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Got to visit dot com live countries immigrants.
And -- where -- How -- Turkey day with fantastic and -- it was good at it and that the -- it was.
We all over the place my kids and they've been sick so it was just the kids and I we really quarantined -- -- -- -- -- -- we had last.
But the idea that I'm good we thought -- -- run again.
Got not level.
What could be worse you know you can -- sixty billion dollars of debt you know asking full extension on.
Yeah and you know it's actually interesting market still holding is still down a bit right after that Friday.
As development of the bridal attributed surprise that absolutely -- came frighteningly -- going to be talking to bill that would -- Black Friday every -- up -- up.
You know -- attempts -- make fun of people that since -- African boys.
But it's giving it one of those jokes and that's all we talked about was to -- and what was interesting is the news on the by the there.
Making an attempt to put up their interest payments for six -- came Wednesday.
Yeah we really digest it and then -- home digest in Turkey want European markets are digest on Friday yeah we came in Friday to all this news.
And it was interesting because I was down on the floor at the -- exchange came in we were down.
And then -- watching European markets turn.
Maybe they would start to think that hey this is not the end of the world this is not Armageddon is not as much Reid says why not they pulled back people in the -- -- it's like are -- Remarkable steroids if you think about they overbuilt I mean we have -- old and on just a few minutes from Dubai.
And that TV has been talking at all Dana they've they're both -- as you know if we build it they will come -- -- buying anymore you know.
Re claiming saying we're shaping islands in the in the shape of the world and all the celebrities are gonna buy an up and -- -- gonna keep buying stuff and dies eventually though the money dried up just as we saw here and other stuff cut a hole in the bill trying to refinance say you.
We re work out those mortgages and and the like and that's is that a lot of construction projects -- -- -- you know liken it to some of the ones in Vegas they -- You know teetering on the brink of not being completed and there's -- -- You know ten or twenty times that Brian can fill in the blanks on the -- the dollar amounts -- and.
And what's interesting in that the -- you mentioned Vegas casino opened a new one in begins today go figure at least Brian -- out there you know having.
Yeah you're you're buying -- in your help out there -- high roller.
-- -- Gonna say you're hitting the -- Nothing we flew out today 8 AM Saturday morning landed 8 AM Sunday worked all day after day got no sleep woke up at 6 AM local time at 9 PM.
So yeah we we bought a pack of gum I'm not sure that's -- rescue the Dubai.
I figured it devices but anyways this -- you know point.
What do you think we're duel it out here have been reporting all eyes are all day reporting -- -- an ominous.
I've got a trivia question for you guys -- all right -- you don't like trivia.
What percentage of view buys population.
Of about one point five million people.
What percent non natives.
95 -- 0%.
Well you guys -- -- -- reporting earlier argue it's 90% but I.
That blew me away clothes and -- -- real important is that.
Everything you guys talked about and all the building and I gotta say I I I was not prepared for what I saw when we got here.
The magnitude it looks like multiple Chicago's.
But nothing is more than ten years old you've got -- -- metros.
You got a five billion dollar project going in right behind us here.
Despite always get concerned and why do you care about the 90% of this.
Those people came here in large part to work to build wealth to build fortunes or to help build these buildings.
If real estate slows down and hats people are going to continue to go home but yet they continue to build so in other words you'll have.
And fewer people in what is already.
-- over supplied.
Market and so we talk about the future debt obligations of the region.
Those kind of stats don't portend well to future debt repayment.
But also asked but -- the occupancy -- vacancy rate -- me right now Brian -- -- that the building going on behind you is is astounding.
The footage we've seen on the network today that you hating on one of your -- taped pieces.
How bad is it right now -- you look around and in you said you you could see -- offices from where you're standing.
Yeah well it's -- time here but to my right is it right off camera is a building I don't know of the forty story fall.
There's no lights on at all and they were weren't any on through the whole day in the parking lot within the all day.
So that -- and I can see in in the double -- anybody in there at all like no offices no -- whenever the big building there to my left.
In front of me here is 12345.
I don't know seventy Storey buildings at least always brains sort of halfway constructed.
And going up and of course this thing which is called the Dubai pearl.
Multi billion dollars five skyscrapers residential.
Construction there were some people down there today but it wasn't hard core construction.
This is going to be -- MGM grand not a not a casino no gambling here in Dubai but -- Bellagio and MGM grand.
Hotel and resort and if we go closer to -- back which -- back that way.
You've got -- 200 story.
-- -- by the world's tallest building and probably.
Twenty to forty.
Within a kilometer.
Radius I'm learning to metric system to all of a kilometer radius of that building.
And you know maybe -- find it kind of we don't know that the question.
There's also been wide reports out that many of these contractors.
Have not been paid or not been paid in -- So it's not just the debt of the companies that we've talked about there's a lot of off balance sheet concern about you know if you built a 300 million dollar building.
And he got a hundred million dollars in payment.
Are you gonna get the other 200 million dollars that you wrote and so if you go the off balance sheet route.
Some of the private estimate -- the contacts we've had the meetings I've had the last two days run much higher than the 59 billion dollars in debt that we.
He's gone yeah that's the concern you're absolutely right about that and I spoke with people on Friday it believe it or not Kariya is very involved in the construction of a lot of those building there's a lot of Korean construction companies that are not getting paid to your exact point.
But what I can you address what happened was it just overzealous -- this was it just you know to me this -- like you you know.
Roberts -- -- having market on steroids but to me it's more like -- -- speed right.
Everyone thought it was going to be neat hot place to -- is that really what just happened and and they blew.
Yeah I'm not sure they blew -- trade you know what and how would it be a little more positive on it because I'm gonna take it -- it is.
But the moment you land at the airport to getting to the hotel.
It is I mean it is spectacular and I'm gonna say that I mean everything is new everything is brand everything is the best.
And everything I mean the the Atlantis resort over here has an aquarium and I a lot of hotel hours are up for him -- -- -- whale shark in.
-- the metro system.
Is a seven and a half billion dollar Japanese.
Doesn't have a driver it's completely automated the metro stations.
Amazingly new and bright and brilliant and guess what a lot of these buildings -- And and the restaurants and I mean everything.
Is just done to the maximum and guess what there are a lot of people that are here still here yeah fewer than they were and maybe they're making less money than they were.
But I will say this they -- pulled it off average economic growth of more than 17% for the better part of this decade per year.
If they can recover the economy -- get people to come -- if they can develop.
More of an economy -- just real estate and services.
Right because that that pay upward bubble that they can create that.
Dubai will go down as one of the greatest.
Economic growth stories of our lifetimes.
If they can't get new population in and recreate those jobs there will likely be more debt trouble.
You've come so it's an if then statement but I gotta -- I am.
It's it's it's amazing I mean it -- it looks like.
It looks like Vegas except times fifty.
And without the Americans and Jean shorts and that maybe they'll be yeah.
I got that it may -- it's going to be there all day Brian Sell and what about the guys split in the cards.
You know is from Jersey.
Brad I know gambling and they act thank you so much for all that that was great and I know you -- Brian very hard out there Brian -- Yeah yeah away what he's suggesting that a -- -- coming -- you have any idea if there's reports today a ten billion dollars in US bank exposure I think when people started reading the numbers are feeling a little bit better at European banks -- some nine or ten times that that.
That's pretty unsettling if you're holding shares of European Bank right now so -- as everybody has their own.
Exposure we've got the housing mortgages some prime in the like they've got to.
I mean to -- -- it if you know it's like a pop up.
Came out of nowhere right beta -- this thing and it could be with the greatest story ever told there could be a financial disaster and try to -- sound.
It's a great experiment and is -- -- our economy mean they're not manufacturing much of anything right well -- or.
Someone on the some -- -- it sounds like any town USA in -- your right we get the same story going on it's just that much bigger out in Dubai.
That's got to Sacramento.
Now nice and early on the left coast 910 out there -- Harrison.
Has agreed to get up nice -- -- and talk to us today thanks for joining -- morning line.
Good morning Robert Tracy it's beautiful day here in Sacramento I'm just excited about being here and sharing with you.
Outlook banks will be got a set up for this whole Dubai thing what do you think of the implications it will have on us here in the states.
I do we're located -- -- -- a speed bump or we're using -- -- as a catalyst to have conversations with our clients.
To just make sure that.
Everything is in the proper place in that it isn't going to be this big Black -- -- that -- is up everybody's portfolios.
So we're looking at it is may be a time didn't come back into a stress test on our own portfolios.
Stress tests on portfolios -- us a lot of stress testing going on -- rating and effervescent.
And looking back at the decade it's almost up since 99 you know and you're you're really looking a not very good the S&P 500 down 26% five of the ten sectors.
That's a lot of stress and therefore.
Yet is the buy and hold we we talk a lot about the buy and hold model like I know that you guys were in and out you're out managed to get outing cash you know a year ago.
Tell us a little bit about the stress testing you're doing right now -- everyone neo reassessing risk if you will in the wake of this little Dubai debacle if you -- But yet that is absolutely correct we really look at the prove that there that principle of buying and investment staying invested in it in trusting that.
My asset allocation strategy will protect me we think those days are long gone you have to be more nimble in this market.
So as we know that the banks and financial industry were pretty much forced to stress testing looking at all their investments.
We force fed into our own client mix.
But going back and saying let's kinda look at our values right are we investing in the right sectors are we taking more -- than we should be.
Do we have a sell discipline meaning if -- buy an investment do we have a strategy or what -- -- to get out of it.
Summer of oh wait we were sitting looking at all our systems and we could not put our arms around the wrist that was in this market.
And usually you can come back and say there's enough risk and there's enough positives that offset -- we just couldn't get a handle on that so we started raising cash in the summer of oh wait.
And -- -- late summer we were sitting almost all cash and not being killed by the fall off that happen in no way.
But the hard decision was in the spring of 09 February march and April of making decision to re enter those markets.
And -- we had to take emotion out which -- -- to maybe talk about a little bit bit.
That was a very hard thing -- we did that decision and we're just having some screaming results this year and we think there's a little more room to go in that area of that.
-- the banks are forced to stress tests it makes a good -- to do an internal stress test in her own portfolios.
Right so let's talk more internally and more about here at home sitting -- saying that you see this market potentially finishing up for the year.
How does that -- -- job the job number of working because we know that I'm going higher we know housing is I mean it's still pretty pathetic even though -- -- likes to say that we're starting to see those.
So called positive you know.
Little positive numbers here and there it still looks pretty bleak on the economic front so how then does that translate into an -- market -- at December 31.
-- what we're looking at is very simply is that that part of this economy that hasn't recovered as the jobs market.
Unemployment numbers to come out last month were a little higher than consensus estimates with ten point 2%.
And we're gonna get a new number -- Friday and I think that's going to be pretty revealing.
And I think that we'll have cement in arresting keys.
First time claims last week popped out of 466000.
Its first diamond.
-- quite a while that's been under half a million we think over the next two to three month cycles that number could drop maybe surprising down to about a 100000.
So we see some improvement in housing I know that's not gonna sound comfortable somebody they can't find a job but there are some underlying improvements out there.
And also housing you know we're seeing some big numbers coming up as -- improvements existing home sales were up over 10% in October.
And that well ahead of the your -- brand new home sales are up about six point 2% in October and setting some new trends.
And I think the homebuyers with the tax credit will help but also -- not feeling.
That the markets are -- That they're gonna have big huge drop from -- going forward are maybe we're at the bottom we might see a little bit improvement but it isn't going to be big at all and improvement in housing.
There that we were not seeing a lot of and then proving yet because they're still building houses -- we're not selling all the ones that we have right now on -- a lot of people.
Underwater don't necessarily have jobs to pay them off but that's a part of the problem -- -- -- -- article like this Friday may be a Black Friday for a different reason than last Friday but.
Let's get the focus here on retail here we're looking at average hourly earnings yet still down eight.
Basically the record low levels hourly you know working week is at record low as well yeah we're looking for.
Slight improvements off about level when they were on numbers come out on Friday but we're looking at more people out shopping but buying less.
How -- we look at this for -- continuing our consumer driven economy.
How does that gonna pull -- -- it's about the morass basically until we start seeing jobs created.
Well the Black Friday numbers were not as big as ever expected I think the numbers we -- the end where about a half a percent increase but I don't know if your mailbox or email box look like mine.
But it was bombarded with Cyber Monday numbers and -- -- by here shop here and I know that -- online shopping is improving drastically.
And -- in going -- -- -- so some interesting statistic is that half.
The people that have online access at work.
We'll be doing online shopping today so don't tell your boss but I think that we can come back in -- I think there might be some improvement -- that.
But this isn't going to be as big of the season and I don't think of -- shopping in that area I think it's gonna take a gradual move.
That people get a little more comfortable letting go of some of -- I don't think overall spending this season's going to be up that much from last year but you're -- alliance shares gonna go on line -- -- maybe investors should be looking.
To the Amazon's -- -- -- makes an incredible moves -- higher.
I've you know I do agree with that.
The retailers that are figuring out of doing that and I'm getting some emails in from sources I wouldn't normally expect to be online.
And I think you're right on that Robert there are going to be some interesting plays and those sectors of the market.
I'm gonna go shop during break on line don't tell anybody brand X -- Sacramento thank you so much experts joining I think you're against you're -- -- That's right they Tracy and Robert they give her a lot of media do it's always a pleasure be with the folks at fox good -- getting fat men.
Hey we love it thank you get but Ankiel.
I would go to break and that having -- in -- we're -- -- -- -- your credit card.
They say their sales I have been.
On the back to back in his.
-- -- I didn't hand you need to shop online and give me panda.
-- -- exploded there is a -- but it still works.
We know works hard is Jeff Flock and he nobody works hard nobody and actually he ends up in the big -- -- he's now.
In Tucson Arizona.
And -- If you two were surreptitiously shopping over the break -- you workshop on Sears dot com he would be talking to these people.
We -- to show you behind the scenes this -- -- largest dot com's largest call center.
It's one of by that they have around the country but -- Bob follows me around there are.
Essentially 700 cubicles throughout this building in Tucson -- looked up through the if you looked up through the thing there you see a whole other room of them.
This is where you chat online about products.
This is where you ask questions.
Michelle -- Mac runs this.
How many people -- got here we have just under a 1000000.
People taking calls doing -- Altman.
And what's what what what -- give me a sense for today and ways to him.
Intense what's it been today and very busy it's been great press on the -- lots of questions about our specials today -- by our customers to check out we'll.
Fears that comment came back very on this hour brought to you by Sears dot com but -- speak well this is what the site looks like this is there Cyber Monday page.
And the thing that -- love about what they do here.
He has the ability you know they're bricks and mortar as well as on line.
If you want to speak with a representative you can do that it comes here at the chat -- -- could do that here or you can email again.
That the guy who runs on line pursue yours Scott you.
Late this ability people have a bricks and mortar store and to on line not like Amazon which just don't.
Absolutely it's a very convenient for customers because shop your way you can -- -- a -- you can go to the web and you can come into the Carlson and -- -- there.
And we can we can deliver to them to the store or to your problem and -- -- -- services we've really.
Make -- can manipulate -- total one stop shop but and Michelle bring me around your 'cause I'm looking at all these different people and I don't want show the screen is I don't wanna give -- who compromise -- -- personal security here but people are doing like that -- -- on and off my -- correct.
In debt and and -- noticed an increase in this -- has had a what some people are gonna say a double digit increase in online sales this year you feel Matt Nicholson absolutely we've spent none really -- able you know Black Friday as well as Cyber Monday just focused on not taking great care our customers and be ready to talk about our special.
Okay well there you go behind the scenes at Sears we had to -- all the way to Tucson to do this and of course when you look at Chicago.
Going to Arizona I'm not gonna turn that trip to have a say -- -- right now.
Yeah complaining Jeff I -- -- question had to know the yes to all these questions let's say I -- and about.
A dishwasher I have a thousand questions about what dishwasher Robert on the other hand -- -- because he needs some.
One thing because men by -- line craftsman tools that.
But again -- And here in areas that and -- specialize in certain products.
I'm gonna ask that question the people that know -- it's funny you should say you need a washing machine or something because for some reason there are washing machines and I don't know stoves out -- Michelle -- of those -- -- what -- area and how are these people so Smart that they know about all the little.
Basically all of these appliances are used for training.
We want to make sure that all of -- says he would have a lot of knowledge about the product that we now have to say Scott all -- these people know about each product that's their training on those products so when Tracey asks.
You know does this does this say yes they must hope that this wash her dishwasher and it has got to be quiet -- -- -- -- my kids up.
That's easily and and they know very well because of the train and we -- we have a couple tractors back there -- some some televisions.
And the folks here are our experts at the at this products now that was a darn good question Tracy that was -- -- -- what I and I wanted to know what those damn dude you're fortunate we're doing over there now.
Now I know and can't you tell -- how critical and I think to your questions still southern tell -- to -- an extra information.
That's you're you're gonna buy tractors that what I detergents and yeah I went in -- -- I need to get -- it is the garden state up.
Hey -- also thanks for not showing takes its credit card information you know on the camera there.
Tell updates about exactly because it's probably over its limit already I was gonna -- don't worry.
Jack thank you sell magazine.
-- them to block the block.
Well from the -- to Philly.
Ball a little.
We're not happy very happy IDS and yes thank comments since joining us to talk about the Salmonella -- and we're not supposed to say Cyber Monday because Bryant's -- that we donate money every time we say exit tonight.
But that being said it is Cyber Monday and what have you seen so far.
Hi Tracy Ira but thanks for having me on the show and I was gonna wish you happy Cyber Monday yeah but yeah.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Get ready so -- it's really hit it's been really hectic day -- my company GSI comments we provide.
E-commerce and marketing services to over 500 retailers and brands in -- all of them.
This is a very big day for them ended may well be their largest shopping day.
Half and how did Friday go first of wall was Friday at success.
Friday was terrific I think what happened and was saying it today as well as consumers.
Decided they weren't gonna go stand in line at stores they woke up early they were on their website -- 123 in the morning.
I was seeing the same thing today by the way so I think it's going to be a great season for online shopping.
Where consumers have decided -- just gonna stay at home will stay in the office and take advantage of all the terrific sales -- -- today.
Well you know one thing that comes to Miami -- -- -- 1 -- 2 o'clock you know you see these.
You people who are out you're going it's the big box stores like thousands of them at 6 AMR 5 AM whenever they happen open to -- and that's always open.
So what happens if you're in Hawaii does that mean you just you -- -- on at 9 PM your time trying to battle up people on the East Coast today.
-- are in the middle of the night.
Well he's certainly learned to time your -- -- -- happens to win the sales are but the great news -- this has most retailers.
-- and -- that so when they say.
One day only they -- one day no matter what time zone you're wrong -- it starts earlier on the East Coast -- ends later.
It on the West Coast.
And by the way it's and one day only sales of -- those have you who are planning to do seven break hurry because all of these sales and at the end of the day today on the yeah I am really happy the can you explain -- -- how your company.
Tracks sales and just -- people understand how you gather your information.
Sure so what his -- does is we help all the companies sell online so we.
-- about -- a hundred different web sites we have.
Sites that we help run from DNC to Toys 'R' Us to Ralph Lauren to.
Dick's Sporting Goods so we have a pretty good handle on what's happening across the board because not only do we help them sell through their web sites we also have.
Seven fulfillment son is where we pick pack and ship products we have called senators.
We have a whole slew of interactive marketing services.
So we've got a really good pulse on what's happening -- clients' businesses.
And so far it's been a great season for -- for most of them when they went what sectors are seeing particular hot what's hot right now what are people buying not just what they're shopping for a way -- actually purchasing.
Well it's really been strong across the board probably the most we've seen is -- not apparel clients we have.
Ralph Lauren and -- Kate Spade Calvin Klein a hole.
Number of apparel clients people -- are shopping for clothes sporting goods actually great story that we operate.
The sporting goods the sporting leads the NFL -- MLB if you go to any of that web sites.
And you shop -- their stores.
You'll see many great products that they sell.
Yesterday was was football day comments so you know certainly saw some nice nice business across.
The NFL store as well as a number of other stores -- really been strong across the board.
So are you expecting Cyber Monday vented to exceeded sales from last here.
I'm I think -- yeah I think that's the case I mean every industry statistic you see out there has said.
E-commerce is growing in double digits right now and you contrast that with retail stores which are.
And 404 genocide this is biggest shipping day we will have in one day be equivalent of 340.
UPS delivery trucks that will leave -- warehouses and get all of those products to.
Consumers in about two and a half days -- It's really different this year I think where people are retailers have stepped up to make sure that consumers are gonna get -- -- really quick.
All right the -- the -- think so much for joining us from GSI commerce in Philly what they to update on.
Thank you so much.
Terrific thanks I definitely -- yeah exactly so much for joining us I I I'm not 100 isn't sure why he would go to the brick and mortar store these days.
Went to actually try on the merchandise hidden.
Maybe do you buy -- have been on the -- Well if I know you know if it's something that I -- and I went well there's that but -- -- filled with -- that -- -- warm and I know my -- and I absolutely do.
Everything this is sending it back -- has -- about -- it is I agree but at the same time.
Actually driving parking getting out talking to people who don't want -- be there all that to mean more miserable you know.
And I hear you didn't shopping anyway tell you what caught my -- tell me about this so every parent.
Puts out there.
What -- if you what it's Christmas item images that partridge in -- for the actual first off I mean partridge in the pear tree and I'll give -- hundred bucks but that being sent back.
If you buy one of everything just one of everything this year's total comes to.
Dollars but -- -- and most interesting was.
This started back 26 years ago in 1984 in 1984 the cost of each of those items.
Dollars now and 2000 right when we really built -- editing was great night.
It was only 151210.
And then you come to 200921.
What's most interesting is it's only up one point 8% from last year and you -- -- guess why.
You know darn five golden rings long.
That is up and as a result -- five gore got greens are up they are up from 150 dollars to 500 dollars that was really the -- of the price.
Now the largely been probably you know their their -- -- a lot less now right.
I would think that -- that made him LP -- -- -- -- -- these days.
If you've bought the grand totally out of sing -- song twelve German -- -- -- The actual total is.
86 it almost is 7000.
Just a colossal waste it's very -- but nevertheless PNC doesn't every year they have done it every year since for the last 26 years.
So if -- -- -- twelve days of Christmas a whopping.
Stubbs all of -- -- you bought gold rings earlier you have gold rings made -- Milken and well that.
Don -- and -- if you can find it.
What about foxbusiness.com.
Live I'm Robert Draper Chris Connor alongside -- the Tracy -- -- I'm an arm -- -- -- acting -- that -- she's gonna sing Oklahoma.
And they love nobody watching out.
We are gonna get Oklahoma dedicate Kerry chairman of oh okay advisors here and you see something really interesting.
Caught our eye you know in the past -- -- -- you've lost.
New exchange traded funds that's not necessarily something new that's done you and every -- ailments but what you're doing -- basing them.
On geographic location we're not talking about you know countries -- emerging markets -- -- -- US state she started there with Oklahoma near you moved to Texas.
Talked a little bit about why you did it -- me why do we need you tips based on a state instead of just buying the stocks themselves.
-- sure I'm gonna go to the idea of performance when I first looked at the idea of trying to do -- state based equity ET at Oklahoma first.
Not try to analyze well what if you limited the companies no more than five verses seven and a half percent -- -- one.
And how would that look against index like the S&P.
You know how how was the performance and I was just stunned at how well -- okay would have done it -- existed.
-- for the past five years.
What I did was get with an index provider to prove my back test and once I saw that -- and I was ready to bring it to market.
But well I want to do that why would I want to put all my eggs in -- basket.
Sure well Oklahoma -- Is about sixty to 70% in energy but the energy that we're -- Is a bit diversified you have some natural gas you have -- -- -- have -- drillers them explorers.
And then the other companies the make up the rest give it a nice mix so again when you test that how would it have done it that it existed.
It's off the charts compared to the S&P which is basically a flat line.
Well -- I wanna buy an existing exchange traded -- say the XLE which is all energy which.
-- primarily but primarily you look at Texas anyway I mean most of these companies are oil and natural gas based.
Why what I wanna choose he ended the geographical and as opposed to you know that silly which could capture both Oklahoma and Texas based companies in one ATF.
But sir again I would just say go check the back test that I see how -- indexes would have performed.
Against those phones and I think you'll see that they would have done better.
You know in Oklahoma and in Texas were known to be business friendly states had good policy -- to encourage business.
And I find that a lot of the companies here compared to other parts of that country.
The executives the executive management there owners of the firm they have a vested interest they're not in it just.
The stock options.
Is this is socially conscious thing as well enough up.
It's no secret that I'm from Jersey and -- -- from Jersey if my name it we have Honeywell Ingersoll Rand Johnson Johnson by seven and a lot of great companies that are headquartered.
Maybe we should have a Jersey ETF.
Well unfortunately it won't be from us we've tried to look at the other states and use the same formula.
And none can outperform what Oklahoma and what Texas look like.
So as far as you know is this a gimmick from us now it's not it's performance space and we don't plan to launch any for any other states.
And I doubt that anyone else would do it unless they were doing it for the -- reason.
So these companies that are headquartered there are -- just have a presence how to you gain eligibility.
Yet to be part of the the the -- OK if you will what's that ticker for the Oklahoma the -- except for designed to Texas large cap fund.
Right they are there headquartered in the state that's requirement and then market capitalization is requirement inadequate trading volume.
Yeah I would trade -- when they had to say there's not a lot of volume here yeah 5000.
-- -- shares today for the the TX south volume in the -- from -- -- Elliott about fifteen and a half million so.
Should there be a concern many of the smaller individual investor if he should they you need to get in -- -- the liquidity of these funds.
Now there's plenty of liquidity in the fund investors can get in and out I'm sure we'll build buying mall over time -- our story is starting to get out there.
This people who are looking at trying to me overweight energy with a little bit of your diversification we're starting to hear from -- that they're interested in maybe coming -- soon.
And we've lowered our expense ratio to just point 20.
And so we're making ourselves to be a market friendly product yeah I noticed that you started out today -- point 85%.
And now you're you're just undercutting that accelerate Becky bringing that up and that's one of the closer.
Ones and it's point to one -- believe she'll be undercutting them.
And also -- that should you get 10% of your your management fees to support -- bridge which is a nonprofit there in Oklahoma.
Can you talk to us a little bit more about that and and why the decision.
To donate some of the pressing Terry obviously it sounds like very upsetting thing to do but just curious -- Sure the reason to do -- is there isn't a place for children who are affected with develop.
Mental delays or are on autism spectrum here in Oklahoma.
So my wife and I wanted to get ourselves.
Wait to try to help fund that to happen.
There are there is well known facility in Austin, Texas -- as thoughtful house and we wanted try to provides those types of services here in Oklahoma.
I did do you do you guys get you sort of you mentioned in business friendly as -- are -- -- tax breaks for your funds through this contribution.
Well there will be yes the course and then is as far as foreign investors who -- here in Oklahoma.
Our state legislature passed the loss over years ago where any Oklahoma based equity -- -- for more than two years.
Is exempt from any gains tax.
Twist there I don't know that cats.
My CPA friend here.
-- exactly and I but I you know I think the whole thing is saddened and interest and probably a sign of trading to -- Keep -- chairman well okay advisors from Oklahoma City thank you so much for being with us.
And I get upset spoke Pfizer is headquartered in Manhattan AR Jersey aid that being said though I think this is somewhat of a trend right I mean.
Because the market is flooded some people -- -- trying to get creative in order to come up with better ways to trade this market.
I don't know maybe we will -- -- Jersey -- state song of Oklahoma.
Do you realize Obama the Flaming Lips and let them -- -- that -- -- -- -- -- -- states have a -- Sure the old north state I believe it is the North Carolina I'm going to be correct about nine -- and rally here I'd -- -- -- out -- the -- -- is at.
It please don't tell me it's like Jersey girl from Bruce Springsteen how what I find out what my fifth song -- -- site.
Google I got a little acting break.
Which we're gonna take right now and we'll be right back I don't know my state some.
But we're not breaking but we're not written that I'm not gonna learn my states on Matt's college here Charles Payne who is also Jersey got maybe -- did it.
That question that I -- that I have a Frank Sinatra song I did probably didn't really have nothing else did everything as a bird song -- all even gold finch are we.
-- Obama pretty good attribute to them an embarrassment and an -- gonna find a song that I I don't know Oklahoma though that's where they have been at the parking meter.
Really -- cities we can blame them that was sent to apple cup and that's -- they're -- -- would be -- What every finest a lot of companies come a year movers though I gotta tell you what I thought was moving today or -- actually -- -- -- -- -- different picks this weakness yeah.
Today I can.
With the let me tell you I so I think I can't wait let's do unspent and I know you talked about Monsanto earlier this morning.
My -- -- was parents actually came out and said you know while they face obstacles from China.
Competition overseas the stock is still sucks and go.
My intent of an -- to -- -- we got talk about -- -- Don American Eagle Outfitters came in next.
Got a third retail and actually on Cyber Monday and compensate all of they now just when I Bryant yeah.
With our capital upgraded it to buy from a hold sales are positive for November if you can believe that we've actually heard here especially that great American -- that.
The one to if you're gonna go in the retail space in the -- retail space stay away from Abercrombie American Eagle might be there.
-- on dollars while I was puzzled because Abercrombie as you point out the morning -- Still like to discount them they have had to be regretting that you heard how great this month.
To scrap -- yet they have cut prices this time around haven't made a little bit better to let this truth is what the does that again what exactly sort of believe their -- stuff that I had was that about him.
-- you know what they -- -- careful around so they -- with it.
-- set out to the steel sector -- united -- US -- Goldman Sachs upgraded the whole sector.
As a sector and many actually individually they upgrade US steel to the conviction -- list which is it was a good thing for stock and therefore it moves.
It's CST systems stock at a 52 week -- already this morning they outsource business solutions to cable and bright direct broadcast.
And they entered into a new multi year agreement with the DISH Network that did not hurt the stock it was about 9% last I checked and I would have -- -- in my little.
Pharma Biotech movers clarion -- the exclusive right to develop and commercialize that tests that identify certain proteins that can be found in cancers.
Breast cancer particulars of the stock isn't there last check -- -- about 19% -- these guys they jump in there.
He's got to be careful about this and you know I don't like to play the lottery tickets I was at those -- lottery tickets -- about textile mill farm.
Removals is all about his knowledge in and out of those guns that are scary in my best idea the it was a Human Genome Sciences.
But we were in and out of -- -- a few times but.
You know given out and it bounced back out of you got a few people who have sentiment that thanks a lot they actually bought it made a lot of money laugh yeah.
It's only got it.
So you -- -- that what that's what I liken them do this them don't going -- be -- as a team these three ideas the sort of completely against my normal stock picking.
-- because they're all under pressure.
And it they have and that's really turned the corner yet some -- things but this it's not it's -- are still this is one that.
The scrap -- you know they they they hate that that that's -- has been horrible but they did beat the last -- -- before that they had a string of misses.
But I'm thinking they might be turn a corner and it's got one to string a little bit above book value.
Which really compelling it's a short position that we want to short position to get also -- has so -- gets Islam Gooden is.
You can get and this is the momentum stock darling want to give us the momentum investors like the talent to this -- And it's interesting as you're seeing -- It even though they were mentioned at Goldman upgraded their talk enough steel prices are are starting to bottom out you're seeing a big movement move by the group.
To be adjusting to see you know if they.
You -- you -- see manufacturers are picking up yeah basically and that could be a plan that is.
Well yeah not from Goldman Sachs and all steel industry -- -- that's something to better health I mean it's like actually down a little bit of the gap a little higher.
It's think these are all players that are gonna I don't think they're trading ideas the next one is that he's its online China on line -- that I love those.
I love those Chinese -- -- -- actually speaking -- Chinese stocks I gave out on -- of sorts in the morning on last month on the twentieth.
-- What would Michael last week 100% one day and those are the type of companies -- -- -- Monsanto a lot of competition.
But it is -- if it's doing that again today -- -- it's it's you know this this is a big bill and this is.
-- in the world to your point this -- a good place the agriculture stuff it will come around.
There has pointed that out every year we have some five million extra people they have more money they -- you'd better.
The that they got ahead of themselves as -- -- about it but if you can buy these thoughts and put him away I think he'll do extremely well.
And they put this one is by doing that none that is all lined on line gaming play.
It's extremely volatile in the and the in the execution it's been inconsistent that's what hurts it hurts the stock.
I love the online space still there I've really you know but some Biden is one you mentioned people but they're afraid of a 400 dollar stock right course they were afraid of it -- -- was a 300 dollar stock into it because it's so expensive products and how well I loved ones should be double of the goes up by a 100% UW money -- -- -- -- years.
Of a three -- stock that you never you know that you can't get out that's the psychology.
I like that -- by the way I am already predicting a predicted -- many places -- an on again that the next revolution in China will come through the online community.
Why is it because it is just so this is so massive and so big in China really has had some trouble.
Trying to monitor are trying to tap down.
What goes on in these online communities it's massive it's huge they play more video games online and we do here currently still have -- by the -- How can revolution began if they -- mean they need regulation.
They need some fat as some sort of policing system while they haven't they know but it's just tough that the you know the more people you know on and it's tougher for the authorities that happened that I think that'd be.
The next revolution in China -- start through the online community there.
And finally Weatherford.
This might be in Oklahoma plant but it happened -- -- -- -- oil and gas equipment company.
You know -- like this area I think these stocks have -- they faired fairly poorly to be honest with you so far.
But again trading at just barely above book book value like the risk award.
If in fact the -- think would be good and so once for one can't Houston but it'd be an end detected at Texas -- if you're looking a bit.
The on the gas stocks so -- -- is saying is that.
Hold this country since these -- don't wanna hear that relate to traders and -- nannies -- that -- have you had 15% and that -- tomorrow right to cap off the table.
But that for the most part these are designed I think these are all stocks that are just really undervalued more than anything else.
And I like that I did that Texas ET again yeah.
-- is -- very business friendly state although if Perry wins reelection -- don't succeed hopefully it gets out.
That it it had to be careful that.
And I think he is gonna work well why to Robert's point would you buy Texas and just not -- You know the -- -- of the the excellent and does they have no business tax write.
And I think it's like -- -- -- -- that states like war but they're very business friendly.
They do a lot to -- in business and if you look there it seemed to make sense you get the 2% discount really to if you don't live there.
But I I just think that they do have that you look at what's happening in the south of the typically you know we talk about the alternative energy have you guys seen with the -- and I think it's Arkansas.
Two companies overseas opening up 100 million dollar -- when plants in Arkansas they had -- power which is going -- big deal in Texas when bill.
Being financed through strictly to Chinese banks won't point five billion it's gonna give energy of 303000.
It's amazing we're talk about putting all its money its alternative energy in the rest of the world is coming on our shores.
-- beat us at this -- Siemens is carrier Siemens if you will determine a company's yet Siemens and then they're opening up these large plants in there all picking itself to do this type of stuff I mean obviously.
You have the -- -- -- that goes up from Texas and North Dakota that's maybe where you wanna start but.
I just think those places are seen as more business friendly these things -- -- get a break but quickly what is it what triggered by.
I am hoping that it's just you know his stupidity that -- the regional -- that somehow Abu Dhabi comes to the rescue.
But I I don't wanna just be -- say that it's no big deal because we've said that about a lot of things including 23 years ago sub prime mortgages you know -- Thai -- who cares about the Thai -- you know.
Right so you ever heard evidence so.
It almost toppled our economy so.
We've got to be real careful with the surplus we have military to military operations and and United Arab Emirates we don't want any unrest there and but it's been a house of cards is smoke America's men went about things a song it was today it's it's gone from Disney World to dubious world.
And pretty much ever I think it was they that was over the four years ago.
And -- -- -- went over that I had a big contract with this company to do for.
Do research for them and find America stocks that was -- law compliant but they ran out of money so for me.
They have an elbow and it absolutely none of them all of -- -- a -- -- but.
Odd jobs get -- we got that and it's scary I don't know about I don't mind new bottom of the Ayatollah is -- -- by.
I know it doesn't go play.
You know what -- the first class pouch one.
That's miles I hope that that.
We'll be back don't get mad at me up.
-- gotta go.
OK we got it.
Focus now on the small businesses of the world because let's face it 80% of jobs come from the small businesses in this country is important that we focus and support on them.
And right now we -- going to do exactly that.
And we have focused our power that you feet.
Now I'm I'm a chick who wears heels 24/7 except when I am chasing children.
He has patents and and I get that your feet sometimes do hurt but you've put up with it for the love of well look.
See now that's founder of -- flower petals knows exactly what I'm talking about Tina welcome.
And tell us what you've created in the honor fashion well my whole career -- in fashion.
So -- know a little bit about the business and what I created is a product called foot pedals it's an entire collection.
Any type of cushion that will work to help make high -- more comfortable so where does that go.
This is our most famous product called ball -- -- commission tip toes.
The names -- say what they mean if you're on your tip toes you need to stick this in issue at the ball of the play.
And it and it alleviates pressure.
And it stops the foot from sliding forward.
And it all day just gives you that's -- -- comfort.
So good on the inside I'm sorry -- government has Nadal about his -- mind right now actually didn't want your feet right now know not how I got their minds away it goes on the -- -- years shared inside peace to get right to the issue at the ball of the -- doesn't fly it around a lot of times and in say it's only I've done so much three.
Search I've worked with the top manufacturers in the US -- We make this all here in the US are quality control -- really international a lot of people in the chip Morton and -- made in the US who is somehow all products made here -- also -- products are made in Ohio and the and it's been fabulous in fact in Ohio we just recently.
-- -- -- Foot -- -- by the mayor.
Because we've created so many jobs here in America that's very very young and -- have you guys created we've created about a hundred jobs.
In the past nine years and -- be done in the past year to view Hadley had layoffs and you've been holding steady with your employees.
We have not had one -- off.
We in fact hired three new people in 2009.
Okay Myrna Katz explained to -- the other products you have okay.
This is -- I work a lot with celebrities and high and stylists.
You always seek the penalty -- -- fashion Easton magazines.
What I did was created and stiletto stylists can't.
So this has.
A heel cushions -- -- -- folk cushion a -- stopper you know when you get brand issues in the super slippery I -- side and script.
Well why should we ruin our shoes when you can just stick this instant trend line and it preserves the soul out.
And then -- commissions which is our full -- insult that goes from the -- all the way to the ball before it.
And needs are fabulous for flats because flats don't give you any support at all.
So it really like cushions and -- and protects the issue I mean your -- and the issue.
And then heavenly heels goes at the back of the -- emotionally don't get blisters.
And strapping strips.
Again says the name -- -- at all that you put it on any type of the strap and help prevent the strap from hiding and and causing friction and leading red marks or blisters -- -- and at the but apart a little bit of a skeptic here and probably some of the guys available yet and -- these different from some of the there and souls that you see you know like it in my biblical she -- at all levels okay and mass market ones.
As a woman.
I created these products -- -- And I'm pretty sure that all of those products must have been created for -- it has there.
So dom but expect Anderson I don't work they do not work it's the worst possible application me putting any type of -- think about -- Oh I would love to put that on and make my let's see First Lady slimy swirling around inside and got away with gel inserts it happened exactly and on top of it the late Texas -- -- material which a lot of people have allergic reactions that -- act quickly tell us how sales have been I mean I would think.
People are trying to keep their shoes longer so you might actually be benefiting from that.
-- down in their -- -- they're making you know they're making over what they had maybe they -- -- once it was -- uncomfortable kind of went to the graveyard in the back of the closet.
This is a way to -- -- and refresher she award tomorrow.
But our business overall.
We've done -- -- and exactly at where we ended last year however the interesting part is I've learned so many lessons.
That were actually more profitable.
-- then we were last night laying on Campbell and would.
Not laid off -- -- sign you on the -- Foot pedals dot com the pedals that come Tina I'll dive thank you sound quality about the men's line only get -- -- yeah.
I think that the PS -- I like is that I have a pair that are sitting in my office that I don't -- -- that exactly okay will be -- are all for you.
Now if we're gonna go to break and we'll put -- in Roberts yeah.
And we'll be right back.
Welcome back yeah at the -- live this is now the beginning of our weeklong series on what you need to know about the hottest holiday toys this basically -- like -- an off holiday -- from this show.
And you'll know when -- leave what you need to buy and what you should stay the heck away from.
So we started off.
With my favorite new product with -- I'm not gonna buy it because I'm not sure.
Dan cost that's usually -- -- executive editor of PC magazine is here to talk about all the new readers out there.
Julian there's there are ton of them that are out there there's a lot that are being advertised.
I think you'll find there's not everything's being -- and actually available for sale yet.
But -- one of the most popular e-book readers out there -- though Barnes noble milk you know we've heard a lot of buzz about this.
And let's look like not going to be an elephant.
It's -- it's not available on me they are saying they're gonna ship products December 7 the people that are pre ordered it doesn't -- their pre orders totally sold out.
So if you're planning on going to a Barnes & Noble actually buying it you're likely going to be disappointed.
Insists it isn't -- or is this very poor and you know I think it's literally I mean this is a relatively new market and this actually happened with the first generation Kindle 2 that they were very hard again they're trying to make the holiday season.
The thing is is that Amazon has a head start here has -- available -- and ship it to you tomorrow.
Which is giving -- a big event.
Yeah I would imagine so -- you know and -- -- Tulsa -- of an opposing concert talk about the -- as we know -- the end they just demonstrated it recently and in there's been a lot of talk about it you know I've seen a demo I haven't actually got my hands on working on -- and know that when we don't have one here you know nobody does -- -- the technology -- -- -- not gotten access and yet.
But -- from what I see from the demo it's actually pretty nice device -- on these devices have essentially the same screen electronic ink display.
There's a lot different fusion I am looking at the three you can infiltrate hold the Maya coming whiteman the -- could be really great -- interested to see how it's distributed and Barnes & Noble stores.
-- because that's a great advantage that they have because they have all these readers that they can access.
But you know when they can get product available that means to -- okay so of hard choices you have first the Kindle first the Kindle this is -- you know the Kindle 2 of the most recent -- You know have -- -- that this is sort of the benchmark this is this is safe that.
My great place just showed up -- him.
Is actually my personal Kendall went dead Communists -- my birthday this summer.
And you know -- always -- reluctant to sort of commit because -- I test all the latest product I don't wanna like settle down with just one when I know something news coming up.
But I gotta tell -- I read more than I -- have because I have this -- Magazines books great infrastructure you pick a book you can download it in less than sixty seconds you don't miss -- pictures you can get pictures on this as well.
New pictures on this as well and including we have PC magazine on the Kindle.
So you can go through and see the pictures the products in the product reviews and all that you can get pictures.
Color is TK that is to come.
There's no color e-book reader on the market right now we're.
Who -- -- rumors meeting next year the right thing will be available -- -- how Mexicans are now the Kindle is 259.
Dollars and what else you got dust settles it got so he's actually been in the e-book reader market for longer than Amazon house.
But no -- -- it but they didn't do very telemarketing right.
On the -- two units out now they're hoping to have a third to be very much like the nook and the Kindle.
These have wireless modems in them so you can download books over the Internet and you just -- it you buy it it downloads automatically.
These e-book readers need to -- side loaded -- connecting to your computer and an extra stuff.
But it doesn't mean honestly once you get a loaded.
They work just the same and what I would I read out loud why -- that why wouldn't I want the wireless Sony also has a wireless version that should be available probably the same time in the case.
I'm okay how much -- saudis the Sony have got to -- through this is the PRS 600.
Thing interesting about this that and which actually really like is it's got to touch screen and I -- a camera here so you can.
-- your books just by touching it.
Just right now iPhone vs the Blackberry ask -- -- the one disadvantage with this particular models of by adding that touch screen.
The screen is a little bit harder to read has -- lost to -- assailant sizzle of it yet they what I mean it's a trade off you make I like the touch screen this isn't the best implementation.
This is 300 dollars.
And then finally the PRS 300 it's actually 200 dollars and -- -- this is like the paperback book equivalent.
It's super small too much smaller than the Kindle -- as you can see.
These it was a strange that's a downside it's a little bit of -- downside but once you get used to flipping through pages and what you used to reading that way.
Useful to the pages faster or can't question from you know -- This -- in Virginia saying -- what's the difference if you've got on a laptop and I just don't live there and read it while larger screen -- -- yet another device especially if you're traveling and you've got to stuff -- I think we are gonna see more hybrid devices in hybrid applications.
And I'm just launched a Kindle for the PCs he can actually read it by book on Kindle reader on your PC.
The main advantages -- But then I -- up an embedded in bed and read before Lester but what about the sharing issue -- know that's an issue with the Kindle.
We've got to be quick though the -- knows what it's a locked up system around its proprietary format.
You can share of the fight I would put up to five other candles so you can -- -- -- subscription share book among five of the candles at the note could be.
Unlimited yet okay.
-- -- that -- executive editor PC mag thank -- so much for being left flat top laptop ten mile and you don't I'll be here you know all right always.
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