michael kate once called is a multipurpose army. in the 19th century the federal government is very limited. they don't have many deployable resources. and so the army does a whole variety of things. they are discoverers, explorers. army contracts are an important part of the western economy. the army plays a role in conservation. in the recent ken burns says on the develop of american national parks, the parks were established in the 19th century but there was no one to protect them or preserve them or keep trespassers away or keep hunters off of them. and so the army really because of the efforts of the commanding general at the time, the army steps in and literally saves the national parks and to another organization can be created. from our english traditions and revolution and war traditions, we fear a standing army as antithetical to liberty but again it's hard or modern observers to realize because now the military is one of the most trusted institutions in the united states. but that wasn't the case in the 19th century. and

michael kors kate spade, they came along to take the whole business and bring it down one level maybelevels to provide aspirational luxury which brought a broader customer into the lifestyle. olivia: are the diffusion brands no longer relevant? mortimer: i think many of them dolce and cub on i got rid of dn g. they are taking a more elastic approach to price point. there is a does using -- a diffusing of the high brand. europeans they are taking their price points to the tory burch's of the world. olivia: they are lowing prices. mortimer: if you look at vuitton prada, they have to lower prices. olivia: there are different tiers of luxury. there are the absolute luxury brands and then there are the brands like gucci and prada luxury labels for the masses. they go on wholesale and they go on sale. what is the distinction between the two categories? mortimer: the price points are on the same level. the waiting in them is lower, so you are able to get a broader customer. some brands are above the brands listed on that page, like a chanel. more limited distribution and have a higher price

kate: you think the chance of the eurogroup and greece will reach a deal by the friday deadline, you think the chances are good? michael: the market seems to think so. the market is thinking the grexit is a 20% call. i and mark second-- i am more circumspect. there seems to be a little conditionality attached to this. not the increasing budget surpluses the troika is looking for in the existing program. it is unclear where the middle ground lies. ultimately i think greece's government has a dtrilemma. it wants to keep greece in the euro, remain in government, and deliver economic relief. i'm not sure they can get all three. kate: what about details about the request. doesn't seem the -- doesn't seem the greek government is capitulating or are they standing their ground? michael: i don't think it is capitulation. one of the concessions is the imf is still in the frame. that is something which is somewhat different.. in terms of the commitments to fiscal balance, they were running a fiscal surplus before interest of 1.5% of gdp last year. is this a relaxation? it is certainly not tightening which is what the program dema

our friend michael peltz gives us a first peek live at the winners and losers along with our own kately who follows this area for us. all right, michael. tell us how you did this survey as you have your -- show the magazine, michael. hold it up there. we need to see it. >> there it is. >> how did you do this, sir? >> we go out to institutional verz, foundation pensions endowments, fund of funds, and we did this stagt after labor day, and we did it right through thanksgiving. we ask them to fill out a pretty detailed survey across eight different metrics, the funds that are invested. the thing is also if you are an investor, you can't actually rate a fund unless you've had money with them in the past 12 months. we're trying to make it fair that they're not going to penalize someone that they had money with in the past and they might have bad feelings. >> the raw performance and how they did. >> what are some of the other metrics metrics? >> there's also a risk management. >> for people that don't know what alpha is. >> better than the market. >> better than -- >> what else? what else a

kate kelly will get into that a little bit deeper in a little bit. where is the best place to be within this market right now? >> well i agree with what michaelaid, michael block at the top, as far as volatility. but as far as this thousand point move that you're talking about in the month so far. >> in the dow. about 800 some, 850, 870123450 take a look at that percentage move out of an 18,000 point index versus the $9 drop in ovx, the oil volatility index that michael, one of the many he's addressing with that, i think that 13% move is phenomenal and shows a calming in the markets there. some of the folks who wanted to be out there flame throwing and throwing molotov cocktails on the market have been wrong. citi, you know, i respect the heck out of the analysts but look at how wrong they are. $20 oil, $10 oil, $5 oil. we'll pay you to take oil. not true. none of that playing out. now we're back into the mid 50s for oil and i think we stay there. 45 to 60 is where i think we are for the year. >> what do you make of the ability of this market to overlook for the most part any of the risks that get in its face? >> look, i would point out the s

michaels right here on "today." >>> another nbc show that premiers tonight, it already has people talking. "the slap." it has people talking at a back yard bar-b-que. another parent is correcting another person's child. kate we invited a group of four parents, a local stay at home dad of a y50e6r8d. a mother with three older children from atlanta and a psychologist and mom of three young kids from maryland who told them we want a no holds barred discussion honest talk about where we all draw the line when it comes to disciplining someone else's kid. >> do you think they should be swinging the bat like that? >> we started by showing the key scene in the first episode of "is slap. request itself. >> when adults talk to you, you listen. why are you swinging the bat like that? >> it would not end well if someone put their hands on my child like that. it wouldn't. >> as a parent you are put in these situation, sometimes you have knee-jerk reactions that may not appropriate. >> we need to be equipped with mechanisms to cool and calm ourselves down. we can't lay our hands on them. >> i think it's interesting to take into account that there is going to be different cultural variables that were probably at play. i