talk more about the weak economy and strong stock market is william, a market strategist with robert w. bearelcome. good to have you with us. harry potter market, dream market. you heard, do you agree with that? >> to some extent, yeah. some disconnect between the cow skmeen stock market. stock market all-time highs and economy is stuck in first year three years after the recession ended. >> what will it take for the economy and the stockç market track each other better, like more normal, the way it is in normal times? >> i think first, we should step back and realize that the market and the economy can move away from each other for an extended period of time. but given that to get them back kind of on the same page, i think we need policy makers to get out of the way and uncertainty in d.c. start to fade and then those underlying positives in the economy can start to kind of bubble to the top and we can start to get going again. >> so you seem to be saying that the disconnect between the economic fundamentals, between say corporate fundamentals eeshings and stock prices can be persistent f

talking about tesla, shares taking a tumble after robert w. bearedraded the car maker to a neutral from an outperform, this as the company has not only conquered the u.s. market but racing to the top of the charts in norway believe it or not. but is this sell-off an opportunity for you to buy into tesla? let us begin talking numbers. on the technicals, jc, on the fundamentals, john, with first asset investment management. john, let's begin with you. tesla's valuation, about the same as fiat. fiat sells about 100 times more cars. do you like tesla? >> absolutely not. you should lectry cute this stock from your port flol. you look at it it's crazy, trading at 305 times earnings. look on a market cap basis for the number of cars they sell it would work out to roughly 1.1 million versus bmw versus $28,500. valuation is terrible and ridiculo ridiculous. that's an environment where there's no competition. competition is coming. bmw bringing in an electric car next year. that will eat into their mar gyps. i think also you are looking at something that's rea