Hour. If youre a regular viewer, you would know that. Well take you all the way to the close. Middle of the range so far in todays trade so far. You heard the brain trust. Pimco. You folks were having that last hour exclusively here on cnbc. Did they convince investors to stop pulling their money out of pimco in the wake of that shocking sudden departure of bill gross last week . Two Money Managers with skin in the game will tell us what theyre doing now. Thats coming up. A first on cnbc interview with nfl hall of fame joe namath announcing the creation of a neuro surgery center. Plus were getting the take on all thats been happening in the nfl, the controversy of ray rice and adrian peterson. You do not want to miss what he has to say. Joes not afraid to talk. Absolutely. Im sure he will have some thoughts and opinions about all those issues and certainly a lot of buzz as you can imagine here about that on the floor of the New York Stock Exchange. Right now, lets talk markets. One hour to go in the month, the quarter as we said. Getting to the closing bell exchange, with us today david lebowitz, chris constantinos, mark tepper, Karen Cavanaugh and rick sansantelli. Karen, can you believe this is going to be october . And second consecutive positive quarter for the dow, the s p and the nasdaq have seen seven consecutive positive quarters. How much longer, karen, do you think that can last . It could keep going as long as earnings keep going. And right now earnings dont look like theyre stopping any time soon. I predict Earnings Growth higher in the Third Quarter. Looking into 2015. Earnings growth continues. Investors are so focused on the geopolitical risk theyre missing the train and they need to get on it. In fact, the biggest risk in the last couple of years is being not being in the market. People are lamenting whens going on. Geopolitically and should be following the earnings and those earnings lead the way. I see Better Things ahead so i know theres volatility. Investors should be going towards the volatility. Not a bad thing. Its a good thing. Lets talk about what this earnings season is going to bring and the narrative to hear. David, to what extent do you expect particularly multinationals to talk about the strong dollar as a head wind . You know, i think that you make a good point there and i would say that earnings are expected to continue growing. That being said, a stronger dollar will be a head wind for those large multinational corporations and might make sense for investors to look at the corporation that is are domestically focused and not as sensitive to a depreciating u. S. Dollar. Chris, we havent mentioned hong kong yet. Theyre gathered there in protest of the election process in that country. They have set a deadline for the leaders of china to do something about it. That is going to be their tomorrow, their wednesday that happens today. What do you think happens there . We were talking so much yesterday about how important to the world economy. Put this in perspective from your perspective on this. Sure. Yeah. Never a dull day in my markets. You know, the first question investors have to ask themselves, is this likely to become the next tiananmen square, its not likely to although its fluid. Hong kong and China Mainland have a lot at stake making sure that doesnt happen. Hong kong from their perspective has long been viewed as a business friendly community, a place that puts business and making money ahead of politics. And then from Mainland Chinas perspective, a Major Campaign to convince the world theyre open for business. Liberalizing the debt and equity markets, trying to convince western investors theyre serious about stopping corruption. I think both sides have a lot at stake here and we expect the resolution to be nonviolent and that would be a good thing for markets. You certainly hope that chinese leadership would have the logical sense in a very vulnerable position to not jeopardize things too much from that huge engine thats hong kong. But, mark, from an advisory point of view, what do you say to clients, people who say, you know, im a little bit worried about hong kong and going on in the middle east and ukraine . How much do you put geopolitics into the equation here . Its significant. We are minimizing exposure to any International Asset classes, developed or emerging markets. You know, a lot of lowhanging fruit has been picked and more and more difficult for investors to really generate some alpha right now and we have to be more selective and what were trying to do is favor defensive stocks over cyclical. And were favoring large caps over small caps right now. So we really want to make sure that we are not necessarily underweighting ek tills thinking that the bull market has room to run and be selective and playing the good, solid defense right now. Rick, we havent mentioned the slide in oil this hour, although talking about it all day. The dollar hits a fouryear high. Brent and wti hit twoyear lows right now. What are you talking about in that regard and how much how much more juice does the dollar have right now do you think . I think the dollar has a lot of juice because i think the yen and euro are out of juice and in terms of what we pay for energy, obviously, i look at that as a positive but, remember, not everybodys on the dollar. Even though commodities are. So the japanese and the europeans above and beyond their slowing if not flat lining if not negative economic outlooks. Now price in much more Expensive Energy as they do the conversion the other way. And i think when it comes to china and hong kong i want to weigh in. You know, the fact that were advertising how many quarters have been positive, listen. The u. S. Investing landscape is kevlar right now whether people want to admit it or not, g geopolitics take a heightened strategy or not. The proof is that nothing seems to be able to derail equities. I think for obvious reasons and i dont see those reasons training wheels changing any time soon significantly. We also just want to mention taking live pictures of hong kong. About 3 00 a. M. In the morning over there right now but nonetheless the protests are continuing and i think whats of significance, bill, the fact that tomorrow is october 1st. Obviously theyre already october 1st over there, the 65th anniversary of the founding of the peoples republic of china. It is the umbrella protest. Raining there much of the night and not dampened the spirits of the protesters there. Chris, i mean, you feel this will end without violence of some kind but, you know, you have to admit the leadership in beijing has to walk a very tight rope because even though theyve been able to shut off communication in china itself, so if people are only relying on social media and the internet for information about whens going on in hong kong there in china, theyre not getting it but the rest of the world certainly seeing whens going on right now and very much a world issue. You know, how much longer does this go on, do you think . Well, i think it could be potentially protracted because we are talking about theyre fighting for electoral rights in 2017. I dont know that its a quick fix. Remember, two sides to this and its also our belief that despite what you see on tv, the people, you know, the Business Class in hong kong doesnt necessarily agree with, you know, with the wide scale protests and polls recently i think in the beginning of september that suggest that the majority of people dont agree with occupy central. So, despite the big headlines and the live video feeds we are seeing, hong kong has to have the in order for this to spiral out of control, hong kong has to risk everything their Business Class stands for and thats a pretty big ask. To go back to points that some previous guests made, i want to take the other side of a couple of arguments. We see greater opportunity internationally than in the u. S. One valuation in our belief cheaper outside the u. S. And, two, oftentimes, you know, when you get the worst news, thats when you get the best potential for markets. We have a tactical catalyst in terms of Central Banks generally outside the u. S. , this is europe, japan and increasingly even china being where the change in Monetary Policy is growing more accommodative than the states and we think thats the catalyst to trigger potentially over a few Years International rally. Its greater than the u. S. All right. Great discussion, everybody. Thank you very much to everybody on our panel. Weve got about 50 minutes to go until the bell rings. Currently the dow is looking a little bit soggy down and been a positive quarter. It has been. Not exactly the window dressing today you imagine on the last day of the quarter. Whatever. The men now at the top of the pimco making the case here on cnbc exclusively last hour. Street signs. About why investors should stick with them. Did they get it done . Did they convince investors throughout . Well ask two Financial Planners who have some money invested in pimco coming up. Also ahead, bill, ebay surging after announcing plans to spin off its paypal unit. The pros tell us if thats a good idea for ebay over the long run and we want the know which companys stock would you rather own . This is the poll. Paypal or ebay or maybe even both. You can stick around for the online poll coming up. Make sure you join in. A short time ago while we were talking to our guests, we had a whirlwind of energy go by here a moment ago. Broadway joe made his way on to the floor of the New York Stock Exchange. Hes signing footballs and other artifacts and pictures and kissing traders, as well. You can hear the excitement of that crowd. Well talk about the opening of his new Neurological Research center that bears his name very timely with the state of concussions and head injuries that were in the news lately in the nfl and a lot to talk about with joe namath this hour on the closing bell. Stay tuned. You want to be the best investor you can be. You want to cut through the noise of an overwhelming amount of analysis. [ all talking ] you want the insights that will help you decide which ideas to execute and which to leave behind. You want your trades executed in one second or less, guaranteed, and routed with institutionalquality technology. Look no further. Open an account and find more of the expertise you need to be a better investor. Minus signs, not big ones, though, closing the Third Quarter today. The industrial average down 26. It was down 54 but it was also up 73 points at one time today so its another volatile day here closing things out and you see all the major averages at this hour have minus signs here. Meantime, investors pulling a reported 550 million out of pimco since the departure of bill gross last thursday. In the last hour, the top executives at pimco came on cnbc exclusively on your show on stro street signs to make their case why people should stick with their firm. Heres some of what they said. Speak right now to the viewers and say, heres why pimco is still your best bet. I think the answer is very simple. Were focused on pimcos First Principles. The First Principles of investment process, delivering superior investment performance, and the highest standards of Client Service in the industry. And thats what pimcos about and thats where were going. Even though all of us have slightly different investment mandates, were focused on performance and very confident group that well be able to continue to give the return this is our clibts expect. The question is, were they convincing . Joining us now, rich coper and a member of the cnbc Financial Adviser council and david mendels. Both advise clients on where to put their money. So theres the question, rich. After listening to that interview, are you advising clients to stay or leave pimco . Right now, we are just staying the course. I think, you know, we are not taking a reactionary move. Not trying to immediately get out of the fund. I think it is on a watch list. Morningstar downgraded it today to a bronze level and make sure that the management continuity exists and we understand the flows that are outgoing and whether or not the liquidity is there within the fund but quite honestly, i dont think that one person has all the ins and outs of this fund or the company itself. I mean, its such a breadth and depth of that organization to stay with the investing of the Pimco Total Return Fund and we have confidence in that team. Okay. David, youre not so sure. You are taking a much more wait and see attitude in this regard, arent you . I think, you know, panic is always overrated as an Investment Strategy so im not doing anything precipitous but, you know, look. Bill gross is a smart guy but hes not the only smart guy there. Morningstar bond manager of the year last year, so theres some clever people still there. Waiting to see how everything unfolds. I have a note here that says you wouldnt be surprised if you were out of pimco by the end of october. Why . I wouldnt be surprised but im certainly not saying that im committing to that. Why wouldnt i be surprised . Turmoil is never a good thing and investing with a fund manager, you are hiring a jockey and the jockeys change so there is some uncertainty there. I wouldnt be totally surprised if i was out. But i wouldnt be shocked if i was still in either. The jurys still out. Im still looking. I think like rick. Im waiting to see. Sitting on the fence. Sitting on the side of the fence waiting to see. Rich, im sure youve had questions of the clients saying what about janus and should i maybe potentially move my funds there . What are you telling them . Right now im not telling them to move there at all. The fund bill moved over to manage is 13 million compared to 220 billion and we dont know who the team is or what the investment thesis is going to be at that fund. I think right now what ive told them basically to stay, stay within the current investments. Lets keep a wait and see approach. Lets watch and understand how this cocio or three of them that are managing this fund, how this transitions going to occur. I think sometimes you are stronger. Pimco might find that just having bill gross as a face of this fund was really the problem. And a lot of Retail Investors dont think beyond that and realize that theres depth to this organization. Theres 240some investment professionals that help with the trading ideas and the risks that are imposed on the fund. But you have to admit, rich, he didnt go out on top. The total return fund is underperforming the peers and not had the best years making bad bets on the Federal Reserve of Monetary Policy. No doubt about it. Thats absolutely, bill. Thats something that you have to with any fund, you know, not meeting a benchmark, understand why and either, you know, have conviction in the Investment Team to stick with it or pull the trigger and get out of it. Look. Theres people that have thinking that rates were going to increase years ago and we have been hearing it over and over and they havent so, you know, do you fault someone with years of experience for making a bad call or stick with them and look at the level of activity over decades of investing and say, you know, i still have conviction in this firm, this team, this management . Thats kind of a way i view it at this point. So no one has a perfect track record. This is high profile. David, lets help you form late which way you want to go here. For example, some people have been saying in the past maybe the fund is too big. Is it a potential to do a better job in a smaller form . Theres no question that that is a being oversized is always an issue. But they seem to have managed it. Last couple 0 of years have been bad and nothing works all the time and premature to figure out what happened. Less a matter of sitting on the fence than really trying to understand before we make a move. I think rick an ri pretty much on the same page in that regard. Youre not the only ones taking that wait and see attitude. Everybodys watching. People at pimco know that. Thank you. Appreciate your thoughts today. Thank you. Thank you so much. You bet. Heading toward the close, 40 minutes left in the trading session. The dow looks like it wants to turn positive. Down just seven. We were up 73. Down 54. So maybe were going out here with a gain. Who knows . Indeed. Wild swings today, bill. Major averages racking up a month of wild swings thanks to various fed comments, events in hong kong, middle east, russia, you name it. Find out whats worrying main Street Investors the most heading into the Fourth Quarter. Thats coming up next. Big day . Ah, the usual. Moved some new cars. Hauled a bunch of steel. Kept the supermarket shelves stocked. Made sure everyone got their latest gadgets. Whats up for the next shift . Ah, nothing much. Just keeping the lights on. laugh nice. Doing the big things that move an economy. See you tomorrow, mac. See you tomorrow, sam. Just another day at norfolk southern. But parallel parking isnt one you do a lof them. Ings great. Youre either too far from the curb. Or too close to other cars. Its just a matter of time until you rip some guys bumper off. So, here are your choices take the bus. Or get Liberty Mutual insurance. For drivers with accident forgiveness, Liberty Mutual wont raise your rates due to your first accident. See Car Insurance in a whole new light. Call Liberty Mutual insurance. Okay. What we have got is the dow turning positive. You have magic touch. You said it may still be positive. The color is green. The cos p 500 may be positive by the end of the trading day which is ever approaching us. Lots of movers, though. Dom chu is watching them for us. What do you got . Flat for the markets overall. He