let's get right to fred smith. recent investments from some of the biggest names in hedge funds, just to name a few. good morning, fred. how are you? >> i'm fine. how about you? >> good. you cover the whole spectrum. i mean, george soros, i guess the -- both of you guys can get along although you may never be out to dinner. wow. what was that? you may never actually talk politics together, i would imagine. >> well, he's probably got a little more liberal bent that i do but i enjoyed meeting him. he's obviously a great investor. >> dan loeb normally does things when he's thinking about a ceo change. at this point i don't think he's talking about that and you have stated you're going to stay there for the -- i mean, the near end and maybe even long-term future, right? >> well, obviously the clock particul ticks on. i'm not going anyplace for the foreseeable future because we're so optimistic about our business and would be even more optimistic if we get a little growth going around the global economy. but we enjoyed

. >> yeah, fred smith very well respected ceo, kate. that was interesting in and of itself. herbalife, even comments from dan loeb regarding herbalife and bill ackman a bit. >> we did. he talked in some detail, actually. andrew asked him, was it personal? was he going long herbalife, because he was trying to cause pain to bill ackman, who is reported to be sort of a frenemy, if not an out-right enemy, he said, look, nothing personal. he did some due diligence. he took time from a winter holiday and came from mexico to meet with company management last winter. he is bullish. he doesn't think it's a pyramid scheme. he had a price target of 55 to $70. and he said usually they go out a year, but in this case, the stock made good money, so they got out of it in the february, march area. you reported that at the time. so you remember that. >> i do. >> but he basically said, look, no pump-and-dump here. this was a good, old-fashioned investment idea. >> he addressed comments by george clooney, as well. people are waiting to hear, if anything, he would say about that. remember, it w

>> fred smith being the ceo of fedex. you obviously get a better dividend but i think fedex is is a better company do i like it here? a lot harder now but i think the stock still works and the story still makes sense. ever since they had that disast rout quarter. >> you're probably okay with using 30 as your stock here. so as a trade it's probably not a bad place to get in here if you can get five on ten points. >> mike, fuel costs letting up. that has been a tail wind for a lot of the airlines. that could be one for fedex. >> bernly i would be a little bit hes tand especially considering on an absolute basis the valuation isn't nuts but it is trading pretty far above. so we might expect it to be about 10, 15 bucks cheaper if it was traitinged a multipbls that it has maintains. we have got a stock that is up a lot on the year. >> and involvement in sony being called a success. >> we remain very bullish on japan. we wouldn't have made the sony investment if we didn't support everything that they are doing both, you know, p

smith. we saw an uptick on that. as well, he's still bullish on japan in general led by the prime minister abe's program and sony in particular a stock he's had trouble with in terms of his activist efforts, but at the same time he the thinks it's a longer game and the company is embracing some of his ideas including a push for greater accountability. >> all right. kate, thank you very much. kate kelly reporting from the deal book conference in new york city. holiday central. walmart turning up the heat on black friday shopping. the biggest retailer joining the growing race to open early on thanksgiving. courtney reagan here with the details a little bit of a change for walmart. >> it is a change, but really hard to be surprised. once one retailer starts they all follow. the christmas creep begins because it works. walmart opening 4700 stores in the u.s. at 6:00 p.m. on thanksgiving. that's two hours earlier than last year, but toys r us opening the earliest at 5:00 p.m., three hours earlier

he also said he had recently gotten together with ceo fred smith. so kind of an interesting surprise disclosure there. but back to ray dalio, some fascinating thoughts from the equities market and the market overall, what the fed is likely to do. he said for the next 10 years or so, he expects equities to have 4% returns. he thinks it will be tough for the fed to raise interest rates in this environment. and he also said, for individual investors in particularly, it will be a rough road. let's take a listen. >> i think that going forward, most investors are not going to be able to produce alpha. alpha's a zero sum. you know, we have 1,500 people who work there with computers, doing all sorts of work. and it's the pros against that. so that alpha is a very difficult game. i would say most investors should create a balanced portfolio against that. but it's a difficult situation. >> balanced portfolio, of course, meaning, you know, the proper mix of bonds, stocks, other assets, how to get that right. dalio, also, is a famous backer of the risk-parity s

we have kimberly clark's tim falk and we'll cap off our ceo summit with fred smith from fedex. the more records from wall street as janet yellen says the central bank's current policies will continue. >> we expect to maintain a highly accommodative monetary policy for some time to come thereafter. and the message that we want to send is

. >> when fred smith sat down with them, he's a reasonable man. he's an economist. >> he does own 20 million shares, too, not to be forgot i don't know -- forgotten. >> he's very good. i think of all the terrible companies out there, all the companies where if we had different management, there could be some greatness. >> where are the agitators? why not look at it and say there's value to be unlocked? >> the agitators i think are taken aback. >> it's not necessarily a turn around. if you're an activist, you may not want to get involved in a turn around that's going to take years, you may change allocation to capital in some way that's going to result in a real positive. that's another side of it. >> true alchemy? >> conceivably. >> last night i put mr. jefferies from abercrombie and finch on my wall of shame. i think if an activist came in and replaced him, he's 69, his contract's not up, i think there's value there. sometimes people overstay. people do overstay their welcome and boards are very forgiving. >> got to go out on top. got to know whe

what's interesting here is even without an activist actually showing up, fred smith seems to be doing the right things. he launched a cost savings plan at the end of last year to save $1.6 billion on a company that does about $3 billion in ebid, very significant cost savings plan and started buying back strock aggressively. he's starting to do the right things. we have an undervalued stock and management doing the same thing. >> still using a le ing ing a ls domestically than ups does. >> there's still a lot to improve. >> ricky sandler, thanks for being here. >> thanks for having me. >> coming up, the tale of two cities. miami has it all, not to mention an s.e.c. investigation. can the city bounce back from here? find out after the break. i have low testosterone. there, i said it. see, i knew testosterone could affect sex drive, but not energy or even my mood. that's when i talked with my doctor. he gave me some blood tests... showed it was low t. that's it. it was a number. [ male announcer ] today, men with low t have androgel 1.62% testosterone gel. the #1 prescribed topical testo

. >> fred smith was here on friday. >> brian, your name is very close to brain. >> a lot of times people misspell it brain. >> but it's not, it's brian. >> it's brian. >> and jumbling your last name, we could make some different words out of nagel, couldn't we, becky? >> i can't think of one. >> brian, see you later. >> thank you. >> andrew, what's coming up? >> coming up, oxford dictionary is unveiling its word of the year. find out if it's in your vocabulary. i bet it is. i'm not going to be surprised. but first, we're going to head to a break and before we do that, we're going to check on the national weather forecast. we have alex wilson this morning. >> hey, guys. cold is the word of the week for parts of the midwest. this morning, not too bad. we have 20s and 30s out there. today's highs, close to average. for chicago, 43 degrees. 40 in green bay and detroit. even tomorrow, not too bad. temperatures in the mid 40s for chicago and detroit, even throw to mid 50s for spots like indianapolis and st. louis. but the cold is coming. we're going to have two fronts move through, one brings

. >>> joining me now, former cia analyst fred weiss. you just heard pat smith. we now know there were pleading calls from the consulate that night, probably from her son. what happened to the no man left behind concept? >> it's really a terrible story, judge, and thank you for having me on. this is not the way the u.s. government is supposed to protect its employees abroad. i feel betrayed. the security threats in libya were well known, but the obama administration had this naive view of the world after 9/11. i mean, after the death of osama bin laden, and this is narrative they continue to push even after it was apparent this was a terrorist attack just so the president wouldn't have problems with his re-election. >> fred, there you two pieces to this. number one, we know it was one of the most dangerous places in the world, and we know that the ambassador had asked for help, and had asked for security previously from its friend hillary, but then the second piece of it, fred is that, when they were calling for help, you know, apparently everyone was told to sta

fred couples coasted it his ninth dar rear win on the -- career win on the champions tour. it's perry going home with the schaub cup. >>> get the ready to stir up the hype machine. stanford and oregon thursday night down on the farm. we will see you tonight on the 6:00 news. >> thank you, dennis. >>> strict play of the day. on the heels of halloween last week mike glennon hands the ball tough to mike james who does a little jump shot right over the middle of tom crabtree for a touchdown. 27-24 your play of the da . >>> coming up, hashtag wall street. twitter gets ready for the ipo this week. why investors are not popping the champagne open just yet. >>> the president hits the road. i am susan mcginnis in washington. coming up the efforts on trying to fix the problem. >> could the giants have to share their ballpark? why the a's have their eye on at&t. ,,,,,,,,,,,, at farmers, we make you smarter about insurance. because what you don't know, can hurt you. what if you didn't know that posting your travel plans online may attract burglars? [woman] off to hawaii! what if you di