Watch the latest video at FoxNews.comThis is a RUSH transcript from "The O'Reilly Factor," February 5, 2014. This copy may not be in its final form and may be updated.
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O'REILLY: Personal story segment tonight. Since the beginning of the year the Dow has dropped 1136 points wiping out 33 percent of all the gains in 2013. It's no question that playing the market is a risky proposition. Here now making her factor debut, Maria Bartiromo, an anchor on the Fox Business Network. All right. I just put 25 percent of my investments in stocks because I don't trust - I think it's a rigged game. I really do.
MARIA BARTIROMO, FOX BUSINESS NETWORK: Really?
O'REILLY: Yeah, I do.
O'REILLY: I think there are people who manipulate the market up and down. Short sellers this, and I don't understand any of it, but when you have a good year like 2013, and then you see it in two weeks, 33 percent of it bye-bye.
O'REILLY: I mean, that's disconcerting.
BARTIROMO: It is. But there are a few headwinds coming at us, the Federal Reserve beginning the tapering, the stimulus, one of the big factors of the market of last year. Probably going away soon. And let's not forget you just mentioned the headline. We were up huge in 2013. Valuations probably got ahead of themselves. So, it's really not surprise just .
O'REILLY: But we should sell then - Everybody should sell all their stocks.
BARTIROMO: I don't think so.
O'REILLY: No? Even with the head winds?
BARTIROMO: Yeah, well, look at the economy right now and at the end of the day you really can't say everything is, you know, a rigged game because at the end of the day you're talking .
O'REILLY: No, just the stock market. Not everything. Not the whole economy.
BARTIROMO: No, no. The stock market is based on corporate earnings.
O'REILLY: Some of it.
BARTIROMO: And corporate earnings are doing very well. The corporate sector right now probably the strongest you have seen in a long time.
O'REILLY: And do you think that's going to continue?
BARTIROMO: Smoking the .
BARTIROMO: the balance sheets.
O'REILLY: Do you think that's going to continue?
BARTIROMO: Well, it is, because they are not really putting the money to work in places that you would like to see like creating jobs. They are buying back stock. Companies are buying back stock. They are paying dividends. So, you are still seeing this very, very strong situation in terms of the balance sheet.
O'REILLY: You, Maria Bartiromo making her "FACTOR" debut this evening, you are continuing to buy stocks.
BARTIROMO: I would say- I'm not a stock picker. However, I would say, if you are a long term investor you have to be in this market.
O'REILLY: But I have been a long term investor.
BARTIROMO: You might see a downdraft before it goes back up. Because I will says this: over the near term you've got some supply coming to the market. A lot of new stocks coming to the market. New supply is probably going to meet little demand. So, we could have another testing of the lows. But at the end of the day, Bill, you are talking five, ten, 15, 20 years you have got to be invested in stocks.
O'REILLY: OK, but I see - I have been invested in stocks for that long a period of time. And I guess I have made a little money, but not a lot of money. I mean, maybe my 401(K) have made some money. But not a .
O'REILLY: Big, you think?
BARTIROMO: I bet you have made a lot of money.
O'REILLY: You think so.
BARTIROMO: You are talking 20 years you have made a lot of money in the stock market.
O'REILLY: I don't know. Maybe I'm just a dun. So I don't pick right.
O'REILLY: But look, it's so shaky. I have most of my money in municipal tax-free bonds. That frustrates the income redistributors.
O'REILLY: because they can't tax me on that money, which I don't believe should be taxed anyway because I already paid money on that.
BARTIROMO: Well, you're right. You're right.
O'REILLY: I already paid!
O'REILLY: You want me - you want to be - but I respect your opinion or I wouldn't have you on here. You say - you are saying to the folks that the stock market is OK. Stay in there. And then if you see a bargain or two, buy it?
BARTIROMO: That's why I love sell-offs because it opens up the opportunity for .
O'REILLY: It's an opportunity.
BARTIROMO: It's opportunity. You see a big sell off. That's when you say OK, has anything fundamentally changed with the U.S. economy? Has anything fundamentally changed with the companies that I want to -- probably not.
O'REILLY: But the economy is crummy. It is .
BARTIROMO: It's OK.
O'REILLY: It's in debt, and I don't expect it to get any better under President Obama. That's not a shot at the president.
BARTIROMO: Great interview.
O'REILLY: Thank you.
BARTIROMO: Fantastic interview.
O'REILLY: I don't see it getting better the next three years, the U.S. economy. We're just going to muddle along because he is not going to help business. He's not going to cut taxes.
BARTIROMO: That's right.
O'REILLY: He's not going to do it.
BARTIROMO: But business has figured out a way around some of the challenges in .
O'REILLY: They are hoarding money.
BARTIROMO: Hoarding money is one of the ways.
O'REILLY: They are hoarding it!
BARTIROMO: . one of the ways.
O'REILLY: That's the way.
BARTIROMO: But if you look at the balance sheet, when you look at the situation of corporate America today, it's very strong. So that's the positive. As far as the economy, I could not agree more.
O'REILLY: All right. So, we .
BARTIROMO: Something along the bottom it's going to be .
O'REILLY: Right. This is going to be slow, and unemployment is going to be bad. It's going to be hard for the people at the bottom to make any money. But thank god we are not Argentina. I don't even want to get into it.
BARTIROMO: But that's such a good point, Bill.
BARTIROMO: Relative to the rest of the world, the U.S.
O'REILLY: We're still strong!
BARTIROMO: The U.S. is the best place in town.
O'REILLY: But could - wouldn't it be amazing if we got a president in there who really wanted to grow the economy by using the private sector and stopped all this social justice stuff?
BARTIROMO: Business can be a big part of the solution, I agree with you. Business should be working better with Washington and creating jobs.
O'REILLY: Well, we are glad you are here at Fox, Maria.
BARTIROMO: Thank you so much.
O'REILLY: And, you know, Maria wasn't spoiled being over at NBC for so long. She is still a very nice woman.
O'REILLY: All right. We will see you soon.
BARTIROMO: Thank you.
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