1What'd You Miss?
here in new york with julian robertson. his microsoft financial engineering when they return cash to shareholders? say they don't tow what to do or how invest, why are returning so much cash to shareholders? microsoft has a and i thinkder that's why i'm such a believer in it now. it's probably number two in the cloud business. stock when you have a powerful engine under you is an awful good thing to do. great your own stock is a thing for a company to do. tom: you had to deal with the egos of tiger cub and you mentioned the new leadership of microsoft. what the esther ballmer get ofng in the 8, 9, 10 years malays? lise -- of malaise. whenn: the problem began mike: bill gates retired. you close your fund to outside investors, your returns dropped off because people that you were reluctant to get into the tech boom which turned into a bubble. what do you think of tech today and mark how have your views evolved? bubble, theseom a great tech companies are among the cheap -- among the cheapest stocks. the 60's andgle in 70's and early 80's would have sold between 50 and 80 times earnings.
are what we have learned, there is a massive divide between olivia blonde chart and julian robertson and on the other side, people like adam pozen and ken rogoff. is it a question, stephen gallo, of not negative rates but not having the courage and will to do negative rates the correct way? i don't know what the answer is to that question in terms of what is the correct way to do negative rates. i think there are different levers of monetary policy. on the regulatory, monetary and fiscal side that all may to work in conjunction. but one of the issues that we are faced with is that a lot of the decisions are not taken in coordination. they are not taken in coordination domestically from a domestic policy perspective and on a global basis. globalot taken in a fashion. particularly when global trade is weak, there is a tendency of national authorities to revert to turning inwards rather than outwards. and so this is the situation we are in. banks, idea that central despite the fact that there may be more central stimulus in the pipeline down the road, the idea that central banks will then s
interview with the blackstone president. scarlet: coming up tonight, we will be sitting down with julian robertson. this is a special on bloomberg television. you won't want to miss that. their of nike, extending losses. futures orders missed estimates. analysts were looking for a gain of 8%. those futures orders rising just 1%. "bloomberg." ♪ scarlet: i'm scarlet fu. "what'd you miss?" dollar -- have a deep deep dive on saudi stocks? tracy: i do. every single stock in the index was down today. that's basically on pessimism around the opec production freeze. we also had news out of saudi arabia saying that they were cutting civil servant pay as well as bonuses for government officials. that is all from the fallout from lower oil prices. how often do you see that? scarlet: zero gainers. tracy: the worst-performing stock today. of -- not speaking of anything, i'm looking at the percentage of people here in the survey that reported they intended to buy a washing machine. hitting its highest level since the crisis. they intend to buy a washing machine in the next six months. this is a big
television and radio, a needed conversation with julian robertson. julian robertson on mr. trump. ♪ tom: it is the outlier today, japanese yen. we are thrilled you are with us today. off thethat big rally perceived clinton victory in the debate. just a little bit in the last 20 minutes. japan-mexico -- we have never done yen-peso. there it is, even against the yen, the peso moving with a vengeance. francine? francine: coming up is "bloomberg
." alix is in the studio. i know you have a great show lined up. and you speak to former chancellor george osborne. yes, we will speak about the economy, the fed, and the election. george osborne is an exclusive interview talking about what brexit winds up meaning. but what are the implications? we will be talking with tom barrett. elections front and center. markets front and center. a supporter of donald trump. i want to get his take not only on the debate, but about taxes, about debt, about how donald trump would pay for his plan. tom: it has been a wonderful "surveillance" so far this morning. we will go on on the radio. we were just reminiscing
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