Netflix soaring. Unbelievable. 52week high. Taking competitors, stealing people away from hbo. Great content. [closing bell rings] david you wonder whether it is getting a little overbought. As the bell rings on wall street, look how the stocks are finishing up. Dow trading up 66 points. Going into the close it was going to the upside. S p 500 also up by a little more percentablewise. Nasdaq the big winner of you will the indices in terms of percentage gain. Russell 2000 hanging in there with half a percentage. Sandra s p closing above 1500. Gold miners not shining like the browder market today underperforming the market. A move lower following a drop in gold prices following better than expected data out of europe of the move lower was led by kinross gold and your favorite, david, iam gold. David i love that name. Despite housing numbers hits fifth highs theyre going higher with the price of houses going lower. Drm, make as three times bullish bet on the real estate sector. Itb was up. Portfolio consists of construction related stocks. Roof, this is real estate small cap etf all of them making new highs. Sandra another big winner in todays session was the chip equipment stocks the sector got a lift following strong results from kla ten core. Kla was the top performer followed by lam research and asml which was up 4 , david. David lets tell you what we have got planned for this afternoon because weve got a busy show. Timothy geithner saying good buy to his job as secretary treasury. Jack lew is the nominee, the person that coo be taking over. Guess what is a lot, a lot more partisan than tim geithner that worked for both republicans and democrats. Steve forbes tells us what that can mean for policy going forward. Sandra Howard Lutnick, ceo of Cantor Fitzgerald, shares his investing ideas for 2013. The Prime Minister of haiti, he talks about the big roll the private sector is playing in the rebuilding of his country and his economy. David before we get started on this hour, we want to tell you what drove the markets with todays data. A sea of green on wall street with all three major indices ending week higher. Dow, s p and nasdaq posting a fourth straight week of gains the dow is the weeks winner, closing up 1. . All 10 s p sectors ending the trading day higher led by Consumer Discretionary and energy. The euro hitting a 11month high versus the dollar after the ecb said banks will pay back loans faster than expected. Euro rising to 1. 34 in intraday trading against the greenback. New home sales as we mentioned before falling last month dropping to an annual rate of 3509,000. That is last months drop did not derail the previous gains. Housing sales posted the best year since 2009, jumping 20 from a year ago, sandy. We have our market panel. Jeff saut, chief investment strategist at raymond james. David steinberg, dls capital managing partner. Lets first start with mark. The take on the rally here. It is good news, bad news. This market seems to want to continue to plow higher. Absolutely. We have some tax clarity. We have some debt ceiling clarity. You give the market clarity, and improving economic numbers and decent earnings season hard for us not to rally higher. You know, were closing over 1500. We closed over 1500 under monday. I think that is really bullish for the next couple of weeks at least through fridays employment numbers. I want to point out something really interesting that is happening. The jcj the correlation index. Little in the weeds here. But what it really measures how stocks are correlating to the s p 500. When stocks are correlating a lot, thats bearish stocks and it makes stock picking very, very difficult because really youre picking stocks, a slave to the overall market. That index is now at precrisis lows. So stock pick something now something we can do. Something we havent been able to do for a long period of time. So what are we seeing this First Quarter . Stocks are moving but the indexes are not. So youre being rewarded for being a good stockpicker and being penalized, apple, for being a bad stockpicker. David mark, hold on a second. I have got to stop you there to talk about apple. I have got two semel questions. One for a person who is not a apple stockholder. Is there a buyin point at apple . Do you see at any of these price levels weve been flirting with today, a buyin level . And second, if you bought apple at 600, do you dump it or do you hold onto it . Im for, lets start with the second question. I would do kind of a quasidump. The implied volatility of apple options is pretty low for how much it is been moving. I would dump the stock and go out and buy a 5, 600 call spread or 500, 700 call spread and hedge my sale because i think apple could see 400 before it sees 500. David okay. Let me get you onto the second question. If i dont own apple, what is the buyin point . Ill tell you. I would, i think 400, that stock starts to look really attractive. That dividend yield looks pretty good. I will be honest and offered. 400, 395 put spread for a buck. Im hoping to get hit. I think that is level i think apple starts to get interesting. Sandra mark sebastian, stay there in the pits. Well see you in just a few minutes when the s p 500 futures close for the week. David you like to hear the action in the background. Good ambient sound. Stay with us, mark. Lets bring in our market panel, jeff saut and david steinberg. Gentlemen, good to see you. Jeff, first of all, earnings season what are you taking away so far from this earnings season . Earnings are getting revised down up until the first week of january. Then they started hooking up, looking for 3. 2 increase in earnings over the quarter. So far as of wednesday, which is latest date data i have, a little over 67 the companies at that report, that is only 100 of the s p 500 companies had beaten expectations. I think you will see earnings come in on the bright side. Sandra david, you think 2013 is going to be the year of the asset allocation. You like equities. Youre favoring equities in the new year. Correct. Sandra is this a time to pick individual stocks or time to play the Broader Market as far as indexes are concerned . You know, about 18 months ago i was on your show and i talked about everything lining up correctly, that investors were underinvested in equities, overinvested in bonds. That, if you look back in 2012 exactly what happened. Modest movement into equities and you got a great return. I think it is the same situation. Investors are grossly underinvested in equities. Globally, and domestically. I think basically what you need to do, what your viewers node to recognize, take a step back and say, do i have enough exposure to equities . There is no return in the bond market for the most part. You have trillions of dollars of cash on the sidelines. Youve got reasonable growth all around the world and reasonable valuations. You need to spread it out. You need to diverse fight it. It will be a transition year. It could be a really big year if it gets any type of momentum and started off really well this year. David jeff, you heard what a lot of traders are saying. There is bound to be some kind of a pullback. There has been a terrific runup since the election and since they finalized those deals inside the beltway. Are we setting ourselves up for some kind of pullback . Those folks with a lot of cash are waiting for one right now . Should they . I do think youre setting yourself up for somewhat after pullback. I dont think it gets downside traction because as mark said, things are improving. You get this political situation behind you, which weve been adamant about. I spend a lot of time living inside the d. C. Beltway and was pretty adamant the fiscal cliff was not armageddon and our government is becoming less dysfunctional. You got get the worries in the rear view mirror and people look what is going well. Housing recovery is real. Auto situation is strong. David let me hold you on housing for a second, jeff. We had a pullback on prices. We had a tremendous runup in 2012 in the price of housing. Were you worried at all on the prices today . Not really because if you drill down into the numbers, beneath the surface numbers are really not all that bad. Im here in Real Estate Central in st. Petersburg, clear water, tampa, the housing recovery is real. Youre seeing spec homes built and theyre trading hands. Sandra get to your individual picks. There are certain stocks you like. You tend to favor the cyclical sectors. Im seeing names like hewlettpackard, intel, mosaic, General Motors to. Tell us about your picks. Those are the last four we put on. Were basically set up with Cyclical Companies that range from things like General Motors, hewlettpackard, intel and technology, technology, equipment, manufacturers, testing. As well as weve got exposure in commodity areas like freeports and coal area. And basically when we begin to see a recovery, if we look past the politicians and what is going on in washington and investors get the sense these people are careerists. In the end they will do what they need to do to keep the economy going and you get a shift of capital in the markets and people spending again and there has been some reserve spending in capex for major corporations they start coming online line you will have all sorts of Cyclical Companies do well across the board. David jeff, lets talk about your picks. Not surprising, rain near, the timber company. Ryn. Rainier. I want to talk about a country, not a company. Watch mexico very closely. As they begin to get things in order they could be for us what china used to be for us. Explain. I think thats right. According to the International Monetary fun per capita wages in china are going from 3100 to 21,000 by 2030. You will see a crassover in the next 18 to 24 months where the median wage in mexico will be below the median wage in china. And i think that mexico is going to be the next china. David how do you buy into it . If you believe in mexico, how do you buy into it right now . One of the ways were playing it through Kansas City Southern the fairway up through mexico and rail beds through the midwest part of the country. My analyst has a good ratings on that. The stock has done pretty well. David Kansas City Southern, take note, folks. There it is. Sandra it looks pretty strong the past year. Thanks so jeff saut and david steinberg. David have a great weekend. Sandra auto sales up 20 in 2012. Things are doing well in florida. More signs that the market is finally recovering. We have someone with close to 2 billion in real estate fund. And he is going to tell us where to find some profits. David today, treasury secretary tim geithner leaving office. What can we expect for the man that president obama nominated to take his place . Outgoing chief of staff, jack lew . The guy is a political operative. How will he be his treasury secretary . Steve forbes is here to weigh in on that. Sandra find out why the Money Market Fund industry is trying to keep you from your own money in times of crisis. Sandra s p 500 futures closing right now ahead of the weekend. Lets head back to mark ses sebastion in the pits of the cme. How are things looking . Looks like we gave away couple points after the bell. Cash is 1500 right now in the s p. Watch those s p levels. The s ps need to break the 1500 level. That is the tradable asset. If that breaks 1500 that could lead into breakout next week and lead to some momentum that is something i will watch mopped and tuesday. Sandra thanks so much, mark. David thanks, mark. Shares of radioshack, havent heard much about that. They are soaring today. Nicole is on the floor of nyse to tell us why. Very interesting. Radioshack is a stock beaten down, out of favor, certainly not the hot stock of wall street. What is interesting today, we had Deutsche Bank coming out saying retailer is quote, pretty significant crossroads. We saw the stock up 15, almost 15 . 14. 25 to be precise. They had a partnership with target. That fizzled. Now theyre launching a another hail mary with a plan to grow the brand in emerging markets and asia. Well see what happens. Of course if you have been to a aid yee shack lately, radioshack lately, it is not about toys or wires it is all about phones. Anybody who has been in the store knows that. Positive comments from Deutsche Bank made radioshack soar. David a lot of funds unfortunately are galaxy. Radioshack, not talked about enough. David seems kind of a sleepy these days. Im glad to see the share price is up. Good to see you. Sandra thanks, nicole. David go ahead. That is your read. Sandra new proposal in washington would make it harder for Money Market Fund customers to get their own cash. Real interesting story. David kind of scary. Imagine your own money being out of reach. Fox businesss peter barnes is looking at details on this. Peter, did i get it right . Yeah, david and sandy, you did. Regulators say the idea to make trillions of dollars of Money Market Fund safer for investors. These fund as you know typically are valued like cash at a dollar a share but during the financial crisis in 2008, one of the big funds, the reserve fund, broke the buck because it had invested in shortterm debt of Lehman Brothers which went bankrupt. Customers panicked. There was a run on Money Market Funds. The Treasury Department had to provide a taxpayer backstop to halt the run. Regulators dont ever want to have to do that again. I dont think taxpayers want to do that either. So they issued some reforms, approved some reforms back in 2010 but they have been battling the industry to do more about this. Now the industry opposes the regulators latest proposal, such as letting asset values float, a little above or below a dollar. Holding back some customer cash for a short weighting period in a financial crunch. Or requiring fund to hold capital like banks. But the industry is countering with a proposal, kind of a pause button, a circuit breaker. Basically to prevent customer runs during a crisis for some fund. For example, they could suspend redemptions for up to 30 days. Or, if a customer really needed the money, they could pay a 1 redemption fee, a liquidity fee over, actually, a immediately apparently. Now the regulators are looking at the industrys proposal but they worry, quote, standby liquidity fees and temporary gates may increase the risk of preemtiff runs by investors who would be motivated to redeem the shares before a fee or gate is triggered. Fund operators as you can imagine are rattled over all this the largest money fund operator, fidelity, says more than 40 of its customers told it they would stop investing if they had to pay a 1 redemption fee. Sandra and david. Sandra wow, interesting story. David and i were reminiscing about the couple of months. David they were scary. It was scary. I pulled money out after Money Market Fund. This could make things worse. Thanks, guys. David treasury secretary geithners last day on the job today. Forbes media, chairman and editorinchief, good man, steve forbes. Some say he would make a good treasury secretary. What we expect from the guy who will be taking over at the treasury, jack lew. This man who has proven to be a lot more partisan than geithner. Sandra it is back to davos where liz sat down with one of the most in demand ceos out there, Howard Lutnick of Cantor Fitzgerald. Find out his investment ideas from davos next ed. Whats next . Hes going to apply testosterone to his underarm. Axiron, the only underarm treatment for low t, can restore testosterone levels back to normal in most men. Axiron is not for use in women or anyone younger than 18. Axiron can transfer to others through direct contact. Women, especially those who are or who may become pregnant, and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. Report these signs and symptoms to your doctor if they occur. Tell your doctor about all medical conditions and medications. Do not use if you have prostate or breast cancer. Serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, feet, or body swelling; enlarged or painful breasts; problems breathing while sleeping; and blood clots in the legs. Common side effects include skin redness or irritation where applied, increased red blood cell count, headache, diarrhea, vomiting, and increase in psa. See your doctor, and for a 30day free trial, go to axiron. Com. David think about it. If you suddenly, tragically lost about 2 3 of your employees could you ever be rebuild and be one of the most in demand ceos at the World Economic forum . Sandra liz claman is in davos, switzerland, with the man who did just that. Liz he is all american ceo who has opened more than 100 businesses worldwide, many of them after 9 11. He is Howard Lutnick, chairman and ceo of cant tore fitzgerald and bgc partners and davos is his stomping ground. 19 years youve been coming. A lot of years. Liz a lot of years. Do you do it for networking, dealmaking, why are you here . First you meet so many people. You can stand still in the middle of the congress center, in and out everybody comes. You say hello to everybody. You talk it them. You can see them outside of the normal in the Office Business environment. I met barry who runs real estate business. He joined my board. I bought his company call from davos. Liz there are deals at least the seeds are sown here . Thats right. It creates personal relationships you know that create the relationships outside to make it work. Liz real estate business genesis of it was here has been huge for you guys. We started with frank. Bought grub and el lis and brought the two together. Very Interest Rates are great for commercial real estate. You can finance it cheaply. Low Interest Rates is ails good for somebody. Not good in the finance business but in the real estate business. Liz not good good for savers but good for that is right part of your business which brought in a lot of revenues. What is the most interesting conversation youve been a part of this time around . I met the tshock i only word is the Prime Minister of ireland. What i thought was really interesting, he was very focused on business. He came here and his whole group is here to say were open for business. Were focused on dis. Youre in france and theyre talking about Bank Compensation and cutting. Theyre very negative towards business. Here was ireland completely, completely here, focused on trying to bring jobs in, to try to get his young people jobe. He was focused on building. I thought that was just refreshing. Liz you bought a business in ireland. Youre doing business there, correct. Correct we bought dole man securities. We will add hundreds of jobs. It is a friendly environment. Great education. Dublin is a great city. They will build themselves out. They have done a great job coming back from the bailout. The way theyre doing it is focusing on jobs, jobs, jobs. Liz youre one of some 20, not many firms who have been granted the ability to do trading on behalf of the Federal Reserve and behalf of the government. If they were to finally tighten rates, would that help your business a bit . I know it might hurt the commercial real estate business but, you know, rates at zero to 1 4 have killed certain segments of business out there. Of course. I mean you have a twoyear note at. 2. What kind of rate is. 2 . That is not Interest Rate. You have a Million Dollar investment and u. S. Treasury and buy coffee. Liz that changed under my sofa seats. What youre going to see when this 7 trillion of this liquidity, quantitative easing, that the federal government has thrown in, sloshing around causing these rates to be so, so, low, it really made u. S. Treasurys a noninvestable good. It is a storage facility. It is not really an investment. What will happen, when they try to take the money out what you will see all analysts of the world will immediately say, money is coming out, even if they take this much out theyre immediately going to point to, you remember in 2007, Interest Rates were over 5 . Liz correct. That will hap that is the scary part. What will happen when they try to start to take it out . Everyone will look to push rates hard that way. When Interest Rates come back up, think of it, the federal government pays interest on guy beganic 16 trillion deficit and turns it around. Liz what is your best bet in 2013 . I still like all the low Interest Rate investments. I think gold stays well. I think art does well. Diamond do well. Liz oh good. Commercial real estate is going to do great. Anything that has a base on low Interest Rates. So commercial real estate is probably a great place where people can invest, make yield and get growth. And succeed in the long term. I really like real estate as a business. You saw that blackstone bought residential right . Because they see the same thing. They will fix them up and rent them out. The idea is up, up, up. Comes real estate pause Interest Rates are so darn low. Liz howard, thank you very much. Howard lutnick, chairman and ceo of Cantor Fitzgerald and bgc partners. Well bring it back to new york where he actually based. David very decent guy. Very decent guy. Thank you, liz claman. Sandra liz also sat down with the Prime Minister of haiti who has a business background. Later this hour find out how he is working with the private sector to change his countrys image and build a stronger economy. David and today is treasury secretary geithners last day on the job. What can we expect from the man who is poised to take his place . Thats jack lew. Are even more partisan times ahead . Find out what Steeves Forbes has to say. Thats next. Dont forget to log on to facebook. Com after the bell. Click the like button. 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Risk includes possible loss of principal. Liz time for a quick speed read of some of the days other headlines. Five stories, one minute. Financial Services Firms are on track to eliminate the most jobs this month since the start of 2009. So far 16,040 jobs had been lost in the past three weeks, just short of the 16,389 cuts made during january 2009. Activists with the polar bear shutdown as set show gas station near the World Economic forum about 25 activists chained to the gas pump stela to protest the oil drilling in the arctic. The eurozone debt problems are not scary all countries away. Lithuanians new Prime Minister says the country and to join the eurozone and introduced a single currency in two years. President obama named Dennis Mcdonough as the new white house chief of staff. One of the president s closest and most trusted advisers for nearly a decade. He bypass the senate bill vacancies from the National Labor relations board. The panels that obama did not have the power to make three appointments last year. David extra cents. All right. Timothy gator eggs is the treasury. A man the president has put to take his place is a lot more partisan. How will this affect our economy . Joining us now, steve forbes, forbes media chairman editor in chief and star of forbes on fox which is tomorrow on fox news and 11 00 a. M. Youre the host. We follow your lead. David i fell yours. This guys partisan background goes back to tip oneill. Of course that was the day when republicans and democrats actually dealt with each other. Timothy geithner is clearly much more nonpartisan, working with republicans and democrats. How will that affect negotiations in congress . What it means is right now there will be no real negotiations. The president s way or the highway, and so the republicans have to do what Ronald Reagan did, first, start to get Public Opinion on your side. Then you go on the real and that you can play. So far the republicans have not done it. The fact that they back down on the debt ceiling debate was a good thing in the sense. Came over. We saw that before. So start to change Public Opinion. Forced the democrats to increase the debt ceiling and start to win over the public. David one other thing that is extraordinary, how . You have a media that allows statements such as the following. This is a statement that was made back in 2011 about the 2000 volt budget. This budget includes a fiveyear non security Discretionary Spending freeze, reducing the deficit and this will bring spending to the lowest level since president eisenhower sat in the oval office. Statements like this are so far removed from the truth. In fact, this president has increased spending to 25 percent of gdp, whereas it was 20 percent of the bush ministration. It was 16 percent under eisenhower. So they say these things and the press does not correct in. Have you went Public Opinion that that . I think that was set on saturday night live, was the . David no. Taken seriously. Well, first, you get a spokesman. The wall street journal said the other day, each house should get a spokesman. A spokesperson. One voice speaking for the leaders instead of having to and people go at once. Another thing have to do is, but positive things. Radical tax reform a different flat tax for having these nonnegotiable ious with Social Security chained to a marketable bonds. You can make it debt payments. How about passing a law saying you cannot use the medicare money for obamacare. Start throwing in offense. Pass these things. That harry reid on dagen blocking a bill. David is comments notwithstanding, the budget is lower than it was during a eisenhower, which is nonsense, we have seen the budget. We saw from 2009 when the budget went way up. But that just stayed there. We can show the figures from two dozen day through 2012 showing that we are now at 25 per gdp level of spending. That is the norm now. This president understands spending is power. That is why his notions of cutting spending when he says it, he feels he has to say it, absolute nonsense. He once more, not less. Republicans should come across not just as accountants, but start getting some of these ridiculous things like feeding heroin to monkeys and programs like that that were going to discuss. David that was a real program that we will be talking about tomorrow. And start to highlight, even though its not big numbers, it gets across the the government is doing crazy things. On the debt ceiling, but the proposal. Revenues of 18 of gdp instead of 25. Put some real things on the table. Let the democrats back. David finally, financial regulation. That clearly is going to be costing a lot of folks out there a lot of money. All the details have not been filled then. He will be the one to fill them in. Its killing small banks, and theyre talking about lending to small and mediumsized businesses. Regulators at banks today are making it clear you have a difficult time making those kinds of loans. Easy to buy government bonds. Theyre taking money from the private sector, financing the government, starting the job creators of our economy. David not very efficient. Tomorrow at 11 00 a. M. On fox news. Overview. Coming up, building a stronger portfolio by adding some real estate. Find out where someone with a multibillion dollars invested in real estate is seeing opportunity. And up next, expected of those. The Prime Minister of haiti tells liz the import rules the private sector is playing in his countrys recovery. I had enough of feeling embarrassed about my skin. [ designer ] enough of just covering up my moderate to severe plaque psoriasis. I decided enough is enough. [ spa lady ] i started enbrel. Its clinically proven to provide clearer skin. 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A bull day on wall street with the s p 500 closing its longest winning streak in more than eight years. Finishing up eight points. The chief operating officer of mobil Payments Company has reportedly had an accusation of sexualharassment. The nine delegations. The journal says the attorney for the alleged victim approached the company about the accusations two weeks ago. And subway issuing an apology over its fly sandwiches after coming under fire last week when australian men posted a picture on is Facebook Page 711inch sub. Declined to comment on the lawsuit filed earlier this week. That is the latest from the Fox Business Network giving you the power to prosper. Liz well, we all remember the earthquake that devastated 83 years ago. Maybe you even donated money to help, but then perhaps you may have regretted that during when you see people still living in tent cities their years later. David things have not seemed to change. As the Prime Minister asks World Leaders for even more. The country of haiti crystallizes the need for global aid but also frustrates anybody out there, any country who has ever wanted to help you read is that about to change . There are new leaders. The Prime Minister is joining us now. What i find interesting, very much about your perspective is that you were a telecom entrepreneur before becoming Prime Minister. Tell me what you hope to bring from year of life into your new one . The spirit that things can change with the private capitol, private investment. This is what he means to men this is what were looking for. Liz tell me how to believe you . We are tricked many years by haitian leaders who were corrupt, took the money that came in aid for the poor people. How will you change the . This government is very probusiness. We come from a business background. We understand that with private capital the government alone is not going to change 80. We need the private businesses to come. We have had several that can already. Heineken just invested in haiti. Things are looking better for the country. Liz what do you offer private business that is out there looking to set up shop in places where they feel there is opportunity . We have the biggest Industrial Park in the caribbean. 250 million investment. Were very happy about that and feel that this is the platform on which to build to bring the country forward. Liz it is time for people to see something other than video out of haiti of ten cities or misery coming from an earthquake that is now three years ago. We remember in the United States so many people open their hearts and theyre wallets, and all they ever see is the negative. Youre talking about an Industrial Park. Some kind of infrastructure . One of the points of real looking for growth, if as you say, we always talk about haitis problems and liabilities , well, there are good things. One of the nicest islands in the caribbean. The Tourism Sector is one where growth can come. We are pushing we are aggressively pushing one of the nicest islands in the caribbean. White, sandy beaches, coconut trees, and we have the largest investors investing in an island right now. We are very excited about the future prospects. Liz what is the one thing you take from your entrepreneurial days were you were a telecom executive to really bring to the country right now . One of the things, to show one is hard work. Second is the private capital is what makes the difference. We cannot depend on handouts forever. We have to take matters into our own hands. Love the country and push as much as possible to get a development going. Now wait for people to assist us are waiting for handouts. We have to be aggressive, focused, and deliver results. Liz Prime Minister of haiti. We wish you good luck. It is a tough challenge, but we wish you luck there. Thank you. What to think the American People for helping us when we needed it the most. We are working very hard to change things in haiti. Liz thats good to hear. Extending a hand back during the disaster, but we appreciate it. I will send it back to you in new york. David thank you. Sales of new homes fell last month. Overall 2012 was a great year. We saw price gain of about 20 . Coming up next, find out where the best realestate investments will be in 2013 . Plus, why apple might want to look to zoos to boost sales. You dont want to miss this. [ male announcer ] how do you make 70,000 trades a second. Reach one customer at a time . Or help doctors turn billions of bytes of shared information. Into a fifth anniversary of remission . Whatever your business challenge, dell has the technology and services to help you solve it. New home sales unexpectedly falling last month. Newhome sales posted its first annual gain since 2005. David someone with real estate plays. Resource realistic goal portfolio management. Have to take issue. At least we have to question whether not this downward trend will continue. He says there will be more falls to come in price and it could go quite a bit lower from where it is now. There could be more. Think what he was trying to say is not lets get too far ahead of ourselves in terms of being on the cusp of a boom in house press. David most of the mortgages are being supported by the government and that is sort of there is an irrationality about that, and artificiality that is troublesome. We would not disagree with that, we think housing has bottomed. You have a look at the fact that new home sales were up 20 yearonyear. Down in december. Levels are back to pre crisis. Home prices for existing homes are up 12 . All that being said, we are completely on board with the idea that home prices are going to be very slow and gradual recovery. This draft, fell over 7 percent, that is not going to throw this recovery of . Its a glitch, but it reminds us of those low prices. Where do you put your money if youre willing to bet that this is the bottom . Well, commercial realestate better than singlefamily for a couple of reasons. As the low interestrate support without a lot of the headaches and other issues of the artificially supported market that we see in the singlefamily housing. A couple of places, the apartment rates. We think it will benefit from a slow recovery in housing. More and more people will rent. That is good for a partner rentals. David outside of the United States. An australian accent. Are there good place to be looking at . A few opportunities internationally. Unfortunately that market is done quite well. You want to find the best opportunities you have to go to europe. David countries in particular. Western europe, markets like france, germany, the u. K. Problems away. But when you go david a beaten down market like portugal. You dont even need to go that far. Youre looking at valuations, 30 , 2030 discounts in terms of how the stocks apprised verses premiums year in the u. S. You can get some very good Quality Companies that have the western european exposure with on leases. You dont actually have to go to find a bargain. Your talking to us in the u. S. A couple of billion in the realestate market. What about the average investor . Would you recommend that they get involved in this place . Groups like resource realestate and can get in for a few thousand dollars. David good to see you. Thank you very much. Have a good weekend. Apple tapping into a new market, a brand new market that you may not have heard of for their ipads. Find out what that is right after the break. announcer scottrade knows our clients trade and invest their own way. With scottrades smart text, i can quickly understand my charts, and spend more time trading. Their quick trade bar lets my account follow me online so i can react in realtime. 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