RUSH TRANSCRIPT Did you ░░░░░░░░ a call from legal ░░░░░░░░ something Liz done Closing ░░░░░░░░ four minutes away Okay ░░░░░░░░ the week because it ░░░░░░░░ Friday all three major ░░░░░░░░ are up and the ░░░░░░░░ winner is the NASDAQ ░░░░░░░░ looks like it will ░░░░░░░░ nearly 1 At the ░░░░░░░░ though we re looking ░░░░░░░░ a record for the ░░░░░░░░ Jones industrials at the ░░░░░░░░ All right big blue ░░░░░░░░ for the gold as ░░░░░░░░ hits an all time ░░░░░░░░ as well Our countdown ░░░░░░░░ has the dow component ░░░░░░░░ his medals podium but ░░░░░░░░ has a caveat about ░░░░░░░░ in stocks right now ░░░░░░░░ us with 1 5 ░░░░░░░░ in assets under management ░░░░░░░░ Tim Pagliara Tim we ░░░░░░░░ get to ibm in ░░░░░░░░ second but I m ░░░░░░░░ to know what you ░░░░░░░░ concerned about when it ░░░░░░░░ to equities overall at ░░░░░░░░ moment Well thanks Liz ░░░░░░░░ ve gone from 250 ░░░░░░░░ in interest expense in ░░░░░░░░ to 1 2 trillion ░░░░░░░░ re spending money as ░░░░░░░░ it has no you ░░░░░░░░ consequence and at a ░░░░░░░░ point in time we ░░░░░░░░ to address that That ░░░░░░░░ impact the valuation of ░░░░░░░░ market and inflation is ░░░░░░░░ to follow Liz it ░░░░░░░░ not a warning people ░░░░░░░░ dismiss If for no ░░░░░░░░ reason the incredible run ░░░░░░░░ that the stock market ░░░░░░░░ had although people a ░░░░░░░░ and a half ago ░░░░░░░░ saying be careful be ░░░░░░░░ in fact as we ░░░░░░░░ know Morgan Stanley s ░░░░░░░░ Wilson had well if ░░░░░░░░ listen to him you ░░░░░░░░ have lost money because ░░░░░░░░ stock market has gone ░░░░░░░░ and up and up ░░░░░░░░ let s get to ░░░░░░░░ blue because that stock ░░░░░░░░ well has really surprise ░░░░░░░░ the upside over the ░░░░░░░░ couple years Talk about ░░░░░░░░ and why you still ░░░░░░░░ it Well they just ░░░░░░░░ everything going for them ░░░░░░░░ this point and there ░░░░░░░░ one thing that they ░░░░░░░░ that people really haven ░░░░░░░░ focused too much on ░░░░░░░░ are one of the ░░░░░░░░ in quantum computing and ░░░░░░░░ s the next gen ░░░░░░░░ next gen innovation so ░░░░░░░░ ve got a very ░░░░░░░░ exciting future and it ░░░░░░░░ a value stock that ░░░░░░░░ now moved towards being ░░░░░░░░ of a growth stock ░░░░░░░░ dividend It was a ░░░░░░░░ play in the tech ░░░░░░░░ but has a tendency ░░░░░░░░ be a little too ░░░░░░░░ at times Liz okay ░░░░░░░░ s fair You re ░░░░░░░░ this message to investors ░░░░░░░░ be sure to have ░░░░░░░░ cash and liquidity ready ░░░░░░░░ the sell off does ░░░░░░░░ what is the first ░░░░░░░░ you re going to ░░░░░░░░ Tim It be hard ░░░░░░░░ say at this point ░░░░░░░░ just depends on you ░░░░░░░░ where the market takes ░░░░░░░░ but I still like ░░░░░░░░ I infrastructure plays I ░░░░░░░░ there s some neglected ░░░░░░░░ there that are still ░░░░░░░░ value so I have ░░░░░░░░ tendency to stay as ░░░░░░░░ 100 invested except during ░░░░░░░░ like this where we ░░░░░░░░ a high component of ░░░░░░░░ and we re also ░░░░░░░░ at other asset classes ░░░░░░░░ well.