tv Street Signs CNBC October 27, 2014 2:00pm-3:01pm EDT
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market. the dow jones industrial mark everyone is waiting on the feds. the s&p 500 is down 4. the russell 2,000 is off 4 points. with rewaiting for wednesday, ty that will do it for with the power lunch." >> "street signs" starts now. >> lower gas prices help you, could they crush the economic recovery? hi, everybody, we will hit it from every angle. plus, the ceo of the company working fast to beat ebola. >> even with the dow being flat, no fewer than six dow components earlier on today. it sinks to its lowest. below 80 earlier today.
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let's look at the lower yield. >> let's step. a sad story if new york, a five-year-old boy in beliveau hospital in new york city is being tested. >> reporter: this morning, he did develop a fever. they expect results from an ebola test later this afternoon, because he had traveled recently back from an effected countries in west africa. that i are also looking into other possible causes of his illness. we know he is with his mother. the mayor saying tear residence in the bronx is not being decon tam fated. they don't know whether it's ebola. as for dr. spencer, he is being treated. he is if serious but stable
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condition. we have learned nurse kaci hickox what was quarantined after arriving in newark was tested negative for ebola and symptom free the last 24 hours. these policies for people returning from west african countries affected by ebola, particularly health care workers, just now, governor christie defending the policy if florida, talking to reporteders today. >> i'm telling you guys this will become a national policy. eventually, the cdc will come around. >> reporter: now the cdc is expected to issue an update on its guidelines later today. >> thank you for that, mech tirrell. potential new hope in the fight against ebola. they found the company has a
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vaccine candidate the president and ceo, based on what you know so far, how effective could this vaccine be? >> we have been developing a platform that allows us to make that against a variety of diseases. it's been very effective for something called respiratory interstitial virus. it's the largest for children under two years of age. we have developed a vaccine against two emerging virus, one 8, 7, 9, a new strain of the flu. we have data showing how effective it can be in animals and humans. recently, yesterday, we announce at a conference our progress on the ebola having seen using the same type of technology process. >> two questions, one parts i guess, no. 1, are you working
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with the fda and, no. 2, if so, is the fda going to cover some, part or all of costs? >> okay. yes, we always work with the fda when we're developing vaccines for humans. we are currently scaling up a manufacturing process to make products for humans. we expect, our time table is as to start testing them in a human clinical trial in mid-december. we have been working harold with the fda. they have been very helpful. very interested in getting few drugs and vaccines through the process. so we are working closely with them him we hope to have the go ahead to start the first subject in as we call it mid december. >> how rapid do you think the -- sorry. >> my sec part. >> the sec part. >> are they going to paid? >> we expect to get paid not from the fda. the fda doesn't fund these sorts
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of things. there are world government and non-government organizations who have lots of funds targets towards purchasing vaccines leak ours. >> how rapid can your manufacturing process be some of the development, you might have a potential vaccine or treatment, but it's only a few doses that can be used. so once you think you've got a vaccine that is viable, how quickly could you ramp up to have a lot of doses for potentially a lot of cases? >> let me ask you two way, one we did an example of last year, we took the new emergence in coin, within 91 days, we had scaled up manufacturing and special scaled and injected over 200 subjects and showed it protected people in terms of serial protect. so what our technology allows us
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to do in the case of ebola is two things that are important. one, we take the gene sequence from the current circulating strengths, or making a vaccine. we did that in september of this year. now it's october. we started scaled up manufacturing. we expect to be able to make dosest this tens of thousands for this clinical trial by december and by the end of the first quarter, we will be able to manufacture and our biotech will manufacture in the millions of doses per month. >> how confident are you, stanley? >> we have done this before. >> you had to ramp up. that's how you made your nail. the efficacy of the ebola treatme treatment. >> we have to scale manufacturing is confident. we have data from two animal species that show we make high levels of neutralizing anti-body
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him we have to try it out. >> okay. best of luck. taufrlg very much, joining us there. >> okay. so, ebola is what we are calling the three es of this market that you need to be concerned with. yes, it does matter. the other two being europe and earnings. remember those? really, it is earnings that should matter the most for stock prices, should, not always do, unfortunately. what we seen last quarter are pretty dog gone good. the s&p 500 report their numbers. we seen revenue growth that has been pretty good. dan, i want to start with you, i want you to answer, i tweeted out a chart from a vc on twitter, that showed the number of google searches on ebola overlaid with the vix, the volatility index, part of the credit of that cart was the btig. so i put it to you, dan, do you
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say right now ebola does or does not matter to the stockmarket? >> it does u does matter. with respect to the cart and again we were, i'd like to think one of the first to put that out. will is a bit of scurryiousness to the chart. in the short ter, anything can koerlt with anything, getting to what ultimately matters, which is the conversations we have with our clients, clearly, ebola was on the minds, i don't mean to suggest it was considered for the bulk of the decline. towards the end, when they were nervous about people on cruises and hotels, i have no doubt it contributed to the downside of the equity market. >> do you agree with that, joen? >> we have seen some places with pull backs, dallas, we saw pullbacks in spending. we are coming up on a busy holiday shopping season. people are not willing to leave their homes or travel anywhere,
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that would have a hit. we are not seeing a lot of talk on facebook. really, corporate community kagsz we've gotten so far. we got some mention of ebola. it will be interesting to see if it flows through in early december. so far, i think a little bit. >> let's go to something that might make a difference. i hope would. that is the third e if you will, earningles. i think we learned earnings is a part of the story, who you are you enjoying guidance? good news about this quarter? >> as you go through an earnings season typically you see the earnings forward guidance for the next 22 weeks dropped about
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2% on average 3%. we are right in line there so you haven't seen too much of a drop yet. the things you have to look out for are the currency. if the dollar continues to be strong, you get a bigger hit. i think the important thing to remember is that s&p is not gdp. s&p 40% of earnings are from overseas. you have to be concerned. for us, for the economy, it's only about 15 or 20%. not so concerned. so that disconnect might persist into this quarter and into next 84. >> what do you think will be the best driver, we are ending a seemingly vng period for the market. what do you think would be the key driver between now and the
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ends of the year? >> i have no idea in one month, six or 12 months time frame. we are coalescing, is that earnings while not awesome are doing fine enough to drive stock prices higher. if you enter a seasonably high market as you know, we think the bias is to the upside. where you should start to get volatility is into the mid-part of next year but absolutely typing policy. stacks tend to have a little trouble with that transition, i imagine given the depths to which the feds have gone, this time will be no exception. >> i will push back. you know i love you. don't give me this whole three month, six month thing, there are drivers out there. you point them out every single day in your excellent morning note. what are you worried about? >> listen. the truth of the matter, listen,
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you could identify certain things. you could talk about the strength of the dollar of that received. you can take talk about oil fluctuation, short term flubbing chu wakess are almost always n fluctuations are almost a near impossibility in predicting thethe cause of any short-term movement. i find that hard to believe. >> considering the s&p is up, down that 2014 should deal with 10 to 15%? >> if you had thought crude reached the bottom, think again, $75 bucks may only be a soft
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floor. we are about to ask someone. >> pickup truck sales up. prius down. how cheaper gas may reverse a recent car trend. i sure hope so. with healthcare costs, who knows. umm... everyone has retirement questions. so ameriprise created the exclusive confident retirement approach. now you and your ameripise advisor.... can get the real answers you need. start building your confident retirement today.
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viewers, our audience, what in the heck has driven oil prices down? please don't say more supply than demand? >> you just took the words out of my mouth. >> thank you for coming on. >> there is so much going on, new highs, yet, north american supplies have not matched that, but overwhelmed that. we are also against the weak or demand growth. what we are seeing is essentially supply overhang and opec is faced with the prospect of lower prices than they have seen the last few years, will they let it go lower? >> there was a mode up. opec said later on the november,
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essentially, they're okay with doing that. when you say they will set up a showdown, what would that look like? what would the outcome be in. >> well, on one side, opec, stalled dis have most of the basically all of the specs have to be available to them. on the other hand, they don't need a cut. allowing lower, showing so far posted signals they are pull back production, that's pointing to prices potentially going lower in the near sense. >> now, there are some support factors over this fourth quarter. we haven't feared the maintenance in the world we think it can provide a bit of support. we think it makes a deal at opec in november even more unlikely.
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now, if that's the case, then we've looked at scenarios of downsizing. as i said, we do see prices staying support here. if opec is to continue not cut back production, prices can fall to the ''80s level, which we are doing it again and below now if you get to wti at 70, is that going to slow down shale production growth? which don't think so. >> i'm sorry. i tweeted out a picture with the oil stocks and the market. i put up there. they're all down 10, 20, 30% in four weeks. i hope you are right and folks in north dakota are right, why is the market acting like it's going to slam hem? >> well, we got to look at it on two slides, one side the prices fall 20% normal. that in itself is going to hit
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profitability. on the other hand, what i'm saying on an aggregate base, we will start to see stress on the more moderate producers. the fact as you will cut producer, less productive wells, aggregate u.s. production doesn't look like it will slow down much. that mens even more prices, that's what the announcers will see. >> we have to leave it there. thank you very much. i think your point about the market feeling bearish is very well made over 50% are down in the past three months. >> being absolutely crushed. okay. well, you know. >> saudi arabia has a cover. they can say we want lower prices, go after vladmir putin and crush the u.s. shale revolution at the same. okay. twitter moving lower, as we've gone back on all after the bell
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numbers we are watching on the earnings squad after this. >> okay. everybody out there says you only have professional money managers on. what about real people in this guy won "jeopardy." arthur chu says he doesn't like to pick stocks. the always outspoken winner of jeopardy will be our guest coming up. she's still the one for you.
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. >> welcome back to "street signs." i'm melissa lee. our own john ford, today we will be getting numbers from buffalo wild wednesday. before we get started. let's look at the earnings scorecard. 2 shuchlt s&ps, 43% of the index, 73% have come in above index. let's start off with twitter. >> that is a big one, steph and i were talking about the applied moves in the "options action" market. so this is going took real stomach turner.
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>> absolutely. it's going to be a wild one. expectations are kind of high. it looks like investors might be thinking of an amazon type quarter. the consensus is 351 million it should be 16 million above the mid-point what does that mean? user growth? the tricky thing i see happening is international growth 33% of revenue and international did not turn up well for amazon this past quarter. it has been weakish, twitter, which is small, small enough to power through that. the engagement numbers are important long term. >> did any of the new products gain traction? that will be key. also, last quarter, they saw 200 basis points move in margins.
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the question, too, is the last quarter, they had the benefit of the world cup. in terms of the net ads for the quarters for maus. >> that estimate tops last quarter's edition do we have the wind at the potential world cup? >> consider tag twitter log-in is built into iphones. we are engaged. it's kind of like an ad for twitter sitting right there in the operating system. >> suffice it to say, there are a million moving parts at this point. expectations are high, still down 20% from their high, so maybe there is a chance we can see it. >> the other potential big mover coming out. with eshould note after earnings are released. we will have an exclusive interview with dick costolo, you want to watch that and see whether or not that 13% move up or down materializes in the after hours session.
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the other stomach turner is buffalo wild wings. remember last quarter, they lowered their second half guidance, the issue in this quarter will be not only should they have wage increases in a handful of states and increase their costs, win price versus gone up 25% in a matter of months. they're not expected to take it until the first quarter. this is going to take out a lot of their margins at this point. this is a stock that investors are already questioning. >> right. the good thing is expectations are lower. >> fave fallen 8%. they think they can get pricing power that is the big debate. management says they have pricing power. investors say they don't. >> do lower ratings for a world series hurt buffalo wild wings guidance? >> certainly could be.
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>> but you have monday night and thursday night football. >> i just want to see if these guys can do what caterpillar put down last kwooek week. clearly, we want to get the tone the big question mark will be north american truck, has that market peaked? i don't think it has. >> lots to watch, stephanie, john, thanks so much. tonight on "fast money," le will have dennis gartman, he is seeing the possibility of $10 a barrel oil. >> ten? >> we will grillle tonight on "fast." >> ten, seriously? >> yes, dennis is a good ole boy from the south of virginia. i know those types. i wonder if he has been hit in the hooch? >> what? what is hooch? >> moon shine. >> oh, okay. >> what did you think it was? >> they don't each hooch at
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i'm just looking over the company bills.up? is that what we pay for internet? yup. dsl is about 90 bucks a month. that's funny, for that price with comcast business, i think you get like 50 megabits. wow that's fast. personally, i prefer a slow internet. there is something about the sweet meditative glow
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of a loading website. don't listen to the naysayer. switch to comcast business today and get 50 megabits per second for $89.95. comcast business. built for business. time for something we do every day at this time, street talk, five analysts, the stocks you need to know about today. crispy hot coverage of ebay with a buy. >> a $64 price target. pay pal spin is a positive. they like the cash flow. stocks at 51 and a nickel. so about 13 bucks. >> not overly concerned about ali baba. next up, golden upgrading garmin for a buy. >> it's up 1.65%. it's been an attractive entry
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point, it likes the gross story, loves garmin's return on investment capital as well. it's interesting, they're not that concerned about the apple watch. they're targeted at 64. >> the apple watch was one of the reasons it came off its highs in july and i guess the fact that makes it an attractive entry point. up next, upgradeing mondelez. >> they said the recent challenges in the stock are a nice opportunity to own it at a more attractive valuation. i like the call. if you are an analyst. you love the stock, it goes down if price, you must love it more unless something fundamentally changed. pivotal research with a sell. >> herbalife flame covering flowers foods, slapping a sell rating, add a $14 target on the stock, that's about 20% below
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the current price. the back road trends of the store delivery models point to a long uphill slog. >> this is our under the radar name of the day. >> the specialty health care company. they started with a strong buy rating. their target $20 a share sold about 15% upside the ticker. civi. novavax. obviously, we had the ceo at the top of the show. a lot of people are trading the ebola name. stocks soared, they liked what he had to say. he sounded confident. he expected to get 10,000. >> eventually, he thinks he can produce a million doses per month. eventually. he's quite bullish on providing
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that for those that need it. >> what this company is phone for is getting things to mark, do testing, doing quick sort of manufacturing. they did it with avian flu. you can see it's come off its high, still, people paid attention to novavax these days. now to our other daily segment. we talk numbers. today, let's take a look at merck. erin gibbs of capital iq omni fundamental also. merck, erin, love it, like it, leave it alone? >> leave it alone. we don't have this in our portfolios right now. i'm definitely not locking to add it. it did boat analyst estimates a little bit. it's still declining in earnings and revenues. we saw 4% decline. the problem with merck is it's running at a net zero sub gain, it's moving patents like
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singulair and propecia, it has stuff in the pipeline, professional e potentially one cancer drug that got fda approval. in the end, we are looking at close to a zero% digital and revenue growth. even for next year, we are only looking for about 3% eps growth. it's trading at 16 times earnings. so it's definitely trading at a premium for the overall mark. for us, with a decline, it's still not attractive enough. >> you are leaving alone, indeed the market is leaving it alone the biggest do you drag, catching the index overall. technically speaking, do you not like it at all? sample the charts agree, leave this stock alone. it is a void in our work. here's why. looking at the stocks the long-term chart in particular, $60 level really stand out to us. this is the highest the stock
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has traded at, going back to 2001. so there are some very formidable resistance right here. we do not think the stocks can break through this level. here's why. on this march, it lagged both the market and the sector a. lot of the stress has been attributed to being in a very strong sector in a very strong market. we think it trades lower. looking at the near term trading as well. it got pushed below the 200 day average today. i see downside risks of $50. overall, i'm avoiding it. >> thank you very much to both of you. we can find plenty more with the online edition with yahoo finance. all right. are lower gas pricings giving you more money in your pocket. will you spend that money on holiday presents? we will ask a guy that has to say a lot ott about sears. plus, weren't medical devices supposed to be hurt by a new
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>> like many other businesses, toyota is moving out of tie tech california and moving to low tech texas. today the japanese auto maker is breaking grounds on a new national headquarters. phil lebeau is live and will tell us more, phil. >> reporter: at the party in plano, toyota has a ceremony to officially break ground on its new headquarters for the u.s. operations, 4,000 jobs are moving here. to commemorate this day, the governor of texas rolled up to the hotel where this event was held in a toyota tundra. remember, they are built down the road, he drove up. met jim lynch, the headquarters coming here represents 4,000 jobs, they will be in early 2017. here's the head of north america and governor perry is talking about why texas is the new home for toyota. >> we looked at every major city across the country.
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when you take a look at it from the employee's point of view, quality of life, you look at it from the business point of view, i can tell you there is no better place than texas. >> it's regulatory policies that create a scaled work force. >> as you take a look at shares of toke, which have been under pressure like all of the major auto makers while the rest of the supplier base has had a bump, it is interesting to photothat texas has been an increasing focus of importance for toyota. not only do they have the dunn tundra plant in san antonio. but they spend a lot of money in truck country. now they'll have their u.s. headquarters here in texas. >> before you go, buddy, we got to ask you about gas prices as well, right? people tend to toyota and honda when gas prices are high. forget about the trucks, although they make money on the
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tundra, could this hurt the more fuel efficient vehicles? >> reporter: yes, it's already hurt them. i believe prius are down 10% when the auto market is up 5, 5.5%. when you have a hybrid, when gas prices go down, it becomes less important for people to go out and get them, 35, 40, 45 miles per gallon. you see a reverse when the gas prices spike right now they're down 10%. the hybrid stockmarket down right now. >> have a good time. tell that kid behind you to get back if school. thank you very much many people expect the tax hike to take a hit. >> health care devices were seen as the big losers in obamacare, that laws 2.8% is a profit head
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win, the bisector includes devices is up 14%, it's two points above the compounded annual growth rate. driving forces, few product launches, sending the biggest gainers to all time high, such as care fusion, that's the poster child up about 13% for the year, ahead of dickinson's deem to acquire it. analysts say the deal gives them product by bolster the relationship for higher priced products. analysts median price target is $106. that's implying an 8% upside from here, even, the tax benefits require irish based covidian, analysts say
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combineing the firms will help. met tronic is expected to report strong sales next week as well of its tavr or transkat theirer aortic valve replacement product. these are used for patient was can't do open heart surgery. scientists reported last week the few atr valves are sending shares to all time highs after the device maker boosted its median for the year. the high estimate implies another 17% upside from here as it is raising its outlook. >> thank you very much. believe it or not, only vacate days to go until christmas, folks. with gas prices at a four-84 low, will retailers get a big boost as we inch close to the holidays. the former ceo, first of all, citi estimates with gas prices
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falling 20% now, families could save about $600 per year. the question is how much of those in savings will go to halliday retail spendings? >> all of it might go to retail spendingings, some might go to ipads, cable bills, rather than sweaters or belts and wallets and boots. this year there should be some benefit coming off a terrible weather season last year, but who knows what the weather will really bring. the problem is with these lower energy prices come with a drag on the economy as well as a boost if people's disposable. so it's a two-edged sword if you will. >> how about the stockmarket, did you notice how well the stockmarket did and retail sales, were they completely unrelated? i better sell some ibms so i can buy some jean, that shouldn't happen?
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>> the stockmarket leads the economy. if the stockmarket is up, the economy eventually comes with it. then when the stockmarket tanks or there is a swoon in place, does that foretell the next two, three months, they will be really tough in retail economy? i would suggest there isn't any good reason to suspect a powerful holiday season. at best even up from last year, a tremendous profitability. >> when you come to the fancy promotions, they present a starting and say we will give you free spip shipping. they have to eat those costs, don't think? they will be the only ones doing that this season. >> the for all it was a last year's plo emotional season begin any minute. it's not going to abate. add to that, added costs, like you mentioned, free shipping
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without regard to minimum. maine companies that may be doing this like toorth save themselves from the data breach issue remember. >> it could be better than some bought? in there in many cases, that could be the case. you have to hunker down, get your organization as efficient as possible. get as close to your customer as you can. weed out all the things that don't come down to your bottom line, for the focus on the things that make thet special and important they put tremendous pressure on profit margins, amazon is not the boogieman by any means. >> during the break, we were talking ability the former canada's ceo. i asked you if we are in a bit of a trouble mark, would you come back in and turn it around?
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or down there is no turning around at this stage? >> i think the company has been hollowed out. i think they will continue to do business for some period of time. it will be propped up as it's propped up now. but it's relationship with its customers is gone and there has been too much damage done by the lack of investment in people, stores and product taking place over the last 15 years. >> it's terrible. it's a tragedy. >> topping very much. >> thank you. >> all right. so most people agree part of the nfl success has to do with interest created by gambling. so why is the league blocking new jersey from legalizing sports. >> you have met him before right here, some know him as the former deputyville an. we know him as an every day investor. arthur chu. we will have him back on the
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i'm just looking over the company bills.up? is that what we pay for internet? yup. dsl is about 90 bucks a month. that's funny, for that price with comcast business, i think you get like 50 megabits. wow that's fast. personally, i prefer a slow internet. there is something about the sweet meditative glow of a loading website. don't listen to the naysayer. switch to comcast business today and get 50 megabits per second for $89.95. comcast business. built for business.
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we love speaking to professionals and we like the opinions of those not necessarily in the pro money world. the next guest, arthur chu was a "jeopardy" champion and happy to have him back and largely what he says about our show is we are just noise. arthur does not enjoy picking stocks. goes with an index strategy and welcome back. i'm going to ask you, though, have you changed your tune at all? you are an individual stock hater? >> yeah, yeah. in fact, the volatility recently has made me, you know, more insistent on that as a principle. >> what is your biggest concern right now? we were talking at the top of the show. brian has the earnings and ebola and other things, europe. what keeps you up at night, arthur? >> i mean, here's the thing. like, being an index investor means i'm in the total stock market and invested in the u.s. economy so if the u.s. economy goes south as a whole, then yes, my assets go south but, you
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know, i'm not betting on any individual sector of the economy. i can just hope that the economy as a whole does well and if the economy has a whole does poorly, everybody does poorly no matter how you're invested because you're part of the economy in the end. you know? >> but here's the -- i'm going to call this the chu-ian pair dox. you are a safe investor. you actually took a giant arbitrage opportunity for pricing discrepancies and moved from washington to cleveland and i -- from what i understand about your story, part of that was because even the though the economic opportunity is not as great in cleveland, you sacrificed the cost of living difference. >> right, right. >> so you are taking -- you are placing bets. they may not be on individual equities. you bet on yourself. >> yeah. i know myself more than any individual equities, like i moved to cleveland because i had a job here and -- i mean, i interviewed far job here and got
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it and felt i could do it well in and me knowing myself opposed to knowing a company that i've only, you know, i only know about through research or the news. and something that i've said, like, things that i would be willing to invest in and only a small portion of the portfolio would be things where i very strongly knew and believed in the individual thing. be it like a house i was fixing up myself to use as a rental property or a business that i really believed in. either i knew the person running it or myself but in the world of the stock exchange, i'm competing against institutional investors with way more knowledge than i could have. not to say that i couldn't do well but to beat the index, be better than the institutional investors. >> you're self aware, arthur. i understand your wife has a passion for homes. maybe real estate is on the cards for a future project?
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>> possibly yeah. that depends on the reason that your local knowledge can, you know, quote/unquote beat the market is taking effort and so it's about, like, can we justify the effort to research a neighborhood, you know, research a local real estate network? anything that gets rich quick, i'm wary of people saying buy into the market without knowing anything about it and automatically make returns and scares me off. you know? >> okay. let's finish it this way. arthur chu is the answer. when's the question? >> oh. >> um -- let me see. who is a handsome devil? >> i love it! good. >> i need to meet you. we have a lot in common, arthur. >> all right. >> we need to meet in person some day. i'll come to cleveland. >> "jeopardy" will have a new villa villain. thank you, arthur. >> thank you. >> thank you. >> a judge blocks new jersey
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from offering legal sports gambling. is the nfl saying that gambling will hurt the business? that reminds us of this guy. >> how can you close me up? >> i'm shocked, shocked the find out that gambling is going on in here. >> your winnings. >> thank you very much. everybody out, as once. opinions. there's no shortage in this world. who do you trust? whose analysis is accurate? how do you make sense of it all? a simple, unbiased stock score consolidated from the opinions of independent analysts... is that too much to ask? nope. equity summary score, powered by starmine, will help you execute your ideas with speed and conviction. and it's only on fidelity.com. open an account and find more of the expertise you need to be a better investor.
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hi, are we still on for tomorrow? tomorrow. quick look at the weather. nice day, beautiful tomorrow. tomorrow is full of promise. we can come back tomorrrow. and we promise to keep it that way. driven to preserve the environment, csx moves a ton of freight nearly 450 miles on one gallon of fuel. what a day. can't wait til tomorrow. there was no legal sports betting in new jersey this weekend as a judge put a stop to it late on friday.
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joining us now is morgan brennan. what happens now? are the pro sports leagues going to convince a judge that gambling hurts them? i thought most would think it creates interest. >> what's next is a judge over the case and granted nfl and other leagues a temporary restraining order of racetrack monmouth park to take wages and cited with the league argument of harmed because more legal gambling is increased incentive to fix matches. new jersey wants to be the second state after nevada to take individual bets on sports games. and they created this law emergency roomier this month to repeal its statewide ban. as gaming revenue is falling particularly in atlantic city. they say that the new law only allows for $100 maximum bets in person on games not played in
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the state, and b, nevada and perhaps more importantly london where betting is legal and the nfl playing more games, proved this can be properly regulated so we're going to have to see how it unfolds. >> yeah. thank you very much, morgan brennan. shaping up for a potentially see what happens. last trading hour. "closing bell" starts right now. and welcome to "the closing bell." i'm kelly evans at the new york stock exchange. >> i'm bill griffith. a quiet day for the major averages but you just can feel -- i mean, there's a lot to come. the quiet before the storm. we have got 150-plus major corporations reporting earnings this week and, of course, the federal reserve meets on tuesday and wednesday. and all of that can lead to some volatility and fireworks and the final hour
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