yet, but that's the thing i would be looking out for because the technicals have started to line up well. >> we haven't talked about ramco. >> we have ten seconds let's keep it until tomorrow because i'll be back tomorrow. thanks for watching "closing bell," everybody. >> "fast money" begins right now. >> life in the nasdaq market overlooking new york city's time square, this is "fast money. traders are tim, dan, and uber hits the skids after posting another billion dollar loss. and investors taking a bite out of mcdonald's. is this time to get into the stock? plus warren buffet berkshire hath away is sitting on a $130 billion pile of cash thoughts with what they do with that kind of money major markets at new highs to

start the week even the dow the first record close in almost four months. is this a breakout or a fake-out, pete >> it certainly feels like a breakout and when i look at the options world, we see nothing but huge buying right now. and we've seen it kind of moving in towards this in energy, in some of the financials but today it was the emerging markets. and dan and i talked about this months ago they were buying the eem, 250,000 in a single print and 30,000 here, 30,000 there. fxi the same sort of story so it seems like everybody is planning for a breakout. volatility shocked me, by the way. it's still trading right aurnd need 13, like 12.5, it's amazing to me with the market we've got right now that people are feeling so comfortable, maybe too comfortable. >> so comfortable in a risk-on sort of mentality. >> i'm never comfortable what's the title of this game, breakout or fake-out >> that's the title.

>> breakout. >> you believe in this rally >> you have to believe the s&p 500 is making a new high almost every day. the russell in july of 2018, but the s&p is absolutely breaking out. you mentioned mr. buffet has $122 billion sitting around. we'll talk about that later. but one of his big metrics, the one thing he looks at and makes decisions on is basically market cap of the broader market over gdp and that's at levels we haven't seen since 2008 and 2009 and the vix at 12.5 and the environment we find ourselves in makes no sense all that said, the s&p goes higher every day, so by definition it is a breakout. why are you looking at me funny? i haven't believed it for a while. but what i believe and what's reality are two different things i don't believe we should be here, but we are so you have to make decisions

based on where we are, not where i think we should be. >> financials, industrials, energy, materials, bond sell-off, all of these things point to good things for the market. >> and i don't think you need to have financials breaking out to all-time highs if you look at the semis, it's the easiest opportunity to attach yourself to the rally and say no matter where you're looking -- i realize it's been a sloppy way of getting there, but you're up 22% from the below-off high that we had last year, which means you've had plenty of opportunity to sell them and if you had stayed in the trade the whole time, i think you're doing well. but pete talked about the emerging markets i actually think eve been easing into this move where we're getting into a dollar weak peered idea which is going to be beneficial to emerging markets and in brazil and russia over the last couple of days is important. it's very important to energy. and at times with the ipo news and everything else you're hearing. but if you look at this market, to me the thing that is exciting

about this move is not only have you had the fed come and go and tell you they're out of the way, you've had a payroll number which reinforces the consumer is alive and well we've gotten through third quarter where no one says that the fourth quarter looks awful and i think you have breadth in the market, which i'm waiting for dan to push back on. but the bottom line is if you look at the industrials and semis and small caps and financials and banks, they're the same thing i've given it all to you go, dan. >> maybe they are. you could have said the exact same thing when the market made a new high in july that was an incremental high over the prior high and the vix was at just below 13 it looked like we were optimistic about some trade stuff. we've said this every three or four months over the last year, year and a half. >> semis are 20% higher. >> so i agree that semis have been making lots of new highs

and outperforming the s&p, and microsoft and amz. but at the end of the day there were some new good highs showing the broadening out of this rally. but it's important to remember that we are literally just 4.5% over the october 2018 all-time high, which was an incremental high to the january 2018 high, where just 2.5% from the prior my point is we make these incremental highs and we sell off. now, that being said, there's been some great trading opportunities when we get these sell-offs. we've had 7%, 8% sell-offs i just don't think you buy new highs. the only difference i would say is that we're heading into the end of the year and it may not make sense to sell anything at this point because you might get a move that goes higher. >> i think the impressive part we've seen, we've started earning season, and you start looking at some of these numbers and some of them have given pretty good guidance so we say we don't really know

what's coming up next, we've gotten good guidance from quite a few companies so far so there's a much more positive sentiment i'm seeing, at least, through the earnings season than i ever would have expected. >> we have seen that, though if you look at the end of april when we were in like just at the bulk of q1 earning season we saw a new high on the s&p. and then we saw it in july it was the same commentary that's exactly where we are right now. and if you're telling me that you think the fed may not screw things up, then you have not been paying attention over the last 15 years, and if you think that the trade issue is solved, then you have not been -- >> no, and then have at it, except for the fact that the fed is at this point gotten the market pretty state on what they want to do we've taken two cuts off the table for december and january they're not hiking any time soon. >> they're not going to do anything >> you make it sound like the

fed has control over this. hold on, one second. the fed has lowered interest rates three times since july what did we see the ten-year treasury yield do? the market will move the way the market is going to move. this is a massive market so the way i see it is if you're relying on the fed to get things right and to kind of point the drek direction of which yields are going then i think you haven't been paying attention. >> no one is relying on the fed. i think we've all been appropriately critical of the fed. in fact, if anything, they're starting to get the sense that people are looking to fiscal policy to be the answer. i do think that yield probably hit some bottom, but more importantly, we're addressing company fundamentals and we know -- and this happened i think in the first couple of quarters of 2016 everybody assumed we were careening off the road into a recession. we're not going into recession the third quarter gdp, we're going to see here at 2%.

we're nowhere near careening off a cliff. if you look at banks, they behave that way and industrials behave that way. we've got google and amazon and apple and the biggest companies in the world joining in, which you said would never participate, which actually are doing something in terms of banks, small caps and industrials. >> wake me up when the banks make new highs >> who cares about all-time highs? >> it matters when you're talking about breadth and how a market is where it is. >> they have. >> can i interrupt here? >> you run a show. >> yeah, it's your show. >> i was going to say, guy, when you say price is truth -- >> when i say price is truth, people get mad at me with all the information you can take in, the thing you base your decisions on are where things are trading. the decision to buy or sell apple at 237 is much different if it were trading 185 so when i say that, that's what i mean the end decision is made based

on where things are trading. so here we are at the s&p all-time highs it's clear as day that it's breaking out to the upside. >> many fibers in your being want -- do not want -- >> we're talking about fiber in his being. >> that's a good point >> that's an excellent point by tim. >> when you look at what is happening, valuations in the market, fundamentals, you don't necessarily want to believe the rally. >> but you have to believe it. >> but you are >> the market is stay rational longer than you can stay solvent. we started it with mr. buffet's $122 billion cash, and we'll talk about why he has that and the point i made earlier is the one metric that he uses to look at the market where it's overbought or oversold is absolutely by any definition at 146% market cap to gdp is flashing red. >> coming up, uber careening after reporting results. we'll break down all the big

headlines. we're keeping an eye on shake shack. down 15.5% we'll have the highlights from the call as well we're live from time square in new york city. much more "fast money" right after this ood! high protein. low sugar. mmmm, birthday cake! pure protein. the best combination for every fitness routine. i'm off to college. i'm worried about my parents' retirement. don't worry. voya helps them to and through retirement... dealing with today's expenses ...while helping plan, invest and protect for the future. so they'll be okay? i think they'll be fine. voya. helping you to and through retirement. man: can i find an investment firm that has a truly long-term view? it begins by being privately owned. with more than 85 years of experience over multiple market cycles. with portfolio managers who are encouraged to do what's right over what's popular. focused on helping me achieve my investors' unique goals.

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money. uber, the ride share giant moving downhill. we've got full team coverage standing by to break down the results. jean was listening in on the earnings call but we get the latest from josh lipton live for us in san francisco. >> melissa, cnbc actually spoke with uber's khosrowshahi and asked him when does uber break even here was his response. >> we increased our 2019, the midpoint of our guidance and as far as ebitda goes by $250 million, and i'll tell you, while we haven't finalized our planning and it's going to take a lot of hard work from a lot of folks, we are actually targeting 2021 for adjusted ebitda profitability full year.

>> reporter: i also checked in with oppenheimer's to get his take on the quarter. he says the ride business was quite healthy, revenue was up 23%. he says there will be questions around eats, specifically with revenue largely in line on lower eats gross bookings. profitability metrics, at least his estimates he said were better than expected he was actually modeling 2022, so the goal there of 2021 ahead of schedule for him. on the call which just started khosrowshahi started off with regulations, noting that they'll continue to focus on productive engagement the regulations here in california have generated a lot of interest. lawmakers here would require the workers to be reclassified as employees instead of contractors. khosrowshahi says they're putting a ballot to voters here in california on that issue. and finally remember this isn't on the only news we get about

uber it's ipo lockup does expire on december 6th back to you. >> josh lipton in san francisco. what do you make of uber so far? it's interesting the reaction to the uber stock compared to when lyft said it would also be adjusted ebitda profitable by 2021, same time frame. and we have down 6% in uber. >> first of all, that was not emphatic maybe we'll model it out, we think we want to get to a place where we're ebitda positive by q4 which lyft has gone out and said in a succinct way. there's a couple of things you have the lockup avalanche that's coming out. they've broken the company down into five core businesses, but there's really only two. so this is the whole dynamic and there's some stock compensation issues which added significantly to the loss and i think people are concerned about that kind of stuff so there's nothing here that makes you think that they've turned the corner. and if you look at a structural

lack of profitability, i don't think you've stopped thinking that as of now. >> we're getting a sense, just year over year, when vcs were investing in this company, they were investing for other levers, so they could grow uber eats the public markets are speaking. they don't like the fact that one business is subsidizing the other and the whole is losing money, and therefore we can only say we are targeting ebitda positive two years out from now or whatever the time frame is. listen, this company very soon is going to actually have to scale back their ambitions for things other than ride share and autonomous, because at the end of the day if they're telling us that they can be positive in ride share or profitable, then the public markets aren't going to put up for it and that is going to be interesting to see over the next year or so, which brings us back to lyft, why perception wael it acted a little bit better, because they're just north american ride share. >> they like the business model

of lyft right now, they like the model better and because of that, that's the thing that stood out for me, is they continue to lose money at an unbelievable pace they're going to make money in 2021, so we finally have a path for profitability. but that's still out there enough that you've got to be very patient if you're waiting for uber and to see can they transform the company into the company they think they can. >> for more reaction, let's bring in the founder, fast money friend, jean munster so we see the reaction of the stock and we heard what khosrowshahi said about being profitable do you believe him >> melissa, no, i think it's going to take a long time. i totally agree with dan they're going to have to cut some project to get there a lot of language would have expected that the stock trades better in the aftermarket. i think the market is sending the same message this is just a little difficult to believe they were a lockup expiration as well coming down the pike this week and some estimates say 90%

of the shares outstanding will become eligible for trading, gene in your view could that be a buying opportunity at all? >> i think for people who have a five-year outlook it's a buying opportunity. i think if you have a one-year, this is still essentially venture capital. i think that's the best way to think about investing in uber here i'm going to go out on a limb and say that they're going to be cutting some of these other projects, the autonomy project, ultimately still surprised that's around, especially given some of the litigation those are things that can corrupt the stock in the near term so my belief is this is an undeniable opportunity around the way people are moving, autonomy, that future, uber and lyft both have a pull position within that. but as far as investing in the near term over the next year, it's still going to be a wild ride and i think tonight's results and the reaction to the stock in the aftermarket is evidence of that. >> gene, they talk about the

adjusted ebitda up 52% and will now cover corporate overhead costs. what does that statement actually mean? that makes it sound like they could be profitable on this core business and dan was talking about the fact that the other businesses aren't going to be supported by a core that's not profitable is it profitable now and should people take heart in that? >> i don't think they should take heart in that ultimately because they have these other businesses this is the reason why i think that lyft is the better play here so yes, it is some sign, it's a positive indication around that. but again, this company has some massive kind of a view of the future it's not just eats, it's freight, it's jobs they have the autonomous project going on so yes, that is a positive sign, but ultimately i think there's some bigger factors in play. and if i was going to put all of this together, i agree things are inching the right direction, but ultimately this company was a lot of work to the.

>> clearly a lot of work to do, but you mentioned freight. i think freight revenue is up 85% year over year is thata place where maybe they're going to catch lightning in a bottle or is that just sort of an outlier, gene? >> still too small i think this is a business that it's nice to talk about those kind of growth rates but it's a small part of the overall business and i don't think we can put too much in it something else i want to point out when we think about the road forward with uber that josh mentioned, and this concept about the litigation that's going on, or i should say the regulation that's going on in the state of california. they talked about 9% of their rides come from california but something caught my attention when the ceo was talking about this, and he said that lyft, along with door dash -- this is well known, but lyft, door dash and uber are all getting together to really tackle this legislation and come out with a new ballot essentially that's more fair to the ride sharing players and i thought that the fact that those three, which are fierce

competitors are working together on this, i think it speaks to the significance of what's going on around the regulatory environment. as an investor, it's important to realize that these are not solved overnight but if you take the step and say that there's going to be more generous treatment of the drivers over time, that puts this target of profitability into 2021 as essentially a best guess kind of perspective. >> gene, we're going to leave it there. thanks for your time good to see you. i think that's a good point. i mean, if that is going to be an issue, then that will really impact whether or not either of these companies can hit those 2021 profitability targets. >> and i guess the point that he's making, and it's kind of the point that i may, is that lyft, you can draw a straighter line even if they're not profitable right now and that's the only thing they do and uber is saying we could be profitable in that business, they have much greater market share and they're spent a lot more

we saw this with we work, we saw $47 billion valuation go to $7.5 billion in a matter of weeks. don't think you couldn't see that again in the public markets. by the same token, think about the beverage in dara decides to light dc capital on fire, the public equity is going to rip meaning if they were to pull the cord on uber eats, which is this they were funding, then this thing would be valued i think higher because people would say they're going to get to profitability faster. >> let's turn to another mover, shake shack plummeting after reporting results. let's get back to headquarters with more on the story. >> shake shack shares falling more than 15%. the company missing estimates for same-store sales by half a percent this quarter and lowering it's same stores sales guidance by a half a percent we spoke with nick and he had a lot of questions about the

quarter. he said they have been taking a percent and a half price increase, and long-term is there a profitability level that you really want to defend. profitability is declining more rapidly than the long-term guidance would imply lawyer ensilverman from credit suisse saying shack missed on same store sales and restaurant margins, shack lowered 19 guidance, which implies a pretty significant deceleration but q3 wasn't all bad. epa 6 cents above estimates. they raised revenue guidance for the full year and its forecast for licensed growth for this year still shares down more than 15% in afterhours trading. >> frank, thank you. >> i worked there, and it was sort of a double whammy. >> do you feel responsible >> no, i don't feel responsible. i actually have -- i've dined there and i will tell you that

the shakes are outstanding and that's, i guess, why the same is shake shack. so the move, i in my opinion thought the move from 105 in the fall down to 84 where we closed on friday was enough 19% short interest, we understood the valuation was ridiculous but i thought the quarter would give you enough where we would see a balance and these are levels we took off from over the summer wrong. now you have to find the next level. the next level is sort of 71 and go look and look you'll understand why but it's hard to make an impressive bull thesis. >> it's so wrong, there's no w it's so dumb, there's no b >> and what seems to be wrong in the after market is the fact that this is a high growth company. i don't care even as much about the gross margins, but when they're opening fewer stores, the same store sales weakness and miss to me is troubling.

i think they have a great brand. i think they have built a brand that isn't just because it's in high density high concentration places and i think it will be proven across the country. but for now this multiple cannot support that. >> let's get to groupon. >> it's a miss, that's why the stock is down as much as 8%. the ceo saying it continues to face challenges from traffic and international mike row economic continues and also referencing weak consumer sentiment in europe, intense competition, and a customer shift towards lower priced and lower margin offerings. overall, international gross profit in the third quarter for groupon decreasing 16% this is a company that went public back in 2011 at $20 on the nasdaq and you see it now trading just below $3 a share. low barriers to entry has really

hurt the company's market share and it's growth not just in north america, but overseas as well >> thank you what happens to a company like groupon, dan? >> they go to zero it's sad but we've seen this before and i think it's interesting that for years until we had the web dot 0 push and we saw facebook and twitter and some of them have done well. but most of them haven't done particularly well. the last couple of years we've been talking about this unicorn amazing sort of thing. and now we've spent a lot of time on this show every night talking about why do they act so poorly maybe it's just been a function of zero percent interest rates for too long you know what i mean and a lot of these things should never have been public. >> today's earnings from uber to shake shack, head on over to cnbc.com here's what else is coming up next >> announcer: scandals rocking

the stocks at both mcdonald's and under armour today we'll break down what's next for the companies and whether you should stay away plus, billionaire leon cooperman has a dire warning for the esenal heading into next year's pridti election. all that and more, when "fast money" returns to help you maintain balance and help keep you active and well-rested. because hey, tomorrow's coming up fast. nature's bounty. because you're better off healthy. nature's bounty. ♪ ♪ i've been a caregiver for 20 years. no two patients are the same. predicting the next step for them can be challenging. today we're using the ibm cloud to run new analytics tools that help us better predict and plan a patient's recovery. ♪ ♪ ultimately, it's helping thousands of patients

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welcome back to "fast money. it is the tale of two scandalous stocks today mcdonald's falling after the company announced its ceo was having a relationship with an employee and under armour cratering after the company revealed a federal investigation into its accounting practices. we begin with mcdonald's

ceo steve easter brook is out. the stock is coming off its worst month in a decade. is it time to get out? >> we went two years without missing and suddenly they report earnings and they missed this was a stock that was up in the 200s before the whole thing break. so the stock has been breaking down because fwas stretched and the competition levels are absolutely unbelievable. i would throw that out there for shake shack in terms of their earnings and i think mcdonald is finding themselves in a difficult spot and easterbrook obviously didn't do the right thing and he's gone. it's something they've got to fix. the competition levels, they've done everything that they intended to do five years ago and they've done a great job now what >> it sounds like you're questioning mcdonald's. >> absolutely. >> that's totally fair i guess i would argue that the competitive phase i thought was three years ago. they were certainly behind in

terms of the food quality and the healthfulness and technology i think we've moved all that stuff forward. the stock has been a tough ride. it's underperformed by almost 14% and i think that's a function of rotation overall if they just reported two weeks ago, i don't think the numbers were that bad. same store sales were 4.8, you wanted them to be around 5 the bottom line is this company is actually growing the top line i think this is a buy to pull back and it comes down to what is the multiple you want to pay. i think the entire space of fast food is under pressure. >> what is the multiple you want to pay they've got the chicken -- >> what is it now? >> 24 or something like that >> ebitda, i think it traded at 16 times which makes it almost a $200 stock. >> there's a bigger issue, because i've got to tell you when i saw the headline, it sounded really bad but the guy is divorced, he had a girlfriend, consensual it just seems really odd to me

that you would lose a guy who was the chairman of your board and the ceo. >> it's company policy. >> it's a violation. >> you can't make special rules for the ceo. >> the ceo cannot have a relationship with any employee. >> okay, is this a smoking gun >> guys, the stock doubled, they transformed and did the value stuff. they got better quality food, they did the tech and breakfast all day and you're going to throw them out because he had a girlfriend that worked at the company? it just sounds a little fishy to me. >> dan has got a smoking begun. >> i don't know. >> you know, it's funny, the filet at fish -- >> you're a big mcrib guy. >> i like a mcrib. >> i don't think it's all that expensive. you've seen this company trade more expensive. >> you're willing to pay that multiple >> i'm not saying this group, but two weeks ago, a month ago for sure, everyone was willing

to pay a higher multiple for the entire space look, mcdonald's has changed their tune and turned the company around this is a bad moment in a stock relative to the rest of the market which is rotating out nothing changed here overnight. >> let's get to under armour, the stock's worst day in two years after they confirmed a federal investigation into the company's accounting practices so what is next for the stock? and my question is can you believe this company, can you believe this board, when this investigation has been going on for two years and the company did not disclose anything until the wall street journal had an article about this. >> no, i don't think you can to all the points you just made. and we've been skeptical of the stock for quite some time for a myriad of reasons, least of which is valuation and they got too too many things. they weren't ready to be in.

women's shoes, they got over their skis at a certain point i think it's interesting, i just don't think it's here. and pete talks about this and i know across the desk we've said it lulu mem lululemon has done everything right. >> the losses they're getting in north america really hurt because that's two-thirds of what they take in. they've been trying to expand internationally, which is a smart move but to guy's move they've tried to go into so many categories and they're not really expert and i think that's hurting them. plus the valuation of the stock. even with the stock pulling back to where it is, you look at that with the growth they've got and try to measure it against nike and lulu, it's not the same. >> if there's some criminality here and he can get out of this contract, this brand -- they're not selling well, he broke his hand and he's not playing all season maybe he signs up with nike next year. >> that would be, by the way, melissa, stephen curry.

>> i know who he is. >> you always explain it >> thank you, guy. coming up, you heard all about leon cooperman's war of words with elizabeth warren but we'll tell you what he had to say about the markets. plus there's one company that just raked in the biggest cash pile ever. we'll tell you what it is. much more "fast money" coming up next ♪ ♪ ♪ ♪ ♪ ♪

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welcome back to "fast money," the major indices all hitting record highs bun billionaire investor says they could be in trouble in 2020 >> do i think the election is very important and if we tilt to the left, it's going to be a very big negative for the stock market, it will be a negative for multiples and profits. i think elizabeth warren is a hater, basically she wants to do something damage to business and damage to wealthy people she seems to resent wealthy people bernie sanders the same and i see it differently >> cooperman has been in a war of words with elizabeth warren

over her proposed wealth tax we did ask him about that and the overall political divide in america. at times cooperman got emotional, including during this exchange >> people cannot only see the emotion on your face, but hear it in your voice when you talk about this, lee. why? >> i care. that's it. >> and we urge you to take a look at the full interview with leoy cooperman on our website. let's get back to his take on the markets. he says a political left would be bad for stocks. so is the 2020 election the next big wild card for the markets? and we always preface these conversations saying we don't like to be a political show. we're not assessing the validity of the candidates' proposals, but simply how the market perceives them and therefore how the markets will move in

response to them tim, what do you think >> of course we break it down on a sector basis when we talk about health care or the regulatory overhang. there's no question, more regulation means lower multiples. and if you think about what happened to banks immediately after the elections, they were certainly one of the great beneficiaries of another only a change in the white house but a change really across all three of the legislative branches, including the judiciary. so you have a case where i don't think that stocks have begun to factor in any change from the status quo right now and that includes what may or may not be going on in washington there's no question this administration has been hands off. this administration has let companies do what they want to do, it's given companies back a lot more money in the form of a tax bill it's pushed for lower rates and pushed on the federal reserve. this is all market friendly even if somebody is paying in the end. so any change from that, of course stocks are going to suffer. >> i think that's key change in

stats quo. we had countless predictions in the last election of how if president trump got elected, the markets would go down precipitously. that would have marked a change from a democratic administration as opposed to a hillary clinton victory. and so it's that context, it's that sort of nobody is looking at the change in the environment at this point. >> well, i think what people are looking at, however, would be this this is a much different left if that's what we're going to call it than what we've had in the past because of that, that's where i think the fear side of it is whatever it might be, we all have been here and we've been trading for a long time, and i just look at it this way, medicmel, you have to adjust to the environment that you're in to tim's point, they've been hands off with the trump administration it will not be like that at all if it's elizabeth warren or biden or any of the other candidates that might win. >> it's a little too early to be handicapping this.

if you look at the last three years of the trump administration they've really got one legislative thing through and that was the tax cuts and that helped fuel a lot of the pro business sort of environment. at the end of the day if elizabeth warren was the candidate and it was elected, she's likely to have a divided congress and likely to get one legislative thing. and maybe that's a roll back of some of the taxes and that may not be the end of the world. i'm just saying. so i just think it's early to kind of speculate who the nominee is going to be and i think you just have to remember that she's trying to out-left everybody in this 20 candidate field. to win in the general she's going to have to come all the way back at least a little bit to the left. she gets one legislative thing if she wins. >> remember, president obama got elected in '08, january of '09 and the market bottomed out in march. and for the eight years he was there, it was some of the best market performance in history. >> up next from one billionaire

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welcome back to "fast money. some big news over the weekend for one stock that's been trailing the market. it's just up 7% this year compared to a 23% grain for the s&p. its ceo is 89 years old. there's no clear succession plan and the company just announced a record pile of cash. do you know what the stock is? berkshire hathaway it is sitting on a record $128 billion in cash, so lagging the markets with a boat load of cash how do you feel about berkshire hathaway >> we talk about the xlf all the time it's the largest holding and it's one of the reasons why that thing is performing the bay is market is, despite some of the biggest bank stocks doing well i think it's an interesting situation. this guy has done the best things during crises i think he wishes we would have some form of crises.

i think he probably has a harder time investing in big companies right now. we could use plenty of example, ibm over the last several years. >> does this sound like a company that you would invest in, what would you tell me >> it's interesting. if you didn't know the name of it -- >> if i told you underperforming the s&p 500, ceo is 89 years old, no clear succession plan. >> age notwithstanding, i would say probably not there are probably better places to be. but the bigger question and what we're going to delve into now is what does he see that's having him sit on a record amount of cash >> and not buying a lot of his own stock. that's the other thing what kind of signal does that -- the amount of stock that he's bought is less than the amount jamie diamond has bought in j.p. morgan in one quarter. >> so are you asking us how to spend the money? are we getting to the punch

line >> have i said to you how would you spend $128 billion have i said that i have not said that. >> i'm on hold so why isn't he buying back the companies that he owns >> does that send a signal to you? >> look, this is a man who at some point shows tremendous discipline and i think if he said i'm waiting to buy it at a certain level, that makes sense to me. i also think this is a guy, dan pointed out and i would emphasize, he does not like to overpay for anything and i think he's got a history of trying to buy things at cheap levels we'll see. >> i am not asking you what you would do with $128 billion in cash yet we want to put that pile of cash into context first that amount is bigger than the market cap of two teslas put together or the gdps of over two-thirds of the countries in the world and it is enough to buy one of the most expensive castles in the world, ireland's ashford castle of almost 119 times. that got us thinking, if you

each had $128 billion, what would you buy? i'm asking that question now what would you buy i'm going to start with guy. >> does the ashford castle come with simpson >> that's good i love it. >> that's one of guy's best jokes ever >> i'll answer the question. i would buy the following. i would buy biogen because the stock will double and it will probably cost you $65 billion-ish and i would buy newmont mining that will probably cost you $45, $ $50 billion and you'll have a little left over to go to the fair or something. >> can i say what i would do i would make a new media and services, a mobile services company. i might even call it the we company to compete with we chat, but this is for --

>> the we company is we work. >> i would buy twitter and snap and spotify and ea and i would think about what we chat does really well and put all those things together. those people over there, they care about the services and they don't really care about the hardware anymore, and i would kind of recruit a mark cuban to run the whole thing. >> how do all these things combine? >> combined with the premium, i think you get to 130 somebody has got to compete with the apples and the googles of the world. >> you jumped the gun. >> oh, snap. >>

think is going to be a major part of. and i would put $50 billion in the bank and i would be ready. >> up next, will results leave investors feeling broken hearted? we're digging in and jim is talking about what is really driving the markets he's got more and that coming up at the topf othe hour much more "fast money" still ahead. al we were behind schedule. but sophie's enthusiasm cannot be dampened. not even by a run-away donut. we powered through it in our toyota prius. because a star's got to shine, no matter what.

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welcome back to"fast money. wall street has been loving match group this year. shares are up nearly 70% in 2019, but there had be some heart break ahead. heading into earnings, dan nathan is over at the plaza to break it down. >> so they report tomorrow after the close. the implied move in the options markets almost 11% versus the 14.5% average over the last four quarters and wall street is loving this name it's up 66% on the year. but since they last reported their earnings, the stock is down 25% interesting action today there were sellers too close of

the november 85 calls when the stock was about 75.5 so closing out some prior bullish bets with the stock. let's go to the charts i suspect the stock is going to move 10% one way or the other. when you look at the one-year chart and you look at this support level, the stock is sitting on right here, obviously there's a little shortage. there's some bearish sentiment near-term, so this thing is going to go one way or the other. >> thanks, dan for more options action tune into our live show this idfray at 5:30. up next, final trades. >> announcer: options action is sponsored by think or swim by ameritrade ♪ ♪ ♪

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>> announcer: final trade is sponsored by interactive brokers. minimize your cost and maximize your return. welcome back to fast we've got a huge lineup coming your way tomorrow. you'll hear from all of these men tomorrow. >> 27.5 calls, giddy up. >> go to brazil where you actually have the benefit of

what i think are kmod ity. >> twitter, it might be time for a trade. >> if you go to brazil, in the energy world, slb has room to 39. >> what are you lkg abt?tainou >> i have no idea. that does it for us, we'll see you tomorrow "mad money" starts right now >> my mission is simple, to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now welcome to "mad money. welcome to cramerica other people want to make friends, i'm just trying to make you some money my job isn't just to entertain you but to educate and teach you. call me at 1-800-743-cnbc or tweet me @jimcramer. you know how the averages hit new all-time highs,