 Earning season is almost over and the results have been on fire Alex Kenjeev president of Oli Reventures. We have 85 percent of companies in the S&P 500 reporting earnings so far. 72 percent of them beat estimates. What does that tell you? It's been a great season I think it's gonna get even better. GDP came in a little light but I think that is gonna be the next indicator to come roaring back. And the other big statistic here is according to facts that earnings for this current reporting season rose 10 percent year over year another double-digit percentage gain. Does this warrant higher stock prices because we're already at record highs? I think it does actually I mean you do have a lot more cash in the economy because of the six years of quantitative easing that happened that's a factor earnings really really strong and now we're also seeing job growth and even wage growth finally as the first indications of that. But we know that August is a pretty tricky month for the markets back in 2011 of course we had the credit rating downgrade in 2013 stocks rose throughout the year but in August they were down about three or three to four percent. 2015 of course we had the flash crash so is there a tail risk coming in August and and I guess how should you hedge your portfolio for that? I think there's always tail risk there's always the kind of August randomness that can happen typically people take a little break in the summer and then come back in the fall but at the end of the day you want a long-term horizon and you want to step back and think about fundamentals right so I wouldn't make any sudden moves just because of which calendar month it is. That being said you do want to move your portfolio around slightly whenever there are big changes and the big one we're seeing now is the lowering of the U.S. dollar relative to where it was a little while ago so I think that's an interesting play. What implications does that have I mean certainly if we see a comeback in the dollar could that threaten stock prices at these current levels because we saw the dollar surge on Friday's jobs report. Well I think that the movement in the dollar can be good or bad for different there are winners and losers right so as an investor you want to think about are my assets priced in holding stocks that are going to benefit from relative changes in that dollar so stronger dollar you want to be more in smaller cap stocks for most of their sales our state side weaker dollar you're going to do better on large caps companies that have lots of sales overseas where when you translate that back into local currency you're actually getting a lift. And the weak dollar is one reason why the S&P 500 has outperformed the Russell 2000 so far this year by a pretty big percentage. All right Alex Kenji we'll leave it there thanks so much for joining us. Thank you Scott.