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tv   Cavuto Coast to Coast  FOX Business  June 3, 2024 12:00pm-1:00pm EDT

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stuart: where did they come up with the questions, what proportion of the brain what percentage is water, okay, you are laughing, you are first. >> there is a whole lot more water than. >> 65%, number two, he got it right, can you believe that the average human brain weighs 3 pounds and 20% of the oxygen and blood in your body and 75%, who knew. >> lauren, actually we will see you all again tomorrow i do hope and i got a county down to "coast to coast". five, four, three, it starts n now. thank you for the brilliant lead, this game won't stop name
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stop jumping is roaring kennedy shows he is buying, that would be keith gill he told his followers that he established a 116 million-dollar positioning gamestop, it is a thing again, take a look at amc rocketing the latest fraud that will not fade, always in the eye of the beholder but the hold of the mean rally and at least for the nasdaq pumping of the average as well, not so much the other two for the time being, welcome want to go to kelly o'grady on the roaring kitty claimer. >> you gotta leave me something, the mean media is back i'm getting give you that one, gamestop sword in premarket trading and shot up over 80%. it come back to earth a little
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bit as you can see it's up 30% and it had been halted due to all of the volatility that we've been seen, the activity came after in account that was linked to roaring kitty the trader keith gill posted a screenshot on reddit yesterday, it showed an additional bet on $160 million on the mean stock it caused a flurry for two reasons, the first this is the first time that account has been posted since 2021, a lot of folks were saying he's back in the game this means roaring kitty is betting on gamestop to go up that's what you see the investor interest today, you couple that with what gill's twitter account posted this is a picture of an uno card if you ever played the game, a player throws this down to reverse the order of the game, a lot of folks are taking this to mean roaring kitty is reversing in
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favor of the average investor. we are nowhere near the spike that we saw back in mid-may you can see that right there on the chart which we sell mean mania and a lot of folks are wondering does roaring kitty have the same influence as in 2021 or are we likely more to see a series of muted pops and drops going forward, one mean stock benefiting from today, amc the stock right now is up 13%. again off the highs of what we saw earlier this month, although amc is known for creating in the times of investor interest selling the contested a pe shares last time around and roaring kitty can pump the stock if there is a big run up and he decides to sell where does that leave the little investor that jumped on the bandwagon today i tend to be more cynical about the market motivations.
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>> someone gets burned with the sort of stuff, thank you very much without, let's go to kenny polcari chief market strategist we've also got mitch roschelle it's been a while since he's been with us, partner and chief strategy officer, welcome. to you first on the mean mania that is reforming it comes and goes and some interpret that as a definition of frost, what about you. >> i think it is but it signals that the retail investor that sits on the sidelines and wall street and makes money and makes their parents make money in the stock market wants to play but they wanted with their own way so they jump on the mean stock bandwagons, is a generation z that is influenced by influencers and roaring kitty is influencer as mean stocks, i'm with what kelly said if he decides to make a quick profit and dump it he becomes a very thing that he's been fighting against the becomes the big
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gorilla that makes money and makes the little guy on the lurch. >> he would not be the first guy but should we worry about this, i'm not saying anything against some of the individual stocks people getting to the mechanics of this and whether they have may have testifies and what goes on that's a separate story. sometimes that is indicative of a market that is getting ahead of its keys, what do you think. >> i definitely think it is to kelley's point in mitch's point. the rallying on one or two influences that suddenly all of the generations er following they have to be like them the fact that this was up 100% in the premarket this morning he is longing 21 quarters a dollar and read it over the weekend he is a 21-dollar price but it's trading back in 28, to your point what
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if you sold in a 43 in the premarket session up 100% are you kidding me, then you want to say whose fault is it really, the guys that were paying 40 this morning and said i'm getting hose, you have to understand the risk and i don't think there's anything fraudulent about it. he's telling everyone what he's doing is not like he's hiding but he has to be careful which is why i don't trade the stocks my clients don't treat these stocks i got better things to do than generation z. >> let me ask you about what we saw, normally going away and coming back in the fall the fact of the matter is most investors by the aggregate they don't pay and a lot of them could be sticking around the summer may be sensing this is a summerlong rally in the early stages of the bull market. the fact that there's a disconnect with a lot of the crosscurrents in the economy you
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saw a gdp number that wasn't good in the job number this friday that potentially could be a little on the anemic side. there is reason for caution on the eyes of investors. if they leave things on autopilot and don't act during the summer they could find themselves in trouble, the other thing about the market that i think investors are acutely aware of a handful of names have driven the gains year to date and the question is are the smaller names or the rest of the dow jones industrial average what are they going to do the summer at the academy starts losing steam. neil: i'm wondering if were separated for the economy, there are a lot of people that don't want to miss the tech rally and when he just started. we have a solid and we dive back in and we seen this before where they're saying i know we can elaborate a little later in the
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show but the notion that you don't want to miss out, you are missing out, whatever you want to call it. what you make of that phenomenon for a lot of investors. >> i think tech is where we are is a very, very exciting place to be, the a.i. nai generation are affecting every sector in industry and stock out there, you can hear it and see it and listen to what jensen says nvidia all the action taking place, you have to be nai believe, you should be in it overweight it depends on where you are in the age scale is good to depend on how much are in it. it's a fear of missing out people should be in it but they need to be in it with a long-term view. don't wander too far i would pick your fine brains on this technology and the nasdaq nvidia still on fire. in the meantime getting to opec what we do with a lot i am
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committing myself to guiding the production of what i eat and then leaving it out where i might not have to stick to that or i could unwind that position, there is no such analogy in the market, opec plus companies which includes all the oil production companies to save the united states has said that they are going to cut production and a few hours later indicating that we don't have to keep doing this by early next year, it is voluntary after all it's a diet they may not stick to, oil prices have come down on that, phil flynn is smarter at making sense on the senior analyst fox news contributor, they call that a 180. >> they really do i don't know what you're talking about on the diet thing but i tell you about opec right now, opec, you see in the market today the opec of paper tantrum they did what they
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wanted to do and that was extend original cuts not only to the end of this year but all the way through 20 of 25, they have two sets of voluntary cuts, $2 million voluntary cut, 1.6 million-barrel, at some point in the want to get some of that back. that is the reason for the concern of the market today and how is the market going to react are we going to have an over supplier were under supply right now better on oversupply that's a pretty pessimistic bet, what were you to see in the fourth quarter demand should come back and they should be oversupplied and we might need those extra barrels. neil: oil prices are dropping from the brief run-up that they enjoyed obviously the market thanks opec can't stick to much of anything. maybe a slowdown in global demand and into lower prices and
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gas prices included the summer, what do you think. >> and i think we got too much farther to fall to be honest and we already know that the budget administration is talking about were purchases from the reserve inc. technically in the key area, there is a possibility there is a brief rundown to 70. i think it will be short-lived, as the weekend into the end of the year better demand from china better demand for the united states i think things will perk up a little bit, that's what we're going to see in the data today bad manufacturing, report the venezuela dumped all their oil on the market last month and they knew the sanctions were coming back. that is going to go away and i think things can tighten up a lot quicker than you can think. neil: always good talking to you all talk about this guy analogy thing later. it is weird how were reacting to all that, phil flynn watching very closely, we're watching this on capitol hill involving
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anthony fauci, he is being grilled by republicans who said he is lying about the source of covid and he knew it was being concocted in the wuhan lab, there's never been any proof of that by the way, he's obviously trying to swat away the arguments, some democrats are helping them but the two are talking past each other. my favorite part of these hearings when either side asked the question and he starts answering any says i don't have time for your answer. it tells you what you need to know, more after this. ♪
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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. neil: a little bit of news when donald trump was telling her weekend at "fox & friends" crew that he's okay with jail or house arrest whatever the stipulation is when he is ultimately sentenced on july 11. eric shawn has been piecing this together with the legal options might be. >> former president trump's lawyers say they will appeal his conviction and they say when the defendant takes getting the verdict thrown out is a sla slamdunk.
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>> everyone tells me this is the easiest case to overturn but they don't care because they wanted to last until after the election. the only problem so far my poll numbers have gone up. >> former president trump optimistic about his chances winning an appeal, his lawyer todd blanche says a variety of legal issues that he things could ultimately vacate the verdict. he plans to challenge manhattan district attorney alvin bragg stretching the statute of limitations to include election and tax laws that trump was never even charged with. blanche wanted the jury to see michael cohen's tax records and will challenge the bar in trump from using the defense he was relying on the legal advice of cohen his lawyer, trump's defenses of store media no salacious testimony saying improper judgment sean should never allow the details of her alleged sexual encounter with trump to be heard by the jury, the defense wants to raise judge juan mershon donating $15 to president biden 2016 campaign, new york state committee ethics
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ruled there was no conflict in that but reportedly the panel gave them a warning because it is against the canons of judicial ethics for judges to take political positions, some legal experts are saying the appeal will go anywhere because you need evidence of egregious mistakes, wrongdoing and appeals courts often do not like to second-guess the jury but meanwhile since the verdict happened last week the trump campaign says it's raised more than $52 million in donations so far, that has been climbing. >> instantly has been climbing, taking for that, we are told depended again who you want to believe on this around 200 million if you take the fact and the widow when she's given $100 million to the campaign we're told 100 million if you include the small to big donors who have contributed since the verdict went down and bill clinton advisor democratic
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strategist bill mcgurn editorial board member former bush 43 writer, welcome to both of you in on the money donald trump is raising in the have to say that as your base, they are loyal in their sticking with you in any signs that is outside that base. >> i don't know i'm not in the campaign but i think eric trump said a third came from new voters. a lot of people my sense and i would've heard trump in the conviction that a lot of voters reported they would reconsider who is convicted. now from a lot of people not necessarily maga were republicans who think it's really stinky what happened in their more sympathetic to trump, i don't think we know and a good
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key and with any other candidate. >> usually right about that and we have a new abc news poll that was released yesterday and 49% think that donald trump should suspend his campaign after he was found guilty of the four felony counts. how reliable and accurate in the polling involved, if it's even a fraction of that in the race this close and paragon states, what do you think? >> or 65% to say the joe biden shouldn't be running for reelection at all, i wonder what percentage of the 49% who wanted to suspend the campaign are democrats or democratically independent or people who were never voting for donald trump
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and when you look at the choice for president in the rcp average it has a narrow read in the few polls post-conviction have shown a point or two movement joe biden "the bottom line", my take at this point i don't see any clear evidence that this conviction is going to fundamentally alter or upset the race from $200 million from being convicted in this very least emboldening me. >> is a very good point, another discovery the survey found people were split overall with 47% saying the charges against him are politically motivated, 38% saying they were not. again it depends on going to the
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polarization of the electorate where you come from it might not be moving the needle one way or another. if he is present in some jail time it seems unlikely or the earliest home confinement or mar-a-lago or something like that i don't even know. it seems like a bit of a stretch, what would happen then. >> i don't know you don't know as doug said. you don't know who these people are so they won't vote, we don't know, we think "the bottom line" is doug point out 65% of people don't want biden to run, i'm not sure convicting trump is the way to persuade people to overcome with joe biden's obstacles on age, inflation and the border, the danger is democratic's overplay their upperhand and i would not sneeze added 200 million that he raised even
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half of it came from one donor that is pretty good, i think trump confounds all the experts because he's never placed by the game but, he places on game. and i actually think some of the restrictions the judge may lay on him that may be perceived by a lot of people as unfair interfering with the campaign. >> a very good point, it's still early but these are unprecedented times, unprecedented type of canon but nothing seems to be sticking so far. bill mcgurn, doug schoen and keeping the rest of the capitol hill involving anthony fauci and how we handle the covid thing, a lot of the back-and-forth particularly among republicans are no big fans of his, saying he botched the covid response and more particularly responsible for letting covid are wrapped in the first place at the wuhan lab and the back-and-forth continues, mike
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emanuel has more from capitol hill. >> good afternoon, republicans are digging into doctor anthony fauci's leadership during covid and the way the government handle the pandemic, dr. fauci admitted the 6-foot social was now based on scientific study, dr. fauci was pressed on whether he tried to circumvent governor records laws when evidence suggests one of the senior advisors used personal e-mail. dr. fauci did you ever delete an official record. >> no. >> dr. fauci did you ever conduct official business via e-mail. >> to the best of my recollection and knowledge i have never conducted official business by my private e-mail. >> leading republicans no americans were bullied, shamed and silenced for questioning or
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debating issues such as social distancing, masks, vaccines or the origins of covid, he insists the u.s. government did not fund gain-of-function research as serious concerned that taxpayer dollars may have led to the creation of covid-19. he also weighed in on the origin of covid-19. >> the second issue is a false accusation that i tried to cover up the possibility that the virus originated from the lab in fact, the truth is exactly the opposite. >> democrats and republicans are being unfair to dr. fauci. >> i don't think that anthony fauci made missteps. i think this pandemic scared a lot of people and donald trump was president, we did not have a lot of facts or a lot of scientific evidence and people were learning and trying to save lives. >> this is the first congressional testimony from drm his government position.
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neil: is getting heated, thank you for that, mike emanuel some space news to share, we've seen the boeing starliner which we were eagerly waiting to see in my weekend show, that is delayed later this week then we come to discover that space acts starship also delayed for later this week, no such delay for the chinese who landed another far side of the moon with a lot of people in the dark side it's not the dark side is a far side. taking samples from the surveys, what are they up to the chinese never tell us and we keep asking, what are they up to, after this. ♪
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that's the value of ownership. >> this is the business that we are in everything has to work perfectly like we talked before, today we got really close it did not work for us, the team is very professional. >> bottom line boeing starliner rocket is delayed the launch sometime later this week at the same time spacex which is looking at the fourth launch also delayed this week, the fact of the matter is but we know is having problems of its own, there are launches of gogo in the space coast it a must when every other day, there is no
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shortage of rockets going up there. at least we know what the plans are and who can link up to the space station when it comes to china and is very ambitious pricing plans, no one seems to know for sure, it landed the spacecraft on the far side of the lunar surface right now and collecting samples, no one knows what they're up to and they're up to a lot and to believe the latest numbers from nasa, china is spending more on the space program, every other country combine with the united states and russia, those are pretty big numbers and we don't know what it's about, rebecca heidrick is joining us for this segment a cracastronaut, we don't know wht they're up to we know they're up to a lot, particularly in the moon and the military satellite system circling, what are you fearing there.
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>> we really are in the space race with the chinese and what's more concerning is the chinese are deepening their collaboration with the russians and all areas but very concerning is a cooperation for space as russia was planing its invasion of ukraine china and russia announced that they would be collaborating to put a station, a base on the moon in great gains with the lunar program and it's great gains and we don't have insight and clarity into what exactly the chinese intend to do if they make gains or what they intend to do with what they discover in space in general but particular with the moon. neil: to your point enter paraphrase, the silence is deafening in the worst days of the space race with the soviet union, we knew what their intentions were we were fond
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about the lunar 15 and the unmanned rocket going to land on the moon and return before astronaut on apollo 11 in instead of that time it crashed on the moon, we knew what they were up to sometimes not until the final moment but which i know we don't even know the final moment we were able to ascertain the landing, they did not volunteer it what do you think about. >> this is all by design china wants us to be unclear about what were doing and they're doing and we really do believe that they see themselves as raising with the united states and they want to demonstrate that they are a preeminent superpower and they want to prove to the world they think they can and have a system of government that produces greater technological advances that they can do something that the united states can't even do and therefore countries should listen to them in the leading authority on the rules to the
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road. and of course we know china has been increasingly aggressive and belligerent in what we consider in the west considers free and open shared and global comments in the air in the outer space, and americans rely on space from communication to banking to navigation to whether and we want space to remain peaceful and china has been acting increasingly dangerous in space so anytime they make advances and don't tell us what they're up to, we have to assume it's for malicious purposes up for the united states. >> we don't even know for sure, thank you very much. rebeccah heinrichs we want to clarify on the numbers that make a liar out of me, the fact of the matter china merges the space to the military budget we do not separate the two it's hard to ascertain whether spending if you merge again and the soviet union did in the earliest days that's what you
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got one, that's what they're spending on more of us combine, taking you to what's happening as we start to hurricane season will could be not only the busiest but the nastiest in 2 million moved to florida in the last couple of years on a permanent or part-time basis and they don't know what's coming their way. after this. ♪ (bell ringing) someone needs to customize and save hundreds with liberty mutual! (inaudible sounds) (elevator doors opening) wait, there's an elevator? only pay for what you need. ♪ liberty, liberty, liberty, ♪ ♪ liberty. ♪
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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. the stock market does. in fact, most people don't find them all that exciting. 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 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.
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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. neil: one of my favorite gases is joining me kind of relates to the story regarding spotify hiking its prices by 4% on the price hike in the stock is up 4% but if you notice that's beginning to be a trend with some companies that have responded the inflationary pressure and passing on price increases but hasn't lived its limits with the fast-food guys, mcdonald's and wendy's and burger king all of them are pushing value meals even in the face of overall prices that are
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about higher than they were the chairman and ceo sold a big chunk of the restaurant and made about load of money but is here to tell us what it's like to have a boatload of money, what do you think about in the restaurant industry and how some are responding and some like red lobster or fire filing for bankruptcy and others can barely get customers at all the. >> i in you two or three others on the size and scope of red lobster the ruling to be next what have you, there is a dichotomy the unicorns that are doing really well i choose not to get free advertising and then the bulk of the space which is struggling and is struggling because cost are going up, core cost food. >> you could only pass so much a log, they passed the in an overhang on the covid money but you run out of covid money in
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for the longest time there was a overhang and i saw where consumer debt is rising to new hikes default on consumer debt are up 8% if i read the article correctly, they are getting to the end of the cycle if you w will, what happened they have to get more creative and think of ways to barbell system get their guest in and sell they're not discounting. what you call mcdonald's, burger king the 5-dollar value meals were less obviously i would assume they've lost leaders of the can go on indefinitely. >> they can sell a coke, coke or pepsi and that's a 1.99 and we were run programs, 1 dollar for a margarita, dollar rita, you
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got it you cannot drink too many dollar readers without asking for a hamburger to drive home you gotta drive home. we get the men with the value loss leader and even on alcohol dollar, there is a limit i know mcdonald's ceo recoil and it was in connecticut in a franchise operation and the franchisees decide that what do you think of the argument, they are abandoning fast-food and ironically going to casual dining. >> another step up. what is he doing his trying to justify, what happened to the dollar menu, it is $5 but remember the dollar menu it was not before the second world war if i recall correctly. >> second of the prior month, americans are right they are
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deciding where to spend their money but i hate to use the term as bifurcation as they talk about the well-to-do still go out and eat out but the rest are giving up, what do you think. >> there are three parts to the restaurants fine dining can't get in a good restaurant, sorry for using that word, that could be wrong to you, there is fine dining and casual dining and quick serve, there abandoning quick serve quick serve is trying to get into creative ways to bring them in 5-dollar menus but they are competing with the casual dining space are space and were trying to get very creative input value and i.e., free delivery, i.e. two for 20 and somebody else we won't name him comes up with 3420. >> when you sold them how many did you sell. >> i sold 23, this is hard for
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me to continue making money. >> you had nothing to do with that i spent a full year, saying can i do this. >> it wasn't a limit of how much higher. >> it was a strategic acquisition i was not in the market to sell and it was literally chased for about a year by the buyer and the buyer ultimately. >> you run your restaurant very well and i know all about treating your people well but those people are expensive and paying them in some states like california where the demands are $20 or even more, there is a limit. >> 100%, on the other hand if you don't do that you get second-grade people and second-grade people, they drive the consumer away, your margins are going to shrink.
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>> nirvana disappeared. yes and no i accepted this because most of the principles which the buyer had number one and number two was an adjustment i got calls every day may be hundreds of people because we have thousands from hundreds. did you read into that i don't want any trouble, i don't want to be another red lobster or a bankruptcy. >> i thought about the every day that i was in this business because they came from there i came from nothing and came from something and i never want to go back to nothing, you're running for your life if you will because today it snows and we have no business we added 2 million other week payroll and another million dollar a week of food cost and those don't change
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whether there are some storms. i always felt like i was running for my life i didn't sell because i wanted to i sold because a strategic acquisition. >> tony fauci is being grilled on capitol hill, it wasn't only him and all that stuff, you know how this goes, looking back at that, could we have handled that better for your industry and everybody else. >> honestly i don't think so, everybody is second-guessing, people were dying left and right and i remember driving down the west side in seeing the tractor-trailers with bodies in them and the morgues were full, it's easy to use later to say we did the wrong thing, when we were dying is the right thing, i lost some people that died, not many fortunately, two out of 5000. neil: you forget the time and the environment that this was going on. from any emotional event, any death, easy to second-guess found s dr. fauci but what are e
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going to do he was in the war at the time. congratulations again. were getting friends left and right with how wealthy you are. , think tank one of the best of the best on this industry and remembers his roots, as does my buddy robert gray, hurricane season is on right now, everything that i hear you're in key west florida, it could be a doozy and for a lot of new folks who settle their, this is a big wake-up call, big time, over 1200 people a day are moving to florida and welcome to key west florida where the weather is great and vacationers are out the southernmost point of the united states except for the problem but the forecast by noah for hurricanes is amped up an unprecedented, look at the video from the past in hurricanes and
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south florida 17 - 25 hurricanes are predicted by noah and of those 17 - 254 - 8 are expected to be major hurricanes in major meaning category 3 or higher category 3 or five those are catastrophic scenarios and the reason why this is a historic forecast because the waters behind me in key west in the atlantic side in the gulf of mexico are sitting at temperatures in the mid 80s we normally see temperatures like that in august, we are way ahead of schedule. on top of that noah has also have comprehensive reporting by scientist saint sea level rise is an issue right now and we could see up to a foot of sea level rise in the peninsula of florida in the next decade and what that means when those hurricanes come in with the rapid intensification and storm surge that pushes and makes the
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disaster even worse crossing our fingers here in key west work and h as week one of hurricane season begins on november 30 people should be prepared i'm on my way to miami and i'll be reporting there tomorrow and fort myers beach that was devastated by hurricane ian two years ago. neil: robert be safe, a couple of million people moved to florida full-time or part-time until the last couple of years this is all new stuff worrisome at that little bit worrisome is the dragon of the major markets, the dow was session lows even the nasdaq is giving up the ghost for a while it was in positive territory and giving up some of the gains right now but not all the chip stocks are folding right now nvidia is bucking the trend we will explore after this. ♪
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is. >> the market can take it as well as give it in new chips early on and trading now selling off and nvidia is one of the few bucking the trend back with kenny polcari, mitch rochelle how do you play the magnificent seven of chip and technology gain it's not for the faint of heart. >> i think you have to ride the nvidia train before you have to do it. i've been an intel holder since the pc was basically invented and have gone decades watching the stock lot line. i think many of the chip names get caught up in the headlines of nvidia as this seems cheaper let me buy that one, the fact of the matter and it's on the cutting edge of the technology that makes a.i. possible. if you believe in a.i. in the
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place in the stake in our future in computing you have to ride the nvidia train. >> customers are paying customers so they are paying for something that might not pan out but they believe it will for now. >> i think absolutely will there's a conference going on in taiwan where they made the introduction of the 2026 chip i think it's called ruben next year they announced the 2025 but like you said every 12 months of the new chip to introduce that chip and the introduce new software and tools, this trade is far from over i think were very much in the entry stages of a.i. and nvidia into mitch's point i think you have to write this. again without necessarily being overexposed but you have to have megabyte on the train. >> should technology be part of the portfolio in the broader sense? >> i don't think you can avoid
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it that's was moving the market, to go back to something that kenny said i used apple as an example and as it doubled and tripled and kept going up everybody became overweighted the apple and a lot of investors you'll see if you look at the long-term chart at apple was great news story and people started chatting from their portfolio but would you look in the rearview mirror you regret doing that isaac is unavoidable to be overweighted in tech you don't want to be overweighted in my name. >> i don't like when you mention words like overweight. i get what your point is, thank you for the breaking news we are still watching, the big issue going on with dr. fauci it is unending but the following in the next hour, taylor riggs and "the big money show". taylor: we call yo

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