tv Wall Street Week FOX Business March 12, 2017 9:00am-9:31am EDT
be sure to send me your questions or property stories at email@example.com. that's it for today. i'm bob massi. i'll see you next week. ♪ important book "what the deep state gets wrong." >> announcer: the new "wall street week." maria: welcome to "wall street week," the show that analyzes the week that was and position you for the week ahead. i'm maria bartiromo. tony robbins will join us in just a bit. but first it was a busy week from main street to k street to wall street. the big event was the jobs number friday. the u.s. economy added 235,000 new jobs in the month of february. the unemployment rate kicked down to 4.7%. it looks for conatiothat
the fed will raise interest rates next wednesday when it meets. there is a 90% chance of an interest rate hike at that meeting. the industrials snapping a 4-week winning streak. other big headlines moving the market. the republicans rolled out their noon replace obamacare. the bill facing tough criticism from conservatives. it does eliminate most taxes from obamacare, especially the ones targeting investors, the white house and house speaker paul ryan pushing for repeal and replace by april. snap's first full week of trading was not a good one. snap falling to its post ipo low. the european bank stressed that
election results in ther some of the e.u.'s biggest economics like france and germany could cloud that rally. bank america's global wealth and management financial advisor joins us now. the big event for the week was the jobs number out on frida the jobs numbers were bert than expected. how would you characterize it, chris? chris: i think goldilocks' cousin just showed up. we are in a late cycle phase where the fed will have to start getting going it looks like the march meeting is live and it's almost assured they will move. is it three times or four times this year. we see good inflation come in
which what else we are seeing. and nominal growth is rising, and you have got this profit cycle continuously moving ahead. the jobs number friday is telling pulse small business jobs are growing. maria: small cap stocks did not perform well? >> i think they got ahead of themselves. some of the passive flow is forcing it into the larger cap arena. from this point fort small catch is the area of the u.s. market we've should focus on. with a half a billion portfolio with marginally fixed income. an increase in interest rates will have an impact. >> it absolutely will have an impact. the fed will make their move next week. the fed is probably behind the curve.
i think we'll see a series of increases and there will be pressure on bonds port foal yoafs. i'm t as enthusiastic about certain elements of the stock market. but in fixed income i think we'll see an addressive move by the feds. -- an aggressive move by the feds. maria: we see the federal reserve raise interest rates that launches expectations of more hikes to come. chris: i don't think anyone should underestimate the impact interest rates have had on this bull run. i think we are in the late innings of this run. i think the monetary policies and shifts will become from a tail wind to a head wind to market. what's replacing it is the fiscal stimulus. he won't have the same favorable
back drop that we had for almost the last 8 years. maria: that's what's been sending these markets higher, right, chris? it's going spur economic growth. how important is the timeline? if we don't see tax reform happen by august of this year are we looking at a major sell-off in stocks? chris: what do we get tax reform by august? like the secretary of treasury said or the framework of it? you can look at tonight three ways. the first movement of this rally going back before the administration's move coming in was profits. we hadn't had profits for five or six quarters. then we started to get profits. and then animal spirits take over about fiscal stimulus whether it's tax reform or
stimulus packages. maria: there is a bid on market now. if we don't see those policies materialize that bid goes away. chris: profits will still go forward. the profit cycle is in a sweet spot. we are starting to track triple digit growth. maria: thank you very much. "wall street week" will be back with a special guest. stay with us. >> announcer: one of the most successful businessmen in history is dishing out about his secret to success. maria goes ononononon this is the silverado special edition. this is one gorgeous truck. oh, did i say there's only one special edition? because, actually there's five. ooohh!! aaaahh!! uh!
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renown businessman, and author. tony robbins is known as probably the most successful life strategist in history. he has written 6 best-selling books. at his core and more than anything else tony robbins is a businessman. he skipped college. he now leads an empire worth $4 billion. plus his net worth estimate at half a billion. and his latest book, scw "unshakeable" just made the new york times best sellers list. good to see you. when i was talking to friends that you are going on. they said i live and die with tony robbins said. i will follow that man in every business venture and everything he does. tony: i'm very privileged. what you practice in private you
are rewarded for in public. i have been doing this for 40 years in 100 countries. at this point i would have to be an idiot not some see their patterns that make you feel frustrated, angry or loved. i get phone call when the athletes fall or the child is suicidal. we made a documentary about it titled "i'm not your guru." president clinton calls me and said they are going to impeach me in the morning, what should i do? or serena williams is melting down, what should i do. because of doing that with so many people, i get a chance to reach so many people. when i walk down the street people shout at me how i changed their lives. but that's today and you know that.
but you were -- you had a cash strapped upbringing. you had modest upbringing. how did you do it? talk to us about how you achieved this massive empire. >> i have always been a lover of people. i had an intense mother who is a good soul but used alcohol and prescription drugs, so she was suffering. i think having your head pushed against the wall or having soap pushed down your throat because they think you are lying until you throw up. i read 700 books on human development and i was the guy who was extra motivated. and in business i realized
unless i could build a business that could reach people. i was an artist, not a businessman. i bought a resort in fiji and built it up. and it just grew. anything i bought could touch people's lives. but i only run 12 of those actively. the rest is as a passive investor. but along the way i can feed 100 million people a year. 250,000 people a day in india. we provide fresh water to because kid get killed by water-borne disease. i'm part of underground railroad group. former cia, f.b.i. guys. we went in and did this sting operation where we freed 36 girls, 9-13 years old who were
attached to beds, chained, having sex with men. there is more slavery today than there has ever been in the history of the world because the population is so much bigger. those things i can do because i have become successful. maria: the quote the way i started, i decided to pay myself first. but but answer that. when you invest in these companies whether it's actively managing them or being a financial backup. is it a hobby you love or do you look at it as a money maker. >> i look at both. what could change the quality of people's lives. stem cells. and meteors, we can get them
like the old west for the mineral rights. i do thing that can change lives as well as a great profit in business. maria: you said somebody said pay yourself first. tony: i took five stroke off his golf game and he thought i was god. so he took two months and called me back and said i figured out how to pay you back. he said the best financial advice came when a wealthy man told me, you are about to write the one-minute manager book. a business will eat the money you are making. put it in an investment account and don't touch it and let it grow. when the business has trouble, have cash. and i did the same thing with my first books. now i give away my books.
in my infomercials when i was on tv24 hours a day. it made me wealthier than i worked all my life. maria: depending on how you get paid. maybe one week it will be $50, another time it might be $100. waste is start that nest egg. tony: $40 a week. for someone who has no money. over a 30-year span, it's half a million dollars with 8% average return. >> announcer: america has a retirement crisis. but tony robbins book
maria: our special guest this week is tony robbins whose new book, "unshakeable" is a must-read for a nation facing a dire retirement crisis. we know social security is running out of money. people are not going to have that safety net when they retire. how do you figure that out when you don't actually have that kind of knowledge. tony: most people aren't going to. the average american has $1,000. my mission is to change that. i interviewed 50 of the smartest
people in the financial world. the mark buffets and the carl icahns. they give me their best strategies. i put that in these books. this is 200 pages. you can right in four hours. so many people have been waiting for 8 years saying the market is overvalued. you have to get in the game. the crash that comes -- they come every five years. it is a leveler. it gives a chance to leap frog from where you are to where you want to be. what people have to remember, every bear market in history, every crash has been followed by a bull that was explosive. 2008 we lost 50%.
but what happened in 2009 that stayed on? 69 upside. if you didn't sell, you were up 70%. maria: some of the people don't equate warren buffet with fear. do they have fear when they are putting tens of millions into this market? tony: i wouldn't call it fear. they are cautious. no one knows how long it's going to go. and everybody thinks it's over before it's over. they all go for asymmetrical reward. some are macro traders. carl icahn going and being the advocate. they look at how do i make sure i don't lose money by having enough asset valuation.
your risk-reward ratio goes up five times. if you twerlsify you are protected. how do i get the biggest reward with the least amount of risk. bar require's a hedging strategy. >> they don't have fear, they just have respect for the market and they are focusing on tax efficiencies. maria: you have got 31 companies in all different industries. so let me ask you have this. when they are putting money to work, how important is the overall backdrop for these folks. are they look at this company's backdrops will be good for the economy and a lot of the boats will be lifted. tony: the macro guys are look at the backdrop. the individuals guys look at an
individual company go for it. you have got to get in the index. the fees are what kill most people. the people who do get in the market. they don't understand the difference between 1% or 2% or 3 per there are fees makes the difference between financial abundance. they are all cutting their fees because they judge performed the last -- they underperformed the last years. you never know what the timing is. research done by jpmorgan, a 20-year study found if you are out of the market for 10 tradey days in 20 years, instead of s & p's doubling every nine years. if you lose just one day a year,
you drop to 2%. 1.5 days out of 20 years you make nothing. maria: if the market is up since election day, don't be afraid of it. tony: you will probably see a correction, but it won't hurt you if you don't sell. there is $100 billion. he was going to take a billion dollars a week for 16 straight weeks. he said these valuations are the greatest thing in the world. but the whole purpose of this book is i'll show you not by enthusiasm or positive thinking. but by knowing the actual facts. leaders anticipate, losers react. you can anticipate what's going to happen because there are two centuries of history. you are not going to do it day
to day. as long as you stay in there. warren buffet said, tony, i got to tell you, the stock market is a device that transfers money from the impatient to the patient. if you stay patient. get in the market. stay there and do nothing. and it's an unbelievable formula. maria: i like what you said, leaders anticipate, leaders react. tone report average investor is trying to make money. how do i -- take $3 some million to make $30 billion. but he never exposed more than 6
cents to make a dollar. maria: thanks for joining us. that will do it for us on "wall street week." dear predictable, there's no other way to say this. it's over. i've found a permanent escape from monotony. together, we are perfectly balanced. our senses awake. our hearts racing as one. i know this is sudden, but they say...if you love something set it free. see you around, giulia hey ron! they're finally taking down that schwab billboard. oh, not so fast, carl. ♪ oh no. schwab, again? index investing for that low? that's three times less than fidelity... ...and four times less than vanguard. what's next, no minimums? ...no minimums.
the deep state gets wrong." >> announcer: the new "wall street week." maria: welcome to "wall street week," the show that analyzes the week that was and position you for the week ahead. i'm maria bartiromo. tony robbins will join us in just a bit. but first it was a busy week from main street to k street to wall street. the big event was the jobs number friday. the u.s. economy added 235,000 new jobs in the month of february. the unemployment rate kicked down to 4.7%. l