uber. i'm simply pointing at -- you're a little too obsessed with this whole topic. >> and rightly so. so many dimensions to explore. thank you guys for joining us today. evan newmark, kayla tausche. you guys as well. "fast money" begins live from san francisco right this moment. ♪ welcome to "fast goes west." we are back for one more night in sunny san francisco, keeping you up to the minute on all the biggest investment opportunities from real estate to tech in one of the hottest cities in the country right now. i'm melissa lee. dan nathan here. guy adami with us once again. hi, guys. >> hey, mel. >> survived another night here. tonight on "fast" it is one of the world's hottest luxury housing markets and we are right in the thick of it. inside some of san francisco's largest and most extravagant houses this city's got to offer. plus we're getting in on the silicon valley lingo and talking the latest tech unicorns. a breakdown of who's who in the

billion-dollar valuation club and which company could be next to go public. and later, get this. guy is going somewhere where no other trader has gone before. and it's downright terrifying. trust me. we'll show you the video straight ahead. but first to the news of the night. the biggest hedge fund names in the game out with their latest holdings. cnbc's kate kelly back at headquarters with all the details. hi, kate. >> hey, melissa. quarterly stock filings for the big money managers are out and the word is technology, media and energy perhaps in that order. appaloosa's david tepper taking a new 2.5 million-share stake in apple. the noted investor joining many other funds, seizing on a very flat second quarter for the tech name as a buying opportunity there. david einhorn also adding a key tech position, to a key tech position. in his case micron technologies, the beaten-down name that has caused him some pain in terms of returns so far this year. but he's adding to it anyway and he's also adding to his media portfolio with a new stake in 21st century fox sized at nearly 2 million shares.

as well as a big addition to his gm stake that now numbers close to 15 million shares in total. tepper added to his gm position too. the details here, he added 3.5 million shares to an existing position. carl icahn getting longer media stocks with a large 15 million-share position in tegna inc. which is the former gannett company, a broadcast and digital marketing outfit. and finally a number of money managers getting bullish on energy names, including some of the less favored stocks like pioneer natural resources. you may know it as the mother fracker. and chenneer energy, the liquefied natural gas exporter. icahn's new stake in chenneer was reported recently before these new filings today. but now we see the bal post group seth karman is getting involved in a major way, melissa. a lot to chew on there in some treat interesting sectors that have been beaten down in many cases. >> and kate, there are some interesting moves also by kyle bass. we've been following what his hedge fund has been doing in terms of shorting biotech stocks but the latest filing shows that

he's actually long some names. >> absolutely. that was one of the interesting things from earlier today. heyman capital, his hedge fund filed a little bit earlier than the rest of the gang. yeah, and what you saw is he's gone long six or eight of the major pharma names. including perigoh, not entirely a surprise because it's in play. but also mylan, eli lilly, pfizer, a number of big established names at the very same time as he's challenginging some of these patents in the biotech world legally and reportedly shorting them. unclear. i haven't heard back from them yet in terms of a comment. stay bit of merger arbitrage? what does he see coming? we don't really have clarity yet. >> all right. kate kelly, thanks for the roundup. back at headquarters. all right, guys. what stands out to you? i think apple's kind of interesting seeing where it's gone in the second quarter. >> no doubt about it. the second quarter average for apple computer was $128, was down about 10% from there. and when you think about in looking back at these 13, that's when we know they're 45 days delayed here.

doesn't always give you a very clear picture of how people are positioned right now. but i think it's safe to say that when you see a stock like this that is down that much over the average weighted period of that quarter you know some hedge funds are going to feel a little pain here if we don't get this buy the dip reaction wee had the last few years. >> apple's obviously the big headline. and this has been fun, by the way. >> this is great. >> i'm here with dan. and can i say? >> yes. >> my first o.a. appearance coming up. with that said it hurts to me. an under the radar name. you talk about it from time to time but hertz has had -- the last six months have been difficult. from 31 down to 17. david einhorn has a 5.4 million share stake in that name right now. couple analysts bearish. couple of analysts bullish. pretty big short interest. not a ridiculous valuation. i think out of all the names i just sort of went through hertz might be the most interesting. >> it's interesting to see what einhorn is adding to. and they have been losing positions for the most part. micron as well as general

motors. piece that together with the pain he's felt presumably in sun edson because he was a major shareholder in sunedison as well. >> sunedison right in the beginning of this quarter was making multiyear highs. it's been cut in half in the last month or so. that's one where -- i guess how i use this information is what are they adding to over time? micron's really interesting. we know that einhorn sold a quarter of his position back toward the highs. now he's adding back in. i think it's important to speep just like you guys out there, some of these guys are traders. looking to take advantage of volatility where they see it. >> coming up next the billion-dollar valuation club. uber, spotify, snapchat, and beyond. but there's one tech giant that's currently public that might be worth more private. and chances are you use it every day. we'll tell you what it is. plus think there's a housing bubble? think again. one of the stars of bravo's "million dollar listing" took me on an exclusive tour of one mega mansion. we'll show you what it is about san francisco real estate that makes it such a bargain. and get this. we even had a little time to relax on our own. much more "fast goes west" live

from sunny san francisco next. ♪ ♪ aching in my heart you're army new jansport backpack, a powerful new dell 2-in-1 laptop, and durable new stellar notebooks, so you're walking the halls with varsity level swagger. that's what we call that new gear feeling. you left this on the bus... get it at the place with the experts to get you the right gear. office depot officemax. gear up for school. gear up for great.

♪ ♪ of all the innovations to come out of san francisco in the past decade the advent of the sharing economy may be among the most significant. companies like air bnb and uber call the bay area home, putting san francisco at the epicenter of a brand new industry. ride-sharing company lyft is also based anywhere california and it's garnered big investments from the likes of carl icahn and dreessen horowitz. we wanted to find out a little more about lyft so we sent guy out to become airlift driver for a day. here's what happened. ♪ >> hey, it's guy. i'm out here in hoboken, new jersey. and today i'm going to learn to be airlift driver. i just finished my training

session where i learned how to pick up passengers for lyft. i downloaded the app. when a customer requests a ride it tells me where they are, what their name is and where they want to go. let's wait for some passengers. ♪ wow, looks like i got my first pickup. it's laniya and she's not that far away. here i go. here she is. i'm going to get out and get her in the car. >> are you guy? >> i am. are you laniya? >> yes. pleasure. oh. >> oh. pleasure to meet you. into the vehicle, young lady. >> how long have you been driving for lyft? >> about 35 minutes. >> yeah? >> yeah. >> wow. your ride is nice. >> and you're my first passenger ever. laniya, you have a nice day. >> likewise. >> looks like i got another pickup. it's donna. she's on 1st street and she's going to 2nd and jackson. i'm on my way, folks.

nice to meet you, i'm guy. >> nice to meet you. you're very formal. >> i do things the right way, young lady. >> you know pedestrians have the right of way here. >> in life pedestrians have the right of way. >> but here i think it's even more. >> people walk with impunity. >> wow, what service. >> thank you, donna. pleasure. >> thank you. good luck with your job. hope you like it. >> hey, i had a lot of fun as airlift driver. i met some great people. i made myself a couple bucks. but you know what? i'm going to stick to trading. >> so guy, did you try this out in san francisco? >> it's ridiculous, right? >> is that what you do in your spare time? >> i should be in a boy band. no, i didn't -- we hung out out here. it's been a lot of fun. that's not easy work, that lyft driving stuff. >> no. >> unless you get a guy like roger mcnamee, throws you a decent tip, then you're in decent shape. i wish we could find the guy.

>> speaking of roger, roger mcnamee of elevation partners, you're a big fan of the sharing economy and you think uber's amazing. >> i do. i think the thing we want to focus on as investors is that we spent the last eight years selling the world smartphones. and it was all about the adoption of smartphones. we've now sold a billion of them. the key phase we're in now is adaptation to the real economy. and the first piece we saw was transportation around uber and lyft. and this idea that we could get rid of all the friction in getting on-demand transportation. and now you're starting to see people try this everywhere. right? you see people with warby parker with the glasses, people trying to do it with razors including gillette. so this notion that the economy is adapting its business models to leverage this now ubiquitous very powerful tool i think is the biggest thing going on and will be for some number of years. >> is uber -- because you say specifically that uber is the

greatest idea since facebook. >> yeah. >> does that mean that it warrants a valuation that it's garnering right now? >> i think the market always gets to make that choice. i look at this and i go if you're asking tore for my money would say probably not. but i totally understand -- >> sounds like you're saying it's overvalued. >> for me. >> for you it's overvalued. >> but that's a different thing. i'm sitting here and saying if they continue to execute on this vision all the way through it will ultimately be worth this much and maybe more. but i do think they're going to have to make changes to the strategy over time. but i would love to be playing the hand that they've been dealt. my gosh, it just doesn't get any better than the hand they've been dealt. >> roger, you're talking about private valuations here. when you think about it, there's one stock that obviously garners a lot of attention in the public market and it's twitter right now. here's a public valuation that's $17 billion including their cash here. and i have to think when you think of snapchat the a very similar valuation, uber more than double that, why is this

company given its scarcity value being so -- >> it's a great question. i really believe that twitter's one of the greatest products ever. and the message i would love to convey to the national team is to recognize that twitter is a data engine. it is the most important news engine available to us. and they treat it -- imagine if we were wall street investors and the only tool we had was the ticker at the bottom of the cnbc page. that is what the news feed on twitter is like. i think twitter needs to become like bloomberg or cnbc and provide every possible tool for analyzing what's in their data base. the notion that you can only look at the current stuff is ridiculous. bloomberg became a multibillion-dollar company by giving investors every possible view of the data. and i like to say that twitter, they're one good night's sleep away from figuring this thing out. then the company's worth a lot more. not on current course and speed.

but the minute they make the recognition that wait a minute, i have this giant repository of news and i'm making people get it through a straw instead of through a firehose, then -- but that kind of dichotomy that you see there, twitter is a huge latent value for all of us who are long-term investors. but they do need to make a change. right now i look at uber and go they're going to need to make some changes too. so there could be some days where shall we say we may get a better buying opportunity than 45 billion. we'll see. >> thank you for coming by. great to see you in person. roger mcnamee, elevation. what's your take -- >> good musician too, by the way. >> you can tell by the hair. >> well. my thing on twitter is i gree 100 -- everything he's saying. twitter is an extraordinarily valuable property. at some point they're going to figure it out. i don't think it needs a lot of fixing. i think it's a minor tweak. facebook went through some early growing pains as a publicly traded company. people were calling for zuckerberg's head a few years ago. now he's the second coming. i think the same thing's going to happen with twitter. >> speaking of twitter, still

aheat hunt for twitter's new ceo. could they announce the new c suite as early as next week? kara swisher's going to weigh in. f cnbc, first in business worldwide. here's what's coming up this hour. >> this is the fabulous life of filthy rich billionaires. okay, robin leach, we've got you covered. because we're here in the bay area taking a look at some of the most luxurious homes san fran has to offer. from wine sellers into fint pools. we'll take you behind the real reason this city is on fire when it comes to real estate. plus serving up a burger with a side of options. no, not extra pickles or special sauce. we're talking shake shack's new options that officially came to market today. but they could cause indigestion. and we'll tell you what it is that has some traders upset. coming up after the break.

♪ no student's ever been the king of the campus on day one. but you're armed with a roomy new jansport backpack, a powerful new dell 2-in-1 laptop, and durable new stellar notebooks, so you're walking the halls with varsity level swagger. that's what we call that new gear feeling.

you left this on the bus... get it at the place with the experts to get you the right gear. office depot officemax. gear up for school. gear up for great. welcome back to "fast money." during our stay here in san francisco we got a look inside one of the hottest real estate markets in the u.s. right now, with million-dollar listings' ro habibi. take a look.

>> thank you so much for coming to pennsylvania. come on in. here we are. we're entering the main living area and kitchen. this is a great entertaining space. >> wow. >> extremely high ceilings. yes. and this is one of the selling points of this specific home. completely unobstructed 270 degree views. so the kitchen is really nice. we have white lacquer cabinets. and the range is right here in the middle. also we have all miele appliances really high-end. the oven, the huge fridge. and it's nice because the cabinet just goes right over it. so you can't even tell the fridge is here. kind of tucked away. >> and it's big enough to have actually a full dine table. >> yeah. what do you say we go see the master? >> sure. >> let's take the elevator, though. >> okay. >> and it leads right into our becker closet, which is all customized. very, very high-end.

>> wow. either with inlays. >> yeah, exactly. and this is the money shot. >> wow. >> pretty phenomenal view from the master bedroom. this is really nice, too. we should definitely go out here and check this out. this is one of my favorite aspects of the home. you know, you have this private rooftop terrace. >> this is amazing. >> and fantastic place for entertaining. you have the phenomenal views again. >> this view is unbelievable. >> i know. it's just jaw-dropping, isn't it? >> it is. >> ro of million dollar listings is with us now. good to see you here. >> very good to see you again as well. >> so that house is selling for $4 million. >> yeah, 4.2 million. >> and a couple years ago you said it would sell for about half of that. >> roughly around there, yeah. the price points have definitely risen quite a bit here in san francisco. we're over $1,000 a square foot now. and for that property it was redone in 2009. so it's kind of almost like a new development. so we're selling that for about

1171 a square foot. >> if this were a stock, roh, we'd probably say the rate of ascent is crazy and there might be a bubble. do you think there's a bubble here in san francisco? >> not necessarily because the people that are actually purchasing these properties, they're very well qualified. as you know, how stringent lending has become and how difficult it is to get a loan on these properties. you know, only about 28% to 25% are coming in all cash, contrary to what everyone thinks. so these people are usually putting 25% to 40% down. so they have a lot of skin in the game. we don't necessarily feel like anyone's just going to walk away from a property if things, you know, kind of turn sour. so everyone's very well qualified and they could afford these homes. >> how about rent versus buy here? if you could do either, what would you advise? >> i would buy. i would buy. the san francisco real estate market in the bay area in general is going to continue to rise because we're very undervalued compared to a lot of the other areas, not only domestically here in the united states but more so

international. we're a financial hub here on the pacific rim. hedge funds are back in action. biotech is just really going on fire right now. and the technology scene within san francisco is really fueling this. it's silicon bay now. >> that house is in potrero hill. what are some of the undervalued areas? >> if you want an extreme amount of value where you're going to get really fast and positive return you're going to want to buy in an area called the bayview. it's on the south side of town. it gets some of the best weather in san francisco. and on top of that you could buy a single family home there for around $600,000 to $800,000. so as people are getting outpriced out of noe valley and all these other areas they're going to slowly move there and you're going to make a huge amount of money. >> roh, great to see you again. thanks for the tour. you can catch roh habibi on million dollar listings wednesday nights 10:00 p.m. eastern time on bravo. so got to catch it, right? >> i watch it religiously. are you kidding me? locked in. >> time for the final trade. what are you guys watching ahead of monday's open? dan. >> yeah, you know, some people are calling for twitter's ceo

announcement to come next week. i've been long this thing. i'm waiting for that inflection point. >> guy. >> we've talked about the russell, the iwm. i think it's important that it recaptures 121. it's trading about 120 1/2 now. i think that was the final piece before the s&p potentially breaks down. that's what i'm watching for monday. >> all right. that does it for us here on "fast." it's been a great time out in san francisco. we thank everybody here at the bureau for your hospitality. but -- >> come on. >> there is much more. you know why. >> why? >> because mr. guy adami's going to make his debut on "options action." >> don't touch that dial. i'll break your hand. >> coming up right after this break.

♪ no student's ever been the king of the campus on day one. but you're armed with a roomy new jansport backpack, a powerful new dell 2-in-1 laptop, and durable new stellar notebooks, so you're walking the halls with varsity level swagger. that's what we call that new gear feeling. you left this on the bus... get it at the place with the experts to get you the right gear. office depot officemax. gear up for school. gear up for great. if an electric toothbrush was going to clean better than a manual. he said sure... but don't get just any one. get one inspired by dentists. with a round brush head. go pro with oral-b. oral-b's rounded brush head cups your teeth to break up plaque, and rotates to sweep it away. and oral-b delivers a clinically proven superior clean vs. sonicare diamond clean. my mouth feels super clean. oral-b. know you're getting a superior clean. i'm never going back to a manual brush.

when the winds of opportunity blow, you have to follow them. follow them far. far out west. to land governed by a simple code. risk less and make more. that's where two men in search of fortune and a host find themselves.

in search of the best trades. and the wisest options strategies. this is "options action's" call to the west. >> "fast" isn't the only show going west. live from sunny san francisco, this is "options action's" call to the west. get it? call to the west? i'm melissa lee here with "options action" regulars mike kuo and dan nathan and a very special guest tonight. "fast money's" own guy adami. he's ditched the -- actually, the tie's on. >> i'm staying. full "fast" rig for me. >> it's very difficult to get you to change. but we welcome you to the show in your debut. >> this is awesome. >> we are in the heart of tech and there was one tech name catching at tension of traders. tesla up for the third straight day after its skekdry is an even bigger surge coming. let's get in the money and find out. mike kuo, let's start with you. you made it out here too. what did you make of tesla? >> i didn't drive a tesla to get

here because i think even under the best of circumstances they can only make it about 200 miles. they're going to come out wp model x very soon. this represents an enormous opportunity for them. this is a company that i probably underestimated on many occasions thinking about what their auto sales would be. think about it this way. okay? the most profitable car company right now, normal car company is porsche. they do about a 20% net income margin. if this company does that and this car is a success, they could very easily justify the valuation they see here. you don't need to have revenues like ford motor company to get ato a ford motor company valuation if you're selling cars with higher margins. >> upsiding of the secondary overnight was good. zblelon musk had a big share of that. i think if he stayed away the stock would be significantly lower. he didn't. he bought a significant share. priced at 242 trading 243. i was in the camp that once it failed around that 290 level we would retest 225. we got down to 236 or so a week ago subpoena is that enough? maybe. i've still got to give this a

couple days to let it sort out but against 225 i think this is a name you can still own. i know dpan's not going to agree with me on valuation for a number of reasons but it's been a technical trade and the technical support. >> you don't even have to look at it from a valuation standpoint. you really have to think about it from a sentiment standpoint. to me think back just a week ago. they lowered those delivery estimates by about 5,000 cars. that's on a 55,000 number here. i think at one point not too long ago about a month ago when it was making new 52-week highs for all intents and purposes at 290 investor sentiment was very, very positive. they've been given a decent reason to think twice about some very key execution issues that need to go on in the next six months for this stock to continue to work. there's the other one. i just want to bring that up. look at that chart right there. we flagged on a couple of occasions. that is a potentiality head and shoulders top formation. it really feels to me that if the sentiment has shifted and we do have a minor execution blip in the coming months you could see that stock back toward that net