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tv   Making Money With Charles Payne  FOX Business  November 6, 2019 2:00pm-3:00pm EST

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i say fair and balanced take it apart that way but god forbid. dow is positive. any gain would be a record. markets focused on trade and maintaining bullish backdrop. to charles payne. charles: good afternoon, everyone, i'm charles payne. this is "making money." breaking now what we call consolidation after a big, big gain this is what happens to markets. some is associated with the china trade deal. maybe it is delayed until december. after two straight record closes the bigger question for investors whether they should be chasing the winners, or buying the losers. you have to be one of both if you want to be part of a rally. elizabeth warren slamming back at jamie dimon. after the jpmorgan ceo says the democratic front runner is vilifying successful people. the trump administration is working to curb the vaping crisis that juul ignored
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evidence that teens could get hooked on the product. what the white house is doing to stop the opioid epidemic. all that and more on making money. ♪. charles: when these markets make all-time highs, we get the same call, consolidation. the what's spin a little bit more. investors start to stake out the next move. you add to the backdrop of china trade, we're coming out of earnings season. in fact a report on china trade that trump and xi, they will meet to sign phase one. it might be delayed until december. but the question now is, should we be chasing the winners or should you look at losers for opportunity? i want to bring in crescent founding partner, chief investment officer jack ablin, kaltbaum capital management president and fox news contributor gary kaltbaum. let's start with the idea here if you missed this rally, you want to be a part of it, what do you do?
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do you chase winners or buy the losers? again losers are losers for a reason. >> charles, the market is breaking out of a 18 to 24 month range and the good news everything has changed. value, things that were dead and comatose for a long while like financials are now just starting up. i think they have more to go as our central bank jay powell decided to do the bernanke dance and do quantitative easing with unemployment at 3 1/2% and markets near the highs. i go to the value area. growth is pretty much dead right now. my whole growth sheet is down 15 to 25%. shows no ability to really rally. go to the value areas. we'll see how long it lasts. charles: jack, the names, particularly household names beaten down they always look attractive. earnings season is always remind you can be too early. 95% of my biggest losers happen
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when i try to pick bottoms, and i think value is there. >> that's it. i think, you know, you have cheap sectors as you mentioned. cheap perhaps for a reason. we think that, the energy sector is probably cheap, probably doesn't really deserve to be as cheap as it is. i do think there are opportunity in master limited partnership, the c-corps. the other thing i want to look at perhaps are starting to look at marriage emerging market consumers. they have been left for dead a long time. particularly with the china trade deal and everything else and they do have an emerging consumer class that will demand higher and higher value items, not necessarily beneficiary for, you know, the u.s.-based products but certainly global. charles: speaking of the china trade situation, gary, a report out earlier today of a possible delay. >> another delay, charles? charles: another delay.
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>> yea. charles: the thing is, there was a time when that kind of a report would have knocked the stuffing out of the market. i think at this point it feels like the market believes something is going to happen. it only stands to reason finding a new spot, this short time period and hammering out the last parts of a deal, only natural parts of a negotiation. >> you're exactly right. i was thinking exact same thing when news came out. will we drop 300? >> the dow is basically plat at this point in time. the market kind of knows a deal is coming. i have to go to the fact that the market is in bull mode here with the wind at back, from the fed and you know, earnings not so great. just markets deciding there is not a lot of sellers. there is a ton of cash on the sidelines here. so, but keep your eyes wide open. markets are never easy. every time you think you got it made they're out to get you.
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i like the action off supposed bad news but leave no doubt, if it starts going into january and february, we may have some issues again. charles: but i think, jack, for now a lot of folks focused on the fabled year-end rally. maybe it has begun. if it has begun you have to be a part of it i think, particularly the professionals who are sitting on all that cash. >> i think certainly is a need to participate especially if you're on short-term shot clock. i think for longer-term investors however, when you see a market break away from moribund economic conditions and kind of flat earnings conditions, it doesn't seem like a recipe for making a lot of money over a three or five-year period. so from that perspective would i say, back to our first point, look for cheaper stuff. look for something that perhaps has a catalyst an combined with some patience could pay off higher dividend for coming years, rather than to try to you
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know -- charles: did i hear you say patience? i need you guys to be patient for me a moment, jack and gary. stay right there. i want to go down to the floor of the uber, hitting all time lows, unicorn ipos continue to struggle. gerri willis, what is the talk on the floor? >> you see what is happening to the share price on the screen. what tells the tale, average volume, 14 million shares. today 109 million shares of uber changed hands. post-ipo restrictions on selling, expiring. they're out the window. a lot of people are selling shares in the stock. they're on track for fifth straight day of declines, well below the ipo price obviously. as we continue to watch the stock. i want to talk about hp and xerox. hp shares are soaring here, doing very well indeed.
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you will still look at uber there, since the ipo, down 14.6%. hp, xerox, a merger happening there. xerox would acquire hp, that is so confounding here. xerox is a third the size of hp. like the mouse eating the cat, instead of the cat eating the mouse, if you know what i mean. people are watching this very closely, charlie gasparino, our own charlie gasparino saying no formal offer has been made. carl icahn is said to push the deal. he owns a 10.6% stake in xerox. back to you. charles: gerri, thank you. i want to bring back jack ablin and gary kaltbaum. let's start with the uber situation. the lock-up thing is interesting folks. we should understand the company raised money first time in 2009. raised $200,000 from their founder. recently they raised 600 million. the valuation when they raised
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600 million was $76 billion. today the stock is trading at 46 billion-dollar valuation. even though a billion shares can come to market, unlikely everybody who bought early will be a seller because a lot of them are actually losing money, aren't they? >> yeah. i think a lot of it is insiders. there are programs out there where insiders can sell their shares, restricted shares to providers. then use those shares as collateral. of course once the shares become tradeable are exercised. we're seeing a lot of that today. the other really sensibility of the pub markets versus the private markets. we saw that with amazon. they were able to successfully move from private to public and keep that private market sensibility. however, tesla, with elon musk, tried to keep that private market sensibility. just got caught up in all of this public markets and you know, have it now and public
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disclosures. so i think it's a very different culture. of course we're seeing a lot of that, especially the larger companies, we're seeing that clash as they come public. charles: gary, i've been saying shame on silicon valley, shame on wall street. you take companies in the private market. raise them to 70 billion evaluation. then you foist them on unsuspecting public. thinking everyone will be happy to be a shareholder. >> you know i love the word foist. look, every few years wall street gets a little full of themselves and they put a bunch of money-losing big-name ipos at just ridiculous valuations or at least try to. wework is the culmination of all this. thank the lord it did not come public. you have to know we're in a bear market for money-losing ipos. stay out of the way right now.
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there is still more to go on the downside. for your viewers, the most important part of the ipos, in 10 years, biggest winners of next 10 years looking back will be some of these names with great products, great services and tremendous demand. charles: right. >> we can go back 50, 40, 30, 20 years, talk about aol, home depot, amgen, amazon all the other names. i keep one whole screen of the ipos of last couple years just in case something shows up. right now the the definitive bear market. valuation became a joke. charles: they started out doing textbooks and do other things. ipo november 12th 2013. 12.50al. by march of 2016 it was $4 stock. now it is $45 a share. to your point, the worst ipos
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can come back. you guys talk about wall street and i've been hitting wall street pretty hard. there is a report in "washington post" insiders selling after the announce the stock buy-backs, knowing it sends the stock higher. big news on walgreens perhaps going private. a lot of people bought options before the news. a week ago, tiffany shares exploded to the upside. it had been moving long before that on higher volume. it is obvious this insider buying is back in a big way on wall street and that is not fair to individual investors. who should fix that? >> we have to keep in mind that buybacks until 1982 were illegal. so that, you know, buybacks really haven't been part of the wall street landscape for very long and i think while insiders if they sell have to be on a regimented selling program, there is no reason why they can't make announcement right before the selling program has
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to take place. so i do think this certainly bears further watching from the regulators just to see if indeciders are taking advantage of shareholders. >> charles, there is legal insiding trading and then there is illegal insider trading. when i see a company bought out the day before there is ridiculous volume before the buyout, i have one little line i say on my radio show, somebody is going to jail. so they always get caught because regulators are looking for that high volume or big options beforehand. i do believe we are somewhat of a level playing field. i have no problem with people doing legal insider trading. it is the illegal ones. jail time usually fixes that up. charles: i do, always had a problem with the buybacks being announced. then they sell after. they didn't sell the day before but the day after it pops they sell. there has to be more things done on the legal side that makes this market more attractive to individuals. jack, gary, you guys are
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fantastic. thank you both very much. make sure to catch gary on "bulls & bears" tonight, 5:00 p.m. eastern time right here on fox business. 2019 the election is being touted as referendum on president trump's re-election chances so how did the elections work out? kamala harris i will share how she feels about her chances. harris's political feud with elizabeth warren as a bank ceo calls her out for vilifying success. we have got the debate next. ♪.
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charles: the dissecting game has begun with last night's election results. the experts are looking for clues ahead of 2020. suburban voters in virginia and kentucky both seem to side with democrats and that is warning for republicans. the democrats that won didn't do so on platform many presidential candidates are using like "medicare for all." what exactly did we learn last night? liberal commentator danielle mcglocklin and fox news contributor deneen borelli. some say president trump went to bat in kentucky he lost. >> first of all matt bevin was not all that popular. not only that he took on teachers unions. some of those issues the voters did not appreciate. but with the president being there he did bump him up a bit. he almost lost his primary, first of all, matt bevin. republicans won 12 out of 13 statewide elections. personally i think it was a good
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night for republicans. >> not only did he take on teachers unions, the way he did it, very vitriolic manner. many feel he was the least popular governor in the country. do you take that as a local victory considering other races, there were six big-time races, others were won by republicans by double digits. can you glean something from the national election. >> not clear that you can. i agree with deneen it was good for republicans of bevin approval rating was 34%. he was second least favorable governor in the united states. he said terrible things about teachers and teacher unions. it was referendum on his roll back of medicaid or or refusal to extend medicaid part of obamacare. in mississippi voters roundly rejected idea you expand medicaid. in kentucky, governor-elect that they should expand medicaid. charles: he did not on
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impeachment. >> no he did not. one of the interesting issues is restoring voting right to felons who served their time. he didn't really talk about trump. he didn't talk about impeachment. bevin was highly unpopular. i don't think democrats should take too much from this. charles: want to ask you what was happening within the democratic party. the level of vitriol is starting to climb as candidates start to fade. biden has written an op-ed highly critical of elizabeth warren. he doesn't mention her by name. but obviously a shot at her. by the same token, her policies, particularly for "medicare for all" is direct shot at obamacare. it didn't work. it was written by health care insurers, they shouldn't be part of the process. >> you should expect that health care is huge issue for democrats in 2018. health care will be on the ballot for 20206789 they're jostling for position. biden should defend obamacare one of the signatures of his administration and "medicare for all" is not one of his signatures. >> elizabeth warren has a war on the wealthy.
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she want to tax the wealthy. she want to tax the corporations to pay for nonsense she is promoting "medicare for all." talking trillions of dollars. it is impossible it would work first of all but it is more big government, charles. the more government is big, less liberty and freedom for americans. elizabeth warren is pushing big government policies along with other progressive democrats. it is not food. charles: of course, folks, if you follow me on twitter, you should, @cvpayne, you saw i was on the same flight with kamala harris last night. we had a good chat. she still believes she can win. told me about the recent come from behind victory upset in iowa. danielle, do you believe her? do you think maybe there is still a chance for those outside of this so-called top three to win this thing? >> i think it is still a wide-open race. we have seen obviously the top three jostle for position. buttigieg is rising. kamala harris is only around 3%. i love that you talked to her on the plane. i love that you asked her to come on the show.
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frankly -- charles: i'm not that good with the selfie thing yet. you know what? it was amazing conversation, very candid. very honest. it changed when you come on my show. when she came on the plane, looked at me. she was like hey, what's up. we talked afterward. it was a great conversation until i mention, come on my show. yeah, fox business. >> who are you again? >> that that is huge mistake. i want to be everywhere. i want to talk to everyone. i want to reach everyone. charles: i can say this much i feel the grind. this thing is no joke. president trump said it last week at rally when beto dropped out it is a lot harder than it looks. it's a lot harder. thank you both very much. a new report finds e-cigarette company juul ignored early signs that kids were getting hooked on their products. signs that the administration is
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>> we have now five million kids who have admitted who are self-reported to be using e-cigarettes, excuse me, e-cigarettes. this is burgeoning health crisis. charles: white house getting ready to crack down on e-cigarettes, banning a sale of flavored products among surging use among teens. e-cigarette company juul reportedly ignored early signs that kids were getting hooked on their products. how will the ban protect kids and help adults that want to get off cigarettes? for that i want to welcome white house drug czar, jim carol. >> hello charles. i don't know why everyone don't want to be on the show. i'm glad to be with you.
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charles: appreciate it, jim. this is mammoth proportions crosses every line, political, racial, economic. how are you dealing with this, particularly now that there is new information that perhaps juul knew that kids were getting addicted to their product? >> it is very concerning. our goal at the white house is saving american lives that is the priority of the president. that is the priority of the first lady. and thankfully it's a bipartisan issue on capitol hill. i just finished a briefing up on the hill with various members. senator kennedy from louisiana, his parting shot was just that, save lives. we're doing that, getting more people into treatment than ever before but we also have to make sure that kids aren't going down this path to begin with. that is why it is so important to be able to spread the message about the dangers of fruit flavored, kid flavored, e-cigarettes and these cartridges. we have to stop. it's a trend in the wrong direction. charles: sometimes it reminds me a little bit of the battle
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against fentanyl and some of these other painkillers in a sense there are legitimate uses, right? there are americans out there who are in extraordinary pain. they need opioids for that. by the same token, a lot of adults have told me that they have gotten off of smoking through these products. is there a fine line? how do you navigate this fine line? >> well, we have to err on the side of protecting people. it is, we know these e-cigarettes can be a great off-ramp for people trying to quit smoking. what we want to do, make sure it is not an on ramp for kids to go down the path of becoming addicted to nicotine. we don't want kids to go down the path of using alcohol. obviously using drugs like opioids and fentanyl, methaphetamine is surging. we have to keep that in check. we have to encourage kids not to go down this path. charles: 28% of high schoolers, 11% of middle schoolers. on opioid front, what is the news there. >> we have a great news at the
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white house we launched a new website to help get treatment they need. there are 13,000 state licensed facilities. we're adding more every day. the ability to go on the website,, plug in the zip code. it is completely anonymous. they can use preferred language. want medication to help them through it. if they have insurance, they don't. drop down with treatment centers in the area. call directly. get the help they need. this is how we're doing it. thanks for advertising fine charles: find i will treat it out. >> have a great day. charles: more trouble for facebook. california's governor saying the social network is not complying with subpoenas. they are dragging their foot over privacy practices. ag is asking san francisco superior court to force facebook
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to comply. presidential hopeful elizabeth warren taking to twitter after a top banking ceo calls her out for vilifying successful people. reagan economist art laffer weighs in on that. what he is thinking of fed fund titan ray dalio, trickle down economics is not working. the author himself. we'll be right back. ♪.
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charles: breaking right now the
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white house responding to reports that phase one of the china trade agreement won't be signed until next month at the earliest. the administration saying quote, negotiations are continuing. progress is being made on the text of the phase one agreement. we'll let you know when we have announcement on signing location. sounds reasonable. elizabeth warren war on billionaires getting pushback from one of the biggest names in finance. jpmorgan ceo, jamie dimon says she uses harsh words, some say vilify successful people. i don't like vilifying anybody. i think we should applaud successful people. warren firing back with a tweet. it is simple. jamie dimon and his buddies are successful in part because of workforce and public services we all pay for. it is only fair that he and his billionaire friends chip in, to make sure everybody else has a chance to succeed. former reagan economist art laffer. this battle is brewing. it is building up big time. i would assume you would think elizabeth warren gets it wrong
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but where does she get it wrong here? >> we have two systems in this country. we have a political system that starts with elections and goes through politicians and bureaucrats all of that. then we have an economic system, charles, that runs by people running large corporations like rupert murdoch and jamie dimon and like kuperman and a lot of these other people who really know how to run businesses, know how to make products efficiently, make customers want them. using resources well. i really don't want to let nancy pelosi run berkshire hathaway. thank you. i think i would like warren buffett to run it. charles: she says they're great at that thing. they're absolutely phenomenal at that but money these companies make, maybe it could be distributed in more balanced way. the ceo doesn't have to make 400, 500, 600 times the worker. it is resonating on main street. what do you say to someone who says maybe warren has a point? >> you know, maybe she does have a point.
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if you read this zuckman book, you sankey what they're saying. they say don't interfere with business and business response to incentives. you want to make sure these people don't lose it. once you allow these people to take over the economics of the world, you will lose all the benefits of capitalism as we have it. you will have one tier system where politicians doing it, running businesses. jeff bezos, what is he worth, 80 billion? you know that is not his money. that is not what he will be using. he can't consume that much anywhere. 50 years from now, no one even remembers his name. what he does do, really runs a company, amazon and do it well. leave him alone. let him run it. pay his taxes voluntarily. charles: right. >> the one i did with jerry brown, get guys pay taxes lower rates, broad the base. don't use police to get them. use voluntary system. they're part of the society.
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they're wonderful people. we should be pleased with them, not hostile to them. if you lower rates they will pay their taxes fair and square, we'll be right on the operation of the civil. charles: another very wealthy man, ray dalio has gotten into the conversation and one of the things he says because the trickle down process of having money at the top trickles down to workers and others improving earnings and creditworthiness is not working. system of making capitalism working for most people is broken. that is why i believe the world is approaching a big paradigm shift. this ray dalio warning that big business has to share more of the wealth? >> you know, sorry. charles: go, art. go ahead. >> sorry, but ray dalio, what he is doing, this country is doing beautifully. it is doing beautifully for poor, minorities, disenfranchised. it has been doing well for generations. i don't know why you want to mess this system up, do something different about it. it is working very, very well.
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ray dalio feels a little guilty or something, i don't know what he feels. we should share more. if he wants to give money away, raise wages of employees, god bless him. let him do that. i want him to run businesses, run efficiently. make great products at low cost. not the have nancy pelosi run microsoft. charles: i love the angle you took on this art. i was not necessarily prepared for it. i think it is spot on. the idea if you think this is broken, let politicians run the companies, usurp them in any way, probably makes things a lot worse. appreciate your wisdom. >> it is crazy. thank you, charles. charles: leave it on that note, it is crazy. see you soon. >> thank you, charles. charles: airbnb facing a major setback in new jersey despite spending $4 million. is this a war on the gig economy? many manufacturers are struggling in the rust belt that
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plans change every year. use the new plan finder at . comparing plans really pays. look how much we can save. ♪. charles: voters in jersey city, new jersey, dealing a major blow to airbnb. approving a measure to regulate short term rentals. as the company is expected to go public early next year. jackie deangelis is in jersey city with more. jackie? reporter: good afternoon, to you, charles. it was historic vote in jersey city. i will get to the reasons why. what we're looking at residents comparing airbnb to the hotel industry. they're saying it is like what uber did to the taxi industry, disrupting everything. there are residents here saying having airbnb properties and facilities is taking tourists that come to the area, out of hotels, putting them into the residential areas. it could potentially disrupt
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things. it is driving up property prices because of supply and demand issues. really not enough supply out there. airbnb will say homeowners will make extra income from this. this is very positive. it responded to the vote yesterday to implement those restrictions saying quote, cities from buffalo to san francisco and boston to seattle managed to pass comprehensive short-term rental regulations without punishing tenants or creating red tape and onerous registration systems. unfortunate to see the hotel-backed campaign that moves jersey city in a different direction. this comes at critical time for airbnb ahead of their ipo. the negative attention is not positive when you try to woo investors. airbnb spent more than four million dollars trying to get its message out there to sort of shifts the votes with the vote that happened in jersey city. hotels and unions.
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they spent about a million. it was the most expensive local referendum in new jersey history. at a presser earlier today the city councilman was proud of the voters sending a message to the a big corporation that money cannot buy elections but of course there is a second component to this now that the notion has been passed. he also said enforcement is going to be key. the city will have to hire a lot more people, employees to make sure that airbnb restrictions are being implemented and short-term rentals in general. charles, last thing i have to say about this, it could have national implications. jersey city could be setting a model for other cities. new york city is airbnb's largest market. could you imagine if there was an ordinance like this there? charles: not hard to imagine that. jackie, thank you very much. this latest shot at airbnb a string of legislative attacks on the so-called gig economy. we're talking uber and other
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names. in fact in september california lawmakers passed a bill establishing gig workers as employees, not contractors. what risks are we seeing from the regulations, not just on the companies but the overall economy? would like to bring in independent women foreign policy directive. patrice, california had the ab-5 law, ostensibly to go after uber and lyft, but hit every industry with people who are independent contractors. they say it is hurting the economy already. >> imagine you suddenly are no longer your own business, your own enterprise, using a platform to find customers. you belong as an employee to this company. so i think those who fought for reclassification of gig economy workers thought that they were going to be able to deliver new benefits to those workers but they're actually eroding their flexibility. charles, a lot of reasons people
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use tech platforms to sell their services on taskrabbit or drive people around in uber, even to ren homes on airbnb, they want to generate that extra income but do so on their own calendar time. soccer moms, between, shuttling people around between, their kids going to school and retirees, who want the extra income but want to do it on their clock. charles: patrice, i remember candidate hillary clinton came out against the gig economy. i found it curious. more and more i learned they were having trouble unionizing these folks. instead of trying to unionize them, they would stick with the industries, whether hotel workers, whether taxicab unions in new york city and other places. to keep this old business model rigidly intact. so, it is unfortunate, it feels like politics are now getting into a place where regular folks have a good shot at making extra money. >> let's take this jersey city
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airbnb fight for example. the average jersey city renter on airbnb homeowner is pulling in $2900 a month in extra income. that is pretty good. for airbnb. >> 7900 on average every year what they bring in aside income. when you start to regulate, when you start to increase restrictions on, whether renters can use their, put their places out for rent or homeowners, suddenly you're zapping entire income source families need. property values are high in a lot of these areas. why not be able to rent out your home going away on vacation to get extra income? charles: they say don't knock the hustle but apparently politicians are not listening. patrice, appreciate it. >> thank you, charles. charles: we're going on the ground of racine, wisconsin, with the factory miracle is
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fading a little bit. what does it mean for the 2020 election? stay with us to find out. ♪. imagine a disease is caused by too much of a bad protein, but a company develops a way to actually attack it. what drew me to capital allocation in health sciences was the potential to help many people through investments that help fund medical innovation. my team and i often choose to invest at the very early stages of human trials. investing lets me use everything i've learned as a doctor to help make a positive impact. so that's why i go beyond the numbers.
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charles: fine art gallery master works is giving art enthusiasts an investors own a piece of history through a new investing platform. liz claman will be joined by a special guest with a preview. liz. >> this is classic investment in you, segment, charles, we found absolutely fascinating. the art world, blue chip, big names, has outperformed the stock market certainly last year. look at this comparison. the s&p fell 5% last year but
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the art world jumped, the big blue chip ones 10.6%. you're thinking i can't afford an monet or andy warhol. they allow you to participate in upside move by shelling shares in individual authentic paintings. this is one of the "mona lisa," by bank, the cool artist out of london. this sells $20 per share. you buy into a share. when the actual piece sells to a collect tore, you get hopefully, if it sells more than currently valued at the ipo, you get the upside of that, or at least some of that. they have monets. they have warhols. these paintings go for millions and millions of dollars. we'll show you how you buy in, buy a single or heck how many shares you think you can afford. scott lynn is the masterworks founder. we'll show you in studio the
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banksy or the monet. i'm leak dogs playing poker. charles: either way it will be exciting. i love the art stuff. make sure you tune into the "the claman countdown." it is at top of the hour here on fox business. i said several times on this show the manufacturing miracle, you know, it has done extraordinarily well. it has to keep doing well in states like wisconsin which we know president trump won in the last election. connell mcshane is there. he is in racine, wisconsin. some people are saying that this thing peeked a little bit and starting to fade, connell? >> we heard that. three states in three days in michigan yesterday. peak, starting to slow down. put it in perspective. manufacturing is employment. unemployment rate in racine county, it is very low, 3.8%. it is up a little from 3% last year. we're checking in with business
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leaders in the areas where we stop to get a sense out things are going. the owner of this brewery where we broadcast from wisconsin gave her thoughts moments ago. here is what she said. >> personally we've been doing very well. we've always been well-received by their community. there are definitely a lot of people here that struggle and find it hard to make ends meet. downtown racine is seeing a big boom. there are a lot of new businesses opening. i think we're taking some steps in the right direction. >> it is a little bit of a mix, charles. we'll watch it next year. you know how close wisconsin in the last election. everything matters in the next one. we'll talk about it next hour "after the bell." former governor scott walker, in 4:00 p.m. hour i should say is our guest. back to you. charles: make sure you watch "after the bell." today at 4:00 p.m. eastern right here on the fox business network. uber in the meantime is tanking as we head into the final hour of trading. coming up one of our top market
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watchers said he just bought shares in the stock. find out why. if you should follow his lead, next. most people think of verizon as a reliable phone company. (woman) but to businesses, we're a reliable partner. we keep companies ready for what's next. (man) we weave security into their business. virtualize their operations. (woman) and build ai customer experiences. we also keep them ready for the next big opportunity. like 5g. almost all the fortune 500 partner with us. (woman) when it comes to digital transformation... verizon keeps business ready. ♪
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charles: taking a look at the market in final hour of trading, in the meantime several companies reporting after the bell today including streaming service roku shares up 40 since august. a lot of people excited about that. mike murphy, let me start with roku, we got out, i'm afraid on how it may react to earnings because i think it's so volatile, what do you make of it? mike: anybody watching your show, if it's going to keep running to astronomical levels, maybe they will miss out on it.
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but with all the competition in streams it's more of a trade than long-term investment. a guest, beth, listen to her target, watch. >> it's going to keep going up into the right, again, pullbacks, but very promising area because of how big the opportunity of connect tv, supply and demand bottleneck, you can go well over 250 on roku. charles: $250 a share, another 110 points here. that sounds really enticing. mike: people are raising expectations, a lot expected from it, any sort of takeup on the conference call would lead to selloff, i wouldn't jump in front of earnings. charles: you bought uber today.
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mike: yes. charles: lockup, no one knows when they'll make a profit including the company itself, why buy it today? >> bought it today, i bought some yesterday and own some in mid-30's, here is the thing, 301 million active users, they will monetize that user base in my opinion, that's why i put my money where my mouth is and bought it, uber eats. charles: there's talk of spinning some of that stuff off. >> what they need to do is focus on the loss. charles: costs are too high, if they can get rid of human beings, they can make a profit. mike: i can say that's false.
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charles: how do you like earning season? mike: winners are getting rewarded. not everything up and not everything down. the ones performing everything has been higher. charles: mike, you have been spot on, we are down 4 points as i head it over to liz. liz: liz we were up 33. charles: sell everything. [laughter] liz: red alert is to stay with us, stock is spiking right now on the news, we will tell you what's going on, the surprise headline reviewing delay in china trade deal, trump administration source says that phase one of the u.s.-china deal won't be this month, now pushed till december and that news putting the record rally in jeopardy, the bottom kind of falling out of dow jones industrial exactly as the headlines hit the wire, that was 11:44 a.m. eastern time and look


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