invest the time in it. act like investing for the long-term means you have a license not to pay attention, you don't have to worry. wrong! but you always have to pay attention. the moment you stop is the moment you start losing money. and you'll never be able to recover from those losses until you get engaged with your portfolio again. sometimes companies can go in secular decline and their stocks never really recover. in that case, you can't afford to wait for a turn around, you have to get out before the damage becomes too horrific. hey, just ask the people who rode out research in motion or nokia or radioshack. these things have really come down. or in other words, being a long-term investor doesn't give you a license to be a lazy, apathetic investor. as anyone who owned stocks through the misery and horror of the crash in 2008 knows that doesn't work. investing for the long-term does not mean owning stocks forever. no matter the cost, if there's one good thing the crash did, it's disabuse people of the

federal infrastructure investment is often misallocated from my opinion, look at amtrak investment, for example. in my view, a lot of it is based on sort of political demands and not based on customer marketplace demands. federal infrastructure is often not operated efficiently, is often not priced properly. for example, if you look at the bureau of ec rah -- reclamations vast water infrastructure in the united states, water is vastly underpriced which causes inefficiency. federal infrastructure is often mismanaged and has large cost overruns. the faa has a very poor record in terms of bureaucrat cantic mismanagement and cost overruns, and a key problem with federal intervention, it seems to me, in infrastructure is that the federal government replicates mistakes across the country. states and private companies make mistakes, but when the federal government makes mistakes, it replicates it everywhere. high-rise public housing, which everyone agrees was a disaster, was replicated in the mid 20th century because of federal subsidies which induced cities to do this. cities to do this infra

growth we said we have been investing will continue to invest in the future. i think it's absolutely the consumer sector of their growth and there is a very clear this being one of the fastest growing areas in the economy in the world and russia right now is the fifth biggest consumer market in the world and per capita within the emerging market world it's certainly the best the high spending power because not bringing money to russia is the problem you see time and time again we go back to the you know to the oil world again is this balancing the budget there's a lot of state money going around going to pensions and public sector workers such as you're feeling this but there's no broadening of the economy we're not seeing investment into manufacturing we're not seeing much less mature regions of agriculture into food production etc all of the things that you need to. staying the expand the economy long term so to some extent could say absolutely right now people are in the streets buying you know consumer goods and expensive restaurants etc you get seventy tw

and not a penny come frs your original investment. once you pair back your winners, you can afford to take far more risk with what's left. you can let that run forever, i don't care. that's the holy grail to investing people. you can't lose. you can ride it all you want, never let it go, if that's what you like. oh, and one last thing. investors can let their gains run for older investors. the fact is, it's too late in the game. when you're young, it's less important. you've got your whole working life to make it up in your regular job. those of us in the older demographic, even if you're extraordinary diverse like myself. you've got to be more careful. that means trimming your winners more aggressively and ringing the register more regularly than any young investor might do. you can't just hold stocks forever. you've got to remember to take your profit. and, when you can, try to take all of your invested capital out and just play with the house's money. >> house of pleasure. >> i need to speak to skip in texas. >> this is skip. >> he

this is what the commission on investment and infrastructure is all about. i'm not afraid to say they've been there all those years. thank you for your sacrifices. (clapping) and even though the state got rid of that development. we've also done this right the people have also held us you t getable. pitting the promise first and we'll see to that that phase one is going to be completed during our lifetimes we're going to see 5 hundred thousand housing units on this shipyard how about that as a goal (clapping) >> in the morning promises. the dirt is being turned over at the buildings is being started. we're hiring local labor and putting people to work building the communities beautiful bay view we're lucky to be in san francisco. thank you very much (clapping) >> this project is firmly grounded on the foundation of community involvement and the key folks who were involved have had big challenges but they never gave up or wavered for a revitalized bay view community. dr. verna gave her heart and soul of the chair of the advisory you - how do you feel today. p

to invest than in the u.s. this was quite an interesting result from my point of view. >> that is interesting, bear in mind whether the u.s. is on their sort of great trajectory than anybody else. and finally, max, are many companies relying on external funding and if they are are t, they going to capital markets or relying on banks which would be interesting with so much concern about the health and stability of banks? >> it is also interesting. the survey reveals that most of the companies think they will further rely on the banks, and i think this is especially because -- especially in the midcap market, the bond market is not that easy and very volatile. you cannot be sure that you get through, and the cost, of course, is not that cheap as well. so, yes, i think we see, of course, still increases in the bond markets in germany, because it is quite a weak level we start at, but the companies, especially the midsized companies are still very much relying on the banks. >> all right. thanks for that, max. good

how does that translate into a difference in investment style? >> well, yes, that's a very good point. the men might chase the competitive returns, where the woman is more interested in balance. very value oriented. she's looking more about lifestyle, and, therefore, protection and certainly guarantees can come into play. >> men see it as risk. >> no, no, that's not what i'm saying at all. i'm just saying, men can be very aggressive and women may be more balanced. i'm not saying that women should not take risk. they take a moderate amount of risk and they also balance the portfolio out with some level of protection guarantee. >> women more and more are feeling more confident when it comes to their jobs and pushing to move up the corporate ladder and things like that, they're still a little shy in this financial area for women who are still holding back and feeling a little insecure. any special tips on how to breakthrough all of that? you don't want to wait for another financial crisis to get that wakeup call? >> no, that's true. women can start

in the people on the ground they have not filled any benefit from foreign investment all. these people are talking about and i go back to what i'm saying is that it is not right to divorce foreign investment from the more of those who want to come here they must be morally upright human beings otherwise they are splitting the wrong message to the children of this country and to the children of africa richard what do you think about that i mean the united states is considered a laggard when it comes to investing in africa i mean is it because it's been focused on military and security too much. i think primarily it's been focused on the downside on the threats and problems of africa too much in development so most of its money and spending in africa has been on development programs but i would say that i go back to my earlier point in terms of. africans feeling the benefits of trade and. to respond to ferocious point trade is a two way thing so should we be blaming u.s. companies or chinese companies for the lack of domestic development and investment in places like rustenb

. $17 billion of investment money but here priority is her community. last week the supervisor helped with the family and musical and food festival. whether she's working inside or outside of city hall we know she's working hard to keep our district healthy and save. please welcome supervisor cowen >> yes $17.6 billion but whose counting. i look forward in entertaining a conversation that we will be able to have about using this funds making an investment in the community (clapping) we make investments all around the world with this fund why not no our own neighborhood; right? really putting our money where our mouth is. okay. i told might have i wasn't going to cry i am facilitated with emotion. we are bringing arts and cultural to third street and uplifting our artists and the works they produce and honor the historic legacy that the african-american community has made to the bay point community. this is a remarkable events here. it's focusing itself right here on this part of san francisco and, yes there will be growing pains but we will persevere. (

we will continue to invest in our neighborhoods, in our infrastructure, and most importantly, in our people. i want to recognize budget chair supervisor mark farrell again for leading the budget effort and making this a very collaborative process. i want to thank my staff led by steve kava, and to my budget office led by kate howard. and also a great thanks to ben rosenfield, our city controller and his staff, and then an anticipated thanks in advance to budget analyst harvey rose for his anticipated cooperation. [laughter] >> so, i know this is short, but i think you look at the budget. to me it's quite a sweet budget. so, let's roll up our sleeves. let's get this budget done collaboratively. and then let's spend our time making sure that we get 6,000 jobs for our youth this summer. thank you very much. (applause) >> san francisco 911 heroes ceremony and it is presented today by the san francisco department of emergency management and 911 for kids. my name is elise kim and i am with 911 public education and just so you all know, 911 is the universal emergency response number when we

>> if you look at the investment we have made since the administration started, almost $60 billion invested in these technologies. better processes, more efficient turbine. this is all this administration has made for investment in coal over this. i would not agree with your statement, respectfully, mr. congressman. >> i think the gentleman from texas and i yield to another gentleman from texas. >> i had t-shirts made for my second campaign that said that just because i got it, i have to suggest that the t-shirt route would be part of it. the gentleman is recognized for four-minute. >> i wanted to ask judi greenwald about her organization's work and what is important to reuse as far as projects go and there is an important geographic area. >> we pointed out recently we have state officials in both the u.s. and canada talking about this and its relationship to carbon storage. they are doing carbon capture and they are using co2 into their pipelines to be used. so it is a practical example of the kind of project so it is a huge deal. >> okay. >> these products are also part of our initiative.

that is "invest in neighborhoods." and i will tell you how we do that. there is basically three elements to invest in neighborhoods that i want to tell you about. baseline services, commercial district assessments and customized services. so "baseline" services are city programs that are available to all of the neighborhoods in invest in neighborhoods, where we're piloting the initiative. and i have a few up on the screen there that i'm going to quickly run through, but we have identified about 40 city services that we call "baseline services." any neighborhood, commercial district or small business can access these services. so oewd staff support and we have somebody in our invest in neighborhoods team identified as the liaison or point person for each of the 25 participating commercial districts. i am the point person for the excelsior and middle polk. jorge, who you just heard from in the last presentation is the point person for west portal and commercial districts in the sunset district. you might know chrissy, who is the point person for bayview an

to go ahead and make that investment you have been investing in what bank can make the best and wants to make the best me but we still have you know we have a silly rule in europe where every investment has to be called financed by the national government we only have about thirty seconds left but who is era do you have with this modest proposal are you making any tread treadway whatsoever right now. very interesting story on the one hand behind the closed doors theories that interest you the most repulsive but when the cameras are on and the microcosm switched on in a press conference. it's dead silence simply because. that was my interview with you on his way to fight this professor at the university of athens and author of the global minatory now you can read his modest proposal on his website but if i could study you coming up area and breaks down insider trading and not just the hedge fund there is more of the to it than you might think some even argue it should not be a crime at all after all those in congress seem to get away with it legally and within the community then i do i

investment in this country it's been largely one sided into the benefit of the u.s. because if you go for example to a place like rustenburg where the mines operate what has been done for the people there they still don't anybody should go to a place like our system book or should go to a place like really where there's been foreign investment in the people on the ground they have not filled any benefit from foreign investment all. these people are talking about and i go back to what i'm saying is that it is not right to divorce foreign investment from the more of those who want to come here they must to be morally upright human beings otherwise they are spreading the wrong message to the children of this country and to the children of africa richard what do you think about that i mean the united states is considered a laggard when it comes to investing in africa i mean is it because it's been focused on military and security too much. i think primarily it's been focused on the down side on the threats and the problems of africa too much in development so most of its

we heard about the investment. one of the things about our bus fleet is it carries 3/4 of our rider ship. 7,000 trips a day are done on our bus fleet. this is the transportation for the city. it's clearly a billion dollar investment just in our bus fleet. you heard some of the features today. this has additional safety features both on the outside of the bus. it has state of the art cameras, not only to help with toll lanes and exclusive transit lanes only but to see everything on the bus. cameras on the outside to help guide the drivers as numerous people have said we've worked closely with all the constituents and stake holders to design this bus. the number one cause of munis delay. we are having these buses roll on the streets as opposed to hit the streets. we want rolling. this is a big step for us but only the first one. as you heard of other programs the help of the mayor, his administration, our board analyzed -- and the leadership of ed. this is going to make a difference in moving us forward. i will be ha

to go ahead and make that investment you know investment banks can make their best and wants to make the best me but we still have you know we have a silly rule in europe where every investment has to be called financed by the national government we only have about thirty seconds left but who's era do you have with this modest proposal are you making any tread treadway whatsoever right now. it's a very interesting story on the one hand hind closed doors there is a great you know interest you the most imposing when the cameras are on and the microcosm switched on and you know press conference. it's dead silence because. that was my interview with you on his vow to fight this professor at the university of athens and author of the global minatory now you can read his modest proposal on his website but if i could you coming up area and breaks down insider trading and not just the hedge fund kind there's more of the to it than you might think some even argue it should not be a crime at all after all those in congress seem to get away with it legally and with impunity then i do will sam s

climate in order to attract more investment it's just not getting implemented that's the problem we don't see enough progress on privatization we don't see enough progress you'd see the improvement in some of the right environment to do that is the answer we get from we'll yes but you have i mean particularly when you've just won an election with a mandate for reform i think that you could take a couple of brave choices pension reform i think is one of the key ones. unfortunately looks like we're heading for a pension reform where to finance the pensions we're going to cut the contribution to funded pensions rather than raise the pension age so unfortunately i think we're lacking political courage to take some tough decisions for long term growth for a corporation like yours what kind of growth strategy do you think that the government should be pursuing you know i mean we are in an environment which is also very competitive so it's not only. what the government or you but you didn't build it's type thing as well ok i mean you have the environment of the state provides what we have

paper invested. though i had a half million in the bank. that would become the beginning of my professional investing career which you will hear about in a mom. bottom line, if you trade, make sure you have a catalyst, an exit point where something is supposed to happen and you are out of the stock either way because you are -- either way, either way, because you are trading, not investing. you need conviction and you have to ask yourself, would you be willing for the world to hear hi, it's me, i'm not here right now, but i want you to take a swing at disney ahead of the analysts' meeting. if you can do all of those things start small. give it a try. stick with cramer. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. all on thinkorswim. wi drive a ford fusion. who is healthier, you or y

investment in this country it's been largely one sided into the benefit of the u.s. because if you go for example to a place like rustenburg where the mines operate what has been done for the people of the place to live in shame to talk to anybody should go to a place like rustenburg or should go to a place like really where there's been foreign investment in the people on the ground they have not filled any benefit from foreign investment all. these people are talking about and i go back to what i'm saying is that it is not right to divorce foreign investment from them or relatives of those who want to come here they must be morally upright human beings otherwise they are spreading the wrong message to the children of this country and to the children of africa richard what do you think about that i mean the united states is considered a laggard when it comes to investing in africa i mean is it because it's been focused on military and security too much. well i think primarily it's been focused on the down side on the threats and the problems of africa too much in de

allbee: any asset has an optimal investment strategy. if you're making investments in that asset too early, or too late, you're wasting money. it costs about three times as much to fix a system once it's failed. so it's all about finding that right point where the dollars should flow toward that asset. narrator: but finding the funds to evaluate and rebuild these assets is an ongoing struggle. johnson: there is a gap between what's being spent by municipalities and water supply systems and what needs to be spent. and somehow that has to be made up. so there's a good bit of lobbying through congress to get funding. oberstar: we need to restore the construction grant program. we need to invest substantially more, on the federal government side, as an inducement to states and local governments to make the investments they need to make. man: but the federal role is going to continue to be diminished because of so many competing demands. so the expectation that the federal government will step in and infuse a lot of capital into water infrast

so, in this budget you will see fiscal prudence, a high level of services to our residents, investments that protect our social safety net, increased public safety support for our neighborhoods, support for our critical infrastructure, and investments in our economy and job creation. one thing we agreed on early was that in the time of state and federal cuts, protecting our social safety net is more important than ever. so, therefore, i have rejected all proposed year-one mental health and substance abuse reductions from public health department and i have restored $4 million in federal cuts to programs serving people with aids and hiv. (applause) >> and, and we will continue our efforts to be a healthier city. the affordable care act will extend health insurance to 35,000 san franciscans and our department of public health and human services agency will implement our nation's health care reform. but on our streets there are still too many people, families without a place to call home. and that's why we are extending a dedicated emergency family shelter to provide year round services, a

paper invested. though i had a half million in the bank. that would become the beginning of my professional investing career which you will hear about in a moment. bottom line, if you trade, make sure you have a catalyst, an exit point where something is supposed to happen and you are out of the stock either way because you are -- either way, either way, because you are trading, not investing. you need conviction and you have to ask yourself, would you be willing for the world to hear hi, it's me, i'm not here right now, but i want you to take a swing at disney ahead of the analysts' meeting. if you can do all of those things start small. give it a try. stick with cramer. needs a new transmission.- your [ coyote howls ] how about no more surprises? now you can get all the online trading tools you need without any surprise fees. ♪ it's not rocket science. it's just common sense. from td ameritrade. ♪ it's just common sense. the world is changing faster than ever, creating new opportunities for those who stand ready to seize them. in a ti

invest in a 401(k). kierly, help audience out, a lot of people feel they have been doing that and hey have got ep nowhere -- they have gotten nowhere. >> the first dollar you save today is worth more than the last. you may have a lull in the market. that is just a short-term. don't look at the short-term speculation, look at long-term appreciation in there, social security is not going to be, i'm telling you. charles: news flash. all right, no one is argue with you. dominico, the headlines read, rich get richer, only rich are making money, then people get upset, why are you mad at someone -- when the blue print is right there, i look at "forbes" 400 list, i see why they are rich they own stocks. >> we have to stop thinking in terms of a stock, start thinking in terps of ausess, in market goes down or up, it does not matter could you are drinking coca cold argue cold a. -- coca-cola. yo want to be an owner of that business. >> wha doou see. with respect to people now, you know someone menoned in a show he

paper invested. though i had a half million in the bank. that would become the beginning of my professional investing career which you will hear about in a moment. bottom line, if you trade, make sure you have a catalyst, an exit point where something is supposed to happen and you are out of the stock either way because you are -- either way, either way, because you are trading, not investing. you need conviction and you have to ask yourself, would you be willing for the world to hear hi, it's me, i'm not here right now, but i want you to take a swing at disney ahead of the analysts' meeting. if you can do all of those things start small. give it a try. stick with cramer. [singing] hoveround takes me where i wanna go... where will it send me... one call to hoveround and you'll be singing too! pick up the phone and call hoveround, the premier power chair. hoveround makes it easier than any other power chair. hoveround is more maneuverable to get you through the tightest doors and hallways. more reliable. hoveround employees build your chair,

international investment takes more active investment. >> let's pull up the contact information. you can find him at 888-762- 2423. or you can go online at www.newfo cusfinancial.com >> if you need to contact me you can call 415-561-8753. >> welcome back. we are talking everything natural. you can call in 415-561- 8753. joining me now is once again, can't burton. he is is chad burton. >> if you're retiring 65 years old and you have a well-balanced portfolio you balance about 4% at age 65. you will be able to a justice with inflation every year. if you have enough money to live until 85. >> some of those created interest rates and bonds at higher rates. what else do we need to know? >> if interest rate on cds are cut and have since 2007 which is what banks are doing, investors need to have a least three years' worth of portfolio. this is a significant portion of the portfolio. this has all changed. there are several other reasons why this is challenging. this rule became popular in the '90s. since then, the interest rates were higher. you have also be smarter about your retirement

they reproduce and you know seventy five percent of world trade and of the world's a investment flows so they're the ones who want to take a hard look at this and the ones who are more enthusiastic about it are the larger merging economies precisely because that is where many of the multinationals work and of course what they want is a piece of the action they want a piece of the taxes is that was going out of the ping in conversation among the countries and that's happening already and of course we're talking here about how do you share the taxes provided there are tax is a problem today there's nothing to share because we have proved that this regime where these companies don't pay taxes well but that's not always the case for example apple which we already mentioned pays to precise on tax rate in our land as opposed to thirty five percent tax rate in the united states and my question to you why can't we treat a different tax regimes as just the competitive advantage that any given country has arline has two percent tax rate good for it if some country manages to offer something bet

that was my interview with former investment banker with credit suisse and corporate finance executive robin berry now following up on our discussion about interest rates let's look at in the story example of interest rate among two central banks in the legal. to the great depression for more on this we turn to prime interest producer justin underhill justin can you walk exactly through what happened during the early ninety's hundreds sure well we have a graph here of the english economy from one thousand nine hundred through one nine hundred thirty the green line is the value of pounds in terms of gold the lower the line the less valuable the pound is in the less gold you would receive for each pound the yellow line is the price index ranging from zero to thirty well england was on the gold standard the price level was fairly constant so it's going up until nine hundred fourteen so during world war one thousand nine hundred fourteen to one nine hundred eighteen england effectively doubled its money supply causing the price index to increase substantially as we see it right here during

it is as if -- people who have not invested, but invest maybe now. you have a democratic government they're respects human rights and treats everybody equally. so i think there's a sense of relief. everyone is happy. up 15%. relieved. ashley: i'm going to ask you a question. this is ashley webster. like him or not, morsi was democratically elected and there was the sense that if someone is elected now in egypt and they are not liked by one group or another that we are going to see chaos in the streets rather than go to the polls and have that person removed through the vote as opposed to the military. how would you respond? >> democracy and there are the roots of democracy. the rules of democracies if you're democratically elected you cannot disobey your constitution. you cannot to retired judges. you cannot animate the business community. i mean, you cannot go against the people who voted for you and you cannot miss perform your job. when people talk about the military, is the first time in history i've seen a military coup down by 30 million people

heck does it invest in? so i went through each of the actual fund prospectuses, which took me an exorbitant amount of time because each of these things were, you know, 50 pages long. they still wouldn't tell you what they were doing. >> smith: as he dug deeper, he discovered one fund invested in mortgage-backed securities, the kind of security that caused the collapse of the housing market. but that's not what worried him. >> i was digging into all the different aspects of it, and i kept coming back to fees. so here's the first mention of fees. this "exp ratio" right here. why would you think that "exp ratio" means "fees"? >> smith: hiltonsmith found over a dozen different kinds of fees, including asset management fees, trading fees, marketing fees, record-keeping fees and administrative fees. >> fees when you withdraw money. fees when you take loans. fees when you actually get money out when you're retired, which i actually didn't even know about. i spent a month literally going, "oh, actually this fee is a

these investments make sense. sometimes you have to spend some money to make some money, and high speed rail investments have an impact. they upgrade our rail infrastructure, they comboff the mobility of goods and people -- improve the mobility goods and people and they make jobs. amtrak, only $950 million total. of this only $600 million goes to the capital account. that's a 37% reduction from last year. more than $1 billion less than this year's administration request for capital. well, you can figure out how this is going to work. you subtract from that amount. that's $200 million. safety critical work and nspections and maintenance mandated by federal law, that's another $200 million. new equipment expected to be delivered this year that will add capacity to improve returns on long-distance trains, that's $100 million. so you'll see where that money's going. leaves almost nothing for capital investment in the national system, including improving access ability for passengers with disability. and, you know, whe

investment pool at ohio state. what in particular is on your radar screen right now? >> i think right now one of the things we're looking at are a lot more long/short managers. we think with volatility increasing in the market, that those two are able to be very good stock pickers, should be able to do well in this market, and those that we have in our portfolio this year have done quite well. equities have been strong for us all this year, as has credit. and we're building the private portfolio that has also worked quite well. so i think really at the baseline you have to say stay diversified, but i think we would be tending toward a bit more equity exposure than fixed income. >> domestic equities? domestic equities or international, or a mix? >> i think right now we're still leaning more toward domestic, but given the sell-off in international and emerging markets, i think there's some very good buys. the question is, when to get back in. >> do you think that foundations and endowments like yours outsmart themsel