Emotional about. And that they are only interested in the store read. They dont care who wins and loses. Im talking about people who cover teams not National Stuff. I write about people. Just remember one thing the people come and together. The cast of characters in professional life and the cast and characters change in collegiate life. But they are bond by one thing, the games, the games have kept me motivated. Rose financial bloggers and the life of a Sports Writer when we continue. Rose additional funding provided by and by bloomberg, a provider of multimedia news and information worldwide. Captioning sponsored by Rose Communications from our studios in new york city, this is charlie rose. Rose digital journalism is changing the way we consume news, information, social media has given life to innocent analysis and punditry. That landscape has an impact in our daily lives including investment divisions. Talking about the new terrain is josh brown. Hes with rithoitz assess management. Joe wes thought at bloomberg news. Felix salmon is the financial writer for reuters and megan murphy is at fast ft. She will become Washington Bureau chief for the Financial Times in january. Im pleased to have all of them here. Let me begin. Tell me what is it exactly you do. Give me a sense of your day. Well literally started at bloomberg a week ago. I have no idea what my day is. W, reporting on the news in real time. Bringing to bring financial journalism both to the speed of the internet and also take advantage of the news out lets we have of social media getting that Financial News through the proper channels. Rose with Global Markets the way they are, what would you get up and read. I would get up at 4 00 in the morning when i first started in thei business, there was the eo zone crises and all the financial crises going on. There was so much to catch up on. If i had gotten to the office at a normal hour i would have fell impossibly behind. Basically since i started my first read in the morning was twitter. And following Financial Experts all around the world, waking up saying what did i miss and usually people would tell me what happened when i was sleeping this market and this and the acb did this. That would be my first snapshot of the day. Rose megan. Well actually very similar. As i said im switching jobs to washington but i would get up at 4 30 in the morning. We launched about two years ago a 24 hour market breaking news service at the f2. Which was a huge change financially. A new way to break news but what were trying to do is respond to what we could seereader welsewhe werent breaking news in real time. Because there were so many other outlets out there that were doing it. What we didnt want to happen is for people to go elsewhere to get newspapers we felt would deliver fast. But its definitely rose yon the more than. Always twitter. No question. Always twitter because you can see exactly whats happened over night, whether its in japan, whether its in asia. Obviously in europe as well. One important thing for twitter for editors you can see what stories are breaking through and people are continuing to talk b lots of events happen but not everything continue to get talked about throughout the rest of the day the those are usually topic that you want to be on top of and twitters great for that. Youre not concerned about velocity as much as they are, are you. No. Im slow velocity. I like to take a couple minutes to think about things before saying something. And im also concerned about keeping people on my website. Im very happy to start linking to megan or anyone if they have the good stuff and i dont have any need to replicate that stuff. And just be smart and aggregate and plan to tell the stories in a way that can be more broadly understood rather than just aiming stuff at various traders who want to be able to move quickly and care about markets and dont care about anything else. Rose just talking about style. Do you, everybody says, have a perfect kind of style for a blog . Well, i really, you know, i really like creating2consuming d content thats very well suited to social media these days. I think one of the, the cool thing about media these days is there are a range of story forms. You can have the long article, the medium article. My favorite thing is a chart and a sentence and hopefully that tells the entire story. I think this Financial Market a lot, thats all you need. I really like looking at everything thats going on. Heres the story at the moment. Japanese gdp, one cepttance and i moved on. Liking and ag gating people pptd different thoughts but i like the high speed high velocity stuff. Rose what are the hottest subjects today. Japan. Rose this particular day its japan. Yes. Absolutely. Whether or not which is probably the worlds most fascinating experiment in Monetary Policy right now takes off. It looks, you know, today was not a great day for economics and well see what happens going forward. Its a great issue. I think oil is obviously going to be a huge issue. I think u. S. Energy. Rose josh, what are you looking at that interests you . And how are you treating it and talking about it. To me the most interesting thing that happens always but now especially are these dichotomies between what the newspapers is and how the markets interpret it. And i think thats kind of what my specialty is, try to figure out. People are doing this even though the news is that and what is everyone missing. Its not that i always have the answer but thats the question that i find the most fascinating and that might be the most profitable question anyonekq wod ask. The example of japan your point is very well taken. It is fascinating and yet japanese stocks printed seven year high on friday we find out the countrys in recession. The reaction is down 3 . The yen is down one andahalf. Rose is thous with that economy as well. Not where its expected to be but the mush is awe heed of where the economy is. I think what a market is, right, its a discounting mechanism. It should be somewhat ahead. And maybe during this recovery its gotten way ahead. But you talk about a dichotomy most of the participants in the market especially the people who move it by virtue of how much money they have, for them the recovery is unbelievable and for people with no financial assets, theres been a hugeas difference between their perception of the recovery and that obviously leads to endless fodder for columnists, for bloggers. Theres just a lot of anger towards this market right now. Market makes new highs. What about wages and inflation. Theres an angry group of investors, traders they hate the whole thing, they think everythings a bubble blown by the fed. Its by this dichotomy and i think successful investing putting aside ones own biases, they hate everything and just actually trying to figure out what moves the market up and down. And also from my perspective, i really dont care about markets that much actually. I think these guys care about markets much more than i do. I think one of the reasons, this is one of the reasons why there are markets that are important. The fed can from time to time loads of money and sthoks can go up and bonds go up and rich people become richer and they become happier but it doesnt affect the economy or normal people or real people very much. And i think the way that much of the news media keeps on coming backs to markets is civilly. Its just a barometer how rich people. Rose is the rest office really the story. Yes. The midterm elections were in a sense the only poll the most accurate out of anyone predicting who would win because they gave Market Segments to certain wins and certain races. Whether its 1 , theres no question the market is a pan leg indicator whats going to happen recently in geo political events whether its ukrainexd or russi. I think there is a real world effect from people on the market. They just dont know it or cant necessarily see it or maybe its a little bit too obtruse the way its manifested. But when you see stocks outperforming the and ones doing the best are the ones where theyre buying back shares as opposed to hiring people. Thats a negative incentive to hire people. And you see that kind of thing propagate itself and it ends up in the real world like the way that thats transmitted is less people get jobs as a result. So i think its there. Its just not necessarily black and white all the time. I also think regarding what felix was saying, specifically the u. S. Stock market is a reflection of rich people but oil markets are markets and that huge geo political ramifications in saudi arabia and the u. S. And russia. If you look at the broader rank of markets besides just u. S. Equities, there are a lot of examples you can point to where whats happening in market have some sort of the news city is obsessed with the one day news cycle. And what happens to the oil price in one day or what happens to the stock market over the course of one day. And that story is 100 noise. Theres absolutely nothing in that story that has any kind of relevance in 99 of the population. Yes, oil prices and other prices match it. But what were looking at levels which ultimately dont change that much whether its up or down a lot then theres a story there. Most market commentary and most market journalism is about what is way too small. Day coverage i see it as more like being the narrator or being the commenter of the sports game. Any given basket in a basketball game doesnt matter too much. But youre narrating that game and putting it into a bigger story. Rose i dont want to make this as big as a revolution but how are financial blogs changing the market. Its absolutely, its changed radically. Then one year too you look at the time is so compressedcbeco immediate and good information and quick information and nuance for people who sat on the market. Just never had this kind of, people say itsm3ipa a golden af journalism. Its ama gold age of content. Just get raw data feed. The access and people being allowed to filter to what they want. And they dont have to go to certain places, they can go everywhere and have a smorgasbord. Rose whats your ambition. To tell whats going on in the economy but try to do it in a more visual way and digital way and more interactive way than simply writing down words. Im trying to come up with ways reinventing storytelling. Rose whats the compensation for that. The compensation for that if you get to communicate much more directly with a generation who frankly doesnt have the Attention Span to read large long text pieces. An excellent example of what im trying to do, i just want to make it a little bit more interactive. Rose you also see a whole range of people have been at this table have left the New York Times, have left the washington post. To lead big institutions. Youre staying at a big institution. Why did you stay rather than go out on your own . What was the choice for you. Did you have a choice . Look, i believe very passionately in the ft as a brand and it means and what it can deliver. And i believe that being part of institutional change at that organization is exciting. We are trying to adapt. Theres many people who say weve done a better job than some people in adapting to a Digital First media strategy, we have a very successful pay wall and keepl6 adding subscriptions. I think there is real appetite for change there and people want to be still the preeminent provider of the world market and Financial News. Now it is a massive challenge. Its a massive challenge every day. Some days it feels like pushing up hill every day in terms of what were trying to do in scale of the change in front of you. You still have legacy newspaper issues you have to do with in terms of advertising decline, in terms of filling space. We cant be as nimble as smaller digital organizations. But we still have jillian and people that people want to come and get their opinion every day. I want to be a part of changing that organization to remaining that way for the next decade. It may be a pipe dream. The organization stays the same. Rose so the mandate at ft is to make it more to present content in a different way, in a more interactive way. To give much wider, much more relevant condensed in some ways, be able to still present the same sort of, you know, thought leading decisionmaking journalism that we have. Rose did you get into a thing with martin wolf. I did get into a little thing with martin wolf. Lw i03k4,h[economic commentators ie world. Rose on television. And hes been on television. When he writes his book, youve read his columns. They are not always the columns to read. When he writes a book, his books are not always the easiest books to read and that was basically what my night was with martin was that im a big believer that journalism is only good insofar as people understandhp it and i want to be able to express myself as clearly as possible in as many different ways as possible. Without making it stupid, absolutely, without being false. Whereas martin i felt especially in his book was making no confessions to making it easy to read or easy to understand. Rose what is your mandate at bloomberg . Well bloomberg is this Incredible Organization that has resources that basically just overwhelmed everyone else. But traditionally bloomberg had not focused on the web. Its the core of the business is the bloomberg terminal, which is amazing information mortal. Thats only available basically to Financial Professionals. But theres so much amazing data, theres so much amazing reporting thats being done within the Bloomberg Organization and theres even a fraction of that can get to the web in a way that makes sense. Its not that its not going to theib web but its not, the strategy here hasnt been pan focused towards really making it sing on the internet. Rose how do you do that . I think its a range of thing. Part of it is actually just having people who will be web first. Part of it is figuring out how to take the reporting and repackage it in some way thats great for the web that probably needs to be much more visual than it is. Lotsgr more charts. Maybe changing thef things. Pulling out certain chunks. Taking all the data. I mean theres this big obsession in journalism right now about data driven journalism. I think that comes from you know desire to like see the evidence, show the work basically. Well bloomberg has more data than anyone in the terminal so just extracting that data and showing it people is a huge opportunity. And this show in particular we can say getting rid of the black background. Step number one. Rose you dont like my background. Its a great view charlie. On rose everybody says to me in fact about the web they like almost a clear background is the best possible thing. Is that right . Yes. Rose why is that . Because you want to concentrate attention on the thing that you want to concentrate attention on and you dont want distractions. This is why you have nothing going on behind that. Rose because you focus on who you are and what youre saying. We want a pink background. Rose does it make a difference that you are an investor as well as a pundit as well as a blogger. I think it does. So its funny because most of the people that i read are journalists. And im friendly with a lot of journalists and i think what they do is indispensable but its proven theres room thousand for someone who is not a journalist but who reads all of the journalism and forms a eclly strong opinion which is important and which isnt and almost acts more as a curator. I dont do reporting. I have an Investment Management job but what i do is i consume a lot of this stuff in the market as well. And at the end of the day when i sit down and i think hey it turns out everyone was focused on this but it really didnt matter that much. Or, this should have gotten more attention and i like the point to the journalist who uncovered it or to the journalists who swarmed on something and i want to say to my readers this is something valuable to consume. That said not only do journalists do journalism and one of the biggest scoops in recent sets. Rose and how to you get it. And how do you get it. Rose youre not giving up sources are you. Im in the Investment Business and i have to live in the business and you know. The scoop was that last year, they made 520 million. Rose probably both of them each made 520 would have been my impression. Had we known everything we need to know about why they split . We probably know more than ill tell thats interesting. He has a quote where he says whoever is winning now will look to be invincible. So thats a great example of a firm with the most assets under management on the planet. And even when thing are as good as they can be is youre never invincible in this industry and we learn that every year. Whats wrong there . Too much money, too much, too many big personalities and then too high of an expectation on the part of the investor community. No one ever got fired allocating to pill co it became automatic but nobodys results are automatic if theyre an investor. They move in streaks. Is best performer could be the worst next year. When that realization comes out and then internally an organization is forced to deal with it, thing get ugly. People point to each other which is human, nobodys above that in the whole world. I do think that going back just a little bit, the presence of people like josh and barry and other Financial Professionals is one of the huge aspects of this whole media revolution that deserves to get a lot of attention. On twitter i follow people who are professional traders, professional investors who in the past would never be just freely sharing their insight but are actually doing so all daycos basically to become important sources on stories. And thats phenomenal. I really enjoy it. I love the fact that i can just hear directly from people all day and see their reactions to news but it is a major sort of the job fact interestingly which no one picks up on4dhrt t the time. Has three investment managers, hedge fund managers, to be much more open about their views on the internet and on twitter. And this is fantastic because journalists really dont know anything. All we do is phone people up and try to find out what the people who do know things know. Now we did me ate mediate the journalists. Rose whats the good from the great. Waking up at 4 00 in the morning, 4 30 starts. The amount of tomb to be really good because we said all during this discussion you need to read so much, you need to talk to so many people and theres so much information out there you really need to whittle it down. Its people every day. Absolutely hard work is first and foremost. Rose hard work will helppl to be able to Say Something smart, that is smart in content as well as expressed well. I think this is kind of corollary to hard work but its enthusiasm. I agree with that. Really like wanting to sell it. That is not just doing well, isnt just about filing your ps and then being done for the day. But genuinely being really excited about this stuff you care about. I think ive done really well by taking say obscure topics and things that people didnt pay much attention to and enthusiastically making the case to the public that these are stories that really merit your attention. Theres no one who can explain liquidity with more enthusiasm. I have even more obscure enthusiasm when youre talking about clauses. This is what caused it to default a few months ago. They had this clause in there, a contract that was read in a certain way, kind of a stupid way by a judge in mork and as w york and as a result of that the rose are they winning that battle. Hes won the battle but is losing the war still. Rose i know what you mean. Enthusiasm certainly. And i think just absolutely wanting to take on these obscure topics andreaders and flag treno one else is seeing which i think is the hardest. The obscurity part. So if your job is every day to create contentinteresting, the t because you already have 500 people writing about what the job numbers was that morning. Right. I mean itsialready been done o definite but then i think theres another category probably something more akin to what im doing where you say well, maybe theres room for a really strong opinion thats in the by all this news. But i dont have the perch of Bloomberg View or the opaat fin. I really want people to read what i have to say so a lot of that is personality driven. Like how can you get people to care about what you think if you dont have the imprimteur of the New York Times or washington post. That to me is the challenge. But you asked what separates te good from the great. Getting people interested in what you have to say is a really really big challenge. Rose and the velocity youre getting. The double edged swore is sword and you are living over the top guilty. Rose did you notify. Theres no notification of a heart broken realization at midnight. No, i think theres a line between how promotional you are. And if youre like tweeting the heck out of your own links and people land on the major and say well i didnt get anything out of that for the third time. You can find yourself becoming irrelevant pretty quickly. A great platform for curators at least as far as im concerned, i dont like to be self promoted. I want someone else to point t0c josh. If someone else points to josh then i have reason to believe this is something worth reading. If josh points to josh then i have no idea whether its world reading or not. Rose how many at Business Insider would you write per day would you say. Well its lower over time rose became more of an editor. And we rebuilt our news room. When i started Business Insider there were basically five people in the news room. Five people in the news room and the world was collapsing every day. So there was nobody to write lots of stuff going on so im sure i had days when i wrote over 20 pieces probably hundreds ofby the end i basically stopped writing because i mostly have been doing evidence tinge. But yes, i mean theres kind of a range. Rose is this one going away . Its funny you bring that up to me because i tried to ban it from fast ft for a period just becausetopic. Today in this very building im having a debate with barry who is the great bits pro propot and hes saying yes its world and im saying rose what about like mark. He has invested in too big bitcoin companies. One of them is coins basic which is an interesting company. One is just a bit, all hes doing is mining bit coins. This is the most pointless thing you can possibly do. It might make money but its not going to change the world. Rose let me read josh ten things we believe on wall street. I like this list. Falling gas and meeting prices is a bad thing. Yes. When i say we i mean the royal we but we really believe that. Stock market will fall sometimes when Oil Inventories are high or prices drop. When in reality half the country lives check to check. Literally 47 percent pr of the country makes less than 50,000 and 20 of their income goes to energy costs. How we can burden of proof that a falling gasoline price as negative is totally beyond any stretch of the imagine race to me. And yet we do. Rose number two. Late off the great news, the more the better. Thats a myth. Thats when they mention a huge amount of layoffs people will sale theyre getting serious. Weve now reached the point where labor and capital are opposed. They used to be for many decades in the post war boon area they used to be linked to each other. The employees do better than the corporations did and now its become much more of a zero sum game. Rose thats personifiedby. And henry ford would double the wages. Rose billionaires from greenwich connecticut can understand the kmarts and sears. So you have a guy worth 15 million and rarely leases enclave of the Upper East Side or greenwich and takes a huge stake in a discount retailer, Dollar Stores or whatever. Its not that they cant make money by doing that but when they start to run them in thcase of sears and k mutter, a total disconnect, jcpenney for an correct. Hyper inflation in the hamptons. The numbers are wrong. Rose a company is plagued by the fact it holds over 100 billion in cash. This is apples huge problem about 300 point per share ago where apple has too much cash and it will force them not to innovate or its like this thing thats plaguing and weighing on the stock. What are they going to do with 150 billion in cash. Theyll never figure out the right way to invest es. The stocks sold eight times are earning versus 16 times. So half the valuation ofpo other stocks because of their cash. Rose some companies earn a specific profit to the penny every quarter but others should dare even think about profit. Yes much thats amazon. Rose yes, amazon. Its actually really bad news. Rose because theyre not investing it. Right. Theyll say oh they lost their edge. Whereas another company, if, you guys see if another Company Misses earnings by a penny that wasnt even the number. Ever going to make a quarterly profit. I hope not. Rose then its going to drop. Sell. I dont think they will so dont worry about it. You know its interesting a friend of mine who is an investor and has something similar to twitter was neverv. M÷ able to raise a lot of money and somebody finally told him, somebody in the Angel Community told him why. ] the problem is you earn money and when you earn money we can actually sign a valuation to that. We can say ten times for this. If you earn nothing its a mystery and people can dream big. So its the worst thing you can do at an early stain. Rose wars, weather fashion trends and elections can be reliably predicted. Thats the whole senator levesque complex that people can build on. Rose five to ten percent, thats insane. They own commercial real estate. You know the value is fluctuate bug theres no app on their phone that says your building lost a Million Dollars in value today. So they treat that differently but their market investments, you know, every five or ten percent. What the market does is take probability distributions and reduces them to a single point. And it is impossible to know the value of a company like apple or Goldman Sachs to within half a percent either way. But thats what you wind up doing when you look at the stock prices. Oh, it went up a percent or down a percent. All that is is pure noise. Its in the distribution of roughly more or less where we think it should be. No one looks at a stock like that al they show they should. In the last four weeks apple added billion of dollars to its market cap which is equivalent to the market value of home depot which is a company that 12k8 0 billion a year. Rose because of the sales of iphone six. Its the probability distribution. 2g its somewhere around ther. Apple didnt change that. Its sentiments surrounding apple and so people take that to the next step and they say oh the value of the business. Rose was it the fact that people said oh my god we didnt think apple had any products, wince steve was gone theres no products coming down the pipeline then you had the watch these are new things and where we can rest apple is in good hands. What youre doing charlie is your expost putting a narrative on the job. Youre searching around for reasons why the stock about a month andahalf ago the market tumbled and kind of tanked. And ebola and isis. Then everyone is like some people came up with all these stories right away like ebola was effecting the market. Ebola hasnt gone away but you just dont hear any connection with ebola. You do this a lot with geo politics and its kind of a running joker that markets down or markets higher on size of ukraine. Market is down. It doesnt matter. Rose you talk to a trader who said i sold you basically work backwards. The word amid was made. Rose persons who leads the company is worth 400 Times American the average more than the average . Works there. Versus the average employee in the company in the United States and thats an extreme that i think it was 10 to one in the 60s and 70s. Thats an extreme that only seems to go in one direction, and it just doesnt, to me i cant find a way where that makes sense but there are no laws against it and all the competitionm3ipa consultants coe from the same schools, work in the same companies and ostensibly everyone competing for the same ceo. The ceo is never the most single valuable employee in the country. Rose who is the most valuable person in the company . New product development. Every company is different but i am very suspicious of any company where the ceo rose another Company Selling l 40,000 cars a year is worth 30 billion because its growing farther. Gm versus rose right. Actually this is the ultimate question of what kind of investor you are. Gm is selling at a depressed valuation, they have negative headlines in the news almost every day but theyre telling 10 million cars a year thats provide steady. Rose is that a huge market share. Huge market share the. They have a huge market share in china. They beat china almost a decade. Rose thats because of buick. Either way theyre there and doing very well each month they break out that number finishing this year with 40,000 cars sold but thats growing at more than 100 a year. People are willing to say thats worth almost as much as gm inlka Public Market 30 billion versus 50. Thats a really big difficult thing for investors to get their minds around. I still havent. Rose i remember when the market cap of ge was 10 billion. Was it . Yes. It was a bank and they couldnt roll over their net. Rose 50 of their revenue was financially tied. Any kois well over its definite is interrupt. So you have to be worried. That is kind of hopeful in one sense. Getting back to why gm is in the headlines every day for negative news is dogged journalism over the years of people exposing issues of recall etcetera. And that is the story that actually designates so much with people about saying how did this happen at this company, how did this go unnoticed. How is ittq either covered up or not enough. And i like where we can have those. I think people still believe in long term journalism, its a really compelling story they will sit there and read those 1500 words. But you have to really get those opportunities, seize them and write them. Rose people are doing that. Some of them are fantastic. Some are pictures of cat and janet yellen. And i think that im glad we have both. Im glad i get to quiz her about the super hero. Theres some content that takes advantage of the access. And some is basketball of journalism and i dont think no one has it quite right yet and well see. Rose how do you decide on the investments you make. I dont make investments. The only way to do it, no ones that smart unless you do it full time. Totally blind. Rose we know youve got a company. Yes. Its funny because like felix says the only hope you ever have is if you do it full time. I cover markets full time but thats still not the same time of actually covering full time. You have restrictions too. I think the manual was a tweet. You have to follow the account. Rose thank you all, great fun to have you all. Rose bob ryan is here, he is one of americas most esteemed sports wiert over four decades for the boston globe. During 198 0s he captured that was led by larry bird. He writes much moreth scribe, my life in sports. Im pleased to have him here at this table. Welcome. Thank you charlie. Rose you say in a sense covering sports is first and foremost about the game and never forget its about the game. Thats really not the thought process of many n of my colleags and contemporaries. They will give you an elaborate disclaimer that of detachment that theyre not emotional about this and theyre only interested in the store read. They dont care who wins and loses. Im talking about people who actually cover teens not people who do National Stuff to which i say i just read about people. Just remember one thing people come and go. The cast of characters changes in professional life, the cast of characters changes in collegiate life but theyre all bonded by one thing. The competition, the actual games. I happen to like the games and thats whats motivated to keep me interested or induced all these years. Rose they say that certainly critics and people who write Theatre Reviews and film reviews and all kind of critical reviews that those who have done it best, those who have loved the game. I would think so. I cant imagine being, did not love movies, did not love the theatres. Rose yes. Well, not to flatter myself but i wrote basketball game stories with the eye of a critic to try to explain to someone who was not there what he or she missed. And whether it was a good and valuable experience or just another night in this case just. Rose you also say that i strongly suspect my last words will be yes. Thats a probably possibility. Im still enthralled by f the a of the competition and the games and thats what i think attracted to me back from toddler hood. Rose you said a Sports Writer is a two part word and my entire life has been devoted to both aspects sports and writer. The sports knowledge was inbread. My father was heavily involved in sports in trenton, new jersey and i think i have a genetic predisposition. But that doesnt account for the writing part. The righting mar was imbedded in me and so much so when he would take me to High School Basketball game forty evening i couldnt wait until saturday morning to read about the game and not valued in my seven year old mind was not validated and i cant explain it. Rose it was said you are the quinton sent annual writer. I think it comes back to the enthusiasm thing and just a breadth of interest. For example in the olympics when i started out that was not something i was thinking about him. Scottie, the great New York Times editor, reporter and columnist once said sports writing was a great way to start. You can say1b finish as well. But he thought people who wrote about sports gained something in the writing game that will serve them well for the rest of their live. All i can say is we have more inherent freedom to write. A lot of times ill pan read a Political Columnist and highest complement i can pay that person is you write like as a Sports Writer you have a freedom of writing. We dont have to worry as much about being, whatever passes for pc at the time. We dont have to worry about that so much, we dont have to worry about a lot of things about that and we have a more inherent freedom of writing. Im just guessing now because im well aware he said that thats what he was thinking about. Rose were you good at ports. One sport i could play into prep school and that was basketball. I played it through and i got that far and then i went out fon fromman basketball at bostonf college and was cut. But i made the first cut. Rose pax ball basketball is stale the favorite. Baseball is my favorite. As i state very clear i think its quote, im quoting myself, how shameless the greatest game ever to spring from the mind of mortal man i think is baseball. Rose why do you say. I think it has the most intriguing and interesting possibility. For example what other game so reward an inept act such as a little dribbler down the baseline. Truly doesnt reward ar actor, a fly ball to the outer reaches of the ballpark that doesnt go out of the ballpark. There are so many circumstances in baseball. Theres more conversational fodder in baseball than base basketball football and hawksy put together. Rose you can think about, analyze and see the choices tht are made. Thats true. Just the subtle changes, the difference between two outs and the basis loaded in a threetwo count and nobody out in the bases loaded in a three two count which is enormous in you know baseball. Rose what i always wanted to do and ive done it before in a inning or two is sit next to a great manager who happened the luxury of paying attention to me. And have him talk about the game and watch the game in motion. What are the choices here, what are the people thinking about here, what are the options here, you know. It gave us a sense which is the more you know about in my experience the more you know about anything the more interesting it becomes. And the more you want to know. Were at an age where information is value and wasnt available to those of us growing up 3040 years ago. I think theres a saturation point where you go no mas because every commentator has to talk incessant lever after every pitch. Rose theres those who love College Basketball and dont like the nba. Thats not you. Thats not me but i say this to those who like College Basketball and dont love the nba. College basketball ive been involved with since i was six is the best hamburger but nba is the best steak and theres the difference. A quality difference. Heres what i say about the nba. Every single season without fail in the nba there are a minimum of a hundred games, maybe 150 games. It doesnt have to be the top teams. But there are 150 games that are played that if that game had been placed in a College Arena with the band and the cheerleaders and the tradition behind the two respective schools people would walk out of the arena and say thats the greatest game and that happened 150 times a year in the nba. Rose whats the greatest game you ever saw in your life. The greatest game for me was, covering of this was the 1976 the celtics and phoenix triple overtime game, game five of the finals which had all kinds of enormous drama and interesting little subplots in which totally unexpected because youre supposed to walk all over phoenix in the whole series and they couldnt get rid of them and the epitome was game five and richey powers in the middle of it all. Rose what does larry bird represent for you. He represents the apex of my basketball education enthusiasm. He came along in 1979. I had been covering the nba for ten years and i love basketball. I thought i covered the best player i was ever going to cover in john havecheck. Now in 1979 here come birds and its likened to having sienldz up for an art course and in walks the new teacher, michaelangelo. He forced me in my mind to rise to his level. I honestly think some of the best writing if not the best writing pure writing i ever did was writing about bird. Rose what is it about bird . Its a combination of well he embodied everything i like about the game the patting the shooting the thinking, the rebounding. He connected with the fans in a way that was just special will to win, determination. All those intangible things and then getting to know him and see him blossom as a human being and break out oozes an intellectual chain. Rose how about the patriots. They are once again a threat to win. Theyre a threat to get to the super bowl. We had them halfway six feet under, we had them about four feet under after the fourth game of the year when they were two and two. And brady stepped up. The offensive line. Brady now can throw the ball with some comfort and they still have the smartest kid in the class coaching them, mr. Belichick. Rose why is he the smartest. He just is. He has the complete command what it is to coach. He has morethan anybody. I truly believe that. He has the broadest knowledge about every nuance and every position and hes just, he just sees things i think that not everybody sees. Rose pure student of the game. Herp is. Hes a prodigy. He went down at ages 11 and 12 and started breaking down film. Theres no question hes a high superior intaw collect. He could be whatever, yeo, general manager i dont know. His enthusiasm for football is boundless. He may have the best private collection of football books in the world. Anything that comes, he gets it. He knows more about paul brown than his son mike brown does, i can promise you that right now. Rose who is better . I hate to do this to you but its in my blood. Lebron or michael . In the final analysis michael. Thee both reached the peak of their profession in different times in history but michaels ruthlessness and competitively the idea of cutting your heart out and serve it back to you with a nice glass of key up tee is michael. Thats not lebron. Lebron is inherently sweet tempered human being hes a nicer guy in that regard. He doesnt have that element of ruthlessness. The person who comes closest to michael combining the skill is kolby bryant. The way michael was raised and lebron was raised he was a celebrity at age 14 whereas we never hard of michael. Rose he hardly made theqv team. He didnt. We didnt know about him until he started in North Carolina as a freshman because he had no profile outside the state. Michael marginnity, michael did not learn how to win until he learned how to share and lebron didnt until he was able to accept the responsibility of being the best player on the court and acting accordingly. Rose did you know john wooden. I met john wooden on a couple occasions and my friend took me to his apartment in 1999 when he was 89 and among the things we did and i think i have the cassette tape charlie is he rattled up the starting line up of the High School Baseball game he coached in indiana in the early 30s. All tongue twisting polish names and this is the batting order. It was a very enthralling two hours. Rose he had an extraordinary amount of poetry. Excellent biography. Rose he would sit here at the table and i got bill russell to kim in at the same time who didnt play for him obviously but the rhetoric russell had for him was unbelievable. Thats great. He played against him at some point out there in the west coast. It was a remarkable story. Do you know what he was making when he got to ucla which was by the way 40 years ago this year. 32,000. And didnt care. Rose of all the players that youve seen as baseball, who happened the most skill. First as hitters. Im A Willie Mays guy. Thats my era and thats my team. He was my god. Well you talk about the five tools, right. y hitting for average, hitting for power, running, throwing and defense, okay. Classic five tool guy. A great fielder. They didnt want, he would have stolen, in todays game or the subsequent years he would have stolen 50, 60 bases. They didnt run but he could steal a base. He had 660 home runs. He obviously played that would have made him a star, not just an efficient player. He had a star power to him. Im partial to him, but ken griefy, jr. Was the wonderful player. Rose do you like golf and tennis. I like golf very much and tennis. I didnt have a chance to cover much. We had the greatest american Tennis Writer ever and so there was no need for any superfluous coverage from any ryan fellow as long asgolf i enjoyed very muchi mentioned in here actually my favorite sport to cover because of the logistics. Its the last sport i dare say television cannot mess you by making us play at night. Strictly a personalized writer point of view i grant you. Rose you prefer baseball during the day. I prefer baseball during the day. Rose this book is called scribe, my life in sports, been there, done it and he knows the games he covers. Thank you for having me. Rose thank you for joining us. For more of this program and early episodes visit us online at pbd. Org and charlierose. Com. Captioning sponsored by Rose Communications captioned by Media Access Group at wgbh access. Wgbh. Org what if i told you that you could change your life in just 10 days . The 10day detox is the fast track plan that will help you not only shed pounds, but put an end to Chronic Health problems. I want to teach you how to remove all that cleverly concocted junk thats sabotaging your metabolism and brain chemistry. I want to help you lose weight and i want to help you get healthy once and for all. Just give me 10 days and your life will never be the same. [cheers and applause] dr. Mark hyman is a family physician, bestselling author and internationally recognized le