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tv   Fast Money Halftime Report  CNBC  September 9, 2021 12:00pm-1:00pm EDT

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jassy. this will be his first interview since becoming ceo, so be sure that catch that exclusive right here, tuesday, 11:00 a.m. eastern. carl meantime, we'll get ppi tomorrow and a chance for the street to reflect on the anniversary of 9/11. let's get to the half. carl, thanks so much welcome to "the halftime report." i'm scott wapner coming up, whether the strong year for stocks is enough to overcome a growing list of concerns we'll debate the state of your money with the investment committee. josh brown, jon najarian, nice to see everybody today we begin with a look at stocks, trying to break that three-day losing streak. dow still holding on to a modest gain of about 35 points. s&p a fractional winner.
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russell 2000 hanging on. many are cutting their forecast, united, southwest, american, jetblue, okay, these opening plays are in trouble but you look at the screen now and those stocksare up, nicely so i wonder if that's the biggest tell of the day, what the message of the market is to you as to how to view these stocks okay, so they cut their forecasts, we'll get past delta, maybe that's the worst of it, and now we can buy these stocks. >> yes and no, scott as far as business travelers versus recreational travelers or regular joes and janes, business travelers are the lifeblood of all of those big three airlines and a host of others but a lot of those business travelers have curtailed their travel dramatically. and so as far as the reopening
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plays, scott, if we're talking about things like theme parks, again, recreational travel, or experiential like vegas, all of those things, i'm right with you, those will continue to expand and we'll see not just 35 and 40% gains in those sectors i just talked about but much more as the reopening continues but the business traveler, scott, the folks that are price insensitive, that one sector that i really worry about right now, because i think businesses, we all want to get back out, face-to-face with people but businesses have learned they don't have to spend nearly as aggressively as they used to spend on that business travel. so for that reason, i am a little, you know, uh, i have a lot of trepidation about all of these stocks >> i hear you. >> in the airline space. not those others >> i know you have puts in the jets etf, i get it
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to me, trfrankly, josh, this is not an airline trade story this is a bigger issue about where we are with reopened stocks be. the fact that these things were down they're all up some of the strongest stocks in the markets today are the airlines themselves. and at some point do you get to a point where you say, all right, we get it, we know things have been sluggish over the past few months the jobs report was not good, growth a little less than people expected because of the delta variant. but we're going to get past that the expedias of the world or the casinos or the hotels, we say, okay, maybe there's going to be a turning point soon for these stocks because you've got to buy them at some point >> yeah. scott, i think a lot of what you're saying is right i would just point out, are we saying that people in delta stock right now aren't aware that there was a surge in
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coronavirus cases? like, are we saying that's new information to the market? i'm not in these airline stocks, but i would argue actually the risk/reward here is pretty darn good anyone that's a shareholder in any of the major airlines is well aware that we had a viral surge over the summer and that there was a hit to bookings. nobody's, like, clutching their pearls because all of a sudden some of the leisure travel slowed down. equally, nobody that's in these stocks doesn't understand that it's going to be a long time before business travel comes back i don't think any of that is, like, meaningful on a go-forward basis for these stocks here's what is if we don't have as bad a winter as we had last year, and vaccination rates continue to climb, which they are, and we don't have these shutdowns and all of these things that are in our worst nightmares to see recur, these stocks are going up, not down and if business travel could surprise in any direction, it
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ain't going to be to the downside it can only surprise to the upside nobody is expecting resurgence in business travel, in conferences, in meetings so there's only one direction to be surprised so you look at delta at 41 i'm not saying it looks great technically. >> completely disagree >> you think there's going to be a negative, downside surprise to business travel? who is optimistic about business travel are you? you are? >> well, josh -- >> you just said you weren't >> i said we've started to see business travel pick up. and if you ask people where it is, quarter over quarter, year over year, virtually every big firm we're talking about is saying down, it is going down. they are not going to be doing as much -- >> we know that's my point. we know it's down. >> that's the profit margin.
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that's the profit margin on these businesses, josh >> jon, i agree with you but that's in these stocks that's in these stocks everybody knows. everybody knows. so the question is, which direction could the market be shocked. only up. >> here's what i say, scott, if i can jump in. i don't think -- look, in the best of times, airlines are trades, they're not investments, in the best of times when they're charging for luggage and we still see those charges, when they were charging for changes, we still see those coming back. the story is the balance sheets are completely upside down >> we get it here's my point, i'm not trying to approach this as a let's trade the airlines stocks story. i think it's a bigger issue
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about the fact that money has come out of reopened trades, it's gone into tech, and it stayed with the faangs but look at the action in the airline stocks today i'm wondering if it's representative of a way to look at the reopen more optimistically and say, okay, the worst is out there now, so it's okay to take a look at some of these stocks, whether it's the airlines or the casinos or the hotels, and i'm take a look the performance over the last three months, since we started getting delta in every single headline sands is down, hyatt is down, wynn, expedia. that's my point. i don't care about trading the airlines i want to know if these type of stocks are the ones you should be putting your money into now because they did in effect kitchen-sink it and say, it's bad but it's going to get better >> that's what i'm saying. >> let me answer that. and i agree with you, that's the
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way to look at it, rather than focusing on an isolated sector like airlines. and my response to you is that, yeah, i think the worst is probably soon from now but we've got this mu variant in 49 states which is more resistant to vaccines. so that's an unknown delta is cutting back. i think people assume that the world's adjusted, the u.s. has adjusted to delta. that's not the case, that it's coming back, i think that's premature, number one. number two, even if it's premature, it's not like these stocks are trading on the bottom they've anticipated the world is going to come back to normal and they've moved up on that but yet you've got different factors here, as you mentioned, the balance sheet. the bottom line is i believe you can make more money elsewhere, because to me, best case for these stocks is flat to up 5 or 10%. and i think it's a waste of cash to put it there. >> the point is that the recovery in some respects may be
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delayed. it's not over. it's not over. the story hasn't completely turned, it's just been pushed out a little bit more. and oh, by the way, i know covid is on everybody's mind, the delta variant is certainly is as schools get back in the business in the northeast and throughout the country. cramer is out with his list of things to worry about and covid isn't necessarily on the list although it's an obvious worry you've got the preannouncements you've got to worry about as it relates to the delta variant the fed, oh, yeah, the fed, higher interest rates. congress, always a mess. fresh supply of stocks coming onto the market. you've got geopolitical concerns bryn, i find most interesting the commentary from you today when you say you're the motion diversified you've ever been >> yeah, i think that anyone that looks back in history to try to say, talk about the fed and say, what happened in 2013 with the taper, could be something that's similar that
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happens today. we're in uncharted waters, okay? we've never all gone through this collective pandemic globally we've never had the fed be so accommodative while asset prices and just assets across the board have recovered so strong and so i think that when we run our portfolios, and my portfolio as well, i love the q's, i own arc, but i also own a small cap value focus, and i own things like berkshire hathaway and jpmorgan because i don't know what the future holds. i saw cramer's six things to be concerned about. i do think the big risk in the market longer term is a policy misstep, because we all know that we have real inflation in beef, we have inflation in poultry and pork and houses. but none of that gets picked up in the cpi and the pce if the fed is going to continue
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to wait until unemployment gets back to that level, while we have five jobs available for every four, we're in this unchartered kind of banana-land here that i don't know how that's going to play out i want to be really diversified, i love what i own but i'm definitely notgoing to make an big bets on what's going to happen over the next year because i think it's very unknown and there's a lot of uncertainties, mainly caused bit pandemic and the fed >> look, the negativity is certainly building so you can understand why people are getting a little cautious or nerves this week alone, what are we, thursday goldman cuts the growth forecast this week. morgan stanley downgrades u.s. equities to underwait. deutsche bank says expect significant pullback -- somebody grab their phone -- before the pullback so, okay, i'll ask you this, josh is it time to get negative, or is it time to say this too shall
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pass >> i think it's time to say, i hope they take them down, because the market is plus 18% year to date and i probably don't have as much stock as i want to if this rally is going to continue it's the only rational mindset unless tomorrow is the day that you're cashing out your portfolio. so i really don't see a problem with us having some sort of september or october tremors it happens all the time, i'm rooting for it, it's a better opportunity than higher prices and nobody should be shocked by that outcome on average we're off 10% from highs every 18 months or so. so, like, nobody should fall out of their chair if and when that happens. whatever cause we assign to it after the fact will probably be something scary, something like the fed made a mistake or the mu variant or whatever you want to
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say. but it's those times that we say this too shall pass. so i think there's always risk, every day we wake up i know that might not be the most satisfying answer but strategists have been putting out notes about the potential for a correction i've month of every year of every decade forever and that should not dissuade people from investing. >> doc, part of the issue we raised at the top of the show, with the question we asked, is momentum enough to overcome all of these issues. and you've had a strong year for stocks it's rare to have, you know, strength throughout three-quarters of the year and all of a sudden it falls apart at the end without some existential thing that happens that no one saw coming we kind of all know where we're at right now, right? what are the chances of that is that in and of itself enough, the momentum, to overcome
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seasonality and the fed and delta and all this stuff we're seemingly worried about day by day? >> it is, scott. but, and that's the big part here, that the momentum isn't just all on one side it's not just all bullish. ellen zentner cut her outlook for gdp from 6.5 to 2.9. that's a dramatic drop and she's not the only one out there doing that, scott. if you've got gdp forecasts being cut fairly dramatically like that, those are the things that i worry about now, we had a very good report this morning i think it was 310,000, which is the lowest since last march of last year, 2020, as far as the filings and so forth today that's good. and we need a good jobs report hopefully the september jobs report that we'll get that first week in october will be that, scott. we basically got what you and i spoke of yesterday as far as the
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ecb more or less standing pat. they did say that they are ready to start cutting back on the pep, which is their pandemic relief plan, if you will go to the haven't said that they are doing it basically they're in the spate some they were they didn't really goose the market or cause it to drop, because of that statement. so i think we do have mixed momentum, though, not solid, just straight line up momentum right now. >> weiss, i know you think it's a bit of a confusing market we're in, and i sort of raised this issue yesterday if you look at where the money has been going, it's been going to some more defensive type plays in the market. and oh, by the way, you can lump faang in there, which is viewed by many as a defensive place to put money, health care, or other things of that nature. so why make it more difficult
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upon yourself to start trying to pick and choose the cyclical stocks and reopen stocks and ones that may work because of a headline or preannouncement like cramer tabslks about as one of i fears, where you can stay with what works, which is mega cap tech and the calls keep coming, upgrades, reiteration, et cetera, et cetera, positive vibes around that space. >> scott, i think you put it perfectly. and i think that is the right way to look at it. there's no room in my portfolio for speculative positions anymore. there's no room in my portfolio, and there really wasn't, for the uber value stocks. this is not the market for those. if we see a correction, they will suffer more than others to me the biggest risk in the market is inflation. that is number one take all the other stuff, yeah, they're there all the time,
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preannouncements, every quarter it's a risk. but it's inflation i see good news on inflation, i see bad news on inflation. i see a lot of commodities coming down. bryn mentioned pork. hog prices are still up on the year but have come down quite a bit. we're seeing it ebb and flow in terms of commodities but wage inflation is here to say and that will eventually feed into the consumer markets will go up when riate tightening cycles occur. seasonality is down a half percent. so it is inflation that's my concern. >> that's fair that's fair. why isn't the market more concerned about inflation? because i got the ten-year, 131, i'm looking at it right now. the market doesn't seem to be concerned. nasdaq keeps hitting new highs
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okay, maybe not today, but we've been at new record highs market isn't falling apart dow is at 35,000 >> i still think that the bond market is not an indication of the underlying concern in the market >> the stock market's not falling apart. >> it's not, but here's why. i think that if you still had freeport trading, cleveland cliffs at 26, valet at 23, the market would be more concerned we believe what powell is saying, that's why it's not that concerning >> okay. i mentioned these calls on mega cap tech, we do have some news from one of them facebook, julia boorstin with that, julia, what do you have for us >> well, today facebook is under veiling its smart glasses that have been in the works for two years since it partnered with eye wear giant luxotica.
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they're called ray-ban stories, they're just a hair heavier than ray-bans you can use voice control to take aphoto or record up to 30 seconds of video there is an l.e.d. that blinks and a sound to warn those around me that i am recording then you can download the content you've captured to an app and then share it on facebook or an instagram or keep it on your phone now, here is the surprise with these glasses. there are speakers in the side and a microphone so you can connect them through bluetooth to your phone and then listen to audio or make phone calls so they're effectively an alternative to headphones. these glasses start at $299, that's $100 more than regular ray ray-bans they're available in 20 styles with the ability to add prescriptions or transitional lenses to them this is all designed to get people to share more on facebook's platforms but then of course there's a question of how do these compare to what else is out there.
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snap, as you may remember, as its own smart glasses, spectacles those do not have audio capabilities but the latest version of spectacle for developers has augmented reality capabilities these from facebook are right now just for capturing video and audio, they do not have anything ar about them just yet, guys >> thank you for that update on facebook dr. j., it's one of your big positions. >> number two. >> target goes to 300 today. even though it's reiterated sell at hsbc, they're looking for 20% downside, some of that has to do with antitrust expectations. although frankly any of those headlines over the years has done nothing, really, to the stock. what do you make of this call? >> exactly, scott, you hit the nail on the head every single time, whether it's
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the european union, whether it's california independent of the other states going after facebook, you look at those dips, they were muted. then you look at the subsequent rallies, they were awesome so do i like what facebook does as far as tracking us? no but do i like it as an advertiser on their platforms? i love it, because just as kevin o'leary would say, they can geolocate you, get those messages to you, they know where you're at. the more people using whatsapp, instagram, as well facebook, the better they can track everything you're doing and advertisers want that. do i like it no but do i want to make money? yes. and so that's why it's my second largest position >> i think what i'm trying to get at as well, look, josh, if you say, okay, i'm not in live nation today but i've heard josh brown talking about it a lot and i know how bullish he's been, i'm not in microsoft today, but
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man, i hear pete and the whole gang seems to own microsoft. i'm not in either one of those stocks, and i'm wondering about delta, and i see all the stories about preannouncements and i'm wondering where the recovery is going. and i see the fact that these mega cap tech stocks are holding up do i put my money today, if i want to buy one of those stocks, into live nation or do i just play what deems to be safe and put it in a microsoft, for example? can you feel me on that? >> yeah, i mean, microsoft is only safe if you're investing in the rearview mirror. you can't have the gains that have already been accrued. so it's the perception of safety because it's just worked out like, this is the trick that all of our brains play on us it's hard to avoid it, right so we have to logically talk our way out of, wait a minute, this isn't safe just because it has been safe. but to answer your question more directly, the average viewer of
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this tv show right now, like the regular investor, has a huge advantage over the professional investor i know weiss is probably rolling his eyes but let me finish the statement. professionals have massive advantages over average investors in almost every way. information asymmetry, connections, people to talk to, the early calls on things. but in this particular way, you're better off being an individual nobody's paying attention. so if you buy target or costco or live nation or home depot today, and it's 10% lower next week, nobody cares no one's judging you you don't have to explain yourself in a meeting. you don't have to write a dear shareholder letter you don't have to worry about that you can own some now, you can add when it falls, you can add even more when it falls lower. if you're an investor. if you're a trader, you can set your stop. you can say on this particular
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purchase i'm willing to risk 8% to make 20%. you can do that, and then you don't have to answer to anybody about it that's a huge advantage. believe me, i'm a pro, everybody on this show has to answer to hundreds or thousands of people. so take advantage of that and utilize that as the strength that it is don't worry about perfection don't worry about nailing the bottom, nailing the top. you're never going to do it. i can't do it. you can't do it. >> let me do this. before we take a break, let me get to one new move in the market weiss, don't don't go there, okay i want you to focus. >> i'm holding back, you have no idea >> i do know because i can hear it >> i will hold back. >> i see this new position -- >> put it on twitter >> he probably will. a new position in penn, p-e-n-n. tell me about that before i go to break >> sure.
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so look, we're coming into football season. gaming as betting, which i look at it as gaming, has picked up dramatically all the statistics i read, it's continue to grow at exponential rates. why i picked penn as opposed to draft king, number one, they make money i love companies that make money. i hate companies that lose money. number two, they've got this guy, this dude, david portnoy, one of the best marketers i've ever seen. number three, it gives me an option on physical facilities because they own casinos when the market does reopen, the economy, people start going back, that will hypercharge the results in thiscompany so i like it, i think there's huge upside here, much more so than draft king. >> i appreciate that bryn has a new buy too, or at least adding to a position, which we'll talk about coming up lululemon shares are soaring, by
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the way, and a strong outlook. the investment committee will debate that trade, coming up next plus steve weiss mentioning, football is back that means al michaels, one of the most renowned sports broadcasters of all time, will join us as usual ahead of the nfl kickoff. we can't wait for that we're ba itwmiteckn o nus. no dad, it's a video call. you got to move the phone in front of you it's a mirror, dad. you know? alright, okay. how's that? is that how you hold a mirror? [ding] power e*trade gives you an award-winning mobile app with powerful, easy-to-use tools and interactive charts to give you an edge, 24/7 support when you need it the most and $0 commissions for online u.s. listed stocks. don't get mad. get e*trade and start trading today. wealth is breaking ground on your biggest project yet. worth is giving the people who build it a solid foundation. wealth is shutting down the office for mike's retirement party. worth is giving the employee who spent
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welcome back i'm rahel solomon.
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for the first time since allied troops withdrew from afghanistan, a commercial passenger jet has taken off from kabul. some 200 foreigners including americans were on board. the flight marks a significant breakthrough in the bumpy coordination between the u.s. and afghanistan's new taliban rulers and on "the news," what the flight says about negotiation with the taliban and what more flights might happen, tonight at 7:00 p.m. eastern. amazon says it will now pay for its workers' college tuition, books, and fees amazon is adding education programs for data center management, i.t., and user experience and research design and sotheby's has landed one of the largest art consignments in years it will be auctioning the mackloe collection of modern art. they expect to bring in $6 million. scott, back to you >> rahel, thank you. bryn, you have an addition to a stock you already held, and that is coinbase
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why did you add more >> i've talked about the stock before i own the stock, i'm a big fan of brian armstrong, i'm a big believer in the technology around cryptocurrencies. yesterday with the big kerfuffle with sec and coinbase wanting to offer a yield product, the stock sold off it came down to about 257. i think what people need to understand is, last quarter coinbase did about $2 billion in revenues, i think $1.6 billion in net income. they also have $4.4 billion in cash so if you look at their runway, this company is growing so fast. i think over the next year or so, you can see their net income for a year come in close to $8 billion. the stock is at about a 50, $55 billion market cap they also just entered, they got regulatory approval to offer coinbase in japan and germany,
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which are really big crypto markets. i think similar to when paypal last year announced they were gone over cryptocurrency, just like square, very accretive to their bottom line. i think it's early days for coinbase i took the volatility yesterday to add to the position >> good stuff, we appreciate you updating us on that. let's talk about the stock of the day, lululemon, soaring on its earnings s the company raised its outlook. dr. j., it's up 12.5% right now. i'm paraphrasing cramer who said basically they're doing things now you thought they would be doing in 2023. >> that's what the ceo said too, scott. the ceo said we will surpass the revenue that we were projecting in 2023, this year so that's exactly right. jim, as usual, is pretty spot on the fact that they had 58% gross margin, scott, how do you not
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love a business that has that, as well as direct to consumer double what the street expected, it was up 8% year over year. there was not a single miss in this by lululemon. and it has caused other areas of the market, for instance nike, to also get some pretty significant lift i bought some nike, 165 calls today, because people were jumping back in there saying, wow, maybe this trades up through tomorrow, if it does i might roll out and own it for another month or more, scott yeah, this was a blowout quarter for lululemon. i know there's a happy courtney gibson down in atlanta watching the show right now >> yes, there is, i know that to be true. lululemon price target today raised to 500, jpmorgan, 500 473, btig. 419, morgan stanley. 410 at wells stock hit a new high today, yep,
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the high was 434.22. steve weiss, where did you sell this one >> i sold it, i think it was in the mid-threes, around 360, so i missed out on it however, scott, to your point, which i'm sure you're going to make next, i bought dick's weeks ago, that's up close to 70%, i made more money from dick's for that short time than i would have owning lululemon for this whole period you knew you were going to get there. >> yeah, right moderna is a nice winner we've said on many occasions, one of the best picks we've had on this program for an awfully long time. do you want to talk about this move, weiss, 6.33% >> it's r&d day, and forever >> you can't even take a compliment well. >> i thought i took it great
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they increased their pipeline, therapeutics and vaccines, over the last year from 23 to 34. let me give you an amazing statistic. in terms of comparisons to merck, which i heard in some of the shows earlier today, they were saying, wait, this is almost as big as merck, how can that be? here is why. in terms of revenue per employee, moderna is 3.5 million per employee and merck is 290,000 per employee in terms of net income, moderna, 2.2 million per employee merck, well, they're about 50,000 per employee. so usually more profitable, much more efficient allocator of capital than any pharma or biotech company. you can't compare moderna to merck any more than you can compare amazon to macy's you get my message here, this is a technology platform that has tremendous innovation and because of their technology, the
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time to market for their therapeutics and vaccines will be much quicker ultimately so yeah, moderna still the cheapest stock i own >> maybe that helps answer the next question. i'm trying to help our viewers as much as possible. do you think about how long you're going to hold this? is this, i'm holding it for forever, foreseeable future? do you take any profits? how do you think about that? >> so i have the core position i trade around i bought some more stock yesterday, for example, i tweeted it would be my final trade going into r&d today these companies come along once in a lifetime or twice in a lifetime, as i mentioned with amazon and apple so look, you can trade around it if you want but you'll pay taxes. it wouldn't surprise me to see the stock trade back into the 300s, maybe mid-300s that's an opportunity to add a trading position to your core position yes, i think the future is very
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bright >> thank you for that. famed football announcer sports legend al michaels joins us next solar power could provide nearly half the nation's electricity by 2050 according to the department of energy to reach that goal the u.s. needs to increase its solar capacity by an average of about 11% per year for the next 30 years. ramped up demand could provide a boost for companies like first solar, sun run and sun power, all negative for the year. and that's your esg fast fact of the day. esg fast fact is sponsored by morgan stanley. offers investors a broader view. ♪♪ we see companies protecting the bottom line by putting people first.
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we see a bright future, still hungry for the ingenuity of those ready for the next challenge. today, we are translating decades of experience into strategies for the road ahead. we are morgan stanley. all the things, all around you... where you learn, work, and fly... we help make them healthier. we are the people of abm. for more than 100 years, we've been a leader in making spaces cleaner,
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the nfl season kicks off tonight when mvp tom brady and defending buccaneers host the dallas cowboys the man calling the action will be emmy award winner and hall of fame sports broadcaster al michaels who joins us now from tampa. it's good to see you again, welcome back >> scott, you do know this is an annual visit this is my favorite interview of the year i love you guys. it's the greatest show on
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television love to be with you every year >> so good to have you, i look forward to it always as well i know you're looking forward to the season fans are back. i can't imagine what it's going to be like for you energy in the building you don't have to try and create that all on your own what are you looking forward to? >> well, here in tampa, of course, they call it champa bay because the lightning won the stanley cups what can you say about tom brady? 44 years old he must be eating enchanted rhubarbs or something. he looked great in pratt other day. again, it's five months between now and the super bowl on february 13. a lot of stuff can happen. but the buccaneers do have a pretty good opportunity, the first team to repeat as champions since the '03-04 patriots led by, who else, tom
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brady. >> they return everybody, so they're loaded we were just showing some pictures as we were talking, he'll, of dak and the cowboys. they think they have a pretty good shot too, he looks pretty good >> we talked to him last night he didn't play during the season because of shoulder strain, comes off a broken ankle, hasn't played in 11 months, but sounded tremendously confident he thinks elliott is the best shape of his career, running back they've got great receivers. they're a little banged up on the offensive line, that could be problematic tonight the great thing about the cowboys, as you know, it's always about drama who are they what are they? how about them cowboys we don't know, we'll find out tonight though >> i'm wondering if you have in your mind a surprise team or two that you're in addition to could make some noise this year. i know there's a lot of hype about the chargers and their quarterback. trevor lawrence down in jacksonville, the can't-miss kid
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who is finally in the nfl. how do you feel about that >> i think you're right about the chargers the way justin herbert played last year, he's really good. they've got a brand-new coach, brandon staley, who came over from the rams. a lot of people are picking the rams to win the nfc. do i see a los angeles super bowl in los angeles? the odds are pretty high on that but i mean, those two teams should be there at the end >> that would be amazing i tweeted out earlier that you were going to be joining us and that you were also on honorary member of our investment committee. you should be on a regular basis, you kipicked kkr a year ago, it's only up 82% since, al. >> i don't want to brag. but last year i was in kansas city, you asked me for a prediction which i don't normally do, i'm paralysis by analysis. but i happen to love that company, i think george roberts is a fantastic ceo and i think it was $34 a share,
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now it's 63 bucks a share. once in a while i put on my josh brown hat and hit a home run >> speaking of, do you want to ask josh anything about your portfolio at this point? >> hey, al >> i love josh listen, i know you don't like the fact that i like the etfs on steroids, we talked about that in minneapolis a couple of years ago when i first met you look at sso, look at the s&p >> they keep working >> i know, it's supposed to be in and out in the afternoons, the day trading thing. i've had it for years. you know what, it's been pretty fantastic. josh, i'm not going to change your mind. >> you're right. >> once in a while >> you've been absolutely right. i have been wrong. but from a process standpoint, these do carry a lot more risk in a choppy market, a flat market, or a down market, than a
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lot of investors are aware of. but i know you're more sophisticated than that and you know how you're using them one thing i would point out, though, if you look at sso when the pandemic started, from february to april, the s&p fell about 30% and this fell 55%. so it works great on the way up. it works great on the way down and as long as you understand what you're doing, it shouldn't matter what anyone else's opinion is by the way, al, you've made a ton of money with this thing so my hat is off to you >> but you're right, josh, that was a frightening time between like february 20 and april and i was thinking about getting a sleeping bag and checking out of the home and sleeping outside. fortunately everything bounced back >> do you want to see if lightning strikes twice, do you have another stock that you recently bought that you want to throw out there? >> i don't
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great stocks for me over the years, home depot has been fantastic. i'm behind it now. all the stocks i've been lucky with are way, way up look, what i do, the investment committee comes on, you all put what your holdings are, i take a picture of it and look at it and that's how i make my bets down the line >> we appreciate having you as a viewer we wish you a great call tonight. have a great season. hope to see you at some point during the season. you be well. >> you guys are the best take care. >> that's the great al michaels joining us today watch all the action tonight, the season kicking off with defending super bowl champs tampa bay, they host the dallas cowboys. coverage begins 7:00 p.m. eastern on nbc and there's more the los angeles rams play the chicago bears on sunday night football that wraps up the weekend action that's going to be a great game too. catch both matchups on our sister network, nbc. and of course they're streaming on peacock as well next on the half, jon's latest trades. we're back after this.
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it's a thirteen-hour flight, that's not a weekend trip. fifteen minutes until we board. oh yeah, we gotta take off. you downloaded the td ameritrade mobile app so you can quickly check the markets? yeah, actually i'm taking one last look at my dashboard before we board. excellent. and you have thinkorswim mobile- -so i can finish analyzing the risk on this position. you two are all set. have a great flight. thanks. we'll see ya. ah, they're getting so smart. choose the app that fits your investing style. ♪♪
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starboard failing in its efforts to win a board seat on box. leslie picker is following the money as always. i guess all winning streaks are meant to come to an end at some point, leslie. >> they call it a reversion to the mean for a reason, scott, i guess. this is, as you mentioned, a rare defeat. the last time starboard lost a shareholder vote was 2012 with aol. two sources said starboard received support from less than a quarter of the shares outstanding including its own 8.8% stake i'm hearing that turnout was strong with upwards of 80% of shares voted in today's election two sources saying store board's peter feld received the most support on the dissident slate, the three-person slate out of the ten-person board aaron levy was reelected to the board solidifying his role starboard at one point during the fight was seeking to remove
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him or sell the company. instead, the firm said, it's, quote, disappointed by the results of this election which were heavily skewed by the voting rights tied to the financing. in chatting with those close to this one, it appears settlement last march with box where three new independent directors joined the board at the time diluted its argument in this most recent fight shares of the company had underperformed since its 2015 ipo but this year amiss the board refreshment and improvement in fundamentals, box shares beating but declining significantly on today's ns.ew unusual activity with the dr. j is next. serena williams... wonder woman. serena... wonder woman... serena... wonder woman... ♪ ♪ ace. advantage! you cannot be serious!
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dr. j, what do you got for us, unusual activity today >> snap, snap, quick, scott. coty, november 8 calls with the stock at about $7.50 they bought 20,000 of those. second one, alternative fuels. gevo this one they also bought a big number about 18,000 of the 7.50 calls these are calls in september, though, scott. lastly, ea ea we're seeing with the stock at about $140, we see the september 24th expiration, 143 calls. bought, bought, bought big numbers here as well all three, i am in, scott, and
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i'll be in them until close to expiration >> appreciate it, doc. we'll step away quickly and come bacandoin tdek d falras next - had enough? - no... arthritis. here. new aspercreme arthritis. full prescription-strength? reduces inflammation? thank the gods. don't thank them too soon. kick pain in the aspercreme. ♪ ♪ don't thank them too soon. ♪ ♪ ♪ ♪
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[ding] don't get mad. get e*trade and take charge of your finances today. i'm 53, but in my mind i'm still 35. that's why i take oste bi-flex to keep me moving the way i was made to, it nourishes and strengthens my joints for the long term. osteo bi-flex, plus vitamin d for immune support. okay final trades dr. j, i understand you just bought some calls in a stock that people might recognize the name from, from josh, matterport >> i know this will put a smile on josh's face bought the 17.50 calls scott buying calls out to 20 that expire next friday i'm in >> all right interesting. watch that stock rise as we talk josh brown leslie's initiation of coverage today
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they say the stock is worth $28. i think it's worth $28 and more. >> pool supplies there as the summer wraps up. bryn >> yeah, lit, if you want to play the is ev market. it focuses on the mining, refining and battery production around lithium >> weiss >> dks, dick's, attitude this morning. >> good stuff, everybody "the exchange" is now. >> thank you, scott. hi, everybody. i'm kelly evans. here's what's ahead on "the exchange." the market's brief recent losing streak has people wondering, do you stick with what's been happening or start to get defense sniff our guest has three names that he thinks will work into the year's end they just announced they'll be paying the first dividend in company history. with natural gas prices surging to a seven-year high, we'll speak to the company's ceo about whether this situation is sustainable or will it choke o


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