and removed from the portfolio. they are more tactical around trading than other long-term investors. it has added value to the portfolio. as a result of their proprietary research and process and their evaluation discipline and historical returns have been exceptional. they've added 500 basis points of alpha versus the mici world and since inception and they consistently are the top and often in the top depth file. the risk adjustment returns are strong and their up captures north of 100% and their down captures 70% indicating they can preserve capitol in down markets. in conclusion we're recommending an investment of up to $500 million generation global equity strategy. generation is not only a leading global equity manager but a leader in sustainable investing. they will increase the public equity portfolio and we have a lower carbon footprint than the index. it views itself as a partner with their clients. they are a pioneer and leader in e.s.g. investing ex want to be a resource for san francisco going forward

the portfolio. >> in what way? >> as a diversifier. like i said, we've several dedicated china managers and we're over weight china and over weight i.t. so they don't do anything in china and they have very little in technology. their returns are less correlated because they don't have exposures that are very prominent in the benchmark. >> we don't have it here but i think we've said before, remember the emerging market index is cap weighted. it's three chinese technology stocks that have been about 80% of the return in that index and these people by definition don't invest in china. i a apologize for not putting the msci emerging market index without china but in the pond in which they fish, they have done extraordinarily well. they have not by policy been in china. >> so you mean their stock selective. >> when you take out the -- it's up 50% analyzed the last five years and they went public, i am not sure but the last couple years that stock. when you strip away the things they don't do and we have other managers

i can't count on this portfolio -- i have said no to portfolio, j and j, eli lillys and bristol myersey leave you way too exposed to risk. having an undiversified portfolio is not just that is the nature of the beast. a hedge fund manager who does that and gets lucky can market himself as a huge success. get profiled from every magazine here is the bottom line. whether you are an amateur or professional, you need to do your homework and keep your portfolio diversified. this is the routine textbook stuff that keeps you from monster losses down the line mike in south carolina >> caller: hey, jim, i was wondering from a new investor, say investing $100,000, how much stock should be in my portfolio? >> after ten, you are kind of a mutual fund. now if you are a real stock junkie, like i am, you can take on more, but ten is the maximum that people can do don't do more than that because you won't be able to do the homework roberto from texas. >> caller: i just had a question about, because i am a new investor i am 29. and i have a small amount. $1,500 and i am wondering how i should invest i

hardnk investors have a time moving around the portfolios quickly.e high-yield cbs is winding. people are looking for assurance. there hasn't been much high-yield supply coming into the market. is that a factor as well? there are supply and demand dynamics that certainly influence where the spreads are. valuationind a huge in credit. we are skewed more toward the emerging world. if you are looking for that yielded better potential, i would put more money into that. jonathan: give me more color on the timer if you think about emerging markets at the moment. >> a three year time horizon. it has lagged since 2011. this will be a multiyear cycle. jonathan: jack and george and bonnie are sticking with me. market check on where bonds have been through the week. the yields are about at the front end. the two-year is climbing back up. this is all unchanged despite the media coverage of the 10 year yield. ahead, the final spread and the week ahead, featuring a decision from the fed and the u.s. jobs report. "bloomberg: real yield." ♪ ♪ jonathan: i am jonathan

add to an absolute return seeking portfolio.f you do something that has a pattern of risk and return, even if it is volatile or binary, make a lot/lose a lot, but the returns that has nothing to do with the course of the stock or bond markets or anything else in your portfolio, that is an elegant part of the mix. ford: you ever do research a company, and someone calls up the ceo and says -- do this and that, they say, that is a good idea, i wish i thought of that? paul: is interesting, the way you are asking the question, it presupposes the response of the company is always either anger or hiding under their desks or some combination. david: and that is wrong, you are saying? paul: sometimes you are knocking on an open door. my style and your style as a is doing the work as thoroughly as we can to develop a thesis. to assess whether there really is a action or series of actions that can be taken to eliminate underperformance or a malia rate a situation. ameliorate a situation. generate a dialogue. sometimes you find you are knoc

think about the whole portfolio. vonnie: one of your specialties has been japan. true, right? right now, one of their sort of outlooks is u.s. versus emerging european markets. as opposed to the likes of japan and other markets. tell us about the position. macroeconomic position, as well is where the prices are trading. we were very recently, the first time i was on in january i was talking about how we are long all equity markets, but we have trimmed, because we think for a whole bunch of technical factors, as well as valuation criteria, we have less conviction. you can look at the macroeconomic growth factors ruling over a bit as well. we are neutral in those countries, we are not short. but we have taken risk off the table in terms of the overweight's there. and we have more conviction in the u.s. and emerging markets. vonnie: give us a couple of the countries. anne: we allocate capital cost the board, so we as a team are not picking individual countries, but what we really like is the fact that we think many countries who are going to be continuing to be export led, we wil

investors have a hard time moving portfolios around quickly. staying tight.ple are looking for insurance, they just can't afford it all at once. jonathan: there has not been much high-yield supply coming into the market. is that a factor as well? jonathan: there has not been >> there is supply and demand dynamics influencing where yields are spread, that sort of thing. we don't find a huge valuation in credit. we are skewed more toward the emerging world. i think that is longer-term. if you are looking for better yield and long-term potential, i look more toward emerging markets. jonathan: give me more color on the long-term horizon in em at the moment. jack: i am thinking a three-year time horizon. it has lagged since 2011. this is going to be a multiyear cycle. guests sticking alongside me. i want to give you a market four basis sticking alongside me. i want to give you a market check on bonds for the week. yields at the front end, the 2-year note climbingpoints. flatteningt of curve with the 30 year yield curve coming in at 3.13. the week ahead featuring a

hence, that is an allocation within this 100% cross asset portfolio. to say that because we are showing a chart right now on tv of the bloomberg gender equality index and it shows how over the past year and going further back than that, it has been outperforming the s&p 500. is that to do with the performance of those companies or is it a sort of self-fulfilling prophecy because it is a lot of focus on sustainability. so people are investing more in that now? there are -- simon: 11 trillion in assets represented here at the summit. it is the seventh year we have broadcast with bloomberg from this event. ist is noticeable this year how much focus there is on sustainability. not just from a wealth management perspective, but an institutional perspective. he had our opening panel yesterday talking about macro views. every panelist that some point during that panel talked about growing demand through institutional investors to her incorporating and sustainability aspects into their investment processes wasn't just the right thing to do, but added financial

which portfolio or part of your business will do better than the others?egion isr: the food operating well, especially with the food delivery business, which is another story. e-commerce business is something that is very, very interesting. that isan amazing team also growing quite fast, but even with this growth, one has to be realistic as well. you look at this growth and look at what is going on in the middle east and government policies. look at the world economy and what changes might take place. francine: what does that mean? do you expect a lot of growth in the middle east? do you expect it to grow threefold, fivefold? mr. alabbar: i would say that our real estate business should continue to grow about 20% a year. that is the shareholders' expectation. it is hard work to achieve that number and keep costs and margins under control. plus, macroeconomic issues in hand. a food business that should be growing 10% year on year in the region. keep in mind, we are talking about the middle east where there is a need for most industries to grow. i think the

i notice it's one of the top five holdings in your portfolio? >> our portfolio represents the u.s.rkets. so if it's a number 5 stock, in the index, it will be the number five stock in our portfolio. there is no question this is the exact example of a bully pulpit these tweets attacking individual companies, complaining about issues, instead of working through a governmental process it's ludicrous it drives me nuts and obviously as you said this morning, the market was ignoring this, but now we know all the president's handlers have left and now he's on his own and obviously it looks like he's running for the mid-terms already. so who cares abc what he saout s in his view. he loves rattling the markets. we have to deal with it. >> markets went through the process of gettingulesed to his social media now they will go through his tal rance for being lit ticket juins -- being littioigious >> the only way to send that down is by starting a trade war. we know that all the way back to the 1930s. it's textbook. and as you said, it's a looming trade war. i'm sorry, but yesterday's announcem

or portfolios?ohamed: we have india, our hospitality business, turkey, another business in saudi arabia. the reality is you can take all of these businesses public at the right time. within the coming three years, we will probably have india going public. hospitality, as well going separately. the public route. francine: how much bigger will you be? i hope to speak to you before but if i speak to you in five years. how much will your holdings be worth? mohamed: we should be double in value. we should have grown 20% to 25% on an annual basis. hopefully my management and my boards put that as a focus. i think we are capable of doing that. we just have to focus and make sure we have the right people. we do this day and night. that is how we do business. region. francine: acquistions or organic growth? mohamed: i would say organic growth. we haven't done much acquisitions. i am expecting we do more in the coming two years. francine: coming up next, going from bricks and mortar to retail. the push into e

we maintain that as a part of our portfolio diversification.han: through the year, ccc offered some insulation. i wonder if that can continue. >> part of it is due to the duration, obviously. for ccc borrowers, it is hard to say it is just from market sentiment. the move we saw earlier this year, a lot of investors were trying to sell what they could, and that was higher duration, higher quality. at western, we have been derisking. if there is another move down, we think that ccc's will probably underperform. we know there are opportunities within that. we look at it on a case-by-case basis. jonathan: we see credit widening and high-yield, you look at the picture that equity investors give you over the last couple months, it seems volatile and rough. if you look at credit alone, you would not see it, would you? >> it looks like a lot of volatility in the six-month chart. you zoom out to three to five years, these are narrow and tightly wound up. all these things are true, and your points on cash alternatives is a great story. i think investors

which portfolio, which part will do better than others?ohamed: the food is operating well, strong, especially with the food delivery business. that's another story. i would say our real estate business is still flying really strong. last year we grew about 28% in the region as i recall. our e-commerce business is something that is very, very interesting. we have got an amazing team looking at it, that is also growing quite fast. even with this growth, one has to be realistic as well. you look at what's going on in this growth, look at what is going on in the middle east, government policies, the world economy, what changes might take place. so we have to be alert at all times. francine: what does that mean? do you expect a lot of the growth in the middle east -- we will look at e-commerce and talk a little bit more about that. do you expect it to go threefold, fivefold in the next three years? mohamed: our real estate business should continue to grow at about 20% a year. that is shareholder expectation. it is hard work to achieve that numb

hani redha, milti-asset portfolio manager, pinebridge investments., 19% of the the population in the world log on to facebook every single day. in terms of tech, you cannot abandon facebook. you have to hope they get it right, and that the rancor goes away. 19% of the world. i am shocked. hani: we like technology as a sector, however we think there are better ideas then looking at these stocks. did as well as he could have done under the circumstances. we will see how today plays out. this issue is not going away. we think the extremes we are reaching in a world where it is winter takes most, it creates -- winner takes most, the risk premium has to be built in. some erosion of profitability has to be built in. it does not look as attractive to us as other parts of technology. nejra: i know you are looking at tech stocks. is facebook's business model that? hani: -- is facebook's business model dead? hani: i don't think so. the likes of microsoft are still operating on every pc in the world. it does not seem like a major threat. nejra: not dead but str

shalett, the morgan stanley had of portfolio strategies -- head of portfolio strategies.standing by with a key policymaker. we are at the world bank imf spring meeting. we have been speaking with people from all over the world. we have the central banks governor of south africa. thank you for joining us. yes indeed. is the question that people ask you about only on this renewed south africa? are you at the turning point for what it means for the central bank? >> there are big questions about what is being talked about, the world economy outlook, and the issues that are coming up, the economic growth has been sustained? it is much more broad-based than we have seen. beingre the risks identified and what do they include? could there be a recovery in the economy? there are issues about the amount of debt that has piled up at the highest levels since world war ii. overall recovery of the economy is underway. francine: this is world growth. the growth is stronger than we think. what happens if we have a trade war? i don't think there is a war taking place. there is definitely

the idea of our portfolio mix is to try to make money as close as possible to all the time.we have done over the years in pursuit of that goal as vanilla convertible hedging became uninteresting was add other ways of generating absolute return to the mix. for example, we -- i came to feel -- and part of it was because of my experience as a lawyer -- that manual activities, trading manual effort for risk, was a good way to add value and also control risk. that is why bankruptcy, distressed securities, became our largest capital deployment, and that is why in recent years equity activism has become a very important capital deployment technique. david: that is an important part of what you do now. what you call equity activism. so there are a couple that are very well-known. let me talk about one that is very famous all over the world. you bought some bonds from argentina. you may remember this. and you held onto them for a long time and pursued them in the courts and so forth and ultimately reached a settlement that was pretty favorable for your investors. was it hard to hold

the idea of our portfolio mixes try to make money as close as possible to all of the time. what we have done over the time in pursuit of the goal, was vanilla convertible hedging, and as it became uninteresting, was added other ways of generating absolute return, for example, we -- part of it was my experience law loyal that -- leah -- yer that trading manual labor for risk was a good way of adding value and controlling risk. distressed securities became one of the largest capital of deployment. that's white recent years, become ativism has very important capital deployment. david: there are a couple that are well known, and me talk about one that is very famous. argentina,bonds from you may have remember this, you have on to them for a long time, pursued it in the courts and reached a settlement that was favorable for your investors. it was it hard to hold on for that long? onl: it was not hard to hold in a portfolio sense, because at no time, until the current government came into office in december 2015, at no time before that did the previous two governments negotiate w

in a balanced portfolio we think makes a lot of sense. to be volatile and that would cause the fed to have to react to it. but you think about what created that in the past. new think about the last decade was oil. oil was moving around extraordinary into levels, 30, 50, how does the fed react. oil gets into the multipliers in the system. oil is incredibly stability today. you don't have an instigator to create mass volatility of inflation. if that's the case, we have a sense of how the fed is going to move and it's not that scary. maria: how do you want to be exposed? you've got to yfer see $2 million in fixed income assets. what are you ideas in fixed income and then touch on equities. >> this is one of the environments that is more normal than in the past you think about now, you can actually create a portfolio. you have real income and you don't have to go out the yield curve. there have been a few trades that worked in the last couple of years. i had to take interest rate exposure because the short end was a dero. i had to take on mo

which portfolio, which part will do better? world isod operating strong.specially with the food delivery business. about 28% ingrew the region. our e-commerce business is something that is interesting. we have an amazing team looking at it, that is also growing fast. even with this growth, one has to be realistic. you look at what's going on in the middle east, government policies, the world economy, what changes might take place. you have to be alert. >> what does that mean? do you expect the growth to look at e-commerce? do you expect it to go threefold. fivefold? mohamed: our real estate business should continue to grow a year. 20% that is shareholder expectation. it is hard work to achieve that number. political and macroeconomic issues in hand. i think we should be around 10% a year in the region. we are talking about the middle there is need for most industries to grow just because i think the middle east still has room to grow. look at the population and demographics in our favor. >> because they are young, these are useful, they spend a lot more in

which move by shire screams lines their portfolio -- reminds their portfolio. -- streamlines their portfoliotracting a bit. -- bid. takeda maybe not enamored that shire is the cancer specialty company, is it? >> correct, oncology is a core area for takeda, whether this is time,r bad, at the same shire's mainstreamed his rare diseases and that is why takeda could want to do this deal beyond growing internationally and getting more exposure into the u.s. the deal for shire has rationale and could happen. vonnie: -- mark: 15 billions of dollars of transactions in the european generics business. >> we have been very busy with the french drugmaker, sanofi, a cleanup of botc portfolio. announcing the sale of their generic unit which has been in the market for some time. let's get the first word news. >> president has taken extraordinary steps, asking a federal judge to block his own justice department from viewing evidence about his private lawyer. filing says the material may involve the president and should be reviewed first by him. prosecutors suwanee government team to look at the material fir

the alerian mlp etf can diversify your equity portfolio and add potential income. bring amlp into the game. before investing, consider the fund's investment objectives, risks, charges, and expenses. read the prospectus carefully at alpsfunds.com/amlp where can investors seek pin an uncertain world? pgim sees alpha in real assets. like agriculture to feed the world. and energy to fuel its growth. real estate such as e-commerce warehouses. and private debt to finance transportation and infrastructure. building blocks of strategies to pursue consistent returns over time from over one hundred fifty billion dollars in real assets. partner with pgim. the global investment management businesses of prudential. >>> hello, everyone, i'm sue herrera, here's your cnbc news update nbc's andrea mitchell call up with nikki haley who told her there are no easy answers in regard to the suspected chemical attack by the syrian government on its people. >> there's no easy answer to syria. we definitely have enough proof, but now we just have to be thoughtful in our reaction we'll see

reduced our portfolio and will continue on that road.hink what is next is to put the money into renewable. we do multiple in terms of renewables with new deals. the more we see of that the more it works and it is reliable, that is where we are going. perspective, it was call for a wild, and now it has gone, what is a bank of america's stance on manufacturing? anne: that start that we want to contribute in any way we can to reduce mass shootings. it is such a tragedy in the united states, that is number one. we have a few manufacturers of military style firearms. . we are in discussions with them we have let them know we are going to bash it is not our intent to underwrite or finance military style firearms. alix: that means you are getting at the lending of companies for weapons? . 100%? anne: yes. liberties andl second amendment, it is a good public dialogue, but that is a ways off. for us we have a handful of manufacturers, they know what our intentions are. -- there are conversations over the last few and it is our intention not to fi

this is where i trade and manage my portfolio.ince i added futures, i have access to the oil markets and gold markets. okay. i'm plugged into equities - trade confirmed - and i have global access 24/7. meaning i can do what i need to do, then i can focus on what i want to do. visit learnfuturestoday.com to see what adding futures can do for you. >>> missed the blitz call of the day, unusual activity or final tradese trades go to cnbc.com/halftime. cfa institute. of emerging markets obsolete? at pgim, we see alpa in the trends, driving specific sectors of out performance. where a rising middle class powers a booming auto industry. a leap into the digital era draws youthful populations to mobile banking and e-commerce. trade and travel surge between emerging markets. everyday our 1,100 investment professionals around the world search out opportunities for alpha. partner with pgim, the global investment management businesses of prudential. think has exposure to energyfund infrastructure mlps? think again. it's time to shake up your l

which portfolio, which part will do better? mohamed: the food operating world is strong. especially with the food delivery business. that's another story. last year we grew about 28% in the region. our e-commerce business is something that is interesting. we have an amazing team looking at it, that is also growing fast. even with this growth, one has to be realistic. you look at what's going on in the middle east, government policies, the world economy, what changes might take place. you have to be alert. francine: what does that mean? do you expect the growth to look at e-commerce? we will talk a little bit more about that. do you expect it to go threefold. fivefold? mohamed: our real estate business should continue to grow at about 20% a year. that is shareholder expectation. it is hard work to achieve that number. political and macroeconomic issues in hand. i think we should be around 10% a year in the region. keep in mind, we are talking about the middle east, there is need for most industries to grow just because i think the middle east still has room to grow. look a

coming up, index ventures has more than two dozen syntax firms in its portfolio.ve the latest investment in the global tech landscape. this is bloomberg. ♪ >> i'm mark crumpton, and you are watching "bloomberg technology." here's a check of first word news. russia's u.n. ambassador says the u.s. has adopted a policy to "unleash a military scenario against syria." one source told the security council that moscow continues to observe what he calls dangerous military preparations. after the council meeting, britain's ambassador denied a russian claim that the u.k. state last week's chemical attack in syria. >> this is grotesque. it is a blatant lie. it is some of the worst fake news from the russia propaganda machines but i would like to take this opportunity to say categorically that britain has no involvement and would never have any involvement in the use of the chemical weapons. >> the kremlin says vladimir putin and the french president have agreed to coordinate actions to avoid further military escalation in syria. france and other u.s. allies are considering m

as well, return as well as nonsocially responsible portfolios >> that's a question we encourage our investors not to ask. what we're trying to encourage our clients to focus on is not short-term performance but long-term behaviors and there's emerging evidence, that's fascinating, showing that socially responsible investors often outperform their peers because they're more disciplined. by introducing something more than just chasing returns, they're less likely to panic when the market goes down. >> what's this boring behavior that you keep talking about? >> disciplined saving, not panicking when markets go down, sticking to your asset mix one of the things that gets investors into trouble is they like to find things that are exciting or fun. they jump into bitcoin when it's at market highs, decide to sell out in 2008 when the market's in a low and the key to being successful is contributing are regularly to your plan, sticking to it over the long-term >> it a question on this socially conscious, blackrock announcing last week that it was going to block some funds from investing in

you want to look at your portfolio and make sure you feel like it is a for the long-term and what weee today, which is volatile markets. haidi: with the u.s., president aid a calling the cohen ria whole new level of the fairness. i mean, it has been hard for investors to be able to see the implications of these daily tweets and developments, in how they manage their portfolios. jim: there is a lot of noise coming out of the u.s. and it is a challenge. you want to try to get through that and look at your underlying portfolio and what is going on in the economy, what is driving company growth and how you can make sure you position your portfolio for the long-term outcomes, and honestly, ignore some of the short-term noise. betty: ok, thank you. state street global advisors executive vice president. more explanation on the headlines. president trump: the fbi raid on wholeongtime attorney a " new level of unfairness." camesaying that the raid after the deputy attorney general approved the referral. this is again special counsel robert mueller he went to the deputy attorney general and si

it will be a fun trade we do need to trade stocks to get there to drive alpha for the portfolios >> if leadership, if big tech, you're right about facebook and leadership rolls over, who is our new leader? is there any other segment you see that looks good, is it maybe energy >> well, that's a great point. we are overweight basic materials, overweight energy, and still overweight tech. but some old tech names look constructive while we'll roll over the f.a.n.g. names, perhaps the microsofts take over and other parts of tech lead again energy, i think, is at a great spot big portfolio managers need a place to go. if they're trimming back the f.a.n.g. stocks, maybe come back and buy energy names, schlumbergers, halliburtons, chevrons, exxons, the charts look good. i'm not sure that's leadership, but it's a place to go over the next several months. perhaps even longer. i would also throw out to you walmart. if you need a place to high, here's a stock that is already reset. lots of potential for that name to hide in >> craig johnson, we'll let you get back to bid. thank you very much. >> a

only in your 40s do i want you to introduce bonds in your portfolio. by this time, you should put enough away. now in the old days it would be heresy the lack of good fixed income alternatives that is why i favor higher yielding stocks than bonds you can and do get your money back as you enter your 60s, it is ea easier to see how you put -- that brings us back to the notion of suitability. if you can't handle the risk, if you think the stock market is not as legitimate an asset class as it once was because it is prone to deep valleys or in retrospect look like threats the bottom line, it is your life not mine so get comfortable with what you can live with, but risk at least until your middle years should remain a friend. stay with cramer >>> here on "mad money" we love to see families investing together often locking in a stock can set you up for life. we are kicking off this edition of mad tweets with cramerican families first we hear from rico z who says get them started young. holds up under much pressure next we have a tweet from david who says sat

that means when things are good, we tend to have more cash in our portfolios and that is where we are right now. it just reflects the fact that we have kept our standards. vonnie: are you finding any little pockets of opportunity right now, because there were a couple downdraft in the market. -- down drafts in the market. matthew: we do see opportunities in areas such as energy, productive for the last year or so. defensive asset exposure, on weakness, we have been a buyer of gold. metrics thatre the you are keeping an eye on when it comes to things like trade talks and geopolitical concerns? matthew: when you look at the trade talk situation, it is part of a bigger picture that is going on that is that trend toward populism in the world. most importantly in the last quarter, we have seen the removal of term limits in china, one of the most important geopolitical to the laments in the last 20 years yet the markets seem complacent about these developments. , we are the gold call below $1400. we have not been able to break through $1400 since the back end of 2013. is this time going to

bruno: portfolios are becoming more balanced. they are facing a challenge from the bearish outlook, with an global yields and equities. rotation inxt of the late cycle dynamic, what portfolios found and what we recommend in this stage is a significant allocation to em space which is more significant than at previous cycles. in asianm equities space. , this is somewhat conceptual. it is necessary in the context of a bearish dollar outlook and a fed that is not that hawkish relative to previous cycles. vonnie: ok. caroline: going into the bloomberg you can see how much -- you see the dollar pushing theer, and at the same time crowded trade we have seen playing out and in terms of emerging markets. the yellow line, down in terms of local debt. that has been falling off. you think that is going to be turning down. cyclical play as well. where do we see a move into equities? u.s. equities a laggard into this move. fairly low risk reward. we prefer em equities. we like japanese equities. storyly from the domestic in japan, which is sup

all customers are paying the costs of the utility supply portfolio when they leave they take it with them. even though it's not listed separately on your bill as a pg&e customer, you are paying those costs. when they leave and join a c.c.a. program, it gets a new name, pcia and it's charged separately. listed separately on the bill. so customers would continue to pay their share existing supply costs and the bond would cover any additional costs above that that might need to be covered. >> doesn't mean the other rate payers are paying for that cost? >> let me try that again. clearly it's not clear. all customers pay the cost, the utilities incurring for supply. some of that supply is contracted out for the future, right. and so if you say i'm going to leave the utility supply and join a c.c.a., the utility with the commission and state law endorsement says you need to take your share of those future costs with you. that is what the pcia is. if you are a customer who decided to stay with the utility, you continue to pay those forward costs but it doesn't show up on your bill separatel

jared kushner is the one who put together these different ceo counsellors and that broad portfolio he has. he also has not completely divested himself from that family business. charley kushner says he refers not to have a political party. do you think that's what he wanted from the beginning? jared you take the job, me, i don't want a pardon? >> i condition get completely inside of his head but it will be probably that wouldn't feel like something positive at the outset. of course i do think he's right such a thing would cause a complete fire storm and almost impossible for him to handle if it was to happen. >> i need my panel to weigh in quickly. clearly this has been bad for kushner businesses. >> the keyword, look, our

is the overall trajectory up, and what does that mean for how i can construct my portfolio?er in 2018 than it was in 2017. reason for that is because we were in a narrow corridor or that says sigrid eyes growth was surprising. that is not the same. we are getting to the point where indicators become more mixed, as we sell at the eurozone pmi's rolling over, and other lead indicators. all italy is likely to go higher, meaning from an equity they will look less attractive than they did last year. it does not specifically change portfolios, it is just something we are watching for that we are moving into more normal markets, volatility should be expected. guy: thank you very much, dani burger. and grace peters, european equities strategis, jp morgan private bank. grace is almost done with us on television. matt and i will join with her on radio coming up shortly. matt: up next, google's advertising business is booming. that helped the parent alphabet boost first quarter sales 24% to billion dollars. on alphabet survive solely online search? we will discuss. this is bloomberg. ♪

i need to speak to neil in missouri neil >> caller: i'm planning to put financial stock into my portfolio, and i was thinking about synchrony financial. >> synchrony's okay. my friend says that that visa chart's really good. and i like visa management trying to get them on air. i would rather you go with visa. let's go to kathleen in utah >> caller: yes, mr. cramer, i would value your opinion on axp. >> holy cow, another one i don't like as much as visa i would prefer visa than american express let's go to ron in texas >> caller: thank you for taking my call. i'm asking about eght. >> i remember this when we started 13 years ago but i'd rather see you in cisco. and that, ladies and gentlemen, is the conclusion of the lightning round! >> the lightning round is sponsored by td ameritrade so all... evening long. ooh, so close. yes, but also all... night through its entirety. come on, all... the time from sunset to sunrise. right. but you can trade... from, from... from darkness to light. ♪ you're not gonna say it are you? >>> as i told you before, it's been very rough owning retail-related r