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Much I thought somebody standing next to me who -- gets the carried interest thing is that or you -- that's going away my -- The emotional about I -- this.
Pick your fair share those living in the state of Connecticut as well but do you agree that it it does at some point have to be fair and -- companies like excel and Entergy your -- either zero or getting a refund.
And tax breaks is that fair.
Question -- -- whole tax code is is this is and is an abomination but that's that's politics there's an end I don't I don't think they've done.
The people who really care about this are gonna get anything done in the near term.
I think longer term I think you know people are saying what you're saying it's it's so unfair -- so stupid that things will get I think it's possible and I'm I'm a little bit optimistic about.
But it also on the other side is -- 51% of people don't pay.
Taxes in that regard and if they just paid something into the 'cause they -- on the same -- you and I do that we pay to have everything fixed and firefighters etc.
Everybody should -- and this part of.
Since symbols and I thought it was a brilliant move on Obama's part to get these two guys to put something together.
And it's been really very -- that nothing is ever come of that I think the idea of having everyone be part of this system is really important when they change.
Keeping it fair let's go to the markets did -- -- you put on some party had to a dance at Dow 30000.
Thirteen thousand rather -- thirty would be good third hour and 1030.
Actually thirty that's interest and we would that would take -- -- -- a multiples that are not at their highest.
So it's interesting that thirteen thousand -- the biggest few seconds -- talking about this is them.
C special atmosphere and we are so Heidi we're in the ether.
I don't think so when you're looking at companies that around the world -- nine and ten times earnings.
We've had markets during our -- center thirty and forty times during those are crazy these are crazy -- those were crazy alright.
The -- nowhere near fair value.
Well it's a general question then are you bullish on equities sure.
Very much so you but which -- which parts of the world because we could sit here and talk openly about how the US is starting to look better and that the PE ratios here are good but.
-- else do you think you know they used to say go to where the food is go to where the money -- go to where the growth this is now sort of the clarion call.
That's part of it there are parts of the world Asia obviously -- was in India Hong Kong few weeks ago.
They there's no hard landing there at all there's not even a soft -- in -- OK that's just you know hard landing or not at all not at all and in.
-- which I talked to small business people as well as the companies we invest in who you walking around just so.
That continues to grow inflation stays down over there that was a concern.
And the real estate stuff is behind them -- the the big big explosion in the real estate bubble didn't occur they've let the air out of the bubble.
And that's been helpful so in Shanghai just today they are beginning to do a couple of things to.
The government to support the housing market -- so very interesting things going at it net of it all it's very healthy over there Brazil helped the but Germany included pretty healthy the US getting healthy years slowly so those are all places do except that when I I host effective valuation.
All of Europe is eight times earnings shaped.
Yeah are you buying that -- I think I think you have to be an owner of -- -- you don't have to buy that Italy or or that one of the -- interest two things -- that slide has second ago about tax rates.
-- one country I didn't see under -- then eventually was Ireland the guy.
We've got state lowered it markedly they're not even on the list now that I used to be the -- -- they pull back so low.
And -- they are with with them the new prudently -- head of China yesterday the only place it.
He visited in.
In and Europe so he's in the -- -- in Ireland.
I think that is a gross story seems unbelievable right now.
-- let me get to your fund the Holland balanced fund it's got a lot of names that many of our investors probably own Intel.
Other big names actually the three -- return.
Fourteen point 8% and -- up considerably over the past just three months I believe 10% -- it's a good start of the year has that.
Not those -- good stocks and they they they've been good stocks and in this environment.
Given period where they've been horrible several years ago because.
I'm mark wanted to do other things but yet they -- but longer term these are the kinds of companies that your friend Warren Buffett says.
Are in fact we own Berkshire Hathaway in this -- and their companies that are going to be around.
If Iran gets hit by Israel.
There's still going to be around.
And the name that Mike feels you should own with all of the frayed nerves that are going on in the Middle East he will name coming up.
By the way -- -- -- tax rate twelve point 5% corporate tax rate.
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