Captain. Meet the virus hunter from la jolla. The foremost expert on what the world is doing to fight ebola. All that and more. But first, headlines. Bank of america elected ceo will succeed chad holliday. Diamond asmie being a ceo and chairman. Suffered anund estimated 23. 5 billion. Its worst month ever. The largest redemption occurred september 26. The nfl and directv have extended the sunday night ticket in a multiyear deal. No terms were announced. Those are the top headlines. Thanks. Stock prices did indeed decline. Airline shares were among the biggest losers while government bonds continued their rally. For more on stocks, the chief Market Strategist of russell investment. He joins us by telephone from calgary, canada. I guess it was a good day to be outside of wall street. The reverberations were a bit muted in calgary. Why do you think stock sold off . We hear the news just fine in calgary. The market has been moving around, wiggling around, looking for a pricing point. There is a lot of information that needs to come in. The Federal Reserve, continuing to pace. I think the big wild card is whats happening in europe. Theres not a lot of new news coming out of the u. S. Goingonomic recovery is ok, it is granting forward. We think were are going to settle into that 3 plus or minujs for 2015. What were seeing right now is the perspective that the Federal Reserve is likely to wait a little bit longer than the expected,ht have and the European Central bank will have to get busy soon. Their version of the quads ticket using. That will create winners and losers. Uncertainty and the lack of a correction in u. S. Equities for well over two years, its led to a safe haven premium. Let me pose a year that asian stocks and latin america and stocks in europe are all taking it on the chin because of issues related to their economies. Why would u. S. Stocks decline . This is a global perspective that investors are beginning to take, one we would look at as well. Multiasset strategies are going to be the way that investors are going to have to deal with a low return environment. Favor seven penalized. Beenvorites have penalized. This is not just u. S. Part of the issue is that valuations became a full valuation in u. S. Equities, probably more so in smallcap space. This was to some degree of valuation assessor by the market. Patient,if they are that is what is therefore. Its there fore. Index ismallcap declining about 1. 5 . Thank you very much. The chief Market Strategist for russell investments. Now onto the latest on the first case of ebola virus in the United States. One unidentified man who flew to diagnosed withen the disease. He is being kept in isolation in dallas. Prices of three Companies Working on treatments for ebola all jumped. This is despite the selloff of the overall stock market. Institute in la jolla is working on a vaccine. We are joined by the leader of the global team research. A pulitzerhere is prizewinning journalist who chronicled the ebola Virus Outbreak in zaire. Welcome. Lets start off with what you know that may have changed. What can we look to . Here in this country, we are going to calm down around the dallas case. We wont find secondary transmission and people will relax. To beal problem continues liberia, sierra leone, and ginny. And guinea. That epidemic is out of control and growing exponentially every 20 days. Though there has been a serious mobilization and we finally have the United Nations motivated to do something, it is going slowly and we are discovering the flaws and all of our Rapid Response capacities from one nation after another. Germanys air force still hasnt managed to get a single supply landed in africa. They never made a further in the canary islands. I want to bring in you, doctor, because you focus on Rapid Response and have been looking at this issue for many years. You gave a speech back in november tell us the challenges of tracking in stopping the ebola virus. Ebola is one of the most lethal viruses we know. It blocks your immune system from fighting it. It infects most cell types. Scientists have been working on this, and we have some very good candidates and therapies in development. A prime concern is that thousands of people in western africa and we need to mobilize forces for them while we try to develop the therapies. You have been described as the virus hunter. What resources would you need in order to continue your work, and also to tell us how challenging is it . How technically difficult is it . I am leading a global collaboration to make these antibody therapies. This is unprecedented. I dont think there has been another scale were although scientists have gotten on the same page to do this single set of experiments to make the best antibody therapy. We have a proof of concept and more coming online. It is a very tight budget that we work under. Ebola therapeutic would never be supported by free market. Rare, andtypically most of the people that get it couldnt afford to pay for treatment. But treatment still need to exist. We are absolutely reliant on federal funding from the nah and department of defense. Harder tos harder and do the kind of work we need to do. She said,rd what do you concur . Of course. We have one glimmer of good news. Convened a panel of experts to look at the existing candidates for vaccines for ebola, and do ask if they are good enough that it is worth pushing them on the superfast track . They selected two. The other from a Small Company in the United States that license that from the canadian government that developed it. Both of these are now going to be highpriority. Rapid phase i and phase ii trials. The question is how are you going to do the largescale Clinical Trials . It may end up going to real people without knowing if it is working. Doctor, you have been working in labs in which you need to be protected. The kind of personal protections do you take, and not to put a light on it, but you have also got special lab gear and a camaraderie going because you are a real team at this. Most of what we do in my lab in la jolla is molecular biology. This is done with purified proteins. It is very safe, there is no danger. We have a lab where we do arts to the virus and we work in the early own in sierra leone. Scientists have a whole array of protective gear that we need, at the doctors and many in many countries are lacking. We are fortunate. Aware of theu are case that has been diagnosed in dallas. Do you fear any outbreak of ebola in the United States . In thiswe have seen outbreak and every other incidents of ebola, is that it passes human to human by fluid, for anact in caring infected person or contacted with an infected animal. If a person has not been to western africa and they have not come in contact with the blood, vomit, or feces of an infected person, they are going to be failing. To be fine. They should channel their energy into something productive and help support their local sciences. Like zmapp, or these vaccines. The important thing your viewers need to know is that viruses do move. People once a couple of in africa and now it is a global pandemic. It is important that we mobilize whatever we can to contain this outbreak. Thank you both for joining me. Coming up, borders exists only on planes and ships. They can go anywhere. The ceo of one of the Largest Shipping Companies talks about safety on the high seas and the health of the global economy. Coming up, what made a Computer Program or a family man from Pittsburgh Pennsylvania into a crypto cult. His bitcoin of session. Youll meet the producer and star of the documentary the rise and rise of bitcoin. You are watching taking stock. Stock. Is taking the ebola virus has made landfall in the United States on the passenger from a flight from liberia. Countries that do businesses across borders experience guarding against these kind of illnesses and security lapses. One of the worlds Largest Shipping Companies has its president here, joining me now. Thank you for being here. We were talking that Port Security and ship security, whether it is a virus such as ebola or an undocumented passenger, that is something you have been living with since you started the business. It absolutely ramped up after 9 11. L before we arrived, people want to know exactly what who is on board, will where they have been and if anyone is sick. The manifest is something that is pretty important for any vessel. Yeah. Think its right because we can carry a lot of cargo. The bigger threat from ebola is obviously an airlines. I can assure you that port state control is already checking. Lets talk about tk. Tk corp, when we were doing all of our research, there is tk l ng, tk tanker. Explain the structure of tk. When i joined tk, it was just Tk Corporation. We determined that investors wanted a pure play company. Ers, tkted tk lng partn offshore partners, tk tankers. That has been a real success. This week we announced the Tk Corporation was going to get out of all of those activities and be a pure play gp. People seem to like it based on the stock going up. Why do you think people liked it . Its simpler, it clarifies . Mlpeah, because we are an that isnt focused on whats happening in the u. S. We are focused on this big energy bill that all around the world. Were picking up lng in yemen, in norway, in angola, and we are shipping it all around. When you really look at what is going to happen, china, india, that is where the real growth and energy is. Here we are all in services. You are shipping all around the world and guarding against ebola but you also have to deal with piracy. Thats a big issue. Yeah. Luckily we are sort of at the end of it as it relates to somalia. A big problem is refugees. There is a huge refugee crisis in Northern Africa all trying to come to southern europe. We have picked up several boats and been asked by coast guards to pick them up and drop them off in places like italy. I would say the refugee prices a bigger crisis than when you are a tanker and you suddenly have 100 people, undocumented onboard. That is itself something you worry about. You get to worry about those things but you also have to worry about the global economy. Telling a business is performing. We have a lot of longterm contracts. Our lng, our average contract is 14 years. We dont really worry about that. We worry that people will be consuming oil. Our biggest customer is and they are going to double from 2 Million Barrels per day to 4 Million Barrels. We have offshore floating production units, tankers that pick up the oil. All that has to go around the world. When you stop and think about it, you really need tk and Companies Like us to be shipping all this energy. You are a good person to know when you want to drive your car. We move about 10 of the worlds oil from norway and brazil in the persian gulf, and even places like nigeria. Thank you very much. The chief executive of teekay c orp. Still ahead, an the session that fuel the film. Would you like to learn exactly what bitcoin are . There is a new documentary called the rise and rise of bitcoin. Its next. There is a new movie out and involves the fbi, federal law enforcement, computer geeks, and money. Addressed it . Interested . This is the director and the star of the new film. The rise and rise of bitcoin. He joins me now. Thanks for being here. We were trying to sort out in 10 words or less what is bitcoin. I guess you have to watch the whole movie. How did you get started . I got interested in bitcoin a few years ago. We kind of i got sucked in. I am a Computer Programmer so the technology is really kind of a breakthrough for computer science. Is a cash that works over the internet. Prior to bitcoin if you wanted to send money, you had to use some kind of a thirdparty. With bitcoin you can now send money over the internet and you dont even need an email address. You dont need an email address. That positives because i am trying to remember the moment in the movie when you have delivered all of these very powerful computers, and they are delivered in a delivery van, a dhl truck. I dont think the delivery man he was bringing to your house. Al qaeda scaler were talking about when it comes to mining . Those computers were some of the first generation of computers that had computer chips that were specifically designed for mining bitcoin. You can use them for anything else. It was exciting to get the first generation. The now within the year, Mining Industry you have huge warehouses of Mining Computers being set up all over the world. It has turned from a gay copy to a multimillion dollar industry. There is one that quite minor that Bitcoin Miner you focus on. Charlie. I wonder if you can describe how you got into contact with him, and what is ultimate fate has been. In the the only miner film but charlie was one of the founders of the first bitcoin start ups. Bitcoin early on was a very small community, hard to buy bitcoin. You had to go through a lot of steps. Charlies business made it easy for you to buy bitcoin quickly. Know, they ran into a lot of questions. No one knew how the government was going to treat the client. Treat bitcoin. He was arrested at the airport. He was arrested. The terms of his arrest were things that came out during the prior year when we were filming. Amazing to capture all of it as it has been so brandnew. We were do you own a lot of bitcoin . I still have a lot. 390 million. What you intend to do with them . I hold them longterm now. I am also very involved in it quite as a whole. Its a new way to send money with a lot of technology. People got a check out the movie. The rise and rise of bitcoin. K. S is taking stoc. This is taking stock on bloomberg. I am pimm fox. Now, for a look at the market headlines. It plans to open the shuttered casino in atlantic city. They won the property with a 110 million bid. Its holdings, including the hard rock in las vegas and three other resorts. The Restructuring Plan would have carl icahn invest as much as 100 million in the company and take over control. That is if the casino operator can meet certain goals. And general motors, chrysler, and nissan reported 19 increases in u. S. Sales in september, beating estimates. Meanwhile, ford and toyota both missed projections. Deliveries jumped 47 at chrysler. In hong kong and china, they celebrated national day, the beginning of a weeklong holiday. It is the anniversary of the founding of the peoples republic in china. The celebration in hong kong was drowned out, at times, by protesters. Joining me is mia. What is new and what is going on . We are entering into the sixth day, protesters continuing to demonstrate in front of this key area in hong kong, admiralty, causeway bay. Last night at midnight, protesters told the chief executive that he had until then to resign. Clearly, he has not. Police are in front of his home. The Legislative Council has increased, more or less. You have heard from a member of the executive council who said that she is willing to meet with protesters, which is something that is different than what you have heard. He was denouncing what was happening and saying that protesters should go back home. Again, a six day. It is a holiday. Expect more people to turn out. Did they cancel the fireworks celebrations that were typical for national day . Fewer shoppers, stores are closed, offices are closed. Various Retail Stores have been impacted. For example, a lot of the Jewelry Stores have had to shut down and open later on in areas that are not affected. They didw that celebrate the important day for hong kong and china. Enjoyedthat he champagne while he was celebrating. I want to bring in a senior fellow for the asia society. A pleasure to have you here. Lets talk about the Chinese Government in beijing and their response to what is going on in the special administrative region. Right. First, when the protests started, the hong kong government, which was essentially giving instructions, went in hot and heavy with the tear gas and they fired at these very peaceful students and democracy testers. That was a huge mistake and it backfired for them. People started coming to support these students. It is bad pr. Now china is in a difficult position. From the chinese perspective, they are afraid that there will be contagion of this democracy agitation. They do not even want it reported in the press. For china, there are two things. One, they do not want contagion. Jinpeng is prioritizing economic reform. His more thing is they can have economic reform without political reform. Political reform is very intense. I am quite certain there will. Ot be a Tiananmen Square china needs hong kong. They cannot alienate this whole generation of young people in hong kong. If they do, people in taiwan are looking at hong kong. If one country, two systems does not work in hong kong, you can forget it for taiwan. For the protesters, this is their moment. Either hong kong will claim its rights as a democracy or it is going to be repressed ike every other city in china. It will become a normal chinese city. If they lose this battle, and i do not think anyone thinks they are going to win completely, but if they are completely squashed here, it will be an ominous sign. Fromwant to bring in cindy ucla. She is a professor of geography and the author of the book, china on the move. I wonder if you can comment on what is going on right now in hong kong and also, more importantly, why is it that, in a place that has never really known representative democracy, why is now different . That is a very good question. Hong kong was a british colony and, for more than 150 years, there was no democracy. The queen appointed the governor who came to hong kon