 Hi, good morning, everyone. It's Wednesday. We are on the floor of the New York Stock Exchange with Jim Cranber, the stock market, a little bit lower this morning. Jim, people are worried about the rise in bond yields. What do you think? Look, obviously, anything that says things are getting inflationary and yields are going higher is something you want to scrutinize. I guess because I'm older, I remember when bond yields were 14%. When they went to 11%, we thought that they were finally inflation was whipped. And so I want to be relative about that. Also, the German Bund, which is finally going up in interest rate, was a silly piece of paper because of the way that the central banks have worked there because you were losing money the moment you bought it. So that wasn't sustainable. So we also just a few months ago were saying if there was only a little inflation in the system, we could then be sure we wouldn't get a flat yield curve, maybe get a little inflection. I've been calling, thank you, Matt Horween, for putting this idea in my head. I've been calling for the Treasury, for the Federal Reserve, to override what the Treasury I know wants and dump their bonds, just dump their bonds. I've also wanted the Treasury to issue long-term bonds, the 50 year where you get, say, the 50 year for 4%, you make America great infrastructure bonds. So I'm not as troubled, but I will say this, the market's been up in a straight line. It was almost like looking for an excuse to sell off and it's got a good one. Well, Warren Buffett on CNBC this morning saying the markets aren't that richly valued given where interest rates are. Well, let me know. He was saying in a way that was, I don't want to be too clipped about it, but only game in town is the way he's saying that it's really kind of, if rates were up much more, the story would be different. This is one of the things that I've been saying and I've been urging people, look at these rates, continue to contribute to your index funds. If you have IRA, you can do individual stocks, but 401K is the way to do it. Try to get in some index funds. Any day we're down like this would be good days to commit. Why? Because what Warren Buffett said, or what the great Peter Lynch said. I happened to bump into someone at this conference, which was fantastic, the consumer conference in Florida who works with the great Peter Lynch, one up on Wall Street being the best investment book ever written. Still, talking about how you got to be in for the long, you can't trade. You might miss the two or three days where the market really goes up. But when you have a day that goes down on this kind of news, start buying. It doesn't mean that tomorrow's not gonna be down too, but it's an opportunity is what I'm saying. It's not something to panic on. And what was your reaction to the sort of pseudo succession plan at Berkshire Hathaway with Warren Buffett? Look, I'm not as focused on the succession as much as I am about the greatness of Buffett and Charlie and Munger. These are people who have confidence. Like Dave Tepper has confidence too. He made a list of the markets, okay. But Warren Buffett is the best investor of our time. And how he said, listen, I'm really concerned. Rates seem to be about to charge higher. Kind of like what Gunlock's been saying, he's a much younger person than I would be concerned. I wanna say I take solace because the one thing that Buffett would never say is, listen, I want you to get confident. I want you to be complacent. What he's saying is, not yet, there's value. And I like that. Although he does have a huge amount of cash on the sidelines. So to some degree, I wish you were buying some things here. I posed a question to Becky about whether General Electric is right to buy. I've gotten a conference call today at 11.30 and we are saddled with GE. He didn't say that the company's falling apart, which was good. He did say there's a price to buy it, but he would not reveal what price that is. You know, when we talk about succession plans, Domino CEO Patrick Drell stepping down. You have a great article in Real Money about a breakfast you had with him a while back. Yeah, Patty, I met him. I met him the day he started basically. And he came, it was at the Ritz Carlton downtown he's a nice enough fellow. And I was just really trying to get through the breakfast because I had a lot of stuff on my mind. And I said, what's your plan? And you should read the piece in Real Money. He said, well, I'm going to reveal that the pizza, it doesn't taste as good as the cardboard box. And I thought that he was being facetious, but think about the evolution he had. He fixed the taste and then he fixed the delivery system. Then he made the delivery system really good for the millennials. Then he made it so that the pizzas are, you can't mistake the pizza that has sent a big problem with a lot of deliveries. Because it's on you. And then he figured out how the millennials don't even like cash. So he fixed that. And so at the age of 54, he can move on. When I spoke to him last time, I was very disheartened. Why? Because I'm 62 and I don't want to move on. But one of the great executives, stock was at 10, went to 200, gave you some special dividends, was never cocky, never overconfident. Always, always was, let's just say, he always was one step ahead of the other guy. He never came on mad money. He's been on probably more than any other guest and said, we're crushing it. It was always a level of insecurity that he played with. He will be very missed come July. I said, you'll be very missed now. And he corrected me immediately. He's not sure what he wants to do. He said he and his wife will sit down basically in July. And I said, geez, you must have some plan to do something. And he said, absolutely not. It was just time to give someone else the reins. And he had felt he had kind of mission accomplished. It's hard to imagine anyone not saying he was mission accomplished. Well said. And he'll be on mad money tonight. So we look forward. Yeah, we just kind of want to talk. I mean, I reminisce about him because sometimes now I'm seeing life cycle of CEOs who came in and now retire. And these were people who I felt were young. And of course calls into question, just like when your kids grew up. What are you really saying to yourself? It's that you got old, not that they got old. All right, tonight, 6 p.m. Eastern on CNBC. Meanwhile, Jim Piper-Jaffrey with an overrate rating of Cisco with this transition to software. Well, I think, you know, Chuck Robbins who, of course, is an avowed Falcon fan. It's interesting. I don't know if he's going to watch the game this weekend. Maybe he should. Of course, with B Eagles playing at M435. You know, David Faber was giving me pushback on this. And he should have, which is to say that they can repatriate a lot of money. David would say, listen, they have the ability to have a lot of money anyway. But Chuck has always been committed to the shareholder. Look at the stock. I mean, it's moved up really well under him. He can make more acquisitions to make it more, you know, let's say asset-like. He can boost the dividend. He was famously boosting the dividend when the stock was in the 20s. He boosted it to give it a yield of 4%. All I know is that Chuck is a fabulous steward of capital as well as being a fabulous guy. He'll do a good job. And I always go back to your interview with him in November where he also said he would invest that tax reform money into the company. Oh yeah, I mean, he's got a lot of different projects that he wants to do. Chuck's part of what I regard as the new executive. He comes in, he understands sales, he understands technology, he understands engineering, he understands shareholders, he understands workers. And by the way, you know, just, you know, you hear a lot about these companies where women don't make as much money as men and there's inequality. Most of the people who report to him are women and that's something new. It was by happenstance. He picked the best, but he's quite a guy and, you know, he won't sing his praises so I do it. Again, though, a Falcon fan, which I find curious, but maybe that's because that's where he's from. Okay, Saturday will be a big day. All right, Jim, you have your Action Alerts Plus call today at 11.30, everyone should tune in. Well, we're gonna flesh out the new names, which are a lot of in sync with what we do on man money, but a much more better drill down. Talking about the value of the club, obviously doing the Q and A, it's going to be a lengthy session, but I'll try to make it as enjoyable as possible. All right, and Jim and I are gonna continue the conversation right now on ActionAlertsPlus.com. But you have to be a member in order to listen. Join the club.