hailing oppenheimer said political essayist for the ages. and excelling in the portrayal of the personal torments and calls to subjects in the transitional struggles and an insightful narrative that inspires soul-searching among political leaders of every stripe. politics and prose presents daniel oppenheimer. [applause] >> thank you for being here today. it's really exciting and i want to thank politics and prose. i think it's a rite of passage for political writers in particular to do a reading here so it's exciting for me. before get started i just wanted to say one or two more things. one is to my wife jessica who is here today who is sort of a part of the book in more ways than i can take it away. i try to get added a little bit innate knowledge meant but thank you for being here with me and being with me through all of this. want to say hi to my kids. i think that will be exciting for them. what i'm going to do is i'm going to give you i guess what i would call it genealogy of the book. that will get into the themes of the book some bu

hailing oppenheimer said political essayist for the ages. and excelling in the portrayal of the personal torments and calls to subjects in the transitional struggles and an insightful narrative that inspires soul-searching among political leaders of every stripe. politics and prose presents daniel oppenheimer. [applause] >> thank you for being here today. it's really exciting and i want to thank politics and prose. i think it's a rite of passage for political writers in particular to do a reading here so it's exciting for me. before get started i just wanted to say one or two more things. one is to my wife jessica who is here today who is sort of a part of the book in more ways than i can take it away. i try to get added a little bit innate knowledge meant but thank you for being here with me and being with me through all of this. want to say hi to my kids. i think that will be exciting for them. what i'm going to do is i'm going to give you i guess what i would call it genealogy of the book. that will get into the themes of the book some bu

with oppenheimer fund. the dynamics of interest rates wrapped around sluggish economies, wrapped around two baseball teams in new york that needed better august. this is bloomberg. ♪ francine: i'm francine lacqua in london. tom keene is in new york. waror: uber has ended its in china. they will take a market share in didi. uber investors haven't pushing profit ine china sisony postede the latest quarter. ony got a lead in gaming consuls by launching a virtual reality headset. a plan involving private investors to bolster finances for an italian bank. unicredit was the second worst performer in the stress test. francine: thank you so much, taylor. let's get more on the european bank stress test. nick, great to have you on the program. you have been looking at deutsche bank and barclays. were they tested in the right way with sufficient stress? nick: well, it is a question of who you ask. there are a lot of banks complaining how tough they were before hand. we have a lot of criticism of banks saying they coul

tom: we will continue with oppenheimer funds. odd friday earnings report.ey have their own a same-store sales issue. what do you see on john deere? i know about tractors a lot more than people think. we did have an interesting story. big deeper because of this. they sell secondhand tractors. tom: sales are down 10%. that is a global measurement of where we are. that showed that as well. let's take a look at this data board. the fix is 11.98. there is oil rounded up to $51 a barrel. this is bloomberg. good morning. ♪ tom: francine has been waiting for this all morning. we have a weaker yen through the week. it is strong over the last. the mexican peso is at the bottom. there is a stronger peso showing a resiliency to emerging markets. francine: common up soon it's bloomberg go. i know you have a packed show. tom, weust like you and will talk about the fed. have pimco to sort through all of that. tom said it and i agree, it's one of the most fascinating jackson holes we've had in a long time. we will hear more from blackrock. this is what has happened over at

reporter: racine horlick assistant football coach kyle oppenheimer's fulltime job is at g.e. healthcare. so he started the non-profit helmets to heal to better protect football players at the high school where he graduated as well as other schools. >> really try to lower the numbers of concussions on the field so that these kids, down game we have enjoyed in the past. reporter: helmets to heal donated 11 top-of-the-line concussion-reducing helmets to racine horlick as well as 7 to racine park. those xenith brand helmets are going to players in a program that can't afford to buy state of the art. >> it is a perfect fit. reporter: xavier paez wears one of the new 5-star rated helmets. >> we just had a game thursday. i took a couple of head-on reporter: coach oppenheimer says he wants kids like xavier to succeed in the classroom and worry less about concussions. in racine, terry sater, wisn 12 news. anchor: last week, xenith issued a recall of football helmets over reports of cracking. the coach says he checked with the manufacturer to make sure none of the donated helmets are o

amy: i want to end with michael oppenheimer.epresented a number of people on police brutality cases in chicago. what are you calling for? o'neill fitl into the story on the anniversary of the death of michael brown? michael: first of all, i am asking for a special prosecutor to look into this case immediately so there is no bias to see what went on and call for answers to these questions, and answers in the community. we could have body cam is, but we need to have this stopped. when you have people in the community interacting with police in a special way. police need to be held accountable just like any other profession if they screw up. amy: we will leave it there. michael oppenheimer, the lawyer for the paul o'neill family, and charlene carruthers, the director of the black youth project 100. we will have a conversation of what happened in pakistan on democracynow.org. democracynow.org. xt, star chef hubert keller is ready to rio at the most beautiful and historic teahouse in the city, at a lavish feijoada buffet in ipanema a

michael oppenheimer is a civil rights attorney now representing the family of paul o'neal.el, what do you make of the reports of these threats for the entire police department as a result of what happened? >> so i have heard these reports. i think first of all, no one, not the o'neal family, not me -- no one wants police officers to be injured or hurt. there have been way too many this year alone. they have a very, very tough job, and they lay their lives on the line every day for the community. however, i think that these reports are a distraction. they are a distraction from actually what's going on here, and that is you have an unarmed african-american kid who was shot in the back by chicago police officers. i think that this is a distraction. no one -- no one wants any police officer to be hurt. nobody wants anybody to be hurt, but this is a distraction. >> all right. so you said that the officer who fired the fatal shot intentionally shut down his body camera. how do you know that when no camera actually captured that happening? i mean we know that there was nine diffe

the shares were upgraded to outperform, with oppenheimer saying symantec is now the block."e oppenheimer has a $28 price target on shares of symantec, suggesting shares could rise about 25% from current levels. vonnie: they must be some other winners, right? abigail: indeed. up 1.3%, now higher on the year. another top percentage performer, and also a top point boost for the overall priceline, busting the bearish trend of quarterly reports and guides from competitors expedia and trip advisor, beating earnings ebitda estimates and raising the third quarter view for bookings guidance, which many see as an important factor. an analyst at jefferies has raised his price target to $1700 on priceline, suggesting the stock could climb about 17% from current levels, so lots of strength here for the nasdaq. vonnie: let's check in on the bloomberg first word news. courtney has more from our new york newsroom. courtney: donald trump 's running mate mike pence is brushing off republican concerns of turmoil in their campaign. the indiana governor spoke earlier on nbc. >> the only poll tha

el real como favoritos el puerto mexicano estarÁ compartiendo casa en eje con en canciÓn de la oppenheimeradora. el -- chavo bravo fue transportado por 15.4 millones de euro. el portero firmÓ un contrato de patraÑas serÍa el titular. ilia: asÍ concluimos con la ediciÓn, ponemos de las 11 con julio cÉsar largo en segundo comienzan noticiero nacional univisiÓn recuerde siempre no puede seguir las redes sociales facebook twitter visita la pÁgina de internet univisiÓn 65.com. gracias por su compaÑÍa infiel sintonÍa. ♪ ♪ jorge:jueves 25 de agosto. donald trump le pide a jÓvenes hispanos y afroamericanos conservadores que lo apoyen y surgieron nuevos cambios a su radical postura sobre deportaciones. fueron tres los hijos del chapo guzmÁn secuestrados en vallarta. terminÓ el conflicto armado en colombia con la orden presidencial del cese al fuego en contra de las farc. el 2 de octubre serÁ el plebiscito. su cara lo dice todo, emocionado y feliz se mostrÓ el bombero que recibiÓ el primer transplante de rostro al aÑo de su operaciÓn. hablamos con su cirujano cubano. ♪ ♪

michael oppenheimer represents o'neal's family. >> these police officers to play judge, jury, and executioner. >> reporter: the video was made public eight days after the months it took to release the oe shooting and killing 17-year-old laquan mcdonald. eo he thought he shot o'neal knew early on there would be >> the police out acting reckless. >> reporter: chicago police superintendent eddie johnson tried to have a news conference outside police headquarters but he was shouted down by prot >> he was down and started shooting. >> reporter: three of the officers involved in the shooting have been placed on administrative leave. we reached out to those officers for comment but got no reply. maurice, the superintendent, the police chief here in chicago,ppl banning officers from shooting at moving vehicles. >> dubois: jericka duncan for us in chicago. dallas is another city where the police and the black community relationship. but that may be changing, thanks in part to a call to action after the murders of five officers last month. here's omar villafranca. >> reporter: the attack shocked the na

rob oppenheim. tide for ninth. he had six in the round. here is a little fact. the red sox catcher tonight were baseball teammates and in andover high school. hes with on the tour hannigan was not. when i explained that. if he goes shall it worked out well. >> way. >> you think? >> yeah. >> love it. >> love it. >> love it. >> very good. saturday. >> saturday is a stormy day. not all day rain. it is a line of thunderstorms that come through and go back outside after a little while. you may have to move things inside. it looks like rain. >> oh, yeah. >> fantastic. ? >> dicky: from hollywood, it's "jimmy kimmel live"! tonight, morgan freeman! cooking with steve martorano. this week in unnecessary censorship. and music from young the giant. with cleto and the cletones. and now, [ cheers and applause ] ? >> jimmy: very nice. i'm jimmy. i'm the host. thanks for watching. thank you for coming.

(michael oppenheimer/family attorney): "these officers had their own street justice. in their minds, they played judge, jury, and executioner." the officer who shot oneal did not have his camera on at the time.. but other video shows after the shooting.. with o'neal on the ground getting handcuffed.. his shirt is covered in blood. three officers have been removed from the chicago police force. an arizona woman after police seized over 50 dogs from her home. the animals were left outside with little food, water, or protection from the heat. temperatures in glendale this time of year are well above 100.. leaving the animals extremely vulnerable. officials say the dogs were agitated.. and are now in the care of a behavioral team. 55-year-old laurie collins is facing multiple counts of animal cruelty and neglect. here in the valley... the fate birds rescued from a possible cockfighting ring in a valley neighborhood is up in the air... the animal foundation released this statement saying... they received a lot of inquiries regarding the final disposition of the approximate

oppenheimer is upgrading it from outperform to a market perform. motorola solutions up 4.3%. boost to a $2 billion the share buyback program. micron is up by nearly 3.4%. july rose 4.6% versus a fall from june. david: with the jobs numbers, there's been a move away from stocks. ramy: in terms of currencies and commodities, let's take a look at the dollar index. we are up by about .4%. let's take a look at the u.s. 10 year -- two-year yield. at that by seven basis points. the most sensitive of all the treasuries when it comes to potential interest rate rises. david: thank you. vonnie: let's check in on the bloomberg first word news. mark barton has more. mark: donald trump expected to endorse paul ryan. fox news says it will happen in wisconsin. paul ryan's primary contest for house reelection is tuesday. donald trump earlier declined to endorse all right, well his running mate did back the speaker. former kkk grand was her david duke's getting more support from black voters in his u.s. senate race. in louisiana, that donald trump is in his bid for the white house. writes dona

and it is always managed by the university of california dating back to oppenheimer.t of private industry. and the first thing they did was fired 450 people. there was up place i could get a window of transparency that i couldn't before because most of la contracts be require arbitration but i remarked earlier with of litigation but then i realize they are all arbitration which is private so you don't have evidentiary discovery. but in this case all of the employees at contracts with the university of california . there was an opening to file a wrongful termination lawsuit which opened for discovery and at was a gold mine of information. c-span: how much money has the bechtel family made? >> guest: hundred did hundreds of millions and billions. again they report from time to time on their website that you have to take him at their word. c-span: beside us the bechtel on the front of the book but is, jr. alive? >> guest: yes. he is quite elderly as well i am sure he is well retired c-span: no% to appear of us we are not selling to the public. >> that is when he gave in

this is michael oppenheimer, the o'neal family's attorney. >> officers cannot exact their or they cannot play judge, jury, and executioner. that is what happened here today. thewhile paul laid dying on ground, their attitude demonstrated it. amy: it is said that police had a right to be upset. this is from saturday. >> i was concerned in some of the things i saw in the videos. that is why i would take -- that is why i took such swift action last week. amy: police say three officers have been suspended in relation to the shooting. the release of the video comes as chicago police face ongoing accusations of racism and a federal investigation into their practices after chicago waited more than a year to release video of the fatal police shooting african american teenager laquan mcdonald in 2014. in news from the campaign trail, dr. jill stein formally accepted the green party's nomination for president at the party's convention in houston, texas. the green party nominated human rights activist ajamu baraka to be her vice presidential running mate. this is dr. jill stein in her acceptance sp

bring in brian nagle the senior retail analyst at oppenheimer, welcome, brian. >> good morning. >> lookserform on this stock, $80 price target. was there any improvement in the tiffany results or are they getting better at managing weakness in sales. >> i want to be clear. i like tiffany for a long time. long-term basis. but as i look at this report today, i very much view it as mixed. i think you highlighted it. sales were weak. and really weak across the board. particularly in the americas and mostly the united states and europe. where the company really beat earnings and to their credit they controlled costs much better in the quarter. the sales line is challenging for them right now. >> is this sharp reaction 6% move higher? stock still down 10%. under performer so far this year. do you think it's a little overdone? >> i'm surprised to see tiffany with these reports up 7%. i've had a number of my retail companies report results this week and over the last couple weeks, there's been the bounces on weak results. what that tells me is the market is to a certain extent saying bad news is

for paul o'neal, today we were here with his mother along with his sister and his lawyer michael oppenheimeraphic video and they can only take so much. once the gunshots started, they immediately left the room, were crying, breaking down, saying they can't be here, they can't watch it, they have to leave. so we had to take them out. get them home to get themselvess together. because this is very heart breaking for them to see their son and their brother go the way. >> >> reporter: now, this is not the first time chicago goes through this. of course we had the laquan mcdonald shooting and the shocking video of the 16 shots fired by a police officer. now we see this, again as a local activist, brigg attention to these cases, do you see progress in the chicago police department? a seen that things are going to get better? >> you know what, they're still getting wins. the community is not getting what they want. we asked for body cameras. we got body cameras. when they shoot us, the body cameras aren't working. we still have a lot of work to do. i'm very interested and continuing to pressure the

justin, director of oppenheimer funds, live from beijing for us. alix: it is all about inflation.ow you three charts that will dig into why inflation expectations are so low and what, if anything, and boost them higher. off the charts is next. this is bloomberg. ♪ alix: this is "bloomberg ." i'm alix steel. some fed officials say inflation is not picking up, but one area holding firm is inflation expectations, causing a big fed.em for the this is what we got out on friday from the u michigan report. it continues to move lower down 2.5%. it is the lowest that we have seen in the past five years. that sticky inflation expectation has been a big problem for the fed. this chart explains why. this blue line here is the u.s. cpi. the white lines are the five-year forward breakeven numbers. you do see inflation start to move somewhat higher now around 2.2%. it is versus inflation expectations that are staying very sticky. keynote to desk you multiply this does not see through to a lot of confidence for investors, which is in part of the reason why expectation has been sinking so much

is krishnang us memani, with oppenheimer funds.f across the curve today, and fischer speaks, and there has to be foreign banks and buyers in there as well. it is really think private investors who are buying treasuries far more than the central banks. it's an interconnected world. capital moves wherever needs to. it one of the innovations that has impacted the fed's thinking. not that the markets are interconnected, but the outside impact that they have on other markets. in the outsized impact the other markets have on the u.s. if rates are going to remain low in europe and japan, the fed really can't tighten. if they tighten, the dollar would spike. they would basically go through 2015, 2016 all over again. that is where the market does not believe any of this talk from stanley fischer. alix: you saw the morgan stanley the fivet center, buy year because the fed is not going to hike. caroline: we see the probability of a hike coming down slightly, but still at 36% for september. is september on or off the table from your perspectiv

michael oppenheimer represents o'neal's family. >> these police officers decided to play judge, jury, and executioner. >> reporter: the video was made public eight days after the incident. a far cry from the 14 months it took to release the video of officer jason van dyke shooting and killing 17-year-old laquan mcdonald. the officer who said on video he thought he shot o'neal knew early on, there would be trouble. >> the police out here acting reckless. >> reporter: chicago police superintendent eddie johnson tried to have a news conference outside police headquarters but he was shouted down by protesters. three of the officers involved have been placed on administrative leave. we reached out to them for comment but got no reply. the police superintendent here says it appears a new policy may have been violated preventing police from firing at a moving vehicle. for "cbs this morning: saturday," jericka duncan, chicago. >>> the phoenix area is drying out from its latest round of monsoon-type storms. streets were turned into rivers on friday and forced several swift water rescues and dr

now, oppenheimer, i picked one of those great research firms.t a market -- they said something, i didn't see this when i read through the quarter. maybe i'm looking at it now. they say there's renewal slippage and slowing in north american group and sign of moderating beat and raise magnitude, we talked about beat and raise, how important it is. i didn't see those. am i not looking in the right spot? >> no, i'm not sure what they're talking about. it was a very strong quarter. there was, indeed, there was about $6 million of billings that jumped from june 30th to july 1st. these things happen. you know, sometimes purchasing departments run out of time. those things are completely anomalous because they close almost immediately in the next quarter so that's just pure noise. sometimes people are just too focused, you know, looking for inflections on a very short-term basis where they have really no bearing on the longer-term investment thesis. we pointed that out during all the callbacks and i think investors mostly got past that. >> last question

. >> their attorney, michael oppenheimer, made the point in his opinion, that these police officers were acting as judge, jury and executioner. he also alleged there's a cover up because one of the body cams malfunctioned. steve? >> tammy, thanks for that. and back to politics, we were showing you a second ago that trump rally underway in iowa right now. mike pence, donald trump's running mate warming up the crowd. this event underway with donald trump expected to speak shortly. it comes with nbc news learning that donald trump is probably going to be endorsing house speaker paul ryan in wisconsin later today. we say probably because with donald trump, there's always that uncertainty until he says it or does it himself. katy tur is outside trump tower here in new york, so in a way, it's amazing. the republican convention is over. we are totally in the general election right now. in the discussion is still around whether the republican nominee for president will endorse the republican speaker of the house in his republican primary. in his congressional district. looks like trump's going i

biotech,ve higher in according to oppenheimer. scarlet: thank you so much, apical doolittle.: crowdfunding was once seen as a godsend that gives small investors the chance to be part of something big. does crowdfunding even matter anymore? does it matter? >> absolutely. thank you so much for having me. there is no one in the tech fest sec or start of community that would turn down und a new source of funding. it is not quite tailored to the tech sector in some of the ways that it needs to be. pushed it have they forward? >> let's take a moment and say exactly what it is. for people who are not familiar, they may be thinking of a kickstarter. that is a different kind of funding. equity are talking about crowdfunding, this is a new phenomenon. it originally past four years ago with the jobs act of 2012. four yearsing at rollout. what it does is it allows everyday people, everyday investors to become shareholders in a company so they can invest in a startup and actually become a shareholder in the company. available to accredited investors since 2013. it is now tailored for ordi

ari wald with oppenheimer. happy because i screwed up. >> no. >> no what do you -- >> team player. >> on "fast money." >> come on, brian. keep it going. >> good buy at these levels? >> great buy. bounced 8% off the lows. sentiment strong. staring at the rig counts. i don't think that's -- that's a lagging indicator ultimately. opec thinks the market is correcting itself and i think oil stays above 50 on brent. >> yeah. they also, by the way, if you haven't heard this, tim, but for the audience, opec talking about a mysterious casual meetings to talk about production again in september. i went to doha for the last one. you think anyone can come and opec gets the act snogt. >> i'm not sure they have. it's all about what saudi wants to do and concerned about chinese market share right now. iran's back to pre-sanction levels and a lot priced in here and make no mistake. there's massive cutbacks of producers. seen oil rigs up. it's the sixth or seventh week in a row. this is a lagging indicator. the market is correc

we want to bring colin rush into the xafrgs from oppenheimer. we talked about your disapproval of the merger and coming to this latest move in terms of the autos business, what is your resanction? >> these are the incremental battery improvements we have been expecting. improving the capacity is an impressive feat from an engineering standpoint and this is, you know, a capability that we were very excited about. with the auto platform to do these things and roll the products out but like you said, we are not convinced on the return of capital. you know? opportunity for them with the solar city acquisition and still sitting on the sidelines with the stock here. >> what do you think this move, colin, could do in terms of sales rate and their cost as they now add this to the product line? >> you know, i think we see it as incremental expansion on the high end. folks that looked at the products and looked at these very, very fast cars, you know, want to see the fastest car in the world in their grand juries a en and so i think they pony u for the ba

but going forward, oppenheimer strategy team which has a price target of 2300 on the s&p 500 sees notnergy but materials leading the market higher from here until the end of the year. benefiting from the stabilization and energy prices, grass per yield and mna, including monsanto, and praxair and eco lab, supplier to restaurants and bars and a bet on u.s. consumers, names to keep an eye on potentially. kelly? >> yes, seema, thank you. >>> what other stocks can soar over the next year? welcome to you both. david, who do you think can rise 50% here? >> yeah, tell us, david. >> here is the recipe for trying to find these companies. number one, is there mistrust or doubtfulness in investor sentiment. second is the company's fundamentals improving from off the bottom? is it still trading well below its high over the last couple years? and to that end i think generalcy and wyoming, smaller white rail that operate in the mid cap area has the potential to do that. there are seven buys and six holds on wall street. still trading well below the 2015 high of $105 a share. fundamentals are clearl

still oppenheimer said they're bullish on the names like intel and cisco. for techs, next leg higher, and one of the bubble's biggest names is on pace for record close today. take a look at mr. softee. just about two cents below an all-time record close today, that's a 16-year 8 1/2 month high. all-day intraday split adjusted 59.97. guys, when microsoft takes out the all-time high, you have to think this is for real. >> who would have thought? thank you. oil hit a one-month high today. and as i mentioned friday, my gas station, local gas station guy up and down the ladder several times already. raising prices. sharon epperson buy at the nymex to prove it is like riding a bicycle. tell us about oil today. okay. she knows what she is talking about. >> sometimes it is only us that can hear it. this time it's everybody. >> we'll come back to that shortly. oil is up today. that's basically what we were trying to get across there. let's get to the closing bell exchange for this monday. ken from money matters with us. keith bliss is at post nine. next to him is ch

let's bring in senior analyst with consumer edge research and senior research analyst with oppenheimere you with us. james, i'll start with you. how much longer -- it's pretty much expected. we know tesla missed q-2 numbers. they have a history of missing numbers on deliveries. how much longer does tesla have a free pass given the solarcity acquisition? >> well, first of all, thanks for having me. and good afternoon. i would say that as you pointed out we know they missed delivery. so we know they're going to have some pressures on margin. and phil just mentioned one of the key items everyone is looking for is that 20-ish percent auto gross margin. so we think they're going to have a tough afternoon because they're going to come in lower than that number. as it relates to solarcity, you're asking a cash flow question really. so to the extent we get a pretty good read on the production guidance for the full year, 80,000 to 90,000 units, running about 2,000 units a week, that should be their answer for, you know, cash flow expectations going positive later this year and early into next y

. >> which is below at least i'm looking at morgan stanley, i'm looking at oppenheimer, everybody seemedw all speculating or saying you're choosing to invest some of your savings from lower than expected legal costs into the business and growth. that is right? >> that's -- yeah, that is right. so we're saving around $25 million or so foregone legal expenses and took about half of those and let it drop to the bottom line, raised ebitda, and took about half of those savings and invested in the business in product development and people and advertising. we view ourselves as being still in growth mode and it's -- at this point still a revenue growth story and not an ebitda margin maximization story so we're taking some of the profits and reinvesting in areas we think will pay off. and i guess some of the analysts wanted more of those savings to drop to the bottom line than we're prepared to do. >> as we have followed your growth story a lot of that has been driven by the base of agents growing very fast which i know you have told that story here on cnbc very well, but it looks like as the bu

lauren shares are surging after beating on both the top and bottom line and anna is an analyst with oppenheimeris a retail reporter with fortune. welcome to you both. john, both of these names are trying to engineer a turnaround. it looks like investors prefer the results from ralph lauren. where are we in both of those? >> both are facing issues because of the decliping traffic in department stores. that's -- they're both highly exposed to that and sell goods there. ralph lauren this year kind of outlined that they would have a double-digit sales decline. their current fiscal year. but the reason that the stock is doing well today is because they're beating expectation for the first three months of that fiscal year. and sales aren't down as much as people feared. they did say that sales were down 11% in north america and that's, obviously, very problematic. >> and look at kors, anna, big miss on comps. analysts looking for them to fall, 4.8%, instead sales 11.4%. pretty disappointing. >> yes, absolutely. michael kors talks about tourism being an additional drag to their business in a retail. f

morgan funds and john solstice, chief strategist at oppenheimer strategists.aking the case that some in the markets think this is actually the perfect market. david, you actually say this is far from it. why not? >> well, of course the markets done very well, but when you buy into a market, you think about future returns. i do think the market can still go up, but obviously it's not as cheap as it was. so i think in the short run i think the outlook's pretty good. over the next five years i actually prefer some international markets to the u.s. equity market right now. we've come a long way. >> yeah, the expensive part of the markets, john, i think is what the argument that a lot of people put forth that right now it's banging up against this historical high in terms of p/es. when you look at the rotation that's happening, people are rotating out of the more expensive sectors of the market like utilities as well as consumer staples, telecom stocks and moving into the lower valued areas of the market. isn't this all healthy market action? >> well, you know, i c

a slew of analysts downgrading or reducing price targets on hain including oppenheimer's he took down$52 to $45. why are we learning about this now? did the not appear to you until the company announced it was concerned about internal practices? >> yeah, so as i look back to q-3 and prior to that there's no evidence they had any accounting issues. the company went quiet period in the middle of june and this is really the first announcement we have received for them. >> okay. so how confident are you at this point in terms of reducing your price target? i mean, it has been, you know, really not an easy year for hain. i mean, it's gotten more competition on the baby food front, for instance, and saw some slowing sales growth there. at the same time we're in this mince of consolidation within this industry which really helped bid the shares higher. so in terms of ratcheting that down, how much of it is down because of that embedded premium because it was expected that it be a takeout target. and how much of that is because of this accounting issue which makes it more difficult to actuall

fadel gheit, oppenheimer senior energy study just to thank you. jonathan: breaking news. the u.k.by april, 2017. this is the so-called article 50. prime minister may did not want to trigger it before french and german elections. the french elections spring of next year and german elections summer or fall. we pivoted towards the cash open in new york. from new york city, this is bloomberg. ♪ [ clock ticking ] time. you only have so much. that's why we want to make sure you won't have to wait on hold. and you won't have to guess when we'll turn up. because after all we should fit into your life. not the other way around. ♪ everything is cool when you're watching a screen ♪ ♪ everything is awesome, ♪ when you're sharing a meme ♪ ♪ a voice remote, "show me angry kings" ♪ ♪ you know what's awesome? everything! ♪ ♪ apps that please, more selfies, ♪ ♪ endless hours of the best tvs ♪ ♪ brand new apps, shows to go, ♪ ♪ awesome internet that's super whoa... ♪ ♪ everything is awesome xfinity. the future of awesome. ♪ jonathan: from new york city, this is "bloomberg ." we are about 30 sec