cap. -- the michael shaoul camp.timeframe is shorter than his, isn't it? >> yes. i believe is a stronger economic cycle than he does. >> beef is beef, right? >> we will talk about that. commodities are not boring. >> the first but she will see inflation is not in cpi or even in ppi are and what you will see is a real dispersion of corporate earnings within the s&p 500 between sectors that have pricing power and parcel the costs onto their customers, and other sectors have to absorb the costs and we'll take it on the chin in the reduced market. >> have seen the cost being passed on to customers -- starbucks, chipotle -- and they are passing that through, to your point. right now?e do i buy >> i think it is the commodity related equities that you want to be in. semiconductors, for instance. we would view semiconductors as a commodity. semiconductors have genuine pricing power for the first time in more than a decade. >> fascinating. michael shaoul will be with us for the next -- for the rest of the hour. coming up, we