it is younger portfolio. we'll conclude with the next slide reviewing active risk in our public equity portfolio. there are a few ways to look at active risk. one is to look at the active share. active share is it measure by how much the port folio different from the benchmark. we increased that active share and deviated from bench mark considerably starting from 40% difference to all most 60%, and over the last fiscal year reduced it to about 52%. this is a considerble change in active share deviation. if you look at the next page, page 31, that is another measure of active risk in public equity port folio. it is expected [indiscernible] volatility of our holdings, versus our benchmark. you see similar profile that we consistently increased it and this year are decreasing it. a lot comes from reduction on china overweight and some reduction in technology. lastly, page 32, while we have a lot of active risk, our total risk for public equity portfolio is in line with the projected risk for the benchmark. which

you focus on the 60 part of the portfolio you are a stock investor.'s talk about us couple of your pics and they're all trading at decent evaluations but one that is really interesting what are the larger holdings in your fund is capital one bank which you say is an a.i. play. >> at the back door a.i. play. i remember when computers were a new thing. >> -year-old. >> sam. >> me to. >> investors thought they had to buy the hardware companies to benefit. the real beneficiaries were those that use computers to broaden the mow in their own businesses. capital one sells at book value seven times earnings the leading credit card and auto lender. the business was founded with the idea that they can better utilize technology than the large banks were doing and capital one has continued to have the technology edge. we believe management today as they talk about all of the opportunities for a.i. to reduce cost and help them to better qualify their lenders. if that helps their business it is a bonus of seven times earnings and nobody's pricing it in. jack: it st

>> we look at our balanced global portfolio and the real strength of the portfolio that we had prioronger portfolio that we will have going forward from today. we can balance our risk through the operations and the strength of the operations that we have underpinning our portfolio. we were able to take a decision in mexico this year to ensure that the bargaining agreement that we had signed last year was honored and we were -- we are prepared to take the time necessary to ensure that we have an outcome that protected the long-term value of that operation, but also supported the local communities and the workforce and the provincial and national governments in mexico. we will continue to do that, as sustainable mining later, and the portfolio we have created as of today allows us even greater strength to be able to make decisions for the long-term. haidi: what's a big risk for the next year, is it inflation? the cost of labor? technology? the early transition? >> i think technology and the energy transition is one that will grow over time. there will certainly be work done on that tod

position very well, but when you know how, when there is no argument left, because i... said so, portfolioon women’s portfolios is lower, these figures can be named , there are some figures, here is the average return on a woman’s portfolio and a man’s, right here, well, the difference is somewhere on the order of magnitude 3-5%, if you compare portfolios, in terms of profitability, well, if there is a survivor’s mistake, that is, those men who lost everything, these are the ones who remained, right? yes, who survived, who received some kind of their final investment, received some kind of profitability, i think that if you add up with those who died in the fight, the investments are unequal, then i think that the profitability of women will be significantly higher , well, i wouldn’t say so, because again, women simply invest less due to the fact that they earn about 27% less, if you compare the profession or specialty of men and women , for some reason, this is the trend, tell me, there are some studies that show how much more often men... deviate from the investment strategy than women,

in this plan , real shareholders with a portfolio of less than 10 million tomans could insure their portfolio by purchasing a shareholder symbol worth one rial and up to the maturity date of at least 20% return was guaranteed for them. the klores index experienced a decrease of more than 9 thousand points in trading on tuesday and saturday. on this day, the number of negative symbols was almost three times that of positive symbols. the glass hall also saw the withdrawal of 300 billion tomans of real money. the main representative of the stock market ended tuesday's trading with a negative return of 48 percent and was at the level of 2 million.4675 units with a decrease of 9784 units. the equal weight index also has a negative yield of 4 hundred percent, equivalent to 3,342 units on the number of 7d and 2,287 units of isad. the stock market on this day witnessed hand more than 6 billion.24 million stocks and financial bonds were sold in 2010 with a value of over 4280 billion tomans. the symbols of foulad, shasta , shepna and femelli had the most negative effect on the stock market index, and i

yield, portfolio of assets. >> nice vest. >> thank you for watching "fast money." happy thanksgiving, everybody, out there, enjoy your loved ones, be safe. stay where be safe. stay where you are. "mad money" with jim cramer starts right now. >>> my mission is simple, to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now. hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people make friends. i'm just trying to help you make some money. my job is not just to entertain, but to teach you. so call me at 1-800-743-cnbc newsom. or tweet me @jimcramer. there is a gaping hole in the american education system, although i hesitate to call it a system. when you go to high school, they teach you chemistry. they teach you geometry. history class, english classes, you can graduate from college speaking three languages with a deep understanding of quantum physics or ancient philosophy. >> hallelujah! >> but you know the one thing they almost neve

interesting he went in with andrew _ portfolio.rew mitchell _ portfolio. interesting he went in with andrew mitchell as - portfolio. interesting he went in with andrew mitchell as well. i portfolio. interesting he went in i with andrew mitchell as well. yeah that's right, andrew mitchell will be his deputy. he will have to do lots of stuff in the house of commons that lord cameron because he is lord, will not be able to do and we will see a lot more of andrew mitchell as the parliamentary face of the government's foreign policy. will have to release you to go to bbc radio 5 live, so there is a plug, if you can't get enough henry you can turn on your radio but do stay with us because we would rather you did and henry will be with us throughout the morning. i'm joined by sir alan throughout the morning. i'm joined by siralan duncan, throughout the morning. i'm joined by sir alan duncan, a former conservative mp. morning. good morninu. conservative mp. morning. good morning- how — conservative mp. morning. good morning. how are _ cons

we've spent much of the last decade poo pooing the value of a 60/40 portfolio blend. is it back now? >> the whole idea was that if you ended up with a situation where stocks fell and bonds fell as they did last year, then diversification wasn't your fr friend and you didn't have much of a yield to start with. but that's different now. it's above the rate of inflation. you have a real yield. bond investors are coming into it today with a very different set up and the historic tendency, although not all times, for bonds to be off set to a worsening economy, that could still very much be on the table. so the potential for diversification and better starting yield means that absolutely the 60/40 traditional stock bond mix is very much alive and well today. >> now that's the most contrarian thing. david einhorn said basically he's betting the opposite. >> take the other side of that. there's things don't say static in markets. the starting yields today are much better than they were in the past. and ultimately, if you're starting with a higher yield all else being equal, t

and stock portfolio at once. this will happen gradually but there are resources that can help the development of the provinces, it can have a very good profit for the shareholders of the equity shares of the province . therefore, the supreme council of the stock exchange decided in the first step to organize the equity shares to announce the arrangements of the meetings of the provincial companies. . these arrangements were made with the consensus of all the members of alib council, and that is why it took a long time, that is, almost from the beginning of the formation of the government , we were trying to arrange this executive model in a way that all zinfan and the surrounding areas of justice have a consensus method. let everyone help it is very important to hold the meetings of the provincial companies and it needs all the help of people who are involved in equity shares , that's why we have finally finalized this resolution. the election of the board members and the approval of the board members' qualificat

in general, the portfolio now exceeds 17.5 rubles.ning of the year it has already increased by more than a quarter. lending demand also slowed down. gained a little in a month more than 1%, now the total volume is about 14 trillion rubles. output was affected by decreased demand and increased. requirements for borrowers. at the same time, interest from the corporate sector is growing, despite rising rates. the loan portfolio here increased by more than 2% to 71.5 trillion. about a third of the increase was provided by companies involved in crab production. the uk has reduced its forecast for gdp growth next year by more than one and a half times. as stated by the countries, from 1.8% the plan was reduced to a reduction in gdp, including this is also affected by inflation, which is currently around 5%. the government is trying to reduce it to 2% by 25. due to the disproportionate rise in prices and wages, the british began mass strikes back in december last year, and the january protests of doctors had a particular impact. then about 2

in general, the portfolio now exceeds 17.5 rubles.e beginning of the year it has already increased by more than a quarter. credit consumption also slowed down. over the month it added a little more than 1%. and now the total volume is about 14 rubles. issuance was affected by a decrease in demand and increased requirements for borrowers. at the same time, interest from the corporate sector is growing, despite rising rates, loan portfolio here. about a third of the increase was provided by companies involved in crab production. sberbank plans to invest 90 billion rubles in tourism projects in southern russia and the northern caucasus. in total , 30 programs are in development, while from january to october sber has already invested 17 billion rubles in this sector. we see that tourism is developing mainly in the north caucasus in the krasnodar territory, plus caucasian mineral waters. we are currently working on thirty more projects worth about 90 billion rubles. i think that this industry is one of the most promising and in demand tod

look, there's our portfolio of companies.astructure, deep tech, and enterprise applications. caroline: it is quite an expensive place to be investing now for ai. amazingly, considering the macroeconomy. it is also pretty competitive. what is your edge? in lots of ways we have seen big corporate come in because that they can offer basically the computer power. has that set you apart? michelle: this is of golden age for corporate venture capital particularly within ai with founders looking for access to customers. in the enterprise now there's a lot of excitement. we see about 60% of enterprises that say they want to adopt ai technology then it needed to have the right partners. that is one aspect for us. we also have access to technology. we just announced an ai supercomputer dedicated gp use for him 12 portfolio companies. you see this as well for nvidia and salesforce investments. for us we look to connections, customer access, helping the companies get go to market ready selling to the enterprise. as well as the computer. e

free cash flow yield because this is in our growth portfolio.s only 3% this is much more likely to be a source of funds for us than an ad. >> weiss, you used to own xpo and bought more gxo. >> i made a mistake selling xpo -- >> hold on can you say that again >> i made a mistake selling xpo. >> wait -- >> i bought it -- i made money on it. my concerns on it were the freight environment. obviously the benefit, management is excellent. brad jacobs founded gxo, did a phenomenal job grooming, training, and bringing along these execs in both companies. i added to gxo they reported earlier this week and it was a phenomenal quarter. keep in mind 95% of the network of warehouses has no automation whatsoever gxo is 50% automated they continue to pick up tremendous market share. the pipeline continues to grow they beat this quarter they narrowed the guidance for the next quarter to the upside i think the stock is compelling here i also added to goldman. goldman, i much prefer to schwab the reason being is schwab management is fine i think david solomon is

in my portfolio, those are from the growth portfolio the equity income strategy, there are stocks that have done really well, and now they're down to 4% yield, 3.5% yield you take some of those off the table. that's what this big rally is giving you with 5.5% cash, you don't need to make the trades one for one i just don't think we're in the clear. >> whether or not some of us on the desk believe the consumer is slowing or not, let's look at it from the perspective what do you do about it if it is slowing without question, i believe what we've witnessed so far year to date in the russell is the anticipation of exactly what scott is seeing, i'm seeing, that the economy is going to cool s. it going to go into recession? i don't know the answer to that. you're correct based on the evidence now it looks like it's not there are signs the economy is cooling and i think that's what the russell, over the last six months, has been trading off of. and now you're at a moment where the russell looks like it's reached its trough and the reason that it has reached its trough is because now as the co

we think too big, what you want to do is does your portfolio swing on one stock? that if it's down by five that your portfolio is down too much for your liking? you've got to make it as a personal decision but if you see your portfolio swinging because of one or two stocks, those two stocks are too big. you don't want a single stock to be able to sink you. we have a question next from david. he wants to know why do extended hours exist preopening and post closing when should we use them if at all? this is the wild west, the markets aren't real. the reason they exist is because the government feels they have no right to stop trading at 4:00 because every time we try, other people do this offshore. suffice it to say, take it from me, you won't make money if you do that stuff in the wild west. you'll get ripped off. i've been around and i've been doing this over 40 years. i know what doesn't work. if you want to get hurt switch to the other guy, spongebob and patrick. now we are taking a question from don from pennsylvania. should we be thinking about energy, invest,

i'm doing so much to encourage my portfolio.e. intel is doing incredibly well. it is good but has also had a very big run. i think that's okay. that is the end of the lightning round. >> the lightning round is sponsored by charles schwab. coming up, driverless tech cruising for a bruising. a major self driving player has reached the rumble strips. cramer takes the wheel, next. >>> tomorrow, kick off the day with squawk on the street. >> my haircut? >> freebie, now we get the truth. >> buy one get one. i guarantee it. >> it is a freebie, the logan's burg special. >> it starts at 9:00 a.m. eastern. >> thank you for everything you do, wonderful source of information. >> thank you for all your advice. >> your advice let me quit a job that i hated. i love you to death. >> you are keeping us from losing money. trading at schwab is now powered by ameritrade, unlocking the power of thinkorswim, the award-winning trading platforms. bring your trades into focus on thinkorswim desktop with robust charting and analysis tools, including over

they kept their portfolios for one year from november 4 last year, of which 11,682 people earned a return of less than 20%, so a total of 64 billion rials were deposited into their accounts. last year, the aban stock exchange organization implemented a ten-clause package with the aim of improving the state of the stock market, and one of the clauses of this package was stock portfolio insurance or bonds up to 100 million tomans, which covered 96 real shareholders. in this plan, real shareholders with a portfolio of less than 100 million tomans could purchase the share basket worth one rial symbol. to insure themselves and they were guaranteed a return of at least 20% until maturity. today's capital market indicators were down. at the end of trading on saturday 3rd, about one third of the symbols were in the positive range. automobile and ambohsazi group had the most transactions. greetings to you, the bazaar ended its work on saturday, november 3, 23, with a decrease in number of visitors. the total efficiency index was 488 minus 97 and the volume index was negative 47 percent , decreasin

we will stay long in the portfolio. ♪ hey, doc, quick question. okay?f you had to choose, would you give yourself a root canal or run payroll? run payroll, no question. you know how tough payroll can be, right? no. we switched to gusto, and paying my team couldn't be easier. gusto gives me unlimited payroll runs, next day direct deposits, and automatically files my taxes. ooh, taxes! sounds like you know the drill. good one! can i run payroll too? sure, after this. choose payroll without the pain. that's working with gusto. that first time you take a step back. i made that. with your very own online store. i sold that. and you can manage it all in one place. i built this. and it was easy, with a partner that puts you first. godaddy. >> we need to have a clear regulatory framework because other jurisdictions are kailey: how the markets are should look or the fcc should be in charge of, monikers are pressing to address other prevalent technologies as well like artificial intelligence, less discussed -- let us discuss it with the ceo , ceo, mike. you may s

we, we're constantly readjusting the portfolio. the russell 2000 moved up 5 1/2% in one day. i have three stocks that i currently owned that were up 10% or more roughly yesterday. and so, we were busy readjusting because you have to manage for risk. i think that's the place where a lot of investors go wrong. charles: that should be number one. most people want to know how much they will make. no, first risk, they were the rest. dan, you're great. wish we had more time. next time for sure. thank you. >> you know there is one person on fox business of whom i'm profoundly jealous and that's charles payne. because he is very successful. happy birthday, charles. >> happy birthday, charles. happy, happy birthday. >> i want to wish you a happy about itbirthday you're genuine article. you're passionate about the markets. >> happy birthday. love you charles, hope you get new sneakers for your birthday. >> i'm sure you will. together we sing a happy birthday to you. >> you are such an original, charles, and i am honored to work for you every

well, these boards of directors have a very important position, because currently the portfolio of equity shares in provincial investment companies is 600,000 billion tomans, which is approximately 400,000 billion tomans. there is a basket that is directly in the hands of the people these 600 thousand billion tomans that are owned by the shares of provincial companies can have an annual profit and can be a factor for the growth and development of the provinces . each province has an average of 20 thousand billion tomans of assets. in fact, correct management will help the growth and development of the province and we expect that the board members who are selected for the samzare companies of ali province, besides the minimum that we have in bruce organization to confirm their qualifications, have sufficient ability to manage this to have the amount of investment, naturally, the council the stock exchange does not give the right to sell or transfer the entire portfolio and the stock portfolio, this will happen gradually, but there are resources that can help the development of the province

that's what your portfolio looks like >> so, what i've done is, i have two portfolios, a beta portfolio, which is a long-term passive long assets portfolio. i raised about 30% cash, so, now i'm only about 70% invested. and for my alpha portfolio, market timing multimonth horizon portfolio, i went short assets fairly aggressively. >> what's the next move, do you think? le what gets you off the sideline >> i think you have to recognize this treasury surprise that we talked about on halloween, or the day after, you know, really created a big move in assets s&p up 8%, nasdaq up 10%, ten-year and 30-year bond yields fell 50 basis points, the tlt went up 7% you know, those are huge moves, and what i would say is is that, you know, i make an estimation of what this reduction in supply had, and it's really overshot in a significant way, so, the -- we have limited -- we've had limited data in the last few weeks, there's been fed speak, there's been the presser from powell, and there's been some, you know, data that has been consistent with what we've known for a long time, that the economy is sl

charles: 60/40 portfolio, sounds familiar. [laughter] >> yeah.harles: thanks a lot, my man, i appreciate it. tell you what, we're obviously seeing the hijinks from all the money that has come into the economy and the stock market and all the money that hasn't. later on someone who has seen it all, wall street legend peter brandt, what he is seeing changing and what he is doing with his own money. i want to bring in walser wealth management president rebecca walser. rebecca, houses have had difficulty. they're dealing with inflation. they're spending dollars don't go as far as they did, everyone is bracing for recession. on the other hand net non-financial corporations, net interest expenses as percentage of gdi has actually gone down. this has been a sweet spot for corporations. maybe that means we could see a stock market that does well even as the economy starts to fall apart? >> it is really unusual factors, charles. we definitely have a mixed bag of goods. i know cme market watch basically projecting we have a cut in the next six months. dall

you want to be part of that in your portfolio.uy: is that the best risk-adjusted way to approach the problem? openai is a relatively's all, not-for-profit structure company really having problems. more clarity, more understanding. is it the lower risk play rather than smaller? >> smaller companies are going to have faster growth rate and he went to have faster price appreciation, but if you are taking a longer term view and looking at risk and return, you are trying to maximize your ratio and having a good chunk of your portfolio in this companies is a way to manage that. i have given it so much enthusiasm. i prefer meaningful pullbacks. we had a few of those opportunities and i would keep looking for them because it will happen. it is never a straight line. you will have quarters and maybe even years where things because. maybe investors will switch more to growth geared stocks. those will give you opportunities, but tear point, the bigger ones, because they have other governance structure, they may have or diversified revenue st

how it translates into the economy and portfolios. the markets have almost largely ignored it apart from the path of oil. sherry: there has been a resiliency to the market we want to unpack. for the u.s. markets it has been concentrated in the tax sector. communication services, tech, discretionary. efficiency and cost reduction can be magnified. i think the geopolitical, it is a heartbreaker for people. when people feel distress or they feel emotionally disorganized, everyone knows we are at a moment of change. we are not going back. the question is how do we move forward? from a portfolio standpoint there are definitive passed to do that that can help hedge people against inflation and geopolitical matters. my advice is do not trade the volatility. you want to invest in the fundamentals. if people do that they are going to come to really bad outcomes. francine: when you talk about deglobalization, how much more needs to play out in supply chains? this was started under the trump administration. we do not know if he gets a second ter

with details about how bonds can be an important part of your portfolio.r 30 years, and offers high-quality municipal bonds from across the country. they provide the potential for regular income... are federally tax-free... and have historically low risk. call today to request your free bond guide. 1-800-763-2763. that's 1-800-763-2763. liz: financials doing well today climbing 2.8% after the company announced it is adjusting 2024 earnings-per-share growth from 13 to 17%. analysts were expecting 14% on average so this new area, 17%, stock is up. stock is hovering around 5 year highs on higher-than-expected consumer spending and strong earnings report, 1.4 billion accounts on file and handles 12,000 transactions per second, student loan repayments starting up again, pulling up the stocks, maybe this invisible recession everyone is anticipating. joining us any fox business exclusive, fresh from your shareholder meeting a couple hours ago. >> investor day follow-up in 2,020, go back and give the next 3 years guidance, recap what we committed to and don't know

. buy a bit of one and put it into your portfolio-— buy a bit of one and put it into your portfolio.put £200 or more to buy a single share in a company. but the government wording around this was quite woolly and a bit vague about exactly what it will do that it said it will allow some fractional shares. we really need to know which ones it's going to allow and what criteria it is applied. sara, a final thought about what we didn't hear questions much touted, inheritance tax, changes to that, but it was condemned early on as being tone deaf in a kosovan crisis because it would affectjust being tone deaf in a kosovan crisis because it would affect just 4% being tone deaf in a kosovan crisis because it would affectjust 4% of the states of the top 1% of earners. —— a cost of living crisis it’s the states of the top 1% of earners. -- a cost of living crisis— -- a cost of living crisis it's a tax very _ -- a cost of living crisis it's a tax very few _ -- a cost of living crisis it's a tax very few people - -- a cost of living crisis it's a tax very few people pay - -- a cost of living cri

how much has the portfolio increased? 3%, but in september there were more than four. for now, on to other topics. the government canceled it. a ban on the export of summer diesel fuel , as explained in the ministry of energy, prices for it have already decreased, reserves exceed 3 million tons, this is 14% more than it was on september 21, when a temporary ban was introduced. in order to prevent unloading of oil refineries and ensure high levels of production of popular fuels, commercial motor gasoline and winter grades of diesel fuel, as well as taking into account the stabilization of the price situation... it was adopted decision to terminate the temporary ban on the export of summer diesel fuel. the mortgage portfolio of russian banks will add more than 3.5 rubles this year. for comparison, in the twenty-second the increase was 2 rubles. deputy prime minister marat khusnulin said this in an interview with our tv channel. the share of mortgage loans has increased significantly. this year we are seeing an increase in m

we run a very diversified portfolio across businesses and sectors. we do like software.hile and for a few reasons. first, we look for companies that are robust that have hundred of millions of revenue. that revenue is very recurring and tends to be long-term contracts with highly diversified customer bases and it's usually mission critical and hard to rip out. we like to lend money to sponsors in the software space that have deep degrees of experience, that also have levers to manage cash flow. if there is a downturn they can cut off spending and cut off growth and generate cash flow. >> interesting. how are you planning? the range of outcomes could include rates stay high or go into recession or both. >> what are the return analysis you're running under the different scenarios. >> we always look at downside protection. the new deals are robust on the how they have the down side equity, but if you look back at the older vintage deals, certainly they were underwritten when people didn't expect rate ratrates to rise as much. i also look at the opportunity. there's increasi

fir, the 60/40 portfolio has been decimated but is it going to comeback soon? nicole web, one of the best in the business. how to balance your portfolio right after this. ♪ . earning on my favorite soup. aaaaaah. got it. earning on that éclair. don't touch it, don't touch it yet. let me get the big one. nope. -this one? -nope. -this one? -yes. no. what? the big one. they're all the same size. wait! lemme get 'em all. i'm gonna get 'em all! earn big with chase freedom unlimited. how do you cashback? chase. make more of what's yours. personalized financial advice from ameriprise can do more than help you reach your goals. wow... we can make this work. it can help you reach them with confidence. no wonder more than 9 out of 10 of our clients are likely to recommend us. ameriprise financial. advice worth talking about. ♪ (upbeat music) ♪ ( ♪ ) woah. ( ♪ ) ( ♪ ) ( ♪ ) ( ♪ ) constant contact delivers the marketing tools your small business needs to keep up, excel, and grow. constant contact. helping the small stand tall. you got this. let's go. gobble gobble. i've se

. >> private wealth has done an amazing job running their portfolios this year, and part of them have products where you have a 5.5% money market account, and we have been saying for a while and we are entering a period where you should look at stocks and bonds considering we are coming out of the two-year period status -- >> you seem a little subdued over there. are you all right? tough travel over the thanksgiving weekend. you shouldn't be subdued. how are we going to get better than 10% minimum? >> how we are going to get there is we see earnings just take off, and gdp holds in there better than we thought. from a 5100 number, that's for our 5500 number, but for the 51 number, recession rolls over, and that's in name only, and rates dip below 4% the second half of the year, and we are going to be in a market where you should own growth and value, and the terms of size and style, i like to call it the jackie moon market, own everything, everybody love everybody, meaning, small, medium and large together. own everything. >> we are in -- >> equal weight everything. equal weight everyt

it's really not a strategy that's meant for durable, sustainable portfolio growth and income.ley: when you talk to them about yields coming down, you said 3.5% on the 10 year by the end of next year. where are you assuming the fed will be at that point? right now, the fed is saying we are staying higher for longer. don't expect us to be cutting anytime soon and perhaps not that deeply. >> we don't think that will be a linear movement. it's not like all of a sudden the volatility will stop and it's slowly and surely going to come down to that 3.5% rate. we are very data dependent. we are still waiting on a lot of data. there are many different scenarios that could play out depending on what the fed says today or what the data of the day is. not really sure where that puts us other than in an environment where right now is a really good time to buy bonds. the best time to buy bonds is right before the fed begins cutting. while we cannot be exact on her timing and our amounts, we can say that is a really good time to start building a diversified balance portfolio. guy: the other

i think for a portfolio manager, for a portfolio strategy that wants to retain a dedicated technology exposure, rebalancing within that strategy towards smaller capitalization and cheaper valuations is the way to maintain that exposure and participate to that broadening of the cyclical rebound. ed: thank you. coming up on bloomberg technology, as we hinted at, jack ma speaks to alibaba employees to rally them to " correct course" for the company. caroline: talking outside technology, it's important to think about and in. --mandate. two insurance per humus might be combining, humana and cigna are in talks to combine in a stock and cash deal. cigna currently falls off by more than 5%. cigna worth more than 80 three billion dollars. humana is worth about 60 $2 billion. from new york this is bloomberg technology. when you automate sales tax with avalara, you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh caroline: alibaba founder jack ma speaking out to employees at the company in an internal message urging alibaba to "correct its course start"

but for the rest, the majority of the portfolio management community, they need to be there, and these are the stocks that are going to give them the most significant weighting to try and recapture performance. >> now, jimmy, i mentioned tomortom lee's note on the qs, maybe the most controversial part of his commentary today is because he says cyclicals remain the most levered to easing financial conditions, rates coming down, buy industrials, buy discretionary, xli, xly. i posed the question yesterday, and i'll pose it again, and i think steph's commentary today and her additions to her portfolio are so telling. why make it so difficult over the next six weeks? what are you going to do? buy a name like caterpillar, for example? buy a name like alphabet? are you going to add to names like meta or nvidia, or are you going to buy a deere or a b boeing? >> it's a totally valid question and was in part answered by steph and joe. i think there was something in your question, the way you phrased it, i keyed in on even before you asked it, though, for the next six weeks. so, joe -- >> at leas

with details about how bonds can be an important part of your portfolio. growth solutions for 30 years, and offers high-quality municipal bonds from across the country. they provide the potential for regular income... are federally tax-free... and have historically low risk. call today to request your free bond guide. 1-800-217-3217. that's 1-800-217-3217. >>> all right. welcome back so our "chart of the day," you weren't on yesterday, couldn't ask you about it yesterday obviously on social media people wanted to know your thoughts on what's going on with toast, which you talked about on numerous occasions, and you still own. what's the story here? >> so i'll give you the good and then the bad the good mnews is annual recurring revenue up to $1.2 billion. annual recurring revenue is going to be the way this stock either works or doesn't work so by that metric, we got exactly what we thought we would get. gross volume payment rose up about 34% year over year which is very healthy. that's about 33.7 billion. every restaurant in america that uses toast, almos

it's been getting more aggressive, at least in figuring into portfolios. this was a d as in dog auction. there wasn't one metric up to the ten auction average. real quickly, bid to cover since april of this year, the indirect bidders, weakened since march of this year. the direct bidders was weakest since august. and maybe the biggest comp going back that tells me the most is that dealers took 20.3%, the average is 12%. when dealers take more than the average, it's because investors didn't show up. obviously, you see what's going on there with rates. i'll give you one quick group of statistics. january through november of 2023, so far, this auction represent ed 339 billion seven-years. january through 2019, we were at 352 billion. jan through november of 2013, it was 319 billion, just to give you some numbers. >> again, rick, the fact that the seven-year can move the market this much, what does that tell you? >> it tells me that all the happy talk about the economy and happy talk that we can continue to control our debt isn't as happy. yes, the focus on th

so what ends up happening is now we have a portfolio that's less, the whole portfolio is less by design more by circumstances than that that have evolved over the years. so in terms of the number of students we're serving in terms of the available funding for different programs, in terms of the different focus areas. so i think that idea of having the design we're talking about is having some universal opportunities for kids. so that again, families can have confidence and students can have confidence. if i'm going to enroll in one of our schools, i'm going to get what i need to be ready for the future to graduate college and career ready. but then recognizing that we need to have some alternatives and for our students and that every school is not going to offer exactly the same thing, but they will offer each one will have some different unique experiences that students can pursue. but i think it's that idea of looking at the whole portfolio, the whole system. that is the shift we're making rather than thinking just school by school, what how we each school will develop. thank you for

our portfolio is safe. it's like 4.5%. it's a safe portfolio. yvonne: thank you. we're going to leave you with pictures from the new economy forum. the president has been moderated . plenty more ahead. this is bloombe at pgim we can help you rise to the challenges of today, when active investing and disciplined risk management are needed most. drawing on deep expertise across the world's public and private markets in pursuit of long-term returns... pgim. our investments shape tomorrow today. david: we are back above water on the benchmark. rishaad: tencent is the biggest. this is bloomberg. rishaad: companies like nintendo are hoping to pay see advance for the benchmarks. going to launch with topics. there we go. david: almost similar, you see the equity market and if i could liken this to what some of our guests do. sometimes initial is best. most sectors are on the way up. trees are flat. perfectly fine roundtable. yvonne: the best of the best. we're talking about geopolitical risks. as is just days away from presidents meeting in san francisco. chief economics

portfolio companies got higher interest rates so they have to take that into account.te equity has been investing pretty aggressively in terms of taking companies private. remember, the hallmark of private equity is to sustain these companies through downturns so they can afford if they need to put more equity in a company, refinance in a way that makes sense. they are not looking to exit immediately so they will wait, reconfigure businesses as it makes sense, and exit at the right time. the other question is from an investor's side, there is less recycling going on. less sales, less ipos which means investors are in there longer. sonali: less fundraising. i am wondering how much uncertainty, the israeli at home support, anxiety in the --. leon: there is obviously a lot of anxiety. we all know about the horrific events. from the investors' side, they had a successful conference. the investor base has significant capital to deploy. from their vantage point, especially when you look at tech , valuations have come down. the opportunity to start to deploy capital is pretty

with details about how bonds can be an important part of your portfolio.d in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the country. they provide the potential for regular income... are federally tax-free... and have historically low risk. call today to request your free bond guide. 1-800-376-4376. that's 1-800-376-4376. preps for the formula 1 grand prix one of the biggest winners is the casinos. big shock. melissa brewer with more you combine f1 with a ton of people, and, gee, the casinos will do well >> there are lofty expectations for f1's fourth quarter. caesars said they are on a 5% profit lift in q4. wynn expects record hotel revenue for these three days overall vegas put a $1.3 billion economic impact number on this weekend. but there's a lot of skeptics. room rates have plummeted. the hotel room i booked earlier this year for this weekend was $1,200 a night, now it's $200. ticket for f1 hit the skids. stub hub said they declined by 15%. more than half of them have been sold in just the last

this shows how the liquidity profile has strengthened and makes up less of the portfolio than before.y to deploy as they move on to an offensive investment stance focused on ai. one of the largest holdest, arm, is losing value, down from its peak of $69 a share and today on disappointing earnings is down 6% so that raises some questions as to whether arm can be the new alibaba. as you see here masa son has been able to draw down on its alibaba stake to make new investments and profitability. that stake has been dwindled down and arm has increased its position in the portfolio going from 8% to 24% of the portfolio, but, guys, i mean, alibaba was a once-in-a-lifetime -- you can argue once in a few decades investment, from $20 billion to over $100 billion. very unlikely arm will be as lucrative. >> although a lot of people coming to arm's defense, dee, talking about the guidance more cyclical, and renee haas telling jim the story is a lot more structural than that >> yeah, and that's fine even if arm goes on to become a $100 billion, $200 billion market cap, it's not going to be that ali

are up and my clients portfolios are up s&p 500 mega cap stocks, they are one of them, i say that going forward even nvidia could get her if the economy slows here in the u.s. >> that is one stock i wish i bought a long time ago. it is up 300%, thank you very much, that doesn't for making money, cheryl casone is in for liz claman today. over to you. >> thank you so much i am cheryl casone and i am in for liz claman today. we have some breaking news as we kick off the final hour of trade right now. microsoft shares hitting all-time highs admitted game of musical chairs within the tech giants crucial a.i. partner open a.i. chat gpt ousted ceo sam altman late friday after the board said it no longer had confidence in altman's ability to continue leading the company. open a.i. chief technology officer was briefly appointed interim ceo before they replace quickly by twitch ceo emmett scheer the drama with the shocking twist thanks to microsoft ceo satya nadella announcing sam altman and greg brockman are joining microsoft word advanced a.i. research team, this comes as hundreds of open a.i.

lauren: coming up positioning your portfolio heading into the end of year we're almost there already.rgo tells us what he is sharing with clients. that is at 2:55. for years cash was trash on wall street. now it is one of the hottest investments. my next guest says investors piling into cash have one major blind spot. callie cox is here to explain. ♪. ♪ students... students of any age, from anywhere. students in a new kind of classroom. ♪ using our technology to power different ways of learning. ♪ harnessing ai to plant new beginnings. ♪ so when minds grow, opportunities follow. every day, more dog people are deciding it's time for a fresh approach to pet food. developed with vets. made from real meat and veggies. portioned for your dog. and delivered right to your door. it's smarter, healthier pet food. tin is in our home, our office, our cars, and even our phones. eloro resources game changing discovery at the world class silver-tin property could be one of the largest operations in the world. eloro resources. you can't buy great conversations or moments that matter, but you can inv

rosatom's ten-year order portfolio reached $200 billion.f the company alexey likhachov. we are talking only about the largest projects, there are more than thirty of them. countries, rosatom does not take into account orders for small stations in its portfolio. in terms of revenue, the corporation's overseas revenue alone could reach $14 billion this year. in 4 years, this one has so far... entered the russian market new chinese auto company. sales of its paladin suv will start at the beginning of next year. it will be produced under the oting brand, the manufacturer announced. the car will cost from 3,800 rubles. for the company, russia is the first export market. at the initial stage, it is planned to open 15 salons in moscow and st. petersburg. and they launched it in russia. transfers via sbb to five countries, the news was announced by the central bank. the publication found out that such operations are available from at least two banks, for example, vtb sends money to uzbekistan, tajikistan, kyrgyzstan and belarus with a commission of

what kind of return are you looking for on your investment portfolio?eter: 75% of the peripheral io tends to be fixed income. in this new interest rate environment, the investment income is going up. and then remaining portion will be in some form of alternative investments such as private equity or commercial real estate, and that has done very conservatively, but we really are not going to win on just the investment we balance both very well. david: i should say my own firm does have a relationship with aig. of course, you cannot put too much money in private equity. right? peter: absolutely. they do a great chop -- a great job. david: are all insurers now making money both on investment return and on premium underwriting, is that the core of the business? peter: the industry is making an underwriting profit on its underwriting and on the investment side as well. david: it is often said that lloyd's of london which will insure almost anything. are there things that you will not insure if someone comes to an says, i am worried about my wedding being ra