lawrence gilbert is an instructor at the wharton school at the university of pennsylvania and he is alsocer. and brian halagan is founder and ceo of hub stop, a marketing and sales software company and he is also one of the men who taught us all the marketing lessons to be learned from the grateful dead who, of course, performed at the woodstock festival. so great to see boath of you guys. lawrence, what's so interesting at this is we went in to go do a main street on woodstock but we didn't go in thinking about the woodstock brand. we just wanted to see how small businesses were doing on main street. and then we came out of this realizing, just like with a company, the brand is so strong, right, the main street brand is so strong that it attracts people that like that brand. it's like -- like apple computers would. >> remember that this was the counter culture at the time. short songs were in vogue, there would be 20-minute improve sayses. if the poster was supposed to give you information easy to read, the posters were almost i'll legible in the sock dell lick crying. >> it created a w

you know i taught the advanced management program at the wharton school for a long time and i'm a believer in the market that the market will play a streamlined role. it will become more aggregated. it will be a partner of this but it won't be the primary partner within a collaborative commons. but there are a lot of interests of foot. you mentioned the u.s.. people ask me me why zizo behind this third industrial revolution and the shift to the zero margin shifts society. while the big energy companies and other special interest can help finance the elections. they provide the money to the candidates. in europe we have public financing of elections so while the companies at the in brussels they can't write the legislation because they have to divide with other groups. the region's national governments and ngos etc. so until we have dealt that though this whole question of companies buying electricity in the u.s. the u.s. is going to continue to fall further behind. may come up with new ideas but if you are in an old energy system and an old centralized economy based on a vertically integra

. >> professor jeremy siegel at the wharton school. the mirror just cracked. i'm sorry. you know what they say? morgan brennan, the market's flash desk. >> scott, check it out as we speak. on a reuter report it hired jp morgue ton explore its sale activist, trading up 6 percent prps. back to you. >> morning, thank you so much. >>> coming up, black 3 rock's rick rieder, the moment of truth for the fed. upcoming rate decision derail this rally? another big market guest coming up. >>> best buy shares sinking on earnings. is 2 the time to buy? a bull and bear to duke it out. >>> cutting through the noise or the burger king deal. what you need to know, including warren buffettal rope. that and muff more coming up on the new york stock exchange. but what if you could see more of what you wanted to know? with fidelity's new active trader pro investing platform, the information that's important to you is all in one place, so finding more insight is easier. it's your idea powered by active trader pro. another way fidelity gives you a more powerful investing experience. call our s

and a professor of finance at the wharton business school. on kind of get a bearish rap wall street because you get a 7% decline on the s&p by the end of the year. 1850 isn't necessarily perish. -- bearish. however, what role does the fed plane to that outlook? >> thank you, by the way, for calling me a relative bear, because i have to bear that label. nonetheless, our forecast is basically an tengion up on the fed. -- basically contingent upon the fed. it will lead to a little bit of inflation pressure. probably sparks some move at the fed. after five years of this incredibly accommodative policy rate, that causes some hiccups in the short term. it is not an into the bowl market, not the most bearish call in the world. in the short run, when the fed is shifting policy, and usually causes a cup -- usually causes hiccups for stocks. >> would you agree that it all comes down to the fed? your view of whether the stocks continue to rally or are poised to fall totally hinges on the bias among policymakers at the a form see? -- at the fomc? perhaps

. >> she graduated from the wharton school of business at the university of pennsylvania, but as theghter of the man who wrote "the art of the deal" she acknowledges it's also in her genes. >> what is it about the deal that excites you? >> you know, it's not the money, the dance of negotiation. you have to be very intuitive to read the person that you're working with or against or in partnership or in concert with. >> are there some advantages to being a woman in the boardroom? >> people will be less prepared when meeting with me than they are when meeting with their father. that is to my benefit. >> ivanka says one thing she loves about a project, you see people using it, enjoying what she worked on for years, from planning to financing, to construction. >> real estate is particularly exciting for me, because it's tangible. so many people operate in an ephemeral way, buying and selling assets they don't really own outside of paper. ultimately at the end of the day, if you've executed, it's there and it represents those laboring in a real and tangible way. >> last october ivanka and

you know i taught the advanced management program at the wharton school for a long time and i'm a believern the market that the market will play a streamlined role. it will become more aggregated. it will be a partner of this but it won't be the primary partner within a collaborative commons. but there are a lot of interests of foot. you mentioned the u.s.. people ask me me why zizo behind this third industrial revolution and the shift to the zero margin shifts society. while the big energy companies and other special interest can help finance the elections. they provide the money

you know i taught the advanced management program at the wharton school for a long time and i'm a believer in the market that the market will play a streamlined role. it will become more aggregated. it will be a partner of this but it won't be the primary partner within a collaborative commons. but there are a lot of interests of foot. you mentioned the u.s.. people ask me me why zizo behind this third industrial revolution and the shift to the zero margin shifts society. while the big energy companies and other special interest can help finance the elections. they provide the money to the candidates. in europe we have public financing of elections so while the companies at the in brussels they can't write the legislation because they have to divide with other groups. the region's national governments and ngos etc. so until we have dealt that though this whole question of companies buying electricity in the u.s. the u.s. is going to continue to fall further behind. may come up with new ideas but if you are in an old energy system and an old centralized economy based on a vertically integra

you know i taught the advanced management program at the wharton school for a long time and i'm a believer in the market that the market will play a streamlined role. it will become more aggregated. it will be a partner of this but it won't be the primary partner within a collaborative commons. but there are a lot of interests of foot. you mentioned the u.s.. people ask me me why zizo behind this third industrial revolution and the shift to the zero margin shifts society. while the big energy companies and other special interest can help finance the elections. they provide the money to the candidates. in europe we have public financing of elections so while the companies at the in brussels they can't write the legislation because they have to divide with other groups. the region's national governments and ngos etc. so until we have dealt that though this whole question of companies buying electricity in the u.s. the u.s. is going to continue to fall further behind. may come up with new ideas but if you are in an old energy system and an old centralized economy based on a vertically integra

association in doubt professor of banking at louisiana state university and senior fellow at the wharton school. i welcome our panel. we will begin with the honorable dr.. >> thank you, senator whitehouse and other members of the subcommittee for convening this panel on the matter of enormous importance. i am pleased to be here and reassure some of you i am still alive. it is several months ago after speaking to former epa administrator sitting in front of you, we were convinced by the overwhelming verdict of scientists the earth was warming. and we humans are the only controllable contributors. given those facts, we all signed an op ed piece that america gets serious about reducing our contribution rather than simply sitting back and accepting. if anything, new reports have made that needed to act even more urgent. it is hard to believe there's any question of that. the ipcc report validates to the strongest terms of the science of climate change and projected impacts. the national climate assessment documents impacts occurring in this country right now. and a report from the cna corporation m

our own study going back to right after kyoto never submit for ratification, this comes from the wharton school, from mit is between 3 and $400 billion a year. that would be the largest tax increase in history. we know the chambers come out with the amount of money it will cost in jobs and all that. now, for decades the environmental left has pushed the cap and trade and again, congress has rejected it. we've had it before congress now about 12 times. and it's been rejected every single time and each time by a larger margin. the first one was 2003. that was mccain-lieberman bill and then it was rejected by a larger amount. so it used to be the number one and now it's the number 14 concern. so regardless, the president is pushing this regulatory thing. we don't have to look any further than obama's model to come up with the conclusion. he talks about his green dream being germany. you and i were just there not long ago. i say to senator sessions. and that country is about three years ahead of us in coming through with all of these regulations and continuing its war on fossil fuels like our presi

the end of this year. >> with us now, a cnbc exclusive, professor of finance at wharton, the wharton school at the university of pennsylvania, jeremy siegel. professor siegel, welcome, as always. nice to see you. make the case for dow 18,000. >> thank you. >> by year end. >> it's not a very hard case to make. we're about 7% away. we're selling right now. the market's at 16 1/2 times 2014 earnings. so, 17 1/2 times 2014 earnings, which i state is a very reasonable multiple given the interest rates, will give you dow 18,000. and then you've got a kicker. 2015 earnings are expected to increase by another 6% to 10%, some even think higher. so, any way you look at it, this is not an overpriced market, in my opinion. >> i imagine that would be your response to robert shiller, out again talking about overvaluation in stocks, not saying it's a new thing, but how remarkable it is that based on trailing earnings, the repressed earnings ratio is still so high here. >> well, remember, bob's measure is ten years of trailing earnings, and that includes the financial crisis and great crash, when, you know, write-downs caus

of time going back to read after kyoto was never submitted for ratification confound the cost of it from wharton school at m.i.t., charles rivers associated is between $30,400,000,000,000 a year. that is the largest tax increase in history. chambers cannot with the amount of money it will cost them jobs in all that. for decades, the environmental left has pushed the trade and commerce has rejected. we've had this before congress now about 12 times it has been rejected every single time and each time by a larger margin. the first 2003, the mccain lieberman bill in two years later was rejected even by a larger amount. he used to be the number one and now it's the number 14 can turn and it's a very loud concern. the president is pushing this regulatory thing. we don't have to look any further than a promise model to come up with a collusion. he talks about his dream be in germany. you and i were just there not long ago i say to senator sessions. that country is about three years ahead of us in coming throughout these regulations and had a container that worm fossil feels like president obama has had since

master, one of our favorite professors, jeremy siegel, professor of finance at the university of pennsylvania's wharton schoolg us through trying to understand what's going to happen in the market. we had a crazy or felt like a see saw last week. thursday was particularly tough. friday, okay. but, a lot of people, we've had them on the show, who think we are in correction territory. where are we? >> well, it is absolutely true. it has been a long time since we've had a correction. nobody can tell when it will come. >> are we there? are we in it? are we in the beginning of it? >> no, i mean -- perhaps. but the bull market is definitely not over. remember, we had a fed spasm on wednesday and thursday. remember, when i was on in may of 2013, just after the panic when bernanke mentioned maybe we're going to start the tapering, and i said, if you look at history, the bull market do not end when the fed starts raising interest rates. bull markets will go on for another nine months to two years. and you know, we're talking about raising interest rates, maybe it will be march, or april, instead of june or july. that