>> welcome to "lunch money." i am adam johnson. in shock, we are in the final hours of the holiday but buying season -- holiday buying season. a wild card, you better keep your bitcoin safe. i learned the hard way. rodman is star dennis returning to north korea. do not call the skied ambassador. -- do not call this guy in a datacenter -- an ambassador. i will freak -- a wolf is coming to wall street.

we are to caprio and martin's worse is will tell their story. familynt obama and his are in honolulu. year. had a rough bosch wrote -- rollout, and is a spying revelations. all of those issues hanging over the white house. it can all be bad. is been good action taken by congress to eliminate the fear about the budget. reduce the sequestration. we have seen the fed having taken some very well communicated action concerning the tapering of a program. those are good signs. in addition, we have seen some good numbers. >> good numbers for sure. we're talking about 4.1% economic growth in the fort -- in the third quarter. imf and itsthe leader christine lagarde raised

its forecast for the u.s. growth next year and that means this. >> confidence. it is always a question of confidence. if you long-term confidence in your job and your employment status and economy and politics -- it is all about confidence. there, youfidence is will find people borrow more money. >> barring money does help the u.s. economy but is it really what needs to happen? is the deadline for individuals to enroll implant the beginning january 1. one website appears fixed, people are fine -- people are finding out they do not qualify for subsidies and have to pay more than they are comfortable with. >> some of the states have been recording that the people who enrollingg -- you are are skewed to older, less healthy individuals. around one million people have signed up since her role it started back in october 1.

the administration wants 7 million signed up by the end of the period. another issue -- the president will have to face the continued fallout from the nsa spying scandal. an independent report said the u.s. should be prohibited from collecting and storing billions of phone records. the surveillance should continue. here is the president speaking last friday. >> we need this intelligence. we can't unilaterally disarm. there are ways we can do it that gives people greater assurance that there are checks and balances, sufficient oversight. as important and as necessary as it is alsohas been, important -- important to keep in mind this has done unnecessary damage to u.s. intelligence capabilities and u.s. the plummeting. i have confidence in the fact the nsa is not snooping around

but i recognize as technologies change and people can start running algorithms and programs information all the that we are downloading on a daily basis into our telephones and computers, we may have to refine this brother to give people more confidence. >> that is for sure. the former head of the cia was on that white house panel. he is in the president's corner. >> there was no abuse year. they were doing exactly what they were told to do. int the panel is saying order to better protect privacy and civil liberties, we believe two things. we believe the government should not hold this data any longer. we say the government should not hold this data. somebody else should. >> google, facebook, other internet companies have been protesting the nsa surveillance of the customers. we have found they also making

billions mining that same data. companies may $166 billion last year. why is it then that americans are ok with companies making money off the data, but not court the government -- cool with the government? >> they don't know what they are consenting to but at least they went through the formality. they are putting all of this information up there voluntarily. for the government, it is accommodation of ignorance in court in -- ignorant and coercion. it is also big brother. the company is not likely to come to your house and arrest you. a company does not have the resources that the government has. >> that is the traditional argument. oly.government has a monop this economy has exploded in the last 20 years.

it has gone so quickly, it has grown so fast, driven by their embedded -- by the investment banks. the only way they can effectively monetize the data is by selling the data. >> how much different is what they gathered in what the government gathers? does the government know about you? >> independent they are investigating you are not. if you have not done anything wrong, the government as a practical matter does not know anything about you. if you are using any of these internet-based services, the services know everything you put on there. anything they can correlate with any other service is voluntarily cooperating with sharing your data and creating a common composite picture of you. >> in case you're are wondering, facebook makes at least one eachr $65 -- $1.67 from of its user.

makest, facebook could about $27 from a female who has to wonder if the friends and posts 150 times a month. private equity is making some money with the american single-family homes. you had to take a look at this. we are in the final hours of the holiday shopping season. procrastinating? it could turn out it is the best way to go. beyoncé is spreading some shopping goodwill at a walmart in what -- in massachusetts. she got on the stores loudspeaker and offered to pay the first $50 of every customers holiday shopping. ♪

>> is your second last data by your presence and apparently you are buying.

spending rose half a percent in november in november and confidence is rising to a five-month high. the tumor spending account about 56% of u.s. gdp. we are talking about men wear -- men's wearhouse, its takeover bid for joseph a bank was officially rejected appeared they say they are not interested. 23 tell winners and losers this holiday season. he has there down his list and we will go through both of them starting with the losers. >> they are cutting working capital, they raised stock dividends. leadership has been lost. that is the wrong way to go. >> in this holiday shopping season, is it because people have migrated to other stores or online orzo because we are not just shopping? >> domination of the two. -- combination of the two.

walmart was notorious for having doorbusters. people saw that people were going in and the doorbusters were out of stock, the re-freezing for hours. people said they were not shopping there anymore. they would go to macy's or someplace that is in stock or we will go to amazon and shop online. that is why they are reporting that internet sales are up 25% this holiday season. in addition to the big-box stores that are getting pounded, jcpenney's, sears, new here department stores. >> that has been painful. if those are some of the losers, who are the winners? >> destination malls are working but you have to have great retailers. you have three to four times more retail square footage in the u.s. that you have in other developed countries. bloomingdale's is doing well. burberry is doing well.

makeose are the guys who my watch. the most important factor to getting answers the by the season. >> this weekend was a pivotal weekend for retailers. it ends up being the top shopping days of the year. in chicago, we saw a great amount of foot traffic up and down the streets in many consumers carrying packages so it felt like a good week. today is an important. day. this is when the male shopper finally gets into the pattern and try to complete his holiday shopping. the day after christmas is always pretty strong. what we are seeing right now is about two percent increase in sales last year. we were protected -- projected at 2.4%. we may strong sales and we are

fairly confident the consumer really went out and try to finish the holiday shopping this weekend. >> it seems like every single store has a coupon, it are broad -- the promotion, a black friday, i cyber monday. -- a cyber monday. >> we saw some heavy discounting during black friday and that whole weekend. reese also discussed rolling through this weekend but we expect the largest discounts to come after christmas when we will begin to see retailers trying to set themselves -- shed themselves of inventory. >> remember with big crowds comes big response ability. -- responsibility. target's credit card and debit card information may have been wrongfully accessed so citigroup is making -- chase is putting limits on debit cards use at

that store. they benefited from a collaboration with pinterest. with chang went to target a pinterest employee. >> pinterest is featured inside of target stores. show me how that works. >> they are calling out numbers -- items that have been very popular on pinterest. they are saying they love this forrug. it is happening over and over again. they made the sign it on their own to call out the items that users have decided on the most popular. popularf the most pinned items this season is out on the shelf. i don't know a lot about this. apparently this is a big thing with kids.

on the sure everyone is nice list. people fly back to the north pole every night and then fly back and then observe the kids again. it sits in some really fun places in the house. target has managed to catch some pictures over the elves sit. >> what are other retailers doing with their products? do you have any other stories where they have used pinterest in a creative way? >> a number of partners were using pinterest for their black friday and cyber monday strategies. boards they created some that showed silhouettes of items that were about to go on sale. >> it is just starting to it experiment with ads but you see an opportunity down the line to make money through e-commerce to

take some sort of commission on the sort of think people are buying/ ? >> we are doing some testing right now. the idea that we will work with partners to test the system. we are seeing how do our users react and what kind of results drive our partners. we will think about a business model heading into 2014. >> facebook has been experiment in with commerce for a long time . how do you stand out from other options out there for potential partners? >> they think a buzz as the consummate to google. if google is really good -- if someone knows they want something, they can search for and find it. the other side of that is i don't know what i want, i don't have a well formed idea, when i see it, i know i will like it . when you see it, you wanted. that is the experience we are trying to provide.

>> here is one thing people want and i know because i was robbed on air. i will fill you in next. the wolf of wall street is back -- is back. as we had to break, wall street is not the only potential road to riches. in spain, where unemployment is 26% people are turning up in droves to play the annual christmas lottery. winners were announced at a theater image read -- image read -- in madrid. more than $3 billion was paid out. ♪

>> put the monday before christmas and it is day 11 of bloomberg television's 12 days

of bitcoin. we talked about how bitcoin can use the buyer real stuff -- by real stuff and matt miller gave me a unique christmas gift. >> here you go, adam. trish, here you go. you will find a private key on the inside that you can access and load into your wallet. >> this is what i put on my phone so that when i want to go sell, i put this up on the computer and it knows to debit my account because that is my count. >> that is my count and a $20 gift certificate should be sweet. i lost it. you can't let anybody see your own account. that is private. what happens is if somebody has access to your private key, that person is then able to access

your wallet. each one of those little wallets that i gave to adam and trish had about $20 on it. that, ther we showed internet lit up, mostly twitter and reddit. i can't some -- i can't believe somebody showed his private key. reddit, i te on saw it. i took a screenshot and immediately emptied the rock -- the wallet. the guy said he would be willing wegive the money back and still may organize something like that but i told him -- >> did he? >> econ is great lesson in bitcoin security soap -- so keep the cash. i wanted to point out -- a lot of people thought this meant that cornwallis is insecure --

bitcoin wallets are insecure. if you were to show your internet banking username and password on live television, you would not do that because you know, you have been using the system for so long, you realize if you did that somebody would probably be able to get into your bank account and anti-it -- empty it. >> now there are more wallets i need to keep secure. >> a lot of people feel these alternative currencies are a bit of a scam because it has become harder and harder to mind bitcoin -- mine bitcoin. a lot of other currencies have popped up. they are easier to mine and make money so the idea, at least among the serious bitcoiners, that people are just popping up to get rich quickly and not really as concerned with the movement of visual currency --

digital currency. >> and there are those who think bitcoin might be a scam and those that think that others are a scam. can be a scam, it is that maybe there are skit -- scam artists using it. there are so many others -- i think at last count there were 35 or 40 alternative coins. the website shows you all of the possibilities. there are other websites. doggyr of my favorites is coin. it is interesting. there is does massive advantage that bitcoin has over the other currencies. it has been around longer. the total market cap is something like $7.5 billion.

that is a lot more than the other point added up together which all operate almost exactly on the same principle as bitcoin. >> tomorrow we will wrap up our 12 days of bitcoin. -- we have an adventure that matt miller is only capable of. prisoner is fresh out of custody. thing is your own backyard. we will explain.

>> this is "lunch money" on bloomberg television. we also streamed live on your tablet and smartphone. i am adam johnson. the video is the story. a massive ice storm blanketed of thealong with parts northern united states from michigan to maine. than half a million households lost electricity and more than 400 flights were canceled yesterday. in thailand, antigovernment protesters try to block politicians from adjusting for february's elections. the prime minister has called for the elections. he is trying to diffuse tensions after weeks of demonstrations.

the final jailed member of russian punk band "pussy riot" has been released. she announced her ends the -- she denounced her amnesty. members of the band had been jailed for staging a protest performance in a moscow cathedral. the country's former wealthiest man is also free from prison. he will now campaign for the rights of political prisoners although he is rolled out a role in russian politics. i do not want to be seen as a symbol for a particular situation ignoring the fact that there are more political prisoners. i want to be seen as a symbol of the efforts of civil society that can lead to the release of people whose release was not expected by anyone. >> he also said that although it is not safe for him to return to russia, other countries should not boycott the winter olympic

games. to the question of sochi, it is a question -- a celebration of sport, something that millions of people will celebrate it should not be damaged by boycott. the events should not become a great party for president putin. >> now to a billionaire who still has his money. sheldon adelson says he will spend whatever it takes to persuade lawmakers to block rollout of online gambling. he spoke with our middle east editor. >> i will spend what it takes to get the point across. it will not take a significant amount of money and in my position, whatever it takes is ok. i am very much against it. i am morally against it and i think it is going to kill the entire industry. it has the potential to kill the entire industry. it is artie doing that in europe.

-- it is already doing that in europe. internetady allow gaming in europe without consideration of land-based casinos. >> it is self preservation. >> that has nothing to do with my business. i am not in a category where my customers are playing on internet. we take bets that are quite significant. we take bets up to $1 million in hand -- a hand. >> that is big money. dennis rodman korea earlier today. you went there to train that ballplayers for next mission game. -- for an exhibition game. i came over here to meet the basketball team, to per pair a , and game for his birthday people need to understand it is

not important for me to meet him every time i come here to he is a greater job to do for his country. i respect that. hopefully, kim jong-un's birthday is blended because we all know their primary problem is that you have enough basketball. private equity firms are snapping up real estate from soccer moms. holy, hobbit. we will hear from the guy responsible with the best for the special effects of the one the most successful film font choices -- film franchises in history. peyton manning is reclaimed his nfl record for the most touchdown passes in a season. that breaks the mark of 50 set by tom brady in 2007 and brady set that record by breaking manning's reviews record of 49. i love this. ♪

>> and properties, the largest physical asset class in the world -- want to try to take a guess? american single-family homes. it is not american families who want him, private equity firms are jumping and capitalizing on low prices trying to build housing market. is workingn how it in one atlanta suburb. >> outside the courthouse in georgia -- >> $110,000. >> the prices may 1 seem high. this is a bargain. on a block of homes that have been seized by a bank, it is bet onf an enormous some of the hottest new class -- new asset classes on the street. it includes blackstone through

its subsidiary imitation homes -- invitation homes. many of the houses they are buying up were until recently homes belong to families like these. devin struggling with the monthly payments when they requested a third mortgage modification from the lender, citigroup. >> we didn't even know about . >> it was just the day's notice. they sold their home to the highest bidder -- blackstone. guard ine caught off general. no notice. >> this woman acting as a it wasy biodder -- a doesn't bidding -- a dozen

bidding victories for her. the firm purchase more than 170 homes. thanks to the rapid foreclosure process, blackstone's invitation homes have dominated these options buying 2000 properties in this county alone. and nationwide, in cities and subsidizes -- subdivisions, these investors are placing large bets on single-family homes. >> the major players have put in 20 million to acquire north of a hundred 50,000 homes -- north of 150,000 homes. you can buy thousands of homes in nearby locations that makes the economics of servicing those homes feasible and also aggregating large portfolios. do not pay the mortgage on time, the lender forecloses on the home and selden at auction.

-- and sells it at auction. it --dition company mps mps it in a leasing -- mp it, and the leasing agent rented. they can bundle them together, price them, and then sell them to other investors. the number of american rental homes have jumped today which is boosting demand for single-family homes. blackstone operative that them stay in the home as renters but for two other dollars more -- but for $200 more than the monthly mortgage they cannot afford. >> it is not worth it to us anymore. i would rather rent. i never said i would say something like that. >> it is this tough new reality

for many on main street that is created a profitable new business for the few on wall street. he found out that one private equity firm offered a family $3000 just to leave the house. so much for the american dream. he made millions and a pump and dump scheme, we hear from the real world of wall street. winning at2 is the box office. we will hear from the man who did the special effects. two american astronauts were racing through time and space trying to remove a broken cooling pump that jeopardized its operations. what a view. ♪ >> there we go.

i will release my grip. >> copy that.

>> this is "lunch money" on bloomberg television and we are streaming live on your tablet and smartphone. avies today, we will take look at the weekend box office winners. -- the hobbit took first place and that was for the second week in a row. the number two spot went to anchorman. million.in about $26.8 even with anchorman as popular as it is, it is still hard to compete with the lord of the rings series.

awards and academy three of them for special effects. the man behind those effects is here. park inwe did jurassic 1993, there were 55 shots in the film about dinosaurs and that took us a year to do. we have about 2000 shots in this movie. the appetite -- and what audiences want to see keeps getting bigger and bigger. >> what about the budget because when you have to propose a in the darkt a stab or do you actually figure out to the dollar how much it will be? >> what we create is interesting isause every shot that we do really unique. there is some similarity but everything is a custom-made piece. >> does the director say, here is what i want. bill deforming. -- build it for

me. >> it is always story driven. we always try to find ideas that will theme the next development of the story. with the hobbit, we know the story and we have some time to prepare. >> is this a safer investment than the actor? to be films that audiences want to see and we enjoy making them so for us it is working out. >> another film slated to make a big splash at the box office -- the wolf of wall street. it stars leonardo dicaprio. dogas the one timeout the -- one time out foalpha dog. >> my name is jordan belfour. was 26, ie -- when i made $49 million.

>> i brought my insanity with me. in the movie, hopefully they will get this cautionary tale of a blooper of what not to do and what to do. when i was at the bottom and everybody was writing what a terrible person i was, i would not as bad as people were saying. >> greed for lack of a better word is good. >> i never want to place blame on anybody especially a fictional character. he looks sexy as hell with his $2000 suit. a lot of people bought into that notion that it is noble about making as much as you can and are really focusing on who gets hurt along the way. that is not true. i wasn't really focusing on the reality.

i am not making any money on the books or the movie, the only way i will is everyone -- is that everybody makes money. as a brokerage trader, you are not creating, you are trading the ingenuity of other people. -- there is nothing tangible attached your profits. you try to attach value to it . i try to make sure i stayed on the path of focusing on the value versus instant gratification. >> here is the one that played belfour. dicaprio was on charlie rose. >> this is a satire and a dark comedy.

we take a funny approach to this but ultimately we are talking about a serious subject matter and a represents something that is within our very culture. >> winners and losers. people get hurt and people make money. >> i never thought of it as a satire. their own life was a satire in a lot of ways. is not to my feeling separate yourself, this is it. this is the mentality. we were pushing it but believe -- we justldn't scratched the surface. the story we could've told her whatever. what i wanted to do at that point was if you cannot tell at all, compress them in such a way that the audience will be into the maelstrom of this kind of thinking.

>> is expected to taking $25 million in its first weekend. today's mystery meat may net -- may not rake in $25 million. students at this high school in texas have a unique way of saying merry christmas, ya'll. >> merry christmas. [laughter] >> what is that? >> my favorite christmas memory is -- >> my favorite christmas is my first year being a -- >> it had to be when my first christmas was --

♪

thes approaching 56 past hour and that means bloomberg tv is on the markets. let's take a look will be closed the session because quite an update for major averages. work&p and dow closing at new records -- new records. the imf is going to raise its

growth forecast for the u.s. economy next year. the previous forecast was 2.6% so that will help fill some of the gains today. apple finally signed a deal with china mobile. twitter's ipo led the way. ir more on the environments, am joined by leslie ticker. what was it with the ipo renaissance? was it about the stocks buñuel overall -- stocks doing well overall? >> stocks heavily influenced the ipo market. they are able to take advantage of these markets and get better evaluations as stocks increase. encourage investors to buy into these investors because as they look to outperform the general benchmark, ipos are a good way to do that because they are riskier, they are untested,

untold stories, but it is a way of getting back was increase returns. what was behind the ipo for not him on -- phenomenon? ipohis year was a record pop, the most since 2000. average ofook at the the first-day performance. >> venoco -- the companies were increasing on average 21% on the first day of trading which was the most since the.com bubble. stocks have the most liquidity day one and so investors like to get in on that day and make certain trades. with the incredible demand with these companies, that day we saw some incredible performances. >> there has been the word bubble. what about ipos in particular

with this kind of performance you are talking about? >> the performance is very strong on day one but to keep in mind, it is not as strong as in 2000 when they saw 65% gains. they will also point to sector diversification. back in 2000, it was mostly tech companies that were able to do an ipo and increase strongly on the first-day. now anything can go public -- energy and technology and financial services. we are seeing a broad sector to go public and everyone is performing pretty strongly. >> is this going to keep going? >> it is tough to say. that $225told me billion worth of bike -- he is expecting for next year. that is more. we see some pretty big companies do -- looking to do ipos potentially next year. >> let's talk about ali baba. that is the big one.

.> that would be huge bigger than $16 billion. we are looking at $200 billion valuation and hold up is where they will list. >> a little suspense for 2014. i like it. thank you so much. for on the markets, i am julie hyman. ♪

>> the product that we offer is the same worldwide. the ambition in this nation is to do the best coffee in the world. i think it is certain asia will become one of the largest coffee-consuming regions in the world, because coffee grows proportionally -- coffee consumption grows putting personally -- proportionately with the increase in disposable income.