nice job this week. >> come back again. okay? >> okay. >> that's it for "power lunch" for this week. >> have a great weekend. stay with cnbc. "street signs" begins right now. and welcome to "street signs," everybody. have the clouds lifted for your money? were they never that dark to begin with in 2012? stats that may surprise you of returns so far this year and is wall street down right ant anti-social from the face plant to the drought, why investors are turned off by the social media set. plus, a look inside the yacht wars of the world's super uber rich and loads of things coming your way. down the markets. here's the market stat of the day. this year, it is actually been great for stocks. just take a lock at the charts.

for of the complaining and the concer concerns, the dow up 7% in 2012. the s&p 500 is up about 10% year to date and the nasdaq is up about 13% so let's get straight down to bob and rick on the markets. you know, bob, i know you have been covering the unconfirmed comments that have been made by the ecb's draghi. what's the role it's been playing? >> it's a huge role. up 115 points, little more than 45 minutes ago and the dow essentially doubled. unconfirmed reports. you think mr. draghi is talking to the head of the bank? that's a normal course of conversation to me but there you go. 115-point move essentially in the dow and not confirmed anything they have been talking about or that they had been talking and certainly there's an action likely next week from the ecb of some sort, bond buying, a rate cut. we don't particularly know. i want to point out a great -- not a fabulous year but a good

year so far because people seem to be pessimistic about the marks. up better than 6%. up 8% on the s&p. the nasdaq is also having its best seven-month year to date since 2009. take a look at since june, big movers commodities. stocks in the middle and bonds under performing and finally note here that in terms of where we have been, the risk-on trade is back a little bit here. take a look at the energy stocks. biggest move since the market bottomed in june. the aussie dollar the biggest currency out there and industrials and materials remain the most shorted sector and as a potential to put more money back in the market because eventually those shorts are going to have to be covered. not trying to talk up the market but point out there's pessimism on the market and so far it's not a bad year in terms of performance for the u.s. markets. mandy? >> always good to put it in contest. thank you very much.

let's get to rick santelli. now after the draghi comments, what is it? three-week highs now? >> well, you know, right now at 156 which is almost a 160 in the 10s, these are the highest rates should we close in this zone since the 5th or 6th of june. i want to talk this little apparatus right here. this is the ecb's best friend. inde indeed, whether it's draghi comments or the comments today and i think there's more, because this is working so well. i'm not dismissing the fact on thursday to see more bond buying, more ltro announcements but remember this. in the end it's about stabilization. not addressing unemployment in spain and also remember our balance sheet here is a whisker under $3 trillion. the ecb's balance sheet is a whisker under $4 trillion. so it's about a trillion bigger so i don't know how this is going to turn out but

stabilization is going to have a hefty price and if it happens, it's going to show up on that balance sheet i just referred to, mandy. >> absolutely. guess what? a microphone is an anchor's best friend, as well. breaking news on the budget of john harwood. what are we hearing? >> reporter: the mandy's office of management and budget projects in the mid session review that the 2012 budget deficit will be $1.2 trillion, that's slightly lower than the $1.3 trillion they projected in february. they also say that the deficit will be less than 8% as a percentage of gdp. it was slightly more than that in february and a bit of political advocacy saying that economic growth in 2.3% passing the president's job proposals. they haven't and second quarter growth as projected by the government today will be 1.5% which suggests that the economy is slowing and needs a boost. back you. >> of course. in the meantime, just how long can this little mini summer

rally last? joining us from philadelphia, hank smith of haverford and adam grimes, chief investment officer at waverly advisers. thank you for joining us today. hank, you first of all. okay. we have had a little mini rally. this is good. might be only due to the central bank put. but whatever. setting ourselves up for disappointment? >> i don't think so. look. valuations are still very, very attractive. dividend yields are attractive in here and as bob pointed out a few minutes ago, there's still extraordinary pessimism out there. there's a llt of fear. there's a lot of anxiety reflected by the cash on the sidelines and the trillions of dollars that have gone in to bond funds in past five years. that all is fuel potential, potential fuel to further push equity valuations higher. >> adam, do you think there's justify kagts for the pessimistic sentiment out there? >> yes. absolutely. from a longer term perspective, we love the pessimism.

we want to see a wall of worry for the market to climb and we see a bullish attitude. >> how do you set yourself up for that? >> our concern is that in the near term there's danger and seen today market s extremely reactive to rumors. i think our concern is over the next several weeks, certainly through august, we were cautioning our clients to be careful of weakness. focus on individual names that you want. we don't see any tactical cues to pick up the broad market exposure, sector exposure. keeping the big picture in mind, the bigger picture, bullish set-up in mind but really focusing on risk management in to the fall and we'll see where we end up. >> in terms of deploying money here, hank, how are you getting on board with these draghi comments? are you riding the risk-on rally here? >> well, fortunately our po

portfolios are balanced between offensive cyclical issues, risk-on type stocks and also defensive names in sectors like health care and consumer staples and think that's still an appropriate strategy and also we're focusing on dividend and dividend yields that gives you nice cushion in the case -- in case you have pullbacks. you have a nice income stream from equities. >> a better dividend than the 10-year bond anyway. thank you very much. hank, adam, enjoy the weekend. new gdp numbers this morning not stellar. enough to bring the fed back in? will the economy lose the steam of the first quarter? is this as bad as it gets or americans bracing for a rough and tumble second half? joining us now is steve rachido. steve, before we get to the u.s. gdp issue, i want did draghi comments and these are unconfirmed but if indeed there's new bond buying, rate

cut or various other meshes by mario draghi at the ecb is this something to make a significant difference to the u.s. economy? >> the answer is no. it's not going to make a significant difference to the u.s. economy or the financial markets either. on a multi-week time frame. it will on a day-to-day time frame. nothing more than that. central bankers doing for last two years have failed to have a permanence and the net result is interest rates moving lower. i agree the equity market done well and primarily of liquidity to the system but also because corporations buying back a good chunk of their stock, as well. so i think what we're looking at in here is basically an environment in which you have got to be very, very careful of what you bet on and betting on the central banks to solve the day with fundamental problems they can't deal with is a mistake. >> in which case, the fed, damned if they do, damned if they don't? they won't make much of a difference at this stage?

>> politically, to be honest with you, this federal reserve has to make sure barack obama gets re-elected. if not, it's in trouble with the incoming republican administration. >> hey, aren't they supposed to be apolitical. >> -- to get barack obama re-ele re-elected? in an environment like this, you can't be apolitical and they haven't been apolitical in the last year or so and i don't think they're apolitical going forward. >> steve, thank you very much for joining us. let's get a market flash with brian shactman. >> a slew of stocks gaining momentum and big names that had momentum before we saw the other leg up. look at shares of google. discussion today and chatter about how it reported its first quarter compared to facebook. we know the huge difference. up 3% near the highs of the session. near $19. back the you. >> thank you. coming up next, is wall street turning anti-social? well, if you got in on the facebook ipo, you have lost a

good chunk of change. the same for zynga and groupon. is the boom a bust? we'll debate that. plus the pawnshop pop. why secondhand stores are booming and what that says about our economy. the star of "pawn stars" will join us. you have to stick around for that interview. with the fidelity stock screener, you can try strategies from independent experts and see what criteria they use. such as a 5% yield on dividend-paying stocks.

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welcome back to "street signs." a little more on the developing story of a meeting between mario draghi, rumored meeting we

believe we're confirming between mario draghi and the president of the bundesbank and a spokesperson saying they have reasons to talk. what's unclear at this point is draghi talking to the head of the bundesbank because they agree or disagree? the bank has disagreed with a lot of the ideas that have been out there for saving the eurozone, especially those with the ecb taking a quantitative easing stance. so the question becomes, is draghi giving weidmann an earful? you remember this comes from comment that is draghi made yesterday that made markets think there's actions coming from the ecb next week. >> what's your hunch here, steve? getting a hunch germany is coming around to the ecb's way of thinking? >> draghi spoke in a way that made the markets react strongly. they did not correct those remarks today. there was no walking back.

okay? now, the question becomes, did draghi go out on a limb here or say what he said, mean what he meant in a way that had the germans on board or not? i don't know draghi's leadership well enough. it would have been a mistake, you could say, to go out that far on a limb, have the markets believe what they believed and not have the germans on board with an idea of additional actions next week. am i making a bet that draghi made a mistake? i would say, no. i don't think he did. i'm thinking that the guys are hopefully on board with the same page here. >> so much at stake at the moment silly for draghi to kind of like speak casually. >> yeah. if he has to walk back, that's a bigger story next week than whatever they announce. >> absolutely. thank you so much for that, steve liesman. social media stocks getting slammed in the wake of facebook and zynga's less than stellar earnings reports. down more than 5% on this week alone so is wall street turning

anti-social? just look at how these social media stocks have done since the ipos. zynga, groupon, facebook, pandora all down digit digits. joining us is evelyn rose well and a contributor and evelyn, let's start with you, first of all. the numbers aren't pretty. would you say that the stocks are down and not yet out? >> i would n't call it a bust. i think it's an issue of expectations. you know, facebook may not be worth $100 billion according to wall street anymore but it's valuable and still worth more than $50 billion. churning owl real revenue and there are real concerns of whether or not they can grow mobile, whether or not they can have, you know, all of this advertising that's on their platform and they encourage more and more retailers and other companies to join on board. >> we're still seeing, though, a lot of wall street firms with buys and holds on a number of these stocks. not a huge amount of sales out

there yet. to what extent do they have to ratchet down the estimates here? >> in the coming quarters a pullback because expectations were so high. the stock trading at roughly 50 times 2012 earnings or so so near term there's not a magic turnaround with a rocket ship of growth. right? it's incremental movements for facebook and that probably won't be able to be justified in the high valuation, some of the analysts are looking for. >> well, they're at the valuations and i know rocky is waiting and rocky will agree with me on this because they got too high to begin with. the hype surrounding the companies. not saying they all obviously problems with them. facebook. we don't know. we won't know for several years. rock, what do you think? >> well, actually. i think there's only 7 billion people on the planet and only grow so much. the companies had the peak growth before they went public and you can only grow so much without exponential population

growth. meantime, you come up with new products, new markets to serve. >> i think that was the key problem here because you saw the early growth of facebook and a lot of investors assumed that will continue to happen but even though a lot of companies these days can grow so rapidly they reach kind of a satch wags point more rapidly. >> when you knew it was peaked before all of this happened when they came out with the social media fund, that etf was the classic indication -- >> of a market top in this particular sector? >> absolutely. >> twitter, i would imagine, can just kind of biding the time watching this all of this, putting the feet up. what were they going to go public 2013? do you think they'll push it out to 2014? >> i think they have to. some sources were saying before the facebook ipo twitter considering going public around 2013 but when you see the pain, why would you want to go out any time soon? >> who survives, rocky? who fails and survives here? who's boom? who's bust?

>> long term facebook is a great company but judged on too short a time horizon. we'll look back and say facebook is a fantastic company. groupon is a terrible company. they're down about 67% since their ipo. they're just fundamental business models problems here. >> do they go out of business? >> i think within two years groupon will cease to exist in that current form. >> there's analyst with serious questions of groupon i think yesterday. >> what about zin yeah ga? rocky, do they survive? >> i think zynga will survive. it's a smaller business than it is today. >> pandora? >> pandora's core problem is they have incredible amounts of usage and can't sell enough advertising and need to grow the advertising faster or lower the costs. i think they have pull it off but it's up for some debate. >> i am actually a very loyal and faithful user of pandora. i love pandora.

would you agree with the assessments rocky gave? >> i think that -- i don't know if i quite agree but that's skepticism, that sober look is the right way to look at this. for example, looking at zynga, more investors and analysts showing it's a hits-driven business, the next generation will not do so well. >> thank you for joining us. thank you, as well, to herb. just ahead on the show, lots more to come. we're going to be talking about pawn stars and the ceo of meritage homes. they build in some of the hardest -- >> pawn stars. >> p-a-w-n. this is a family show. stick around, everybody. >> we're going to need a bigger boat. >> a bigger boat is needed. a mega yacht war is coming back your way.

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just not drinking enough caffeine. disaster for starbucks.

down 10%. when's going on here? >> it's interesting. they're talking about the consumer. especially in the u.s. especially in june. blind sided them and what's interesting listening to the call is derivative play of this relates to green mountain with earnings next week and talking about on opgs action tonight. i want to tell you. it was howard schultz's comments and said, you know, he was talking about single serve and expecting further growth because of, you know, the new packs for green mountain's new brewer and then said -- this is it. i could not be more enthused and excited about our premium single cup category innovation that will be a game changer of the sing single-up adequate gory and then an explanation of how great the system will be and initial orders are tremendous. was he sticking it to green mountain? that's the way it sounded. >> yeah. and also, hit by the european

crisis, right, closing out nonprofitable stores in europe. but they'll not immune. >> i have to tell you something. he's basically doing it in europe what he did in the u.s. in the down time when nobody's watching. reassessing it because the economy is so terrible there. >> not a cheap cup of coffee. >> talking about the economy over there saying that's what they're going to do it and wonder if something else is going on over there. >> lots of questions. okay. meantime, the mega yacht wars, they're back. a super rich buy we are a boat nearly as big as the cruise ship. robert frank is here with us. robert, who is this mystery buyer? who has that much cash throughout? >> we don't know but this is a very big boat. this mystery billionaire is building what will be the largest yacht in the world. how big? 590 feet. that's nearly two football fields. about the size of a cruise ship. super yacht times tells us this boat is called azzam.

this boat is delivered in 2013. the builder is not saying anything about the owner or the project. industry insiders tell me the buyer is from the middle east and the cost is more than $500 million. now, this boat will also be very fast. as you can see from the picture from super yacht times, four holes in the back for jets. so it's not going to be propeller based. going up to 30 knots. until now, the largest boat in the world was eclipse owned by roman abramovich. before that, rising son larry ellie son of 454 feet. today, rising sun is only ninth in the world and shows with mega yachts these days, size really does matter. for more on the yacht wars and some great pictures of some very big boats, we've got a good slide show and a story on cnbc.com. mandy? >> if size really does matter, how big the boats going to get?

i would imagine there's competition with my boat's bigger than yours kind of thing. >> a little bit. basically, there is a point at which it's hard to dock them. there are marinas that don't take boats over 400 feet and super expensive. cruise over 50, 60 people. to fill the gas tank is more than $100,000. and larry ellie son traded down because he said rising sun is too big and felt like he was walking in an empty mall on his boat and i think at a certain point for the rational yacht buyer there's too big. >> i think the bottom line is you don't need a boat that big. >> no. >> you don't. thanks so much, robert. staying on the high seas now. a giant lobster will live to see another day. 17-pound larry the lobster on the menu at a connecticut restaurant. the owner of a local boat dealership swooped in to save the day. he couldn't bear the thought of anyone eating larry and set him free in the ocean. he wouldn't say how much it cost

but only the most expensive lobster that he's never eaten. hope larry lives another day. lucky larry. coming up, a head scratching edition of "street talk." if all signs point to another slowdown, it's news to this list of stocks. has there been any slowdown at the pawnshops? we'll find out. [ female announcer ] the next generation of investing technology is now within your grasp with the e-trade 360 investing dashboard. e-trade 360 is the world's first investing homepage that shows you where all your investments are

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another edition of rally stocks on "street talk" day two. wonder if monday is three. a lot of new highs driving the market today. costco shading a few bucks short of a hundred dollars a share. this is consumer staple city? >> they'll show me.

they have questions of a margin. baby boomers like me not spending as much. when's interesting and remind people, if you take a look at the two companies, look at the sales growth and same store sales growth. the stocks are at all-time highs but going in different directions with costco sales growth falling a little bit. walmart's looking better. >> what's interesting about walmart, it is like bribery, scandal, what bribery scandal? rear-view mirror, right? >> a blip in the history. >> meantime, expedia flying high today. a new all-time high, isn't it? >> new all-time high. trying to figure it out. and then i looked. keep eye on the earnings and margins because the way these guys report earnings, all about bookings and this and that. you have to watch. though the growth on those lines, slowing a little bit. so you just want to see how the guts and the profitability of

the business is. sustain bring going forward. >> do you use it? >> i don't book through them but i think people are more comfortable with alternative services and obvious by this. >> moving on. you know, the economy's clearly not stinking at all in the magic kingdom. disney hitting another all-time high. solid for this company since october of last year. >> all i have to say other than the fact i wish i were at disneyland. this is clearly the happiest stock on earth. >> you and mary look great in the spinning teacup. >> we have been on the spinning teacup and dumbo and many others when our kids were younger. >> not a new high but stale fairly good week so far for monster beverage. >> suntrust came out with a report pointing out nielsen data and a positive spin and point out the good news is that their volume growth is growing. the bad news is sequentially

coming down. also -- >> i think overvalued? >> that's for others to discern. on a market share level, they are actually losing share to red bull. >> i'm going to break in here with breaking news. sue herrera, what are you looking senate. >> thank you very much. many of you probably familiar with chick-fil-a. the company is in the headlines because of its ceo's open opposition to same-sex marriage and giving a statement to cnbc, detailing the death of the vice president of public relations, don perry, with the company for nearly 29 years. they say they're saddened to report the news of his death. he was vice president of public relations. he passed away suddenly this morning and they say that they will miss him and their thoughts and prayers are with his family. mandy, back to you. >> okay. thank you very much for that, sue. we have jim cramer here or set. what was it that herb said that made you come snout. >> well, there's an angle to expedia i didn't know about that

has to do with the personal. yeah. a bunch of my friends of mine bought an inn. okay? trying very hard to crack in to how do you get corporates and corporations to book with you? we went to the -- called on the human resources, called the travel people. and it turned out that all -- just listen. you have to just get registered with expedia. they go in to the checkerboard of rooms and they book it. everyone saves a lot of money. corporations love to save travel money because they take care of everything, cuts a check. we don't have to worry about people skipping and this is a way for companies to save money. this is what you don't really -- this is a counter cyclical trade. >> do you treat your expedia discuss merles? >> i love them. >> what about the earnings? >> i pick up the bags like everybody. i'll be checking in people. >> what about the margins? don't you still have to pay athe engs to that? top line is looking good. you look down there. growing a little concerned with that. >> i'm just saying that as opposed to some of the ones more

individuals and related to travel, if you're a corporation and you have to have people traveling, expedia's the way to be able to save lot of money. >> not just expedia. they have a choice of different companies. >> this is everybody's favorite. from our point of view. m fire up the checkerboard to see how many people are staying overnight. expedia put people -- expedia booked book 14 and 17. view 12 by expedia. >> a corporate -- >> the check comes right in. >> the corporate part of the story misunderstood? >> yes. i never understood it until i owned this inn and new people working at companies. listen, why doesn't your travel agent call us? they said, travel agent? expedia runs all corporate travel and not one or two but three companies that just -- expedia cuts you a check. you never have to deal with people. you know? what happens is -- >> good to know. >> people skip on you. if you're a house person not there, they just check out and they haven't paid but expedia

pays you ahead of time. >> they give you a cut. >> they take their cut. they can charge you a lot. i'm saying this is until you got in the business i had no idea this is where they come on. >> thanks, jim. i want to quickly get in another stock on the list. d.r. horton. do you have a thought on that? >> 25% of increase of orders and the housing recovery on the new home guys. >> the housing vacancies are down. housing's for real. >> the profits, the quality some people taking a look at in their case with a big i think tax -- >> how good costco is doing and monster beverage? have we done those already? you had the positives. >> no, i raised a little bit thing about monster. a tiny one. i have a history there. >> starbucks to wipe out green mountain? >> you never know. stick around, jim. we have a home builder that's

booming and meritage after gang buster earnings yesterday. can the house party last sna sn this's the question. joining us from peex, steve hilton, the ceo of meritage homes. looking at the numbers here. highest home total order of four years. how sunibstainable is the stren you have been seeing? >> we think it's sustainable. we have a great success? some of the hardest hit housing markets recovering the fastest. markets like phoenix, southern and northern california, colorado, florida. these are markets we have a big concentration and in and they're really picking up some steam. >> steve, this is herb greenberg. i look at your call and the competitors and surprised to see the speck homes you put up. that's like the last thing i expected to see right now. when's up with that? >> well, as the market started to recover earlier this year and

last year, we had to build more speck homes than we usually do because a lot of renters are homeowners and don't want to wait to have a home built. we haven't been able to keep up with the demand on the speck homes and hurt the sales a little bit even though we had a 49% order growth rate for the quarter. >> jim? >> steve, one of the things that steve-ism is nobody can get a loan. if they wanted a loan, they go and get a loan and only rich people get a loan. i listen to you. this is the strongest area of our economy and it sounds like people who have a job and this is what a major bank told me recently. have a job and put money down, here's the loan. thrilled to make it. sounds like people with jobs with a little bit of money are able to buy homes. >> that's absolutely true, jim. i mean, people that have jobs, they have a halfway decent credit score can buy a house today and then get a loan. there's a lot of loan product

available and fannie mae, freddie mac, fhv and va and not experiencing issues on the mortgage side on the move-up market. entry level market is tougher. the move-up market is doing pretty good. >> what's considered a good credit score these days, steve? >> i'd say like 650, 660 or above. the tip alibier has a score in the 720s. >> how much pricing power do you have? in terms of home prices, how much has prices risen recently? >> different market by market. you know, we're across the entire southern united states and pretty big in the west. in california, arizona, we have had a lot of pricing power. we have raised prices 5% to 10% in the last quarter. >> how sustainable is that? >> in other markets like texas, it's been a little more tempered and moderate. >> okay. we have to leave it there. steve, thank you so much for joining us. >> strongest area of the economy. >> back to what we got this

morning in terms of numbers about the economy overall here and you listen to, for example, steve of meritage homes. has housing disconnected from the broader economy? housing is recovering. the rest of the economy seems to be slowing down. >> they're giving away the money now. if you have a job, you have to go buy a house. mortgage -- my tax payments are so much bigger than my mortgage payments on my house. because i've refinanced four times. and you know, this is just -- this is what bernanke did right. all i hear is criticism of bernanke. one thing to control, not congress, but control make it to get loans. there are major banks willing to make loans. take a look at the banks. regional banks. it is that big supply of homes supposed to be overhang is not. >> you know what's interesting? you're right about that. when you look at different parts of the country and the high priced homes, they're not selling. >> toll's having a great year. >> i'm talking about beyond them. >> the super rich? tie super rich.

interesting to watch that market. >> it's their own fault if they're unhappy. who are we worried about? mark pincus at zynga? the facebook guys are billionaire ice do we hold the mini rally going in to next week? >> this is a thing with two things. the fed meeting and you have the ecb meeting and rally right in to them because they're so few people invested. it is the end of the month. they have to throw money at it. everybody's behind. >> one of the great dichotomies of the market, cash america saying the pawn -- >> maun shpawnshops? i'm an american pickers guy. the horders. >> you have to run. starbucks having problems. pawnshops having problems. the two you would think would not be going in the same direction. >> more of pawn stars in a second. >> kohl's going up today. good discussion. >> save your ammo, buddy. how to trade the stock market

rally. it is the strongest three days for the dow since december of last year and hours away from the opening ceremony of the olympics in london. in 18908 cost $31,000 to put on the games and less than a penny for a standing ticket. 40 years later, $1.2 million, tickets 27 cents and after the break, the cost of the 2012 london games. me thinks it might be a little bit more expensive. if you are one of the millions of men who have used androgel 1%, there's big news. presenting androgel 1.62%. both are used to treat men with low testosterone. androgel 1.62% is from the makers of the number one prescribed testosterone replacement therapy. it raises your testosterone levels, and...

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before the break, we showed you how much it cost for the 1908 and 1948 london olympics. now here are the 2012 numbers. it cost $13.2 billion to put on the third london games and the standing ticket cost you $312. times sure have changed. well, nbc officially kicks off the 2012 london olympics tonight with the opening ceremony and across the nbc universal networks we're talking about more than 5,500 hours of coverage. nbc has secured about $1.2 billion total ads sales with local tv stations, the biggest advertising haul ever for olympic games.

it surpasses the by shang games by $150 billion in ad dollars. nbc paid $1.18 billion for the broadcasting rights to the london games. nbc will carry the olympics through 2020. some interesting olympic stat there is for you. meantime, up next, beers for brides? i kid you not. this is something you have to see to believe. and we're checking in with the pawn stars to see if the publicly traded pawn stocks as hot as the show and whether you should be maybe trading in.

check out sam frothing up in today's rally. boston beer up 24% over the last year and also making headlines with its new beer for brides. brewlywed ale is a limited edition. they brewed 350 cases of the beer which will be available for recently engaged couples or recently married couples. very classy. meantime, pawnshops are making upgrades to attract a more affluent clientele. what does that say about the health of the u.s. economy? let's ask rick, a member of the history channel's show "pawn

stars." fabulous to have you with us today. you're not your average dealer. you're high end. i think six picassos in the back there right? you're very high end, but none the less, how is the pawn business right now? >> the pawnshop business is quite frankly pretty weird. most people think when the economy is down pawnshops do really well. the problem is when the economy is bad you get a lot of inventory and it's hard to sell it. in general the price of gold really helped out business. >> what about the affluent clientele, to what extent are you trying to attract them and having pawnshops clean up their image. >> most people don't realize until the 1950s, they were the

number one form of consumer credit in the united states. everybody went to them. then came along credit cards and easier credit. but a pawnshop, i've sort of been vilified by hollywood. it doesn't make good movies or tv if you show a nice, clean pawnshop. a lot are trying to clean up. i think a lot of them have seen my show and seen that a really clean, nice pawnshop can draw nice customers. >> what's the highest end item you have right now? >> the olympics are about to start. i have a lot of olympic stuff. i have four medals, i just bought some shoes that were used in the olympics four years ago, and guess what, they weren't made in the states.

>> who gaves something big, who gives you the expensive stuff. >> well, a lot of things -- i get a lot of sports things. young people get into money quickly and they're out of sports and they need money quickly. i get a lot of people that have never been in a pawnshop before. they sent a lot of money a few years ago are suddenly in need of cash. a lot of those people are coming in. >> i want to very quickly ask you, are you seeing competition from the "we buy gold" shops out there? >> the wonderful thing about my television show is i get so much exposure. i have over 5,000 people come in a day. it's not really hurting my business. it hurt some of the pawnshops

for awhile, and then most of the public realized if you shop yourself around to local pawnshops and coin dealers, jewelers and everybody else, it makes more sense to get more than one price. >> i have to ask you, i hope you don't take this badly. i saw your show one, they gave over their mother's engagement ring or something, and you offered a price way below what they should have got. do you feel bad about low balling people to make a buck yourself? >> it's human psychology. when you buy something and own something for a few years, they never think they paid too much to begin with. also when people bring in their grandma's wedding ring, they think the diamond was perfect and refuse to think that grandpa was cheap. i'm a secondhand store and a

pawnshop. i have to make a profit on these things, and i will not pay wholesale price. >> what kind of margin do you tend to try to get? >> it depends on what the items are. if you bring me a piece of art that will be on there for a couple years. if you bring me a gold coin, i'll make 1%, i have no problem with that. >> thank you, rick, a little insight into the pawn world. in the meantime, let's bring in bob ramsey, and herb, you're staying with us to talk about the pawn store trade. the number of companies publicly traded in this sector, bob, give us your take on the publicly traded pawn stores out there. >> they actually had a little bit of a difficult quarter this

quarter. it seems like the pace of growth for pawn loans are slowing. that reflects a number of factors. it could deal with gas prices, delayed tax refund season -- >> we have a problem with the audio there. cash america, which i think the shares tumbled about 20% due to a slow down in the u.s. pawn business. what's your call on cash america? >> it's on the group, and had i talked to bob i would have asked about the entire group that goes beyond pawn. you get into the issue where these companies, most of them will warn you there could be concerned about predatory and abusive lending. the races are based on state usery laws that might be what is perceived to be egregious

levels. that's interesting because right now you had senator durbin today, and you have other hearings out there. this is becoming a hot-button issue. >> one of the things that, rick was telling us in the notes i read before the show, they're better than a payday loan company. it's the only place you can get a loan, default, and get a loan again three days layer where a payday loan would come after you. >> you know what it is when you go in. >> one of the oldest professions. >> thank you, herb. up next, smoke them if you've got them. you have to dig a little. fidelity's etf market tracker shows you the big picture on how different asset classes are performing, and it lets you go in for a closer look

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