i don't think anybody believes that they can challenge putin now. >> i think novotny probably believese putin now, and i think that his kind of politics, is the art of the impossible, and that each though i disagree with most of his positions, i think that it's incredibly admirable and i think that that's exactly the way to go up against putin. i think the thing to understand about novotny, though, is that he has not been able to create a political organization yet. he has an amazing sort of media outlet where he investigates corruption. he publishes the results and they reach a lot of people when he calls on people to come out and protest helpeds of thousands of people come out, but it's not political in the sense that it's not these people aking together. >> every individual, his call comes out into the square and goes back home to rage at the tv again and the reason the kremlin will not be on the ballot because if they do he'll be able to convert that currency to an actual political organization, and that is simply not conceivable in putin's russia. >> back to putin and his claim to

euro, we had interesting comments out of novotny who said the strength of euro is a cause for concern. and it is interesting that the ecb are yet again beginning to start doing some verbal interaction as far as the currency is concerned. they have a manner of jawboning the currency when levels get slightly uncomfortable so novotny saying the strength in euro is not comfortable >>> let's look at some of the stocks moving this morning shares in asml hit a record high on the back of better than expected fourth quarter results. they reported net profit well above expectations a number of customers asked for early deliv rer eries in the la quarter. >>> nestle is selling its u.s. candy business to ferrero for 2$2.8 billion they are offloading brands such as crunch and butterfinger they cited weak performance in the u.s. as reasons for the sale ferrero will become the u.s.'s third largest confection ary coy >>> republicans and democrats have hit a sticking point over u.s. immigration reforms with some republicans unwilling to extend protections for young immigrants shielded by the so-called

year's presidential election russia's constitutional court is refusing to review a complaint lodged by novotny who was barred from the race because of a ford conviction. tens of thousands of people have lined the streets of peru's capsule lima to welcome the pope on the final leg of his south american tour as leader has appealed to the pontiff to help resolve a political crisis following the pardon given to former president fujimori. those are your headlines on the back with more news had on al-jazeera that's after the strain stay with us. facing realities growing up when did you realize that you were living in a special place the so-called secret city getting to the heart of the matter the myanmar government calls you a gringo the terrorist hear their story on talk to al-jazeera at this time. ok and you are in the stream today the stream at sundance we are kicking off a special series of shows from the film festival in park city utah with a look at the documentary chi lash so grab some popcorn i'll enjoy. the making i guess a. family. hit over the movie i was telling. the international labor

director and portfolio manager of pine bridge investments is still with us it's interesting that novotnys taking shots at u.s. equities being overvalued here and not so much german real estate. taking a step back from that there's a lot of momentum in the european economy will that present a good trading opportunity for 2018 >> we do, but on a selected basis. you're seeing euro strength, maybe not today but an upward trend towards euro strength for this year as policy normalization proceeds, that can pressure earnings from more of the large caps that are more export oriented. so we think that domestically oriented stocks would be perhaps a better place to focus in europe where earnings can still grow and not be challenged by the currency >> i was reading in your note that you said that the capex cycle only recently started, and you expect that to persist why is that the case what indicators are you looking at to gauge whether or not the cycle will continue? >> we've had a decade almost of lack of corporate investment lack of confidence on behalf of companies to invest. that's changing. 2