That we double up in this category then . You are a consultant. You are giving us advice for now and in the future. So if you believe its going to go up, why was that not in the recommendation that came before the board . Everybody in this room needs to understand that you hold securities in two places. You give them to managers and those managers make the decision on if the security is attractively valued or not. As a consultant, why dont you recommend us investing more money in the field if you think its going to go up . Were not recommending adding Additional Energy to the portfolio unless a manager hired to make that recommendation determines that thats what they should do. Were arguing that you dont take away that choice from them. The figures i quoted to you do not embed an expectation that Energy Prices will increase. What they do embed is taking energy away diversifies the portfolio. You made a statement that were making a political statement. Could you please back that up . My
After a 1000point drop . Higher, it seems. Heres abigail doolittle. Abigail were looking at a rebound rally for the major averages. Dow,e open, we have the s p, and the nasdaq higher by more than 1 . It is similar to what we saw on tuesday. Not quite as frenzied as what we saw on tuesday, but nonetheless, sharp snap back after yesterday. The dow down more than 1000 points. Lots of uncertainty and volatility. As he happened to the bloomberg and look at the s p 500, futures overnight into today, the trading action, we are going to see this story. Teachers had been higher, higher, futures had been higher, higher, higher command and lower. We have seen these whipsaws around the week. What is next for stocks on this correction officially yesterday, not so much right now but on this correction that seems to have come out of nowhere. Is the factf pain that the major averages have been overbought. Perhaps stocks went too far, too fast. His is g btv 3006 this is in relation to the. 00day moving
At one point the nasdaq was in the green and then went back to a loss and accelerate from their. The momentum from the downside thatat is interesting is it seems to have sparked the selloff last week, the rise and bond yields has reversed today. We have buying and treasuries and the 10year has backed off, and yet the selling is happening in stocks. There are some individual stock specific capitalists, but overall we are headed into this correction that investors have been predicting. We are now down more than 5 . Well see where we and up at the close of todays session. With the selling of stock comes the spike in volatility, up to at numbers just below before the president ial election. It got a fix on the top and the fiveday change vix. Vix spiking, and we have not seen spikes in volatilities. Last time we saw the vix was around the president ial election, so we havent seen most like this in quite some time. We got wells fargo on the news that the Federal Reserve is not going to allow
From sydney, we are just a. M. , just outside 5 p. M. , and over the next half hour, where looking at how the stock market plunge affects asian trading and around the world. A special day in the markets and the special day as were going to be looking at, around 3 00, i was doing a report on bonds and as i talk about bonds bouncing 800, we saw the dow down, 900, 1000 points dow jones down, excuse me, the s p down, the dow jones down the nasdaq losing 3. 70 . This was at the close. At the worst level for the day, it looked much darker than that. Joining us now for the entire hour is julie hyman and gina martin. I want to hear the ticktock from you julie. Down, and then all of a sudden, it was plunging. There didnt appear to be fundamental change. Strategists call this a mini flash crash. What does that mean to call it a flash crash . What they mean is that you computer trading, algorithm trading being triggered by a that can speed up the velocity of the movement, whether it is to the upp
John mentioned. That is to say, that the directionality is clear and transition to a lowcarbon economy is nuanced in the impact its going to have. John spoke really well to the nuances. It will create winners. It will create losers. The question is, how do you manage that Downside Risk and capitalize on the upsides of the transition . This response, how do you manage that and mitigates the solutions. Time check . I havent been timing you. Thats all right. Bill mckibbon called for a managed transition off fossil fuels. If were talking specifically about fossil fuel companies, which oil and Gas Companies are currently aligned with a two degree pathway and which are spending capital on projects that will be stranded down the line. To answer that question, there was a report that ranks the 69 largest oil and Gas Companies on the proportion of their capital expediture that falls either inside or outside of a two degree budget. What emerges is a picture of which companies are most exposed to