Overshadowing the iphone 11. Do either move the needle for investors . Plus, quote, bone heads, president taking on the fed, calling the extcentral bank naie and telling them to cut to zero. Is wall street afraid of Elizabeth Warren more from jim on what hes hearing from leaders in the financial industry about the 2020 president ial race start with apple, though, shares rising one day after the big product event, not only did the company unveil a new line of iphones, and other devices, created lots of buzz with news of apple tv plus that this is what tim cook had to say on stage. Were excited to tell you first shows will be available on november 1st and will be thank you and will be adding more apple originals every month and apple tv plus will be available in over 100 countries that launch and it is just 4. 99 per month for your whole family were going to talk to Morgan Stanleys katy huberty the event was compelling to a large degree because pricing was aggressive. I went through ever
Have often thought was private equity and then i started interviewing. I learned from doing my interviews how leaders make it to the top. I asked him how much he wanted. He said 250. I said fine. I do not negotiate with them. I did no due diligence. Dave i have something i would like to sell. And how they stay there. You dont feel inadequate being the second wealthiest man in the world . Is that right . The most important people on wall street has been john mack, who led Morgan Stanley through the financial crisis of 2007 through 2008. John rose through modest circumstances to become a leader on wall street. I sat down with john to discuss his life story and what he sees as the future of wall street. So you have spent more than 50 years on wall street. And probably the most difficult time was during this 20072008 recession, where Morgan Stanley came close to going under. Was that the most difficult time of your career . John no question about it. We were on the brink of going out of bu
The fed added a third rate hike for 2017 or the median forecast adds to the third hike up from two. Our fed survey was at twoandahalf. So the market didnt fully price it. Yellen also and i put that word bless on trumps policies. Thats rick santellis words. He didnt bless it or criticize it much, but didnt bless it and the market wanted to hear these things will lead to better growth. And she said more worried about inflation, pointing out that when her counterparts were calling for what she and bernanke were calling for fiscal policy, it was a lot higher than now. Slack in the economy. Now i asked her at the press conference whether or not trumps tax cuts were the kinds of things that she could bless, because they raised productivity. Heres what she said. Tax policies can have that effect. It really depends on the specifics. I dont think theres anything that i could say in general about what tax policy would do. But that and i really cant tell you what the feds response would be to any
And the only thing matters to your money and market this is week and that is two meetings. Bank of japan and the fed on deck this week. The question is simple. Is this the week Central Banks ruin the rally and what changes should you make to your portfolio in advance. The probability is very high that you do. And you have two different things. The transmission is the u. S. Dollar. So you have the bank of japan coming out tomorrow night, early wednesday morning. Lets they are going to do one of two things. They are either going for a Massive Stimulus Program and the dollar is going to rip, or they are not. And if they dont do something, then you have a lot of problems all over the place because they need something. Theyve got nothing. Theyve got a huge problem over there. I think the bank of japan is important. And i would argue they are more important than the fed because i dont think the fed will do anything. But how are they going to suddenly either go on a spending spree or a nothin
Here of countries like brazil and some of the euro zone countries are still really teetering and so i think theres a lot of potential sources of chaos. I think that just suggests to me that as Equity Investors we should not be expecting big returns this year. This is where you will want to pick your spots. If you have something you like, youre going to own it. If you dont have something you like, i think its really important to just keep a low profile because its going to be a tough year. But when we think about, roger, the fact that its the worst start to the year for the dow since 2008, s p since 2001, 2008 and 2001 we know what happened in those years. If you are not going to be comfortable playing in equities this year, where do you go . I can see the scenario where the u. S. Market does provide a modest positive return. What i dont see is the backdrop for a great equity year across the board. Dow think youll have to pick your spots. There are sect orzors of the economy, the Techno