they're probably worried about the other. >> without a doubt, in terms of the aggregate dollars involved although google is a little bit different, it's not necessarily targeting people in the same way. >> did trump file for bankruptcy >> right it's usually pretty transparent. google will try to make that case >> michael, thank you as always. that does it for "closing bell" today. "fast money" starts right now. you just want massive tax cuts, that's what you want that's the only reason you're going so wild. >> and go wild they did. president trump promising major tax cuts and that sent stocks soaring to new highs. that song can only mean one thing, more money in your portfolio. small caps went nuts today also a record. for those keeping score, the s&p 500 has created more than $3 million in market cap since the

market has been elected. if we do in fact get meaningful tax reform, how much higher can stocks run pete >> quite a bit higher. i don't think it's priced in at all. everybody has been looking at this thing for a long time, saying the tax reform, all these various things, i don't think any of them are in there because i don't think anybody believes we'll be able to get there if we do, holy smokes, that's a great catalyst i look at these financials, the way we exploded to the upside. the rates weren't doing anything special but look at citi, jpmorgan, goldman sachs, they're breaking out i expect to see the xlf at 30. >> it did hit a nice level on the ten-year yield >> today it didn't do a whole lot. we're not at the two six level like we were the explosiveness of the facts, which has been record earnings and revenues, that's what people

care about >> yeah, no, i 100% agree. first of all, i don't think anything is priced in for tax reform it could add 7 to $10 of earnings to the s&p 500. as far as if things go through the question is if they go through. the problem is if you're an investor, you can't sit back and not discount a very meaningful, meaningful and potentially positive outcome so you have to get prepared for that i said earlier, maybe four months ago, investors were going to give this market a pass until first quarter of next year they will continue to do that. as we get closer, you'll start pricing in some sort of tax. >> it's clear from the performance of russell, it broke out in a massive fashion i think there is -- obviously investors weren't placing a lot of hope on major tax reform in that sector. but what about the s&p we talk about the s&p, it's been trading within a tiny band for it seems like a very long time right now. and i don't think 40 blips on the s&p is saying a whole heck

of a lot i think there's no reason to believe there is going to be meaningful tax reform in 2017. >> a tiny band but right around record highs >> that's fine okay okay >> we also have, we just said, the ten-year, two three, it was two six nine months ago. crude oil is at 50 bucks, where it was nine bucks ago. the dollar is lower than it was nine bucks ago i think i'm having a huge problem with this side of the desk tonight i just think with all those ingredients in place, the s&p up on this announcement on tax reform, that's not going to happen it's just not going to happen. >> yet here we are >> that's fine, pete what i'm saying is when it doesn't happen, we'll have that correction >> if it's not priced in, it doesn't happen, we should be exactly where we are, no the logic is it's not priced in.

>> where do we think the russel is going to go if this thing dice >> if you look at today's action, people are starting to discount they'll have to start discounting in some sort of -- if it happens and you're caught not long enough, it's a problem for your performance i mean, you'll totally underperform this market >> what are you talking about? >> people were chasing data today. they were chasing data it outperformed massively. it's telling you we're setting up for an acceleration of this market >> i have no idea. it's hard for me to know i remember fred smith. federal express. >> we were talking about tax reform you know what rate fedex pays? 34%. 34%. >> usurious. >> compared to competitor dhl which pays 12% >> if they were to get that down to 20%, huge, right? i've got to tell you something this show tonight is like one of them breakfast burritos, a lot of great things wrapped up in a

small package. that's what tonight is with that said, i say this all the time, the market doesn't give you an ample amount of time to buy the lows or in this case, sell the highs to dan's point, yes, we've been at this level is he s&p for some time but in my world, we're just getting ready for the next leg higher the russell, which we discussed with carter braxton on monday, up 2% today, continuing that performance, i think it will drive the s&p higher >> one of the biggest beneficiaries of tax cuts, just don't tell me russell. >> in the energy sector, right, you look at the refiners, the refiners benefit big time. free cash flow will accelerate we talked about that in the report this morning. m&a is going to pick up. >> because of repatriation >> repatriation, all that stuff. refiners win in this scenario. certain parts of technical win in this scenario >> it's a great tailwind for technology, which has already

been moving to the upside. that was based upon nothing but great earnings and growth. and you look at valuations, not a stretch. there are areas in the market, no doubt about it. you want to talk about f.a.n.g. names, i would agree with you. >> there's no evidence, though, that repatriation for mega cap tech is going to lead to a boom. microsoft immediately paid the $32 billion special dividend, $30 billion buybacks, which is all great. >> for the administration, right or wrong, it's points on the board. it's a step forward instead of backwards. >> let me just say this. you guys are talking out of both sides of your mouth in a way here if you get a quick fix sort of tax cut just so he can put a win up on the board, that doesn't mean tax reform. i'm looking all day on the network, individual tax rates. that's the thing that's going to help his base. and it's not there it's not a postcard. i saw six levels, then i see three, then i see a potential higher one it's a bunch of nonsense

>> i'm talking more sentiment versus actually a tax reform or a process -- >> catalyst, baby. >> i'm talking about people thinking this could occur. >> did you see the headline today, he's winding back the public/private partnership for infrastructure the legislative agenda is done, they're scrambling for any -- >> you mention microsoft and what they did the last time around i'm an investor in microsoft am i happy that this happens am i happy that -- >> i think so, yes >> at the end of the day, if you're a shareholder in these companies, it's a good thing >> and i understand what dan is saying, nobody knows what any of these corporations will use the money for. i would submit, i don't even know if that matters, because the market will say, look at this, this is, a, accretive, and adding, what did you say, fuel to the file. >> fuel. kerosene on top. >> wow >> you should come sit over here >> you want me to move >> no, stay where you are. sit down

thank you. mike wilson is chief equity strategist at morgan stanley, the biggest bull on wall street, with an optimistic price target. mike, good to see you. 2700 is without any tax reform, presumably >> 2700 included at least progress on -- >> progress. >> yeah, progress in terms of the legislative agenda the idea we had last year was we needed fiscal so we could sustain this debt bubble we had around the world a lot of people misconstrued populism as a bad thing. it's a good thing because it forces the hand of legislators around the world to pull the fiscal lever directionally moving in that way. we made a call a month ago, we thought last year they got way ahead of themselves after the last election, we got way too excited. we've been consolidating that for the whole year in august it was basically not priced at all. we just thought the

risk/reward -- way good. today was a short term euphoria on some of these things but we think this is the primary trend, small caps, financials, energy, i was on the show a couple of mondays ago talking about energy as an opportunity. it doesn't mean that f.a.n.g. or tech gets left behind, they can both work under this >> "progress" is a little amorphous to me. if we get the corporate tax rate to 20%, get some sort of repatriation, does that move the 2700 higher? >> not necessarily >> or make it more likely? >> it makes it more achievable to get to 2018 estimates, you need tax tax is about 6% benefit to the s&p and a 25% rate by the way, other groups that could benefit, it is energy. energy could get a 22% benefit next year as a group if you just go to a 25% rate so what it means is that the

2018 numbers now are more achievable the 145, 146, was a big number versus 130, is now doable. we can pay for the 145 already that's how you get to 2700 >> let's go out there and extrapolate. if we do get 25% and the estimates go up by 6%, that sounds like an economy heating up even faster does this become a push-pull event where yellen starts ratcheting rates higher or faster than the market expects >> this is the trick, be careful what you wish for. we're late cycle, we made this call back in april, we're looking for the boom-bust. this is part of the boom, it's the fuel, gasoline, kerosene on the fire, but at the wrong time. that will cause the fed to go faster next year just as people get excited about this probably when they sign the bill in the first quarter, that's probably around the time the market will top for this cycle. not the end of the world, but it brings the end of it cycle

closer that's the irony >> you're telling investors right now to invest for the likelihood of some progress on that >> not just for tax. there's a very strong earnings recovery that's been going on since the beginning of '16 the multiple expansion, people are feeling more confident that we can sustain it. tax is icing on the cake, it gets people to believe and finally come in and show on me optimistic for the most hatable market of my career. >> mike, thank you >> thank you for having me >> he's speaking pete's language >> i'm loving this guy >> the kerosene, the icing on the cake you're short the s&p >> he makes a very cogent argument there's not a whole heck of a lot going on right now that should make you too worried. you brought up rocket man, that's a huge thing. if that were to find some sort of diplomatic cooling right now, that's obviously more kerosene for the fire, given the backdrop if interest rates don't move up too far, too fast.

we forget that the en-year treasury yield was trading at 3% in may of 2013 we were just touching 2% of the other day. so yeah, i get all the reasons why equities have this upward bias the biggest issue i have is the level of complacency it's gone on way too long. people forget q1 of 2016 was a bloodbath. we forget what that's like and we rally over 50% from there >> it's true >> let's get to what we did today, pete. >> i added to my financial exposure the other day there was a huge paper out there on the spiders, again, second time in the last couple of weeks. i actually grabbed some deutsche bank today and i took a dip into nike i think the pullback is far too much i think it's a great opportunity. i'm looking at the stock, well off its 52-week highs a month ago. i'm not happy with what's going on in the u.s. for nike right now. when i look at the growth aspect for china and the potential there and the fact that they've got a very incredible shoe line

going forward and everybody says there's no innovation, i think their new distribution is going to be much better because of all the folks that have actually left the industry, and it's putting them in the e-commerce world even faster to compete, and they're on amazon. >> i like cof here, attitude capital and financial. and alvlo is going to benefit. >> i hear you on the financials. i would mention on the nike front, foot locker, fl, should have traded worse than it did, it closed unchanged. that might be a tell >> guy mentioned the show is like a burrito >> breakfast burrito >> this is an amazing show he's right i don't know about the breakfast burrito, but it's got a lot of good ingredients ahead, the one and only tony

robbins, often called the ceo whisperer, he'll weigh in on what's keeping the "c" suite awake at night plus, trouble on the march ta tarmac a woman dragged off a flight and later, the hollywood legend and owner of the golden state warriors, peter gruber is in the house 's hheere to talk president trump and ratings. much more "fast money" still ahead. k it? ♪ ♪ yes you can ♪ can i kick it? ♪ yes you can ♪ well i'm gone

throughout history, the one meal when we come together, break bread, share our day and connect as a family. [ bloop, clicking ] and connect, as a family. just, uh one second voice guy. [ bloop ] huh? hey? i paused it. bam, family time.

so how is everyone? find your awesome with xfinity xfi and change the way you wifi. welcome back to "fast money. oil making a comeback, up more than 20% since hitting its low in june. one trader is betting big on a crude crush ahead. >> these guys were justtalking about obviously oil and gas stocks as a primary beneficiary if we were to get tax reform into 2018. one trade in the s&p energy oil and gas etf caught my eye. put volume was three times that of calls today it was largely in one trade when the etf was trading 33.73. a seller too close to the 22,000 or so at 37 cents and they rolled the premium up to the

december 33 puts paying $1.43. those break even at $31.37, that's down 6.5% from the trading price. obviously we have no idea whether that is an outright or someone is rolling the strikeup closer to where the stock is trading or some sort of protection one thing that's interesting, we were just talking about the price action here. look at this well-defined down trend. it's up about 17 or so% from that low just last month which is pretty interesting. here is the five-year chart. when i think about rolling and strikes, pete looks apartment this stuff closely too 29 was the prior low in the summer 33 now is very near where this kind of break-even is. i think that's kind of important to keep an eye on. then just one last thing, we know the vix is trach at 10, option prices are relatively cheap. the price of options in the prn

etfs like this, buying options is one way to do it or to be buying protection. >> pete, you probably saw this action today >> i saw this today. dan mentioned somebody could go rolling up, that's exactly what they're doing. it makes sense, why not protect yourself, roll up to the 33's. last week some massive call buying, october 33's as well i think this is all part of the same trade it also plays into the idea, low volatility, gives you a great opportunity to play the options world. that's exactly what people are doing. >> for more "options action," check out the full show friday 5:30 p.m. eastern time still ahead, hollywood legend and owner of the golden state warriors, peter guber is here speaking out for the first time since his team was disinvited to the white house. we'll hear what he has to say about president trump and the future of sports i'm melissa lee. you're watching "fast money" on cnbc, first in business worldwide. meantime, here's what's coming up on "fast. >> let me handle this.

>> calm down, get back to your seat >> now there's even more drama in the skies as a southwest passenger is dragged off a plane. will investors punish the stock? plus the man, the myth, the legend tony robbins may have just discovered the key to the bull market and he'll share with us when "fast money" returns i'm here at the td ameritrade trader offices. steve, other than making me move stuff, what are you working on? let me show you. okay. our thinkorswim trading platform aggregates all the options data you need in one place and lets you visualize that information for any options series. okay, cool. hang on a second. you can even see the anticipated range of a stock expecting earnings. impressive... what's up, tim. see options data like never before. with thinkorswim only at td ameritrade.

i can't wait for her to have that college experience that i had.

the classes, the friends, the independence. and since we planned for it, that student debt is the one experience, i'm glad she'll miss when you have the right financial advisor, life can be brilliant. ameriprise president trump continuing his tirade against the nfl he may soon have a new sports team to target julia boorstin has the details in l.a julia? >> reporter: hey, melissa.

president trump continued his attack on the nfl at a manhattan fundraiser last night, saying roger goodell should have suspended colin kaepernick for a couple of games. he says we cannot let anyone disrespect our country this morning the president tweeted, quote, spoke to jerry jones of the dallas cowboys, jerry is a winner who knows how to get things done players will stand for country so far nfl sponsors are sticking with the league. under armour, ford, fedex, nike, anheuser-busch and hyundai standing up with the league. president trump's tirades haven't just been focused on the nfl but on the nba as well with its preseason starting this saturday the president of course canceled the warriors' possible white house visit this past saturday

tweeting, "going to the white house is considered a great honor for a championship team, stephen curry is hesitating, therefore invitation is withdrawn. lebron james called the president a bum. this of course quite a different feel for the start of this nba season back over to you >> thank you, julia boorstin in los angeles. peter guber is the owner of the golden state warriors. he owned movie studios in the '80s he also owns an esports team, liquid first we have to start off with president trump, the protests, the disinvitation. how did you hear about that and what was your reaction >> i think i heard about it like everybody heard about it, on television my reaction is he's the president of the united states, i'm do what he thinks he wants to do for what he thinks are the reasons. the team and the players will do what they want to do for the team and the reasons and therein lies the difficulty,

that different opinions about different things i respect my team, i respect my players, i respect my partner joe and rick and the coach, the decisions, and certainly the players. that's the team i'm on i'm with them. >> do you respect the president and what he had to tweet and how he handled this whole situation? >> i respect the office of the president completely there have been many presidents that i didn't agree with their policies and their decisions but i always respected the office. i still respect the office the incumbent, the chief in charge, you have to give respect in the sense that they are the person there but that doesn't mean you don't relieve yourself of our obligation to think and be appropriate and be a good citizen and have your own opinion and support your own views and your team's views when they're appropriate. so as an individual, i do that i exercise my rights as a citizen to have an opinion, to live by that opinion and act by that opinion i respect other people's opinions as well, although they may differ with me

that's the beauty of this country, you can have those opinions safely. >> just days after the invitation was canceled, the invitation to the white house, nancy pelosi reiterated an invitation i believe had been sent out in june to the team and the coach to visit the capitol are the golden state warriors going to be going to the capitol? >> they're going to the capital, they're going to play the basketball team there. what else they do there will be a matter of decision for the team, the coach, the ownership, the league to decide i couldn't opine on that right now because the facts aren't on the table as to what to do we are going to be in washington and we will be seen. >> all right when it comes to what's going on at the nfl, do you agree -- i mean, where do you stand on that issue? do you think the players should kneel if they want to kneel and should it be a factor in their minds, what this does to the nfl itself and to the sport?

>> i'm not in the nfl. >> right, sure >> i'm in three other leagues but i'm not in the nfl it could be difficult for me to understand >> this could come to the nba. >> it could come to anyone each issue is idiosyncratic, unique to itself, how it's done. we respect everybody's opinions. we respect the collective opinions and different players and teams. is it done with the right decorum, the right respect for the other person's opinion that's what it's all about we all live on a diverse planet. the players of our teams are diverse. ethnicity, where they come from, international. there's a lot of factors to be involved it's not one simple thing, do i agree or disagree with the person i do think nonviolent freedom of speech should be protected and respected. i think there's a place and time, there's proper decorum we have to remember the civility

of our society depends on the proper exchange of ideas, as different as they may be if every side does that, it's better for our planet. >> president trump has -- i don't want to say gone out of his way but targeted the nfl pretty fearless, eviercely, he the business can go to hell because of the protests. are you concerned at all that his radar is going to turn to the nba and the impact it could have on the value of your team or the sport >> you know, there are always weapons and defense mechanisms for every battle the idea is, i hope it's not a battle, i hope there's an understanding and appreciation for everybody's viewpoint. these are serious matters. these are not trivial matters in any way whatsoever you have to recognize that but you can't treat them disrespewith disrespect for other people's values and opinions. hopefully real decisions can be made about really tough issues,

and the country and the citizenry can benefit from it. so i think the expression of one's ideas is valuable. i think it's a valuable -- it's the right thing in a society we have a society that doesn't suppress those ideas we have differences, we have arguments over it, sports, politics, business, that's part of our country it's a strength, not a weakness. >> if it comes to the nba, it comes to the nba, and we'll see where it goes? >> tsunamis hit everything, they're equal opportunity abusers. i don't know what will happen with this. >> let's turn to esports team liquid, obviously you think this will be a huge thing. could this be as big as, let's say, an nba game >> it's a huge thing, enormous it's a global audience, played globally by huge numbers of people, very young to now up to 30 years old and these aren't people that necessarily are all watching television people call them the cord cutters. a lot of them are cord nevers, they never had cords, they've

been doing it this way all along. it's a unique change, because most of the audiences in sports, really live sports, are passengers you watch it, and you play it at home, but you watch it, you observe it in this sport, the audience is a participant. you can play along with the teams and players, you're in their homes, playing with them, constantly engaged that really is what millennials and younger people really like they like that activity. they like that interaction they like that participation it's an emotionally engaging sport. it is emotionally engaging for them it is for older people more difficult to grasp because it's easier to watch a basketball game going back and forth and seeing the ball go in the hoop, you know the rules some of these games, you watch at madison square garden, you go, duh, what's happening? but it's big business, it sells out ten, 15 minutes. the dog shows don't sell out in 20 minutes

hockey games don't sell out in 20 minutes most of the baseball games don't sell out in 20 minutes when you see that, it gets everybody's attention in the business food chain, merchandise, food, venue management, sports, betting, gambling all of those things see that engagement and they're in the emotional transportation business, all these businesses they want a piece of it. that's why you're seeing it happen >> peter, is there a way to integrate what you just discussed into major league baseball and the national basketball association, is there a way to bring that technology into the arena for the audience? >> that's really the trick you asked the right question >> of course i did >> how do you take an audience which is generally linear cable, analog native? generally you don't. what do you do you're seeing that, i could ask you how many people here are addicted to crack cocaine, none of you are addicted.

liars. you're addicted to this. 271 times a day you look at this >> at least. >> every single time it's charging, you get sphincter arrest >> sounds painful. >> it comes in a digital playing field. that's where the world is going to a great extent. how those will emerge, how you'll have baseball and basketball and football with the digital native will be important, if you're going to interest millennials the audience is aging. you have to do it. whether it's fantasy, whether it's gambling, entertainment information, making the audience a participant is the challenge >> will we get to a point where traditional broadcasters will bid for the rights to broadcast esports? >> does a chicken have lips? absolutely for sure absolutely for sure. why? because you have audiences that they want. they want those -- the reason why sports on television is such

a valuable asset, while so much on television is being cannibalized, is because it's emotional. they want to attach the information to that emotion so the information of the ads and sponsors is resonant, memorable and actionable they want to move towards that this sport has all of those elements will it be integrated in quite the same way no it will be integrated in a different way. but you can already see it, the big sports businesses, the big products businesses are moving towards that audience heavily because they know those are the future buyers for their product. >> peter, thanks so much for coming by. we greatly enjoyed having you here >> my pleasure >> peter guber does a chicken have lips that's the first time that's been heard on "fast money," an historic day >> he said he's in three different leagues. three leagues that have enjoyed really tremendous appreciation, if you look at the values of the teams over the last few decades. i wonder if it's a bit of a hedge, when you think about where content is going we talk about nfl ratings.

if you had a portfolio of these teams -- because the next l.a. dodgers or next green bay packers may be in china or europe or something like that. i think it's a fascinating space, i love talking about it >> team liquid 20 hours a week, right it's incredible, nielsen says 15 hours a week on tv 20 hours a week right now. it's only going to go higher that's why amazon is in the game >> and video game players. >> right absolutely it's all about participation that's what it's about, that's where you move ahead, our superstar lineup continues. bestselling author tony robbins will join us live with his best advice for investors southwest is the latest airline in the hot seat after this video of a woman being thrown off a plane went viral today. anw will this impact the compy's stock? much more "fast money" on this very busy night, still ahead think again.

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the s&p hitting a new intraday high today, a record year for record highs. bob pisani is at the new york stock exchange with more bob? >> reporter: hello, melissa.

37 record closes on the s&p, the most on a year to year basis since 1998, wow. a slow grind higher all year one of the more unusual features has been the lack of any significant pullback it's a little weird. we haven't had a 3% pullback since march of this year we haven't had a 5% pullback since june of 2016 and we haven't had a 10% pullback since all the way back to august of 2015. that's a little weird. i've been here 20 years. normal years with stocks advancing, we'll see at least one pullback in the 10% range, that's my experience another weird aspect of this rally, the low volume and the low volatility volume is a three-year low right now. here is the good news. it doesn't seem to be killing enthusiasm at the retail level for example, trading volume in the third quarter is down 11% compared to the same period last year but daily average revenue trade or d.a.r.t.'s as they are

called, they're up 15% from the same period a year ago, wow. some are engaging in market rotation trades that we talk about all the time others are using options more to hedge positions or to raise some income, that's a big trade now those better trade volumes are helping the stocks of these companies. look at ameritrade, the highest level since 1999 was hit today they completed the scottrade acquisition last week. assets hit a record high for ameritrade, tenth month in a row. e*trade hit the highest level since 2008 remember, melissa, higher rates generally help the discount brokers as well. back to you. >> bob, thank you, bob pisani at the new york stock exchange. asks >> i love bob, the royalty of cnbc but his point about volume, he makes a specious argument. that's been the argument for five or six years. the reality is, volume hasn't been there, and the market has

rallied. we continue to look for volume to indicate something, but those days are long gone >> for more on this rally that doesn't seem to want to quit, bestselling author and entrepreneur tony robbins joins us live from the iconic conference if los angeles. tony, welcome to "fast money," great to speak with you. >> nice to see you again, melissa. >> one of the nicknames among men is ceo whisperer what are they saying about this record breaking rally? >> if you look to the majority of them, they tell people that you can't time the market. the first thing that's hard to say to this audience especially, but they're not traders for the most part. they still think in terms of the long term. they still have the mindset that says i'm going to be wrong on my timing it comes down to asset allocation we know there's going to be a correction

on average, we have a correction every year a year ago january we lost $2.3 trillion in january, down 9% 80% of those corrections don't become bear markets. the last 40 years, every five years, they last a year, corrections are 33% on average, you know, a third of them go more than 40%. but all of them thus far have been followed by a bull market we all remember march 9th, 2009, we go up 69% 12 months later if you listen to warren buffett, you listen to these people, they say the worst bet you can make is to try to time the market and to bet against the u.s. economy in the long term >> would your advice to the retail investor be the same? retail investors are fueled by this notion that permeates through life in general, fear of missing out. they're afraid of missing out on this rally which doesn't seem like the right reason to be in >> it's the absolutely wrong

reason to be in, you're absolutely right your plan can't be based on trying to time the market because you'll be wrong. if you want to know what's most risky, if you look at jpmorgan, they did a study, you saw the same thing with charles schwab, 20-year study, the market, s&p, has done 8.2%. but if you missed the top ten trading days in only 20 years, just ten days, you find yourself with a 4.5% return if you missed 20 of the best trading days, one day a year in 20 years, you got a 2.1% return. what they found is if you missions the top 30 days in 20 years, 1 1/2 days a year, you lost money if you're saying, yeah, but what if i get in at the wrong time? schwab did a study of those same 20 years and found what if you were somehow a genius, perfect in your timing, versus you got on the worst day, got in, the next day it crashed, versus you dollar cost averaged versus you're in cash obviously cash loses no matter what in these situations but what's amazing is, if you

look at over 20 years, the difference between the person that got on the perfect day and the worst day in this particular scenario was $40,000 so i think you can't afford to try to time the market you have to study the long term elements and have a diversification plan to protect you when you're wrong. ray dahlia, a guy that's made money 23 out of the last 26 years, he says i can't time the market, no one's going to time the market perfectly you have to have a better system in place the retail investor has to learn from that. >> let's talk about various investments, because you are a notable businessman. we're just talking about to peter guber. >> my partner. >> and a partner in esports. so i'm just wondering, what do you see in esports that's so special, why is this different from some of the other ventures you could invest it, what's so great about it >> i love sports ventures anyway, i also invest in the new soccer team in l.a. as well. i'm in esports because more people play esports today than

other sports combined. i'm in a different generation, to me this sounds like, how could you call this a sport? but when we sell out a stadium here in seven minutes to 15 minutes and you've got 20,000 people watching these kids on these games, our players make $1 million a year they make another million, and what they're doing right now, coaching kids on how to play i just think for this generation coming up, especially with virtual reality, and i'm involved with the next vr as well, we have exclusive on ucf, live concerts being done by live nation, all of them, and on the nba. so the combination of these is going to come together and produce something that we haven't even seen yet. i think the opportunity is extraordinary, from a business perspective, these aren't cord cutters that are watching and playing these games. these are people that never had a cord advertisers need to reach them i want to participate in helping these teams win and grow but i also want to help the sport grow as well. >> last question, also an investment question. what do you think of bitcoin >> i think it's very iffy.

it's like anything right now, it's really a gamble, nobody knows. you saw what happened in china, the impact that's happening right now. i don't have a clue. i look at that as like going to vegas. things that aren't really predictable, they couldmake yo a lot of money i would say this is -- i pick a certain amount of money, i say, i know it's just for fun, i know i could lose, this is vegas, and bitcoin fits that category for me >> tony, great to speak with you, thank you for your time >> thank you, melissa, great seeing you again >> tony robbins at the iconic conference in los angeles. it's like gambling >> i'll put my dk hat on, a very large what, size 12, 13. one of the things is i'm learning about the space here, it's not just about the currency it's really about companies that are implementing the blockchain tech if i were an investor interested in blockchain tech, i would own the crypto currency. i would look at the companies that are implementing the technology >> what about bitcoin itself >> i own it, i think it's going

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welcome back to "fast money. southwest airlines feeling the heat today after a passenger being dragged off a flight goes viral. phil lebeau is in grapevine, texas with the story hi, phil >> reporter: hi, medical meliss. here is the video of the woman being removed from the flight on tuesday. she said there was allergic to dogs, there was a service doing on board, but she couldn't produce a medical certificate. she said, no, i'm staying on the plane, get the dogs out of here. the police said, if you can't prove you have a medical emergency, you'll have to get off the plane. southwest released a statement saying, our policy states that a customer without a medical certificate may be denied boarding if they report a live

threatening allergic reaction. our flight crew made repeated attempts to explain the situation to the customer however she refused to deplane and law enforcement became involved southwest's shares, we should point out this woman was subsequently arrested once she got off the plane. she was charged with obstructing a police officer as well as a few other charges, and then was eventually released. the difference between this incident, melissa, and past it's not incidents that got attention a couple of months ago, those were instances of overbooked flights. that's not the case here, this is a woman who said she had a life-threatening allergy, couldn't prove it, and as a result, southwest followed protocol which is, you have to produce this or you have to get off the flight that video got a fair amount of attention but a far different story than what we saw earlier this year. >> sure is, thank you, phil lebeau

southwest's really did almost nothing after this video went viral. you've been an investor in airlines >> it is a headache, you see that video and it is a little shocking and there was a jolt to airline names, but as phil pointed out, they followed protocol >> and the protocol is a fair one. >> they don't just make decisions to yank people off, it still doesn't look pretty, unfortunately. but the initial reaction, i mean, the stock saw that and realized, you know what, this was protocol >> what people didn't see is the police officer saying to her, you need to leave, asking her to leave, and her not responding to that they had to use force. that's what you're seeing on the video. it's disgusting the way people are abusing our system and not respecting authority >> what's the airline trade? >> held 50 in march, 50 a few weeks ago. you trade it on the long side against that 50 level. boeing, you see what that sucker is doing >> get along, doggie >> doggie, see what he did

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respond to president trump's tweet this morning he said, i thought the idea that misinformation on facebook changed the outcome of the election, i was administrative, i regret it. that is zuckerberg responding to trump. back to you, melissa >> thank you very much, seema mody facebook and some other tech giants have been called to capitol hill to testify about this notion that russians bought ads to influence the political campaign is this why tech what's a target on its back? >> for all intents and purposes, you have the president of the united states who takes one view about what happened on social media, that sort of thing, you have everyone else who feels differently. you also have this kind of -- it's very much playing out as the election did you have this coastal elite thing, then you have everyone else to me, roger comes on a lot, he's been talking a lot about this, saying this is a huge

potential headwind for these stocks that have actually appreciated for the companies. i think to me it's something you really have to keep an eye on. there's facebook, i know you guys are bullish, it got hit really hard on monday, it's come back a little bit. it's something to keep a close eye on >> i was hoping it would get hit further. i was looking for a 10% pullback i was looking for something closer to another 4 points from where it was it added some points today because of this move they shake off these tweets so equivoc quickly, it's amazing. they don't have the same effective long term as they once did. that's reality, that's why we see the reaction today the reality is facebook makes a lot of money, they have incredible growth. >> we have ad week going on, the metrics coming out of that has been super positive for facebook you look at facebook in the near term, it will continue to work long term, could it be a hiccup?

i think it's not going to happen over the next several quarters >> i'll play devil's advocate. that whole fake demographic thing that facebook had out there, 54 million people, there are not that many people >> that's great. that's fact. that's real. that's something that -- right, you shrug that off, that's absolutely amazing, i agree. up next. final trades your brain is an amazing thing. but as you get older, it naturally begins to change,

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it has been a veritable breakfast burrito today but it's time for the final trades. >> time to scramble some eggs. citi is going higher, giddiup. >> abeo, the stock is going to continue to go higher. >> the xop, i'm not buying the oil and gas rally, i'm selling >> what did issa i at the top of the show >> breakfast burrito >> you looked at me like i had

nine heads it was a breakfast burrito >> delicious >> exxonmobile is churnin' >> i'm melissa lee thanks so much for watching. see you back tomorrow at 5:00. "mad money" with jim cramer starts right now "mad money" starts now hey i'm cramer welcome to "mad money. call me at 1-800-734-cnbc or tweet me @jim cramer not all rallies ar