Jan 20, 2016|
Full Show 1-20-16 by The Financial Exchange
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
Okay. I. This is the financial exchange we've Barry Armstrong. This routine through streets stay on top of breaking business news and learn how to manage your money to help you towards a more secure future and now broadcasting live from the insurer mentioned John John studios it's the financial exchange with your host. Barry Armstrong. Hi everybody welcome to the planet extreme Jack it up for the last five hours conducting research in preparation for our show today. I know many of your honor as I know many of you are taking losses on your investment portfolio. Chalk this ought to joins me on a date we are here. To help you that's what we're gonna do today our text number 68680. I know there's a lot of concerns many he made the mistake of looking forward a plan. And you're seeing yourself oh my gosh how much lower can go how much worse can things get. Well the answer is we can get a lot worse how much lower can oil go well I guess in theory chuck it could go down another 27 dollars a barrel. 46 maybe I would see it stopping somewhere around one dollar at the bottom but. Look a lot of people are concerned because the market always moves a lot more quickly on the way down and then it does on the way and eighteen this we see this in any type. Of correction or bear market that we have and I use the term bear market because Japan has now entered a bear market actually the Nikkei index year. Is now off 20%. From its highs we saw a high of 2000952. Hit last year we are now at 16416. On the Nikkei this is over in Japan and not the domestic markets but the Nikkei is now in a bear market action. Blood how far behind that are weak you know is it possible is it conceivable. That domestic markets could enter bear market treasury in the next thirty days. It is. It is and I don't I say this having you know looked at where we are in the S&P right now and I generally use the S&P aside instead of the doubt just because it's a much broader index 500 companies as opposed to thirty. And the S&P if you go back Q November 3 so about two and a half months ago right now the S&P was it 2109. And so in order to see a 20% correction from there. You're talking about the S&P going from 2109. Down to about 17100 which is about 7% where below where we are today. Okay. Problem with that let me tell you the problem if you look at the charts in the trading volumes at eighteen to one witches who were 1844 now. There is so much resistance at eighteen point. It's hard to imagine that we breakthrough eighteenth if we do then I guess it's Katy bar the orbit. You know as looking at some analysis it's working and it's difficult to conceive of going below eighteen when he yes please. Well I don't know it's I think it's a different market than it was when you talk but the last time we saw eighteen point is talking beginning of 2014 year about two years ago is the last time we saw. And while there is some resistance there I do think if we if we look at the S&P on a valuation basis saying look at how how we valued right. No cash and the S&P in terms of its forward earnings. Typically trades USA forward earnings Amy projected earnings for the next twelve months S&P typically trades right around 1515 point one times its forward earnings. Where we stand today. After all the movement that we've seen so far today down another couple percentage points here. The S&P. Is just below fifteen to it's a little below its historical average right now which a lot of people may say oval does that mean I just back the truck up and load up well. No because remember just like you can see bubbles on the high end you can see bubbles on the low wind as well in terms of investor sentiment and a little bit of panic out there and so while you do see a little bit of an under valuation in the market right now. You may continue to see this market correct here just wallets searches for a bottom. Okay here's a here's the challenge the track and I don't disagree what you're saying but I think you have to recognize. That the eagle on the recipe before we started trading today. My research indicates that the dividend yield on the yes and pretty used 2.3. Four. And the yield on the ten year treasury is one point 97 that's almost forty basis points swing. Between those two. It's extremely. Rare to first of all to see it at all okay to just to see the yield on the S and he. The greater than the yield on the ten year treasury is extremely than usual during the last fifty years. And to see it at this magnitude. And lets you thought they were going to be massive dividend cuts and I do think there will be giving cuts in the energy sector but if you thought that there are going to be. They're hitting cuts and technology and consumer discretionary consumer staples which I do not think they're going to be. Boy it's hard to justify. Having the open yes and he'd be greater. That return on tenure treachery. IE I agree in principle I think that war. The average investor out there right now to. To go win in. And look it's not to say that you don't use this as somewhat of a buying opportunity. But I think you still have to be very measured in this market with how you go about. Buying into it just because it is a market that really has not shown any stability yet any price level. Over the last three weeks now. Okay this is you're talking really this all started pretty much the high watermark in the last three weeks was the 29 of December so really. Just about exactly three weeks ago now in since then you know it's been a pretty consistent downward action in the markets and you have to be careful during those times and not saying. Don't use this as a buying opportunity but be measured you want to be you want to be cautious when you are buying in you don't wanna simply. Pick a name and say okay here's the one I'm going forward I'm doing it no matter what you want to be still doing research about what you're buying because a toll what we have seen in the the last three weeks is a significant flight to quality your big dividend payers and so forth have held up significantly better than the overall market. No doubt about it. Yes they happen and you know when you talk about bargains look at financial stocks they're trading with the forward price earnings ratio truck of twelve to one. Telecom trading at twelve to one. Basic materials fourteen to one industrials fourteen to one utilities fifteen to one. I mean I'm looking forward looking PE ratios and you know we're probably. Given the correction that we're going through today chuck we. Probably are in the fourteenth two at Munich. In terms of the the plot forward and yeah. And I border prior fourteen point nine it's right around 149 right now so historical averages in that fifteen to fifteen point one rain so. You can make the case that you're slightly undervalued but. If you look at charts how markets tend to move through these little dips I would be surprised if you see a little bit more of a slide here it's not to say don't buy in but by and with the expectation that it may get a little bit worse before it gets better for. Now 603 says oil at 2750. I'd just pull the trigger not as much as I wanted. Due to the market in general so it sounds like 603 taking your place making it measured dive into the market. For a way to raising a good point aside from the market technicals where is the health in the economy globally. And I'd say global old growth. Domestic growth I think we're probably looking here in the United States won and half to 2%. And I'd say globally what do we look at it two and a half to three truck. Two and a half to a three quarters may be it's it's going to be measured I was doing last night a little bit of Reading on China. And trying to lodge get a sense for their actual growth the best that I can. Seed just kind of look get a lot of people who actually get a good look at China on a daily basis while China the Chinese government's coming on saying oh we only contracted to six point 8% growth. Lot of people that are in the know are suggesting that that number is close to three to three and a half percent growth over in China. You know here's the question I have clearly the people disagree with me and they're selling their stocks and that's their privilege right because they use their money yet acted I could go on line with the click the button I could sell all my stocks like at summit client's stocks today. I'm not doing that chuck because I don't know where to go there's no safe haven I don't consider. One point 97%. On ten year treasury to be safe place to go I think people would be mad at bout that return over the next ten years. Well I also think. A lot of times and and I've said this before but the ability to simply go on line. And push the button to sell everything I think is one of the worst it's what it's it's a great feature because it gives you liquidity. But I got that liquidity can be over use some times and I give the comparison. To the housing market were back in 2008. OK if you owned a home. Back in 2008. 2009. You didn't simply say I'm going to go and sell this at the bottom of the market maybe didn't have equity you couldn't but if you did you didn't say. Well this seems like good time to sell my home and and and look for another one you said and you know what I've seen this before. I'm going to wait and I know that the housing market will come back and well I do your point chalk those people who bought homes. In 910 and eleven hole he smokes a paper that reportedly. Fifteen and sixty exactly and and look it's it's a scary time to consider buying anything but and and I'll be the first to admit. Anything about it look I bought some more apple last week at 97 it's at nine before today I realize I may lose a little bit more. In the short term. But I also believe that in the long run that company is going to have the cash flow in the product development to be able to do well and and when you look at stocks that you know when this is you know whether you're looking at tech stocks what you're looking at telecoms what do you mean energy. If you look at the different companies that you know out there and say look I know this company may have a tough. 369. Or even twelve months because you could be a difficult full year here we don't know necessarily. But you have to look at it in the long term and say am I still getting good pricing for what I want overall. And that's the question you ask yourself. Up next we'll be joined by all of her Redick from Bloomberg he's gonna give us the economic data that broke this morning India's perspective on the markets in terms of pricing. Do we need capitulation would love to hear from you our text number is 68680. You're listening to the financial exchange from the insurer match dot com studios. Well you were. Keeping you up to date on all the latest market trends it's a financial exchange on the financial exchange radio network. If you're thinking about retirement soon it's time to make some big decisions do you know if you should roll over your employer sponsored retirement plan to an IRA how about changing investments to an income focused portfolio you know win the optimal time to collect her Social Security news do you know the five things you need to be aware of about long term care insurance before you buy it there's so much to consider before you stop working and we put together a 2016 retirement guide that can help and it's yours by calling 803934001. You've worked your whole life saving towards retirement doesn't make sense to get professional advice to make it last 803934001. That's 803934001. That number again 803934001. 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We sure are could you help us out with the the market stats this morning in terms of economic news I know we had. Housing starts and inflation data. Yeah special housing surge came in a little bit below expectations. Is not a giant mess. You had inflation that would love also a little bit below expectations and I think it just sort of reaffirms what a lot of killed suspected a lot of people can been concerned about. Which is that it's a soft commodities and growth concerns around the world. You know having material facts in the in the price of goods coming neutral accent. Aren't on the demand side of the equation so people now start to question in order not to it's commodities which has been driven by a little largely. Is it and more than just a supply story more than just you want coming from you that's production of the more. You know companies or other countries around the world not not to many as much growing slower. And what's interesting about it is. It's anything terribly you know it's not terribly new here but the the fact of the matter is we haven't said that. The winter and in December they decided to read interest rates I think a lot of people have got a lot of ping this morning. Folks saying look that would describe the state. If they cut on the next meeting I've been you know I would be surprised if they did that but the point is that people are starting to. Think it may be it was a bit premature in the sense that they were the better off going earlier than they missed the boat now. Well it Arab and all of all RT your point. I mean when I looked at the inflation data came out this morning great you've got hurt the Atlanta Atlanta Fed's telling us that GDP growth in Q4 was half a percent. And then when you factory in food and energy. Last month we had deeply rate and the Fed likes to look at that number about it but I I look at in place so. How can the Fed possibly justify. Raising interest rates when were on the verge of a recession. And you've got deflation. When you look at sepia. Right so I mean that's kind of been that kind of in the debate that's what has concerned people. You know they would have been better off going at a time to strengthen. In the economy strengthen in market. But they went in the time in which things are a little bit more. Still fragile looking largely it is that would. Would would be would contend they were not on the verge of a recession. We're certainly on the verge of now kind of deep closing in on. I'm bear market territory in US you know on US equities that equities around the world here's what you know global. Index and if you look at some of the moves of inspectors to look what happens some of the region that briefed into the areas. It does seem to indicate that there may be investor better. You know kind of thinking it's. Maybe it was a very it was a bit premature and I think the one of the other issues here's you have a lot of naysayers throughout Q either. Between pointed toward their policy is completing out surprises and but to destroy people's outcome of the worst fear where if you house. A big sell like this following. You know that the that actually going. So you see this session raising rates and start down you know 13% off behind. 10% this year and and the Serbs say OK your theory goes is this is the correction needed to get price not playing normal. So whether or not that the key to beating there has to be the sort of re pricing. So it's been you know perhaps it has a further ways to go but a lot of people I think that's coming spooking them because they see no doubt that backstop period things currently can't. And the problem. Allred taking a look at the overall global picture as well as inside the US. Are there any potential. Green shoots here that it could cervical lifeline here if you look at the US economy the last five or six years prior to 2015. The energy sector had been a huge boon in was an area that was growing quickly and supporting the US economy is there anything similar either in the US or globally there could be a backstop. Well I mean I think this largely. The economic sort of that that the strength in the US seething even though there obviously your point of weakness here the people becoming more attuned to our recently. Largely in you know we're still still sort of the best the best possible blocker is that like to say it. It's try to. Sort of saying but it is still true the diffused into the US is still. You know is that the best I can and that economic conditions and in Connecticut potentially. You know pistols so constrained to the US an improvement from an accused respect from investing perspective. There's still a lot of perform managed a lot of our commanders and out there that have been waiting for. A period in which do little to more diversification diversification stock returns they didn't and I companies that are innovative that dateline companies. Billick metrics that are beating earnings that are sort of changes the landscape printer industry providing opportunity. But even that we see is kind of falling apart or discretionary companies and and a lot of the sort of retail type companies and fall off the yourself. In a world such as human emerges because the other re consistent you to leave them pretty well there telecoms companies dividend cut at the thing. It has been a good year for dividend payers how I look at it my yadda Bloomberg monitor right in and I'm trying to. If figure out how Blake defined capitulation. Because that is way and you know we capitulated in march of 2009. And there were a lot of indications that red capitulated how do we know today because they're still seems to be a lot of people saying. It if there's still a lot of people who were bull. Routers blue satellite use by Bloomberg tools to define capitulation. But it really good question and I think there're period some sort of metrics a look at there. I was hearing from queens and some of those mornings resources and that's and it sank in what so what's called Pixar we haven't had a big should've been in the fixed that to be had in previous soft. And organ a little bit of the bounced their two day but still took particular point nine until yesterday either really shoot up to look a little that we saw. In previous market rout I have to think that perhaps. In other could build a further to go here. So there's some people that kind of that's kind of capitulation if there's huge business huge content in in the volatility gauge the other way and means just kind of looking at. The bullish bearish sentiment you can look at strategist tables and he. You know where they're cutting has an interest income estimates cut this year but it's still nothing drastic it's been largely. Armed and largely people's thinking going up 7% this you're only going to be up 3% of 4%. And that's pretty typical it's pretty standard by a strategist. Standard is just still be bullish but the fact that some people are starting to revisit their estimate states I earnings are going to be heard all the more than we expected roster really bad start here. And that's kind of one way but we're certainly not seeing that played by any means yet there's still plenty of balls up there and they'll probably be virtually cut 20% on market mr. cute. You know very market on the hand. Very good target Oliver as always we sure appreciate your participation. Program thank you thank you. Chuck 603 asking when can we more. I hope not anytime soon I'll tell you objected and if I could do more to do more damage than good to. Q we in the long run is it very very dangerous policy have talked about it before that I think it causes a lot of long term harm despite the fact that it temporarily boost asset prices. I liken it chew up pretty much the cocaine. Of financial markets and I don't think that it is a a very good thing to be doing it makes you feel good for a little bit but wears off and you got to do more doesn't it's not a good recipe for long term success. The stock market is moving rapidly were taking a look at Netflix when we return to the financial exchange from the insurer match dot com studios. Making your Smartphone even smarter. Don't know mobile lab by surging financial exchange show in nineteen Jordan who can play in store this is the financial exchange radio network. 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Principal and interest guaranteed as long as you hold your contract troubling to me guarantee period guarantees are backed by the claims paying ability of the insurance company. The financial exchanges aren't. Twitter follow me right now fact he has been show this is the financial exchange on the financial exchange radio network. Well it got easy trivia. Today here's the problem. The young lady who selects. Our trivia questions wasn't even alive. When this guy was present I guess what we're back up the ones if you want. As a fact neither were you alive with this gentleman was inaugurated as president I'm not I'm not true. There's a lot of second time. Santa if it. We play trivia every day here on the financial exchange or text number is 68680. Which president was a former western movie actor prior to being the president of the United States I told it was going to be easy trivia today. 68680. Is or text number first listener with the correct answer will win a prize Netflix shares down seven and a half percent. And they reported pretty strong results last night is a miracle to. Yeah they did there they're getting whacked today I think partly just do choose the overall sell off in the NASDAQ I think just being dragged down with a lot of those other tech names but. When we take a look at their earnings report from last night they added more subscribers than the than people expect to hear that. Added five point 59 million subscribers for the quarter compared to their projection. Of five point 15 million in there almost at 75 million total subscribers right now. So they're growing right now in about a twenty point 5% annualized pace what I think concerns. Some people out there is the fact that it domestically when we look at the growth that's happening inside the US. There isn't a ton and in a much speed their reaching a market saturation now. I think that could be a via very legitimate problem for them because they have right now. 45 million subscriptions inside the US but yeah. Keep in mind that for every subscription. There could be 2345. Different people using them depending on the exact subscription there so. If you've got 45 million subscriptions but three people are using every one you've got a 150 million people there. Look there's always so many people that want to watch Netflix actually. Well trucking it to that point you have apple TV yes you find yourself using Netflix you find yourself using Amazon this very easy for you. Do you find yourself using Hulu or any of these other subscription sites that are available or use still do you see yourself using their corporate anyway. Is she using mostly net. I'd say we're probably about 7580%. Netflix right now I'm not a who member myself so I don't have. Don't have access there an Amazon believe they're not just because of the ongoing. Clash between Amazon and apple Amazon does not have a native app on on the apple TV right now. While while that's that hurts them but not not that that many people are using apple TV that has not been widely adopted right. I'd ever seen they haven't broken out any numbers there so I don't know exactly how many people have it. I can tell you while my family pretty much you know you go cross a lot of baht cousins and aunts and uncles and so forth one of us do but I think it is something that hasn't been widely adopted because I think the one problem Apple's had with that they've done a terrible job I think it marketing what it actually is until recently a lot of peoples of all why would I want a TV made by apple. But that's not what it is and I think they're finally getting better at marketing at an explaining what it is to people because I can tell you again a lot of the times. I go home and and we don't even touch the actual TV at this point we're just watching. Netflix or something on apple TV right now. Chuck what she with how much you paying for your Netflix. Two but that the that I got to go back and check them guessing probably 899. Let your Uga had a for awhile haven't. Yeah and I'd its human being eight dollars and 799 they could react brings the reason I bring this up is. He they've raised their prices a couple years ago but they grandfathered. Older users like you now on the recent subscriber to. Netflix I think I actually paid twelve dollars a month animal out for users. You're paying 799 month that you're allowed to users but those rates are going up. In me so you're gonna go up by a 25% you're gonna go from eight dollars a month to ten dollars a month. Do they have enough pricing power to validate that duties will people drop their Netflix because the 25% rating. Trees now not for is he's he's a 25% to two dollars a month no. I can't I mean look there will be some people that do that sale raised the price on me and it slammed the phone down and whatever. But I think for the most part. Not is next two dollars a month that's the good value when you start getting up I think if you start talking about getting into the fifteen to twenty dollar range. I think you left issues when you get to that point. But going from mach eight bucks to ten. I don't think he is something that can cause they may lose you know a 100000 subscribers but in a company of that has 75 million subscriptions. Who's point 1% over it it's still a net win for them because they're bumping revenue by 20%. Wonder who comes and says we'll look for five dollars you know. I don't know who is going to lie if they have the the pricing power on the on the side of buying content to be able to do that profitably. You know the differences struck they produce a lot of their own content you know because it's owned by CBS and all this. It all all the major. Syndication its own Hulu. So they've got a lot more natural content then Netflix does he know Netflix put a lot of money into content creation. But it is not there have nearly as much natural content or previously own continent as the two specialists say you know it's just that I thought. Pay I wanna mention something for those of you who are lay and lords. Leader bank has a program called see rent in you don't have to make any more trips to the bank wouldn't it be nice to kind of sit out the winter and go to Florida. And collect your rent electronically with Betsy can do if your leader bank customer and you have to see rent. They will electronically. Collect the rent that is owed to you from your tenants it'll be deposited to your. Real estate checkbook and then you can you know. Live your life remotely if you so desire. He rent is a wonderful program who want to learn more about it it's easy rent dot com or you can call them if you're curious about it if you have questions that I haven't answered in the past. All the bowl free at 877. 6917900. That's 8776917900. This is a program exclusively made. By leader bank and it is designed to assist landlords in the collection of their rent on electronic basis. It's free brawl leader bank customers their phone number again 8776917900. Chuck we've talked about this company in the past it's called this Afghan. And be happy they had a problem because. Some of the people in their trial. Had a blood illness and they died taking this after until I was after and creates a drug that it's a drug company out of on new England and they created drug that is very helpful evidently in terms of weight loss it it is stymied your appetite. And just what supposedly helps you avoid binge eating. Yeah well it's this is gored the treatment of a very specific disease called Prater Willy syndrome. And specifically the disease essentially causes people who have it. To not be able to regulate their eating they essentially don't realize when they are full and so the drug was attempting. To mitigate this this process in essentially. Beat you know allow people's bodies to tell them when they are essentially full. And the problem is that a lot of people with this syndrome apparently. Have a condition. That results in blood clotting to begin with us significantly higher. Then in his significantly higher amount. People then the general population and the problem is couple patients that were taking this drug in trials. Did have blood clots and indeed unfortunately. Died during those trials and they're trying to figure out if it was because of the drug or just because of the naturally occurring. Pro partner predisposition. To blood costs so they're trying to figure this out they have them at the chief executive Thomas used had said. That there were some very good results on the drug in terms of managing weight and weight loss and they're trying to get the trial restarted right now. But it remains to be seen if they're actually going to just as they they really don't know if the drug at this point had had caused any of the calling each. Yet the truck lead the market is telling us that it is gonna get a group as the market selling off very you have that doubt down close to 400 points. And this stock is up four dollars. Or 74%. Right so somebody knows somebody on this stocks after the shares. Symbol is CFG. And in and day where the market is selling off their share prices up. Four dollars and eighteen cents or 75%. A lot of movement lot of trading volume two to. Keep in mind though that when now when this drug was in trials through early October. It was trading around just shy of forty dollars a share so there's still a significant discount to when the trials were just going on just because I think one way or another there are still significant questions here. But it is I think you know with this with this statement coming out. It's a sign that maybe things are getting back on course but a lot of questions still remain with that 75% discount. Right trade. Now we know chuck that you have ventured back into it chipotle my friend Clinton on FaceBook wants to know Tucker has gone back into chipotle I have not but I plan on doing so soon I think. Is it out of fear Tucker or is it just not been convenient for Utica. I think it's more out of fear I just kind of one of them to you know get everything cleaned up and yeah and then have whenever feel comfortable grow back. I mean now that checks checks Ben big. Influence on me so it will go backs him. I've built up a a resistance to anything that was there so I'm kinda. It's kind of a herd immunity thing that we were going for here ha ha ha I'm gonna get I'm gonna end up in the caller probably but. Hello now chuck the chipotle. Is closing all of the restaurants on every need. From 11 AM until 3 PM. And then. I read something if they're gonna. Give free food Italy you're reading about that did you hear anything on the rumor mill about chipotle you totally free food distant in order to inspire people to come back in the stores I did. Not IA if they are giving away free food I would out of here we go look at this actually do have something here. They're doing it now it's not gonna be on the eighth it appears they're giving away some different things they are let's see we are they giving away potentially some free scoops of block they're giving a welcome there. They've given away a couple free burritos here and there so the lesson and they're doing and had I known this may be a would have negotiated a better deal when Allen back in there. Now another company called fresh out that never been into a fresh you familiar with them I never heard of them have you talk no I haven't either. This is me that's not. They must not be around here but fresh he is a competitor. To Tripoli but they're not evidently in the New England markets. But what they're doing. Is they're saying on February 8 win chipotle is closed the money and try fresh he it will be a 50% discount so brilliant marketing their their their. Backing on the trip. Art believe it or not I didn't know this and this shows just how out of touch am I guess with the the food seen these days they're actually three in Boston. Really there are three in Boston there's one downtown right on it looks like. High street there's another one on Dartmouth street in the back bay and there's one on iron street down in the seaport not. Try a field trip given a shot yeah I do think that February if LB there for half price food I am I am a 100% on board. 100% of a given a shot I'll report back on on that Monday. Very good. Up next we'll be joined by Dan Werner from Morningstar he's going to be talking to chuck about three different stocks. That's next on the financial exchange from the insurer match dot com studios. So it's fast and generating income. Listened and learned about the economic realities that face you and your family it's a financial exchange on the financial exchange radio network. The statin NASA protection claiming can be overwhelming. Gritty start and how do you know what type of trust is right for you the law firm of Cushing and Dolan has been creating a state plans for folks in New England for more than thirty years and they can help you too with all the different types of trusts available it's understandable that there can be confusion when it comes to a state planning. Do you need irreparable trust do you need an irrevocable trust if you don't know the difference you need some expert advice and they put together a free guide that will help you decide the best plan for you and your family you can receive this free guide the differences between rebel double and a reputable trusts by calling 8668485699. They can even show you how it's possible to eliminate your state Texas while at the same time protecting your assets from creditors and long term care expenses call right now to get this free guide at 8668485699. The number again is 866848569. Million that's 8668485699. El Nino is ramping up to hit the northeast hard again are you prepared for another long winter if not the need to call ensure a match so they can help make sure you are there are offering a free winter preparation guy that will help you take the necessary steps to lower your risk of damage this winter the easiest way to get this guy just to visit winter insurance guy dot com that's winter insurance guide dot com you get tips in checklist to help you manage your risk and lower your chances of having to file a claim against your homeowner's insurance which could increase your premiums or potentially have you dropped by your carrier. This free guide will include important reminders of protection to consider for your home and car including changes you may need to make your policy to be best prepared to winter weather will be here before you know it so don't go away visit winter insurance guy dot com and download your free guide today let your friends and ensure a match help prepare you for the winter ahead. Go to winter insurance guy dot com that's winter insurance guy. Dot com. Perry are strong here and we're joined by G-8 to the vice president at leader bank and were talking about Small Business Administration well this is a very important topic because lending season this year you wanna be ready wanted to expand your business leader bank has capital to lend out. And we're gonna talk about what they're doing and what they're making available to consumers paid OJ. Great Barry thanks for having me that we SBA loans that small does it mean certainly it optic. About right now great looking use the money for you can music really or eighty b.s need dad will help your business. And new trucks improve new products new. Equipment and remodeling re modeling you know expanding in new law computer computers servers whatever may be seeking and he uses this line of credit sure is pork and read but it could do credit yeah absolutely and we spent a lot of professional service firms it would have a line of credit because maybe lowering we'd sure. Cash flow payroll etc. all. We're properties a special rate at three point 99%. Fixed rate warriors there's no closing costs with bones a 150000. Dollars you minimum credit score of 700 from an application processor is a very quake we will give you were borrowed within ten days completed. An ending and we've had a lot of success with it and most importantly we've got a lot of small businesses and way more people and grow their business good deal. Folks if you're interested leader bank has SBA term loan and it has an interest rate on three point 99% in fixed or four years and four year amber to station the minimum credit score is 700 in ordered all like called leader at 8776917. B 908776917900. You can go to their website which is meter Banca cop but it's easier just call and talk to a human being 776917900. Market updates come your way right here it's a financial exchange in the financially James radio network. It and it's. Well the correct answer to our lust for big question was Ronald Reagan used a movie actor and host of the television show Death Valley Days who's the winner of that trivia. The winner on that we have quite a few people with the right answer no surprise there rob. From Gorham Maine did have the answer first and he takes home a mug remember you don't get the answer first you don't get anything so. Or move over to do a little bit a stock talk here and we're joined by Dan Werner for Morningstar. And Dan thanks for joining us. I. Then you're we have a couple of financial companies here on a you know week where a lot of financials have been beaten up to start this year actually and valuations look pretty cheap there. Talk to us about I guess first off Sigourney financial what exactly do you look at in this company. Will we look at the value proposition I think any financial Tikrit financial by the way is the former GE consumer capital corporation. Aid. If you cards for a lot of retailers circuit underwriter for lottery terrorist so you get a Toys 'R' Us card a Lowe's card and GAAP Wal-Mart. Stands club any of those. Is usually letter written by secret and it's very that's very granular. Politico they're not they're not it'll give big credit lines like the big card companies do and don't give. 1005 doesn't it Jews got up. 500 to a thousand dollar based dollar basis for for quite. And I think we like it. What we like it because he. The the returns are are very good because the you know they're charging twenty. Percent yield. Their their lots rates are fairly manageable and fairly sustainable. Use about 5% year on the long term average. And even during the crisis you would think that they would have lost money they didn't even with 9% charge up. Levels at that point they still didn't lose money. An and we're still it's far as what we can model they've. Charge off levels after each 10% Portland that the start to lose money so they've their very. The company's very merchant currently in that you know that these card holders. Go back to the retailers multiple times has. They're up able to offer to the the restorative offer discounts and the Brito to mourn happy days QB cards to him because they get a payback from. Secretly in a retailer share agreement. The assuming that the read certain performed levels in terms of you know limited loss rates. Income that they got from that retort for that particular year and it's basically about value proposition for both the retailer in the consumer. Then what about when we look at PNC as well as TD both up more traditional banks here. What are some of the up pros and cons of each of those. I think the pros were both at PNC beard very very good with their cost controls on the over the last few past couple years they've they've. That they've they've reduced expenses and basically reinvest those expenses and to. Our technology and bridge closing in and Brent Tressel patient on as eight with the acquisition of the old. Royal bank Canada franchise in the southeast a few years ago they're still benefiting from. Strong regret strong B revenue growth there as well. Ed and ten point three times earnings. Margin to start the turn here I know there are some question about whether this has gonna continue with the the rate increases here given what the market's done. But that we really don't see my. Up of what we spoke margin increased the last quarter. The the defense fund rate with an increased until December so hopefully it will depend upon their and as with most banks there assistance that with so with every. Bit increase will you hope we will that better margins and with TD. I think the effect at its Canadian. I think has been B is what's been beaten out of their boat and oil is very little impact at least amongst the Canadian bank. There it I think that concerns about Canadian housing. I'm tracked it and I I would agree that there's probably some overvaluation there but I don't see with the calluses to. Two to blow that up especially given that the Bank of Canada the government. The bank a candidate is considering lowering. The benchmark rate this point. And plus they have the largest US franchise among the Canadians so generally the US's. Viewed more favorably if for potential GDP growth and we we think it's TDs gonna. Be a big beneficiary of that especially given the debt market that's in the northeast. Berger will then I appreciate you joining us today. Right thank you Dan order for Morningstar if you wanna take a look at those on your own Sigourney financial has the ticker SYF. PNC has the tickle ticker PNC. And TD has that ticker TD thank you. We can do we can change it to tickle but it tackles probably better now. Actually understand that and that they like this you need anything to get you through right. Australia. Hit markets taking eight PG absolute beating down 425. Points on the Dow the opening up its goal pulled up more than 1% at 1101 and outs you've been listening to the financial exchange. From the insurer match dot com studios. The statin NASA protection claiming can be overwhelming. Where do you start and how do you know what type of trust is right for you the law firm of Cushing in Dolan has been creating a state plans for folks in New England for more than thirty years and they can help you -- with all the different types of trusts available it's understandable that there can be confusion when it comes to a state planning do you need irreparable trust do you need an irrevocable trust if you don't know the difference you need some expert advice and they put together a free guide that will help you decide the best plan for you in your family you can receive this free guide the differences between rebel rebel and irrevocable trusts by calling 8668485699. They can even show you how it's possible to eliminate your state Texas -- the same time protecting your RSS from creditors and long term care expenses call right now to get this free guide at 8668485699. That number again is 866848569. Million that's 866848. 5699. Mortgage rates are still at an all time low and it makes sense to take advantage of these rates when you're refinancing or buying a new -- leader bank is a local bank that is one of the largest mortgage lenders in New England with very competitive rates ask their experienced staff about mortgage financing options and get a very competitive -- term fixed rate for your home whether refinancing or buying a new home work with leader bank calling 776917900. Or -- leader bench dot com leader bank -- over one billion dollars last year to homeowners in the Commonwealth of Massachusetts -- the true experts in mortgage financing deal with -- local bank today and call 8776917900. Or email us and loans at leader -- -- -- visit leader bank for all your home buying or refinancing needs 8776917900. That's 8776917908776917. -- 900 or visit leader banks dot com member Jesse equal housing lender. L meeting. Though is ramping up to hit the northeast hard again are you prepared for another long winter if not the need to go insure a match so they can help make sure you are they're offering a free winter preparation guide to help you take the necessary steps to lower your risk of damage this winter the easiest way to get this guy used to visit winter insurance guy does come that's winter insurance guide dot com you get tips and checklist to help you manage your wrist and lower your chances of having to file a claim against your homeowner's insurance which could increase your premiums or potentially have you dropped by your carrier. This free guide will include important reminders of protection to consider for your home and car including changes you may need to make your policy to be best prepared for winter weather will be here before you know it so don't delay isn't winter insurance guy dot com and download your free guide today let your friends and ensure a match help prepare you for the winter ahead. Go to winter insurance guide dot com that's winter insurance guys do. And they want it to convert that trust two and durable global trust for the purpose of protecting their assets from the high cost of nursing home what's involved in that process. You know we get that question a lot a lot of you have done your planning in the past you don't 1015 years ago might be saying you know what I need a refresher. Maybe it's time to switch from the revote cobol when I was younger to and vocal so that I can protect it when I'm older and oftentimes come in and say you know what can just you know white out that word revoke a bullet just. Put the word irrevocable right in there and that should be really inexpensive. Well folks I have to tell you that is not what you wanna do that is any recipe for disaster what irrevocable trust is gonna have its own tax identification number it wears a ripple Coble will not that it is very true yeah have a separate tax ID number four but more importantly than that the guts of the document are entirely different. In the guts of a document of a revote global trust in fact I've seen case after case where people get into trouble. Where that's what they do they try to modify. Or amend some way their revoke of trust. In the when the time comes in they needed when they go into the nursing home they get denied. And they say the assets in the trust accountable you don't want that please don't be penny wise pound foolish on this one trip with a lawyer and learn how to draft a new irrevocable truck. For yourself make the call folks Cushing and Dolan is offering you free guide that explains all of the pertinent. Points the differences between revoke a -- and durable global trusts the phone number 8668485699. That's 8668485699. Learn the difference between a living or revoke global trust. And and durable global trust that will protect your assets from Medicaid 86684856998668485699. Hi I'm at a London and appear worried about your parent Carol Loveland living alone like I was. And you are reliable senior care information. And call a place for mom. The nation's largest senior living referral service you'll get free information on assisted living and alzheimer's care nursing homes. Even important financial information. They had obviously researched every place not just given me names. They found me a place for which she could afford and it was magnificent. We're now very confident that she's safe and they just helped every step of who. Can't thank them. So if you're struggling to find reliable senior living information call plays for mom this is a free service and you can trust them to help. If you are struggling to find reliable senior living information for your mom or dad didn't call or go online to get the free help you need during this turbulent time call now 804677530. 804677530. Pat Boone here with a word about banks' safety you think your money in the bank is safe. Don't bank on it but generation ago bank account felt secure and they paid interest this encouraged the virtue of thrift. Saving but the day. Bank accounts paid virtually nothing. And that shifted from lower risk to high risk for example did you know your money deposited in most US banks could be subject to limited withdrawal. And even confiscated by existing executive orders or be here that's. And that's just the first of nineteen risks explained in a new 32 page white paper entitled don't bank on it. Still think you're bank deposits so they. Yet this vital new white paper now. Call toll free 8051960. To 71 that's 8051960. To 71 hi this is very Armstrong and if you own rental property you're gonna wanna hear about this exclusive program offered by -- bank it's called -- rent and it's designed specifically to help landlords receive and deposit their rent checks electronically as opposed to having to wait for the mail call leader bank right now if you're interested in -- -- the number is 8776917900. That's 8776917900. This program will automatically deposit your rent checks into your account and we'll help you avoid the hassle of waiting to get a check many landlords are suggesting that -- sign up -- zero and upon the execution of their -- and why wouldn't you wanna do that once it's set -- you never have to make another change during the lease period -- rent is a free service if you have an account with -- bank and if not it will simply cost -- small monthly -- -- -- bank right now at 8776917. To 900 that's 8776917900. Or go to -- red dot com for more information member FDIC. Find your favorite news photos and sports updates on your phone when HP mobile from the Associated Press AP mobile where the news gets its news. I. This is the plane then she'll exchange we Barry Armstrong. Wall Street to first street stay on top of breaking business news and learn how to manage your money to help you towards a more secure future and now broadcasting live from the insurer mention John John studios it's the financial exchange with your host. Barry Armstrong yeah. Hi everybody welcome to the fighting to exchange carrier drawn in trucks auto with you here on days that we'd all rather skip. Rather forget but we did. The Dow is down more than 400 points ten year treasuries at one point 96%. A repeat. One point 96%. On the ten year treasury euros at one on nine. S and the team 28 moments ago chuck I saw the S&P. At 1825. And seconds ago I stopped oil under a repeat this under 27 dollars or. Yeah and this is the continued slide slide of oil here I think is something that is you know just as much the market. On the continuing to move everything down here you do now have oil at 2698. Down 5% today down a dollar fifty. Brent crude at 2765. Still a little bit higher there. But US markets now down. Over two and a half percent in every one of the major indices here. And it's a pretty broad based sell off to me talk about you know what is up today I will go and I'll pull the list of S&P companies that are up. But I would imagine on a day like this you probably talking about somewhere between ten and fifteen out of the 500 S&P companies in positive territory. Maybe it's the if it's a date win. There's no place to hide accurate equities because people are selling off things even if they don't want to sell them. They're selling them off to perhaps meet margin calls or they're just saying you know what I'm gonna sell my index fund which triggers the sale of lots of stocks though. The the only thing and I'm not telling you what to do away I've I wanna make sure people understand I'm not giving you advice here the only question raises. You know you're selling today. One Wendy noted get back to an end to what you gonna do with the money when you so we agree that you'd just years you'll probably signal loss. It and would you need that money. For using it to paper wedding and using it for down payment on the house I like I don't understand. The rationale. Of selling things. It because of the short term loss but that's just me. And and and I think it speaks to two different issues there the first is. Look if you liked values applies an example despite obviously Apple's been hammered and a lot of awful awful lot of people out. After all you go back about six months ago was trading at a 134 dollars a share. Now OK and there's an awful lot of people that bought an apple anywhere between 134120. Wherever may have been. So the question is if you bought it and liked the company at 120 and when I say like the company I mean you like to they actually did. Then why do you not only at 93 like it is today because if you like to that one come at 120 in what they were doing you should absolutely love it. At this price the problem is that people I think in a lot of cases they buy a company. And they do it. Now because they've done research and say oh I really I like what they're doing with this product or that product they buy it because they say. Well done well and and that's why wanna by and I wanna buy it because I think it's going to do well well. It's not always going to do well and I say this is someone who has taken a bath on apple and I say this is someone who understands that but. The other thing I think that's important to remember is when you talk about oval do you need that money for a wedding do you need it for a down payment. Any money that you need over the next generally one to three years you don't want anywhere near the stock market because you can have stuff like this happen and all of a sudden. You know 20000 dollars that you had put aside for a wedding becomes 151000 dollars and you're sitting there saying now what do why do. And it's it's difficult it is but you know you a lot of people looked at what they were getting on bank returns and they said. And getting nothing on this I have a wedding coming up in a couple years. Output this just in the market just for a little bit just to get something wolf it's only a couple years you really can't go into equities which one or two year money. Has to be in either cash or very safe bonds that's what you need to be looking at there. You only use the stock market for a longer term investment. Ari on this day in the year 1981. Ronald Reagan. Was inaugurated as president of the United States who were doing trivia today related to Ronald Reagan. Despite considering himself a west car which state was Ronald Reagan actually born and raised you know the answer to that question you can text us at 6680. Which state was Ronald Reagan born and raised in you know the answer Texas against X 8680. Texas attorney general. Says that fantasy sports are illegal. Gambling but he's of course truck taking aim at the end tool and draft kings. This is no not news to drafting there they're being accused in many states as operating an illegal gambling. Yet drafting came out after this and said that the that Paxton ruling was predicated on a fundamental misunderstanding. Of daily fantasy sports. My view of overall has always been that I think that you should have legalized gambling anyways because otherwise you're just driving it underground and your putting it in the hands people who don't necessarily want controlling it. Ali marijuana and drugs yeah it's if it's it's no different really so. For my point of view I think that all of these should be legal to begin with I am not. Familiar with the state of Texas and what their laws are specifically regarding gambling so I can't go into more detail there. But clearly trappings and fan you'll have another battle. With a state attorney general here that they're gonna have to deal with and this one is shaping up I think to be more similar to what we're seeing in New York. Then what we're seeing in Massachusetts. Ultimately this is gonna end up in federal court would think no doubt about it no doubt of and it's that the thing is if you if you're drafting you figure it's gonna take a couple years to get there at least so hopefully just get an injunction on the ruling and you can at least. Continue to operate your business over the next year to. But it's you know you gotta figure at some point the legal fees just to deal with all these states they they don't start mounting at some level right. Yup they do end you know be the other thing to remember though is that. They like Cooper are going to be able to bring a lot of political pressure in the states you know draft kings had 600000 customers. In in New York State I don't know how many scandal had that that that's a lot of voters and that's a lot of influence that they are going to be able to manipulate. Cooper has been a master of manipulation. In terms of you know being able to put pressure on politicians to allow their service to continue. It would be curious to see you draft kings had similar success I don't know that it will certainly. Not confident that I wanna talk about some stats as a relates to drive. Turns out chuck that young people are not driving. Nearly as much as the used to a published a study published this week but the University of Michigan reports sharp decline over the past two decades. Among people under 25 of years of age getting your driver's licenses. I don't know about you but it was weeks within when I turned sixteen. That I got my driver's license how long did you wait and Tucker how long did you wait to get your driver's licenses after you turned sixteen. I was pretty much quickly on on board as quickly as he could be the same desk stresses I could I get a license and and now. Listen to this. Among the surveys notable statistics 77%. Of people between the ages of 20/20. Four. Were licensed to operate a vehicle in 2014. That's down from 80%. In 2011 and 92%. In 1983. To think about that. 20/20 four year old age group of only 77% of people have a license in 1983 is 92%. Less than a quarter of sixteen year old to have their driver's licenses today that's down from 46%. In 1983. Yeah any naked people just. It purity is eight years that there's so much public transportation people in cities like New York Philadelphia Boston Washington Chicago. They're saying. You know can't afford car anyway so like it drivers out. Well I think the big ship does just that you have a higher percentage of people living in urban areas as well it's only the you don't have as many people that are necessarily. Out in our rural areas are you even suburbs you'll get a number of suburbs and you're seeing places where. Lot of Bob baby boomers now moving back in the cities and look I can tell you from all looking in my parents' friends couple of them removed back in the season got rid of their cars even so you're talking about people. In their sixties that are saying you know what I don't wanna deal with driving anymore and and look. We'll see the traffic out there you drive. You know on the on the Mass Pike on 84 on 495 and you sit there any say. I got to deal with this I can't blame people for giving up their cars. Yet you have the opportunity to take the train if you have good public transportation. It's appealing but that is really bad news for the automobile industry. Very one question actually just because you've had obviously far more kids than I have my number being zero with this point handout from the five away. Some people are getting licenses less because it cost between six and 101000 dollars to ensure a new driver do you think insurance costs and how though did those have risen four cars plays into this at all. It does it does the cost of operating a vehicle I don't believe that it cost that much between six and 101000 dollars to century new driver. But it it is expensive but I think you a lot of it has to do. Where people having smaller families and people who were having families are more comfortable living in the city today. Then they were 2030 years ago clearly is that a major demographic change since 1983 when you look at those stats yeah appeased all the way around. Up next will be joined by Josh Mitchell from the Wall Street Journal. There's an obscure federal law. That allows people to default. On their student loans it's fascinating story today's Wall Street Journal you gonna wanna hear this. That's our next topic on the financial exchange from the insurer match dot com studios. Hero of the latest financial trends are right here in the financial exchange on the financial exchange radio network. Is the bull market about to end many analysts think so given the high degree of volatility that exists in the market right now and is their right having a sound financial plan is bound to be one of the most. Important issues that you wanna be on top hi this is very Armstrong and I've been helping my listeners with their financial planning needs for years and I'd like to help you too if the current uncertainty on Wall Street makes you uncomfortable give me a call at 803934001. And I. I'll review your current portfolio for free at 803934001. The appointment will take about an hour but wouldn't you give up an hour of your day to help you make better informed decisions call me today to set up your appointment 803934001. That's 803934001. Securities offered through securities America incorporated member finreg SIPC and advisory services are printers securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. If you're thinking about retirement soon it's time to make some big decisions do you know if you should roll over your employer sponsored retirement plan to an irate how about changing investments to an income focused portfolio do you know when the optimal time to collect your Social Security news do you know the five things you need to be aware of about long term care insurance before you buy it there's so much to consider before you stop working and we put together a 2016 retirement guide to can help and it's yours by calling 803934001. You've worked your whole life saving towards retirement doesn't make sense to get professional advice to make it last 803934001. That's 803934001. That number again 803934001. Securities officer securities America incorporated member of the SIPC advisory services orbiter securities America advisors incorporated Gary Armstrong represented if Armstrong advisory group in the securities America companies are unaffiliated representatives of securities America do not a protected by always seek the advice of a professional familiar with the laws in your state. Mortgage rates are still at an all time low makes sense to take advantage of these rates whether you're refinancing or buying in the world leader bank is a local bank that is one of the largest mortgage lenders and New England with a very competitive rate their experience about mortgage financing options and get a very competitive low term fixed rate your home refinancing or buying a new home work with leader bank. Only 776917900. Or visit leader bank does come leader bank went over one billion dollars last year homeowners in the Commonwealth of Massachusetts there's the web experts in mortgage financing deal with a local bank today and call 8776917900. Or email Ed loans at leader banks don't go visit leader banks were all your home by Marie financing needs 8776917. B 908776917908776917. B 900 or visit leader bank are. Equal housing lender. If you own rental property you're going to want to hear about this exclusive program offered by leader bank it's called zero and is designed specifically to help landlords receiving and deposit their rent checks electronically as opposed to having to wait for the male co leader bank right now if you're interested in he ranked the number is 8776917900. That's 8776917900. This program will automatically deposit your rent checks into your account and we'll help you avoid the hassle of waiting to get a check many landlords are suggesting that tent and sign up for zero and took on the execution of their release then why wouldn't you wanna do that once it's set up you never have to make another change during the lease period zero and does a free service if you have an account with leader bank and if not they'll simply cost you a small monthly fee cult leader bank right now and 8776917900. That's 8776917900. Or go to zero and dot com for more information. Member FDIC. Get your thoughts and questions seem to be instantly takes the financial exchange at 6868. This is the financial exchange on the financial exchange radio network. We ask that question. Which state was Ronald Reagan actually born and raised in the answers Illinois who knew the answer John. When there was Anthony from east Greenwich Rhode Island taking home a mug. Larry our guest is Josh Mitchell he wrote an article is posted in today's Wall Street Journal that caught my attention. Read a paragraph to you and then we'll talk to Josh about it. In the past six months more than 7500. Borrowers or opening 164. Million dollars have applied to have their student let's fix. Two student debt expunged under an obscure federal law that had been applied only in three instances before last year. The law for kids debt for borrowers who. Prove their schools used illegal tactics to recruit them such as by lying about their graduates earning. Josh welcome to the show and thank you for posting this article. On. Fascinating. Story that you came up with it sounds like Corinthian Colleges which went bankrupt. Was one of the major offenders dead and a lot of their ex students are having their student loan debt expunged is that correct. Right exactly and it would actually be that big an activist group that. Don't have discovered a flaw that had been on the books girl operated pattern really been used and when they were trying to come up with ways to help the former student of Corinthian. They found that law and that's when it came into play but that's sort of have been mechanical arms because now there's people from other schools source saying hey we were tricked com. And we should also have our lines were given under the under the law. I saw somebody who went to law school. Who's suing and he never passed the bar exam and it's you know he's he's suing on the basis of you know he's drive and carper who over. Because he wasn't able to pass the bar exam saddled with all these federal student loans that he's claiming. That that his student loans should be read you know forgiven is is this it it sounds like it they've opened the door. Where an awful lot of forgiveness which ultimately cost the taxpayer. Yeah exactly and this does. These that is the choices that the Education Department gonna have to make here they're actually. Doing this process where they're gonna you know effect clear rules as to who exactly can get forgiveness and I think you hit a pop on the eighty. Sort of that toughness and applying that. Well here BK is. What do you what proof do you need dish that your school defraud idea is it's simply been saying hey he'll get a great job as a lawyer once you graduate. And of balance and finding jobs. Is that is that the school's all. I think the Education Department is saying they need you need to do more than that. You need to show that they broke a state law but again the problem areas the laws vary by state and though. They're gonna spend the next few months really trying to steer clear rule so that. Yet it doesn't simply open up the door tenure as anyone used it is unhappy with. Their job prospect. Can get forgiveness that you need to show a little bit more. Just what is in terms of disclosure right now from colleges and I'm just looking at this from the perspective of look of people are saying they didn't know wad going in. Exactly what the you know what the job market would look like this and that what disclosure is required from colleges right now in terms of job placement after graduation and average salary is there anything that required there to prospective students are no. I don't think they're required. Specifically to show how much they're students earned. However. A lot of schools do this and and that question as. What is the data that they're shelling for example comes schools will say. X percent of our. Our students get a job but there's are based on surveys that not everyone is entering the cervix. Though there's a low response rate to the surveys and the data Egypt and simply rely on that. And and again the question here is our day outright lying about the data as just simply. Misleading you know is are they lying our day dealing released sketchy stuff flights you know. Paying temp agencies to hired her graduate for a couple days so that they can count them as being employed. You know these are some the questions that that the education apartment building at four whether it's broader. But the all it's it's not Harvard where they're having their problems is not you Conner Yale where they're having problems because you point out in your article. That it was driven by a surge in students attending for profit colleges. And that search cause student debt to nearly triple in the past decades it was 400. Billions and now it's one point two trillion and you and your study attribute most of that searched for profit colleges like ITT encrypt the. Yet that that was good that was a big driver of this surge and that's where most. Most of the complaints are coming from that the Education Department has received so far are. But I will say that this could end up being far broader than that for profit. Then for profit schools for example there's this nonprofit law school in California that being deeper now for the very same thing. More with former students saying hey they lied about the job prospects. That you would get if he went to the school and that you could have cases like this where nonprofit schools are getting it. Well well pretty intimidating thank you very much for joining us Josh carrier time sure thank you and who do you think that that's that's the that that's that's a huge problem right in you know you look at it you look at somebody who. Is me a potential victim and you say well nobody put a gun to your head nobody forced you to take that bone out but you know darn well they don't have the earning power to ever make. No I think what's going to happen here is I think the next. Ten to fifteen years there's going to be a massive shake out in higher education once you get outside the top 25 schools I think. The top 45 schools are always gonna have pricing power. But I think a lot of people are waking up to the fact that when you get down a certain you know wrong on on on the educational ladder and it's not because these schools are necessarily worse because. You and I both know. You get a great education regardless of what college you go to if you put the work and but I think a lot of these schools have kind of been just riding on this you know lot of people's at all you just you need to go to college need to go to college. And they've been able to charge whatever they want because the loans have been so readily available. I think a lot of the children. Of the millennial generation once we finally happen if we ever do because as you know were slow with just about everything we do. Once those kids come around. I think a lot of their parents are gonna say look I am not doing the same thing to you that happened to me and they're not going to send their kids off and haven't picked a 40000 dollars in debt. Just to go and and party and have a good time I think they're going to say look I went through this you're not doing it and I think colleges are going to have a very. Very difficult time making their ends meet. When you get out probably somewhere in the range of ten to fifteen years from now. Priority seeing budget problems among colleges are you suggesting that we'll see a lot of private colleges close I think you can see mergers I think you're gonna see. Private colleges closing I think you're gonna see significant staffing reductions at a lot of this the ones that are not necessarily premium universities. I think is going to be a major shake out. And I think it's something that a lot of people in education are probably pretty nervous about and I don't think they've been talking about a lot. But you see what's out there and I think there's a beat big shift coming. Yeah IE in retrospect I I I feel like there's a much better value in public universities state schools. Then there is in the public universities. When we come back over to be talking about Macy's they're making a major change major strategy changes coming down the pike. At Macy's will talk about it when we return to the financial exchange. From the insurer match dot com studios. You gun Barry Armstrong next financial exchange it shall look financial exchange radio network. Mortgage rates are still at an all time low makes sense to take advantage of these rates when your refinancing or buying in the world leader bank is a local bank that is one of the largest mortgage lenders in New England with a very competitive race as they're experienced about mortgage financing options and get a very competitive low term fixed rate your home whether refinancing or buying a new home work with leader bank calling 776917900. Or visit leader bank does come leader bay went over one billion dollars last year to homeowners in the Commonwealth of Massachusetts there's a true experts and mortgage finance the deal was a local bank today and call 8776917900. Or email Ed loans at leader banks don't come visit leader thanks for all your home buying a refinancing needs 8776917. -- 900 that's 8776917908776917900. Or resume leader bank dot com member C equal housing lender. 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Interest rates remains stubbornly low and I'm not sure when they're going up on top of that not everybody wants to invest in the stock market hi this is very Armstrong and is talking to my friend how we about the stock market and he refuses to consider buying stocks how he's conservative and he only wants investments that are safe and guaranteed that got me thinking and I found three year guaranteed annuity yields one point 95%. Per year for three years there are many types of annuities and some people think you have to type your money for ten years not true in this instance three years at one point 95% in -- you're out with no surrender charges if you'd like to earn one point 95%. Per year guaranteed for three years all our office. 803934001. That number is 80393400. What this is the best rate that I've been able to find so call now free 803934001. 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Who was Ronald Reagan's vice president are text number is 68680. Macy's just announced the end of department stores as we know that I don't know about that but there. Doing this new concept truck in the Macy's store called backstage. Where if an item doesn't sell in a hurry at regular price on the main floor. They're gonna move it to separate department within the same physical store. But it will be marked back page and backstage excuse me and they get a discount the price of it sometimes as much as 80%. So this is for me it will when I look at this this is a lesson in now what we called deflation. And why it's not good. Because if I am a customer that's considering shopping at Macy's why don't I just wait until those items go on sale and then by the 80% off. And I thought they'd be ever go on sale like if it's a popular item like they say it's a fashionable. Bags our pursuit of something like that they'd ever get there. But here's here's here's the thing let's say that so right now everything is priced just how it's priced for what if a lot of people wake up one day and say. Gee you know what Macy's said that if things don't sell. They're gonna give them 80% off. On their pricing. Why it may be I'd just wait and see if it goes 80% off. What why would I go and buy it a 100% of the value when Ike abided twenty. Like to see what they're doing as a try to create more traffic right in their store I think this is a made death knell for them I don't know I think this. Eat it target's doing it TJ Max is doing it you know like a lot of companies a lot of their competitors have been doing it for years now they're late to the game grant to that. But they are desperate indeed decree foot traffic and I think this might it might have a positive effect on traffic. IC I view Macy's and very differently from TJ Maxx TJ Maxx is discount retail. Macy's is not. Macy's trying to go discounts screens that they don't trust the pricing power of their product which look. You can say they're pricing powers don't like dogs because they don't have a good product right now. All old old says to me is that you're gonna see more people buying at 240% of the value of those goods as opposed to a 100% and that's not good. That's not good like yet creates foot traffic but at the foot traffic is just losses. Needs it's not good. Well unless they buy something else would there and you know lately why would you do it if if you're going in and seeing something 80% off. And you know if I just wait long enough something else is gonna come down to this rack while. When you have discounts like that think about the Joseph A bank ma. Well it's kind of like when you walk into a grocery story Turkey go into by grab a gallon of milk and you walk out with chocolate bars Tate chips nuts you know it gets the make the impulse buy Ager by. If you're walking out with with that element both ways to Tia. I think Macy's is Joseph A banking themselves I think they are setting themselves up is that they can't sell goods at real at at their fair value at their full value here. And I think this is going to be really. Real I think is gonna be a bad decision for them. I don't know where the stock market is head and tell you right now the Dow is down 380 points. The S&P 500 is down 45 points and the NASDAQ is down 100 points. I do know. That many view are concerned about your 41 K plans I know many of your concern about your individual retirement accounts. And some of you may have concerns about your brokerage accounts and your other investments. Last week I gave me an opportunity to call in Abu it was on Thursday when the Marcos ago an awful lot. And many key call than we were not able to accommodate. You know more than five. People to help with their portfolios were doing it again today we will open the doors to the first five listeners. That call in for a portfolio review what is this involved. You have to show last week you have for your current investments and we will measure it or risk will measure for alpha. Will measure for yield you know one thing that I pointed out to one of our listeners last week chuck was they were all nervous about their investment portfolio. In and I showed them that there they roll taking 60%. As much risk as the overall stock market. And that their dividend yield was more than 3%. So. They were even spending 2% of their portfolios so once they recognize that it. They were able to rest a lot easier and I pointed out a couple of suggestions that I had with their portfolio. I think there's a lot of people my sense of it is it based on what we're seeing on the text line there's a lot of people that are on the verge of panic. I think so I think so you know and and what we're trying to do here today. Is give you some assistance if you would like some help with your portfolio if you just wanna talk to a calm hander you want somebody to rebuke if if you if your don't have confidence in your portfolio. I'll give you a phone number to call 180393. 4001. Simply ask for somebody to take a look at your purple and the team of investment professionals that work in my office. They'll examine what you're doing currently with your investments whether they be stocks bonds mutual funds or ETFs they'll examine what you're doing currently. And they'll give you suggestions as to what might help you sleep better at night. 803934001. Is the phone number. The first five folks that call will be accommodated with a free consultation and free review of your investment portfolio. I would call now because there will be a flurry of activity 1800. 3934. Zeros or one is the number call and when my associates with a PO 800. 3934001. Securities officer securities America incorporated member finreg SIPC and advisory services offered through securities America advisors incorporated Barry Armstrong were presented their Armstrong advisory group the securities America companies are unaffiliated representatives of securities America do not offer tax advice always seek the advice of a professional familiar with the laws in your state. I saw a story chuck in the Washington Post in its suggesting that the value. What used to be the St. Louis Rams and I guess now will be the Los Angeles rams. The value of that franchise has more than doubled as a result of their moving. From Saint Louis where they hadn't established fan base where they had you know following. And they had a stadium to play they're moving to Los Angeles they have no stadium they have no fan base but their value of the franchise more than doubles explain. What they do have somewhat of a fan base remembered the rams used to be in Los Angeles and there's probably a lot of people back in Los Angeles thing. You can finally pull out that Los Angeles rams switzer maybe I go and buy. A new Aaron Donald Jersey or maybe I go out. And buy a new hat and so I think there's a lot of merchandising revenue that's gonna happen there and obviously being in. You know arguably one of the two biggest media centers in the country. It's it's a huge opportunity there I think in terms of what you're able to do in terms of marketing opportunities so. I think it makes sense from that perspective to me. As well the fact you talk about Saint Louis coming from the stadium that wasn't old necessarily but didn't still have a lot of the modern bells and whistles and the number of luxury boxes he won this and that and I think just of the value that they get. Out of that new stadium is going to be huge for them as well. The Saint Louis is a big market they support baseball very well though you think they are deserving of an NFL team. I mean there's there's all NFL teams successful NFL teams in many smaller markets in Saint Louis. Well it's it's not a matter of whether or not they are deserving there's no question that they are deserving of an NFL franchise there's no. Questioned they've shown they can support one the question in in all of this really has been what is going to make the most money for the NFL. And the answer here is not see Willis right. Up next we're going to be joined by Jackie. CNBC were to be talking about energy. Moments ago we saw oil prices dip. Below 27 dollars per barrel talked Jacqui about energy the whole energy sector yet questions by the way port Jackie the Angeles from CNBC. Text those to us 68680. Is our tech's number you're listening to the financial exchange from the insurer match dot com studios. I learned. From in this truly yours it's the financial exchange on the financial exchange radio network. If you're thinking about retirement soon it's time to make some big decisions do you know if you should roll over your employer sponsored retirement plan to an irate how about changing investments to an income focused portfolio you know win the optimal time to collect your Social Security news do you know the five things you need to be aware of about long term care insurance before you buy it there's so much to consider before you stop working and we put together a 2016 retirement guide to can help and it's yours by calling 803934001. You've worked your whole life saving towards retirement doesn't it makes sense to get professional advice to make it last 803934001. That's 803934001. That number again 803934001. Securities offered through securities America incorporated member of the SIPC an advisory services offered through securities America advisors incorporated Barry Armstrong represented if Armstrong advisory group the securities America companies are unaffiliated representatives of securities America do not offer tax advice always seek the advice of a professional familiar with the laws in your state. This is very Armstrong and I like to talk today about SBA if you're small business looking to expand or improve your infrastructure you need to take advantage of this great deal per -- bank limited time your business can get an SBA loan a three point 99% annual percentage rate with no closing costs on loans up to a 150000. 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Or visit leader bank does come leader bank went over one billion dollars last year homeowners in the Commonwealth of Massachusetts they're the true experts in mortgage finance deal with a local bank today and call 8776917900. Or email and loans at leader bank dot com visit leader bidding for all your home buying a refinancing needs 8776917. B 908776917908776917900. Or -- leader bank does not. Equal housing lender. Started. Start with Barry Armstrong the financial exchange on the financial exchange radio network. Great George Bush. Please Ronald Reagan's vice president who knew the answer that tricky question that was Ron from Berwick Maine taking normal mode today. Are where. Now joined by Jackie. CNBC she does to help us understand what's going on with the oil hi Jacqui. Hi good morning guys while it's topic they carry the oil market equity market as well. And link in the downside in here when it comes oil ethnically probably I think equity little bit lower. When. Dollars and 81 and would be low today that it's remarkable when you look at. You're that age are well on it in the last year voluntary quickly that your age are they show it. And gone now pretty much a straight line out twenty course and the article here. Why are we going down so quickly like at. Well this learn actually in earlier over that's why globally we haven't heard anything from producer at a encouraging for our. Well without adapt and not here in the United States not a bond not OPEC producer. And back most recent life without probable caught by the fact that he sanctions were lifted against Iran aggregate at the oil will come online it. Eric but yesterday and not only are Iraq means gonna ramp up about spot without oil barrels per day but for all that going crisis in Europe. I Audi Arabia on the war to try to maintain and gain market share. Spouting and that Iran in order a I want to hear it could drive prices down even repair and the higher energy. Not. Aren't in the outing and he app buyers in equities on a. What is the end game for them to do that because we. They are making less money than if they were producing less oil. Right and that you know that really be is a lot of work out what they're concerned about is that. They the market share and I've been in it they lower a longer and they won't be bringing Japanese member of the Saudi Arabian. They get away a lot and ground or. Last and ten dollar a barrel what they need to bring even about eighty dollars a barrel and added I. Of the social spending and all of the outlook warm up on and pull them. So in which I mean there is any amount of revenue coming in even at. Some you know lower priced arrow. Otherwise you have a situation barely see major error in catcher caught meter on crack ink a little bit like what we on agree. We need our help people that there are eight or their taxes that they were you angle for all of a pattern there would be. Where the situation and and I anybody was expecting but that's why or share that. I think it's some money coming in the door. Jackie Exxon estimate that urges the suggestion from shell that they're gonna have 101000 jobs eliminated. How many jobs have been lost in the energy sector in the last twelve months to have any idea. I I doubt that figure out a but has not an app out something op I can tell you significantly out and remember it back at one edit read and we were all and when in this country because of the energy. Now I'm one of the actors well they're being eliminated the usually aren't into the outlook for different companies even in a lot a couple of my aunt and my op here as they read off line. Even at all their grade even if they are great batter and it ain't. People without proper budget and the course honor bound to accept. It looked at the cold down there and you know that it is they added an RI. A Bennett has wit now the which when you looked. At the the pain being felt. I was on a JPMorgan conference call the other day and he wrote down I think it was 500 million the last quarter. And literally writing a hundred million in this quarter because they thought oil prices would rebound to fifty dollars a barrel which fifty dollars a barrel looks an awful long way away. It seemed they are what they offer here and look I'm not. And we need to fighting at each year rebalance things start occurred certainly at possibility. That he may be a little bit I. But I definitely think as you mentioned about people habit and copy bound right in their book. Wage it quickly right now where we and the price traders are paying me. Watch this go lower before it goes back up and and that there could be what car instead quarter because that's been a sometimes remember. Even as the last well you bring up why apple stock market and the production number actually go down and track them every week they're not going to. You know yet because they're they're pumping out of existing wells correct it. Accolades and the way to look at the race everybody look on our out more oil in my app and look at it this way. They're rain and higher pay somebody explain to me as Eric overstating it made and there are you know old beat up unit rate. Here in the old ones off line 11 are predicting the ones that are. Pumping out of loud that are. He trader at eight season ticket many of those offline a palpable there were a product coming out you're keeping your worst stating they outline or you know drilling and pumping. That's where the production outcome on. Right right but Jacki thank you for your time we sure appreciate and your busy today. It. Jackie. CNBC joining us today and you know chuck a I was gonna ask her you know we're at the bottom is for oil but that's not a fair thing to do because nobody knows the answer to do that. Not a I don't think anyone out there necessarily knows where it's gonna be and and we've shown the charge before book you go back a year from now known predicted oil was going to be at 27 dollars a barrel today. No one there there was no one out there that did these are people that do this. Every day looking at energy markets for a living futures curve weren't shown is anything like this so. It's in that dynamite you take a look judged at the market here I mentioned at the outset I was gonna look up how many S&P companies we have in positive territory Oca. The interest thirteen. Thirteen thirteen out of 500 so little less brightly percent. I'm surprised there's that. You know elected last week it was today ethic Rosalie 71 day. Vienna and in a did you seek confirmation the London FTSE index did just going to bear market territory as well that is now 20% off of its highs from last April. It out and. You know we are we if we break through 1820 this is so measure that you might want to keep an island folks right now the S&P is trading at 1826. And you know we we we if we go below 1820 at all. Then then we're probably him. Very strong likelihood that we could be headed. In to a bear market I guess I owls stood in the show with the same commentary that I began the show with which. It is if you sell your stocks today where are you going with those funds you know he's going to gold he's going to bond funds. You know I've got a ten year treasury trading at one point 96% I can't remember the last time we saw the ten year treasury trading at 196 track. It was probably got to go back. I'm thinking yeah. You're probably talking somewhere at nine to twelve months ago now I'm thinking it's back it up while we pulled up and take a look at the last time we saw. This level here was back in April so about nine months ago April 15. It's the it it's it's perplexing to watch and I know it's frustrating from your perspective you're looking at the market change saying oh my gosh what you like you had a light manage this. Going forward you know if you have money that's safely invested in bond fund answer money market accounts and if you need capital that's where you wanna take it from. On a daily today if you need to make give an example you need to make key required minimum withdrawal from your IRA. Or use you need to make it tuition payment. My gosh I I wouldn't sell. Your shares in IBM or your ExxonMobil shares on a day like today to pay tuition bill unless you absolutely have to. Try to use things like your money market accounts your bond funds short term bond funds because those are holding up quite nicely. Bond funds actually Tucker doing quite well and bonds are doing well because interest rates are coming down. Yeah you look at how bonds are holding a particularly high quality bonds right now just if you look at the Barkley that index so far this year Barkley zag is pretty much flat. Pretty much flat this year so you're you're holding up. It if you are in safe high quality bonds are holding up pretty well there this year even as the market is is struggling so far right. Treasury easy middle awful lot of money well will give you all the latest stats tomorrow when we return for another edition of the financial exchange PE ratios will be down. Yields will be out. Your portfolio when you look at the darn thing you're going to be leaving a little bit you've been listening to the financial exchange from the insurer match. Top studios members in SIPC and advisory service operatives securities America advisors are on congress Jennifer Armstrong advisory group in the securities America companies unaffiliated.