didn't look like they would get this done before the end of the year. now signs that might happen after all. i will talk to former house ways and means committee boss kevin brady on that. he says that is crucial, crucial, crucial, that gets done. to charles payne right now. charles: thanks a lot, neil. can't wait for that. good afternoon, everyone, i'm charles payne this is "making money." what has been missing this year from this year's record market run? merger mania. that may be about to change. a potential blockbuster deal between charles schwab and td ameritrade sent shares of both companies soaring but they're not the only stocks on the move. i will ask my guests what takeovers could be in the pipeline. wealth taking the stage at last night's democratic debate. we'll look at winners and losers. how the swamp strikes again. how republicans sided with maxine waters on the pump to

corporate welfare, spending billions of dollars to guarranty the richest companies in the world but where is your part? all that and much more on "making money". ♪. charles: stock of the day, folks charles schwab, td ameritrade jumping on news, fox news learn the two plan to merge. jackie deangelis on the potential take over. >> good afternoon, charles. that is a lot of green on the screen. i realize what i'm wearing here but our colleague maria bartiromo did break this news this morning. i'm waiting for companies to confirm it. charles schwab is expected to buy td ameritrade for $26 billion. combine the companies together, the assets are worth five trillion. which puts the combined company in a different league in terms of the competition. ceo walter bettinger will run

the new companies. the theme of the industry is consoledation. the current environment has been pretty tricky for these companies. commissions eliminated. schwab was one of the first companies to do that in october. flipping tables and disrupting things. people were worried that schwab would see a reduction in revenues once commissions went away. schwab said new client accounts went up 31% in october. it somehow managed to balance the business. you mentioned as we opened, others looking to see where we see more mergers in this space. e-trade, interactive brokers, those are names being tossed around, certainly ones to watch. back to you, charles. charles: jackie, thank you very much the merger news this year has seen a dearth of deals. is that about to change? david dietze, and heritage capital president paul schatz. paul, so far this year we had 1.5 trillion in deals in

north america. sounds like a lot but it is nothing. last year two trillion. 1.9 trillion going back. even further than that a lot more. shocking we're at record highs. you would expect record deals as well? >> you would. what are people doing? they're buying back the stock instead. that is what is in vogue right now. before the bull market end there should be some kind of a merger mania, take over mania, whether gets saw in the '80s where it was outlandishly crazy. yet to be seen. i will give you a couple. gw pharma, people think it's a cannabis stock. it really isn't. i think that one, at least double from here is one. the -- charles: do you think a regular biotech company would make a bid for them to have access to that sort of cannabis -- >> biotech company, or more than likely a big health care company for sure. i think that is, easy takeover. charles: all the other ones. i want to get david. i want to find out are you surprised at death of major

deals? is it about buying back your own stock? could we see this all change? >> certainly four-month ago we were talking being on edge of recession, yield curve inversion, the fed had to start cutting rates. that put a pause in a lot of company as plans to get bigger. we gotten past the soft patch. fed is on pause because of a better economy. stock market back to all-time highs. i think we could play catch-up for next six months. i agree with you for m&a activity. my sector is electronic component and distributors. we've already seen strategic buyers. we've seen private equity jump into the game. apollo, clayton have bought two of those companies, astor international. two i would highlight this afternoon, aero international and avnet. they have lagged the market. charles: hate to say it two very old boring names. it is interesting because if you look at td ameritrade and

charles schwab, this year coming into today's session, schwab was up less than 8%. ameritrade was down 16%. over last three years charles schwab is up 14 1/2%. td ameritrade is up 1%. viewers watching the show, i want to be in the next big takeover, that is big money overnight. is that one of the things you're looking for, like stocks that lagged or does that matter? >> for me it doesn't matter. i'm looking where sectors have been dormant forever. schwab and td, regional banks, except for the suntrust merger, they have been dead for years and years and years. i mean, that sector is screaming for goldman, morgan and bank of america to get involved, get some act at this time going. that is where you could see a real boom at the market peek somewhere down the road. charles: here is a a theory i have i like deals almost all cash. when a company is trading all-time high but still using

cash, what they tell shareholders we think our stock is going even higher and it is much more valuable than cash. i love, for instance i would buy charles schwab because it is mostly a cash deal. they are suggesting we would rather spend cash than our stock at this level. >> sends such a strong statement. when they're offering the stock you don't know quite what the stock will be worth by the time the deal closes. a much tougher decision to make on the part of the target. you set a cash amount, you're saying exactly what you will do. it is much easier thing for the board to agree on to get the deal done. >> on takeovers, the invest in the short term. gets all excited. my stock is up 2, 3, 4, 5, 20, 30% whatever the number is but in the long term a lot of times the company would be better staying off by themselves going solo. it is short-term gain but they forget about the long-term gain. >> we love the pops. >> waking up, see your company taken over. charles: number one percentage

gainer feels so good. what feels so kickky the conversation going on what the heck is going on with trade. china trade official, from the chinese ministry said that we're negotiating. and we could have fights and negotiate at the same time. like stories come out, like they're at each other's throats. of course that is what happens in negotiations! here is my bet. this is what i'm saying this is my theory i think president trump is going to push off these december 15th tariffs no matter what, with or without a deal. if that happens what does it mean for the market? >> it means, it is like the market on fire i think. quite frankly trade is what makes the world go round. taxes are completely antithetical to growing economy. tariffs are a tax on trade. if he pushes that off, i think market much higher. >> we have breaking news. president trump is weighing new trade investigations with respect to the eu. we'll get more deis tails on

that. coming into the week a lot of speculation trump would push off potential tariffs on european autos. we heard, eu guy -- >> draghi? charles: no the other guy, junk juncker. that is not impacting the market. we're up 12 points since we started our conversation. tariffs are out there, before we hit the eu thing, china is much more important to the market right now. if president trump pushes the tariffs off, what does it mean for the market? >> i think every day, week, month, quarter, the market is getting more and more comfortable with the tariff tantrum. the tiff going back and forth. things are going back and forth. all-time highs, we're pricing in a lot of good things down the pike. market is pricing part of this happening or not happening on december 15th. market is pricing in we won't have all out trade war with the eu if the tariff thing falls

apart, clearly we have problem. good news on the trade front, get a half, full percent kick that day. charles: thank you both very much. we should point out there are $360 billion in tariffs already in place. our economy and our stock market has done okay. thank you both very much. happy thanksgiving. >> you too. charles: united auto workers president gary jones is stepping down as a allegations in a lawsuit. they're accusing them of bribing union officials to get more favorite contract terms from the uaw. jeff flock is following all of this corruption. jeff, i got to tell you, another chapter in a really tough, tough history here. reporter: oh, boy. this is getting crazier by the day, charles. we already knew about the corruption at the union but it is now led to gary jones removal as the president. i say removal, he did resign but the board was set to remove him as president of the union for embezzling member dues, spending

lavish sums on cigars and fancy hotels and other things he didn't even account for and you know, he has not been criminally charged yet, and neither has his predecessor, dennis williams, the former president of the uaw. but he has also been implicated in this. he also mentioned in this lawsuit that you mentioned that gm has filed against fca, that is fiat chrysler. they say, take a look at the terms of the lawsuit or what they're alleging. they allege that sergio marchionne, the successful fca ceo, authorized bribes in a multiyear pattern of corruption to essentially get a better deal for fca and eventually take over gm! kind of crazy. gm says it suffered substantial damages because the fca workers, you know, got less money. the union leaders agreed to give them less money and gm got the worse of the deal. fca for its part says that is

bunch ba baloney. here is how they put it from fca current ceo mike manley to his workers. he said we're astonished by this filing both its content and its filing. we can only conclude this was tended to disrupt the merger with the peugeot folks psa. we will vigorously defend this meritless lawsuit. when you start blaming the dead guy, that is to say sergio marchionne, i don't know. certainly some lawyers will make some money on this deal. not a pretty deal. charles: not pretty. but also another big loser would have to be the fiat chrysler workers. the unions are supposed to be trying to get them the best deal. you know, if they did indeed line their pockets at expense of their workers, it could be the worst thing for the union movement in a long time, a long time. reporter: people are already mad at them. if this comes to fruition, you could get, you think membership is down now? get a lot worse. charles: jeff, thank you very

much, my friend. thankthank you. reporter: good to see you, charles. charles: president trump tweeting recently bringing the word nationalism back into the mainstream. great job, rich lowery important book. he is here. why nationalism should not be a dirty word. most of the democrat took the stage last night and duked it out. who won the messaging war? didn't seem like it persuaded mike bloomberg just moments ago he made a major move. we'll tell you about it when we come back. 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.

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charles: president trump's presidency has been nationalism, advocating for the united states to be the best. "national review" editor rich lowery says nationalism has become a dirty word and it shouldn't be. america is not just a nation but an idea. the idea is to protect its interests, borders and identity. the author of the case for nationalism, rich lowery. it has been too long. >> thanks for having me. charles: you and i did a lot of shows during the election, leading up to the election, it felt like initially there was different sense what this meant. it felt like you were on the other side of this argument, nationalism was a bad thing, dangerous for the country, dangerous for the rest of the world. where are you now? what's changed? >> yeah. so the book occasioned by trumps inaugural address, got me interested in the topic, thinking about it seriously. i sort of accepted the clicheed version of it, something nasty, wrong, inherently aggressive. as i got into the book, it is very old, natural, powerful phenomenon. people have not been able to

wipe it out even though ideologies totalitarianism have attempted to wipe it out. charles: there is distinction between patriotism, pro, nationalism, which is anti-other countries. that is not the read no. >> that interpretation doesn't make any sense. it comes from the word patri, loyalty to the father land and your own. distinct people bounded together by common culture, common history, should govern its distinct territory. that is what it is. it can spill over into something aggressive and become imperialistic. charles: can it spill over or be hijacked? you know what i mean. people used the bible, to you know, as an excuse to do some really ugly things in this world, so for the, so on but you're saying in its real natural form, that it's a good thing? >> it its true form. president trump, some of the u.n. addresses says we're a

distinct and great people. everyone else around the world they have their own distinct cultures. that is a wonderful thing. we'll respect yours. you respect ours. that is true nationalism. his warsaw speech, the best speech of his presidency, the pols, worst part of europe, trampled by occupying armies, trying to partition them, you couldn't do away with polish. because there is something polish about the pols. true to their tradition and and culture and mores. that applies to us today. charles: who wants to change that? is it globalists, one world folks, open border folks? is who pushing to change this? who would see something wrong with americans proud of their own uniqueness? >> this would be common sense sentiment, right? cosmopolitan attitude characterize a lot of elite in this country, elements of

government, they have perspective so-called citizen of the world. there is not truly any such thing. if you get in a jam anywhere around the world, get kidnapped, the world doesn't come save you, your country saves you. your corptry inherently cares more about you than anyone else does there is no universal military or universal language. charles: it is interesting. at one point steve bannon was calling it economic nationalism. felt like that was a distinction to mitigate the blowback. you say forget about it. it is okay. be proud of nationalism, that is who we are? >> american nationalism, small d democratic nationalism. is key part of the country. it is wrong for democrats to their back on it and republicans to lose it prueher too trump and channel it in the rate way for our future. charles: congratulations on the book. >> thanks so much. >> last night's democratic debate failed to weed out the very crowded field. who won the messaging war with

voters and is it the moderate side, or the far left. we'll ask an expert on that that. that. facebook to crack under pressure from it rivals on political ads. we'll give you details.

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charles: well the fifth democratic debate taking more of a civil tone with much of the debate focused on beating president trump but that didn't stop them from taking some potshots at each other so who won the messaging game? i will ask beverly hallberg. overall, beverly, the biggest winners and biggest losers last night. >> i don't think there was a clear winner because nobody stood out. joe biden had a rough not. even before the debate happened he sent out to his supporters, did i make you proud, how did i

do? of course he hadn't even taken the debate stage. he had poor words choices during the debates, domestic violence, how we need to fight against it, saying we need to keep punching it, punching it. joe biden is a gaffe machine. he does well at polls i will make sure -- charles: i will share that with the audience. i don't think everyone was watching the debate. here is what beverly is talking about. >> no man has the rise to raise a hand to a woman in inker other than self-defense that rarely occurs. we have to change the culture. we need to keep punching at it, punching at it, punching at it. charles: i heard awed automobile groans in the audience. those things biden never picks up on around him. he has no peripheral vision, when he is doing things in real time, beverly, he never seems to

catch it. which i think is worrisome. i want to ask about klobuchar. she keeps having her moments but feels like she is blossoming a little bit more. maybe the audience is getting her jokes. i want to play one of the key sounds from her and get your take on it too, okay? >> if you think a woman can't beat donald trump, nancy pelosi does it every single day. we must get fired up democratic base with us, but let's also get the independent and moderate republicans who cannot stomach this guy anymore. charles: what did you make of that? >> she had a really strong night when it came to messaging. i thought that she did play the female card a little bit too much. i think the line she had about nancy pelosi worked really well but she started talking about whether or not women have it harder in politics than men, taking on mayor pete in reference to that. i think should she be careful with the female card. like hillary clinton whose motto was, it's her turn, i think people are happy to vote for a

female if they agree with the policies not just because they are a female. one other thing that klobuchar was known for especially on twitter last night, there was a lot of discussion about her movements, seeming to shake when she was on camera, when she was speaking. people said she seemed nervous or health concerns. that is one of the things she was trending on? charles: less than a minute. i got to get winners from you. >> winners i think klobuchar really stood out. when you look at kamala harris who needed to make a move against tulsi gabbard because tulsi gabbard bested her in one of the past debates. i thought she was very strong. mayor pete seemed to hold his own. no one took him on too much. that was a win for him. charles: beverly, always appreciate it. thank you very much. >> thank you. >> israeli prime minister benjamin netanyahu is indicted on bribery and fraud charges. the nation's attorney general says netanyahu at one point was making deals with media outlets for favorable coverage in

exchange for bills weakening rival companies. netanyahu denies the claim. he says it is all orchestrated, it's a quote, witch-hunt. charles: frenzy to impeach president trump is consuming the media and washington, d.c. so much they have allowed corporate welfare to score a big win in washington. it has gone unnoticed until now. we have the details for you next no commission. delivery drones, or the latest phones. no commission. no matter what you trade, at fidelity you'll pay no commission for online u.s. equity trades. i am royalty of racing, i am alfa romeo. i need all the breaks, that i can get. at liberty butchumal- cut. liberty biberty- cut. we'll dub it.

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♪. charles: well the house passed a bill reauthorizing the export-import bank for another 10 years potentially lining the pockets of china-backed companies. the 85-year-old law is paid for by taxpayers with subsidized foreign buyers of u.s. goods. critics say it strips away government account ability and also pedals corporate welfare. we want to bring in heritage foundation senior advisor, genevieve wood. >> good to be here. charles: this used to get people fired up and all the shen against going on in d.c. provided cover of this. i can't believe maxine waters was able to rope in a whole bunch of republicans to get this through this week. >> when we say capitalism get as bad name, things like this make that the case. corporate welfare, big business, big government come together which is exactly what the xm bank is today. this is handouts for wealthy

businesses. that is exactly what ex-im is. the biggest bush fist as you well know are the companies like caterpillar, jon deere, boeing boeing not mom-and-pop shops on main treat america. the reality it is big businesses and businesses that don't need the money. charles: they helped rivals to american companies. >> yeah. charles: countries like china, mexico, turkey all benefited. i remember in india, indian airlines getting backing to buy boeing planes to go against delta. in a report by heritage, 7500 domestic airline jobs may have been lost because the ex-im bank. >> because you had these foreign companies in india, for example, making a deal, saying look, we don't have enough money to buy planes from boeing. the united states via taxpayers

give a loan to the indian company. it is subsidized loan. they buy planes from boeing at a cheaper rate than many american airlines such as delta can buy from boeing. guess what? they can make the rates cheaper. they can increase the number of flights. that is not fair competition. charles: yeah. >> the fact is we shouldn't be in that type of business. you make a good point. both sides of the aisle have been very guilty here. i think it may be dead on arrival in the senate. we have to look out for it. charles: i'm glad we're doing this segment. i also want to ask you, it is intriguing this would go through predominantly by democrats talking about the wealth in such a nasty way in the presidential election a new study of people. annual households of at least $240,000. get this, genevieve, they find they're making bigger donations to charities because of politics. the question, are they seeing the light or preemptive like the ray dalios of the world, you're right we need to do something

because they're so afraid if they simply sit there the far left will completely take over and change their lives? >> maybe that is the case. maybe people are worried they will be outed they haven't been giving enough. social media has been great at that showing who is giving it, who doesn't. i'm glad people with more are giving back more. i would like their motives to be pure and good but the money still works. charles: it does. cover of this week's "time" magazine about the elites falling apart. the overton window that has shifted no matter there has been a major shift and a lot of very wealthy folks calling it guilt, whatever, starting to sympathize with the notion their success has come because we have paved roads and they should be giving back more. are you okay with us going down this path? >> okay with the fact that what the people are feeling that they should give back to their communities? i'm okay with that. charles: not just give back with the communities, okay with much higher tax rates, okay with

confiscatory tax policies, those kind of things? >> you know, charles, at the end of the day what those things end up hurting are not the rich folks. the rich folks end up out of them. it hurts folks trying to get up the economic ladder. it doesn't do anything to create jobs. it hurts those who want jobs and get the new jobs and new opportunities in the the long run that is not way we should be going. charles: always great seeing you. >> thank you, charles. charles: the markets ignoring the impeachment hearings we're getting good old-fashioned consolidation after a monster run to the record lies. with the dow positive a few minutes ago we'll call that the "cp effect". democratic candidates quick to bash president trump in last night's debate. the big takeaway is that moderates have been gaining momentum and maybe mike bloomberg will join the fray. we'll be right back. ts stays lo.

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>> what we need on the stage in november is someone who has the ability to win and by that we need somebody on the stage with the ability to go toe-to-toe with donald trump and somebody who has the ability to rebuild the obama coalition and bring the party and the nation together. charles: president obama in focus last night at the democratic debate as the candidates fought over who is the one to bring the nation back together this after obama recently warned hey you guys are moving too far to the left. have the so-called moderates regain the momentum. chair of the civic for pac, ford o'connell and leslie marshall. i have to talk to you. i feel like you're a moderates. that i feel the moderates regained momentum in this process. >> depends where you're standing. >> from my vantage point, feels like elizabeth warren and bernie sanders lost a little bit. maybe warren's misstep with respect to the grand schemes

that she has. obviously we see buttigieg rising in polls. we see biden holding. and we see mod rats entering the process. >> i don't think it is, you know, are the moderates now coming into their own, if you will. i think they have been all along. biden has been in the top three all along and president obama is right. i wrote a piece about that on foxnews.com which they put up this warning. the reason he is right the general election is 50-state race. the majority of americans are in line with what a centrist moderate democrat is putting out there. that is why one of the reasons mayor pete has risen, kicking it, surging in iowa and new hampshire is, it is not just his personality. charles: right. >> it is not just that he was attacking warren. it is that "medicare for all" who want it, giving them choice and joe biden saying let's keep obamacare, affordable care act and build on that. that is appealing to people outside of the democratic party.

charles: we have a quote from your piece. like biden and many of the second-tier candidates buttigieg is taking the path recommended by obama, seeking evolution rather than revolution. former new york city mayor michael bloomberg today filing paperwork for possible presidential run. sources telling charlie gasparino though that there is still no final decision. ford, i want to bring you into the conversation. you know, patrick deval, deval patrick rather is in it. potentially bloomberg. buttigieg is rising. biden holding his own. it feels like maybe the far left scare for the party might be over for now? >> look, the far left scare may be over, this may be the battle they're having but i don't see them as moderates and progressives. i see them as crazier and craziest. it doesn't really matter from a policy standpoint, they're talking about taxing the middle class, talking about blowing up the health care system even talking about a public option. they're talking about defacto amnesty for every single illegal alien that crosses the border.

from a horse race perspective i see it largely two-person race between warren and biden of the reason is simple. warren is the pride and joy of the hard left white voter. joe biden is essentially getting near majority of the african-american vote. if you can't pry the near majority away from biden. he could very well be the be the nominee. the reason is simple. african-americans are 25% of democratic primary electorate. i saw candidates hacked off that african-americans are voting for joe biden, no questions asked whether or not he can complete a thought. charles: real quick on that. we came in with a sound bite of kamala harriss the ability to win to go toe-to-toe with president obama, i'm sorry, president trump. do you agree with that assessment and is ford right? is it really maybe about warren and biden so far being able to go toe-to-toe in a general election? >> first, ford, i'm not crazy or craziest, i want to be clear on that. actually she is right. the polls even show that.

democrats number one above any issue want to make trump a one term president. that is why biden continues to hold his place even if he is not winning in iowa. i think he most likely will be the no nominee. he will be somebody that al peals to michigan, wisconsin -- charles: mayor pete, you're not sold on him just yet? >> no. i think we talked about it off air. i don't feel people look at him, not just the fact he is not doing well with african-americans. when you look at numbers. if you can't do well as a mayor in your city. i do think the lack of experience will play in. a president with no political experience. we've seen historically elections are cyclical. a lot of people want people with experience now. >> to your point, if mayor pete is to be a major player he has to win iowa and new hampshire. he doesn't approximately that off -- >> he will not win south carolina. >> african-american voters are

not open to him. that is the bottom line. charles: impeachment thing i don't know if it is working with the dems with respect to polls. wisconsin, every democrat was beating trump last month. now he is beating all major democrats. we've seen a six point decline for biden. three percentage points. sanders four percentage points. buttigieg. feels like impeachment is backfiring. talking about wisconsin, the state many people say will decide the next president. >> wisconsin is a very important state. that is one poll. if i saw a lot of polls like that, more than three or more i would be concerned. one. two, this impeachment should not be about democrats or republicans voting for or against somebody. this is about a process, constitutional responsibility. charles: i hear what you're saying -- >> that is the problem. >> voters already made up their minds regarding impeachment. >> 38% of voters don't see this as impeachable offense even if you take everything the democrats say. no matter who they drag up to capitol hill. the results don't change. no evidence of an underlying

crime. what you can't get around the facts, ukrainians got the aid, there was no investigation of biden. i've got a transcript. keep going. this is the best thing that happened to trump thus far. if he doing this well in wisconsin, he will be carried over to florida. he will be reelected. >> if it was best thing happening to trump we would see huge numbers and polls. >> we know how harden the opinions are. charles: we'll see. so far early on, this is one poll. but an important state poll, right. it's a poll that people use in wisconsin. i got to tell you, so far, the trump administration you like what you're seeing. >> first good one he has had. charles: leslie, ford, thank you very much. >> thank you, chars. charles: later in the hour why cannabis stocks are getting a contact high from congress and they are on the move. also pressure brogue on facebook as google becomes the latest tech giant to crack down on political ads. with will zuck follow or will he follow? we have more after the break.

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i'm talking about the original "blade runner." tesla leads, what is interesting, gm is following. gm announced it will come out with the all electric pickup truck. it won't be ready to about 2021. we await what will happen with tesla in california. we'll watch obsessively the stock of tesla. charles, it is well off the 52 week low. we are as you mentioned earlier in the show, going to be talking about whether bloomberg or elizabeth warren or bernie sanders or joe biden, has the real narrative for the markets. jason trennert will talk about it and review it. charles: he is a great guest. my wife won't let me own a pickup truck. maybe this will push her over the top. everybody mass to catch the show, especially today, the "claman countdown" at the top of the hour. google is restricting highly

targeted political ads on its platform. another tech name doing it but everyone is wondering will its rival join them? kristina partsinevelos joins us. >> there is report from the "wall street journal" i reached out to the company to confirm this several times. they haven't responded back. the report is saying facebook is considering changing its political advertising practices in general by making sure that there is no low minimum. say you're a political campaign, you only want to target specifically 200 people. they would increase that minimum to a lot higher. why is that? to stop the spread of fake news. seems like facebook there has been a lot of rumors, we know that zuckerberg spoke with the president and that bromance is performing. a comparison across the board for big tech versus political advertisers especially as we're 348 days from the election. twitter says they will ban all

political ads. facebook is still reconsidering its ad policy the latest, google. google said they are going to ban all advertisements that are targeting people from a certain political affiliation. google knows this, they look at which sites you click on. they make the assumption whether you're a republican or democrat or somewhere in the middle. they target you with a specific ad. this for google will be rolling out june 6th in the united states. globally in the uk a little bit sooner. last but not least, we know once they start cutting this off, that means ad revenue could be hit. look at numbers, since june 201, $28 million. alone. the big spender, trump election committee. charles: thanks. final hour of trading. industries are slightly lower. it happens after you have monster runs. it is the calm before the next

big move. don't know which direction. speaking of highs, the latest move by the house, giving cannabis stocks a contact high. they are making a move. is it time for you to get in? we'll talk about it next. ♪. delivery drones, or the latest phones. no commission. no matter what you trade, at fidelity you'll pay no commission for online u.s. equity trades.

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data with inspiration, investors with solutions. because the possibilities of life and investing are greater when we come together. ♪ >> i have a lot of respect for the vice president. this week i hear him literally say that i don't think we should legalize marijuana. i thought you might have been high when you said it. [laughter] charles: joe biden, well, he might not have been high when cory booker said that, but marijuana stocks starting to really come on here. and this is all happening after a house committee voted to legalize pot at the federal level. so are these stocks a good place to roll your money in, or will you end up getting smoked? money map press strategist keith fitz gerald with us now. keith, you had a recommendation yesterday, i think goldman sachs

on one of the big names here, you've got the movement in the house. by the way with, two republicans voted for it. you know, these stocks have been hammered, and it's ironic, it's counterintuitive, but in general the index is now 50% since the legalization of marijuana in canada, is it time to buy them? >> well, i tell you what, charles, this is one of those environments where there's so many punks -- can puns, you don't know where to start, your money going to go up in smoke, you have to roll it up and light it, who knows? my take is this, these are still very, very speculative investments, and here's why. legalization is just like the internet in 1999, it's this great new thing out there. there is ultimately going to be a role for it, but in the interim, you've got chronic oversupply, a bunch of cowboys running businesses with very little experience, and you have lots and lots of companies that are going to truly get vaporized because they don't have the moxie e to survive. if you're a speculator, yeah, get in now. i'd rather see folks go for companies like scott's

miracle-gro which is up 70% over the year. charles: with my subscribers i'm actually down a little bit, i tried to buy it on the recent dip. constellation brands is a major company, it's poured millions of dollars into these names. is that a way of getting involved but also having protection because they do have other businesses? >> well, that's exactly my point. that's a company i was going to mention as well. you know, because this is like, for example, netflix which is just providing content and burning through capital versus apple or disney who are capable of subsidizing the business development costs. that's a decision that's got to be made in the pot business right now, do you want to get involved with a one-trick pony or go with a company that has other cash flow to subsidize the business development that you know is going to be there in five or ten years. charles: we did a segment in a block, gwh was brought up by one

of the panelists, we'll keep january eye on it. last week they got nhs approval for two medicines. charlie gasparino put out a tweet that goldman sachs is in discussions with u.s. bank and e-trade. we know there's consolidation going on. do you see consolidation not just in the banking world, but in general, starting to pick up here, keith? >> i do. and, you know, it's interesting to me because this is a critical time for that kind of activity. the stronger players continually invest. and they invest when they sense that they can get a good deal. so to me, this is a logical extension. we've seen it in energy, in technology. i think we're going to see it in finance, but we're also going to the see it in the personal brokerage space. charles: and i think that should be good news for consumers, a although some people did ask -- they get worried when the players whittle down, you know, are they going to be protected. i think right now, to your point, it probably would be great news. always great, keith, thanks a lot. >> thanks, charles. charles: all right. for a second, for a split second

we peeked into the green on the dow jones industrial average, we're only off 14 points, the calm before the storm. 3:00 is always the most exciting hour of the day. liz claman, over to you. liz: the pressure's on. [laughter] thank you, charles. great to see you. well, it is official, former new york city mayor and self-made billionaire businessman michael bloomberg will run as a democrat in the 2020 election if he decides to take the plunge which sources say could be a decision he makes very soon. it's something fellow billionaire and home depot founder ken langone has already applaud on "varney & company." listen. >> mike would be, to me, a formidable candidate and a great president. liz: how will bloomberg's entry, if it does come about, as a democratic candidate shift the narrative from the other 2020 hopefuls we saw on stage l