And now i realize why people live there. Why do we live in the northeast . It makes no sense. Because of jobs. Good morning, g20 finance ministers are gathering in istanbul turkey. Here at home the employment market front and center. The Labor Department will release its latest job openings and latest Turnover Survey the jolt survey at 10 00 a. M. Eastern and on the earnings front dow component cocacola is among the names set to post Quarterly Results before the bell that means this morning and Pay Attention to currency as well. Well see how Unfavorable Exchange rates may be impacting cocacolas business around the world. Lets also tell you some stocks to watch this morning. Qualcomm agreeing to pay 975 million to the Chinese Government. This settles a 14 month long probe into alleged anticompetitive practices. The second gaps january same store sales decline 3 . Its a bigger drop than expected and that was above wall street consensus and then aeropostale shares soaring on the boost. Fourth Quarter Sales rising a bigger than expected 1 . Promotional activity was higher than expected but adding the company isering the a a clean inventory position. Lets get a check on the markets this morning. We have been watching the futures and yesterday you saw the dow down by close to 100 points. There are green arrows. This comes after we saw choppy trading in the afternoon. Stocks did close off their low of the session. The dow futures are close to 20 points. S p futures up by 2 points. Nasdaq up by 7 points. Yesterday we were following what happened so closely in greece. If you want to take a look this morning youll see that greece is rebounding ever so slightly at a gain of 2 after pretty rough headlines. Also cac is up by. 2 and if you check out what happened in asia overnight youll see the nikkei was down about. 33 . Crude oil is poised for what sit calling a relatively swift recovery because of all the drillers that stopped drilling but the group does not see oil coming close to returning to the highs of recent years. Wti is down by about 1 . If you have been checking out the bond market youll see at this point it looks like ten year is yielding close to 2 . 1. 991 . If you have been watching currencies, this morning it looks like the dollar is up against the euro again. The euro is all the way down at 11279. Dollar is also up against the yen at 11895. Goal prices are down. 1,238 an ounce. U. S. Treasuries rallies on worries but our next guest believes greece would be better on its own. Your point is greece might as well just step out of it. It might be better for greece but what does that mean for the euro . It would be better for greece because the amount of debt they have to service cant be serviced by that economy. Its not possible. For the euro would be close to a disaster because it would wreck the notion that nobody can leave the euro or the euro region. I think greece if they go back has the cheapest tourism in europe and would be fine to be honest with you. You put out something yesterday that interested me. It reminded me i was glad i was out of college but you have this whole equation that adds up to lower yields in america. Do you want to talk through what some of those are. I can tell you the formula but nobody is going to understand it but explain why this adds up to lower yields here in america. Certainly what is relative value which is the rv part of the equation and thats you have currently 16 of all the sovereign debt in the World Trading at negative yields. You have the yields in asia spa january and europe substantially less than american yields and overtime because not all money has a man date meaning not all money has to go to one place youre go to see european money and asian money flow in and buy our bonds and american bonds are going to equate with european yields and you have three issues in the world which are ukraine, greece and isis and we know from long, long experience that any time theres a flareup in these situations treasuries go up equities go down and i expect more incidents to come in all of those three areas. As a result if were looking at lower yields when it comes to the bond markets in the United States what do you think about stocks . You liked u. S. Stocks because you didnt think there was anywhere else to go. You sound like you may be changing your tone. Ill tell you what i really think is attractive now especially for Retail Investors and thats closed in funds. Both municipal ones and taxable ones. A lot are paying 8 to 9 on a tax equivalent basis. Some are higher than that. This is a time given what i see are earnings in declining fundamentals that what you want to get is yield and not worry so much about the depreciation so i would want to be in the closed in funds and capture the yield and i like that space very much versus trying to bet on something going up when i think earnings are going to be declining because of the strength of the dollar. I want to go back to the idea for a second which is to say i know what you think should happen. I know what you want to happen which is to say that greece should leave the euro. The question is what do you think will happen . How do you actually handicap the chances that that happens in reality. In reality i think the odds are 40 that greece either leaves or is forced out and 60 that germany, austria, the netherlands cave. I think it would be in greece best interest to do this. The one problem that is difficult to argue with here is what the current government ran on to win the election which is the end of austerity and how do they go back to their parliament if they dont stick to the platform they run on and i think thats very problematic but the odds are still less than 50 that greece will actually leave. Good morning. The treaty which bond europe together in 1992 makes it almost impossible makes it almost impossible for anybody to leave. We talk about greece leaving the euro. The process by which they would actually leave the euro would make the greatest hollywood divorce look simplistic and all the European Countries wining about greece and their problems maybe you shouldnt hate greece because it brings down the euro and makes your exports more competitive. Greece does bring some benefit to the euro zone, does it not . You can argue that though greece is dependent upon olive oil and tourism which is their main industry and something and in shipping you also have to say the treaty certainly is there but the issue isnt going to be a teety issue if it gets down to it. The issue is going to be greece defaulting on its debt. Theyve already done that. Well they have done that in terms of the private sector but now you have to look 362 billion is mostly held piano the ecb, the imf and Central Banks so its going to get down to if they cant service the debt or refuse to pay the debt thats when youre going to get into screaming, shouting. What happens february 28th . Do we run right up to the wire with this do you think . Absolutely. Well run it up to the wire and there will be hand ringing and threats and every other thing you can possibly imagine and treasuries will two up as a result of it and we havent begun to see yet the screaming and shouting thats going to take place. Greece is now demanding that germany give preparations for world war ii and what the nazis did to germany. Howell do you think thats going to play in germany not too well. It does show you how messy things are going to get. Thank you for joining us. Good talking to you. You too. Were talking activism this morning. An article suggesting that theyre questioning stock sales by dupont ceo. Exercised Stock Options and sold more than half a million shares valued at 38 million. I want to say this article is making a mountain out of a moe hill because these were part of a rearranged trading program. Its hard to make the argument that its based on news of the day. We also have a column in todays New York Times by a guy we know. I almost choked when i saw this column because i wanted to write it for fortune. You read my mind. I was going to ask you if you thought i lost my mind. I wrote a column in todays New York Times focussing on activism but this time on women in activism and the s p, namely the following people marissa myer ellen coleman, what do they have in common . They have been the target of activism or vocal shareholder. We have kyle bass on our show pushing for that dividend but if you look at it theres only 23 women that run s p 500 companies and at least a quarter of them have been attacked one way or another by activists. Is that a consequence or is there Something Else going on. Statistically its a little weird. Some of those women on the list i did enough research to start k look along the same lines. Its a little odd that so many female ceos have been attacked by activist investors. Thats not to say they dont go after the men too but you wonder if they think they have a little more sway when youre going after women on some of these things. Some of the women on that list, somebody like Larry Ellison at oracle who is still really the guy running the show on some of these things. I thought the same thing. Could be a consequence but something tells me theres a Little Something going on. Theres all sorts of interesting studies done recently including one out of the university of utah where they went to 222 mba students and show them a fake company, same financials. So one run by a woman. They showed a picture of a woman as the ceo. Picture of a man. Same backgrounds that they described of the huge people. Huge discount for the company that was run by the woman. And every activist i talked to i should tell you said no i cant believe youre raising this question. We only look at the performance thats why we would do it and you call some of the female ceos they dont want to talk about it. They want to be judged solely on the merits. Which i can understand. They feel like a story like this plays into the gender stereotype and one issue we didnt put into the column but people emailed and tweeted overnight about is the idea of not the Glass Ceiling but the glass clip. That some of these women i dont know if i believe this theory but theres an idea that some of these women have been put into companies that are in trouble or have a troubled situation and therefore theyre on the glass cliff in which case the cliff meaning they could go over the glass cliff. But i look at a mara y bara. She has been on the job a year and dealt with a crisis. Nobody gave her that job knowing the company was going to implode. At ibm you could peak the stock out when she took over. The company was so big. Its not her or anybody. It would take a magician to perhaps run the organization. You can probably look through a lot of these cases and explain why the activists in there. I thought the same thing you did. And behind the scenes you know that its such a big game of clashing ecos when you see activists go into a room like that. You also have to think the stereo types and the studies suggest that becky would fight me on this but that women historically may be more willing to compromise. May be less willing to fight. All the things that if youre an activist. But they also make better investors. Not that thats necessarily a bad thing. They listen to people around the table. So i did look at this idea that they make better investors. You should know this. Theres been lots of studies and we help them win theres weirds where women out perform the market and we say they make better investors, first of all its a toss up and the sample size is very tiny but women seem to make better investors when the economy is in a downturn oddly enough because they make less risk so even then its hard to generalize whether a female ceo is better than a man. Theres ten year periods where they clearly out perform the men and theres other ten year periods its a losing battle to make the measure but diversity at the top across the board always you get better performance. Not necessarily as the ceo but if you were to count the people within management. Meaning what . The more gender diversity at the top broadly speaking i think you could say that the studies suggest that you will have some form of better performance. That is true. All i know is having been to vegas or Atlantic City ive never seen any woman put all of her chips on the table. Bet it all on red. There you go. Good job man. Walk away. Coming up disturbing news on the u. S. Ranking far behind other countries in retirement savings. Plus the return of spiderman with a twist. A historic Hollywood Partnership but as we head to break heres a look back at this date in history. Is this from sex in the city this music . Were in shares. Which characters would we be . I wont go there. Well lets talk about some of the issues that caught our eye this morning. First up we have been talking about Retirement Security and where the United States ranks among the globe. If you think you havent saved enough for retirement youre in good company when it comes to the country. The United States barely ranks in the top 20. Thats right. We came in at number 19. We also beat out iceland but andrew guess what the number one nation was on this list . What was it . I dont know. Based on our recent travels where things can be spartan at times switzerland. Switzerland is number one which explains why when were there they have the right idea there. Saving and making sure they go for the retirement. How was it over there . Nice trip . It with was. But its spartan. What do you mean . Its a beautiful nation. It is but i think its where we stayed. We stayed at a former sanitarium. Thats appropriate. A former sanitarium. You might have made it a current one by your visit. By us being there. Joe got the smallest room. It was probably from here to there. He had a bed. He took a picture of it i dont think you would fit in it because it was short and really thin. You had to sleep standing up. Basically. It was beautiful but it made me realize they have the right idea. Theyre saving for later. But you guys are going to pebble beach later this week. Is that accurate . That is accurate. Shes going. Im going to be right here. Holding down the fort. They dont live as lavishly and spend as much money as we do. Without getting too serious on a Tuesday Morning americans homes are 40 larger now than they were 30 years ago. 40 bigger. The average car is 32,000 i mean my dad bought a porche in 1977 that was 5,000 brand new. Todays dollar that was the peak of the financial fortunes right there. That was the top. While were living so lavishly were not putting away for retirement. 20 of the respondents had not even begun putting money away. My point about the house is i think americans use homes as their savings. I think the idea is that can be a tricky plan if you have what happened in 2008. It is but, listen listen i completely agree with you becky but i think that when you talk to people theyll say well my home is my savings account and they look at homes as safe. You forget despite all the ups and downs and problems and people saying its a rig game or whatever the stock market is greatest wealth creator with an average return of 10 of dividends. Homes are not an investment. Theyre a money pit. Right. The advantage is you can live in it but youre right about larger homes. American homes have gotten 40 bigger than they were just 30 years ago. Wow. So i think were putting now materials have gotten cheaper but were putting our money into our homes. Real quick lets talk about this crazy email the james dolan email because the guy that sent the email that he called an alcoholic. And loser. Said im not looking for an apology. I want improvement to win a championship. He wants a title. Interestingly adam silver the commissioner of the nba that could have fined or said something said the opposite of what i thought he would do. He said jim is a new yorker. A back handed insult. Jim got an unkind email and responded with an unkind email and that was it. James dolan needs to be happy he has fans that still give a you know what. The guy had the effort to write in after this point after 20 years of misery as a knicks fan, you go back to late 90s, they were scrapping, those were incredible games. You couldnt get a ticket. Now i watched the miami game. They were in miami. Nobody cared. They found a way to snatch defeat from the jaws of victory and now theres fans that put up a website where theyre trying to force the dolans to sell the team. Do you think phil jackson will be able to fix it . No. No . They have the highest payroll of the nba. Its not that theyre not spending money. They have the second worse record. They stink. This is new york. We will leave it there. This is new york. On that note were going to talk about washington actually when we come back. Making his way to our new york city set. President obamas right hand man on the economy. Jason furman is going to set off a debate. No topic off the table. When we come back well talk to him but first as we head to a break a look at the s p 500 winners and losers. Tdd 18003452550 [ male announcer ] your love for trading never stops tdd 18003452550 even on the go. Tdd 18003452550 open a schwab account and you could earn tdd 18003452550 300 commissionfree online trades. Tdd 18003452550 so when a market move affects one of your positions, tdd 18003452550 schwab can help you decide what to do. Tdd 18003452550 with tools like free livestreaming cnbc tv tdd 18003452550 that give you the latest Financial News and trends. 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