tv Countdown to the Closing Bell With Liz Claman FOX Business March 17, 2015 3:00pm-4:01pm EDT
casting a green red light, and the festivities don't end there, egypt lighting up the sphinx to honor the emerald isle. very cool, right? i hope you're making money. "countdown" and liz, take it away. liz: we shall, melissa, thank you. in exactly the one hour the polls close in israel for one of the most contentious and whisker-close elections ever. the outcome may have serious impact on any prospect of peace in the middle east as well as on business ties and cooperation between this country and one of our closest allies. we're live with a former israeli mayor from the wes bank who unbelievably is also a victim of a terror attack. you will be surprised at where he stands on this election. he'll get you the latest on the exit polls and the feel on the ground in israel. how old one of the most famous and well-respected lawyers defend this man, robert durst, the son of a wealthy new york real estate family suspected in one murder as well as the disappearance of his
wife? three words that robert durst mumbledded in private, will they add up to life behind bars and does it come down to having a legal dream team? alan dershowitz knows. ♪ i want my mtv. liz: and 30 years ago, 30 years ago -- yes, that's right, dire straits sang about wanting their mtv. they probably never imagined it could be streamed through thin air by a company named after a fruit that already saturates most of our daily lives. today we learned apple is planning its own web tv service this fall that will be smaller in size and cost a lot less than traditional cable tv offerings. shares of apple on the move to the upside by 1.75% on that move. it's the last hour of trade, so much to tell you. let's start the "countdown." ♪ ♪
liz: braching news -- breaking news, we are just under 24 hours away from what could be total armageddon or sunshine and rainbows for the market. actually, it's fed chief janet yellen's press conference. we're overdramatic eyeing because the markets are. way worse than expected housing numbers, dropping 17%. is that, is that number what may sway the fed's decision to drop the word "patience" or not drop it when it comes to raising interest rates? what's really wagging the fed? let's bring in the floor show. susan wachter, andy richmond, suntrust private wealth manager as well as trade earth at the new york stock exchange and cme group -- traders at the new york stock exchange and cme group. susan, february housing starts down 17%. how much power does that noisy and spotty housing data have to wag the fed, so to speak? >> i think it does have power.
it's certainly a pig surprise on the downside -- big surprise on the downside. much can be explained by weather, but not all, and it's that not all part that is likely to be on the minds of the fed folks today. liz: teddy, is it durable goods, is it a better employment number that makes them jettison patience tomorrow? >> liz, we live in the world of equities where sometimes bad news is good news, good news is bad news, i think the fed continues to be between a rock and a hard place. they're completely in, like, deers in the headlight with all these numbers. they change all the time. unfortunately, i don't think the fed knows what they're going to do, none of us seem to know what they're going to do. but, clearly, the anticipation is always exciting for the markets. i mean, up 200 yesterday, down 150 today. i don't know what yesterday was all about, and i sure don't know what today is all about. [laughter] very, very confusing. liz: thank you, teddy.
okay, andy -- >> the word of the day. liz: andy, i think fed knows exactly what it's going to do tomorrow with the word "patience," do you? >> i think they have an idea. i think they're looking to remove that word, but there's been gyrations, you know? we're in the month of march, we have the ncaa tournament going on with march madness, and we're seeing market madness happening on every word we're saying right now. so i think the fed does know, i think they're probably going to remove "patient," and they're going to raise rates sometime this year. liz: susan, which numbers do you worry about the? sometimes we have good existing -- actually we have bad existing home sales, but is there one number that worries you the most? >> absolutely, yes. liz: which is it? >> so the word "doubt" comes to mind. that is the question. i think there's more uncertainty, and the number to look at is permits. not that housing starts single family are down, but that
permits single family are down. that's a concern. liz: the permits. phil flynn, let's say they jettison the word "patience" tomorrow, and by the way, everybody's got to watch at 3 p.m. eastern -- 2 p.m. is when the press conference happens, and then, of course, the final hour of trade. let's say patience disappears, do we have armageddon or sunshine and rape bows with the market -- rainbows with market? >> we're going to have both. always remember that light at the end of the rape bow, there's always a -- rainbow, there's always a pot of gold. if they drop the word "patience," the market's going the freak out. we are expecting it, but it's going to be similar to when the fed started talking about tapering. there's going to be that shock value to to that. we will see stocks sell off. we'll see the bonds react as well. but then i think after that the market's going to get beyond that point that the fed is there, and now the focus will be on when they're going to do it. liz: right. >> really at the end of the day we're going to be data dependent and continue to be that way.
liz: okay. andy, when do they do it? june or september? this year? next year? >> we think it's this year for sure, whether it's june or september, i think patient probably comes out, and they may wait a little bit longer. i think janet yellen will be aware of the market reactions and what happened under bernanke in 2013 when the word "taper" got added, and they're acting now. the the market's been volatile, up big in january and down big in february. liz: susan, if janet yellen does not eliminate the word "patience," does she lose credibility here? is her entire foundation based on doing what she really has hinted she might very well do? >> i think the world is expecting her to drop that word. so i think the surprise would be if it comes back in. i expect we're not going to see patience. liz: not going to see patients. great to see all of you, and, teddy? >> yes. liz: you may be the one who's most correct here, but we will know tomorrow what happens.
[laughter] good to see all of you. teddy, andy, super, and it's just great to have -- susan, and it's great to have phil as well. the queen of the internet takes the stand. kleiner perkins has begun its defense in court against educations of sexism by -- allegations of sexism. the witness they dropped on the stand was a blockbuster, mary meeker. do you know her? okay. if you -- we started covering her way back in '97, '98. she's the famed internet analyst for mo began stanley -- morgan stanley, she's dubbed queen of the internet giving a very different view from ellen pao's on what it's like to be a female working at the prestigious venture capital firm. joining us for the latest scoop on the trial that everyone in silicon valley and san francisco is watching -- and us too because it's a huge business story -- is colleen taylor. you were in the courtroom today, what was the atmosphere like
when mary meeker took the stand yesterday? >> yesterday, yes, mary meeker took the stand, and one thing that they've been saying about ellen pao over the course of this is that she wasn't able to own the room, and it's important for someone to own the room to be a good venture capitalist. and mary meeker absolutely owned the room. she was very charismatic and really forthcoming about her experiences. liz: okay. she owned that room, and she was saying that ellen pao couldn't own the room when it came to pitching start-ups to the other partners at kleiner perkins, but she's simply saying it was ellen pao's lack of ability that got herred and not the fact -- that got herred. what did you hear that changed your mind or solidified what you thought? >> i'm trying to stay impartial here because we still have something going on -- liz: okay. >> but a lot of the allegations was that ellen pao wasn't invited to certain things and wasn't included in certain meetings and events, and pao's case is that she was a female.
mary meeker shot that down in a lot of ways, though, because she was invited to a lot of these events, was very included and respected at the firm and, of course, or she's also female. so what kleiner's really saying is elle an pao's reason she didn't succeed was because she didn't measure up. liz: here's a quote. among the things mary meeker had said during the trial, and it is this one: liz: she has also been known to say - and this wasn't at the trial necessarily -- but kleiner perkins, here it is, the nicest, sweeters, tamest place. a totally different story from ellen pao where -- and even mary meeker had to admit that there was a partner there, a partner that ended up having an affair with ellen pao, and mary meeker
had to admit that she heard from another female at kleiner perkins that this guy had hit on her and that was not a good situation. so there are things going on at kleiner perkins, let's be honest. >> absolutely, there are things going on. and to its credit, it did fire this partner in question as soon as an investigation had found that these claims were true. but, you know, it could just be that there is this culture here that was too slow to react to those sort of complaints and that it's harder for women to get ahead in the venture capital business. that's what's really at stake here. liz: colleen, did you notice any changes at all, and how engaged were the jury members? >> i think the jury was very engaged in what mary meeker was saying. we're in the fourth week here, but what's been interesting is they've been able to ask some questions, and i think the jury is showing they're very, very invested in this case, so it'll be interesting to see what their verdict is here. liz: well, we will see when the defense rests. colleen, thank you so much. she's been in the courtroom. colleen taylor with techcrunch.
i'm telling you, this is the case everybody is watching out there, and we will continue to follow it. the closing bell, 49 minutes away from now. will the fate of one of the most colorful and wealthy murder suspects hinge on three words, three words he muttered to himself alone in a bathroom? famed criminal defense lawyer alan dershowitz says he's got a pretty good idea. he shares that with us exing collusively -- exclusively next. and can't quite remember who sings a particular song? you shazam it, right? but what about a piece of clothing or some jeans you see on the street? somebody's wearing them, run up and shazam them? jo ling kent live at sxsw where one of the top execs has got the down low. you've got to see et. ♪ ♪
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will it take a bite out of paypal or maybe apple pay? you have to stay tuned. facebook shares are moving slightly higher, but this is awfully interesting at a time when everybody wants to beat apple pay, and everybody else who's involved like level up, here comes facebook in the mobile payments world. speaking of which, i'm heading to harvard tomorrow. i'll be bringing you exclusive coverage from what is being called the woodstock of mobile money. face it, mobile payments are the hottest advancements right now. the innovation project at harvard, payments, will be brunging together all the movers and -- brunging together all the movers and shakers. we have a top official to talk about fed's plans as well as money gurus from samsung. samsung, of course, going head to head with apple pay, and we have intel working to get you to pay through wear ables. a fox business exclusive on mobile money from harvard tomorrow, you can't miss that.
we have about 44 minutes until the closing bell. as we mentioned, apple wants to change the way you do money, now it wants to change the way you watch and consume television. the tech giant reportedly talks with program ors -- yeah, the networks, right? -- to launch its own online streaming tv service. but according to "the wall street journal," not all broadcasters are in on the deal. nicole petallides, a whole bunch of them, though, are. >> well, it seems as though they're moving forward with this. of course, the whole idea of apple tv was fuzzy for years. it seems to be more clear now, looks like it's coming together for original content, web tv launching this fall possibly. they've been talking to walt disney, cbs, 21st century fox and other media companies trying to put together a bundle. in fact, the new service will cost roughly, they're shooting for $30-$40 a month. now, it seems that some of the providers are not really talking. we do have some of the names up here, abc, fox, cbs, hbo and
netflix. they do have a deal with hbo now service, but they are going to be offering this in the fall. so this is, obviously, a much more clear picture than we've ever had before for apple. liz: yeah, okay. yes, glaring omission there is nbc. comcast, we'll see, comcast/nbc. thank you so much, nicole. we have the closing bell ringing in 42 minutes. is that where we want to go right now? okay. this -- sorry. one second. we have more -- this is breaking right now. we have more dirt in the durst case. real estate heir robert durst is being held in new orleans where he was arrested on saturday for possession of firearm and now marijuana as well. durst is going to be extradited, you knew that, tried in los angeles for the 2000 murder of susan berman, his friend. now, he was acquitted in the murder of his galveston, texas, neighbor in 2001 although he dud
admit to dismember -- he did admit to dismembering the body but said it was self-defense. what will save him in this time? and now there's new evidence. this is not the fist time the rich and famous have been in the mudst of a murder trial. klaus van bouloute e was famously acquitted, in '95o.j. simpson was found not guilty in the murder of his wife. the outcome of this case might also come down to great lawyering. the lawyer who worked on both those cases, alan dershowitz, harvard lawyer emeritus, with us live now. great to see you, professor dershowitz, and i begin with this: we have some overwhelming, maybe not i don't know, you tell us, evidence that came out on robert durst where he apparently went into a bathroom with an open mic while he was shooting a documentary and reportedly said some very important words. let's play those words first, and then you -- with your legal mind -- tell us, is it
admissible? here's what he said: liz: "killed them all, of course." you call this a bathroom soliloquy. will it be admissible? >> well, this is rare. in real life people don't generally talk to themselves and make admissions, but this guy apparently did. everything will turn on the admissibility of that statement. if the statement comes in, then all the other evidence will be seen by the jury through the prism of a confession or an admission. and if it doesn't come in, remember, the jurors will not have seen the tv show, "jinx," hbo. they will just see the evidence that comes in sporadically, and they'll probably have a reasonable doubt. so everything turns on the admissibility of this so-called
admission. and the law is not clear. in 50 years, i've never seen a case like this where a person talks to himself having been micked, having -- mike'd, having con sented to being mic'd but probably forgetting the mic was on when he went to the bathroom. he has great lawyers which, certainly, might incline one to bet in his favor. but judges will make the decision. remember he says "killed them all," which means he's opened the door if this comes in to evidence of the other crimes as well, the ones for which he will not stand charged which will make it much, much harder for him to be acquitted if the jury hears about those other cases. liz: you've been before enough judges, professor, will it be admissible? can you throw out a best guess? >> well, my best guess is that it will be admissible, although i think there's a strong case to be made for it not being
admissible. for example, if they can show that the government worked together with the filmmakers and kind of set him up in a way, that would be an argument against its admissibility. if you can show that he had a reasonable expectation of privacy, didn't realize that what he was mumbling would become part of a public record or available to the police, he would have a shot at winning. i think anybody who tells you that they know for sure how this case will come out on admissibility is selling you a bill of goods. this is a new issue, a case of first impression. good lawyering will determine the outcome. i hope they have the right hours to make the kinds of constitutional and legal arguments that will determine the outcome of this case. liz: okay. now, will it matter at all that this soliloquy in the bathroom, as we're calling it, was conducted in conjunction with the lapd? you know, the documentarians
have let the lapd know they have that and that they also had the letter. we're talking about a letter he had written and then a letter that the murderer had written sending it to the beverly hills pd where the word "beverly" was misspelled both times, and one letter was written by somebody who would only know that there was a cadaver in the house. and i just looked atta at one point in the documentary, they ask him can you pick out the one you wrote that had your return address on it, and he couldn't, alan. >> uh-huh. liz: is that more strong than the bathroom soliloquy? >> i don't think so. i think the bathroom soliloquy will determine everything. now, if you could show that the police really set him up and essentially told the film producers to keep the mic on so maybe we'll overhear something -- i don't think that's going to be what happened. i think it's going to be a complete accident. guy went to the bathroom, forgot
he had his mic on. how many other public figures have said embarrassing things when they thought the mic was off, but the mic was on? remember all of those things have happened over the years, but nobody has ever admitted to multiple murders before when the mic is on, and he thought he was just going to the bathroom by himself. liz: yeah. >> again, in real life people don't talk to themselves. in shakespearean soliloquies, hamlet's to be or not to be, this is did i kill or not to kill? liz: or macbeth's wife, there's your evidence. again, as you look at this if you were his attorney, alan, what's your best defense? >> my best defense is that he had a reasonable expectation of privacy, that the constitution doesn't permit the police to work closely together with filmmakers to elicit incriminating ed and also that the statement itself may not be an admission.
it may just be they're saying i killed everybody, yeah, i i killed them all. you have to put it in context to make it seem less like an admission and more like a kind of statement about what's in the air and what people are saying he did, make it into an irony instead of an admission. it's going to be a tough sell, but it's doable. i think you have good lawyers on both sides, and it depends on the judge. the judge may very well rule it's inadmissible, may rule it's admissible, may rule it's partly admissible. a judge may say everything comes in except references to the other crimes. we're not going to let the jury hear that he said "i killed all of them." we're going to cut out that part of them and have him just say, "i killed." nobody can predict because it's a case of first impreg, and a remarkable, amazing case. liz: like you said, you've never seen anything like it. alan dershowitz, we so appreciate you coming on exclusively. thank you so much. >> thank you so much. liz: and alan saying it will be
admissible most lakely, although it's very -- likely, although it's very tough to say. the bathroom soliloquy will be the best piece of evidence here, not the letters. can't name that tune? shazam can, and a top executive from the company will do a can't name those jeans? shazam can. live, sxsw to talk about how it's going beyond just tagging those hard-to-remember tunes. and polls close in israel hess than an hour from now. the race for the next leader of israel simply too close to call. we'll ask david rubin, the former mayor of a town called shiloh in israel. very close to the west bank. he is also the author of "sparks from zion" about the high stakes election that could affect the future of the middle east. ♪ ♪
and this year sxsw all the rage, it's how mobile is fueling the retail revolution right in the heart of the action, jo ling kent with one of the biggest apps jumping on the band wag gone. hi -- bandwagon. hi, jo. >> hi, liz. i'm in the heart and center of downtown austin, sxsw. this is where people come to gather, to meet, to hang out, make deals happen, talk about the future, pitch a start-up idea. one start-up that has definitely covered a lot of ground is shazam. so much competition right here at sxsw, i had an exclusive with the chief product officer, daniel danker, and i i asked him why they're getting into retail now with brick and mortar stores. hearst what he had to say. here's what he had to say. >> all of the retailers are really interested in taking the physical world around you and connecting it to the online world. so we deliver tremendous value to them. they all struggle with the
common challenge which is the average user only puts 25 apps on their phone. if you're going to come out with a new app, you're competing with 25 that are already on everybody's phone, can and that's a very difficult challenge. what we offer to people is shazam is already ubiquitous. so we enable retailers to create their experience tailored to their products. but without having to go through the process of building and deploying an app to hundreds of millions of users. and that value exchange, i think, will translate into a really good business model for us. >> now, of course, shazam a very popular app here. it is facing more and more competition. we're waiting for the next song to come on so we can actually show you how it's actually been working very well here at sxsw, but it's all about mobile. it's all about increasing -- actually, oh, there's that song. hold on, let me try this out. it's shazamming as we speak, and it looks like we will have a song here shortly, but as i'm waiting for that, you know, music really is what the heart
and soul of sxsw is s and it's still trying to catch that tune for you, liz. we expect a lot more growth in the future. in fact, i talked to the chief product officer about that, and he says it will be good if an ipo actually happens, and we are still listening on shazam, it's hard at work here, liz. liz: i can't hear the song, but what is it? >> we're working on it. it's so crowded here, liz, it's so busy. it's hard to hear. liz: looks like fun. it is sort of a hip new thing. yeah, silicon valley to shame. jo, get back to us on the song, thank you very much. jo ling kent. speaking of all things mobile, as i mentioned, it's happening at harvard. tomorrow i'll be bringing you exclusive coverage on what's being called the woodstock of mobile money. face it, mobile payments the hottest advancement right now. we're bringing together the movers and shakers in mobile payments, stuff that you haven't even heard of right now, including how the federal reserve on the big fed day plans
to move money. it's a fox business exclusive. i'll be there. are you moving your money through mobile? this is the thing, everybody's going at some point. looks like that. closing bell, we are 27 minutes away from the future of israel and possibly the future of the middle east. that's what's at stake in today's election polls. they close, as i mentioned, now it's 26 minutes. benjamin netanyahu trail anything the last opinion poll -- trailing in the last opinion to main rival isaac herzog of the zionist movement. what will decide in the election, economic prosperity, security or? and on a lighter note, if you're looking for the luck of the irish in your portfolio return, our fund manager coming up has some picks that could turn into a pot of gold for you in your rainbow portfolio. stay tuned. ♪ ♪
liz: we've got a news alert right no. forget pacquiao and mayweather, the real match up you've been waiting for? mitt romney and evander holyfield? you heard me right. the former republican presidential candidate will square off against the fife-time heavyweight boxing champ on may 15th in salt lake city with all proceeds going to charity. will it be the fight for the ages or another knockout for the presidential hopeful? and we hear a british royal is job hunting, prince harry
leaving the air force in june. he says quitting the army is, quote, a really tough decision but but he's looking forward to a new chapter in his life. and prince harry's not the only one moving on. brazilian supermodel giselle bundchen is retiring from the catwalk after brazil's fashion week next month, but don't despair, the world's highest paid model and the stunning mother of two and wife of quarterback tom brady of the patriots will continue flaunting her famous curves for print campaigns. start a business. come on fox business, giselle. can't see enough of that, right? israel's polling stations are just minutes away from closing. there is still no clear winner. this is supposed to be heavily voted here. a big turnout. how are israelis feeling right now? what is the atmosphere in the streets? joining me live now from tel aviv is the former mayor of shiloh, a west bank town, and author of "sparks of zion," he
is david rubin. thank you, she. shalom and, first, give us a sense of how it feels on the ground there in israel right now. >> well, thank you. thank you for the invitation to be here, and, well, things are very hot here. a lot of tension in the air. this is a very, very close race going on right now, and we may see the results within a couple of hours, but we won't really see the results perhaps for several weeks. because israel's a coalition democracy, and it's very possible that the party that wins the most votes will not be the party that forms the coalition. liz: right. benjamin netanyahu has already had three terms. he is up against isaac herzog of the zionist union group which is more left-leaning, of course, net netanyahu, right-leaning. where do you stand, sir, and i bring this up because not only
have you been mayor of shiloh which is a very hot spot, but also you and your son were victims of a terror are u.s. attack. you were -- terrorst attack. you were both shot. and right away i would think you might believe you'll go with bibi netanyahu. where do you stand? please tell our viewers. >> well, as you said, my 3-year-old son and i were wounded in a terrorist attack. we were ambushed by islamic terrorists. i was shot in the leg, my son was shot in the head, and so, yes, we've experienced the terrorism personally, and we've seen so many families like that in our communities in sumeria which is, as you said, the northern part of the west bank. well, i tell you this, we as a country and we as a people are urgently in need of security. we can -- we're surrounded by
isis, we're surrounded by hamas, we're surrounded by hezbollah, and we're a country that is barely the size of new jersey. so we can't afford to play games here. we can't afford to try and play tippy toe games with islamic terrorists that are trying to kill us. and that's the issue here. prime minister netanyahu and -- liz: go ahead. >> prime minister and netanyahu and the right wing in israel is much stronger on the issue of security and on protecting the survival of the state of israel. liz: economics, though, are extremely important as well. you know, there are so many publicly-traded companies here in the united states that have been founded by israelis. i mean, you've got sodastream, stratus, so many run by israelis even. we love israeli businesses. they're amazing. we have a good business relationship with you guys. you know, you've got an
unbelievably focused and motivated work force. intel is there. they set up an operation there. yahoo!. you just go there, and you see all of these companies, you know, applied materials. that, too, is important, is it not? who stands better on that eshoo? -- on that issue? >> well, liz, it certainly is important and in many ways the right wing are analogous with the republican party in their belief of free enterprise. netanyahu is an mit-train ared economist, and it's very important to point that out. if herzog and the left wins in israel, well, you're going to see more of the high taxes and excessive spending and the socialism that got israel into its original economic mess. i'm very thankful that netanyahu has brought the free market and competition to the country, and i -- hopefully, if he wins and if he manages to form a
coalition that is right of center, then we will see more of that free market and free enterprise. liz: david rubin, former mayor of u shiloh and author of "sparks from zion." it's a pleasure to have you. thank you very much. get to show off my 13 years of hebrew, that's all i can say. >> thank you, liz. liz: you're welcome. thank you so much. the closing bell ringing in 15 minutes. in new york today it was all about wearing of the green, but for us it's all about making green. of we've got the st. patty's day portfolio pick for you. yes, the four leaves of that good luck four clear clover coming up. -- four leaf clover coming up.
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tonight. fox business' new hit show "strange inheritance", the great, great grandson of confederate general george pickett swindled out of his inheritance of civil of war artifacts. where are they now? >> he leads the most famous charge in american history. >> i am standing right on the site of pickett's charge. >> you're crossing hundreds of men, but it made him immortal. >> he leaves his descendants with a suitcase full of heirlooms. >> do you want to take a lot? >> i really would. >> then a fast-talking conman comes to town. >> he dressed well, he was glib of tongue -- >> forcing the general's heir into battle over his "strange inheritance". >> what was your reaction? >> i was pissed. it began to dawn on me that i had been really, truly ripped off. liz: what happened here? "strange inheritance" airs monday through thursday, 9 p.m. eastern on the fox business network. true hi fascinating story -- truly fascinating story, you've got to watch it. it is, of course,
st. patrick's day. before you head out the door to celebrate, just take a moment and listen to because we are about to unveil bag pipes and all, the best buys for your portfolio. joining me now with our lucky money clover is miriam kessler, portfolio manager and equity research analyst with $3 billion in assets under management. how are you sleeping at night these days? triple-digit gains, losses the next day, bouncing up and down with the s&p. >> well, our style of management loves volatility. we get a chance to trade around positions, buy stocks at low prices, semithem -- trim positions at higher prices, so we don't mind, but it has been quite different than the last, e seen pretty unprecedented straight up, you know, markets. very, very strong. liz: yeah. when you smooth out the bumps, it really does look very good. how to you pick the lucky
clovers in your portfolio? what are some of the strategies you use to puck a name? >> we're looking for unloved, underfollowed names that are selling at discounts to their intrinsic values. so we're looking for those diamonds out there -- or, rather, gold would be more appropriate today. [laughter] trying to find those companies that offer both a cushion of valuation cushion as well as a great deal of earnings, cash flow, return on investment capital opportunities. liz: what do you mean with a disconnect between stock price and earnings growth? they're growing so quickly, but the stock price isn't? >> yes, and newmont mining is a perfect example of this. the price of gold has fallen substantially since 2011 -- liz: yeah, the miners are getting killed. >> 35% or so. but the price of newmont mining has fallen more than 70%, so a real disconnect between the commodity and the price of the stock. liz: okay. that is the first leaf on your four-leaf clover. let's get to the second leaf of
your four-leaf clover, and we begin with -- and, again, at&t of all ones? this is amazing. you also like dividends, too, and that would be a dividend play. >> yes, we do. we like companies that are in the process of remaking themselves and transitioning from one business model to a new, updated business model, and at&t is doing that, leaving behind just the wire line, wireless business and diversifying into broadband and in a -- liz: do you like the merger with directv? you like that merger? >> very much. it's very much a positive. liz: got to throw a little entertainment into st. patty's day, that would be viacom. >> yes, indeed. and one of the premiere content companies. there aren't that many of them. there's a lot of debate about how to distribute content, but those companies that are creating it are really in the driver's seat. liz: okay. the fourth leaf in the four-leaf clover, allegheny financial? what's so great -- [laughter] sell us on this. >> it's a very underfollowed, extremely well-run, little bit
like a berke sure hathaway. liz: okay. >> very similar in the style of management. it's had five ceos in existence and has -- is trading right at book value. there's very little in the financial sector that has a solid balance sheet, great cash flow, a very good franchise that's selling at book value. liz do you worry about a correction? >> all the time. liz: really? >> all the time, yes. and that is to be expected. we've had an extraordinary six years of a market increase. and, again, there has been volatility along the way, but it has been a very good market. we're going to see a recession someday, we're going to see corrections, and people should be positioned with those stocks that are going to not only survive, but will thrive. liz: well, it's just a fact of life, recession -- >> yes. liz: -- and correction. it's great to see you, thank you. we're going to put all of mary ann's picks up on facebook.com/lizclaman. mary ann kessler, becker capital management portfolio manager and equity research analyst.
closing bell just over five minutes from now. the nasdaq and the russell 2000, they're bucking the trend. they're in the green. can the s&p do the same? it's, oh, so close. and now less than five p minutes before the polls close in israel in what may be one of the most closely-watched and most significant votes in recent history. we take a look at what's at stake with two top israeli businessmen. and i'm heading to harvard. tomorrow i'll be bringing you exclusive coverage on fed day on what's being called the woodstock of mobile money. face it, mobile payments, it is the hottest topic. facebook in this hour broke news that it's going to make it easier to shift money between friends. the innovation project at harvard bringing together the movers and shakers in mobile payments including a member of the federal reserve who wants to move money for the fed and the banks. stay tuned. i'll see you from harvard. but coming up, it's "after the bell" with david asman and myself, so don't go away.
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liz: okay. so we had the nasdaq staying in the green for much of the day but it has been a tough go, david. david: it has indeed although it was down further but looked like even the dow was going to make it in the green but towards the end of the day it is trading down between 125 and 130. liz: let's see what nicole says. down at new york stock exchange looks like stocks are unable to rally for a second day. that is not a big surprise. we've seen up, down, all around but two big industrial names hitting the dow. >> it is really tough. we're seeing triple-digit losses. we're waiting on the fed. a lot of nervousness. dupont and caterpillar, dragging the dow. dupont downgraded from bank of america this week. there is a lot of pressure and a lot of sectors with down arrows. david: not so for our friends at apple. they are up on apple tv news. >> right. apple tv news. they will be moving forward with that in the fall.
don't forget they're going into the dow jones industrial average after the close tomorrow. [closing bell ringing] liz: here come the bells on wall street. we are just a day away from the big announcement by the federal reserve whether the word patience will be jettisoned. david: one word. >> a lot of nervousness in the markets although the nasdaq and russell seeing gains. we'll see how this settles. david: not a bad for a split decision on st. paddy's day. "after the bell" starts right now. ♪ david: so let us break down today's action. we have brian boyle from boyle capital. he is worried about the length of this bull market but says there is still one sector investors should buy into. tom lieden is telling us how he is changing his investment strategy. tom chadwick, big picking one area of the market you never heard of or considered anyway.