Skip to main content

tv   Making Money With Charles Payne  FOX Business  May 19, 2022 2:00pm-3:00pm EDT

2:00 pm
david: investor must know it is charles payne time, things are looking a little better, charles. charles: hashtag cp effect. i will take it from here, david. david: you take it. charles: good afternoon, i'm charles payne. this is "making money." breaking now, markets start the day under pressure ones again. buyers are kicking the tires so when does the carnage stop? i have market pros that guided you the right way talking for weeks and weeks. they're all back. they will share with you what they think, i will share with you how to make a potential buy list. i will take you to stock school. elon musk the latest target
2:01 pm
shedding light on the farce that is esg. i'm more fired up than elon musk is. i will share a warning that we need to be fighting back more than ever. "wall street journal" slamming crypto, especially crip crypto and bitcoin but is it too early to dance on the grave of bitcoin and defy revolution? all that and more own "making money." charles: it began as a random walk down wall streets. all of sudden experts were hit by a bus. you know what it was, folks? it was the real world. inflation bites. and so many people watching the show. not every consumer has a piece of that fabled $2.5 trillion honpy pot of savings wall street is always bragging about. this is the deal. here is how we start the recession. google searches for recession and inflation. look at this number, outrageous never been this high this is all
2:02 pm
news for anybody on main street, right? there are record spike of searches going on a fair amount of time. while the experts were singing from the same recession hymn seat, market was peaking. i want to show you what was happening as wall street was saying okay, not necessarily everything was okay. we have very few stories about recession right there. wasn't talking about it, the market was rallying but as soon as stories of recession started coming on the market started crashing and guess what? now wall street sees it. it was already in the news. here is the good news. historically when there is avalanche of these kind of stories, wall street starts to see it, main street starts to put out the crazy stories it is often the bottom of the market. look at this peak bear market stories, bottom of the market. peak bear market stories, bottom of the market. look at these bear market stories. you remember that was the pandemic! bottom of the market. you know what? more than 8200 stories printed
2:03 pm
about the bear market, second most of any week in the past decade. so here we are, we know we're in a recalled would of pain. the question of course course when does it stop? you want to be there when it does. we bring in riacio lance roberts. i know you're a contrarian. you write about this stuff all the time. reading about this sharing a lot of stories with folks, hey the more of this stuff we see the market will be okay. there is always rallies in recessions, first year of fed hikes markets go up. that simplifies it, right? you've been trying to tell people it's a lot manufacturer complicated than that. >> it is, because you're right, absolutely when you see a lot of bearish sentiment, bearish comments you're near the bottom of the market. it is very basic. investors buy high, they sell low. typically get all the selling out of the market near bear market bottoms. there is a difference this time.
2:04 pm
previously when the fed starts hiking interest rates that has been an okay sign. markets tended to do okay a little bit after this. because there was no inflation. there is a difference this time. the fed is committed to hiking rates to combat inflation. so that is a risk that we haven't had to deal with before. charles: right. >> but the overall bearish sentiment i think is something we need to pay attention to because as you said it's a very good contrarian indicator historically. charles: there is also a lot of talk about the retail investor being dumb, late, perennially wrong. i have to sell you i have not been impressed with professionals from hedge funds or active money managers. do you use their sentiment as a contrarian indicator. >> absolutely. sentiment is sentiment across the board. if you look at retail sentiment right now its a at the lowest level of any bear market. professional sentiment, how much
2:05 pm
money they have in equities that is near bear market bottoms historically. pretty much across the board professional and retail they're bearish on the market it is almost bullish. charles: are you in the camp sell the rallies, buy the dip, sell the rallies until we get terra firma, better footing? >> absolutely. you have to play the market for what it is. markets are very oversold but when markets are oversold we get what is called a trapped long. people are trapped in the market. they're looking for a rally to get out. we saw the big rally last week, we give it all up again following target report. people use rallies to get out of. until you get a consecutive string of rallies that start to reverse technical trends, sell the rallies for now, raise a little cash, be conservative. charles: at some point, lance, the market will be overly sold,
2:06 pm
will be excessive. >> right. charles: how do you think you will decide that, and when that is the moment what action are you going to take? >> the first thing to know when markets are really oversold here, this will be a function of market technicals. we're getting the market to act better. that is a good sign. i would suggest probably this will be a point federal reserve will be talking about, stopping hiking interest rates or talking about cutting rates. at that point we definitely want to go back in looking at those stocks really beaten up, with great fundamentals. apple, microsoft, google, these type of companies that are on the growth side of the ledger. coming out of this bear market is where growth stocks will really start to shine again. we're seeing deflationary pressures in the economy as well at the same time. that is where you want to start looking. right now we're focusing on value and consistent earnings growth. verizon, unitedhealthcare, abbott labs. these companies that help protect you during periods of uncertainty. charles: we covered a lot. as usual we learned a lot.
2:07 pm
lance, thank you very much, my friend. >> thank you, sir. charles: wall street wants to see more capitulation, want to see more blood in the street, they want you to suffer, right? despite the huge hit yesterday, think about how ugly yesterday's session was. there was not enough signs. we actually saw investor resolve. think about this, volume was very, very light and certainly not enough new lows. yesterday there were 321 more new lows than highs on new york stock exchange, 338 on the nasdaq. heck a week ago there was more carnage than that, this is what wall street wants to see. they want to see 2,000 more stocks at 52-week lows than there at 52-week highs. can we get there? do we want to get there? let's bring in david nicholas and lamar hillary. david, start with you. you've been very cautious. i want to comment you. you helped the audience a lot. how much more pain do we need to see though? >> charles, unfortunately the s&p is down 18% year-to-date,
2:08 pm
pretty painful, still trading 17 times forward. when we look back historically the generally trades 13 times forward earnings before we bottom out. i hate to say the market is bottoming but i'm not calling bottom in yet. i think we will have a reset lower when it comes to valuations. >> lamar, are you in the camp, do you want more pain or start to nibble here banking at some point we come out of it. >> we're not looking for anybody to feel pain. we're in in new orleans. we're having a good time. charles: [laughter] >> we see investors are fearful. volatility on relatively light amount of news we think we're nearing a bottom. 4,000 low on s&p. we think that is significant range. we'll not get too far below that we think there are interesting opportunities here. there is just a matter figuring out how to best deploy cash to put it in something very beat up or high quality that pulled back a little bit. charles: david, let me ask you,
2:09 pm
you talk about valuations. how would you rank your concerns? there is all kinds of reasons right now to be out of this market. what do you want to see resolved first and foremost? >> from a larger macro standpoint the administration is not providing confidence. i see this all the time, good intentions don't a week make, good policy. $1.9 trillion american rescue plan, well-intentioned. it caused a lot of props. core cpi with wealthy nations. mesh was in line with most wealthy nations until last year. then core cpi surged. the administration is not doing enough to provide confidence we need that. is the first thing. second thing is the hawkish fed mistake. the market is pricing in the fed raising rates. we don't know what will happen with the fed winding down the nine trillion dollar balance sheet. that is uncharted territory. whether or not we're in recession. i don't think the market thinks we're in recession. if it turns out we are i think we'll see selling pressure into the end of the summer.
2:10 pm
charles: lamar, checking out your website. you do individual accounts. you have a couple of publicly-traded funds. reminds me of passive investing. wonderful on the way up. feels like it is adding to the pain on the way down. are we back in a stock-pickers market? i know it is cliche but is that where we are now? >> sure. the passive investment thing has worked, worked well the last several years because the giant, nation book, amazon, netflix, google, those are really working. so the index was really driven by a small handful of stocks. as soon as valuations on those pulled back, those structures really faded and it is a stock pickers market. there are great al use out there to be had. some things are stretched from valuation standpoint. >> i was reading in your bio, words to live by, no single stock is right for everyone. what does that mean? >> well certainly there are some really attack i've whether
2:11 pm
alphabet or netflix depending what you're looking for is great for certain people but a lot of investors are happier in more staples, dividend payers. a lot of our clients are more on younger end looking for long-term growth. sort of taking the pain, looking at some of these very long-term prospects of some growth companies, especially in the small and mid cap market can pay off in the long run. charles: david, when you become constructive where do you think you will be focused? >> charles, they built their wealth. hire us to protect it. 12% cash, 12% energy, 9% commodities. i think that will help us hide out to get you there the summertime. we're looking to make a rotation to tech. if we officially hit recession this year, that will be the buying signal for technology. we'll look for software driven technology companies like microsoft, like oracle that have subscription based revenue. i think that will do very well if we head into recession. charles: david, lamar, thank you
2:12 pm
very much. appreciate it, guys. elon musk taking to twitter to tesla getting kicked out of the s&p 500 ese index. mobile, exxonmobil is still in there. this whole esg movement i think it is phony. i'm tired of this woke push. i will tell you exactly how i feel about that. a top fed official warns he is not too worried about recession. is that really an admission we're already in a recession? we'll ask danielle dimartino booth. she's next. ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it!
2:13 pm
become an agent of innovation with invesco qqq yeah... oh. don't worry i got it! since i left for college, my dad has gotten back into some of his old hobbies. and now he's taking trulicity, and it looks like he's gotten into some new healthier habits, too. what changes are you making for your type 2 diabetes? maybe it's time to try trulicity. it's proven to help lower a1c. it can help you lose up to 10 pounds. and it's only taken once a week, so it can fit into your busy life. trulicity is for type 2 diabetes. it isn't for people with type 1 diabetes. it's not approved for use in children. don't take trulicity if you're allergic to it, you or your family have medullary thyroid cancer, or have multiple endocrine neoplasia syndrome type 2. stop trulicity and call your doctor right away if you have an allergic reaction, a lump or swelling in your neck, severe stomach pain, changes in vision, or diabetic retinopathy. serious side effects may include pancreatitis. taking trulicity with sulfonylurea or insulin raises low blood sugar risk. side effects include nausea, vomiting, and diarrhea,
2:14 pm
which can lead to dehydration, and may worsen kidney problems. the choices you make can help control your a1c. ask your doctor about once-weekly trulicity.
2:15 pm
2:16 pm
charles: the economic hits keep coming folks. this morning it was the philly fed manufacturing report. activity slowed to a two-year low however there were a few bright spots. lauren simonetti with us. she has more. reporter: want to start with the good news? charles: yeah. reporter: charles. this is the may reading. data is pretty fresh. here is the first positive for you, index for new orders, that rose. number two, current shipments climbed to the highest reading since october of 2020 and third most importantly, prices paid. okay, 78.9 is the level. that is uncomfortably high but it moved down by six points.
2:17 pm
that's a sign, potentially that input costs might have peaked for some businesses. we will see. it certainly does not mean we're out of the woods. here are the problems in this report. businesses are nervous. so they're holding on to their money that is the first negative. capital spending plans plummeted to a six-year low. if companies feel pressure on earnings they invest less in themselves meaning they hire less. that is the second negative. the current employment index, that fell a sharp 16 points and average work week fell as well. lastly the outlook, asked how much consumers expect to spend on goods? they say more over the neck year and the next decade. bottom line, yes, the economy is slowing on its own, under the weight of inflation. and supply chain issues. how much can the federal reserve exacerbate that slowdown with higher rates? philly fed president, patrick harker says recession is
2:18 pm
avoidable although some economists say, we're already in one. charles? charles: yeah, yeah. hard to argue against it. lauren, thank you so much. really appreciate how you broke that down. i want to bring in danielle dimartino booth. another fed regional manufacturing report peppered with a well bunch of red flags, danielle. i want to start with the special questions. because it suggests inflation woes from where they thought they would be in february, would be much higher, not just for the year but for the next decade. how does that impact the fed? >> well certainly should theoretically keep fed engaged. keep powell in the volcker shoes. because it is clear that versus what we had in february, inflation has become an entrenched mindset. and that is going to to disasterously focus on future. ceo confidence, crashed in the fastest level in the history of the entire series, charles.
2:19 pm
that means many companies follow amazon's lead april 2th when they made announcement. too much warehouse space, too many employees. we're hearing echoes on other earnings conference calls. you see ceos are battening down the hatches beginning to cut cost. charles: it is interesting, yesterday philly fed president harker said something interesting. he was not as worried about a deep recession. which is admission we're in a recession. fed is reluctant to say about that. he didn't argue about that. why is that so important, that distinction? >> well i think, i think the fed is beginning to acknowledge there are certain exogenous factors outside of the fed control, even broad u.s. economy. china effectively being in recession. and germany's largest trading partner, also being in recession. it will take europe down as well. only so many outside forces that the united states economy is going to be immune to. lore rest at that messter last
2:20 pm
week -- loretta mester of the cleveland fed wouldn't be second quarter ends june 30th is not a second consecutive negative print. if this is common thinking of the fed leaders they accepted the starting point that the u.s. economy is in recession. charles: yesterday felt like a whole lot of wall street folks had come-to-jesus moment. scott minerd, s&p 45%, feels like mostly because he is concerned that the fed will overshoot on the neutral rate. how worried should people be? we want powell to talk tough. shows up and gives us his best john wayne impersonation and everyone is heading for the hills? >> this is not what people wanted to see and i've been predicting this for months. i would say wait until jay powell confirmed by the senate. then see how he talked. it has been a whole week since that confirmation occurred and
2:21 pm
starring thursday, john wayne came out. john wayne, paul volcker, they're strong tall men. maybe powell is having inner cowboy i will fight inflation until it is tamed. >> danielle, thank you so much. can't wait to see you next week in studio. >> in studio. i will be there. looking forward. charles: the slump on wall street, it keeps deepening so what are investors to do? i will ask two of the very best coming in. we're going to hash this out. i think it is phoniest movement by the way in the golden era of phony movements. my takeaway on the esg scam if you will. i will get reaction from senator rick scott. all of that right after the break. ♪ another crazy day? of course—you're a cio in 2022. but you're ready.
2:22 pm
because you've got the next generation in global secure networking from comcast business, with fully integrated security solutions all in one place. so you're covered. on-premise and in the cloud. you can run things the way you want—your team, ours or a mix of both. with the nation's largest ip network. from the most innovative company. bring on today with unbeatable business solutions from comcast business. powering possibilities™. you know liberty mutual customizes your car insurance, so you only pay for what you need? oh, like how i customized this scarf? wow, first time? check out this backpack i made for marco. oh yeah? well, check out this tux. oh, nice. that'll go perfect with these.
2:23 pm
dude... those are so fire. [whines] only pay for what you need. ♪liberty. liberty. liberty. liberty.♪ new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit and get started today. lemons. lemons. lemons. the world is so full of lemons. when you become an expedia member, you can instantly start saving on your travels. so you can go and see all those lemons, for less.
2:24 pm
i'm greg, i'm 68 years old. i do motivational speaking in addition to the substitute teaching. i honestly feel that that's my calling-- to give back to younger people. i think most adults will start realizing that they don't recall things as quickly as they used to or they don't remember things as vividly as they once did. i've been taking prevagen for about three years now. people say to me periodically, "man, you've got a memory like an elephant." it's really, really helped me tremendously. prevagen. healthier brain. better life. meet jessica moore. jessica was born to care. she always had your back... like the time she spotted the neighbor kid, an approaching car, a puddle, and knew there was going to be a situation. ♪ ♪ ms. hogan's class? yeah, it's atlantis.
2:25 pm
nice. i don't think they had camels in atlantis. really? today she's a teammate at truist, the bank that starts with care when you start with care, you get a different kind of bank.
2:26 pm
♪. charles: esg, folks, it stands for environmental social governance. investors increasingly applying non financial factors as part of their analysis to identify material risk and growth opportunities. that is at least what the brochure says, right? you know i have been critical of the esg movement for couple years and predicting it could would be monumental rise in influence. it had to rise to level influence to as wage guilt and crimes of wealthiest countries and shareholders around the world where they want to show a greater say in everybody's lives. you have to build a buffer. to put it bluntly esg is the phoniest in the holier than thou movement. yesterday standard and poor kicked tesla out of esg index. i haven't bothered to read the reasons why.
2:27 pm
usual fakers feigning surprise, parts of tesla business we didn't know anything about. i talked about how you have to strip mine the entire planet if you want everybody to have a electric vehicle. that is not really news to professional investors, right? let's be honest. elon musk angered far left elitist establishment. they're on the warpath. bill gates put a huge short position on the stock. media, can't stop, hit piece, after hit piece. it has become routine. in the grand scheme of things i can't think of any company better, any company in the world should be part of a esg fund more than tesla. with respect to the why the alism of it all. in reality none of the companies on the list have clean hands. if you took a look at names on this list, considered, looked at it, from a cynic, skeptic point of you view apple. they built on defacto chinese slave laborer, overused workers
2:28 pm
jumping suicide on weekly basis. awful products on customers, for microsoft year after year. amazon, where do we begin? alphabet, google? single google search uses more energy than the power surge that triggered the new york 1977 blackout. coca-cola obese sy. mcdonald's obesity, around got a beef herd destroying the planet. nike? see apple. i'm sick of them weighing on this outside of their own business. notion of a public square scares the hell out of them. however next week at davos, when hundreds upon hundreds of gas guzzling descend on swiss town, opine on people should embrace things like not owning assets or why we should be eating bugs or other measures widen the gulf between them and their subjects. joining me to discuss republican senator rick scott of florida. senator, your colleague, senator sullivan introduced a bill,
2:29 pm
working on a bill, index act. it is looking to curb the power these giant investment firms have embracing es gr you on board with that. >> absolutely. i'm cosponsor. i want to thank senator sullivan for doing that. it is pretty simple if you're the investor you should vote the shares and you shouldn't have some index fund manager who doesn't have any money up, right? has no money up deciding your beliefs. they shouldn't be saying oh, you can't invest in oil and gas. you, anything like that. where they, they make the decision for you. the individual investor ought to be doing this, not these big index funds. charles: i'm really concerned about it. trillions of dollars already voted this way. they're destroying industries. they will be the maker and breaker of companies, industries around the world and there is something wrong with that. talk to you about conference board, we had danielle dimartino booth on a minute ago, the plunge was huge. ceos see confidence now, 60% of
2:30 pm
them expect conditions to get worse t was 23% last time we had this. you were a big time ceo. what is going through the minds of ceos right now? >> i think what should be going through their mind, one interest rates will continue to go up. two, the government will be a pain in the butt to do business with. whether it is taxes, fees, regulatory environment, permitting environment they will make it more difficult. so as a ceo what you do, you talk about how do you allocate your dollars every day. you will say to yourself, if i have this headwind of this government will make it more difficult to do business, i will slow down because i'm not sure i can get the return. i have an obligation to my shareholders, to my customers to make sure they don't waste money. they will very down the investment. it will hurt the economy. first quarter gdp was down, shocked everybody. you can see it this government with biden, they're making it more difficult for businesses all over the place. look at our energy prices. i mean secretary of energy granholm testified today.
2:31 pm
she said, we've done everything we could to have more oil and gas drilling. lie. that is not the truth at all. look at record prices because of this government. charles: yeah. it is just really is absolutely remarkable. i think we're going to really mess up this jobs market too. i think we'll see a lot of firing when there should be a lot of hiring. i have to of course ask you about all the heat you took for that economic plan. president biden tried to paint you as the face of the gop. but i do see commericals that are promoting it. what is really in the plan, why is it so important? >> i think we have to have a plan to rescue this country. this country is in trouble. look at, whether inflation, whether it's -- we have a food shortage for babies right now with formula in the united states of america? we have a completely open border. we have, our children being taught this is not the greatest nation ever. so it is real basic, one thing i want to do get people back to work. you ought to have skin in the game. means get a job if you're
2:32 pm
able-bodied, get a job. pay payroll taxes, buy something, pay payroll taxes own a home. that is what i want to get done. charles: president biden trying desperately to place the blame on inflation on anyone or anything they can. helping to promote elizabeth warren's price gouging bill. it is interesting, florida moderate, a democrat, stephanie murphy, i'm sure you know her, i have concerns about elements of the bill including vagueness of what is defined as price gouging as well as potential price controls would affect small businesses like the actual gas station owners. moments ago the house passed it, 217-207. all republicans opposed it. will it make it through the senate, more importantly, how crazy is this idea of blaming business for a problem that the white house can really address? >> this white house is like, acts like an ostrich. they stick their head in the sand and do nothing. they blame everybody else. this will not pass the senate.
2:33 pm
it is not good for the country. we don't need government to set prices f they set prices, what will happen you will have unbelievable shortages. that is what happens. government can't do this let the private sector work. we're a capitalist system it workings. we're the country in the world for capitalism. we have to keep it going. charles: appreciate everything. thank you very much for your time, senator. >> bye, charles. charles: why does the financial media want to dance on crypto's grave? more specifically why does "the wall street journal" want to dance on the grave of cryptocurrency? we're seeing a little bit of resolve here. maybe the cp effect will kick in. at some point you want to be a buyer. how do you go about it? we'll be right back. ♪.
2:34 pm
2:35 pm
2:36 pm
if you used shipgo this whole thing wouldn't be a thing. yeah, dad! i don't want to deal with this. oh, you brought your luggage to the airport. that's adorable. with shipgo shipping your luggage before you fly you'll never have to wait around here again. like ever.
2:37 pm
that can't be comfortable though. the smart, fast, easy way to travel. ♪. charles: all right, another wild
2:38 pm
session but look at that screen. i promised you the cp effect, it's going folks. it is going. stop tweeting me. it will happen. here is the thing, buyers are kicking tires, happened after we opened lower. big problem tires kicking them back. it is not a game for the faint of heart. there are folks looking beyond the near term. i believe there are buy and hold folks out there. that changes risk/reward calculus. two of the best, erin gibbs, kenny polcari. kenny, start with you, i probably phased this wrong, i had a guest on a block, took it personal, that i said he wanted to see more pain from the retail crowd. wall street needs to see more pain from the retail crowd. >> wherever it is coming from it needs to see more pain. the market wants, it wants real action honestly. the market is begging the fed to do something more drastic than hold the hand with 50 basis
2:39 pm
points. it wants to see something more drastic, it will shake it out and we move ahead. charles: every day, erin, i'm seeing something comparison to 87, like yesterday, this is the worst day for target since 87, most volatility since 2000, this hasn't happened since 2008. those are scary years. are we in any of those years now. >> one thing i was looking at is stock dispersion, that hasn't happened since 2008 and 2009. that means there is massive difference between winners and losers. it is a stock-pickers market. you have to be in exactly the right positions. we also haven't seen that since 2000. it crossed above 30%. it doesn't sound like a lot, but it means a lot when managing money which stocks to get into. it tends to last a couple years. so this does -- charles: on one hand this is good for your business in the sense, both of you, first of all you did the right thing. you either, you went to the safer names. i know you took, you got out of a lot of names. >> yep. charles: you saved your client a
2:40 pm
lot of money. this make as professional stock-picker worth their salt. >> well, it makes it a little harder. you can't buy and hold. you have to be active and selective. beabsolutely for those doing dep dive there are opportunities. >> right. moving into, we said it so many times, top quality value names. trying to eliminate some of that stuff that was exciting, sexy, all that stuff. it was back to basics move. i still think it is. >> i never thought i would recommend constellation brands. >> look names like ibn, johnson & johnson, coca-cola. they're big, boring, beautiful names in this environment. charles: here's the thing, warren buffett put about, he aaccumulated last 10 years, 20 billion, 140 billion. put $50 billion to work. does anyone want to implement warren buffett? do you you can buy something, forget if you're early, two
2:41 pm
years, six months from now, four years from now you will make a bunch of money? is anybody saying kenny, find me those ideas? >> i think they're always saying find me ideas. they're nervous. charles: i get it. i hate to, i sometimes i feel like if the guests come on they don't want to say hey buy now, market goes down, next time they come on they feel under pressure. there is something you feel you want to buy now even if it goes down near term? >> i buy on the weakness. i'm not chaising on up days, i don't chase it. on down days i add to the names we've been talking about, right? for me reflects my age, where i am on the risk scale. but there are big quality, dividend paying names. multinationals. charles: right, right. erin, recession. >> yep. charles: there is debate going on. jpmorgan said the market suggests we're 70% in recession. i think most people watching in their own personal lives we're in recession so forget the semantics.
2:42 pm
why is it important? what is difference between severe slump for recession and buying great stocks? >> what is interesting with jpmorgan, they said equity markets say 70%. debt markets are saying 30%. charles: okay. >> we've got the huge difference between which mark set says what. if you average them out it is 50/50 at this point. whether you're -- charles: is it important in the grand scheme of things? >> what is important is the equity market most of the pain has been priced in. 70%, so much higher means the slump is getting us ready. even if there is recession we're actually most of the way there. charles: right. >> there is lot less pain to go down than in the debt market. charles: changes risk/reward dynamic. >> exactly. >> risk is always being out of the market, right? these people, retail traders time the market, want to sell, want to buy, time the bottom, time the top. don't do that. don't do that. have a solid portfolio. know the names you own and why you own them and stick to the plan. charles: we have a brand new
2:43 pm
studio. >> gorgeous. charles: we also have a kitchen in the back. >> when does that happen? when does that happen? charles: bring the pots and pans. >> i will bring them next time i come up. >> if you do that we will build a kitchen. erin, kenny. thank you both very much. bitcoin got a little bit of a burns today. that is not stopping the journal. they declared this a failed experiment and more. wait until you hear anybody who bought it. oh, man. we'll be right back. ♪. your shipping manager left to “find themself.”
2:44 pm
leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit like pulsing, electric shocks, sharp, stabbing pains, or an intense burning sensation. what is this nightmare? it's how some people describe... shingles. a painful, blistering rash that could interrupt your life for weeks. forget social events and weekend getaways. if you've had chickenpox, the virus that causes shingles is already inside of you. if you're 50 years or older ask your doctor or pharmacist about shingles. >> the day you get your clearchoice dental implants makes every day... a "let's dig in" day... >> mm. >> ...a "chow down" day... a "take a big bite" day... a "perfectly delicious" day... >> mm. [ chuckles ] >> ...a "love my new teeth" day.
2:45 pm
because your clearchoice day is the day everything is back on the menu. a clearchoice day changes every day. schedule a free consultation. municipal bonds don't usually get the media coverage the stock market does. in fact, most people don't find them all that exciting.
2:46 pm
but, if you're looking for the potential for consistent income that's federally tax-free, now is an excellent time to consider municipal bonds from hennion & walsh. if you have at least 10,000 dollars to invest, call and talk with one of our bond specialists at 1-800-217-3217. we'll send you our exclusive bond guide, free. with details about how bonds can be an important part of your portfolio. hennion & walsh has specialized in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the country. they provide the potential for regular income...are federally tax-free... and have historically low risk. call today to request your free bond guide. 1-800-217-3217. that's 1-800-217-3217 as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile.
2:47 pm
flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network. with no line activation fees or term contracts... saving you up to $500 a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities.™ ♪. charles: as everyone knows crypto market taking it on the chin recently. of course the debacle with so-called stable coins, luna, tether. "wall street journal" op-ed really jumping on, really dancing on the grave of crypto investors claiming this meltdown exposed its hollowness of and notion of upholding true libertarianism and what they think bip nation. i want to bring in bit fury group ceo brian brooks. brian, you were actually mentioned also i think in this
2:48 pm
article. they're going after crypto believers, investors, basically calling them morons for investing in the coins. the focus is on stable coins but your thoughts overall? >> charles, first of all, i'm sitting here at stanford law school in advance of the big crypto conference i will speak at in a few minutes. i don't think people working on this are morons. frauds go on and in banking systems and nobody thought the systems were broken, right? things can happen. we can talk about who those are. realism of crypto and the underlying promise are real as they were. charles: to that point the article says 13 years to make the case and you have failed. it has failed. they talk about el salvador. they accepted but the few companies that are not actually doing any sales wit. has that been enough time, 13 years to prove all of the things that the people who believe in bitcoin and other cryptos say was possible? >> well, charles that is a great way of putting the question.
2:49 pm
so the way i would ask that question is, in the 13 years since bitcoin was invented what was bitcoin's total rate of return over that period compared to the rate of return in the s&p 500? the answer is that even at $30,000, which is way off its peak, the value of bitcoin has increased something like 10 times the amount of the s&p 500 has increased. that is from a standing start. the point is this, these are new technologies where new use cases are being built on top of them every day. obviously 13 years is a short amount of time to build a whole economy, right? it is much faster growth than anything else going on globally today. charles: when there is suggestion that mber should do a case study on this and take a look at the super bowl ads, the transaction fees, bitcoin conferences like one you will speak at, ipo commissions, program salaries, lobbying fees, amount of money spent on hawking crypto, then even add in the
2:50 pm
environmental damage that it has been an unmitigated disaster, how do you push back against that? >> well you know if i were still practicing law i would object to the form of the question. charles: [laughter] a lot of people are on the edge, right? a lot of folks want to buy into this. the article also talked about the poor, for instance. this caught my eye, i do know a lot of people in this country, around the world who feel like they can't get a piece of the action, right? their traditional economic systems that they're in and this is their salvation. should they still believe that's possible? >> well, i mean look, it depends if you thought we should have given up on the u.s. economy in 2008 when the stock market fell 70%. if you believe that was the end ever the economy and end of the story i guess the answer is yes. the way i look at it, we're not hawking crypto, we're building networks. crypto tokens are the assets that reflect the valid you of each of the networks we're
2:51 pm
building. some of those will fail same way a lot of internet companies that failed. in america we used to be comfortable with companies going bankrupt. info visioner and wealth creation demands that. some companies will fail, that have 20 years from now have fundamental value. charles: i am for what it is worth i'm still on your side, i have bitcoin and will buy more. i'm glad you came on to defend the other side of the argument. good luck at the conference. >> good luck, charles. good to see you. charles: two more companies pulled plans to go public. initial public offerings have been abysmal performance, ipos and spacs are haunting the industry. there is a niche that is doing great. small deals, 50 million or less, are 62% of the offerings this year. my next guest is superstar of capital, game-changer award at the clio conference we have
2:52 pm
sarah kuhntz. first congratulations about the award. first let me, you know i've been frustrated with what happened with these ipos. i think they were deadly. what's the feeling in the industry about maybe adjusting things, coming to market sooner, lower valuations, something that makes it more fair to the public when they buy, once they go public? >> you're not going to like this answer but i don't think we'll see that happen anytime super soon in tech because the reality is venture capital investors, have a ton of money, billions of dollars they raised over the last few years, historic amounts of money they need to put to work in these startups. the story that it will be easier to continue to raise higher valuations from venture capitalists than go public earlier, beholden to the public, make me money, make me a profit.
2:53 pm
vcs don't make you make a profit. charles: i checked. you have 44 flames in your portfolio. i was checking around the website, i saw the tab, the pitch tab. i was curious. one question really stood out to me, what does your company do in two sentences or less? does that all it takes, if i wowed you with two sentences you hook me up with some cash? >> if you can tell me what you're doing in two sentences i think from that two sentences i think you're building a multibillion-dollar business i want to hear more. the reality people cannot condense what they do that succinctly. they're not sure what they do yet. i love a good "elevator pitch." charles: i do too. the award, tell us about the award. >> yeah, i was super honored to be called a game-changer by reverend jesse jackson's push coalition. it is a testament to the work i've been doing in venture capital and start-ups, making sure we're funding the best and
2:54 pm
the brightest of everybody all over the country, all races and genders. so it was a huge honor. charles: it was a huge honor. glad you came on the show. and i appreciate your honesty. no i didn't like the answer. i see you real soon again i hope. obviously it has been a scary time for investors but this selloff is really a gift. get ready to put together a buy list. i will take you to the school of stocks next. ♪ ...
2:55 pm
at adp, we use data-driven insights to design hr solutions to provide flexible pay options and greater workforce visibility today, so you can have more success tomorrow. ♪ one thing leads to another, yeah, yeah ♪ i have moderate to severe ulcerative colitis. so i'm taking zeposia, a once-daily pill. because i won't let uc stop me from being me. zeposia can help people with uc achieve and maintain remission. and it's the first and only s1p receptor modulator approved for uc. don't take zeposia if you've had a heart attack, chest pain, stroke or mini-stroke, heart failure in the last 6 months, irregular or abnormal heartbeat not corrected by a pacemaker, if you have untreated severe breathing problems during your sleep, or if you take medicines called maois. zeposia may cause serious side effects including infections
2:56 pm
that can be life-threatening and cause death, slow heart rate, liver or breathing problems, increased blood pressure, macular edema, and swelling and narrowing of the brain's blood vessels. though unlikely, a risk of pml--a rare, serious, potentially fatal brain infection--cannot be ruled out. tell your doctor about all your medical conditions, medications, or if you are or plan to become pregnant. if you can become pregnant, use birth control during treatment and for 3 months after you stop taking zeposia. don't let uc stop you from doing you. ask your doctor about once-daily zeposia.
2:57 pm
you'll always remember buying your first car. and buying your starter home. or whatever this is. but the things that last a lifetime like happiness, love and confidence... you can't buy those.
2:58 pm
but you can invest in them. we believe that your investments should work harder for the future you imagine. and that's where our strategic investing approach can help. t. rowe price. invest with confidence. charles: the market in turmoil, and well of course, you're frustrated. now these are hard lessons being learned right now but i have to tell you it's hard to avoid them also, really, so don't feel bad and by the way i'm here to help. welcome to the school of stock. first i want everyone to know that a, i consider myself to be a student of the market even though i've been at this for more than 30 years and b, this is not financial advice. i'm sharing my thoughts and experiences with you. now you often hear about buying the dip, or sticking with the winner, stick with quality, right? i mean, it sounds cliche, it's obviously sounds too easy.
2:59 pm
now because of this violent sell-off, i think you've got an opportunity here. great stocks are getting clobber ed along with the junk and the timing could not be perfect because i know a lot of people want to put money to work here is the thing. we're at the end of earnings season so you've had weeks and weeks and seen these companies report, the ones that have had great results strong guidance and most important, the most important thing, the street loved it, right? these stocks went higher. there was a lot of ways, of course that you can make a potential buy list. this is one way that i think you can go about it i'll share my notes from april 27. these are names that popped, because of earnings, so i monitored the pop, and then i start to add them to a potential buy-watch list. while i'm deciding if i want to buy them or not i learn more about the fundamentals, and then i put in certain triggers maybe it's volume, maybe it's something else, whatever it is, i keep watching these names, and then i understand when i want to buy them. you can do this. i mean, for me it's actually a whole lot more fun to fantasy football and it's a whole lot more profitable. of course, make sure you can
3:00 pm
reach our own handwriting sometimes i can't even read what the heck i wrote but when i can it's great. some of the names i think are going to be giant winners in fact n-phase is in the top 3 percentage gainers alone. folks i'll leave it here i promise you the cp effects giving cheryl casone a little bit of momentum, cheryl what are you going to do with it? >> hopefully not what we did yesterday with it, charles. the bull bulls are at this point making a frantic final hour charge after yesterday's massive sell-off that we were just talking about. the dow, remember, bringing up its ninth biggest point loss in history. the s&p 500 and the nasdaq down as many as 473 points earlier now the dow is just down by six points at one point it was only down three. i say only because that's a very trish regan for today and the dow just went positive. s&p right now is up by 11 points nasdaq is up 96,


info Stream Only

Uploaded by TV Archive on