tv Fast Money CNBC November 18, 2019 5:00pm-6:00pm EST
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>> in term of economic growth forecasts for the fourth quarter how important are what these companies have to say about the holiday shopping season >> it's pretty important because you're seeing those estimates get down below 1%. the intra quarter estimates. it will matter a little bit. less so for the indexes but for sentiment. >> we're out of time >> "fast money" begins right now. live from the nasdaq market overlooking times square this is "fast money" we're join by head of technical and macro research tonight on fast president trump's former national economic adviser gary cohn joins us to talk about trump, taxes and block chain. snap ceo taking a jab at the competition in a sit down only on cnbc. who will come out on top in the social media wars? shares of teen retailers off
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fleet. abercrombie & fitch, american eagle and urban all dropping we're going shopping for opportunity. but first all quiet on the western front. market hit all him record high different story in china where doubts are growing that a trade deal will get done any time soon cnbc first broke this story. we go to beijing for the very latest >> reporter: it does appear as though there's growing pessimism within the government here that a deal can be reached this year. a government source familiar with the trade talks told me people here were troubled when president trump about a week ago had suggested that there was no agreement on phasing out tariffs. that's a very important point to beijing. he said the chinese side felt they had an agreement in principle. now there continues to be disagreement over some of the basic points in the deal
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for example, the u.s. has been pushing the chinese to have specific targets for agricultural purchase. he said the chinese have been resisting at least in part because they are getting push back from other trading partners and don't want to be seen as alienating them. also he said there's a bit, more of a debate now as to the political situation in the u.s. and president trump's political standing currently it's unclear because of his possible impeachment as well as an election just a year way. so he said that now the strategy is that the chinese want to continue to negotiate. they are watching and waiting to see what happens but a lot of the focus now is on supporting and prioritizing the domestic economy. in fact, today, we had some movement on that with the central bank the central bank had surprised the market by cutting its short term interest rate in four years. they expect it will continue to cut and likely cut its new
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benchmark rate on wednesday. this is the lpr the. separate to that, the u.s. announced it will renew its licenses for companies doing business with huawei, the embattled chinese tech giant those 90-day licenses are going to be granted and this is only days before the federal communications commission is expected to designate on friday whether or not it's going to call huawei and zte national security risks >> it's funny because prior to your reporting early this morning the move cutting the reverse repo rate was showing china's willingness to do a deal because they had to do something about their economy. now being seen as the reverse. it sounds as if the chinese believe they have the upper hand at this point with what's going on politically in the united states >> reporter: yeah. i think that as more time passes, there is a feeling that time is on china's side.
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that from a political standpoint president trump is in more precarious situation than president xi jinping even though you could argue that president xi jinping does have a lot of pressure himself domestically as well as from hong kong it doesn't look like there's enough factions who have any forereally unseat president xi in anyway. president trump, those in a much different political situation, and that's actually a really important part of the calculation that even though china does see its economy is slowing down, even though the manufacturing sector is suffering, it's still, as we've seen for over a year willing to take on that type of pressure for the manufacturing sector if it feels that some of the longer term issues such as attempting to change its economy are going to be threatened >> thank you so the question here is beijing
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so pessimistic about getting a deal done why is wall street still sitting at all time highs? >> the simple answer, they believe either correctly or incorrectly that somehow our federal reserve and central banks around the world have our back i think the answer is that simple i don't believe that i believe that's what's going on if you told me last night these headlines would come out and where would the s&p come out i would be do u7b handles. here we are the s&p is unchanged. it's remarkable to me the resiliency of this market. i said it for a long time i don't think there's usa-china deal what i got incorrect the market doesn't seem to care i thought for sure at a certain point the market would be negative >> market doesn't care it's about positioning people have to get long going into year end. they avoided the market. that hasn't been the trade right now what could stop it the market it's not trade it's the fed telling you they
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are soft they are easy. and they are not raising they don't have to cut they don't have to raise >> i do think that you're right. i think the fed is still the largest player in the markets right now. i think what the markets have done in the last three weeks to a month for whatever reason maybe a slow stabilization, maybe this is a market that gave you great payroll numbers. goldman said the economy will be better than people thought jpmorgan comes on this show and talks about how they see 3 q as a trough and you're seeing acceleration that delta of growth even if it's off of a nothing base is enough for a market with people under positioned with a fed saying we may not be cutting rates any time soon but not going to hike. that's a great recipe. market has gone up about as steep as it has during any period in the trump presidency or whatever is happening in washington is happening. the market doesn't care. >> to that point this move
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towards global cyclicality began in august when the trade looked at its worse i don't think there's a lot to derail the stocks. look at how stocks performed today. there were leadership stocks market was focused on something else whether it's fed odds or a hike pboc, or china's pmi, we saw it in hong kong and german david axelrod -- dax this is not about whether things are getting better or bad. the action of the stocks says global growth is getting better. >> global pmi showing signs of an inflection point. people are getting more positive about stocks around the world. isn't that predicated on the notion that trade war tensions are getting better if they don't then we have to
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ratchet down our expectations for growth around the world not just the united states >> that's right. trade is certainly very important. if i read goldman's note correctly it was on the assumption there's no incremental tariffs higher from here we can go sideways and where the status quo is, okay. there's some presumption out there there won't be roll back but if we hold ground here and don't get worse we'll be okay. >> when you look around the world the areas that are move china sensitive are 2k40u7b% from where they were in late '17. you priced in a lot of bad news particularly in germany and hong kong, particularly with macaw. it's a question of whether thing are getting better or worse and status quo is not worse. >> there's a giant poker game going on here. china lowering rates are gearing up for not making a deal then they say is president trump really going pull the trigger on tariffs two weeks before christmas.
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right? will he make that bet and potentially -- >> what do you think >> i think he would pull the trigger. i think he would pull the trigger because there's enough time until the november election in his mind he'll take the month of pain to make the point. >> he likes to play with the s&p points he feels he's got a bunch of them i don't buy into that, that the chinese are waiting for another democrat to take the oval office they are worse than trump. >> they are playing the game that president trump is going start get a little bit desperate before the election but want to secure a win -- >> as long as the market -- i hear that point. i hear that. but the market keeps going up to all of our point i think that it's more -- it's about the fed and trade and right now it's about easy money and both countries are printing. >> our next guest say trade tensions could spark the next ugly selloff
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julian, welcome as always. >> great to be here. >> so you think will happen with these talks and we'll see a pull gak. >> we go to this december 15th tariff increment if there is a thought and we're thinking that this game of poker might be such that the market will bleed incrementally more the tariffs go on december 15th we're over bought enough to cause a pull back. as a long term investor you don't -- it's noise. you don't want to play it. if you have profits that you feel you need to lock in before year end, you know, index option protection is very cheap but bigger picture, we think that if you think about next year, economic consensus growth is 1.7%. that's not going to play well to the base the president needs to create upside risk to that number there aren't that many ways of doing it at this point
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you know, despite the fact that there was a very cordial meeting today with chairman powell, the fed is on hold here, in our view, and so it really comes back to getting something done with china >> i don't know if you can have a meeting that you call cordial after you call the guy a bone head it's the time of year where strategists like yourself put together 2020 forecasts. when you're thinking about 2020 and year end targets are you talking about the political factor, you think howbadly doe trump want to win and therefore secure a trade deal justin nick of time or sometime during 2020 and that lift the markets higher >> that's a large part of it in our work we look at presidential election years and what we find actually is quite counter intuitive. they tend to be less volative.
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that lower volatility comes in the first half of the year which to us could mean that as people see that the fed is done, and that the economic indicators globally are starting to bottom, you could be seeing a move out of bonds into stocks and for us that tends, to you know we're looking for that we had ten years worth of a bull market without enthusiasm and on our year end estimate of 179 for 2020 a median multiple over the last 30 years gets you to 3450 >> where is the ten year yield where is the nonsweet spot for the ten year yield is it north of 2.25% somewhere below 1.45 where do things get pear shaped? >> at this point the market, the psychology has changed the yield curve is steep and you come off of zero if you start heading back down below 1.50 in the ten year yield
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the stock market will run into be trouble conversely we think there's a lot of upside tohow much the ten year yield can go before we run into trouble will we go 3% like last year and the year before. not likely 2.5 is where there's going be more discomfort. >> by the way, how big of a pull back if we get those december 15th tariffs >> you could test the 200 day moving average to 2900 our best case sue pull back to where our year end price target is 3,000 >> julian great to see you most interesting thing i think for folks expecting the market -- if we get julian's scenario where deck 15 doesn't bring in new tariffs and you say next year is sideways, lower first half, i think -- chris talks about global markets i would just add what's gone on in the resources trade i think the most interesting trade is really not just energy but steel companies.
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real industrial companies. rest of the world trade that has been a big under performer germany has outperformed the s&p in local currency terms. if you think the dollar will get some ground this is a powerful trade. >> dollar was down today i get the idea that the market is stretched here. i get the idea the market is overbought these have been ranges for two years. stock just broke out around the world. our mistake is overplaying your hand >> i heard julian say earnings growth in 2020 and i heard him say 3450 s&p sounds bullish >> snap, pop says the company's ceo takes new aim at the competition. we're moments away from an exclusive interview with gary cohn we'll hear about his adventure and his take on the economy heading in to 2020 much more "fast money" right
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in an exclusive interview with cnbc's julia boorstein earlier today. >> they could limit the reach of other, you know, services on their platform preventing people from using a snap code in their profile services that have, you know, as broad as facebook are held to a different standard, obviously. i think we'll sort of see what happens over time. >> did you buy this name >> i bought it slightly over $14. i took some pain to the down side now it's trading higher. i think evan has thread the needle on political ads. twitter got too hot. facebook a little too cold >> by banning and then -- >> exactly you have snapchat is going to fact check the market wants to hear ad growth growing revenue growth that has been
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happening. so he's coming out with new products i think it will shoot for that $17 ipo price. >> i thought it was admirable he said he wanted to keep political ads on snap because a lot of people are first time voters when i heard they are going fact check first thing i thought of was expensive. costs are going to go up because of that. >> but it's about establishing or re-establishing or perpetuating credibility for a company that showed profitability for the first time maybe they are in a better position to do that. they are finally profitable. i'm not jumping crazy on the band wagon i think the trend in this company, is this the inflection point? certainly some people out there think so >> atlantis? >> stock went five to 14 what's in the pricing. would we rather buy something like a facebook who has spent the last 12 months in a range. maybe that's better? >> that's a would you rather
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>> i'll play the game. >> what are tim's favorite four letters when we talk about companies like this? rpoo look at the metrics. active users up. margins up 27% year-over-year. have some pretty staggering growth although the stock hasn't grown, there was a $20 price target i don't think that's unreasonable you can go higher from here. >> for more from our exclusive interview with snap ceo head to cn cnbc.com >> announcer: gary cohn has a new project. we find out what it's all about and get his take on the state of the 2020 election. plus, ford taking on tesla with
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its new electric suv but will it be enough to stop tesla's recent run or will short bets on elon musk start to payoff again all that and more when "fast all that and more when "fast money" returns fidelity. all that and more when "fast money" returns but in my mind i'm still 25. that's why i take osteo bi-flex, to keep me moving the way i was made to.. it nourishes and strengthens my joints for the long term. osteo bi-flex - now in triple strength plus magnesium.
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i'm sure there's a number of companies that wanted you as an adviser and investor >> we should have hector talk about what we've been able to do when i was in the private-sector, we always worried about secure data, secure communications and securing our clients when i went to the public sector same issue we had to worry about secure data, secure communications. what i found out is the public sector didn't have a better solution than the private-sector when i threat white house one of the challenges i set out to see if i can be part of the solution was in finding a solution for secure communication i just happen to luckily find hector who is working on the problem and hector has created a secure phone and we've been work on that for the last two years >> hector there's renewed concern about cyber security hacks as well as data privacy. your goal is to create the world's most smartest and secure phone. seems like a great idea at a
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time when we're concerned about security but how exactly are you doing it >> many companies attempted to do that in the last few years. the operating system they were using is not secure. ios operating system and an dried are not secure we took the operating system from a company in california that for 20 years has been the operating system running the nuclear bomber wing of the united states, the b-1, b 2, all our nuclear missile and guidance, all our nuclear systems. we took the integrity operating system, put it inside a brand-new phone we designed from most of the being folks that worked for motorola and work for us if you have a phone, i have a phone, that call automatically is secure. nobody can intercept that call or the text or the email if i have an iphone and you call me with that phone that call will not be secure 20 years in operation never had a single hack because that's how
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our nuclear weapons have been protect and that's the type of capability we have created >> gary, you mentioned this at the top. what was it about your experience in the white house that sparked your interest in sparking are you going to pitch this phone to president trump >> i've been involved in security and secure data my whole life and make sure you understand who you're protecting it from. whether you're involved with a merger transaction u-got material nonpublic data, who gets to see it in your organization, who doesn't. you move to the white house you have a whole different level of security concerns. so it was one of these areas where i always thought there was a better solution and when i got to the government there wasn't a better solution and i saw what we had to do the we went to foreign countries with phones. how we had to change phones out and what the administration did with the phones and they couldn't make them any more secure than the private-sector could. so i said to myself there has to be a better solution that's how i ended up getting
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involved with hector and the economic part about it we found out inside our secure environment we have a wallet which we weren't planning on developing a wallet but we ended up with a secure wallet, secure enough hector and his team they were able to secure a million dollars insurance per wallet peruser which is impressive. >> certainly a growing area, digital payments let me send it back to melissa >> gary, great to have you on the show you've been out of the white house for some time. i want to ask you about the tax cuts and what you make of the success of the tax cuts, whether or not you think they were, in fact, successful fedex got some blow back from the "new york times" for saving a lot of money because of the corporate tax rate going down. they paid zero taxes but didn't spend it on capital expenditures how would you measure the success of the corporate tax cuts >> let me leave "new york times"
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and everyone out of this discussion and talk about the tax cuts in its entirety if you look at tax collection, 2015, 2016, 2017, 2018 believe it or not overall tax receipts went up each of those years. each of those years we had higher and higher tax receipts yes corporate tax collection went down by a small bit of overall revenue but personal income tax went up that's exactly what we would have modeled we would have modeled the corporate taxes would go down with rate going down substantially and income tax would gone up because we modeled there would be growth in the economy. we saw that. we saw that by the unemployment rate coming down and wage growth exactly what we thought was going to happen when we projected the tax cuts is happening. and we see that. and so i am very pleased with what's happening with the tax cuts right now and what they are doing for the economy. look, that is all happening in spite of the fact that we have
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tariffs on steel and aluminum and the other major inputs that you would need if you were going to go out and do a big cap x expansion and the fact our trade is down substantially with china. those two things do impact the amount of capital expenditure you have and then put on top of that the newest ingredient is what is the geopolitical climate going to look like going forward. there are some candidates right now that are running with an agenda with an awful lot of government reform in the corporate world and if you were thinking of doing a 10, 20, 30, 40 billion dollar cap x expansion in the united states i'm not sure you would be wanting to do that capital expansion until you understood what the cost of that was going to be in terms of employees, in terms of health care costs, in terms of profitability, surtax cost, understanding all the different plans and what may come in to legislation or what
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won't. >> on that political note, gary, we had a lot of major investors make predictions as to how much the market would go down under elizabeth warren or bernie sanders. care to ventura guess? i mean lee cooperman in there down 20%, 25%. what do you think? >> look, it's not my job i'm not an equity strategist i don't run equity money for a living it's not what i do for a living. right now i'm spending my time on figure out how to solve the hackability of digital communications and that's a lot more fun >> that's a good answer, gary, but in term of running a business, and seeing what the business environment might be, more conducive to business under a warren or bernie sanders presidency or another trump presidency >> well you know the answer. trump presidency is, obviously, for conducive to business. you know, under the trump
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presidency and you heard me talk about this, we've made the u.s. much more competitive on a corporate tax standpoint you know, our tax rate is still very competitive we're not the lowest in the world. in fact, india cut their corporate tax rate to 15%. look what we've done in the regulatory standards in the united states. we made our regulations smart. we didn't deregulate to say we deregulate we deregulated to make ourselves smart we're still highly regulated the business community is thriving because of that you see that in the jobs data, jobs number and unemployment report we see wage growth over 3% unemployment around 50 year loss authors good numbers authors telling you corporate america is investing in the u.s. economy. >> some would argue the tariffs and the uncertainty of the tariffs are basically undoing all that good that president trump has done for businesses. would you agree with that? >> you know i'm not in favor of
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tariffs. i understand and i think most of you understand that our economy is 80% service driven. that's both on the gdp side as well as the jobs side. the extent we can make imports more affordable, cheaper in the united states it means u.s. consumers will have more money to spend on domestically produced services and that's good for our economy so i am not in favor of tariffs. i believe tariffs are hurting the corporate environment and hurting disposable income and as you know and i know disposable income is what's driving the u.s. economy >> gary you read people as well as anybody i ever met. you were next to the president for quite some time. in your opinion, president trump moved the tariffs from august until december 15th. if there's no deal will he blink or do you think he'll go through with the tariffs on the 15th of december >> hey, guy, look i think if there's no deal he'll go through with them on december 15th he's given himself time. he's got them through the other
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side of the holiday season and december 15th is a long time from now in terms of tariffs negotiations there's a lot of other things that have the to happen in the united states including debt ceiling resolution i think he thinks that's a forges function and that if he keeps blinking, you know, he lose's credibility in the chinese eyes >> all right >> do you think he'll go forward with a phase one deal? i was going to follow up do you think the president will follow through with a phase one deal that satisfies the chinese but doesn't address southeast core issues with the chinese practices? >> i hope the president follows through with the phase one deal. it's important for our farmers our farmers deserve to be growing crops and deserve to be exporting. it's important for our u.s. economy. we should not be in this position right now a phase one deal is important to our u.s. economy at a minimum we should go
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through there. >> gary cohn and hector hoyos thank you for joining us don't forget another big interview with goldman sachs senior chairman. what do you make of mr. cohn's comments >> getting through phase one i'm not sure we'll define it as a victory. there are folks twin white house that believe we're not -- we're giving in too much and not getting enough as it relates to tax policy earnings you know, if we have a deficit that's $4 trillion and that's something that historically especially for this type of administration, i do mean a fiscally conscious republican administration this would have been unheard of so i think the outlook for getting through this period, it sounds, though, that the goldman line not his line what we talked about earlier today is that the economy is relative to this
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trade war starting to get some acceleration and if you get that this service based economy is in good shape >> i brought up the tariffs and whether they are undoing the tax cuts there was an op-ed in fortune basically the first year and a half of the trump presidency was pro business with every single tariff that's gone into effect has worn away all that good that was done for businesses >> i the actually look at at any time opposite. i think he did the tax cuts for the corporations to allow them to prepare for the environment trained war. i think that's the key by the way, the reason why we had a run in the market was deregulation, tax cuts that's it. >> what's interesting, the view i have is also the tax cuts basically threw fire on an economy that was starting to re-accelerate and brought the fed in to play a bigger role than we wanted them to play. the fed which the administration
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has been critical of is a function of what they did. i'm not sure we need the corporate tax cuts to stimulate the economy. at the time the economy was giving you what you wanted >> what's notable the industrial economy the stocks that got the benefit of the tax cuts are just beginning to turn up here. the idea that database >> u.s. steel up 65% >> so the idea this is a one time thing is a mistake. the industrial stocks are finally starting to reflect that >> coming up ford seateding up for a big electric vehicle battle with tesla. we'll tell you how to trade the space. retailers no long too cool for school what it means for this gupro much more "fast money" right after this ♪
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by the way, she's the it wasnext mozart.g day. as usual 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. it's unbelievable what you can do in the prius. toyota let's go places.
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welcome back to "fast money" ford motor officially breaking into the electric vehicle space with this new mustang mock e >> reporter: a lot of chatter today and pardon the pun but the chat certificate whether or not the mustang mock e has the horse to take on tesla and win here's what you need to keep in mind when you look at the mock e. first of all the range, up to
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300 miles. ten minute quick charge 47 miles. base price is expected to be somewhere around $44,000 when it comes to market late next year they know that there's a lot of competition coming that's why ford needs the mock toerch successful. by 2025 more than 100 electric vehicles will be on sale what's coming next year. folks at ford will be paying attention to the tesla model y it's expected to come out late next year around the same time as mock e and going after the same market. going after the person who want as crossover or small suv in that 35 to $60,000 price range that's where ford believers it can beat tesla at its own game the race between electric vehicles that's really going heat up late next year guys, back to you. >> secret ingredient is that ford is making these cars in mexico so the price will be cheaper, right and so therefore more competitive with tesla.
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>> well, yeah. we the talked with the ceo of ford and he said that's way we make this vehicle profitable they plan on it being profitable after you strip out the costs because in part it will be built in mexico and we asked them the president would say why are you building down there? we'll balled lot in the u.s. the trump administration understands our position we have to use all of our facilities not just those in the u.s. >> phil, thank you is this going to make ford more competitive their game plan is to electrify their vehicle. >> the fact they are using this to me -- i'm sure they had many meetings about this, a lot of focus groups i think that's a mistake good for ford.
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if they thought they would bounce in the stock it didn't happen and hasn't happened in the last eight years they may be more competitive, they've been behind the eight ball for the last decade i don't know what makes the stock go hire. the car might be fantastic i don't think the stock is >> what's wrong with the stock >> we had a rally in automobiles in the last couple of months ford doesn't work, gm doesn't work, clearly saying there's still something wrong with this picture. if you play autos buy toyota don't buy ford >> when you look at the vehicle, obviously it's a copycat of tesla's vehicle. nothing that's stunning that says okay i need to have that over a tesla vehicle tesla still made it cool >> you don't think it looks like a mustang? >> it's cool i think the car looks nice but the model x is what everyone is examination. this is the price point of the model 3. but i until think tesla -- way
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ahead of this. i feel they are way behind even gm. >> speak of electric vehicles, tesla has been on a reason tear. the you're a loyal viewer of the show you know tim seymour has been short the stock how is he navigating this trade time to go trade school. >> first i want to talk a little bit about how you should think about any short then specifically how i've been thinking about tesla ultimately you have the case where timing is essential. as we get into this i'll show you where on the chart i thought tesla, if you look at a five year chart didn't do much. it wasn't until really january-february of twine. remember size your position. this very important. so how am i going to put the short on for many people short is more a hedge than a tactical short. a tactical short should be 2% to 3% position, maybe 4% position patriots hedge it's a totally different ball game.
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finally define your risk to me it's very important to understand how i'm getting my short exposure in the case of tesla a majority of this position was put on through puts where i thought i could be much more tactical. more importantly define my risk for a stock that i think really is a very difficult one to bet based on fundamentals and frankly we've seen the irrationality of the stock on the way up and down. we had a dynamic wherefore the most part you had this move. you've been watching this show i've been negative on tesla for a long time. i didn't feel a need to get in the market and short it. i told you the valuation was off. i didn't understand why people weren't talking about competition like ford and you had the dynamic. you would get i think some re-rating in the share here's write decided to get involved trained and where i felt it was time to actually be tactical and a thesis. the thesis i had is we were starting to see destruction, some fallout, some the flaws in
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the balance sheet and as you remember somewhere around here when we got q4 earnings of 2018 is when the stock really started to come under some pressure. for me i started somewhere around march put some puts on and i took a small position. as we got into april you saw an acceleration of that as we got into first quarter earnings you got a dynamic where people were really able to get in this. with puts i think you have to trade them very aggressively you have to trade monthly puts and trade them actively. as we got into april and may it was a case where at 175 i thought tesla was a company that was actually maybe going to wake up one day and tell you they were restruck the you're thing around here i bought 175 puts and rolled them down to 125 as they got the money ultimately you have a case here where i think it was a company that somewhere around here i thought maybe was going to break and i wanted to be aggressive. cash short is something i still
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hold if you look at the average position, ultimately it gets to a place where you got, really, a 10% to 15% loss in the underlying but that's a function of mostly playing it tactically through puts when i look at tesla and this run for the last three months, ultimately where do i want to be 370 is the level i think i have to be watching and where i would be blowing out the short i don't think we'll get to 370 the until we hear from the company on q3 and q2 where is profitability where is the company in term of the balance sheet? that last quarter showed us a lot of opportunity at 370 that's why i think it's for say cash position which is about one-third of the overall time to go >> it's very important the to underscore the point you can be short the stock and depending on how you do it, just because a stock is up 40% in the past month or so that doesn't mean that's how much you're down on this trade >> yeah. so as i said, i was pushing the stock somewhere around 185, 200
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when i thought i had momentum behind me and pushing it through puts the cash position that i held is one that, to me, also allowed me reinforcement of my underlying i think if you look at my average position i'm around 310, 315 overall in my exposure in the stock in cash and puts at 375 if we get different news from the company i don't need to stick around and wait. i still think it's got enormous fundamental issues but it's a case where you don't need to stick around and wait for that >> higher or lower >> i thought lower as well i'm in tim's camp. i think your catalyst could come in the form of november 21st and roll out the cyber truck we'll see. that's the level we saw 375ish is the level we saw in june of 2017 i'm with tim obviously, the cash flow position has improved which is why the stock has gone up $100
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in a month and a half, two months >> quickly >> higher. don't marry shorts and watch the debt the debt in tesla has improved >> coming up, one group of retailers are falling out of fashion. trip stocks on a tear. betting one is about to eak br out after fresh highs. don't go anywhere, much more "fast money" after this. ♪ not much, how about you? >>are you answering my text in person? i am...yeah. >>lol. come on in. this is tech that helps you be there. the nissan altima. now offering the most tech-advanced engine in its class.
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airbnb see you back here. "mad money" with jim cramer 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 hey, i'm cramer. welcome to "mad money. welcome to cramerica and welcome to the west coast of cramerica. i'm coming to you from san francisco, the heart of the tech revolution and home of some moneymaking opportunities. other people want to make
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