The dow rocketing past 16,000, setting a new alltime high. Although the index did not close above that level, it is still setting its fourth consecutive record close, the seventh this month and the 309th this year. In short, stocks are on fire. Does this all feel a little too much like 2000 or 2007 . Is there a bus coming or a crash . Have we been here before . She is smart invesrs have for the hills . Coming together for our expert panel with uptotheminute advice. Founder of capitalist pig, a Portfolio Manager and chief Investment Officer and president and ceo of schaefer asset management. To you first, my friend. Is this up bubble just waiting to burst . This is nothing like 1999. I remember 1999. This octuplets were being. Were not seeing any of that these days. We are seeing is a bull market. Persistent. And as indicated by a new alltime high, it remains poise to move higher. Gerri on and on and up and up. What do you say . I think that it is a bubble, creating a bubble, the market is gone straight up. We have seen this before. Historically not the first time. There are too many examples in history with 1987, 1928, 1890. So many times the government intervened and caused this. Gerri i have been watching individual investors. They finally get wind of this. It put a full 34 billion into equity mutual funds in the last four weeks alone. Are they right . Where is this market headed . In the short run the market is probably headed higher. We are concerned iermediate because valuations are so stretched. We have been here before, dont think were in a bubble. The reason why we dont is because her if you look at where we are in terms of stock prices among we were as expensive as we are today from the late 1950s until the early 1970s. We have been here before. Gerri we have been here before, absolutely true. The p e ratio, 16 beck were looking earnings. Less talk about carl icon. The activist investor today. He is very cautious. He thinks this market is way, way, way too expensive. Why . Thinks that money is cheap and the companies are getting their earnings because money is cheap. What do you say . Well, he is entitled to his opinions. Market opinions. Everyone has one. Gerri what do you make of it . I am long stocks. Most people make the mistake, they make investing in all or nothing decision. Bullish at the top been bearish on the bottom. It continues to be hired. Having some equity exposure makes perfect sense. If you really understand the movements of the markets, we have never had this type of the market with this type of an interestrate environment. The formulas being used to create these assessments which everyone is referring to, pe, the ratios. They are all thrown off by the cost of the value of the money, the Interest Rate which is so that you cant see these models until what is really going on in the economy. This is not even a big issue. Gerri what do you say . Well, its more like a market of stocks. And there are parts of the stock market which are grossly overvalued. But gerri like what . Twitter end the social media. But there are great parts of the market which are at could valuations. Big Information TechnologyCompanies Trading at ten, 11 times earnings. That is attractive. You get paid 3 percent valuate. Some of the Big Companies are trading at evaluations. So there is still a decent value in parts of the market. Globally we have very attractive gerri norway, singapore. Jonathan wants me to put all y money in subs. I want to invest at home. How do i do that . Tell me. Go ahead. Its pretty simple. The idea is to look below of the rar screen. Not twitter, facebook. But stocks are doing well. I am invested in etf, a ashcake, e. G. P t f. Gerri oh, mlord. You cannot say their is a bubble. Gerri i dont even know if theyre hurting. One of the biggest issues is dead. Most people, their accounts, there are not in individual stocks. Managers of individual stocks that brought population does not do that. In the index goes up they go up with it. And they go down they go down just as fast. Gerri what do you say . At the end of the day Everybody Knows that the problem with the market right now is that the Federal Reserve is pumping money as fast as it can into this economy. Are they looking through that . Are investors looking through that and now saying, hey, even so, i really like these companies. Well, i think the reason why people are investing in stocks right now is that there is no other choice in their mind. Traditionally safe investments basically yielding nothing. Theyre yieldingg nothing by design. First was to save the big banks and then it was to get the animal spirits going. In terms of the speculative juices. And it has worked. Some investors have to be careful. There are areas town in this market that are attractive. Gerri i see what you are saying. It is how you choose what you invest in. I want to give you a comment from one of our viewers here says to evaluations due to of flood the markets with more printed money, not with the paper it is printed on. There you have it, very concerned about the impact of the fed on the market. What do you say . To what i do, short bonds. Go long stocks and sells short bonds. You can do that. Those go up when Interest Rates up. If you want to bet against the fed, dont bet against stocks. Bet against the u. S. Bonds that Federal Reserve policies are not officially artificially manipulating hired. Gerri a full disclosure, i am always invested in u. S. Stocks. It just depends how much. I want to know. Look, there are head winds out there. The s p is up 23 this year, down almost 20, nasdaq up 28 . I have seen this movie. I am not sure how against. The single biggest threat. Deflationary, prices deflating. One of the major firms set out a major sell signal. Prices start to collapse. The stock market will eventually collapse with that. Very dangerous. When they lowered their rates from and a half to 1 4 to make a big deal. Gerri what do you say . European stocks have continued to do well. Even a lot of those stocks from shaky european countries. Up 100 percent of the last year. What you want to look at is the trend itself. With the down at 16,000 the indication is that the trend remains higher. You will feel differently f15 five, but as long as talks continue to do well that trend remains pointed. Gerri where is the s p going . Where will it be at the end of 2014 . We will come back. I will defer to jesse livermore. There are no tops in a bull market. Gerri all right. Rounding a south. The voice of reason in this bull and bear debate. What do you say . Where are we going and what would be your advice . In the short one we are probably goi higher, but the speculative market, people should be sobered by the fact that threequarters of the increase in the market this year is because investors are willing to pay more for a dollar of earnings. Those earnings have nobeen going to beat the market is up 50 from a but earnings are only up 12 . But earnings have to come on stream. The market will go lower. Gerri you guys were great, just great. Thank you for coming on. A great debate. Love it. We want to know what you think. What is responsible for the market . The fed earnings were just exuberance . Remember that . Log on to gerriwillis. C, vote on the right hand side of the screen and i will share the results of the end of the show. Of course more to come including figuring out exactly what your deductible copay endo insurance what is that really . Next, stuck in a state of limbo. Health care insurers, the white house and consumers all struggle to figure out what is next for stay with us. 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There are some there is still no word on how president obama plans to rescue millions of consumers canceled Health Insurance policies will work or if it will work and all. The white house is working on another fix to allow insurers to directly sign up people who qualify for tax credits, bypassing the entire obamacare website. With more of this president of the American Action forum. Great to have you want. Thank you for coming in. I was blown away by this bill be now they will just have the insurers sell the insurance. Why didnt we think of that before . It is a great moments of iron not only did they finally acknowledged, but theyre also, the private sector can probably do as well as thecan which is provide income transfers for those in need. This is not a great day in an administration that has touted government over Market Solutions again and again and is finding just on the wrong side. Gerri and shocking to me how things continue to blow up even now. Of course we had in reaching out who was the cms deputy chief reformation officer saying everything would be okay. Here is what he said, committed to fixing the problems so that the experience using the federally affiliated federal and roman system and crews for the vast majority of consumers by the end of november 2013. Are they going to make that date . I have no idea. Of course it will improve. It is a very carefully worded statement. It is not working in all. They will make the estimable what they said is our goal, we want to work for 80 percent of americans. Well, that is just crazy 99 efficiency out of this. The 1 that can sign up by very special. Gerri of want to play this exactly how carneyaid this so our viewers can hear. Listen to this. It was never going to be that even with an error free, perfectly functioning website, suddenly every american or potential purchaser of insurance in the marketplace would make that purchase of allied. Gerri come on. It was never ever ever well. Gerri what do you think . I will say this about the administration. Across all policy areas, when they get in trouble the first thing they try to do is set expectations low. Working harder and it one more time. They have a big problem with the federal exchanges. There is an instructive experience out in oregon where no one has signed up yet and it is because they tried to have a single website do too much. There is something known as getting the right tool to fix the problem. That is with the private sector does well. The government is not doing well in this instance. Gerri we talked last week about how these insurers are being required to do the impossible. In about six weeks turn everything on its head. Reinstate these old policies which they probably cannot do at this point. They will have to change something. The d. C. Insurance commissioner gets fired for saying that, fired for saying the truth. What is going on . His firing is a tribute to the political process. The National Association of insurance baby and not sure how we can do this bill we did not clear it with the mayors office. Criticize the president. Now he is looking for work. Gerri that is ridiculous. As a public official you need to be able to tell the truth, tell the American People the truth which seems to be not a high priority here. One of the great lessons of this, especially for Younger Voters who have not seen the government, the financial market, the private sector to look at the d. C. Mayors office. There is system that does not actually get the tree down to the American People. Lets get the president s management problems. People dont sell in the website does not work. This is not a lesson in how great government is. It is a realism lesson. Gerri i think youre right. And on your realist list, what do you tnk needs to happen . What are you watching for in the next few days and weeks . We will have more congressional hearings. That will go one. In the background there will continue to make changes. What should we be watching for . People need to know the rules. I think the most important thing right now is for some clarity to be provided to those who had a policy. Maybe they can get it back. What happens to the people who did not have insurance . Today only by this stuff on the exchanges or can they get an older policy that is not compliant from an insurer and a lower cost . Until that is quite awake it is not obvious to is going to end up where, and the Insurance Industry is basically ms. We could end up with some very bad policy of comes here, not just political failures and communications failures. We could get people in that product if we dont fix this fast. Gerri my real fear is that we will be people without coverage, people who had coverage before, they end up having coverage, no way to pay for it. I mean, that is a tragedy. That is not about politics. That is about rlity. Absolutely. I could not agree more. The most important things, have the Financial Product called Health Insurance and allow it to give you access to quality care. We have the insurance problems right now. The next shoe to drop will be the quality of care under obamacare. You know, until we get both of those lined up we have a big policy problem. Gerri a long way to go. Thank you for coming on. Thank you. Later in the show, damage in the midwest from yesterdays storms. Many are asking why now. Next, we answer the question how you do that with some much confusion surrounding obamacare. It will try to clear up exactly what youre paying for. What are those big 3 words . Lets talk about that coming up. . . This is the quicksilver cash back card from capil one. Its not the limit the cash i earnvery month card. Its not the i only earn decent rewards at the gas station card. Its the nogames, nosigning up, everydayrewarding, kungfufighting, silverlightninginabottle, bringinghomethebacon cash back card. This is the quicksilver card from capital one. Unlimited 1. 5 cash back on eve purchase, everywhere, every single day. So ask yourself, whats in your wallet . Gerri will be a brandnew world how much will pay for your deductible endure copay, new york cardiac diagnostic center, welcome back to the show. Just doing a drill down the rest of us is right over our head. What about co pay is it . That is what the patient pays windigo to a doctor 20 or 50 a and there is 87 charge the patient may pay 50 up front which is deducted then if there is no insurance will be paid by the Insurance Company. You may have a planned 20 insurance that the doctor gets 150 from the Insurance Company they will pay 80 percent to lead to the patient will pay 20 percent is the patients responsibility for the insurance amount. That is after the co pay is taken off the top. Gerri naturally. That is the sharing of costs between the patient and the Insurance Company. In the past most did not ve coinsurance but we see more of that but depending on the platinum or gold the basic concepts of us sharing of costs the patient takes the bigger share also then you have deductibles. Gerri this is surely confusing because some of the obamacare policies carry big deductibles is. Up intel two or three years ago they had no deductible they started to increase those several years ago but if you go out of network, the network you will pay 3,000 in the insurance kicks in. Then if you go for a regular checkup that the m a call pay all that but you still pay the 50 co pay. It is confusing and i. Gerri we get those letters from the Insurance Company it is a laundry list what am i looking at . It says it is not a bill. Is the explanation of benefits it says that he went to the doctor he charged 350 but we only allow him to participate in3 insurance coanies will pay to buy dollars but you pay 50 and usually just try to explain the breakdown. So my suggestion if you have humanresources go to them to say what does this mean . You may pay a frontal lot of money before the insurance kicks. Rules of the drug stake in the networked you understand what you are on the hook for ian clearly you need to know the co pay because you or on the hook right away. My doctor was in the plan but because he did a surgical procedure that is out of network. So before you get anything done check with the secretary of might covered . Do i need a precertification . These are all the things you have to do to limit financial risk the. Gerri great stuff. You did not know you were on the dock for that . 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Gerri it was strange a rare late season tornadoes sweeping across the midwest leaving a path of destruction but why now at the end of november instead of the spring . Here with the news we have our meteorologist. Good to see you. Of. What a terrible tragedy. Gerri but shouldnt this be spurring . Typically that is when bc Severe Weather outbreaks but what people dont realize is the fall season typically in november you can see the primary season in the spring then in the fall a secondary season. Typically dont see the amount of tornadoes we saw yesterday the lates