Stocks selling off today after two Straight Days of gains. The dow is off the lows of the session, but we can see there it is down by 154 points. So by triple digits with this volatility translating into a good year for active managers. According to funds track, 52 of large cap managers and 73 of value managers are beating their benchmarks in the Second Quarter. Joining us now, bill nichols, head of u. S. Equity trading at cantor fitzgerald. It really hasnt been the greatest environment for active managers until now. Right, robert . Yeah absolutely mandy. I think thats putting it mildly. Right . For the last six years since the bottoming out of the s p in 2009 active management has gotten trounced. I think thats indicative of the environments. Everything across the board was cheap at that point so trying to pick a handful of stocks or 40 or 50 stocks was really a losing proposition. But today when you look at fair valuations across the board, i think now is the time over the next three
To fire all of our Great American workers that got you there in the first place, you can move from michigan to tennessee and to North Carolina and South Carolina, you can move from South Carolina back to michigan, you can do anywhere, youve got a lot of states at play, a lot of competition, so its not like, oh, gee, im taking the competition. Youve got a lot of places you can move. And i dont care as long as its within the United States. The borders of United States. There will be a major border tax on these companies that are leaving and getting away with murder. And if our politicians had what it takes they would have done this years ago and you would have millions more workers right now in the United States that are 96 million really wanting a job and they want get. You know that story. The real number. Thats the real number. So thats the way it is. Okay, go ahead. A question about the Supreme Court and the border security, but i also want to ask you about something you said on twit
Were going to see fits and starts trying to get through 20,000 when we eventually do we will pull back and try to make another assault and see if that holds, judge. I think the same pattern that weve seen playing out until now is going to continue to play out. And that is, buying dips, any significant dip, even fridays dip. If you buy the dip you get a chance to take profits quickly. The vix is still below 12 but they have been buying a ton of vix calls. Upside calls, in february though, at about this whats going to happen on friday, guys, but about where is the vix today . 1170. 1170 well call it. Lets call it 12. In february as you say, this is trade that weve just sort of gotten our eyes on. Investor have purchased 250,000 vix call options with the strike price of 21. Yep. So theyre looking at a double on the vix. They bout another 150,000 of those on friday last week. That it dont need it to double. As the vix was coming down. Right. But you get the point were trying to make. Its b
Outreach department inside the white house. I think its an Intergovernmental Agency outreach, scott, where we will be talking to state and local governments. Its a business outreach, businesses large and small. Trade associations, but i think we want to do is we want to execute a plan out of that office where people feel that they have a friend and advocate inside the white house that will help them. The cornerstone and the prism that were going to look through everything through i should say more appropriately, is small businesses, middle class families, working class people. What can we do from the administration to help those people in the United States with wages, opportunity, retake the aspirational side of being in a working class like, you know, our parents were. People have likened your role to what Valerie Jarrett is doing for president obama. You have even used that same terminology. Youre going to meet with her, in fact, today. I think what i said last week when the role lea
But most analysts have not changed their 2017 estimates to reflect trump gentle. Some say 20 growth could be possible. Thats why the markets are like a tightly coiled screen. A lot of pressure to perform big in 2017. Energy in particular is expected to rise a whopping 366 this year. In fact, analysts have factored in a 100 increase just for exxonmobil. Is any of this remotely possible . Some believe it really is. Rich bernstein, for example, the ceo, Richard Bernstein advisers is in the camp that earnings will expand for several different reasons. First, trump may not get everything he wants but he is not going to come away empty handed. There will be a reduction and there will be some kind reduction many regulation. Second well get some kind of Stimulus Program. It is unusual to get a Stimulus Program when the economy is improving but it is going to help earnings. Certainly for industrials and materials. Third, the Global Economy is improving and we are no longer in a global deflation