took the gloves often on the fed and so did anthony scaramucci and your colleagues, and we've had quite a bit of press coverage of this. and, look, we're fighting. the state of wyoming joined us and, unfortunately, the federal judges concluded the federal reserve is more powerful than one of the united states' states. and and so we'll see what, what comes. we don't have an announcement yet, but we are far from done. we are, like i said, on the front lines fighting this debanking by politicized federal bank regulators and handing the federal reserve unfettered discretion not just to deny an applicant, but to close an existing bank's account and deny them's access to the u.s. dollar system. charles: right. we've got to leave it there, k5eu9 lin. thank you for keeping us informed. liz claman, over to you. liz: ca charles, thank you. three breaking news headlines dunking the markets into the red and forcing a spike if in

volatility. if folks as we kick off the final hour of trade, we've got the dow adding 430 points of losses to yesterday's 240-point drop. s&p is down 47. we've got the nasdaq lower by 194. russell 2000 down 44 points. that is the worst percentage drop here of all of the majors, more than 2% down. and we show the vix? we've got to look at the vix, because right now, as you see, you've got the volatility index up 7.7% right now which means we have seen a 2-day move that began sort of later in the session, and we've got that, i believe it's about 13% higher over the past 48 hours. right now we're at 14.71, still historically very low. headline number two, the stock stories shaking the markets most, humana is the worst performer on the s&p. right now we've got it tanking about 13%. updated word from the government

that the new 2025 reimbursement rates for medicare advantage payments will remain unchanged at 3.7% despite massive pressure from the sector's lobby is. humana, which has the most exposure to medicare payments, is plunging to the a 4-year low. rival united health care, well, that's getting clobbered as well. it is the ugliest stock on the dow 30 heat map, and you can see it at the very bottom there for unh. and it's not a surprise because it too masks exposure to d has exposure to, of course, the medicare reimbursement payments. yo -- you're looking at about a 6.5% loss right now for united health care. and with the government making it clear it is committed to keeping costs in check, the news is cratering pretty much the whole sector. aetna parent cvs is down 7.5% and seventeen down just under 3% basically on fierce insures' margins will be compressed.

worst performer on the nasdaq 100, it is tesla. one of the exv mistake -- maker's demanding the board of directors be replaced immediately with independent directors after the ev makerrer released its first quarter production and delivery numbers that sorely disappointed. particularly deliveries which came in way worse than expected. that furious shareholder, gerber kawasaki's ross questioner bear. he's going to join me live here in the l.a. studio on what he says must be changed at the company to turn the tock which is down dramatically this year, turn it around. let's see what he says. we must show you how quickly the winds of change have buff debted the 10-year treasury yield. the yield began the session at the highest level since november, high of the 101-year session, 4.40%. we're at 4.367% right now. still up 5 basis points, 5 plus

basis points, since yesterday's close. so with the individual narratives driving the action, let's get to the floor show. the chief investment and portfolio strategist at a blackrock, from where you sit you're focusing less on the moment-by-moment news flashes and more on the macro picture. what do you see through that lens right now? >> hi, liz, it's great to be here. thank you for having me. and as we pointed out in our just published this morning investment outlook for the second quarter, the things that we're focus on, number one, growth still remains very solid. yes, we might slow down from the q4 levels, but still remaining very solid. we saw that in the ism data earlier out this week with. finish if inflation, i think, you know, there are there some concerns around it being a little bit more the stickier than what we had seen at the end of last year, but still making progress especially on the pce front. and then we have the fed. and, of course, we heard from a few speakers today that are system still keeping those the

three cuts on the table. however, i think we have to remember that the risks to fewer than three are gradually increasing as the data and inflation if remain sticky. so with all of this in mind, i would say investors really need to focus on earning income in the fixed income portion of their portfolio and then seeking quality in their equity portion of the portfolio and looking outside of the u.s. such as japan and india for a little bit of diverse my case. liz: okay -- diversification. let's dig down into what the two fed speakers who were out today said, mary daly of the san francisco fed, she said three rate cuts in 2024 -- sorry, that's mester. i've got everybody -- [laughter] you know erik they come out and start yammering. she said a reasonable expectation is three interest rate cuts. but then you flip over to loretta mester of the cleveland fed, and she said while three rate cuts for 2024 still look reasonable are, it will be a close call.

at what point do investors get rid of this fever dream of three rate cuts this year? i know what they're saying, but the data keep coming in stronger. yesterday the ism manufacturing data, very strong. jolts today, the job openings and labor turnover, came in exactly -- maybe a tiny bit lower. not even measurable really, than what was expected. 8.756 million jobs open right now. >> so i think that we have to look at, you know, the progress that we've already made. and to your point around inflation, it as has remained stickier, but we did get some good news in terms of the pce that came in at a 26 basis points, a little bit weaker than what was expected going in last friday. and i think that we need to see a fed, you know, when we heard chair powell speak at san francisco fed on friday, we need to see a fed with a steady hand.

that's not responding to the day-to-day data, but broadly looking at a improvements over inflation and broadly looking at some of the moves that have happened in the labor markets. and i think that the what investors are focusing on. look, at the end of the day if it ends up being two cuts instead of three, can the markets have a brief pullback? sure. but at the same time, is the earnings growth picture meaningfully going to change especially in those quality sectors, especially in things like qual, which is the ticker that we talk about, as well as communications services as well as, you know with, financials which is another area that we like. we don't think so. so focusing on earnings growth, focusing on cash flow, focusing on areas of the market that, you know, are very ripe for active management especially in the fixed income markets, i think, is the name of the game here. at the end of the day, i think this is a fed that wants to cut interest rates, they do. whether it's two or three, i think the market will eventually

not focus too much on, but quality will matter. liz: well, when you say qual, quality etf, q-u-a-l, give our viewers a sense of what are the top holdings there. >> yeah. i mean, a lot of it is a sector-neutral etf. a lot of the holdings that that you will find are holdings that are in some of your larger technology and communications services names that you're familiar with. but mostly these are companies that have a very stable earnings growth with profile that have strong cash flow and most importantly that have low leverage in a higher environment of rates whether or not they cut two or three times. we can all agree that rates are much higher today than they were, you know, about two years ago. and i think in that environment the leverage really matters. so these are a group of companies in a a sector-neutral way that are allowing you those characteristics. and i think's what investors should focus on. and i also think that it's really important to look outside

of of the as well. and -- of the u.s. as well. and this is where we spend a little bit of time talking about the incredible opportunity that's arisen in japan and india because of demographic and because of macro interest rate and reform measures that the countries are taken place. liz: well, if you look at qual year-over-year, it's up 30%, and it's had a wonderful 6-month run here of 24% in gains. >> yeah. liz: we always like to let our viewers understand exactly how they perform because with everything's down today, but today is way less important, if i'm hearing you correctly. gargi, great to have you. thank you very much. >> thank you, liz. liz: good to see you. okay, let's get to tesla. tesla's electric vehicle production declines for the first time since the covid pandemic. it's a rare drop and one major shareholder says one guy and one board are to blame. ceo elon musk and his board. up next, ross gerber, longtimeshare holder, is here on

what tesla needs to do to get the world's second richest man and the stock back on track. we do have it down year to date -- well, that's intraday, down a 7b9 -- 5.33, and i believe year to date it's down about 30%. can't see. nobody's helping me in the booth with. okay. down about 33% if year to date. all right, "the claman countdown" is coming right back with ross gerber in studio. ♪ than help you reach your goals. i can make this work. it can help you reach them with confidence. no wonder more than 9 out of 10 of our clients are likely to recommend us. ameriprise financial. advice worth talking about.

not all caitlin clarks are the same. caitlin clark. city planner. just like not all internet providers are the same. don't settle. you want fast. get fast. you want reliable. get reliable. you want powerful. get powerful. get real deal speed, reliability and power with xfinity. she shoots from here? that's kinda my thing. liz: all right, let us show tesla's stock. the disappointed investors are right on your screen. you can see it at the moment, they are hitting the brakes on

tesla. shares are down about, let's call it 9%? a 5%, rather. sorry, a 5.25%. [laughter] after the company reported deliveries in the first quarter fell for the first time since 2020. so here's the breakdown. tesla rah a handed over -- tesla handed over 387,810 vehicles in q1, that's 70,000 less than what analysts expected and an 8.5% drop from this time the last year when the company delivered more than 422,000 vehicles. the stock, down about 33% so far this year. investors are fuming. now as soon as the dismal numbers were released, ross gerber, a longtime tesla loyalist, tweeted: for over a yee i've been warning about -- year i've been warning about this potential reality, and now it's here. it's time for shareholders to assess the blame we're due, that the tesla's board of directors should be replaced immediately with independent directors as required by law.

ross gerber joins us now in a fox business exclusive. you're saying immediately replace this board. >> yeah. i mean, how many mistakes can a board make? if i mean, you've got the pay package issue in delaware. we know that it's not an independent board even though they've disclosed in documents that they are independent when it's actually not true. and now the fact that they've done nothing to stop the toxic behavior from the tesla ceo, elon musk, on twitter daily that now we all know has absolutely damaged the brand, and the board has done nothing. not only are they not independent, they basically all work for elon, and we know this. they've been sued and they have to give back $750 million of compensation that they were overcompensated for. and at some point you've just got to say this board needs to be replaced, and i'm saying it. liz: okay. but the board cannot control a berlin gig factory problem -- gigafactory e problem, chinese car companies coming up with with huge competitive forces in a are short time, you know?

let's keep that in miernlgd right? >> right. and some of those factors we can't discount, but when you really look at their vehicles, they are the best vehicles on the road from a quality, performance perspective by a large margin, and they're really cool vehicles. so the fact that they can't sell it, you can only blame one person for this, it's the chief sales person, elon musk. so what i'm saying is that they have many issues this quarter, and i think that was reflected already in estimates coming down, but this number they left 50,000 cars in inventory that normally they would have sold. so this isn't about production, liz, this is about a sales. liz: the company has an unusually high number of individual shareholders, much fewer institutional investors or big fund investors. and that is driven in part by that cult of personality, and they love elon musk no matter what he does. stock is different -- owning a stock is different from i'm going to slap down 30 grand or however much now in, i don't know, the model y's still about

$48,000, $50,000. even with the price cuts here and there of $1,000, then, okay, i own a couple shares because i think he's cool. so what should be the next step? >> well, first of all, model cs are now, like, $38,000. they're that a affordable, you know? i think for us we have relationships with literally thousands of tesla shareholders who are clients of our firm and investors in xk, my fund. -- gk, my fund. and this relationship is different for each shareholder and owner, but most of the people we're dealing with are now accepting reality that this is damaging the brand. so it can be fixed if and there might be an opportunity here at some point the buy tesla's stock, but with i think that inners of the car -- own ores of the car want to feel good about what they're purchasing it and aligns with their values just like our clients choose us because their values a align with our values as well. so i think this is the dissonance that tesla shareholders and car own es -- owners are having. liz: year to date, as we said, down 33%.

in just about every article it says they're no longer a a member of the magnificent seven. so as we look at that a drop going back to the issue in january where a judge in delaware overturned his $51 million pay package that the board grant "ed, it was the biggest -- granted, it was the biggest ever of any ceo, $51 billion -- >> billion, yeah. liz: i'm so sorry,ing or billion. >> it's outrageous. [laughter] liz: what's a billion among friends? if. [laughter] share heralds today, even the ones that are -- shareholders today, would they approve something like that, do you think? >> i think if there was independent directors that really negotiated a pay package -- liz: you know what? stop there. let's put up the direct's. some of the directors -- directors, some of the directors of this company. he's got his cousin in there, he's got his brother, he's got james murdoch -- >> several of his best friends. liz: yep, all close friends here. is there an independent director among any of these people?

>> well, not that i can honestly say is truly independent that represents shareholders. and that was why i ran for the board about a year and a half ago a, to represent retail shareholders because at the time the stock was plummeting in the post, you know, twitter acquisitions time. and, you know, i said, look, i'm happy to represent independent investors on the board. and, boy, did i get a lot of pushback from that, because nobody at tesla wants an independent director, that's for sure, and certainly not elon. but it's about a accountability. and whether people like it or not, when you go public as a company and it's 83% owned by the public, there's an accountability to the public that elon has when he likes it or not. and he month have gone public. one option is elon could take tesla private as he did -- i think it was on your show when they originally did the 4/20, take tesla private, and he could try to raise $5-600 billion and take tesla private he that has to understand this is a very big company, and if he wants to continue to be ceo, he has to

run it for if all of his shareholder, not just himself. liz: he wants to increase his holding. he wants the board to approve a massive increase of shares that he owns. is that a going to happen, do you think? >> no, because there's nobody to approve that, number one. and number two, there would have to be very strict, in my mind, rules for that to apply, one of which would require him to be sole ceo at tesla and give up his role at twitter. if i was going to give him a new pay package if he's going to work full time at tesla and give up tweeting on twitter. so that would be the requirements i would have for him to bottom full-time ceo and get a new pay package. liz: speaking of taking companies private, let me just quickly -- it's a big topic here in l.a., certainly. endeavor, it appears that a silver lake partners was be going to take this private. the stock was halted earlier. right now, i believe, it's up about 2.33%. big entertainment story, but let's broaden this. beyond shareholders, do you think taking companies private, a lot of deals are going to

start happening more? they only offered a 5% premium to the stock. >> well, every situation is pretty -- can endeavor's situation is pretty unique, and this was a failed ipo that didn't produce any value for them, and then they moved into tk can o which is wrestling and ufc. and so this is really just a failed ipo that they're taking back at a reasonable price. but i think taking companies private in general is not the trend. i think we're going to see the opposite trend, more private companies going public over the next cycle as investors want to unlock value that they haven't been able to i unlock over the last several years because the markets have been so tough. ly list i wouldn't exactly call a 2.33% pop in the stock an enthusiastic -- >> no, the tock went public at about the same price that a it's being taken back out. endeavor's been a failed public experiment, mostly that they don't run their business to the favor of the public shareholders. the insiders make all the money. i know one of them personally, went to school with him, and

he's done very, very well financially. liz: that's an interesting point. >> many companies are not run per se for the benefit of their shareholder, but most public companies do run their businesses pretty clean. liz: your next ev purchase will be what? many you have three teslas? >> i have two, and i just purchased the new rivian for my wife, and i did purchase the cyber truck for myself. [laughter] listen, listen, you know, i got that have these vehicles because i love cars, and i have to test them. as an investor, i feel very -- it's important that i know the most about the vehicles -- liz: that's fair. >> as a tesla investor, i think i should know the vehicle. that said, i'm excited because i think it's an iconic vehicle. liz: ross gerber, thank you so much. all right or, from cars to cargo, the first ships are finally departing the port of baltimore after of the disastrous collapse of the fran if sis scott key bridge a week ago. we are tell you who's clearing the path of wreckage and why the owners of the ship involved with

claiming protections by the so-called titanic law. yeah, we had to look that up too. wait until you hear what that is. here's how the biggest maritime shipping companies are trading today, they include golden ocean group, maxim, star bulk carriers and zimm integrated shipping services. right now most of them are down except for star, up fractionally here. we are woman coming right back, "the claman countdown" from los angeles. ♪ ♪ ♪ hello, mia. are you ready to meet your demise? man, we really need to upgrade your trash talk. ♪ nice shot... shot... taker. who programmed you?! i'll see you tomorrow. the future isn't scary, not investing in it is. 100 innovative companies, one etf. before investing, carefully read and consider fund

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liz: fox business alert, breaking news, the first ships are now departing the port of baltimore after an alternate channel was cleared at the site of the francis scott key bridge late monday night. officials are working on a second channel for deeper draft vessels but cannot say when that might be opened. meanwhile, the owners of the cargo ship that one week ago a lost power, slammed into the bridge and knocked the entire span if down, those owners have filed a court petition citing the so-called titanic law which would limit its liability in the accident that killed two with four others still missing and presumed dead. fox news' chief national security correspondent jennifer griffin joining us now from the pentagon with how the department of defense is helping to reopen maritime business. big endeavor here, jennifer.

>> reporter: absolutely. governor wes moore just announced that a second channel has just been opened that is 14 feet deep, 3 feet deeper than the first channel which opened on monday. that is, those are the first channels opened since the accident last tuesday. the u.s. military is working as fast as possible to reopen the port of baltimore, but it is going to be the long and and a slow process, we're told. a tugboat pushed a fuel barge through a newly-opened alternate channel late monday allowing some ships to begin leaving the port of baltimore, as you mentioned. the alternate channels are primarily for vessels helping with the cleanup effort. the army corps of engineers has a provided 1100 soldiers who specialize in construction to assist in the clearance effort or. the navy has provided 12 crane and support vessels, tugs, survey and dive crew boats, 4 massive barges including one with a 400-ton lift capacity, another capable of lifting 1,000 tons.

the u.s. military has provided about 50 rescue vessels so far. over the weekend crews overseen by the unified command led by the coast guard started cutting the first section of steel from the bridge for removal. during its first crane operation, these crews removed 200 tons of steel from the now have ruined key bridge. a piece of steel almost the size of the statue of liberty. it took 10 hours to remove the first 200. tons. up to 4,000 tons of steel sit on top of the cargo ship that took down the barge. at a press conference monday, coast guard rear admiral shannon gill wreath said surveys reveals the more complicated than he had hoped for. >> below the water line along the bottom is very challenging because these girders are essentially tangled together, intertwined, making it very difficult to figure out where you need to eventually cut so

that we can make that into more manageable sizes to lift them from the waterway of. >> we're talking about water that is so murky and so filled with debris that divers cannot see any more than a foot or or two if front of them. every time someone goes in the water, they are taking a risk. every time we move a piece of a structure, the situation could become even more dangerous. we have to move fast, but we cannot be careless. >> reporter: president biden plans to visit the site of the wreckage on friday. adding to the horror, the 21 cree members of the cargo ship remain on the freighter. that freighter remains trapped by a tangle of steel wreckage. liz? liz: oh, my goodness. that is, that is very, very disturbing. you know, jennifer, this titanic law basically goes back to the titanic k. and, in essence, it says that that no owner of a

ship like this can be busted or at least -- you have to acknowledge that they have no privity or knowledge that anything bad could happen. but in the end, have they really figured out what the issue was? >> reporter: they're -- that investigation is still ongoing, liz, and i think it's going to take some time. but it's notable that already the legal positioning is beginning when there are still, again, people trapped onboard the ship owned by the mv dally, and there are rescue workers risking their lives underwater to tie and untangle some of this wreckage and to try and get the port opened again and to basically free up that vital waterway. liz: jennifer, thank you very much. jennifer griffin. fox business alert are, the first ever electric vehicle is drawing strong interest, and buyers may have to wait months to get their hands on it new

su-7. on the social media app way slow, the chinese handset maker said the company has received nearly are 90,000 orders within the first 24 hours of sales opening up. analysts say buyers could face waiting time of 4 months all the way up to 7 months for the vehicle which is priced at $30,000. oil field services giant slb, formerly schlumberger, buying champion x in an all-stock deal valued at $7.75 billion. champion x share holders will receive .75 showers of common stock -- shares of common if stock, a people premium of 14.7% at champion x's haas closing price. slb says the deal would enhance its operations by adding production chem ca calls and artificial lift technology to its portfolio. slb is down 1.6%. it is not your dad's general

electric anymore. ge is now split into three separate parts, the energy business, it's called ge -- [inaudible] which debuted on the knew city today. the aerospace business which trades under the ticker symbol ge, the old one, and its health care technologies which, as you may remember, launched on the nasdaq last year. we've got general aerospace trading lower by 11.6% -- 1.6% and ge health care down 1.5%. and finally, pvh stock losing its shirt after of the apparel giant which owns calvin klein and tommy hilfiger forecasted a deeper than expected drop in the annual revenue. look at this hit, down 22 plus percent. they are blaming weakening demand in europe. the company forecast fiscal 2024 revenue will fall between 6-7 versus the prior 2.3% estimate. the future of professional golf that may be as

unpredictable as a march madness. with just 12 days to go before the masters' tournament, we've got billionaire entrepreneur bob parsons, the godaddy's founder's latest brain child, pxg parsons extreme golf has pointed views on the saudi-run liv golf linking up with the pga. we're going to ask bob to look into his crystal golf ball on how that combo might play out and how it could affect his performance golf equipment brand. "the the claman countdown" is coming right back. don't go away. ♪ ♪ hello, ghostbusters. it's doug. we help people customize and save hundreds on car insurance with liberty mutual. we got a bit of a situation. [ metal groans] sure, i can hold. ♪ liberty liberty liberty liberty ♪ in theaters now. salonpas lidocaine flex. a super thin, flexible patch with maximum otc strength lidocaine that contours to the body to relieve pain right where it hurts. and did we mention, it really, really sticks?

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liz: you know what? believe it or not, we're actually at session highs for the s&p and the nasdaq. they're still in the red, but look at the dow. the dow's session low was a loss of 5515 points, and -- 515 points, and while we're still down by 364 points, listen, it's a moving, breathing creature,

these markets. [laughter] you never know where they're going to go. but at the moment, we are off the worst of the session. the 88 9th masters will officially tee off next thursday, april 1 19th, at augusta national golf club in georgia with 105 golfers invited to play. just 888 of the invitees --8 will battle it out for the -- 888 will battle it out. pac if players rory mac ill roy and tiger woods are expected to compete while 13 of the saudi-backed liv golfers or are set the talk the fairway including american -- phil mickelson. liv golf has been a source of controversy. it's entirely funded by the kingdom of saudi arabia. so what does one military veteran here in the u.s. and self-made billion fair have to say about it? joining me now in a fox business exclusive the finder of godaddy and parsons extreme golf, bob or

parsons. bob, you've got a new book with coming out next month called fire in the hole. congratthelations. we can't wait to read it. great title. we are with, as you -- you are, as we say, a marine veteran, but you're also a huge golf fish mad doe. it's take -- to fish mad owe -- to fish mad doe. now here come the masters. what do you make of the developments that are going to happen next week, and do you expect this combo to go through with the pga and liv? >> well, yeah, you know, it's interesting what's e happening with liv golf, you know? initially, pga tour and h are iv were at each -- liv were at each other's at leasts. that's not the case anymore. each a other's throats. we've hat a number -- had a number of people move over who said they never would, most notably, jon rahm.

he'd never make that in two, three lifetimes, so i understand him moving. everything rotates around the checkbook. staying power and love of the game. so, you know, let's see what happens. liz: well, i get that, but you've got members of congress specifically in the senate who are really pushing against this. and part of it has to do with the history of the saudis and 9/11, etc. i mean, clearly, they are not just looking to put all of their money into golf, they are everywhere it feels like. they're going into everything from formula 1 to women's tennis. i mean, actually, the women's tennis championships are going to be in riyadh, and, you know, you have martina navera rah the city love v.a. saying they're not going because they think the country is regressive. you as a businessman, would you

sponsor any of the players that are involved in liv golf, tennis or any of the other sports? >> well, right now we don't, and part of the reason why we don't is liv is having a hard time getting people to watch. and, you know, as far as the liv tour's concerned, you know, they have -- they're got a little different rules. they've got some contrived thing with teams playing in every tournament and and so forth. and it's, you know, looks a little left-handed to, i think, a lot of us american golfers. so, no, i don't, you know? and i still, you know,ing with y background, you know, i've got to consider the hand, you know, the saudis had or were alleged to have had in 9/11. so, you know, for all those reasons, you knowing we're just standing back and watching. liz: you've got a fellow billionaire, steve cohen, who

owns the new york mets, and he also is going into private ventures, new york golf club, tgl. so you guys are, in a way, very much similar except you, you're not in a professional team. you don't, you haven't bought a professional team. a, would you consider that and, b, would you ever consider or teaming up with fellow billionaires like steve cohen to create a counter to liv golf/pga if they do end up merging together? >> the answer to your question, liz, is no -- [laughter] 9 and the reason for that is one of my rules always has been, and my business career is no partners. so, you know, if i did it, i'd do it on my own, but, you know, i've got no plans to do anything like that, you know? i've got my hands full. i mean, we're past our tenth year, and, you know, it's still, still a fistfight, liz. liz: i know. i know. well, you have started so many

business z. obviously, godaddy was brilliant, creating a web domain company where you buy and sell domains back in 1997, just inspired, to do that. pxg, you've got a whole bunch of other ventures. do you think it's as difficult to launch a business today as it was back then? is it harder? because with you hear a lot of people complaining, oh, you know, the person dream is gone. is it? what do you think? -- the american dream is gone. is it? >> i think the american dream is alive and well, and and it's not going anywhere anytime soon. you know, people get confused with the american, you know, the american dream is the difficulty in doing, you know, your own business with or getting started. and and i'm going to tell you by dad told me one time, he said, you know, he said e, robert, he said don't ever think the other guy's business is easier than yours. he says they're all hard. and i'll tell you what, the one

thing i learned from all my businesses -- [laughter] is they are all difficult, and and they're no more easier today than they were back then and no more difficult. i mean, you know, you -- if these things were easy, everybody would be doing it. so you really gotta have your staying power and a good plan. liz: and you've got to work. you grew up poor. you have said this in other interviews, it is a known fact. but you obviously just forged ahead, worked til you sweat probably, til your fingers were bleeding to the bone. as you look right now at the technology world where you obviously were huge with godaddy, a.i. is such a major force at the moment. what do you make of it with your tech hat on, and do you have any fears about a it? are you looking into it as a possible business opportunity? >> well, you know, i always consider what's in front of me, and i think a.i. is promising.

it is, you know, to me, it is not there the way everybody claims it's there. so many people, you know, they're saying, oh, we used a.i. for this and we used a a.i. for that, and you know what? yeah, right, maybe. more than likely they didn't. [laughter] so we'll see. you know, it's like everything else, you know? it's like cloud computing, you know? when that was first, you know, implemented way back when in the, you know, 2000s, you know, everyone thought that was pretty good. then i seen what it was, i've always been doing it. [laughter] i mean, it is -- a lot of this stuff is rhetoric. a lot of it isn't. i mean, there's some stuff like, you know, just doing general research that a.i.'s going to come in the handy when it comes to solving all your problems, don't look to a.i.

[laughter] liz: oh, it's so great to have you. wait, so can i just with, can i just ask you, you know, the minnesota timber wolves are available for purchase, i think. [laughter] so at the moment, there are some battles going on there. hey, you could buy a team, right, bob? >> well, i could. i could. and, you know, there was a while ago right after i did the godaddy deal and i made my first billions, i was thinking, welsh maybe i'd like to own an nfl franchise. and instead i wound up buying what became scots dale national -- scott dale national and bought the thing for, basically, $100 million, and i've put $300 million into it. it's like no other place in the world, and i tell you what, i'm happy owning just that. and i tell you what, i enjoy other sports, and i like to go and watch them on a -- on a big tv at scottsdale -- national.

liz: bob parsons, great to have you with. we're coming back with pit coyne talk. stay tuned. (grandpa vo) i'm the richest guy in the world. hi baby! (woman 1 vo) i have inherited the best traditions. (woman 2 vo) i have a great boss... it's me. (man 1 vo) i have people, people i can count on. (man 2 vo) i have time to give (grandma vo) and a million stories to share. (grandpa vo) if that's not rich, i don't know what is. (vo) the key to being rich is knowing what counts.

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her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they 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. ♪. liz: bitcoin has been all over the place. right now it is back above 66,000, barely. showing some weakness to start off the second quarter after

closing out the first quarter just two days ago at the highest level the crypto has ever seen. that was 70,300. let's bring in coinshares head of u.s. asset management, former cio valkyrie. he is here in a fox business exclusive. let's quickly get to the price, where you think it is going and the beat your bitcoin spot etf. >> liz, thanks for having me. first of all we've seen a lot of excitement over the bitcoin spot etf. we had over $500 million since we launched two weeks ago, two months ago which is tremendous for this market. right now i do think we're going to see a little bit of a pullback because people got real excited about the launch, got real excited about the halving. so i see a little bit of weakness in the coming months. by the end of the year i believe bitcoin will hit $150,000. liz: whoa, 150. it is at about 66 right now.

that halving now officially has a date, april 20th. a lot of analysts are expecting it could bolster the etf tailwinds but, let's just quickly talk about fees. when you launched you had sort of an introductory offer of zero fees and now it is going up to near half a percent. that could be dangerous as we've seen with some of the other etfs that have raised their fees and there have been big outflows. >> yeah, liz, we are our fee will go up to 25 basis point after the inducttry period. we'll be pretty well in line where everybody else is. we're seeing fees anywhere from 20 basis point all the way up to 1 1/2% which i think is a bit high but i think the general consensus is 20 to 30 is about where the proper price is. liz: 20 to 30. last week, blackrock's larry fink came on the show, he of course has a blackrock etf he said a possible ether etf is

underregistration. they have registered for it. they are waiting. what but guys? what do you expect from the sec which took forever, like pulling teeth to get approval of spot bitcoin etf. >> spot bitcoin took years. one of the things i look at the bitcoin futures etf which we launched a little over two years ago it took two years from that point in time to get bitcoin spot. ether futures was just approved in october. if the bitcoin is anything to show here, it could be another year-and-a-half before we see an ether spot product. we're not in a hurry to do anything. we're waiting to see what the sec does and whether they decide it is a security which is still in process with others in the sec so you're not rushing. steve mccluing, we'll see you soon, it is a hot story. bubbling story, energy sector,

the select spdr etf fund hit $96.40 earlier today. that is the highest intraday price since july 30th of 2014 and our "countdown" closer is here. says the energy sector is prime for a runup. we're already there, quincy. quincy cross by is chief global strategist at lpl. the runup is here, is it not? >> absolutely. we hit west texas intermediate crude $85 a barrel. brent is 89. the question does it start moving up on the back of a number of catalysts including geopolitical issues. including the fact that we are in the season for driving and that usually picks up the price of oil. but, the issue really is, how much are americans going to cope with higher gasoline prices? they typically don't do well with it. they blame the white house regardless of which party is in the white house and their vision

of future inflation starts to climb higher. something that a central bank does not want to see. liz: quincy, we have about 40 seconds left. the refiners have had a nice run-up this year. when you talk about gasoline you need to talk about refiners. would you stay with them? >> absolutely. look for example, valero. we haven't built a refinery in this country in decades. look at valero. liz: valero energy it is. we're really pretty stunned because it has been amazing runup for crude oil pretty much year-to-date. as we continue to watch oil up 17% since january. [closing bell rings] here come the bells. dow, s&p, nasdaq, another day of selloff. the nasdaq eked out a gain yesterday. tomorrow fox news contributor caitlyn jenner and palantir cofounder -- ♪. larry: hello, folks, welcome to "kudlow," i'