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This evening won't want to bring in our market panel now Scott Schumer warned.
And -- months in.
-- let me go to you first about the news inside the beltway because you look at what the market is -- its shrugging off all that bad is sometimes what happens of the -- does affect the markets.
When there was -- possibility of a government shut down -- affected the markets the debt ceiling.
But this time no it seems like the market has had it would DC.
Well I mean I.
Did for me once you know.
He swindled out of staying invested through December and January by -- -- into this lie about the fiscal cliff.
That the world is gonna blow up so now we have this this new deadline I think people are certain think wait a minute.
The real enemy here are entitlement programs are going out years from now not something that's right in front of us so most investors if you -- Yasser main street USA.
You did -- they don't really see that there's this impending doom for the sequestration that we need to start selling stock in fact.
What I hear a lot investors ask me as do you think we can get a little -- so that I can get some cash to work.
Right right -- Scott do you think that even though the president recently has has kind of pull back on some of the scare talk that he was using earlier he sees as a little milder -- that.
But does the market feel as most people do that the president was overstating his case.
Of the effect of these cuts on the overall economy.
You know I think to Lee's point I think would be investors -- realized this is for -- a broad term political theater.
Yes the president wasn't that dramatic but I.
I thought I heard it will cost 800000 jobs so there's a little drama going -- and -- -- say 85 billion dollars which is what the cuts are.
Relative -- federal government's federal government spending is not that much I believe they get 85 billion dollars -- -- federal spending without reducing much of anything just -- some of the fat.
Politics are based on threats and promises and markets -- base and -- bottom line.
And at my -- the fact is is that the bottom line of a lot of these companies is doing pretty well right now.
Which is why it will not be surprised to -- -- -- trade up towards and through 1562.
And then maybe even through those levels but again I think astute investors.
That have been long this market for quite awhile are looking for that last -- -- take some profits and then -- on the sidelines for a little bit longer but again this market is not going to be stopped in the near term.
Sure it's not not all of what's coming out of Washington they need more concrete.
-- much like Europe crude oil and even processed metals Liz were you hearing anything on the nicely today about what was going to watch our media to get the political channels were all full well that information.
But I didn't hear in bed traders or investors talking much about the -- Well I'll tell you something that a couple of screens are on the news channel's fox and CNN and they were watching it earlier the day if not now David.
They're not really that he trusted I think -- -- decided around here on this floor and and a lot of them a truck started to clear out a doctor John -- peanut.
Ben Willis -- people -- they're -- saying that in essence they are not really looking at what happened with the sequester this wasn't an issue.
-- -- if if things are looking pretty good in terms of American business is why are you going overseas your picks involved.
Are emerging market had -- vanguard international why not keep the money here.
-- know what what does Warren Buffett's thinking about me right now nothing of course but your first well let's just give some context day you know.
The largest -- by two times -- largest.
Amount of money that I haven't any position and you might equity models is the S&P 500 but if you -- -- know where investor to -- who's worried about the run -- could put some capital highlight emerging markets because I always have a small amount of that but you know he didn't have the run up over the past month or two that the -- does and I expect that they will outperform -- JJ.
-- the end of the year but you know what if you've been long the S&P you gotta stay long BS -- -- when we get to that all time high it's gonna happen we have to remember.
Is Europe still there is Japan still following through and then maybe you just down a little bit particular role.
Guys we got to run but I.
Have to as Scott about apple because that's one of his -- is apple gonna pick up today its 52 week lows got.
I I fully understand that but the other day we've got a relatively simple -- with apple.
And that is so long as they can make devices to make people's lives easier and better that their competitors -- continue to win.
And quite frankly even though we don't Microsoft we did by Microsoft slate.
And you know something I hate to -- known -- -- knows how to use it.
And we've got some pretty savvy technology people.
But apple continues to make -- lives user and I expect them to continue to do so and they have great customer service I gotta throw that -- -- charmer org only months and Mike gurkha.
Thank you gentlemen good to see all appreciate it was will be coming back coming up.