brendan: wilbur ross early ireland is trying to encourage foreign investment, how do you make these decisions in place that are seeing right now as

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wilbur ross. he joins us for the entire night. we're grateful for it. let's do it. g into the first real, real deal. wilbur, you made your fortune looking way into the future. what do you think is going on with the stock market? it's supposed to be a harbinger of things to come six months from now. the market acts like it will be okay when the dust settles. >> it has a lack of alternatives. no interest rates on short-term paper. everyone is terrified of long-term paper because rates will go up. commodities are nowhere. people have to do something. they put it in stocks or buy paintings. >> hey, listen. big auctions coming up soon. it's been pretty good. here's the thing. okay. no alternatives is one thing. this market shows incredible resolve at the right time despite whatever news is out there. is there something else? something that is telling us the traditional method of the market, kind of saying, hey, once we get through this dip in earnings and whatever adjustments we're making, we'll be okay. >> i think that's exactly what the market is saying. it's weather-re

we'll hear from wilbur ross in just a bit. >>> as we take a break, take a look at u.s.ightest or nothing. the smartest or nothing. the quietest or nothing. the sleekest... ...sexiest ...baddest ...safest, ...tightest, ...quickest, ...harshest... ...or nothing. at mercedes-benz we do things one way or we don't do them at all. the 2015 c-class. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services. you can call me shallow... but, i have a wandering eye. i mean, come on. national gives me the control to choose any car in the aisle i want. i could choose you... or i could choose her if i like her more. and i do. oh, the silent treatment. real mature. so you wanna get out of here? go national. go like a pro. ♪ >>> welcome back to "squawk box" everybody. let's take a look at some of the stocks in the news. gopro was updated to overweight from neutral at piper jaffrey which means the widespread adaption of gopro cameras has helped. also staples was upgraded to a buy from a hold at bb & t. that's based on benefits from the comp

brendan: wilbur ross early ireland is trying to encourage foreign investment, how do you make these decisionsat are seeing right now as beyond the pale? >> week spend a lot of time looking into countries, we invest in banks in those countries. tom: you realize they call their offices the death star? >> millennium falcon. brendan: that is the right answer, you may stay. tom: how do you do it, mr. lockhart? how do you get there so early? >> it is courage but looking at the macro trends. in ireland, it was more and more apparent that the government was going to take their medicine and he took it early. they cut back on their pay. and it worked. brendan: week one of earnings session coming up next. we will talk about how big banks performed. this is bloomberg television and radio, streaming on your tablet, phone, and everywhere else. ♪ tom: markets on the move futures -14. brendan: five days after she announced she was ready for president, hillary clinton was named gary gensler as her financial. phil mattingly joins us from washington d.c. what is the significance of this position within the clin

ross. what was his word for it? absurd? >> i've heard comments from wilbur. i saw him at lunch yesterday.e heard from a large percentage -- the majority of people said this is interesting and maybe this can work. first of all, i wanted to highlight a strategy that can focus on long material. i'm certainly aware we're not going to single out capital gains and change the code for just capital gains. so this should be part of a strategy and debate when there's true tax reform. >> i wish you would put all of your energy into rather than this? if you're going to be on the bully pulpit i think that even at black rock it would be so much better for you if we were more competitive globally and didn't have assets falling out. >> would you get behind the three year capital gains? >> no you have to be talking about not that. corporate tax reform. >> i think it's a part of it. i think that corporate tax reform is essential for competitiveness worldwide. >> why are we writing a letter about that? as an evangelist on that rather than this? >> i'm focussing on what is good for my investors. i'm not here