deemed uninvestable -- if the uk's deemed uninvestable, do we see the u.k. breakoff in chunks?y issues, but for a world that invested in china in 1976, and made fortunes, nothing is uninvestable. andhave to be very careful be aware of the atmosphere you will be facing, and make decisions on where you belong and so forth. britain is far from uninvestable. george friedman, thank you for being with us. i want to reiterate the breaking news we got moments ago. lyft, according to reuters in the wall street journal, is planning to launch its ipo during the week of march 18. treating out the great unicorn ipo wave of 2019 begins. she adds maybe because we have heard this rumor for quite some time. we will keep tracking that for you, and all things happening at the moment. this is bloomberg. ♪ lisa: let's turn to european banks. cbs has been ordered to pay 5.1 billion dollars after the bank was found guilty of assisting wealthy french clients stash funds in swiss counts. ubs has been dealing with a french probe for more than eight years. our bankingin reporter. how big of a problem is

it is the conflict, so what we looked at in this report is six dimensions of invest ability —— uninvestiblefrom civil rights, human rights, respect for property rights, corporate governance, et cetera. and north korea is the worst performer in all of these indicators. it actually makes it the world's most hostile investment destination. when we look, for example, at second—ranked stone at somalia, it isa second—ranked stone at somalia, it is a country which is war—torn, it is a country which is war—torn, it is an incredibly difficult place to operate in because of security reasons, but leaving that aside, it isa reasons, but leaving that aside, it is a country that is open to foreign investment. indeed, there have been turkish companies, for example, in the somali diaspora, which have been met with some success. 0n the other hand, north korea could potentially emulate the vietnam model. are there any similarities between vietnam, more than 30 or a0 years ago, to what north korea can be? we would be a bit hesitant to make that comparison. there are a number of reasons, the most obvious one i

at the moment, uninvestable.ure we will give up gains if reality happens to be better than we expect it to be. the best thing you can do is grab the popcorn and watch what happens. nejra: you just watching what just -- are you mike: we are not taking big bets at the moment. i hear this a lot that the u.k. is uninvestable. that tells me there is a lot of bad news bit in already. exactly how this plays out is very hard to predict. the likelihood of us leaving with a no deal brexit to me seems like a very low probability. this has been one of the more interesting brexit discussions i have had in a while. thank you guys. us. and pau stay with a lot more coming up. bp's ceo isw with next. this is bloomberg. ♪ nejra: this is "bloomberg surveillance." let's get the bloomberg business flash now. viviana: google parent alphabet slid in late trading. the company reported thinner profit margins and higher spending. fourth-quarter capital expenditure jumped 80%. off of that is heavily reliant on its ad business as it develop

know, the financial crisis was the biggest event of their careers to them financials might look uninvestableenvironment where momentum and growth stocks are outperforming and not value. but we think that you can see an environment of higher volatility this year which is an environment where you don't want to be in momentum stocks we think higher growth stocks, certainly they have risk there as well. so we tend to like stocks that in an environment where we see a rising cost of stocks generating cash, high free cash flow and stocks high quality. which tend to do well when volatility picks un. it isn't the same as low beta stocks, financials, for example, have some of the best earnings while earning stability within the s&p 500 have substantially reduced their leverage so that's one sector we think looks much better than it did going into the last prices. >> and, mona, just before we go, where in the world would it make sense because obviously the rest of the world let us down into this tailspin. where do they leave us >> one thing we've been talking about is the barbell approach to the global

overallocated to stocks, pay attention to fixed income which had been sort of thrown away, as, uninvestabletocks in my 401(k), and i'm worried about the debt bomb exploding, what do i get into if it is not all stocks? into bonds? would bonds bail me out? >> yes you would need a healthy helping of fixed income, particularly treasuries. anything, high quality, u.s. corporate bonds, treasurys would be good offsets. my worry for most investors they are overallocated to equities, not paying attention to the fact they need balance in their portfolios. i see it all the time where people think they can make uninterrupted double-digit gains in stocks, they pay no attention to allocations necessary in bonds. so that is my point, stuart, some day you will need that buffer of fixed income in your portfolio. now that the fed is sort of on hold. it is actually going to probably return to being a good place to have money, for 2019, leading into 20. so i think that is what i'm suggesting that people pay attention to. stuart: jamie, hold on for a second. i want to read the tweet, just came in from president