david: the stock is up 200%. jean-paul: more. [laughter] david: ok. jean-paul: 400%. david: 400%. while. -- wow. that is pretty good. jean-paul: it is not finished. [laughter] david: the market cap is $140 billion. what was it before this? jean-paul: four times. david: people are happy when the usual products? jean-paul: it is important because we are convinced at l'orÉal that it is a great industry. it is a great job. you make by creating beauty products, make people more happy, better self-confidence, self-esteem. it is a very positive thing. ♪ ♪ david: let's talk about some of the things you'd did. one thing you have been focused on is gender equality. jean-paul: two thirds of the employees at l'orÉal are women. , 50% of% of the board all management. so we are doing everything. david: some of your major competitors, very good companies like estee lauder. jean-paul: i heard about them. [laughter] david: the ceos are often men. the people in charge of duty products are men. does that strike you as unusual? jean-paul: it will change. it was in the beginning more men. yearste

david for hours. it wasn't a problem for judy, she loves talking about her boy, even now, to us. >> david was my first child. he was just -- loved everything and everyone. ♪ happy birthday to you >> david jackson was the eldest of judy's three children. and mark jackson idolized his older brother. >> he looked out for me. he was that way with his friends, with everybody. >> bill brown was one of those friends. in 1982 after high school, brown and david jackson worked together at a burger king, where david became a manager. brown also had a front row seat to the budding romance between jackson and a pretty 16-year-old coworker named barbara britton. >> they were together, and that's awesome. i mean, if you can find love, that's what we all want. >> and so all of these years later, detective velasquez paid a visit to the woman who had been the girl that had fallen in love with david jackson. happy to help, she told the detective. same thing when we called on her to talk about the david she knew. >> he

anyway, david, here we go. david: all right, very impressive. robert: what we have here, this center is designed to really capture all of the records of the african-american experience. and there are the records that were institutional. if you think about the freedmen's bureau and other places, we can capture those and digitize them and we can have access to them. this is the best of the institutional records. but the real beauty here is how do you go and give everybody a chance to put their family's history and their narrative as part of the u.s. environment, or part of the u.s., here in a place where generation upon generation can now find who they were, how they contributed, and not just the 500 people that we see represented that everybody knows, but the millions of people? david: what about your family? robert: i hope they are here. but i'm excited. we should probably take a look to see if any of that is accessible at this point. ♪ ♪ >> in ancestry, in a family search, you can search for individual people. the first hit we get is in wor

david: you got into harvard. when you got into harvard, did you decide to go right away or did you see if other schools would accept you? ken: that was a complicated story. ken: my father's business partner was a princeton graduate. princeton was my first choice. my father had a falling out with his business partner. that was just before the time i was picking where to go to college. my dad said it would break his heart if i went to princeton. and, i went to harvard. [laughter] david: well, that has broken the heart of the princeton development people. [laughter] ken: one of my partners at citadel, who i have had the pleasure of working with for two decades, served on princeton's investment committee oversight and has done wonders to help princeton feel better. [laughter] david: the legend is you began trading convertible bonds out of your dorm room. ken: that is true. my freshman year, and i am at bloomberg, so i have to say my gratitude for the press, i read this article saying the home shopping network was ove

david shannon, just 40, was dead. all it took was a look, in fact, for lead detective mike murphy to see what happened in david's bedroom was highly intentional. >> it was an execution. the intruder came in while he was sleeping, placed a gun to his head, and shot him in the chest. >> and joan? the shock of it didn't help, of course, nor the fact that she was sound asleep when it happened. by the time she calmed down enough to talk to police, she wasn't very helpful. >> i did not clearly see the person who shot david. i'm not sure if i saw or just had a feeling of somebody just leaving the room. but -- i thought it was a shadow. >> did you actually see a shadow or did you tell the police you thought it was a shadow? >> it was a movement, like a shadow that left. >> she tried to follow the intruder down the hallway. she was worried about the safety of the children. she returned back to her bedroom. that's where she made the 911 call. >> the children. joan and david's eldest daughter daisy was out of town. but their two

david: greg, great to see you. appreciate it. >> thanks, david. david: despite a year of tariffs, trade deficits keep growing. we have american enterprise institute paul wolfowitz whether world trade is more important than trade deficits. what do you think, paul? >> i think world trade is important but as long as we're a borrowing country and don't save enough to cover our demand here and our investment demand we'll have a global trade deficit. the bilateral deficits are a question of which balances, which relationship is more in balance and obviously the one with china has been out of balance for a long time. but i think as your previous interview said, what's much more important with china actually the way they have been stealing our technology and and gaining a jump on us for technologies that are critical to our national security. david: there are members of the administration i believe are more free traders than fair traders. i believe there are some more free traders than fair traders. the point is not everybody in the administration agree t

david? david: in the meantime, steven mnuchin is testifying before the house ways and means committee saying he will follow the law when it comes to disclosing the president stack record. he declined to comment on specific that actions. you can watch it for yourself on bloomberg live go. live from new york, this is bloomberg. ♪ >> this is balance of power on bloomberg television. a former texas congressman who gave ted cruz for his run -- a run for his money is raising his sites. better or or can announced he is running for president and did so in an unconventional style -- betoit will o'rourke -- announced he is running for president and did so in an unconventional style. >> this is the presidential campaign that seeks to bring out the best from everyone of us, that seeks to tonight -- unite a very divided country. we saw the power of this in texas. david: for more on the 2020, let's bring in joel benenson. and alex, who served as communication director during a presidential campaign. joe

david: breaking tonight. robert mueller's russia report is in the hand of attorney general william barr. a senior justice official is telling us mueller is not recommending any further indictments. now the question, will democrats accept the findings if nothing directly implicates president trump. joining me trump's former campaign advisor and hillary clinton's campaign advisor. if there is no indictment for collusion between the trump campaign and russia that was the basis of democrats pursuing this investigation getting behind it 100%. it's one of the reasons most of americans would get tired of it. where do republicans go now? i'm going to ask antjuan where democrats go. will they use this in the campaign of 2020? >> this is the time republicans step up and say i told you so. the house investigations turned up nothing and the mueller report turned up nothing. cnn and liberal commentators badgered us saying there is clear evidence the trump campaign excluded with russia. president trump may be an agent of r

david? david: thank you. coming up, tech firms are back in the news today, raising new questions about whether and how they should be regulated in the wake of facebook's streaming live massacre overnight in two mosques in new zealand. we speak with tom wheeler about it next. this is bloomberg. ♪ david: this is "balance of power" on bloomberg television. i'm david westin. judging struck christchurch overnight when terrorists attacked two mosques, killing 49. and those responsible posted a live stream of the attack from their viewpoint on facebook, until it was taken down, raising once again whether they can be some form of -- there can be so form of regulation on technology into social media. we welcome now tom wheeler, , former fcc chairman. he is a senior research fellow now at harvard and the author of a forthcoming book on the history of our future. he comes to us from washington and is our conversation in chief today. thank you for being with us. sadly, it could not be more timely. your book is going to

david: you own maybelline? jean-paul: yes. david: where is that sold? is that sold in department stores? jean-paul: no, it is sold in drugstores, mass stores, walmart, target. david: so if a woman is in front of you and wearing maybelline lipstick, could you tell it is not l'oreal lipstick? in other words, can you tell the difference in the brands? jean-paul: not from far away. but -- [laughter] david: ok, i guess that is the point though. ok. jean-paul: i cannot access to the bag. david: you have all these products, and you are a man and you don't use these products. presumably your wife uses these. jean-paul: of course. david: but you don't use these products. how do you make a judgment about whether it is a good product or not? who makes the judgments for you? jean-paul: the president of the brands. we are pretty decentralized. we have an organization at l'oreal where we are strategically concentrated, but operationally very decentralized. there is for each brand a team, what we call an international marketing team. there is a president for each bran

david: no, it is for you. [laughter] david: you have now been the ceo of apple since about july 2011. the earnings are up about 80%. so have you ever thought you can't do better than this and maybe you should just say, well, i have done a great job, and now i am going to do something else with my life? tim: we view the stock price, revenues and profits as a result of doing things right on the innovation side, on the creativity side, focusing on the right products, treating customers like they're jewels, and focusing on the user experience. i didn't even know the numbers that you just quoted. this is not something that is even in my orbit, to be honest with you. david: well, so when you announce your quarterly earnings, analysts always say, well, they didn't sell as much of this product as we thought they would. so does that bother you? tim: it did at one time. it doesn't anymore. the -- we run apple for the long term. and, and so, it's always struck me as bizarre that there's a fixation on how many units are s

, i am david asman. on panel moran or teg as, adam and gary b . the dow closed down more than 460, this is the worst day since january 3 after a slew of weak economic reports here and overseas. are we seeing the gip of beginnf something concerning what do you think? >> i think we're on the edge of something concerning. this rebound that happened since december went too far, i think that market got too hot. it is good federal reserve realized they were slowing the economy, they did not need to raise rate, perhaps too late. it was not a reasons to have all new highs in market. reason that federal reserve is being more dovish, is because the global economy is weak, that not driving global earnings to the s&p companies they have earnings all over the world, they will not be high right now, you will not go to all new highs because there is an accommodative fed. federal reserve engineered this inverted year curve it is scarey to invest -- inverted yield church icurve it is scarey to is right now. the whole thi

david: what does it do for you? jean-paul: sorry? david: what does it do? jean-paul: for me personally? look. everything. [laughter] david: what is the best way to get a job with l'oreal? jean-paul: call me. [laughter] david: really? great. it might be tough to get a hold of you. jean-paul: no, no, very easy. you can email me. i look at my email every day and i answer them every day directly. ♪ david: let's talk about france. because americans are always interested in france. we talked earlier, and like all french people, you take four-week vacation. is that a requirement to be french, to take four weeks? when you want to have somebody in the office in august in paris, you can never get them in the office. how is that? is that a custom or something? jean-paul: it is mandatory. david: it is mandatory to take four weeks off? jean-paul: no, but is a habit. you know, when i was here i used to take two weeks vacation. and when i was in asia, i think i did not take any vacation. and when i came back to france, i thought the french were crazy to take four weeks

david: we got china numbers out. the pmi numbers went the opposite direction from the official data we got on thursday. which is it? mark: things will remain under pressure. if you think about how the chinese pboc has tried to focus on maintaining a certain amount upwardsh, they bought of 5% of gdp in january. at the same time, you had the lunar new year coming earlier. that throws things up a significant amount when you think about the timing. when you think about british exit, people are stockpiling completed goods. what will this look like? we saw that started in q3 of 2018. you've seen that in terms of flows globally as people get very concerned about where the world can head and exports remain under pressure. alix: don't they focus on small and medium firms? and are targeting small medium versus the largess always oe's.rge s the market looking for any kind of catalyst here. this chart shows the lack of move, the 10 year treasury range the smallest since 1979. euro-dollar also trading in a tight range, the s&p bu

[laughter] [applause] david: well, ok, i -- [applause] david: i have one here. i have my iphone here actually. and i do use it and love it. and one time, you and i were in china, and i could not work something and i asked you to help me, and you said, look, i don't normally do tech support. [laughter] david: but you were nice, and it did work. you came out with the apple watch not too long ago. why was it called the apple watch and not the iwatch? because you have iphone, ipod, ipad, why not iwatch? did you ever think of that? or? [laughter] [applause] tim: well -- david: i'm sure you must've thought of it. i'm sure it's not a novel idea. but i'm just curious. tim: it was something that we thought of at the time. david: so it was not a crazy question. tim: no, it wasn't a crazy question at all. david: how come apple watch won out? tim: well, i kind of like apple watch, what you think? david: well, you are the ceo. [laughter] david: the ceo says something. so how are they doing? tim: they're doing fantastic. cellular is now on the watch. you don't have to travel

david: this is "balance of power." i'm david westin. we are back with george mitchell, the architect of the agreement serving as majority leader. coming to us from miami. senator, let's talk about your role of special envoy. not just northern ireland, but also the middle east for the president of the united states. bothwas a noble role under democratic and republican administrations. does it exist today? is there a need for it? >> i think it should not be subject to any general rule. you can't say you want to have a lot of special envoys as a matter of course. you can't say you should never have them. it is very fact-specific, very conflict and circumstance-specific that it may in some cases be useful and others not. we have people serving in similar functions who aren't call that. for example, president trump has what amounts to a special envoy with respect to north korea. as distinct diplomat with a long -- distinguish diplomat with a long history. presidents have used special individuals without calling them special envoys. i don't t

back to you, david. david: 198, that's a huge draw. 192. david: thank you very much. tax in all stock trades, democrats trading ideas on just how to do that. deirdre bolton joins us with more. reporter: that is right. today is that a democratic congressman from oregon leading the charge against wall street. he's good to introduce legislation today on stocks, bonds or derivatives. this is not the first time is targeted wall street. he introduced a similar bill that there was more pickup at the time. congresswoman alexandria ocasio-cortez a lead cosponsor of the bill along with a dozen others. he wants to discourage high-frequency trade to avoid another flash crash. he also said the money from the tax could go to more worthy causes. for causes. for example the joint committee on taxation estimates of financial transaction tax could help reduce the budget by adding revenues of $777 billion during 10 years. if the exact form in here is what it means for you. individual investors would pay .01% per transaction and the online account. ameritrade, schwab, whatever you have.

then david. but it was becky's relationship to her other son chris that would prove to be the most intriguing. >> it was a real, real strange mother/son relationship. when his mother called, he would drop everything and go to mom. whatever she wanted, he was there. >> reporter: becky, investigators discovered, doted on chris and showered him with extravagant gifts -- money, a motorcycle, a car. nothing was too expensive for chris. not even the house he lived in. >> it was a house purchased by his mother. >> eighteen year old kid with his own house? >> correct. that's kinda strange, you know. >> was he a mama's boy? >> well, i mean, i guess he was a mama's boy, you know. anything he needed, he got. >> reporter: but according to michael, becky's over-the-top generosity always seemed to come with strings attached. >> it was that, "hey, i'm gonna need something from you. here's the keys to your new car." "hey, i'm gonna need something from you. here's your house." "hey, i'm gonna need something from

david? david: thank you so much. union,g of the european coming up this afternoon the eu trade commissioner will you join bloomberg television after she meets with u.s. trade representative robert lighthizer. that will be at 3:30 p.m. eastern time. this is bloomberg. ♪ you are watching "balance of power." i'm david westin. tesla shares rising 2%. it is our stock of the hour. it plans to have charging times at 15 minutes for the model 3. emma has more. emma: they are updating their network to cut the wait times to 15 minutes. c as they areodel rolling out this market this year, allowing about twice as many cars to charge each day. the first one, the first one of these is super will roll out in europe and asia into the fourth quarter of this year. it is really them trying to get ahead of rivals, the likes of porsche trying to roll out some superfast chargers. david: they are selling a lot of porsches, who would've thought? so, 15 minutes, that sounds remarkable. it must cost a lot to do that. emma: i think they are s

david? david: thank you so much. president trump has focused on tariffs as a tool of trade policy like no other president in recent history, but in pursuing better terms of trade with china is policies have also heard american businesses -- hurt american businesses. chris coons of delaware and james lankford of oklahoma have proposed legislation that would help with imports. senator, thank you for being with us. sen. lankford: glad to be in the conversation. david: what is it you are proposing? >> the tariffs have been ignored. there has been focus on the 232 tariffs dealing with steel, but other tariffs deal with products coming in. a 10% tariff, the president did threaten to go up from there, but in the first two there were smaller amounts and in exclusion process, the way that companies could say that this is not manufactured anywhere else and it has to be done here. those processes were put into place and they are working through it, but the third-largest tranche of tariffs coming through these 301's, there is no

david: yeah. and there was a time when even democrats, not just border patrol agents like yourself, knew this. let me just play a tape for you of a time when that was true. >> it is wrong and ultimately self-defeating for a nation of immigrants to permit the kind of abuse of our immigration laws we have seen in recent years, and we must do more to stop it. >> we simply cannot allow people to pour into the united states undetected, undocumented, unchecked. >> we do not want to do anything to encourage more illegal immigration into this country. >> the american people are fundamentally pro-legal immigration and anti-illegal immigration. we will only pass comprehensive reform when we recognize this fundamental concept. david: stevie, how frustrating is it for you, a border patrol agent, to see democrats at one point years ago before trump was in power saying walls are a great thing, then after trump comes in power, they say it's impossible, we can't afford it? >> it's unfortunate that their opinions

[applause] >> please join me in welcoming tim and david. david: thank you for coming. thank you for watching us on the livestream. this is a moment where superlatives are appropriate. we have somebody who invented technology that changes our lives every day. i was just doing my own brief research into how tim came to be the inventor of the internet, and the time he spent. 30 years ago next week, he submitted a paper called "information management: a proposal." it sounds very and oculus and modest, that it included the basic framework of the idea that you have a web of information where you would, through links, which he called hypertext links, be able to access all of the information. a quote from the cern website summarizes this basic, brilliant idea in two sentences from tim's writing -- suppose all of the information on computers were linked. suppose i could create a space in which everything could be linked to everything. and that is the world we ended up with. sir tim, i want to welcome you, and maybe begin by telling us what plans you, your former colleagues, you

david? david: thank you. senator richard blumenthal tweeted earlier today, "i remain deeply troubled that regulators responsible for cracking down on infractions seem asleep at the wheel. the doj must investigate the toh's antitrust violations deter more harmful behavior." we welcome our analyst. along with the chief enforcer for the federal trade commission and now a legal partner. this is the debut of our new segment. kevin, i think he is talking about you in your former job, saying the doj should go after these people. now to go after these big technology conglomerates? kevin: these are very large companies. this is a system of free enterprise, you get to be a large size because you charge lower prices or you make a better product, then that is terrific. it would be perverse to have a policy that turns around and penalizes the winner. i think you have to look at these companies separately and there may be a particular issues. but i do not think that -- and there are things like using people's privacy and p

david? >> marci, thank you. >>> we'll turn to the crash of the boeing jet. for the first time news on what the pilot said before the crash. the radio messages indicating the captain was struggling with the plane immediately after takeoff. panic in his voice. abc's david kerley with what we now learned tonight. >> reporter: the ethiopian airlines 737 max 8 that left this crater had trouble at take off, the captain reported. drama that unfolded minutes later with the wild up and down movements of the jet. the "new york times" reporting the captain, in a panicky voice calls out "break, br. request vector for landing." but the jetliner with 157 on board, traveling at 430 miles an hour, crashes three minutes later.ay an aviation source saying it could be monday before anything is made public. on the ground, investigators are interested in the tail section of the jet, the horizontal stabilizer which controls nose up and down movement, specifically the jack screw, which moves that part. a source sa

david: really? jean-paul: yes. it is the truth. david: you are fortunate to sleep that long. i saw the jeff bezos -- david: eight hours is what he needs a night. when he gets in his late 60's, i doubt he will be able to make it through the night but you never know. i want to thank you for giving us an insight to what it is like major beauty products company and thank you for the advice you have given me about things i could do to look better. jean-paul: thank you for having me. it is a great honor. thank you, david. ♪ \ he started an e-commerce company in 1995. today, he is known as the amazon of japan but also works with google and others. though many outside of japan don't know how to pronounce the

david: very intrusive. alix: at least not interrogation in a japanese prison. 19, he wasmber arrested there. it's been quite a saga as he lost his position at nissan and renault. interrogation, often without his lawyers present. a $108 million bail check. a rangearkets, you have bound s&p and a resilient dollar. futures pretty much flat. euro-dollar flat on the day. dollar, puzzling when you have a dovish fed. nowhere,ield goes crude off by .7%, worries about more storage coming online in the u.s. still a bit soggy in the market. we will get adp employment numbers for the week, followed by the u.s. trade balance for december. at 2:00 this afternoon, the federal reserve will release its beige book. cecelia will meet with robert lighthizer. alix: time for the bloomberg first take. oecd you get the downgrading global growth, looking at 2.3%. what does that mean to you? >> absolutely nothing. it's interesting because when the european commission downgraded european growth after the imf had already done so earli

♪ david: he's the son and grandson of rabbis. after thinking about a career as a journalist he ended up at prestigiousw in a law firm. michael chertoff felt the need to serve a larger purpose. he went to become a federal prosecutor, putting mob parses behind bars. -- mob bosses behind bars. his defining moment came on the morning of 9/11, as head of the criminal division at main justice, he rushed to fbi headquarters to handle the crisis with fbi's bob mueller, who reported to him. national security became his calling. he went on to serve as the leader of the newly formed homeland security. he's now back in the private sector after a long career in government, working with major corporations on personal and cybersecurity. but his focus remains where it has been for nearly 20 years, keeping america, its people, and its institutions safe. on today's "big decisions," michael chertoff. welcome to "big decisions." michael: good to be on. david: you have a career in public service and in particular law-enforcement. what brought you to

-- noense, david could offense, david. [laughter] ida: global growth has low -- has grown in the last year. women currently control 40% of global wealth and are expected overontrol 30 trillion more t the next decade. in addition to everything we do, the core for the female clients, asset allocation, we have also noticed that female clients are focused on socially responsible investing. impact investing. making a difference. i had a discussion with one of our female clients earlier this week and she was saying i want to invest in diverse companies. the ability to build a portfolio for her that focuses on that. other conversations where clients are focused on environmentally friendly green investments. this is becoming so much more of a mindset. it is not an asset class, it is a feel-good way to invest. david: how do you balance making money with those other values, that is to say we want to do both at the same time? you have to give up some of the yields in order to have diversity and environmentally responsible companies?

rachel: this is david. david: hi. i'm david. hello. athena: hi, david. lemonis: the goal here was to have athena take rachel through the commercial baking process, for her to see the efficiency and how the cost could be lower. but instead of rachel having an open mind and learning... rachel: i use fresh eggs, so i don't know if you -- athena: eggs come pasteurized in boxes. rachel: oh, oh, no. so, we use the fresh, and we have a machine that cracks them all. lemonis: ...she's arguing about the eggs... rachel: i have tried those eggs, and they don't taste as good. athena: no one will taste the difference. rachel: all right. we'll see. we'll see. lemonis: ...and the butter... rachel: i use salted butter, by the way. athena: you do salted butter? we're gonna get rid of that. rachel: no, it makes it so good, i'm telling you. athena: but you don't want to add that to -- you can control it. rachel: i know! i add it, too. i add salt, too. lemonis: ...which doesn't sound very constructive to me. athena: we're gonna do two versions of this. lemonis: we're gonna d

david: do you speak spanish still? mr. stephenson: [speaking spanish] david: ok. that is more than i speak. [laughter] david: very often in the , business world, somebody buys something, and the dominant partner that buys the other, the non-dominant partner name survives, so sbc buys at&t. if at&t was so good, it would have bought sbc. so why did you not use the sbc name, since you were better and stronger than at&t? mr. stephenson: the first thing i would like to correct is when you use that legos, don't use the name dominant, in this town particular, because we are not dominant, but, look. we were sbc and we were largely originally, five states, literally arkansas, kansas, texas, oklahoma, and missouri. so the opportunity to buy at&t, a brand, and keep in mind, they were in radical decline when we bought them, and there was about a three-minute bait about taking on a global brand that was well-known, and as you said. david: you were starting out at southwestern bell, then sbc, and then you bought at&t. you took their name, at&t. you are a dominant telecommunicat

david: gina and mark. great to see you, thank you. >> thank you. >> coming up next, president trump sees brazil as a top military ally in the western this is your invitation to exhilaration. this is the invitation to lexus sales event. lease the 2019 is 300 for $329 a month for 36 months. now thru march 31st. experience amazing at your lexus dealer. but some give their clients cookie cutter portfolios. fisher investments tailors portfolios to your goals and needs. some only call when they have something to sell. fisher calls regularly so you stay informed. and while some advisors are happy to earn commissions whether you do well or not. fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients come from other money managers. fisher investments. clearly better money management. the big drug companies don't see they see us as profits. we're paying the highest prescription drug prices in the world so they can make billions? americans shouldn't have to choo

david: that's david ingles. alix: joining us in new york, walter todd, and on the phone, george magnus. you studied china for decades. the special-purpose bonds the state can issue, that is separate from the government's balance sheet. is there a concern that china will overheat? think there's a concern about overheating at the moment. the issue really is the slow son is so ubiquitous and deep-seated that what the government is promising to do -- i do think they can stabilize this downturn in time for the 70th anniversary. i don't think it's going to spark an economic revival. no one doubts the chinese government can throw money at the economy in ways a lot of western governments can't. the issue is whether it's going to improve overall economic performance and get the economy growing on a sustainable path. david: one of the questions is how much debt are they taking on. they say they will keep it to 300% of gdp. that doesn't count if these made by localare municipalities for special purposes. george: i don't th

david: you got into harvard. when you got into harvard, did you decide to go right away or did you see if other schools would accept you? ken: that was a complicated story. ken: my father's business partner was a princeton graduate. princeton was my first choice. my father had a falling out with his business partner. that was just before the time i was picking where to go to college. my dad said it would break his heart if i went to princeton. i went to harvard. [laughter] david: well, that has broken the heart of the princeton development people. [laughter] ken: one of my partners at citadel, who i have had the pleasure of working with for two decades, served on princeton 's investment committee oversight and has done wonders to help princeton feel better. david: the legend is you began trading convertible bonds out of your dorm room. ken: that is true. my freshman year, and i am at bloomberg, so i have to say my gratitude for the press, i read this article saying the home shopping network was overpriced. having

david: the stock is up 200%. jean-paul: more. [laughter] david: ok. jean-paul: 400%. david: 400%. wow. that is pretty good. jean-paul: it is not finished. [laughter] david: the market cap is $140 billion. what was it before this? jean-paul: four times. david: people are happy when the usual products? jean-paul: it is important because we are convinced at l'oreal that it is a great industry. it is a great job. you make by creating beauty products, make people more happy, better self-confidence, self-esteem. it is a very positive thing. ♪ ♪ david: let's talk about some of the things you did. one thing you have been focused on is gender equality. jean-paul: two thirds of the employees at l'oreal are women. it is 50% of the board, 50% of all management. so we are doing everything. david: some of your major competitors, very good companies like estee lauder. jean-paul: i heard about them. [laughter] david: the ceos are often men. the people in charge of duty products are men. does that strike you as unusual? jean-paul: it will change. it was in the beginning more men. definitely in

david? david: thank you. president trump is back from his trip to hanoi it has given his first reaction to the testimony of michael cohen. it was sharply critical. according to the president, congress must demand the confiscation of michael cohen's new book. "your heads will spin. says totally discredited," the president of the united states. welcome now a senior consultant with casual strategies coming to us from philadelphia. and we have genies they know -- have joe with us here. a lot of sound and fury from these congressional hearings with michael cohen, people riveted to their tv screen, did it carry any substance? joe: i think from a legal standpoint, clearly the chair of the committee that heard the testimony said that they will call my witnesses. and i think that these will have legal ramifications. politically, i am not sure it moved the dial more than one might imagine. while michael cohen was a credible witness come i think that people who are entrenched supporters of president trump were not moved