we talked about the last several months valuation, michael farr and i have coincided on this. the valuation for a lot of the great properties around the world are at such low valuations, ridiculously cheap is the phrase you and i have used. apple computer, short the stock as you know, i always pay attention to doug, the stock at a major move up over 20%, but still -- $500 stock with $100 in cash will earn $50 for one of the world's great companies. so it's up a lot probably could pull back any moment, but the fact is it's ten times before you take the cash out these are crazy numbers. >> michael farr, what is your best guess on spec ific investo stocks. let's get down to brass tacks. >> you're hurting, the techs have been great they were on fire today and really driving things. the consumer staple seemed to have pulled back, energy starts to look good particularly if we have trouble in the middle east. we're not seeing any real inflation out there anywhere. that would lend itself a little bit more to the banks that would lend itself a little more to some of those commodity com

get me a stock, michael farr.ive me two stocks in the next 16 seconds. >> in the next 16 seconds, i continue to like cisco, the tech company, and i like johnson & johnson. there is a good barbell. but the market is up 20%. be careful jumping in here. this is not the time to get aggressive. >> brian kelly, i need a stock. >> u stocks are on the rise. >> you guys are fantastic. thank you very much. we appreciate it. as always. all right, folks. serious stuff. we have breaking news coming into cnbc. a plane has landed on its belly at newark airport. passenger, fortunately have been evacuated. thank god. you're looking at live pictures coming in from our affiliate, nbc. we're going to get a live report and then check out all the latest headlines next. i'm kudlow. please stay with us. thank god this thing is going to be okay. i love that my daughter's part fish. but when she got asthma, all i could do was worry ! specialists, lots of doctors, lots of advice... and my hands were full. i couldn't sort through it all. wit

more questions next week and our guest this evening on street critique is michael farr. thanks michael. >> thank you. tom. >> susie: i guess you could describe today as a little nervousness and anxiousness about what's going on in greece and that will carry over into tomorrow and probably a lot about the topic you were discussing earlier on cisco, good news there. so earnings here and worries there. >> tom: earns here and europe over there, have to find that balance here. so let's get folks updated with tonight's market focus. the major stock indices inched higher on earnings news as there's still no new deal on greece government spending. the s&p 500 swung from a morning gain to a midday loss to end the session up three points. this is its highest close since july. the financial and technology sectors led the way higher, with industrials coming in a distant third. bank of america led the dow higher, up more than 3.5% on almost twice its usual volume. this is its highest close since august. other financial gainers include hartford financial, up 7.5% after acknowledging i

let's go to michael farr, and author of "the arrogane cycle" okay, i don't disagree jeff that the fed is important and the fed has of course been a tail wind for stocks, but i want to note if you go all the way back to the bottom of the the market which was in march of 2009. the s&p 500 is up 99.5%, call it 100%, call it a doubling. now, it's more than coincidence that earning are up 103%, almost the identical number and by the way that does not even include the most recent numbers, but the stock market is up 103%, i ask you who is more important, the fed or profits? >> clearlily, they have a 1-1 relationship, between the profits and what we have seen in the stock market. valuations you would have thought, you would have seen pe's rise, but this is all about profits. and if you take a look at what the fed has done, they may have helped to avoid a disaster or back stop some of the financial system, but it's not like the money that they pumped into the system has resulted in huge growth in the money supply that is stimulating the economy. so there's a break in the link there from going