fabulous advertising company putting out citywide and small cash rewards thanks to the charles schwab bank - and asked asked i want to be clear about one thing we know what we're asking people to do is tough in a city like san francisco it's hard you think about making ends meet finding $five aweek can seem like an insurmountable task we recognize that, what we learned over 15 plus years savers show us what seems ims poable can be achieved last year through online saving program savers said aside $500 a month. an average making $25,000 a year they can save to weather financial emergency but take advantage of the financial opportunity just this week we reached a milestone for us and reached 50,000 people across america just last month. [applause]. so i'm proud to introduce a successful saver not only how she became a saver but how she was able to do so well soen thank you. [applause]. >> hello everyone. how are you? my name is azeri i live in patrol hill in public housing i'm proud to say that. i started working for bridge housing about almost seven years ago. i was not saving, so i had no

bank. i like schwab in particular. >> let me go back to the banks for a second everybody thinks, mark is clearlyetting that the tax plan will pass that stocks will continue to go up ten year is at 236 >> yellen said it doesn't matter anymore. >> that's when it will start to kick in. >> for josh's trade in the brokers. that's what will be popping. >> what banks off, the ten-year. you have to look at that part of the curve. >>> power lunch starts now >>> here's what's on the power lunch menu d.c. scrambling to get out the big tax plan what's in? what is out? what it means for your money we're all over it. and it has been a stellar year for investors. the s&p 500 soaring 20% in 2017. and we are getting big bull calls for 2018 jpmorgan among them. they think the s&p 500 will hit 3,000 by the end of next year. where to put your money to work. bitcoin has been a monster this year too t is it th

schwab, at how much the two stocks run since june. it's like an embarrassment of riches for the whole banking sector and it's funny. i think we've been uniformly bullish on the desk all year this crew. we had dick bovey and shame us you don't understand how the banks work, you're wrong, blah, blah, blah these stocks have gone vertical. it almost didn't matter how much understood about banks. >> maybe he bcc'd you on that. >> doesn't matter. >> sounded awfully familiar. it's not a criticism of him or a bank expert. it's this idea that understand trend and understand that the "e" is not always the important thing. the "p" in more importantly than that the rate they are willing to play, there's growth there and the multiple expanded way faster doesn't count, not fair, not based on fundamentals. what do you want mow to do, give the money back >> i heard you make a comment, pete, when you said which of these stocks if not all of them would continue to work in the new year out of boeing, cat, apple and visa, you said not all. >> not all, and i think steph was going in the same direction as me but i love boempingt i love

banks. i own some of them i want to focus on the broker dealers and the asset managers and schwab emplifies what it means to have trillions of dollars generating almost nothing and then all of a sudden that picture changes that is one that i think has a lot of upside, maybe not the most but like a safe price you can own. >> what about you, rich? he goes higher on all the global banks and he keeps tha sate street the same and keeps the earning estimates unchanged there. the story is clear in the eyes of mike mayo and where he sees this picture going. >> this is an industry group that you don't need tax reform to have the benefit. you will get tax reform benefit and overweight stocks and concerned about rising rates and you can be overweight banks. that whole sector we're overweight including the brokerages and regulatory relief is occurring reduce stress tests. i think the benefits are born out in the next two years. >> what do you do with the insurance stocks here? >> we don't have any >> we own burke and looking into the reinsurers because the cycle will much improve going forward. >> exac

trade/ameritrade/schwab war we've seen ongoing >> we're still early on in the building of this thing the hard part is getting money from the exchange to the exchange we've looked at banks, the traditional banks haven't wanted to participate in crypto space that's partly reputational, that's partly protecting their own turf >> we've been in a bull market for basically everything right now, stocks, crypto. can bitcoin go higher if stocks crash? if we see a major correction in stocks >> i think so. if you think about total market cap, bitcoin is still two-thirds of apple, it's not enough that you're going to see the wealth effect if bitcoin was a $2 billion market cap, there would be a lot of correlation, we're losing money in stocks, but you have a different investor base. the crypto investor base, you're starting to get more crossover people the cristo base, they're not looking at the s&p they really aren't they're looking at all their different coins. i think it's still a pretty uncorrelated asset >> mike, obviously cryptocurrencies are want disruptive i don't know the answer, i don't mean to be glib. if it's as disruptive as we think it is, what industries are being d

from deutsche bank i want your take on this, the deutsche bank analyst is telling clients that cash levels at retail clients, at ameritrade, schwabot good. no wiggle room. dagen: not to dismiss the individual investor but the individual investor is usually a very -- sometimes a good indicator what you shouldn't do with your portfolio. dagen: if you see an opportunity are you going to sell it or by? you don't have wiggle room to use that cash. everybody is fully invested. >> take the example of the tech sector. we heard earlier this is an opportunity to get more involved so if you don't have the cash you can't do it. maria: oprah winfrey cashing in after discovery buys a majority stake in her cable network. the deal on that straightahead. vending machines go high-tech. we have one in the studio. how the new machine equipped with artificial intelligence could compete with amazon go. ♪ why do you do it? it's not just a pay check, you actually like what you do. even love it. and today, you can do things you never could before. ♪ ♪ you're developing ai applications on the cloud. finding insights hidden in decades of medical documents.