honorable friend accept that on this 100th anniversary of the first world war, the territorial army won 71 v.c.'s and thousands of other derek rations in that war and learning from the lessons from our english-speaking cousinses in martin and the pivotal role the national guard has played in iraq and afghanistan, that is the way to ensure we can afford the equipment we need for our armed forces for the future? >> let me pay tribute for my friend who has campaigned very hard for the average and the forces. the point he makes is a good one. you can see today a territorial army working alongside the regular army, fighting with them and being deck rated with them. other countries have shown it is possible to have a larger reserve force and that is the way to have a well equipped army, navy and air force in the future. >> mr. speaker, the convention says a standard for the protection of children against sexual exploitation. the u.k. have signed it but have not yet ratified it. following recent episodes in the u.k., will the government now consider ratifying this very important convention? >> what i

we've got the best of v.c.>> let's say i'm an individual investor and not getting the service i might like because i'm not big enough. >> this would be a great place for you to go. people just starting out, people trading on their own and done with it or for a piece of their money they want to put it with us. >> so part of it, they might want to actively manage, but part of it they might want to give to you. and you are able even on a day like today, a bad day like today, you can adjust it to whatever the risk, the risk profile? >> our portfolio's globally diversified. so even on a day like today where the dow is down significantly, that's only 25% of a diversified portfolio. and we remind people that it's for the long-term. and over the long-term, things tend to go up over the very long-term. and so the short-term movements don't matter so much. >> okay. now, how much does it matter the interface? because people tell me -- and i looked at the interface. the interface is pretty cool. but should that -- is that

so the benefit perhaps accruing to those v.c. investors as opposed to public company investors.een an interesting trend lately, i'm sure you've seen it. which is a lot of hedge funds are starting a bit of v.c. >> yeah. >> some formally than others. he's usually more aggressive. they've been doing this for quite some time. >> yep. >> but we're see typically public investors take part in either by starting new funds or having side car vehicles in -- >> because they were basically bidding it up to the ipo price and the hedge funds needed a way to get into it. and tiger global was obviously the leader in doing all these things. and the other one -- >> of course, on sand hill road. chase coleman from tiger, another one been aggressive. >> people kind of fighting for growth and bidding up the prices, and getting to the public markets and being too expensive, or being, you know, or all the earnings being taken out of -- >> maybe it would benefit more if they came public early. you'd have a lot of public company investors excited about the incredible growth rates and bid them up there.

therefore the gains are much less so you you want them to come earlier is what he's saying of course he's a v.c. so he actually has. he has an interest in this but nonetheless i mean it is about point nonetheless i think on the opposite side of the i agree with the if you have retail investors will invest in these companies do they really know what they're investing in right especially if it's a loss making company and do they really have the to say this company is going to make it versus other company that's not going to make it i think you gave two cases right there is no leader in their space they're actually the number two companies and that's a space that you see microsoft you see google you see get into do they have the wherewithal to be able to make it good going forward and. you know it's. it's not looking great twenty when you're going up against those companies that's for sure and they're just bigger it's not. can't do it just not in their favor now just because these companies are making a profit doesn't mean that they aren't making large gains in revenue now as then desk for example

we now use today for a slightly different alteration of those same six banks was actually coined by v.c. forbes who ultimately ran for magazine and coined that term in that crash period but what happened on the day on thursday after over twenty four. it was that tom lamont who was the acting chairman of the morgan bank still the morgan bank because jack morgan was was was away overseas saw what was going on the markets saw their interest particularly new u.s. steel and other companies getting slaughtered and called five bankers together to his offices on twenty three wall street which is where the morgan bank resided to decide what to do to save the markets and the decision was almost like what had happened in one thousand seven except that each banker chose to put up twenty five million dollars from their institution and that included charles mitchell from the national city bank now we've taken over from james stillman over over the years our wiggin who was running the chase bank at the time and a few other people that you know mention in the book that decided they would save the marke