Against American Companies is a suckers game because of our innate progress and natural expansion even as the markets day to day gyrations wont always be positive like todays mixed session where the dow gained 32 points. S p declined 0. 07 , and nasdaq just dipped into the red at 0. 02 although it could be heavier tomorrow because disappointing numbers from starbucks and alphabet that may not be offset by what looks to be a strong microsoft performance. For almost his entire investing life, buffett has made the point that you can generate great wealth by owning the best of the best, not flipping them, not flitting in and out, but getting on and staying long. I think hes got an edge on all of us. In addition to having the finest mind for investments of his generation, hes got a team of people who can stay up on his stocks. I always say if you cant stay up on your homework, if you cant research and examine and spend time knowing what you own, if you couldnt give me three bullet points on
Up like alphabet nee google stock did. We also know when a Company Comes out with worse than expected numbers followed by the dreaded words cuts forecast as was the case after hours with amazon, the stock gets clobbered. But how about another category . A whole new one. Its causing stocks to jump today. The category that i want to call not as bad as we thought. The not as bad as we thought thesis helped get the averages from getting too hard today, s p declining 0. 3 percent. Let me give you some prime examples. Number one not as bad as we thoughter. Why, its bristol myers. Not that long ago it was the gold standard, the go to name in the pharmaceutical business because it had the biest growth of all the old line pharma companies. Some called it a biotech stock in disguise because of its massive rerating. The winningest anticancer franchise out there thanked to the break through drug opp tivo. You may have seen the ads for this one, the ones that encourage you to ask your doctor to try
From our studios in new york city, this is charlie rose. Charlie we are in washington, and we begin with politics. According to the new york times, Hillary Clinton has a 72 chance of winning the presidency. The general consensus is that donald trump struggled in the first debate on monday, as clinton put him on the defensive. Nielsen ratings estimate a recordbreaking 84 Million Viewers watched the debate. The focus is now shifting to the second debate in st. Louis on october 9. Trumps advisor is said to prepare him more thoroughly. Joining me as our hearts and abby phillip, we will come to this program for the first time, a National Political reporter for the washington post. Tell me where the narrative has gone since the debate. Al if conventional norms apply, and i remember jeff green phil telling you that they may no longer do, but if they do, trump has had a terrible three days. He has renewed his attacks on Miss Universe, trying to insist he won the debate, hes angry at his adviso
Six weeks remaining until election day. Eight, me is al hunt, for the program. And a National Political reporter for the washington post. Im pleased to have both at this table. Only where the narrative has gone since the debate. Is conventional norms apply, and i remember Jeff Greenfield california but if they do, trump has had a terrible three days. Shes renewed his attacks on Miss Universe, angry at his advisors, and nothing has gone right. Thats the state of like if conventional norms apply. This electorate is not like a speedboat. It is like a battleship. It does not move quickly. I dont think there is a huge change from monday night. I think the two things encouraging to the democrats are that he has so turned off a number of young people. I was at a college in philadelphia. Certainly soldiers. They were unimpressed with her but they were really impressed , with him. Secondly, i think he offended more africanamericans who have been reasonably more passive. He is attacking barack o
Parts of the economy are too good. We no longer need to be frightened that strong earnings mean look out. The Federal Reserve will make that earnings number the last good quarter. What a welcome relief. [ applause ] as march goes out not like a lion or a bear but a bull, the dow gaining 84 points, North Carolina up. 47 . How did this happen given how bad january was . I think we need to listen to the cautious janet yellen, the fed chief with the common touch who doesnt want to bring down the economy or bring down the world. Which is what january did, didnt it . Until she spoke yesterday we had to presume the economy was like a child. When you have too much fun, somebodys going to get hurt. Yellen changed the narrative. She said things are more fragile than they seem. She may feel there is too much fun on main street but there is no party. There is just a lot of people who arent doing well and a few doing very well. Yellen doesnt want to make the have nots worse off because of the socal