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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  May 3, 2018 3:00pm-4:00pm EDT

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neil. we watch a market, really trying to hang on to the flat line, you can see down eight points right now, on a very big news day but you know, all of them are big news days. that's the world which we now live. liz claman, is taking . >> you are so right. we have been so busy for the last 2 1/2 years, every single day, the flow has gone the dramatic, but today is specifically possibly historic, the white house is no doubt chattering after sarah sanders, the press secretary was put in a very difficult position left to answer questions about the stormy daniels case which she says she learned about on television last night and when we say case, we mean the $130,000 payout that president trump, through his lawyer, giuliani, saying he did know about. she was peppered by the white house press corps about the truthfulness of the white house payments to the porn star,
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stormy daniels and just a couple of hours ago that republican representative charlie dent of pennsylvania got a little frustrated here saying americans have to start asking how does sarah huckabee sanders go to work every day if she was sent out there to mislead the american people? again as we say, a very difficult position that she is put in right now. what came up? trump attorney michael cohen wiretaps. what's on them? she can't attest to that because she is not part of the personal legal team here. north korea hostages, yes, she says of course the transportation would like to see the american hostages released there. very few answers sanders gave when it came to what was going on with the stormy daniels situation but certainly riveting and certainly one for the history books. and again, we're reporting this because it was certainly out there, referring most of the questions about the payments to president trump's lawyers.
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all this happening as we watched a major turnaround on wall street to the upside get squandered. dow jones industrials up about 21 points but the s&p which had been higher down 5, to see the dow up 18 is a nifty trick, it had fallen more than 400 points this morning. we scratched that back and more. early tensions over team trump trade trip to china evaporating at this hour. treasury secretary steven mnuchin and crew in beijing with the intentions of reducing hundreds of billions of deficit with our biggest trading partner. connell mcshane in beijing and the man who helped write the military and economic playbook for china. michael pillsbury gives us the recipe he says will bring success with the fractured relationship between the u.s. and china. plus the talk of wall
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street. this bizarre corporate conference call with elon musk of tesla has wall street chattering and questioning whether the ceo really belongs at the helm of the company? tesla took a hit with numbers for the quarter, but a brave young retail investor and youtube vlogger has a totally different perspective on criticism against elon musk. meet the host of hyperchange tv, how he got to go one on one with musk, he's here in studio. and small business week, we will tell you how can you use the 1% edge to build profits and fight the amazon effect, or join it. we're less than an hour to the closing bell. let's start the "countdown." all right, we're looking at wall street at the moment, aside from what just happened in washington, d.c. with the
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news conference. the markets are at least holding on, i wouldn't say by the skin of their teeth. gains for the dow up 23 points, s&p is barely lower by just under 5 points and the nasdaq which had been up, you know, down, rather 109 points now down 6. i'm going to call this a comeback at the moment. everything can change in this final hour. we've been seeing that lately. tesla, the investors are definitely slamming on the brakes after what morgan stanley veteran auto analyst called, quote, the most unusual conference call post earnings or reports in his 20-year career on wall street. tesla down 5.5%, one of the worst performers on the nasdaq and one of the most heavily moved stocks at this hour. this is after ceo elon musk criticized, snubbed and snapped at analysts on the conference
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call after they reported quarterly report costing the company $4 billion in market value some. say because of the way he behaved. we're going to play all of that for you coming up. not every call participant walked away bruised or bleeding. one shareholder stole the show and elon musk's attention. how did he get on the call? and you know what? he asked decent questions, i'll give him that. we'll teach him how to throw a few hard balls. cardinal health down nearly 19%, why is it plunging to the bottom of the s&p 500? the lowest level since october of 2013 after the drug distributor missed profit estimates and lowered 2018 guidance, it cited supply chain issues. spotify singing a sad tune. shares of the music streaming company looking at worst day since direct listing on april 3rd it.
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missed analysts' estimates for revenue and earnings per share but i love spotify and my kids steal my account and knock me off it. spotify down 7%, it stands at $158 a share. i don't need to say this but i will. this is why you have to watch fox business, things are changing in a blink of an eye with all of the news hitting the tape. what we do i feel we do best at the claman "countdown," all kinds of equipment that give us the breaking news, you can see that the dow staged that significant comeback, down 400 and punching back up to the green here, now simply flat, but it does look to snap a four-day losing streak. the blue chip index pared the gains and look at the critical 200-day moving average, called the 200-day moving average, it did dip below, that that's always the sign that maybe we're going to have a little struggle to try and scratch
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higher, but at the moment one point higher. as we continue on, we're going to look at the vix index, the volatility or fear index paring gains after touching the highest level in more than a week. everybody got panicked and the vix spiked. intra-day we're well off the highs here. up about 2%. what happens in the next 53 minutes? how do you trade such unpredictable markets. to the floor show and the traders on the new york stock exchange and the cme group. teddy weisberg. you tell me what news was so good that we went from down 400 on the dow to now up 17? >> i don't know specifically but clearly if you look at dow stocks, look at boeing, 3m but boeing in particular, had a huge swing today and when we were just up 30 or 40 points, at the lowest, boeing was
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trading at 313. now that it rallied dramatically, 50 points of the dow recovery. so you have a few very high-profile stocks that are pushing the averages around, it's very, very difficult here, liz, and what will happen for the next 30 or 40 minutes between now and the close, how would you trade it? and i would say it's almost impossible, from my vantage. i think there is a bigger picture here and the market is telling us with all the volatility it's just too hard for most mortals, probably a good time to do nothing and get out of the way. >> phil, you are resident spiderman and always jumping and have the ability to be very fleet of foot. teddy's right, it is almost too dangerous to be a day trader, although you could catch a wave or buy at the bottom when we
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have the flash dips. i still have to trade that. >> it is tough for the average person, and you really have to be a professional trade ebut i can tell you professional traders are loving this volatility. there are patterns that we've seen in the stock market over the recent months that repeated themselves over and over and over again. look at the dow 23, 24,000, how many times we were there. we tested out the 200-day moving average. if you would have bought closer to the 200-day moving average every time, you would have made money. teddy's right, buy a fund, hide it under your desk until the end of the year and you'll be fine. but don't look until then. >> i'm looking under the desk, not a lot of room here. scott, i need to talk about treasuries, investors own or look to them as a guide of what's going on in the world, certainly from a monetary
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policy standpoint. the two-year yield hit a 9 1/2-year high of 2.51%. we've come off, that 2.49%. that's most sensitive to monetary policy. what does it tell you today? >> well, what it tells me coming out of the meeting, liz, we don't have a clear cut direction what the fed is going to do not just the rest of this year but 2019 as well. that's why you haven't seen much of a fluctuation in the ten year. the most sensitive is the two year, backing off today as things eased a little bit but it goes to show you the volatility in the overall marketplace, not just in the bond market, not with what the fed is expect bug in the stock market as well, and much to teddy's point, a couple of the big stocks change the market today, and you know look at caterpillar with the downgrade, that stock was down 3, 4 bucks
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this morning, rallied back and was up a dollar. it's tough to trade this market right now unless you're a trader on the floor. rob: scott you're going to be thor, and teddy the incredible hulk, he was one of my favorites. superhero, not mere mortals. keep it here, earnings due at the top of the hour. cbs could see drama, maybe comments about battle with viacom to remerge. david and melissa will run through the numbers after the bell. right now, let's see it's a little after 3:00 a.m. in china. the u.s. delegation, the team is in the country and may still be applauding, there are seven of them. the chinese media already trying game it and tweek it and weigh in. connell mcshane with what's in the local papers there. i can only imagine they're saying yeah, do what you want,
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we'll fight back. >> just about, un all the media is state run, i was watching one of the state-run tv newscasts. first words, china's long before a firm supporter of free trade. and went on and spend a lot of time talking about it in tv. to your point of the china daily, right at the top of the front section here in preview article and along the trade discussions but there's an editorial inside this paper getting a lot of attention it says china will stand up to u.s. bullying as necessary. so talk like that, can you see why the experts don't have high hopes for what may come out of the talks when they wrap up tomorrow. as for secretary mnuchin coming through the streets of beijing earlier today heading out to the talk. big issues, certainly the usual suspects surrounding technology, intellectual property theft a lot of that to come up.
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everybody is watching soybean prices, bloomberg had a story about china not buying soybeans from the u.s. anymore. we went to a market in china where they import products from the u.s., fish and other things from new england and some of the merchants were telling us they have seen supply disruptions. i think the bottom line when looking at the papers, if there is no big deal signed as a result of the talks here, these issues will hang around, to know have an effect on supply chains. continue to have effect on people's business and certainly continue to be front page news in china and back there in the u.s. we're hoping to have an update from secretary mnuchin tomorrow night before he flies back to the united states. >> dare i call it propaganda, they are saying we would lose, i think i saw an even number, 140,000 jobs here from the 50 billion in trade tariffs on goods that the president has
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threatened to put on. we'll be watching it. connell mcshane is right there in china following every step of it. he won't be sleeping, so don't worry. he'll break all of the news for us all hours of the day and night. this tesla story has legs. tesla runs off the rails. with the closing bell ringing 46 minutes away and the dow up 17. always the disrupter, ceo elon musk disrupting the traditional conference call yesterday after tesla's massive quarterly loss. it's been called a bizarre rant, combative and the strangest conference call ever. one financial video blogger disagrees, we'll introduce you to the youtuber and tesla investor, that kid with, musk's invitation who hijack the call from traditional analysts. hyperchange tv, the day after.
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. liz: this highly unusual and controversial earnings call for tesla is the talk of wall street. you can see the stock sinking, the minute ceo elon musk started insulting analysts and even insulting his own guests.
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we pulled out some of the most controversial moments during the call. listen and judge for yourself. >> every data point that we look at internally suggests that we are best in class, but we don't -- >> it's not a class. >> we're the best. >> the best in class. >> so where specifically will you be in terms of --
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. liz: here with us right now, galileo russell, a tesla retail investor who crowdfunded his way onto the tesla call, usually reserved exclusively for analysts and institutional investors. you're the host of your own youtube channel, hyperchange tv. how did this come about, that you got to ask one question, you were on for 20 minutes asking questions of elon. >> so the reviews of the tesla conference calls are one of the most popular videos on my channel and my subscribers suggested i try to get on the call and wanted to vouch for me, i started a campaign to do that, and 200 shareholders tried to get me on the conference call and tweeted elon and he went for it and wanted me on the call. liz: you probably thought you were going to get one question? >> did i think i was going to get one question, assumed that would be the end of the call.
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i prepared 10 to 12 questions and got a ton of information from the hyperchange community and my fellow tesla bloggers. i was ready to go, i kind of ran with it. >> you were on the call with the big boys, the so-called heavy hitters. the barclay's, deutsch analysts, i believe piper jaffray, goldman sachs, morgan stanley and suddenly he cedes the floor to you, and we worked with elon for years. i think i was the first journalist on television to interview him 100 years ago about spacex, but maybe he was feeling attacked and thought i'm going to get softballs from you. i would like to say that you started asking him about that very floor that elon and i are on right now. where they make the teslas in fremont and you brought up the model y which is supposedly the new upcoming car. you asked will it be made in
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fremont? that makes news, whatever his answer is, correct? >> there was a reuters report that it would start in late 2019 which is in direct contradiction with the previous call. i wanted to clarify that. liz: another analyst pushed him and said no, it's going to be wrong, it's going to be probably 2020, not 2019, right? >> yes, exactly. liz: what do you think of elon musk now? he was rather harsh on some of the analysts. do you feel he gets a pass because he is such a disrupter, and, you know, let's keep in mind galli, three quarter of a billion dollars in losses this quarter? >> i think he has long-term retail investors in mind and quarter after quarter that analysts ask the questions that the analyst he cut off asking something that had been referenced in the shareholder letter that had been put out. they're not adding value to the
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long-term story. there was a ton of pent-up enthusiasm to get the next capital raise. liz: how many shares do you own? >> 54. >> at what lowest point did you buy? >> almost all those i bought at about $200 per share. >> you are up 84 bucks per share. and finally the youtube channel, how many people do you have following you? >> just a little after 10,000 after the news hit. liz: before the conference call, how many? >> about 8,000. liz: are you going to continue with the backward baseball hat? i like it? >> i try to be authentic, that is what's missing from the situation, people see analysts in suits super corporate not representing the shareholder and that's why i started my channel, i want to inspire millennials to take an interest in finance, by showing what i am, i think i can do that. liz: tesla, buy, sell or hold? >> holding for ten years, super long-term. liz: good to see you.
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come back on the next call. are you picking your stock to muscle your way onto a conference call? >> i only own tesla for right now. liz: you need to broaden your portfolio. galli russell, good luck to you. >> thank you. liz: cisco off to the races, with the closing bell ringing in 36 minutes. the dow punching higher. cisco leading the dow 30 after jpmorgan initiated coverage at overweight with the price target of 57 bucks. stocks at 44.62 right now. not the same for aig, taking a beating after wicked winter storms contributed to $376 million of catastrophic losses in the first quarter. bigger than expected. aig down 6%. up next, the amazon effect. even the president jumped into
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. liz: when you think of the amazon effect, you might think of how the e-commerce giant, if you've heard, may be trashing big chain retailers and stocks. others complained amazon crushed the mom and pop small bes as well. they sell and sell big on amazon's site. take a look at this. there are more than 175,000 smaller retailers on amazon from california, followed by new york and followed by
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florida with 175,000 small businesses who moved wares and products on amazon does. your company want in or on amazon's selling site or on the shelves of big chains like walmart. we bring in the author of the 1% edge, susan, good to have you here. small business is the back bone of the u.s. economy and many of them are listening right now. how can they make the leap to start moving their product through amazon? >> quite easy liz to sign up for the amazon marketplace and brilliant for amazon to do. this a lot of people criticize amazon for this, amazon gives the small business a greater market and opportunity to reach new customers so really very easy. if you want to sell a lot on amazon, there's a professional fee, about 40 bucks a month or as an individual accept the
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amount of product that you can sell. hurtle for small businesses is a lot of them think i'm on amazon, i'm turning on the money spigot. you have to promote it, you have to let people know you're there, and the more you get, the more you show up on the rankings on amazon. liz: tell us how business owners are dealing with the economy today, it looks like we're on much firmer footing, may have dry powder in the form of taxes that were cut for them. how are they spending that money or do they get bigger tax returns? what is the true story for small businesses right now? >> it's a mixed review, personally, i believe that the tax reform is great. we were happy to see it. it's not the end all and be all, the pass through entities probably didn't get exactly what they wanted. what is telling to me, for the first time, we're seeing historical highs in terms of the number of job creation from
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small businesses. that said, hey, we have a good economic outlook. majority of them say we're going to have better revenues this year than last year. optimistic about the future holds but having a hard time finding qualified applicants. >> i have the book, the 1% edge, and the best example of this and we were reading it. you brought in build a bear which is the customize your teddy bear company. what did they do right, the 1% edge? >> the 1% edge helps companies build innovation processes in the company's dna. strategic plan is dead. you've got to be making real time decisions and back in the day, we used to share messages with audiences and we were tossing it out. now it's a two-way street. you have to engage that customer, and you really have to know what you're selling. you're not telling what you think you are, you are not
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selling that widget. what i love what maxine clark did, i collect teddy bears, but you buy them pretty much all the same way. i can go online or into a discount store and pay ten bucks for one. go to germany and pay hundreds for a stieff bear, she is selling experiences and memories, that's where you take that special person in your life. liz: there is still a line out the door on fifth avenue at build-a-bear these days, i had a kid's birthday party for my daughter. it's an experience, not a teddy bear. if you have a business, susan, good to see you, thank you very much. >> thanks for having me, liz. liz: team trump says ni hao, treasury secretary steven mnuchin and the american trade contingent are on the ground in beijing working to bring an end to a simmering trade
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disagreement. michael pillsbury helped write the rules of america's china policy for multiple presidents and he's working with president trump. what he expects from the delegation, next on "countdown."
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i am an independent financial advisor. when i meet a new client, i start by asking questions like:
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strategy at the hudson institute. you've known all along that this is precisely what the chinese wanted to do. they want to replace us as the global superpower? how close are they? >> getting pretty close. they're closing in on us. nobody expected it to happen this fast, including the chinese. they had a timetable before they would pull even with us by 2020, double our economy by 2030, now they think they're ahead of schedule. you have to admire them, but they didn't count on president trump. this is the one thing they left out of master plan, this bold negotiator who has their number, he's been thinking about china 15, 20 years himself, writing about it. this is going to be interesting to see what happens when the two superpowers, if you will, slowly move into the trade friction and possibly trade war. liz: there is friction between the u.s. and china, it appears there is friction within our
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own team. it's not necessarily everybody holding hands and singing kumbaya. they have different opinions, and wilbur ross comes in with a different perspective, we have a colorful prism here, are the chinese swallowing this? what do you think? >> they are having a field day talking about divisions in the american delegation, they recycle publications from larry kudlow, peter navarro is one of the demons. liz: he's the hawk here. >> wilbur ross is hawkish, too. i admire his views. i asked him mr. ross how many times have you been to china? i thought he would say three or four, you know the correct answer? liz: 48? >> 84 times when he went with the president last november, that was 85. this is his 86th visit to china. he knows what he's doing. liz: he was diving into greece
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every third day during the crisis. that's what he does, he goes into area and finds a way. what do they need to do to simmer down this trade war, and in the end, the chinese, i don't know, you would know better than i, they cheat and repeat. they promise that they will drop tariffs on u.s. cars and nothing happens. >> well, their long-term strategy, they say, is to copy what america did from 1870 to 1910. they claim we stole ideas and technology from the british and the germans and we kind of very sneaky manner became number one in the world. they say they want to follow the american path. they say they're going to make concessions. it's been about a month of comments from the chinese side, so we can reduce the tariffs on cars. yes, we can open up our service sector a little bit more. please be patient with us, we want reforms, but the dirty little secret that president
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trump knows very well, only about half the economy is free market. other half is still under state control, and they're focusing on what they call the national champions. top 100 companies in china, which are now global factors. no one saw this coming. >> they have a plan, and it's not a three-year plan, it's a 10, 15, 50 year plan which is admirable. this country, they act like they're a baby and give us time, be patient. they've been members of the world trade organization for ten years, the second largest economy. it's time to grow up and behave like an adult country, right? >> yes, the good news is there's a debate going on in beijing, economic hawks who want to be tough, they complained this morning about bullying and already to say some harsh things tomorrow to the delegation on the last day, but there's reformers in china. unfortunately some of them in jail. but the reformers want to go
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all the way with the free market. they want to be like america after 1910. this group is in a position to help us, but so far president xi is basically siding with the hawks and doesn't want to make any serious concessions, that's the problem. liz: michael, have you advised everyone from president reagan to carter to the bushes to clinton, i believe obama, everybody. >> i have a lot to answer for. liz: they're all blaming you. who's going to be successful here? will it be president trump? >> in the end, i think there's going to be some victories by president trump. he's on the right track to focus on technology, supremacy. we can't let them steal our best trade secrets and remarket it to the world. that's the hardest not to crack, and president trump is ready to focus on denying technology supremacy to china. he's on the right track. liz: i'm sure wilbur has a pullout couch in his hotel
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room. you should go help him. >> they don't need my help. liz: michael, great to see you, thank you very much. >> thank you. liz: michael pillsbury. omaha bound, with the closing bell ringing in 17 minutes. we're getting ready, team fox business to head to the berkshire hathaway annual shareholder meeting. we're going to let you in on the ticket you've got to have to get in there next to buffett. i've got it for you and what charlie munger really thinks about bitcoin. we were the first to ask him four years ago. running a small business is demanding. and that's why small business owners need more. like internet that's up to the challenge. the gig-speed network from comcast business gives you more. with speeds up to 20 times faster than the average. that means powering more devices, more video conferencing, and more downloads in seconds, not minutes. get fast internet and add phone and tv
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. liz: okay, everybody, i have in my hands my press credential and a shareholder credential
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for the berkshire hathaway annual shareholder meeting. you've got to have these to get in, and the only way, if you're not press, to get in is if you own berkshire share. rushing from the studio to board my flight to omaha, i've confirmed they sold a record number of tickets to this thing, around 42,000. a mad crush around 87-year-old founder and chairman and ceo warren buffett who started the company with money from the relatives. why did they come? 70+ companies are so diverse from energy to insurance to consumer products to net jets to an entire railroad that it's a true proxy for the economy. so tomorrow, what we'll do, even if you don't own a share, it should be extremely important for you to watch. you'll get that idea of how the economy is working from our all-star lineup. the buffett ceo, some of his very favorite, kraft heinz ceo,
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bernardo heath, pampered chef ceo tracy britt cool, how she got her job there, because she wouldn't take no for an answer, and now runs a whole bunch of the berkshire businesses and turning them around. big operations in china, what about the trade issue and long time shareholder of berkshire hathaway mario gabelli. saturday is the big day, that's when they have the big meeting. i will be live tweeting, five hours long. warren buffett and charlie munger on stage eating peanut brittle and cherry coke, pounds of this stuff. what do they spew out? interesting things about the economy and anything they are asked. all questions are open. follow me at liz claman, interviews on facebook live right there from the floor, and monday, the big interview, 3:00 p.m. eastern, warren buffett joins us for an hour-long
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discussion, charlie munger will also join us and we will have a very special surprise guest to join warren buffett. that's 3:00 p.m. eastern right here on the fox business network. and speaking of charlie munger, warren buffett's right-hand man for decades telling us five years ago when bitcoin was in infancy what he really thinks about the cryptocurrency. >> bitcoin, this digital currency that's out there that people say it might be the next big thing, what do you think? >> i think it's rat poison. [laughter] >> put him down as undecided. liz: hey, he calls it rat poison but bitcoin was trading around $115 then. now as you see it's at $9,612 per coin. that's a stunning move. goldman sachs jumping on the cryptotrain announcing plans to open first cryptotrading desk
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but now have a market veteran echoing charlie munger throwing cold water on bitcoin during the milken conference panel, bitcoin is, quote, for suckers. we bring back our floor show trader. teddy are you in the rat poison club or the bitcoin bull club? >> i'm too old. you know, when i think of so many things they found unbelievable in my wall street career they didn't believe in, this is just another item. i have no idea. but too hot to handle as far as i'm concerned. i think i'm in charlie munger's corner. liz: you are in charlie munger's corner. bitcoin is up 375 bucks, it had been up $19,000 a few months ago, so it's certainly off highs. we should compare it to a currency. how about the greenback? are you a greenback or a
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bitcoin guy? >> i'm going trade anything they can get in and out of efficiently. all about controlling risk. it's how you trade. if it's good liquid market, sure. bitcoin had a healthy bounce, closing in on $10,000 once again. it was there just in march, so it's not that long ago, if you look at the technical pattern, it looks similar to the stock market itself when we had the larger double overall bottom. we'll have to wait and see, not so much what you trade, it's how you trade and, yes it has opportunities because it moves. liz: 115 bucks, todd, when i asked charlie munger that back then and he blurted it out. it was such a young concept back then. i'm going to ask him obviously monday and warren too, but they don't invest in anything they don't understand. do you, on the floor of the cme, you can buy futures over there, do you believe in it? >> well, as a product, if you
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look at it in two ways is it synthetic gold or tender for goods and services, it's a substitute gold because there aren't too many places can you say i want to buy a pack of gum, how many bitcoin? that will continue to be that way, and the volatility of bitcoin makes it optimal market opportunity, that is how you make money with volatility. as a trading commodity, it's great. as use of going to the gas station and the grocery store and using it to purchase goods and services, not so great. time will tell how long it will last. liz: and you alan will be the young whippersnappers. you will be with munger on that one. i have press pass for the berkshire hathaway meeting, make sure to join us starting tomorrow. closing bell, six minutes away. up next, the two-headed black swan that could sink your
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portfolio? what's that? our "countdown" closer is going to tell you what it is and how to avoid it? next. i needed legal advice for my shop. that's when i remembered that my ex-ex- ex-boyfriend actually went to law school, so i called him. he didn't call me back! if your ex-ex- ex-boyfriend isn't a lawyer, call legalzoom and we'll connect you with an attorney. legalzoom. where life meets legal.
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♪ liz: we're down everywhere. major indexes red on the screen. so my next guest says there is a two-headed black swan that could drawn your portfolio. let's bring in the host of the bubba show, trader todd horowitz. black swan is if people don't know is unexpected headline risk, right? >> it is liz. nice to be with you. 10-year treasurys hold over 3% stayed there, people will want to take money out. a lot of money in the markets don't want to be there. they will take it out to put it in the 10-year the other side of the coin is the dollar and remains stronger.
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fed and central banks are trying to suppress the dollar because that is artificially keeping rates lower. that would be ugly sign for the markets and would bring us down and tie in a flattening yield curve. liz: rising 10-year yield, coupled with a rising dollar equals two-headed black swan. what do you put in the portfolio to insure you won't get bitten or drawned by that? >> i play couple things. overstock, not only company that sells goods online, but company heavily involved in cryptocurrencies. i am a big believer, crypto will take over and be a real live currency. we're seeing it used with ripple, with the swift system to wire money around the world. the one one i like gilead sciences which is a stock well beaten down on earnings. $65 a share i think it's a great
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dollar play. and chinese dating momo. chinese dating service like eharmony. where there are billions of people how could i go wrong with a dating service. [closing bell rings] liz: todd, thanks. that will do it for the "claman countdown." melissa: dow reversing course, fighting for gains in final moments of trading. still settling out. after being down nearly 400 points. the s&p and nasdaq closing in the red. i'm melissa francis. david: clear markets don't care at what is happening inside the beltway. melissa: we do. >> i'm david asman. glad you could join us. nor on the big market movers. we'll have more on a very busy hour. let's make a deal says the president. his economic team is in china negotiating better trade agreements. we'll take you live to beijing. the the is

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