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Bring in a couple of other experts here we got Harry -- capital management president Kyle -- did.
And Jack called.
Let's talk about Google because it is a story today and mobile ads.
The question of the question of cost per click really played -- to what happened to Google.
They're getting 15% less than they were a year ago 3% less than they work.
Last quarter and a lot of people say is because mobile labs don't pay is much as species as people move from the PCs.
Today it to the mobile units whether it's their rightful owner are -- tablet.
These these people have to figure out how to make money on those mobile ads and so far they haven't done it.
I agree and -- and it is a problem that -- especially going forward there are so many mobile users out there.
You know the world now hit a billion Smartphones that's big number.
And if you can't generate the same amount of revenue on a mobile phone that you can generate on the PC.
And ultimately your profits are gonna go down so it Google is gonna have to figure out how to do basically more with less.
-- on Smartphones don't pay as well.
Frankly I'm not -- -- to click on them as often either because they get in my way when I'm on my Smartphone doing whatever it is I'm doing.
And so Google is gonna have to come up with some way to get me to either -- more often or generate additional revenues that they're not doing.
And Kyle and broadening the picture from just Google.
Look this is this this it's sort of individual with a moment but when you look at the entire market and these kind of things don't help the picture at all.
What is the biggest fear that you have when it comes to what's happening with -- -- right now.
Only as this plays right into my -- theme I mean you see -- seeing now.
Microsoft's revenues you're seeing -- revenues.
And there and and they're down and and this is exactly what I wouldn't would have thought I'm not right all the time but in this.
Going into this earning season I I I think I'm right and I think what you're seeing that the biggest thing is is here is these the labor market I mean.
It continues to be the biggest thing domestically.
And when people aren't going back to work we saw the jobless claims number today.
Giving an indication of what would the unemployment market's gonna look like going forward but people aren't going to work they're not buying Smartphones and yet there's a billion.
Smartphones in the world now and it looks like there's going to be another billion sold but as of right now when people aren't working and aren't going back to work you're gonna see sales slide.
Ty hello you say you're bear but you're 70% in equities that's that's pretty bullish for -- why so bullish well I -- I think that you know when you when you're thinking long term a lot of the folks that we actually represented manage money.
Four were putting together portfolios that are based on long term horizons not.
Within a year -- -- three years out so we're gonna position in areas that we think of the growth engines of the United States which is a tech and Biotech and so the Intel's of the world we're gonna look at companies that trade.
In a very look at -- shape right now does that does not want trades and a very liquid fashion it's fifteen billion dollars in cash on the balance sheet has more than 3% dividend yield that's a company that we are gonna buy.
And we're gonna hold long term however in the short term David I I think that this earnings season continues to have.
Dismal revenue growth.
And that's what we're gonna focus on because of western Europe's demise and -- the employment market here.
Well we're glad you mentioned -- tells us as we said we have the former chairman Craig Barrett who is of course I'd have run the company for many many years and he is here today live we have so much to talk -- about.
But Jack where do you stand on this and what's the best way to make money right now with the way year viewing -- mark.
-- -- So I think we have to look at this from a a longer view and then in the short term there's going to be a lot of volatility the market's gonna go -- the market's gonna go down.
Economy may or may not do better depends on who gets elected -- -- there's a lot of issues.
I think ultimately we need to look at from a Google perspective from a Microsoft perspective from an Intel perspective.
Is we're is the market going how are we transitioning in -- -- marketplace and were moving from he fixed marketplace where people bought lots and lots of PCs.
Where they -- at home all the time and -- and TV set.
21 where -- -- mobile --