnings we'll send a notice to correct. >> do you have to get compliance when you get a violation because sometimes we see properties without a long time. >> usually we see trash and othe

at a long-term solution students say is not clear.nt a clear commitment that however the government approaches the issue of university costs, it will not be done through raising tuition fees. can you -- once again can you give that commit that after 2016, and 2017, universities will not try to raise tuition fees? >> that is the short-term solution in terms of the meeting to took place today. but it was agreed by [ inaudible ] with the university council, the vice chancellor, the department of education, student organization to look at a long-term solution that would look at not only the raising of fees, but the whole question of fees, whether they should be done away with, to the point where a parent pays 0% of any fees forking student education. that matter is now firmly on the table, and it was agreed that there needs to be more meetings to discuss that matter. >> all right. are you satisfied now that the protests we have seen from students is over? >> well, as soon as the issue on the table was dealt with, the point is the issue of

we are your the end of a long-term debt cycle. tot cycle of being able raise -- you have interest rates going to 0%. you have spreads that have come down. those spreads that have come down means that asset prices have gone up. is very expected return low. bonds are at two point 25%, you know you will get for the next 10 years. 2.25% on your bonds. the equity price premiums look like 3.5%, 4% on that. all of the asset classes now are aligned with normal risk premiums. that sort of thing. that is why interest rates rise faster than the discounts in the markets. tom: for this room, which i might point out, those of you on television radio, and .xceptionally competent group with that said, within the framework of your machine, do you presume a jump condition as central banks come out of this, or can they manage it with smooth vectors and a smooth flight path? ray: i don't believe they can raise rates faster than is discounted in the curve. that interest rate curve, and other words, the rate at which it is discounted to rise, is built

it simply doesn't appreciate the strength of the long-term story here.hey take -- they made big changes and nobody seems to notice. i have to agree with them. and given that it seems pretty clear peltz will now help surge the ego makes the story more compelling. i think tomorrow morning's earnings report has potential to be fairly ho hum. there's nothing probably new. that could disappoint those expecting some big pop in the stock like peltz got in for like that. come on. between ge oil business and exposure to china, i think it will be a good quarter. maybe not a blowout. remember more than 80% of the company's sales have nothing to do with either oil or china if you are perturbed about either. and rallied 20% since bottoming in late august, any sub par performance is likely to cause profit taking. here's bottom line, now that nelson peltz is involved with general electric, i think you need to join in and buy this stock after the company reports tomorrow morning. i bet you could pull back and get an excellent entry point. even if the stock doesn't come