colleagues on local level. teachers union, believe it or not we joined to sue to stop this because they have violated federal law. we believe we have a case here to stop it. but again, another tax. another cash grab. there is war on cars. that is what this is about. trying to get more money from people and get people out of their cars. brian: great point. thank you for your time. thanks for being with us. taylor: quickly we're trying to close in on s&p 500 highs. we have to close up 58 point. we're up 41. nvidia's big conference kicking off today. a big keynote speech in couple hours. brian: we'll watch it very closely. who else is watching it closely, charles payne. he wants to make money. charles: hope you had a great weekend. good afternoon, everyone, this is "making money," i'm charles payne. excuse me while i kiss the sky. they call it a.i. of woodstock,

or woodstock of a.i. now it is the ance absolute biggest event in technology because let's face it, it moves the economy and it moves stocks. investors now eagerly awaiting the ceo's keynote speech. we'll discuss that a little later in the show. more wall street strategists telling investors don't worry about high stock valuation. go out there find some growth. just shut up and buy. art laffer for fed chair? i have a exclusive interview with the author of reaganomics. he is on the short list. ibm mania could hit a fever pitch. it is about reddit. they come public on thursday. dictionary.com has valuation. it has a lot of people worried including me. all that and more on "making money". ♪. charles: all right, we discussed it last week, right, the a.i.

woodstock evented. it begins today and thus far it is living up to the hype, folks. they're hearing from visionaries, 300,000 developers and different folks, over four days, major news. updated developments. all hosted by who i think will be the most important man in technology, leapfrogging elon musk and probably, climbing up to levels last seen by steve jobs. i talk about the ceo a little bit later. here's the thing. it is all about a.i. it is not just hype. although here is the interesting hype. transcripts of companies over the last year when companies report their earnings, of course everybody has a conference call. during the conference call the term a.i., you go back here, bam, chat gdp, it comes to the scene. it absolutely explodes. everyone finds a way to mention a.i. now here barely mentions metaverse, blockchain, augustmented reality very, very small. it is all about artificial intelligence. well why?

because it works. look at the difference in the past year those companies that cited a.i. during their earnings calls they're up an average of 29%, their stocks. if you're still up, that's okay. that is a big difference in your portfolio. here is the thing, more analysts and more strategists are saying hey, you should be chasing growth. here is the problem, we always talk about the mag-7, they're not all growing at the same time, in fact some are not froing at all. the mag-7, on this side we have the growth numbers. on this side we have the p-e ratio. starting with tesla. tesla today was downgraded. they got 190-dollar price target at goldman sachs from 220. that stock's done. you have a stock with extraordinarily high p-e ratio, it is not making money, it is not growing. conversely nvidia got two upgrades, $177 a share, the other for $1050 a share. everyone still jumping on the

nvidia bandwagon. meta was the top pick, top pick at mizuho. everyone loves meta, everyone loves nvidia. beginning to be the magnificent two. the others have been around a long time. they have to find ways to refresh themselves. apple is in talk vice versa with alphabet. apple is in talk with microsoft about the same thing. i heard nothing today at all about amazon. the bottom line these stocks are not the same. so do you chase them or not? let's bring in kaltbaum capital management president, fox business contributor gary kaltbaum. gary, you made investors a ton of money. you caught the breakout on a lot of names. i know you cashed in your chips. are you waiting for a dip? are you cashing in on these names? >> i'm more patient now. i don't believe in targets. i believe in the market, what it is doing. on march 8, you had a big

exhaustion reversal on gargantuan volume in the semiconductors. i say that mark ad high for now. i don't know how it will be, right now they're underdistribution even today with all this going on, all this you showed, smci, argue much stronger than nvidia, it is down 100. nvidia opened up 45, down five right now. i think institutions are selling a little bit into it. i don't see any disasters. i will be patient right now. let it settle down. it is too much of a whipsaw here and if things continue to be great they will get going again but right now i'm less inclined. again we made some really good cheese over just a two month period which was absolutely crazy. charles: right. gary let's use it as a teaching moment. let's talk about the semiconductors. i have a 10-day chart here. this is a one-month chart. you talked about this huge reversal with big volume. this is the smh chart. you can see it was going up

every single day, folks, every single day. then you had this one session where it opened higher, closed much lower on gargantuan volume. does that maybe the smart money was selling it to the crowd? >> exactly. charles, we have studied every bull and bear market going to the beginning of time. what we do we look for extreme characteristics that show up at tops and bottoms. at bottoms everybody is depressed. i went to the bank i pulled out a ton of cash because i was worried about the financial system. now i'm getting calls from people that i don't even know. should i buy crypto after it has gone vertical, what do you think of nvidia here up 90%? you have to be careful about that. march 8 reminded me of a few times we've seen in the past just marked a high for now. it doesn't have to be the death knell but so far we've been correct in it. it has been in pullback mode. we'll see where it decides to take us. charles: let me jump to gold for a moment because this is

something that's on your radar. you've been talking about. a few more people are talking. again technical analysis is your friend, folks. that is a breakout. resistance it came down. resistance it came down. resistance it came down. resistance it broke out and tested this resistance. this looked like a real ault then tick breakout. where do you think are gold can go here. >> this is not just one year, this is multiyear breakout. the one weird thing normally bull markets for gold the stocks will definitely outperform the metal but the stocks have been terrible for years but all you can tell you the gld, that is the best etf or phys, the gld broke above 193, 194. don't expect it to be like crypto as far as movement but so far so good. i think pullbacks are preferable, 196, 197. can't garrity you will get it t looks higher. how much higher i don't know. it will depend, put it this way

i don't even depend on inflation anymore when we had the big inflation gold did nothing. all i can tell you as long as it sticks, i think it has opportunity. pullbacks are preferable. i can't promise them but so far so good. charles: so far so good. thank you for having you on the show, gary, kicking off the week right. thanks, my man. >> thank you, charles. charles: this is a self-described tech girl, been ahead of the street so many tech names. bunker capital, founder, kim forrest. kim, i just got to start with you. i have got "the magnificent seven" up but again, again trying to explain to the audience, here is your p-e ratios. you have got tesla which has the highest p-e ratio, the lowest growth right now of all of them, that's fallen out of favor. nvidia got two upgrades today, the other one is sort of muddling around so far. are you in these right now? are you looking to buy them? what are you doing? >> well we don't really like to

try to play the game of catchup, we never have. i will put a stake in the ground to say we never will. that being said i think "the magnificent seven" can tell you a lot about where the growth is and there's two letters that say that, a.i. a.i. is the growth engine as you open up your show talking about that and it's very difficult to buy stocks that are delivering it so nvidia seems to be the only one investor know about at least right now and that's why it is so hot. charles: right. of course nvidia, gary is pointing out today, a lot of time these big events can be times when the smart money eases out. it is way off the highs of the day, but again the keynote is still coming up. i know there is a stock you like, synopsys. full disclosure, my subscribers are long the stock. i'm in there with you but tell the audience why you like the stock here. >> sure. a lot of it has to do with a.i. while investors might love

nvidia i'm not sure everybody who is trying to build out the a.i. machinery loves it because their prices are so high. so there's a lot of other companies that are trying tops h is one of the reasons why we like synopsys. it's a company that helps engineers design chips and that is in hot demand and you can see it in its chart. charles: yeah. >> it has been growing for the past three years because demand for new chips have been growing. it's pretty easy there. charles: right. by the way, audience, here you have relative strength is right in the middle of the range. a lot of room on the upside there. rate of change i would like to see it go up but that chart is beautiful. you don't have to be a technician to see it has a whole lot of momentum going for it. kim, talk a about a whole lot of stocks that you like. get away from tech. urban outfitters, used to be hot, my son took me there 15 years ago, a lot of those names,

abercrombie & fitch through the roof. number one stock. i'm in gap stores. that is doing very well. urban outfitters is coming back? >> i think so. they have three strong brands, free people, an throw apology and urban outfitters. two of the three are on fire. we think change in the executive suite will bring back urban outfitters so we are looking at that, because we believe in growth stocks but they may not be "the magnificent seven" but as long as there's growth in them investors will find them. charles: so 3 in, i don't know where to categorize this. this is a name that has had very bad execution. they miss earnings on and off almost every quarter. there is some accumulation. seems to me the ultimate value play here. >> well i think the only reason why value ever is a success as a strategy is because you buy the stocks before they grow, right? charles: right. >> so we're looking at 3m.

looking what they have as products. looking at the sectors that they sell into and we think that the company has some good bones but needed some help and it looks like the new management at the top may be able to drive that growth. that's what we're looking for is renewed growth. charles: all right. i love the fact that both of these names you talked about management. always management, management, management and it's amazing how some of these companies have fallen off when they get the right people back in there these stocks come way back. kim, thank you very much, appreciate it. >> thank you. charles: all right, folks my next guest says it's time to take profits on some of the bigger tech names but guess what? there's a lot of opportunity out there. eva out toes is with us. she has the steps you need to take. she outlined the whole year. you have never seen anything like this! she is my next guest. ♪

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her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we got him under a new plan. but then they unexpectedly unraveled their "price lock" guarantee. which has made him, a bit... unruly. you called yourself the "un-carrier". you sing about "price lock" on those commercials. "the price lock, the price lock..." so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. okay, that's uncalled for. charles: so my next guest guest has laid out a quarter by quarter investing roadmap for 2024. i want to bring in entrepreneur

share, llc, ceo eva awed dose. this -- eve ados. this is so impressive. you have to have confidence in your work to do this. walk us through it. >> hi level,. charles: okay. >> there is major issue in the market right now, the 1000 qs major indices are highly con straighted in "the magnificent seven." charles: right. >> 52% of growth is in the "magnificent seven." when they go up that's fine, but what they go down that's not fine. it is a big issue, legal exposure that fiduciaries have. we work with our institutional partner and we crafted a strategy. what we did we have no apple, no tesla, no microsoft, very little amazon and last year we beat the russell 1000 growth by -- charles: without those names? >> without those names. charles: that's amazing. >> i think fiduciaries have to start coming up with a

innovative, creative solutions to deal with this issue so first charles: so first quarter, a.i. is maxed out, valuations are stretched, people should take profits looking to shift in the second quarter strategy, you're looking at profitability is important to you? >> exactly. so now we've seen that rates are coming up. we've also seen that "magnificent seven" and other megacaps have come up significantly. so we're concerned about valuations. we favor profitability overgrowth. so we're taking some profits out from companies that have appreciated a lot and we're moving into reducing some health care -- charles: reducing information tech but still focused on larger cap names. >> moving up, moving up in market capitalization because that is a shorter duration type of strategy and as we move to the third quarter because -- charles: get first rate cut from the fed. >> we hope. we'll see. charles: this is crazy, back to growth.

>> back to growth. charles: this is the trigger back to growth. >> we're going back to here. increasing health care. reducing i.t. sorry, increasing i.t. and going down in market capitalization. charles: starting on the small caps, nibbling at small caps here. >> increasing our exposure to higher growth companies. charles: fourth quarter. >> as we go to the fourth quarter, that's going to be reminiscent of q4 of 2023. now we might see two rate cuts, right? that is great news. hyper-growth will outperform other categories, against smaller capitalization will outperform. longer duration. charles: i like this part here, more speculative. fed is a accommodative. more people, this fourth quarter could be lit. could be really a lot of money made there. let's talk more specifically. let's grind it down here, some of the long ideas, you have technology here but not "the magnificent seven." >> okay so these are not "the magnificent seven." this time i'm not speaking about nvidia or smci.

i'm talking we're loving app loving this is beloved among developers. it helps them connect with their crowd. so this is a company that is taking away market shares from other famous competitors which is one of the biggest ways disruptive funds we all know about it. 400% up last year. unit software. only negative 5% last year this is a major winner. charles: i'm so frustrated to tell you we took profits two weeks ago. i have to look at it. you remember maclovin i'm off the subject. >> this is overweight. all of them are actually. shock wave, it breaking out up plaque within your arteries this is great solution as the global population is aging. they target that market. charles: right. >> they grew revenues by 70 times last five years revenue

growth is 50%. >> wow. >> competition is losing money actually. that is another overweight for us. charles: and oracle is back? >> oracle is back, the reason we go back to q2 strategy, what we're favoring here highly profitable companies with 11 billion in profits. on valuation basis they're 30% better than their peers in enterprise value and revenue t has always been a cash flow player. charles: right. >> you see today they're third after nvidia and meta. more investors are shifting from "the magnificent seven" into oracle. charles: great stuff, great, great stuff. i love it, thank you, eva. >> thank you. charles: folks if donald trump wins who do you think will be the fed chair? you know what, tweet me cvpayne. i would love to hear you who you think. i can tell you who is on the short list, art laffer. i can also tell you he is with me after this.

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>> so over the weekend "the washington post" posted an article shipped out to all its subscribers. it was really interesting because is said the stunning recovery, u.s., stunning, i was like stunning? madison alworth is looking into the charts that accompanied that article. >> reporter: charles, that's right. they pushed out these 11 charts

they showed how covid changed the u.s. economy and created quote, miraculous recovery that is the envy of the world. what is odd only two of the 11 charts that they pushed out actually show progress in the positive. so taking a look at those, the two that they pushed show some good improvements are unemployment rates which is great. you take a look at that here. it is consistently low. in fact it is the lowest stretch we've seen in 60 years. the second thing, average price of homes, you've seen them shoot up. that is incredible value for homeowners. this is just two charts though. like i said, there were 11 that were push the out. these other ones don't paint a strong economic picture. so taking a look first, weekly earnings after inflation, we're still seeing some struggles there then when you take a look at personal savings, that's such an important factor there you see how low it is here. obviously savings went up during the pandemic. everyone was forced to stay home, not spend their money.

now personal savings are way down. what's worse, they are below where they were in 2019. one thing to say they have come down from their highs but they're still below the 2019 level. credit card loans not moving in the right direction. that continues to skyrocket. household debt in large, that hit a record $17.5 trillion at the end of 2023. then this last chart, i wanted to include this here, something i hear all the time when i'm out in the field reporting talking to every day americans, prices for food at home, that's way up. grocery prices, they are up 25% over the last four years. so, now this article, it mentions that consumer sentiment which is still below where it was when president biden took office, that's increased, it's improving but there is an interesting development there. you take a look at current economic conditions and expectations. it improved for both democrats

and republicans but the sector that has not seen improvement, that is independent voters. they continue to have sentiment move down, 71 to 61, 77 to 69. that is such an important part of the voting bloc to have independents not have an improvement in their sentiment. now right now, most economists they say, the economy is slowing. as for the gains that we have seen, the problem is, they're squashed by inflation. you take a look at household wealth, nominal versus real under president trump, president biden, this real number, that is the strength for household wealth, it doesn't paint the best picture. charles? charles: it really doesn't. you can campaign on nominal growth if you want but people live in the real world. madison, great stuff. thank you very much. folks turns out my next guest was one of the architects of that prosperity boom madison showed you under president trump. joining me, founder chairman of laffer associates, art laffer. of course i have to begin with

this huge story. apparently you're one of three economic advisors being considered for fed chair should trump win. your thoughts on that? >> yikes, yikes, no, thank you. it is very flattering but let me just tell you that president trump, when he is elected, take office in january of 2025, then el have to wait a year-and-a-half before the fed chairmanship comes up to make an appointment. i will be a little older than methuslah, 9686 years old. i think that is too old to be fed chairman. i'm flattered my name was chairman, if that is really nice. if they had done it 20 years ago, whoo-hoo. that doesn't make any sense. thank you very much for the nice stories, lovely things, my grandchildren, great grandchildren love the stories, charles. it is very nice, very flattering. no, that is not going to happen. charles: they should love the

story, i got goose bumps thinking about it. it is fantastic stuff. >> i did too. i did too. charles: is there any names -- a lot of friends you may not want to offend anyone but any names standing out to you? >> there are tons of names standing out to me. it is 2 1/2 years before trump will be able to do that appointment, not quite two and a quarter years. there is lot of changes to take place. idle speculation. kevin warsh, kevin hassett. great names. john taylor. what a wonderful person. larry kudlow, who knows. larry could be the person. steve forbes, fantastic, steve would be a great fed chairman. there are all these wonderful people who would be in the running, in the mix. waller is one of the fed members now, he is also pretty good. charles: right. >> we have a long way to go before any decisions but isn't it fun talking about them? isn't it fun whispering the names. did you hear about this one?

he might be -- that is what is so wonderful about politics. if you don't enjoy it, it will kill you. it will just make you crazy but when you get into these rumor mills and stuff it really gets exciting, fun and thrilling. i'm glad they're doing those types of stories. charles: talk about something not too far away. that is the next fed meeting. >> okay. charles: if you were on the fomc right now would you be looking to cut-rates sometime soon? >> you know i wouldn't be cutting rates at all to be honest. i let markets drive rates. i wouldn't drive them. as i talked about lots of times the fed should be controlling its balance sheet and only it's balance sheet. it should be shrinking its balance sheet steadily stably. shrinking wiggles. bottom line they should get their balance sheet, way, way down to where they don't make the markets and the fed making the markets is the antithesis what paul volcker did, alan

greenspan, difference what martin did, they are great fed chairman, controlled it, following the markets, not leading them. leading the markets when you're not well-educated doesn't make much sense. this fed is not. well, should go further but goodness. charles: art, let me just -- >> sorry. charles: you talked about the role of the fed vis-a-vis the markets you know out today senators warren, senators warren and sanders openly pressuring the federal reserve to cut rates. my concern is that there is going to be an administration one day that does push this fed to become extraordinarily political. the ideology i'm concerned about are things like esg, those sort of things. they have too much on their plate to begin with. >> they do, way too much. charles: senators out there telling the fed what to do two days before a meeting? >> it's crazy. it's not crazy. of course they do that, they're political. that is what they want the fed to be, they want the fed to

reignite and push their political agenda which not the right thing to do. prior to the u.s. government getting involved in the money supply and money, before 1913 the setup of the fed prices had been stable for almost two centuries. the government did not control the quantity of money. they deprived dollar at 1/20-ounce of gold. also silver. they also minted coins, charles. everyone else minted coins too. the money supply were bank notes, not federal reserve, there was a private banking system that kept price stability. since they took it over price level has gone up 30 fold. look what they have done, the dollar is collapsing everywhere against goods and services. it is collapsing against gold. it is a classic when the government gets their hands on a product they ruin its quality, ruin its availability and this is exactly what they're doing right now. it is a tragic shame. charles: art, i have got 30 seconds, let me slip this in

because president trump used the word bloodbath over the weekend. media took it, used it for something else that was really awful. the main point he was trying to make, i think we need to pay attention to, china is trying to get around all these sort of barriers, putting a lot of manufacturing or production or assembly to mexico. he is concerned that they're going to flood our markets. already today byd, another chinese auto ev maker lowered their prices. they will have the cheap evs, flood america, put american automakers out of business. isn't that a legitimate concern? >> well it is legitimate concern. i watched this whole speech carefully. and when he only referred to bloodbath with regard to imports of autos and in that industry. you're right they misinterpreted. every other station did i watched them a lot too to see what they say it is just incorrect. what trump is talking about is having a level playing field and trade.

charles: sure. >> that is what he like to have. that makes perfect sense to me. i thought he did a great job when he was president on trade. i thought he was pro-free trade. he wanted good deals done with other countries to get free trade. north american agreement which was darn good, south korea. all these things he did when he was in i thought were really good and i thought they were pro-free trade, pro-business, pro-america all the way. i couldn't be more happy with him than i was. charles: ask any american, we're all for fair around free trade, right? we want it to be fair. we don't want to be stomach about this because we have been in the past. >> except in nuclear weapons. i don't want to sell foreigners nuclear weapons. i draw my line there. thank you, charles. charles: that is whole different topic. thank you, you deserve the accolades. you really do. >> thank you, charles. charles: a.i. isn't the only area really ripe for investment opportunity. kevin mahn says there are other areas even within technology but outside of it. he has some picks to share right

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too soon, not the least of which, loose financial conditions. remember the fed wanted financessal conditions to be tougher and harder. they have come down, really come down really dramatically. you can argue this is defacto rate cut maybe too. i want to bring in henion and walsh asset management president kevin mahn. kevin, i remember going back last year, jay powell saying financial conditions are moving up. he knew that is one of the markers everyone was looking at. now they kind of look the other way. this is what i expected when we started embarking on the greatest rate hiking endeavor in fed history. >> this is consequence of all the fed moves. this year they're forecasting real gdp growth to slow to 1.4%. i believe economic growth will translate into slower earnings. consumers will have to shift from spending to service all

their outstanding debt f they shift to servicing as opposed to spending, the economy will slow further and the fed will have to step in to cut rates. charles: 10-year investment themes. at the very top is your economic slowdown you talked about. there is a whole lot of other things. before we go you there the whole lift i have to get straight to 60/40 portfolio. i did this story a lot in 2022 and a little more in 2023. i was wondering if it was dead. you're saying it is still alive. >> i don't think it ever died. there is arbitrary allocation as much as 70/30 are, or 80/20 mix. charles: you do it based upon age? >> based on risk tolerance. moderate growth investor you want some allocation to stock and allocation to bonds. now if we look ahead over the next two years when the fed should be cutting rates up to 250 basis points, guess what will do well? both stocks and bonds and 60/40

should come back to life again. charles: but that bond part is a little stick -- sticky. we're not as well as we thought this year. >> yes. charles: if we stay too high too long there is rock and hard place. jay powell said i will not be arthur burns. i which not cut prematurely. >> yes. charles: therefore the insinuation i would rather stay high for too long than to cut prematurely. >> even if they cut-rates three times for sole of 75 basis points, as their dot plot suggests interest rates will be at 17-year high. interest rates will be higher for longer. hopefully not as high as they are. that will push a overleveraged u.s. consumer into default situations. that will slow down the economy further and we start talking about recessions. >> still given their druthers, two equal sets of risk, cutting too soon, remaining too high, they will stick with remaining too high. >> until at least july. they have to see two consecutive

quarters of slowdown before getting interest rates. i still think we will get three interest rate cuts this year. charles: we look at some of your investment ideas. everyone is kind of familiar with microsoft. lily is big time with the weight-loss drug. what is rythym. >> this is the another area to play the obesity drug euphoria. $2.4 billion microcap or at least small cap if you will biotech company in all likely could get acquired by large pharmaceutical companies. lily on the other hand is over there with their obesity drug but they have also treatments in areas such as cancer, immunology and alzheimer's they're developing. i this that i is good strong name for the future. charles: could be wonderful if we get a real alzheimer's break through. i still think it is the plaque. everyone knows it is microsoft. the growth is slow compared to nvidia. why is it a buy now?

>> a.i. is the tail wagging the stock market dog this year if you will. microsoft is good way to play a.i. they will be ultimate winner in the a.i. race. this there will be a multiple winners in the software and hardware. microsoft stands at top of that list. charles: great stuff. >> thank you charles. charles: i have wonderful news i will share, you will host a townhall april 24th, 2:00 p.m. eastern, "unbreakable investors," a special. we'll walk you through what i call through an era of emotions, high emotions, high expectations shared by an ear despair. last time we saw anything like this was in the 1800s. come join me in new york city. we'll have an amazing time. it has been standing room only. get your tickets right now. eventbrite.com, the tickets are free. i can't wait to see you. >> going public, folks, we have a business boom in this country.

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charles: everybody wants to be the boss, look at this line those are your business applications it's absolutely gone crazy since 2020 on a small part we don't know how many have become businesses because they haven't given us an update since 2021 but the bottom line americans are more entrepreneurial than ever those who are leaning that way i gotta tell you very few sources that are better cody sanchez who is the founder i want to bring you want so much to talk about mva skipping big firms like goldman back in 2015 and the consulting firms and buying small company, what is the emphasis of this.

>> fascinating receive more people than ever turned down $300,000 jobs and by plumbing companies which is something i did not think i would hear. interesting things are happening first of all a tailwind of startups being the sexy thing in the unicorn and now they're starting to show that some of these people were swimming without shorts on the second thing is a lot of people these day want a way out of systemic risks we did to hundreds of businesses and owners and buyers and what they said if they could decrease the risk by getting loans from the government with sba abide a profitable business they think that might have less risk than mckinsey or deloitte or save jobs i think 270,000 layoffs. >> the small businesses are expecting, they're bracing for the u.s. economy to stumble but

all businesses are going to be okay and improve is not wishful thinking or they have control of their business basically in the survey we saw that their profits are down and they think the economy is worse off than their individual small business. i think what is happening they are watching news and there watching a lot of people talk about all the bad things in the world and not talk about upside and it goes to what you guys talked about high emotional narrative low numerical truth, what is happening today i think the small business owners are saying this is in my spirit of control a regional politics we like or regional politicians better in the regional business is better than the overall economy. >> if you as 99% of americans say throw them out except my bum then we end up with the bombs, less than a minute to go the

silver tsunami were talking about the greatest wealth transfer in history a lot of that is going to be business. >> that's exactly right 11-point to million small businesses sale right now were starting to see the vc dollars to come into fund companies in the space but i will tell you last week to small business owners were going to shut down the small business because they didn't want to keep writing it and i think there's a huge disconnect if people want to sell never closure business somebody out there wants to buy it and businesses are more expensive ever than small business than before 30% up don't closure small business, solid. >> i agree i saw this 20 years ago, mobile alabama i'm in the car talking to the guy driving and i'm like you have great food what is up with the soul food and he said they sold them to the chinese for big money and that was 20 years ago, thank you

so much i could talk to you forever but we have to hop. from startups eventually you want an ipo this is a public offering from every entrepreneur you want to take the baby public and bring the register the spring and director sarah, the ipo everybody is talking about is read it. what is the latest. >> is oversubscribed 500%, that is a lot and you're not going to be laughing. if it pops on ipo it means once again the people that got in early were able to make the money in the retail investors are making a little bit less. >> 500 times, remember facebook they rework the numbers and offers more series at a higher price and more series at a higher price, do you hear them now say maybe we lift the offering and maybe we increase ipo number, that is 500 times.

>> will see what they do if they're going to list in the near-term there down to the wire on that the other interesting piece we don't have a great sense of how much the insider availability that was made available to the moderators and how many decided to buy, there so? this is an unusual ipo and i think the next couple of days those answers will come fast and furious. charles: 50 when should understand that the american public in the american investor has been ripped off the folks that did read it and that might mean leaving some money on the table for other people. i'm still skeptical and that's putting it mildly, this is the reason why skepticism doesn't go away encyclopedia saying that they have a billion-dollar evaluation i have some encyclopedias, what are they doing i don't know about a billion-dollar evaluation. >> the encyclopedia that is a

booming web business that is the content business and they're able to sell ads and monetize that way and they still have a huge briand ownership so it's a? of how well the public market would like that but certainly every single person is familiar with encyclopedia britannica and that's not necessarily the case for the names and feel like household names like the reddest of the world. charles: i grew up with to set the adult set that is gold and big and off-limits to the kids. when i got to high school they let me use the big ones. one minute to go nvidia dtc conference is in full swing ceo is a combination, elon musk, steve jobs is going to become universally known, my 11-year-old granddaughter had class in they had to talk about tech and bounders, she ended up

with larry page, this guy is huge tell me your opinion the company and the stock. >> i will say by jensen by all accounts is a much nicer saner human then steve or elon. it's nice to see a nice guy w when. it's a solid company and he's a good leader he's been doing it for a very long time and i think the stock is red-hot and can easily burn you not necessarily a name i'm buying into but it's a solid company. >> i know you like to get them a little bit cheaper, thank you so much always appreciate your expertise on all of these things. this program is already started the woodstock a.i., jensen is going to speak real soon you have the next hour liz claman is back. >> we will be over the headlines, thank you here we go on this monday after three weeks of losses for the dow in two weeks for the s&p and the nasdaq, the grab the