peter tchir and margie patel as well. this is bloomberg "real yield." ♪ tom: we welcome all of you worldwide. i am tom keene in for jonathan ferro. not final thoughts but because of the extraordinary nature of the week, kathy jones gonna margie patel, peter tchir with us. we are diving into the ramifications of this for the little guy. i don't know whether the little guy is $2000 or $100,000 or even a million dollars. what does the little guy do, pushed around by these institutional realities? at the end of the day, it has not changed much, being diversified, understanding your time horizon, and making sure you have some safe assets. we have been emphasizing more on the safe assets lately because we are getting more defensive in equities and fixed income. but nothing has changed, you still need that diversification. tom: this is important, i'm going into the real yield here. stays within two years but i'm going off of the actuarial assumption. margie, you shocked me with the idea of percent or lower. how do we get there

peter tchir with us. kathy jones with us and margie patel with us. we are thrilled they could be with us today. i am even more thrilled jonathan ferro is not here. how about high-yield? we will talk to ms. patel about high-yield. arch dissension here. kathy jones saying maybe not, margaret patel saying load the boat. i have no idea what peter tchir is saying about high-yield. stay with us. this is "bloomberg real yield." ? tom: from our world headquarters in new york, i'm tom keene, in for jonathan ferro. people asking where jonathan is, he is on sabbatical. that is all there is to it. "bloomberg real yield" after this historic week. peter tchir is with us, kathy jones, and margie patel as we move through the weekend and drive the conversation into a tumultuous august end. we have to go to margie patel on the yield hog demand for credit. right now we are reaching for yield, we have to get there. the big issue -- goldman sachs had a note on this a couple hours ago -- on energy high-yield. is that another problem for high-yield, or was that market clea

peter share -- peter tchir. peter: i have not followed that credit in particular. i think on all of these, you have to do your due diligence, understand what you are getting. some of these companies that have been more in the tech space, some of their bonds have not done as well. because they may have a phenomenal equity story, which can rely on the prospects of growth, sometimes that does not necessarily translate into a great story on the other hand -- into a great debt story on the other hand. tom: kathy jones saying, don't ask me about the weed company. my compliance is watching. kathy: it is an interesting story. tom: i like that, very safe. but kathy, what is so important here is the tumult we are in, whether it is uber, lyft, the weed company. it has never been like this. so what does the retail investor to do, looking for nominal coupon that just possibly would be a positive real yield? it is not there, is it? kathy: no, and one of the things i have not been doing enough is taking duration risk. i think if we get a bounce in yield -- tom: can we translate t

nejra: peter tchir stays with us. turning to hong kong, we started the show with the update on the turmoil. authorities canceling flights after protesters swarmed the terminal building for the biggest disruption yet to the city's economy since demonstrations began in early june. joining us from the hong kong airport is bloomberg's yvonne man. great to have you with us. just give us an update of the latest because this is been an incredibly fast moving story, even today. vyvonne: we just heard that yvonne: we just heard that they will try to resume these flights tomorrow morning. that screen you are seeing here with bright red, most if not all of the flights this evening have been canceled, so the earlier flights were able to fly out. in terms of incoming flights, we are still hearing that some flags are landing here in hong --g come but things c signs have calmed down here. a much different scene from the violence we saw over the weekend. david: it seems to be regular now, every weekend there will have been demonstrat