Skip to main content

tv   Making Money With Charles Payne  FOX Business  September 24, 2021 2:00pm-3:00pm EDT

2:00 pm
neil: all right, a wild weekend, we are still not done with a couple more hours to go up your market averages might have a tougher go but we will keep a close eye on it as well my buddy charles came-- charles payne who told me too calm down on monday. remember that. charles: good afternoon, folks. it's been a real crazy week and it ain't over yet. this is "making money with charles payne" i have to tell you one thing that's not in the news, it's a great time to be an american. our wealth is a soaring and it's mostly because of the crazy stock market. the question is why are you still on the sidelines? i say congratulate, get in, the water is five. we will talk to brian westberry about tax policy that could derail the party and did you get your piece of the action, get anything from the oldest industries to those
2:01 pm
booming right now and we have them for you. lots of news out of china, but evergrande and crypto not the biggest threat to our economy. i'm asking gordon what's really happening with this war on wealth was something going on. bitcoin may not be the currency of the future, once we-- cody is here to explain why ethereum it may be the top dog, all of that so much more on "making money with charles payne". charles: it's been a wild ride for the market. we plunged monday, surged yesterday and we are trying to find an equilibrium today with news overnight from people making china currency-- crypto currency illegal. of course evergrande all setting the tone for markets this morning, but the bigger story that is not only for the system but getting worse as the global supply chain problem and it's largely centered in
2:02 pm
china and that's why nike is my stock of the day but for the wrong reasons. demand is they are, but stock is tanking along with unavailability of sneakers. as is done though over and over again really sense march, 2009, the stock market is admitting resolved pure now, it's starting to change again with back to value overgrowth, but nevertheless the markets act fantastic. keith fitz-gerald is with us, greg francis. let's start with the markets peered i think it passed the biggest test of 2021 thomas so where do we go from here keith, can you hear me? >> i'm sorry. i had a crossover on my audio. i have also not had enough coffee so it's a crossover in my brain peered i think we aren't out of the woods yet,
2:03 pm
the fed's next move is problematic, but i like the fact that we see money concentrated in the areas of the economy that matter most, money, j.p. morgan, shopping, costco and companies like apple which plow forward. all companies like nike for example aren't going along for the ride. charles: chino? >> fall is notoriously choppy and we have not had a 5% correction or pullback in the past year. you have some catalysts we are keeping on ion that could cause volatility appeared china-- china u.s. tensions is heating up. we also have that the feds close to tapering and let's also talk about tax increases that are on the table. all of these things could cause volatility, but it could also cause upside surprise if they go well, so i would be a
2:04 pm
buyer on the dip if you can get in fast enough to. charles: greg, your thoughts? >> charles, you already know i'm on record as saying we will see 6% plus ebi and 5% course of the market will be further tested from here. all indications are that inflationary pressures are intensifying. the dumbest policy the fed enacted hasn't expanded the labor pool in the way it would like with trucking and shipping costs elevated and will likely remain that way for the year end the supply chain as you intimated seems to be more fractured than we originally expected and likely will take a year to rollout of that so we will face further pressures and add onto that really high cpi is not priced in and the fact we have a battle shaping up over the debt ceiling as well and that will send shivers down the market in addition to what i have already talked about. charles: let me pick up on that and go back to you gina, nike today fedex earlier in the week
2:05 pm
both getting slammed and for the most part supply chain issues or issues involving inflationary pressures. earnings season around the corner. how much of an issue will this be with these earnings? >> it could be an issue and we are starting to see more companies are saying supply chain bottleneck issues are starting to reflect the bottom line, but we do think the short term, not too much and semi conductors but with other companies and investors have been used to massive upsides with earnings. that's just not going to continue appear when you have high valuations and you have disappointing earnings, you are going to see some choppiness, but we think heading into next year, 2022 we are still bullish, but short-term put your seatbelt on. charles: speaking of that, this week energy saw the biggest etf of all the sectors and also went
2:06 pm
from having zero stocks above their 50 day moving average it to the most of any sector and i will go back to you quick greg. are you a buyer? >> i'm not a buyer of anything right now. there's no new buying for me until we get to the other side of a fed announcement and the other side of the cpi number i talked about, but i'm keeping an eye out as we go into the midst of an inflationary environment typically energy has performed really well. when you look at some of the indexes, they are up above the s&p year to date around 30% pure that makes a sense. energy stocks and energy companies have the ability to pass on inflationary pressures in ways other sectors don't and we have a multiyear growth story here because energy demand is growing faster than we can accommodate it. i look for some traditional sources to peak later in the decade charles: despite the messaging really confusing around covid
2:07 pm
that we have heard in the last 72 hours with signs around the world but particularly in this country the latest wave is starting to wane a bit with the so called a have been acting good. carnival cruise lines up, keith, are you a buyer of these? are they ready to make the big move? >> that's a good question. i think covid will be caustic traveling companion and i'm not convinced it's out of the system. with that said, i think investing in immortality will be the next big wealth creation so i'm not interested in recovery so much as the staying alive and staying out there, but i have been nibbling into the energy because i'm looking for breakthrough companies and chevron ironically is one of those with great breakthrough alternative energy investments. charles: i think greg is right, you know it's not going away for a long time and in the 70s by the way, that was the only
2:08 pm
sector that really, really performed well in the market. looks-- let's look ahead to the fourth quarter. what overall will help or hurt this market? let me go back to you, keith. greg is sitting on his hands taking a wait and see approach and i'm convinced there will be a fourth quarter rally. how would you prepare? >> i'm with you, no disrespect to greg. you can afford to be on the sidelines now. i think the fed will threaded the needle, but barely. i'm looking for 4675 on s&p 500 peered there's problems in china, problems overseas, but so what go with the opportunity and i cannot afford to miss that anymore than other investors can. charles: gina, you have expressed some concern particularly near term peered when do you think you get the all clear, maybe it's not about buying a dip that we are getting concentrated overweight stocks. >> i agree with keith. the fourth quarter is the best quarter of the year and we think there
2:09 pm
will be a 45% rally. s&p 500 target of 4700, so we are very bullish. it costs money to be on the sidelines, so keep that in mind as. charles: i love that. what i hate on wall street is when the market is up and they say risk on and when the market is down they say risk off, no risk on is when you ain't in this market up or down long-term get in and make yourself some money like greg, jean and greg, keith always do. have a great weekend. we will talk to you soon pure america's wealth is a surging thanks mostly to the stock market, so why is washington trying to dismantle the greatest moneymaking machine in history? you can bet economists brian westberry has thoughts and we will look into crypto, a digital world that will generate untold wealth. you want to be there.
2:10 pm
it's another day. and anything could happen. it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. get ready for it all with an advanced network and managed services from comcast business. and get cybersecurity solutions that let you see everything on your network. plus an expert team looking ahead 24/7 to help prevent threats. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities.
2:11 pm
in 2016, i was working at the amazon warehouse when my brother passed away. and a couple of years later, my mother passed away. after taking care of them, i knew that i really wanted to become a nurse. amazon helped me with training and tuition. today, i'm a medical assistant and i'm studying to become a registered nurse. in filipino: you'll always be in my heart. that spin class was brutal. well, you can try using the buick's massaging seat. oh. yeah, that's nice.
2:12 pm
can i use apple carplay to put some music on? sure, it's wireless. what's your buick's wi-fi password? it's buick envision. that's a really tight spot. i used to hate parallel parking. ( all together ) me too! the all-new buick envision. built around you. all of you. pay no interest for 72 months plus current eligible buick owners get 5 hundred purchase allowance on 20-21 buick suv models. it's moving day. and while her friends are doing the heavy lifting, get 5 hundred purchase allowance jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? ...delegating? oh, good one.
2:13 pm
move your xfinity services without breaking a sweat. xfinity makes moving easy. go online to transfer your services in about a minute. get started today. charles: yesterday evening the federal reserve leased its latest assessment of u.s. household wealth. amazing, almost $142 trillion and then one quarter we went over 4%, but we are up 21%
2:14 pm
since 2019 and the biggest driver is the stock market or as i call it the greatest wealth creation machine ever created. the pool of wealth is being-- two fundamentally change america and with me now chief economist brian westberry. brian, not a single new station i saw and i was looking all morning, mentioned america's household wealth that today. i don't get why we shy away from our success and spends much time suggesting it's no longer the land of opportunity. i mean, just one word to mrs. would have been warranted but no one talked about it. >> charles, this is such an interesting topic and one of the things i would say is its political. every piece of news is calculated you know if you think about it you have to have a vaccine to fly into america, but you don't need one to walk into america.
2:15 pm
why don't they tout wealth and while i believe there's a couple of reasons. one, younger people haven't had time to really say, so it's the older cohort, the older group of americans that have saved their 401k's with pension plans and that all goes up and government is trying to tell everyone with all of this spending, with all of this money printing we are making everyone better off and so if you tout a big rise in the stock market, a big rising home prices you have now left to some people out. i believe this is all about political like of the political dialogue and what we should be focused on is how much wealth america is creating because that in the end is what markets, what free markets, what capitalism generates and why people are lifted out of poverty. charles: to your point, earlier today president biden spoke and talked about plans spending plans and said the cost will be
2:16 pm
zero because he thinks he can lift all of that and even if it's a $6 trillion just from billionaires. listen. >> is a zero price tag. we will pay for everything we spend. it's going to be zero. zero because in that plan that i put forward and i said from the outset, i said i'm running to change the dynamic of how the economy grows secure i'm tired of trickle-down. millionaires and billionaires are doing very, very well. charles: brian, here's the rub, the only thing that went up faster than our wealth was our debt. there's not enough money for the billionaires and trillionaire's, the utopia he would like to see, is there? >> exactly. first of all, charles, there's no individual trillionaire's, none, so that's number one.
2:17 pm
charles: good, i was going to be jealous of someone. [laughter] >> exactly. the second thing is, i want to broaden this a little bit. in 1930, that's 90 years ago and i know people's eyes are glazing over, but government was two and half percent of gdp today, it's a 27% of gdp , which means government in the last and 90 years has grown 10 times faster than the economy. it's grown 10 times faster than corporate profits. so, the greediest entity in the united states is the government. here's the amazing thing, even with all of that government growth, evidently, i mean, if you listen to the politicians we have worse problems than we have ever had in our history and finally, me point out that if you tax the forbes 400 and i know people have said
2:18 pm
this to you before, you take all of their wealth, every bit of it, jeff bezos, all of bill gates and you take all their wealth and you get about three and a half trillion dollars and it cannot even run the government, it can do it for more than nine months. charles: wow. brian, i love to have these conversations with you. let me know when we get our first trillionaire because i'm going to hate that person. [laughter] charles: meanwhile china's president xi jinping, and prosperity campaign has destroyed a trillion dollars in wealth. should we never forget the great leap forward that economic campaign left at least 36 million people dead and right now a serious question, how far will they go to preserve his own power and stay true to communism here gordon chang is here and he has the best side of anyone. those of you asking yes, we have more moonshot investment so get your
2:19 pm
pen ready pure cody willard gives us his tics. ♪♪ ♪♪ if you wake up thinking about the market and want to make the right moves fast... get decision tech from fidelity. [ cellphone vibrates ] you'll get proactive alerts for market events before they happen... and insights on every buy and sell decision. with zero-commission online u.s. stock and etf trades. for smarter trading decisions, get decision tech from fidelity.
2:20 pm
why bother mastering something? why hand-tune an audio system? why include the most advanced active safety system in its class...standard? because when you want to create an entirely new feeling, the difference between excellence and mastery is all the difference in the world. the lexus es. every curve, every innovation, every feeling... a product of mastery. get 1.9% apr financing on the 2021 es 350. experience amazing at your lexus dealer.
2:21 pm
2:22 pm
2:23 pm
charles: china dominating financial news headlines with the double whammy, that evergrande drama and this debt payment that apparently they missed and also the people's bank of china reiterating all crypto currency transactions are illegal. a bitcoin took a hit on the news and some say it's not new. we will see. obviously there's interesting things happening there. i think there might also be a sort of tie-in between both-- evergrande dropped 17% overnight and i think
2:24 pm
and i suspect there's been serious capital out of china and authorities are trying to tie up the spigots including crypto and joining me now gordon and chang. gordon, you have evergrande in the crypto news and i think they are connected particularly this flight of capital that china might be trying to cut off all avenues. what do you think about that and will evergrande come to the rescue, the chinese authority? >> first of all, charles, i think you will be the world's first trillionaire so please don't hate yourself. [laughter] i don't think they will come to the rescue of evergrande and the reason is that they realize that even though they could do it, there are other evergrande's out there which means it doesn't really matter if the first one because the other ones are going to fail anyway pure china's going to go through a debacle. now, it could be a fast one or a slow one. japan was slow like the 1990s, the lost decade, but china has
2:25 pm
too much in debt and he can't get past this so you are right about crypto, it's about trying to prevent currency fly appeared also, you had the two senior executives hna were detained today and that means xi jinping is trying to find someone to blame. all of these are tied together because the chinese economy is falling apart. charles: i remember we talked so much about those ghost cities, the magnificent cities that they built and no one was living in them and i note know if it's part of the consequence of that but before we go there i want to go down another avenue because this whole common prosperity thing is sort of an owed it to mao zedong and i'm thinking we should probably never forget mao zedong's history, apparently to modernize china resulting in tens of millions of deaths. how far do you think xi jinping is willing to go to reestablish and modified to the table that his route ended up creating a massive income inequality with lots of billionaires, a
2:26 pm
lot of companies focused on profits. his route was not the route promised and it looks like he's trying to clean up that mess. >> you will go to any lengths to impose his vision on it china and the rest of the world. his vision really is maoist. you talk about the great leap forward somewhere between authority and a 70 million people died, but also cultural revolution. mao zedong started the revolution to get back at his enemies in beijing. we aren't at a cultural -- cultural revolution now but the parallels are that xi jinping is doing the same thing that his hero mao zedong did which is using the people to attack his political adversaries as a top circle of communist party. this really looks very worrying, charles. charles: i have a minute to go, but this reminds me president xi jinping spoke earlier in the week in the united nations and said china would never bully the world. [laughter] isn't that what's
2:27 pm
happening? >> he has his troops deep in indian -controlled territory with chinese in bhutan and nepal. ascending his ships into japanese waters and cleansing his planes into taiwan's air defense is own. it's worse than bullying and this is really dangerous because xi jinping has a very low threshold of risk right now which means he could take us by surprise and do something that could lead to the history's great-- next great conflict. charles: and president biden doesn't think we are in a cold war with china. gordon, thank you very much. >> thank you, charles. charles: black rock is saying you know it's happiness china is a great buying opportunity. we'd like to buy low and sell high. paul, according to reports blackrock actually preparing a new etf to invest in china tech stocks. it wasn't long ago they said trip a lot investments in china
2:28 pm
before the second or third leg down pure do you think this is a good move? >> good afternoon. good to see you, my friend appeared normally what wall street shops do is there's an old expression that when the tax quack feed them in their is an unsafe seated demand for product. in 1999 merrill lynch with-- came out with all this technology quote unquote etf, because i etf's. i give blackrock credit, something i don't often do. they are coming out with a new etf because there is so much demand. they are coming at it from a different angle because they are being knocked off the pedestal a bit. i think they are a bit early and i think it will pay off in a big way in the later half of 2022, 2023 and on so i think it's a good move. charles: all right. some are saying this crypto crackdown in china one of the other reasons is the need for electricity demand. we know crypto mining
2:29 pm
sucks up a ton of the power and when you think about the supply chain issues and how much they must be running the manufacturing system over there kind of makes sense, by the same token we saw nike had a bad quarter, fedex had a bad quarter so was the great risk to the supply chain >> i think-- it's like anything else, a bunch of the guest talked about all the known problems, supply chain, delta, evergrande with a litany of issues, the fed and others, i'm not as concerned because it's a known issue. it's a known problem. there is light at the end of the tunnel. i think that light really comes in our face early 2022, so everyone knows we have these problems. the key is the market reaction has been one of resiliency. our market-- when things have a little bit of uncertainty in the world, people flood where the money is
2:30 pm
treated best and it's usually here. back into china for a second, they've had the worst growth of the modern era. and they are lucky some of the labor flows to vietnam or their economy frankly would not be growing at five to 6%, but it could be one to 2%. if you asked me for china looking forward, while the supply chain problems are here, i think their economy bottoms next year and you get a better opportunity over there, but for now that money is firmly planted in the u.s. charles: all right. usa, that's what i like to hear. paul, have a great weekend here so, don't stop believing. this year of short-term trading we will dive into when you should buy and hold. listen, it's fine to fall in love with a company, but you should also fall in love with the team behind the company specifically the ceo and we have a dime enhance a lesson coming up.
2:31 pm
♪♪ (vo) at t-mobile for business, unconventional thinking means we see things differently, so you can focus on what matters most. whether it's ensuring food arrives as fresh as when it departs. being first on the scene, when every second counts. or teaching biology without a lab. we are the leader in 5g. #1 in customer satisfaction. and a partner who includes 5g in every plan, so you get it all. without trade-offs. unconventional thinking. it's better for business. hi, i'm steve and i live in austin, texas. i work as a personal assistant to the owner of a large manufacturing firm. i've got anywhere from 10 to 50 projects going
2:32 pm
at any given time. i absolutely have to be sharp. let me tell ya, i was struggling with my memory. it was going downhill. my friend recommended that i try prevagen and over time, it made a very significant difference in my memory and in my cognitive ability. i started to feel a much better sense of well-being. prevagen. healthier brain. better life. everyone remembers the moment they heard, “you have cancer.” how their world stopped...
2:33 pm
and when they found a way to face it. for some, this is where their keytruda story begins. keytruda — a breakthrough immunotherapy that may treat certain cancers. one of those cancers is advanced melanoma, which is a kind of skin cancer where keytruda may be used when your melanoma has spread or cannot be removed by surgery. keytruda helps your immune system fight cancer but can also cause your immune system to attack healthy parts of your body. this can happen during or after treatment and may be severe and lead to death. see your doctor right away if you have cough, shortness of breath, chest pain, diarrhea, severe stomach pain or tenderness, severe nausea or vomiting, headache, light sensitivity, eye problems, irregular heartbeat, extreme tiredness, constipation, dizziness or fainting, changes in appetite, thirst, or urine, confusion or memory problems, muscle pain or weakness, fever, rash, itching, or flushing. these are not all the possible side effects. tell your doctor about all your medical conditions, including immune system problems, or if you've had an organ transplant, had or plan to have a stem cell transplant, or have had radiation to your chest area
2:34 pm
or a nervous system condition. today, keytruda is fda-approved to treat 16 types of advanced cancer, and is being studied in hundreds of clinical trials exploring ways to treat even more types of cancer. it's tru. keytruda from merck. see the different types of cancer keytruda is approved to treat at, and ask your doctor if keytruda can be part of your story. as i observe investors balance risk and reward, and ask your doctor if i see one element securing portfolios, time after time.
2:35 pm
gold. your strategic advantage. charles: the healthcare worker and nursing shortage is starting to worsen. down 500,000 since before the pandemic. a lydia is with me now. at lydia, how much of it has to do with the vaccine mandates? >> charles, the vaccine mandates are probably going to make a difficult healthcare staffing situation even worse. some workers are forced to choose between getting the shot and staying employed. hospital turnover is high at nearly 20%. we also know that across the country, just yesterday 993 hospitals reported that they were
2:36 pm
critically shortstaffed. now, 20 states have mandated healthcare workers get vaccinated and millions more workers will face the mandate to get the shot or face weekly testing but a number of states are requiring vaccine without allowing testing options. here are some tracking according to colorado, oregon, washington state in california mandating shots without allowing testing. most recent estimate shows about 75% of healthcare providers were vaccinated in august. the rate has actually gone up since then as we see the national push to get vaccinated, but by how much remains to be seen. consider this, new york state alone has roughly 458,000 hospital workers the vaccine mandate in new york goes into effect monday and currently there's 84% vaccination rate which means by monday, 72,000 workers could risk termination if they don't get their first
2:37 pm
shot before then. charles: that's going to be a catastrophe. lydia, thank you. the irony with that story and what happened today on that view, two of the house, sonny and anna were asked to leave the studio because they tested positive for covid forcing them to leave alive on the air before they interviewed with vice president harris appeared to join now to discuss is heather turk heather, these vaccine mandates, you know they are tough. it's a complicated situation and certainly won't help small businesses. it's not going to help a lot of the heavy states and cities and industries like the healthcare industry and in many ways it seems like it will make it worse. >> it could make it worse when you have a lot of nurses that have yet to even get one vaccine and now, we are talking about vaccine boosters. we have 11 million job openings now so if you want more people to go
2:38 pm
back to work, i'm not sure that's a winning strategy and i think about all of the vaccine mandates with children right now pure obviously i'm not a doctor and i'm not sure the evidence showing kids that it is a safe for kids to get the vaccine and i think it's very important that we keep the schools open at this time so we can get mothers back to work as well because if you look at the rate of women dropping out of the workforce, the participation rate is at its lowest levels in three decades. charles: i went to touch on a couple of things you just mentioned i mean the messaging is horrible, what we saw from the cdc director, going somewhat against the science and the rambling comments from president biden today and i think the irony is forcing this booster and being so adamant about it, it will increase hesitancy. with respect to women, we see now larger percentage of households where an adult mostly the women in the
2:39 pm
household not able to work because of childcare issues with the child care industry losing people by the dozens and we saw in the last report the price for a men's suits went through the roof and the price per women suits plummeted. it's clear women are going back to work. how do we resolve that? >> well, look, if you look at the evidence and the data of how many women dropped out of the workforce versus man during the pandemic you are correct to point out it's taken the heaviest toll on women. i temporarily quit and left my job during the initial covid to shut down a year end a half ago to take care of my 5-year old because she can't stay home by yourself. she's not 16 or 18. you look at the detriment of facts, not just on the kids in terms of obesity, child abuse, black and hispanic schools, those kids are six months behind in the schools predominantly minority kids, so it's disproportionately hurting those that we
2:40 pm
want to help the most and at the same time you actually pointed out it's the women taking care of the children. in general, i know there are some men that do stay at home and a shout out to them, but it's double duty. i think i call it that where you have your full-time job plus your household chores as a woman plus taking care of kids and now, we become teachers. women are just exhausted charles: quickly before i let you go, back to that view, vice president harris on the view i guess a friendly ground for her to go dip-- considering the debacle at the border and plummeting poll numbers. what do you need to do besides pr campaigns to turn it around? >> go to the border. get her to the border, i mean, that's what i would do. you have been tasked since you were elected with control over the border and you have all of these-- it's a humanitarian crisis on
2:41 pm
both sides. it's not a political debate i think both sides agree you look at the pictures and instead of being on political stunts on the view where people are announcing they have covid live on air versus a commercial break and she gets four minutes of a rapidfire questions that are probably scripted and her big announcement was broadband access. if you want kids to have broadband access keep the schools open, so, i mean, look, the whole thing was a joke. she lacks authenticity with the viewers and her constituents and i don't think there's any hope for her. i would head to the border as quickly as i could. charles: heather, thank you so much. talk to you soon. at next folks, we will help you form diamond hands and how do you fall in love with this stock? we have the market rose, rob luna and scott martin. how ethereum could be
2:42 pm
the crypto future. [slow electronic notes fade in] [fast upbeat music begins] [music stops] and release. [deep exhale] [fast upbeat music resumes] [music stops]
2:43 pm
in business, it's never just another day. it's the big sale, or the big presentation.
2:44 pm
the day where everything goes right. or the one where nothing does. with comcast business you get the network that can deliver gig speeds to the most businesses and advanced cybersecurity to protect every device on it— all backed by a dedicated team, 24/7. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. it's moving day. and while her friends are doing the heavy lifting, jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? ...delegating? oh, good one. move your xfinity services without breaking a sweat. xfinity makes moving easy. go online to transfer your services in about a minute. get started today.
2:45 pm
2:46 pm
charles: this week one of the biggest winners in the markets is thermo fisher which hosted a analyst meeting last friday. the stock, by the way, has been a winner for many weeks and over the past 10 years very few have outperformed tml, but the question is why doesn't everyone on this stock or how do investors get diamond hands on names they can buy and hold like this. for me i think diamond hands boils down to a few things, number one, belief in management. how do you believe in management? they have to be able to execute on that and sort of a relentlessness, everyone has ideas, but how many times have you walked into a store and saw something and said golly, years ago i had that idea and you hit yourself on the forehead thinking of all the riches you could have
2:47 pm
had. it's about having ideas, bringing them to life and operating a business geared towards domination ultimately building a profit machine that's protected. you do that through execution. of course, staying ahead of the curve to be relentless about the pursuit of relevancy. either a company is turning out industry changing products ordered finding other companies that fit that bill. thermo fisher from 1956 when they merged in 2006 when management embarked on this very aggressive acquisition strategy. it has served them well and it's kept them ahead of their rivals. of course we all know about tesla being the biggest stock weather of the last decade. did you know domino's has outperformed netflix for the number two and three spots? bring in view scott martin along with surevest ceo rob luna. scott, how do you decide when there is a stock that you like a lot and you want to put it on the shelf and forget about all the noise and
2:48 pm
the gyrations in the market and you put it up there because you think it will be a grand slam in a few years. >> a quick note on domino's that's largely because the me, the stock outperformance and me ordering from domino's. you can tell i'm a domino's lever. two things, charles, i like how you set it up, you want a company that will be ingenuity of an a company that's going to have executive leadership that can pivot and adjust with the current environment we talked about these names with the market rose, rob and myself included and you are part of the market borrow-- bro where we looked at darden restaurants, the chief executive officer had been there for over 14 years in the restaurant business and he's in ingenuity of out-of-the-box thinkers that when we went through something with covid and the impacts he was ready to pivot immediately and did that take out stuff in the mobile to couch or kitchen to couch delivery services and they didn't miss a beat
2:49 pm
and that's been one of our best texts and it's similar to his nylon suits, water development company that's been there for many years and the history and the water business, i mean, there's a lot of things when you look at a company and you like their products and their solutions, but you have to look at the executive leadership to see how long they have been in the business and how they can pivot if they have to go through something like we did in 2020. charles: they have to execute under fire up your rob, you train people how to make money in the market and i know you preach your own brand of diamond hands, so what are the key tenants? >> you are talking mileage at the beginning i mean, exactly what you are saying. we make our decisions based on a committee. i have great people on there that dig into the numbers, but my expertise is exactly what you are talking about to understand two things, number one the strategy and solutions, but most importantly the people and the ability to execute an execution
2:50 pm
means taking the strategy and executing with your people and creating a narrative that excites people and motivates employees to get people excited about your brand. that's difficult to look at companies with sales force and what they've done there. i've owned amazon for 17 years to get jeff bezos articulated a vision for the market where he remained unprofitable for well over a decade and today he's dominating. people like you said if there's a great idea, without someone to execute, the stock will be worthless if you look at management, look at strategy. companies like anima-- amazon, they sell off and i buy back every single time because i know management has the ability to execute. charles: i'm glad you brought up because a lot of people watching this show go with their heart and their politics. please you can't do that you have to own the great company evening if you don't agree with the ceo. he is successful, owns
2:51 pm
"time" magazine and he won't come on this show. i have been begging him, but i have subscribers in that stock and will stay in that stock as long as he's in charge politics aside because he knows how to operate a business before i let you know, scott, your thoughts on the market, are you okay and think we passed the critical test? >> i'm okay for the moment because things have recovered. monday wasn't a great day, but if you are at with free cash where we talked about like rob said on names you like you have to put money in on days like monday because those days are fast and furious because by tuesday morning we were up by about 30 points in the s&p so take these opportunities charles: i got to apologize to the folks on twitter. i tweeted rob would talk about humble, i can't ask you yet. we will bring you back on to discuss it, but in about a month you will have the ultimate diamond hands are getting married so i'm
2:52 pm
going to say congratulations now. >> thank you. i appreciate that. charles: these guys, if you want to make money listen to scott and rob. so many ideas and semi great guest with never enough time. i write about this stuff every single day on my daily commentary, check it out, it's free. i think you will love it. we have been talking about this for two weeks, digital world of living and working. is coming a matter what. is going to create amazing fortunes unlike any other priors. cody willard on where you want to be to get your piece of that action. we will be right back. ♪♪ ♪ ♪
2:53 pm
♪ ♪ let's go walter! after you. walter, twelve o' clock. get em boy! [cows mooing] that is incredible. it's the multi-flex tailgate. it can be a step, it can even become a workspace. i meant the cat. what's so great about him? he doesn't have a workspace. the chevy silverado with the available multi-flex tailgate. find new adventures. find new roads. chevrolet.
2:54 pm
2:55 pm
liberty mutual customizes car insurance the so you only pay forh the availabwhat you need.tailgate. how much money can liberty mutual save you? one! two! three! four! five! 72,807! 72,808... dollars. yep... everything hurts. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ why bother mastering something? why hand-tune an audio system? why include the most advanced active safety system in its class...standard? because when you want to create an entirely new feeling, the difference between excellence and mastery is all the difference in the world. the lexus es.
2:56 pm
every curve, every innovation, every feeling... a product of mastery. get 1.9% apr financing on the 2021 es 350. experience amazing at your lexus dealer. charles: so for the last couple of weeks we've been talking about investing in the future, and you guys have loved it, so we're going to keep talking about it because i love it as well, and i think there's a fortune to be made. one of the ideas that i'm not going to be a part of is the metaverse, nevertheless, guys like mark zuckerberg are helping to make it a reality. trading can can cody -- trading with cody, i'm not going to go down the rabbit hole, but i'm assuming everyone else will. you bought amazon at a buck three split, or split adjusted.
2:57 pm
i know you believe in it, how can we make money? >> why so cynical over there? it's one of the futures for our world. [laughter] we're all going to end up in the metathe verse a little bit. i mean, anybody under the age of 70 or 80 at least is going to be around for another 10 or 20 years, they're going to end up being in the metaverse. facebook is clearly, it's a stock i've also owned since just after its ipo, and it's been one of my favorites in large part because of the oculus and their virtual reality movement. what the metaverse really is getting you into this other world where it's a virtual world, and you can walk around and talk to people and, you know, hang out with your friends or go bowling. you know, i've been -- i've owned the oculus now for several months, and my wife and i and when we bother to do it, you know, we don't get it on very often, but at least once a week or something we'll put that oculus on and play top golf or something, and it's a lot of
2:58 pm
fun. charles: all right. hey, listen, i figure i'll get sucked in there sooner or later, no doubt about it, i just watched the matrix movies, and it makes me nest. there's some other names like unity. why is a stock like that getting hyped? >> well, so unity makes a platform that app developers and game developers can build on top of nord to create these -- in order to create these virtual worlds or games inside of the metaverse. facebook is sort of the ultimate platform play because it owns the operating system of the oculus that a lot of this stuff is going to be built upon, but unity then enables game developers to do more on that platform easier. and so, look, it's a $40 billion market cap already. i used to own unity, i don't right now, but it's a great company. it's just overvalued. charles: okay. and i think i know my granddaughter loves problocks, at least -- roblox, at least she used to, but i can't let you go
2:59 pm
without talking about crypto. you say it's going to play an important role, but apparently ethereum more than bitcoin? explain that. >> well, so in the metaverse especially i think what you're referring to is that these apps, a lot of apps and games not just built on unity, you can then build stuff on top of the ethereum protocol anyway. bitcoin i've owned since 2013, i still own it. ethereum, i've owned for several years, continue to own it, and both of them, i think, are core holdings. i wouldn't go crazy right now because like a lot of things, you know, crypto feels like a bubble. there's 12,000 bubbles out there -- 12,000 cryptos out there, and 10,000 are probably headed to zero. charles: so should that happen naturally, i've got 20 seconds, or should the government make it happen? >> it's going to happen naturally, but the government if it's going the bother having an sec and regulations, you need to enforce the law, and they're not
3:00 pm
doing that. crack down on some of these fraudulent cryptos yesterday, please, sec and others. charles: i wish we had more time, but i miss ya, talk to you again real soon and have a fantastic weekend. >> thank you so much, charles. great to hear your voice. charles: yeah. if cody tells me to get in the metaverse, maybe i will. in the meantime the, i'm in the stock market, i am loving it, but we've got an hour to go. liz claman will take you through it. [laughter] liz: i know. a wild week wrapping up with some friday fizzle. uncertainty is the word of the day following the biggest two-day gain in six months. yes, you see green on the screen, but you want to see uncertainty, look at the intraday of the dow jones industrials. so far it has crossed the unchanged line 154 times. right now we do have the dow up 40 points though, s&p up by 6, but the nasdaq struggling here, down by 13.
3:01 pm
the na


info Stream Only

Uploaded by TV Archive on