Neil Cavuto was joined by Jim Rogers, president of jimrogers.com; Gregg Hymowitz, founder of Entrust Capital; Gerri Willis, Senior Financial Correspondent with Smart Money and Ben Stein, economist and former Nixon speechwriter.
Lott's Loss, Your Gain?
Some say Trent Lott's decision to give up the Senate majority leadership may mean you'll get more for your money?
The worry was that if Lott did not step down, the GOP would have a lot of trouble pushing through President Bush's economic plan.
And we all would have suffered from it.
Neil asks Ben Stein if Republicans and investors are better off with a new majority leader?
Ben says we're worse off because we let the "thought police" over on the left push Mr. Lott out. But Ben says Frist will move tax cuts quickly. Whether or not that will help stocks or not, Ben is not sure. Ben says we still need a bump in corporate profits to have any lasting value.
Gerri thinks we'll see captial loss deductions and a decrease in the dividend. She says these are all great things for small investors who have been suffering for a long time.
Gregg completely disagrees with Ben and says it wasn't the left who kicked Lott out, but the conservative right that didn't stand by him and defend him. They knew that with Lott there, their agenda would've been crippled.
Jim says the economic agenda will not change and it will still go forward. Lott has nothing do with the economy so nothing will change.
Gregg's stock pick that will gain from Lott's loss is Pfizer (PFE). It's 16 times earnings. Gregg says Pfizer will move quickly on medical care expenditures.
Gerri says buy Citigroup (C). Gerri says this will be a stock to watch. Their net income is in the billions.
Ben says buy Nuveen Quality Fund (JTP). This stock pays over 8.5% in dividends and it's a good pick to have.
North Korea Threat?
All eyes and all worries are on iraq, but is the real threat to our safety and your stocks coming from North Korea?
North Korea's military might is more than a million strong, dwarfing Iraq's by more than two to one.
Now the rogue nation says it's putting its nuclear program back in business ... And making public and threatening statements about potential war.
Gregg, you've been saying North Korea is a bigger threat than Iraq, how big of a threat do you think it really is?
Gregg says North Korea is absolutely a bigger threat to the U.S. than Iraq. He thinks it also points out that the axis of evil speech has been a complete failure. Since that speech North Korea has announced they have a nuclear program and they've sold scud missiles to the Yemenese.
Neil asks if there's anything President Bush has done that Gregg does like.