- i knew snhu was the place for me when i saw how affordable it was. i ran to my husband with my computer and i said, "look, we can do this." - [narrator] take advantage of some of the lowest online tuition rates in the nation. find your degree at snhu.edu. ♪ welcome to "power lunch. i'm morgan brennan josh brown will join us for the hour in just a minute. the house is debating the second impeachment of president trump, after the riots on the capitol last week. that's happening right now,

ahead of the historic vote, we are following that story plus affirm making is markets debut, doubling its $49 ipo price already. we will tell you why investors are flocking to the name, or affirming it. and wes edens just made a $5 million bet on natural gas and is winning big off the energy boom first, we start with a developing story in d.c., as that impeachment debate is under way. for that we go to ylan mui. >> reporter: now we have a new statement from president trump, in which he urging there should be no more violence, no law breaking and no vandalism of any kind in light of reports there could be future protests he said that's not what i stand for and not what america stands for. he said i call on all americans to help ease tension and calm tempers. he's issues the same as the how

is taking the historic step to vote to impeach the president for a second time, but we now know the senate will not hold that trial until after president trump has left the office t senator mcconnell said the senate will not go back into session until january 19th so what we're seeing from the president and from republicans today is how they struggle to both condemn the violent protests that happened last week and what the president's role in that might be, while trying to avoid what they believe is a divisive impeachment trial democrats argue that this is urgent, given the warnings of violence in the future days. >> let's come together and impeach the president for this high courtroom against the republic we don't have a minute to spare. he's a clear and present dangers to the people.

>> reporter: just about one hour of debate on the floor left, guys after that, the white house will then vote to impeach the president for the second time on insurrection >> thank you, ylan mui, for bringing us that markets are a teflon market. they're really shrugging this off. in american history we've seen three presidents impeached by the congress this is now the first president in history to potentially get impeached by the congress a second time, yet markets -- >> the greatest impeachments, these two in particular, the best of all time look -- >> i don't even know how to respond to that. >> i think you are seeing a giveback through the reflation trade, you're seeing industrials take a break financials are red today, and you have some leadership from utilities. so i think markets are maybe a bit reacting, but not in a

pronounced fashion i think most of us watching this instead of that realize we already know the outcome what this is about is whether or not the republicans want to purge trumpism from the party. that's probably a long shot at this point that's the only reason to carry out the impeachment, and investors understand this is political and they're not very much focused on it. we have other breaking news. the federal reserve releasing the first beige book of 2021 steve liesman has the details. >> morgan, thanks very much. the beige book, i don't know if that's a downgrade from the prior one, which was moderate or modestly they say conditions remain varied two districts noted a decline,

two others voted no declines -- it and increasing containment measures most -- from the shift from in-person to online sales during the holiday season auto sales weakened somewhat energy sector, though, had expanded for the first time since the pandemic manufacturing activity continued to recover the data has been pretty good. i'll read this directly -- though the prospect of the covid vaccine has bolsters business optimism, thus temp irby the recent surge in the virus. a majority of districts reporting that employment rose, but at a lower pace. a growing number of districts reported a drop in employment levels there were hiring difficulties because of, of course, the

resurgence of the virus. finally on prices, i will quote here from the beige book -- almost all districts saw modest price increases, with growth in input prices due to outpace that of finished goods. prices were highest in construction and building materials, steel products, and you're familiar with, morningen, shipping services. >> it's interesting to hear that and certainly keeping an eye on the agricultural prices today, too, given some of the spikes we are seeing on that froent as well, but in terms of that inflation discussion more broadly, it's been a big week in general for fed-speak. we've been getting comments about inflation or uptick of inflation that's expected. fed chair powell is expected to talk tomorrow. what is the takeaway when you look at the beige book today and some of the comments we have gotten over the last week-plus in terms of that picture and how

it's playing out in the market and this bigger debate >> yeah, we're getting a lot of fed-speak, nowal of that all that definitive, i've got to tell you, but a, i think they're looking at it they expect what they saw today, a rise in energy prices that's going to pass its way through the system they're not going to be suede by policy, when it comes to what i believe is temporary increases in prices. you have a whole bunch of sort of things that are not in the right place at the moment. you have people stuck in their homes, and at the same time service prices, service inflation is about the lowest you have ever seen it's usually 3%, 4%, now it's like 1.5%. what people think will happen, morgan, is you're going to have this with a vaccine, a return to more normal economic activity. people will leave their homes, and they'll go out and do the things they had been doing you could have a rebound in

service prices even out. the other thing that i think you know a bit about is supply is not in the right place the world trade is not where it should be, and so there's increasing prices there. as supply returns to norm 58, demand returns to normal, it will take some time. there will be some rise in prices whether or not that's sustained inflation over time, i think the fed is more skeptical. that. >> i continue to think the right playbook all along to be thinking about this particular recession and recovery remains the fact this is really a natural disaster, and the recovery pertain, no one alive has really experienced the recession. based on natural disaster, you have to go back to 1906, the earthquake in april, which doesn't work its was through the system until '07 when you finally had a recession and the stock market panicked. if you look at the recovery period from that, this looks similar bid almost every metric, and we're 110 years after the

fact so i think if you stay the course on that frame of thinking, you should be okay >> that's a good way to think about it, josh >> i like the history lesson steve, i like that you know me so well. steve liesman, thank you for breaking down those headlines. new fort tres acquiring two companies today. this is boosting new fortress' energy stock it's taking a breathe you now, but get this, stocks up almost 300% over the past 12 months i'm joined by power player wes edens, also the cooriginal of the bucks. wes, thanks for being with us today. >> thanks for having me. good to see you. >> i want to get to the details of this energy deal today, but first, more broadly, off the

comments we just got from steve liesman add the beige book, physically some positive notes in there about the energy sector more broadly we have seen energy at large rallies, whether it's alternative tech, alternative energy that's just been so hot among investors, or whether it's been more of the crude complex and the thoughtful fuels i want to get your thoughts on what we have seen within the space and how it speaks to expectations around economic recovery this year >> yeah, i think there's been so much of a pullback with covid and all that's happened in the past nine months, that a lot of energy taken out of the market, and really as we're in the dark days of the virus right now, but i think recovery could be substantial and people could be surprised on the upside as to what the energy uptake is. i think it's a pretty good barometer of what we expect to

see. 78. >> let's talk about the details of this deal that you announced for new fortress, you're acquire hygo energy and golar lp, it's a micro cap. you're also acquiring power purchase agreements in brazil. >> yeah. >> what does it do for the company in terms of expansion of the footprint and trajectory for growth >> it's a transformative deal for us, morgan we started this business six years ago with a miss to bring cleaner, cheaper power to e emerging markets around the world. we've build five terminals so far, but we look at the world and the countries that can benefit moth from this there's a handful that stand out and at the top of the list is brazil it's a couple hundred million people, big amount of liquid fuels get burned there natural gas is obviously much cheaper and cleaner alternative, so it was a real target for

ours, and the one power purchase agreement, we did testify independent of these transactions, but it just happened to be at the same time. we had the opportunity to buy the others in a swoop, and we think it will pay off for us. >> you see natural gas as this bridge fuel to a more sustainable energy source or energy sources in the future, certainly the companies have been making investments on the hydroengine side, hydrogen conversion, hydrogen power. >> yeah. >> certainly a big topic of discussion on the investor side, particularly i think from a fuel cell and ev standpoint, but overall, what do you see as, i guess, the road map over the coming years for this evolution and for this, i guess, advent of cleaner energy

>> yeah, energy transition is the buzzword, and i think it's going to be the case when you look at what's happened on renewable power in the world, the price has come down precipitously, and everyone wants fossil he free power, but neither of those is dispatchable battery technology is still a long ways from being commercially viable. hydrogen is the most prevalent element of the universe, it's everywhere, so it's really not a question of if it's a good fuel source, it's just a question of cost what you saw happen in renewables, i think will happen in hydrogen production, and as prices come down, i any you'll see is more as a replacement fuel, or natural gas et cetera we think it's a bridge to courtier fossil fuels. it's much cleaner than the others and the next phase will definitely be hydrogen

so we're all in on, number one, democrat advertising people's access to power around the world, and number two, making it fossil free. >> whether it's thate eand the private rail, and at the las vegas corridor, what are your expectations will we see an infrastructure deal with the biden administration >> i think we will, you know, and i think -- the florida train, first train built in this country in 125 years, we just passed the 50% mark on the construction at the end of 2022, i guess, that train will turn on. we recently announced we'll go right into downtown disney vegas to l.a., we expect to break ground this year, so another big one, and trying to

make all of this -- i think the biden administration will likely be supportive of initiatives i they will they'll be all in for clean energy i expect to see a lot of support from the government. frankly it's something that's important and necessary, and i'm really excited to hear what they have to say about it. >> the last time you and i spoke was almost a year ago, when covid was just becoming a story, and really at the time still a china story. >> yeah. >> you mentioned you saw that as the covid outbreak there is a situation that could potentially unsettle markets at the time, and was worrying i wonder, a year out from that now, with markets near record highs, what you think about the investment landscape right now and where we are seeing things like equities trades >> yeah, i think none of us really understood how bad things

would be it turned out to be much worse, but i think people have proven to be resilient, have adapted quickly. i think we're close to the end of it, in the sense we get the vaccines properly distributed, that will break the back of this, and the pent-up demand could be really tremendous and stimulative. as people get around and travel again, go to bars and restaurants, recreate, i think we could be in in for growth. >> what does that mean for your focus? >> i'm fork cussfocused on ener and half the money that came into the u6 market last year, that's gone from spacs to what is now a big, big part of the

capital formation. i think you need to be focused on the viability of the companies, but no doubt there's a tremendous amount of capital on the sidelines that's interested in finding things to invest in that makes sense, our products and energy sector stuff will go through a huge resurgence i think this whole hydrogen nose and what will happen in the next five to ten years will be breathtaking and trillions of dollars in aid through this energy transition and i want to be in the middle of it a, it's an economic result for you, but b, it's part of us making the planet a better place. >> a year ago this week, i was -- at a game watching your bucks demolish my knicks what are you hearing about fans in the seats what are your thoughts there

>> it's hard to predict it will happen soon, but again, i think the vaccine coming out could change things pretty quickly we certainly wants fans in the seat and, you know, maybe if you take a vaccine or if you have taken a negative test, you can get into arenas, but it's something we want in a big way we want that, our players want that, the league wants that, so i'm pretty hopeful by the time, if it's not march, april, may, june, you'll see real fans back in sports stadiums. >> let's hope. >> certainty no shortage of things keeping you busy. i see some of those tequila bottles behind you. >> a little product placement there. have you tried it?

>> i have not. >> i'llhave to sends you some. you'll like it for sure. covid has been very good to the alcohol industry, it turns out. >> wes edens, thank you so much. great to see you. >> thanks, guys. appreciate it. coming up, a firm's big debut, the stock doubling as the company rides the fin tech wave. we have the latest details look at that chart, up 102%. bitcoin millionaires are getting locked out of their potential fortunes that's a crazy story later this hour stay tuned well have you tried thinkorswim? this is totally customizable, so you focus only on what you want. okay, it's got screeners and watchlists. and you can even see how your predictions might affect the value of the stocks you're interested in. now this is what i'm talking about. yeah, it'll free up more time for your...

uh, true crime shows? british baking competitions. hm. didn't peg you for a crumpet guy. focus on what matters to you with thinkorswim. ♪♪

[ sigh ] not gonna happen. that's it. i'm calling kohler about their walk-in bath. my name is ken. how may i help you? hi, i'm calling about kohler's walk-in bath. excellent! happy to help. huh? hold one moment please... [ finger snaps ] hmm. ♪ ♪ the kohler walk-in bath features an extra-wide opening and a low step-in at three inches, which is 25 to 60% lower than some leading competitors. the bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. kohler is an expert in bathing, so you can count on a deep soaking experience. are you seeing this? the kohler walk-in bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassage. everything is installed in as little as a day by a kohler-certified installer. and it's made by kohler- america's leading plumbing brand. we need this bath. yes. yes you do. a kohler walk-in bath provides

independence with peace of mind. call for $1,500 off your kohler walk-in bath. visit kohlerwalkinbath.com for more info. check on you shares of affirm let's bring in leslie picker for more on affirm another founder-led firm, it follows, just the latest data point. affirm is about eight times the valuation it receive in the latest priority rout, and almost a -- so the trick for investors

is whether affirm can sustained they levels. the ceo said earlier, the business can endure across the economic cycle. >> i believe we are well positioned for both ups and do you understand of the economic carousel we saw great performance in ours product both during the pandemic and during the very long expand that happened before, and we're excited for our part in building the economic moving forward. >> affirm's net revenue nearly doubled to about half a billion. it remains unprofitable. about 28% of its revenue stems from just one customer, peloton, so customer concentration a key risk, one to watch as this company is now a public company. so there are three of these -- clarna, afterpay, and

now affirm it would be incorrect to look at this i and say, well, they have competition. they should have competition the market is huge, but you know whose about is they're coming for? if i was a credit card ceo -- >> bingo. >> -- that's who they're coming for. and shoppay is in the middle of it, too. they're a clear and present danger to credit cards, who up until now have had a monopoly on they e-commerce pages. >> they offer about half of their transaction volume was based on zero percent apr. they partner with certain merchants, and then they have fees based on those transactions the other happened has a

interest-like model, but if you have zero% apr, how do you compete with that if you're a credit card? >> you have a venture capitalist and wall street-funded business model, where nobody is expecting profits. when you get a valuation like this, you can bring that fight to these large, established credit card companies for a very long time. >> indeed, the challenges is finds those partners he spoke with the partnership with spotify during his "squawk alley," but also a lucrative -- >> you know, i think we've talked about peloton every day this week. >> i think you're nudging me >> i have one, but to actually get on it. >> is yours factory condition? maybe i'll buy yours. >> it's untouched. [ laughter ] intel's swan song, target

hits the holiday market, and shapiro sells out. all of that after the break. s! they have customized solutions to help our family's special needs... graduation selfie! well done! and voya stays by our side, keeping us on track for retirement... giving us confidence in our future ...and in kevin's. you ready for your first day on the job? i was born ready. go get'em, kev. well planned. well invested. well protected. voya. be confident to and through retirement.

welcome back it is time for today's power rundown, where josh and i will

go through some of the stories today you need to know first it's bob swan song intel has confirmed that he will step down, and will be replaced by pat gelsinger he served as the first chief technology officer shares are up about 7% today, leading the dow, but language behind other chip names in general, with shares of nvidia doubling, while amd is up about 450% thoughts >> yeah, if you look at this chart, you look at the last three years, there's gaps all over the place, both up and down what that tells you is this company is not delivering consistent results even if that you have to go through a restructuring, consistency is important to the street when the street isn't getting it, you don't get the benefit of

the doubt, and this is the end result it's unfortunate, but this is not about sentimentality or how long someone has been in the company. sometimes you need change. it looks like a big chain and hopefully it will work out. >> i think also hidden in the news is they did up their guidance. next up, target hitting the marks this holiday season, with in-store sales, but e-commerce the biggest driver, more than doubling, the customers spent more to with the average ticket. targets with an all-time high before pulling back slightly nonetheless, my goodness. >> yeah, had a big run into the news on great news, you don't like to see the gulp up and then close louer. b, it's will have up 40%

this good news has more than priced finally, shakira selling the rights to her song catalog she's the best-selling fee meat latin artist of all time, after striking deals last week, with neil young, and fleetwood mac's lindsey buckingham it's like the alternate, alternate investment. >> not for me, though. i'm bearish on song catalogs my hips, morgan, don't buy. >> bada-boom, boom ahead, josh's trade school is in second, plus bitcoin millionaires could lose their

fortunes, because they lost their passwords. we'll explain when "power luh" rern tus.nc for skin that never holds you back don't settle for silver #1 for diabetic dry skin* #1 for psoriasis symptom relief* and #1 for eczema symptom relief* gold bond champion your skin your grooming business is booming. you need to hire. i need indeed. indeed you do. the moment you sponsor a job on indeed you get a shortlist of quality candidates from a resume data base. claim your seventy-five-dollar credit

when you post your first job at indeed.com/groomer

welcome back, everyone

here's your covid update this hour it hasn't happened as quickly as hoped, but u.s. covid vaccinations have passed a significant milestone, topping 10 million as of this morning, according to the cdc that's about a third of the doses distributed. texas has now r50e67d 2 million cases, according to the johns hopkins, the national total is approaching 23 million. the cdc says almost 2.9 million americans between zero and 24 years old tested positive for covie, almost 60% of them were 18 or older. a sobering study out of the uk, showing a mental toll on healthcare workers last summer 45% reported problems like seen depression, anxiety or ptsd, as well as excessive alcohol use. more than one in ten said they

had thoughts of killing or hurting themselves a hefty toll indeed. n back to you, morgan. with the major averages largely higher, the dow is up about, it looks like 63, 65 points the s&p is also up about half a person, the nasdaq is the outperformer, but some of those recovery-tied, reflation tied stocks are lower, taking a breather today check out shares of nio, though. those are slightly lower after announcing secondary offerings the stock is up nearly 50% in the last month alone josh is at the telestrator with a special edition of "trade school." >> i'm going to talk about secondary offerings. this has a once in a lifetime ev

stocks, and i think they need to strike while the iron is hot i think there's a few key points cfos are better sellers of stock than you are tesla and nio are both seller in the secondary market nio will be raising $1.3 billion cash $650 million is a conversable, due 2026 that pays no interest whatsoever 650 million in a 2027 convecon convertible, so effectively almost raising money for free. those convert over $93 a share, which is a 50% premium to where nio is now nio is very good at announcing new products are they as good at shipping them not quite yet.

43,000 cars in all of last year, so they have to build more to do that, you need cash. if you're a shareholder, don't worry about the dilution this is what you want to see happen the company raised a ton of capacity, do it on incredibly company-friendly terms that's what separates these type of secondaries in this case, no, no, you need the cash, you need to make some cars rick santelli is tracking the action at the cme. rick, how are you? >> great, josh great job. we all want that perfect location to recommend, and when it comes to interest rates, a big story this we're is how they've been shooting higher look at an intraday of ten you see the drop that was at 1:00 eastern, and what happened? well, big concession, when rates move up, everybody is expecting

they might take a breather it was a good idea look at the two day of tens, if you look at one month of 10s and 30s on the same charts, we've got from guns hot to guns cold pretty quickly and this index is very important. being a reserve currency, so many things have a relationship with the dollar. on that three-month chart, that recent low is a 32-month low we haven't bounced very far. morgan, back to you. >> we also want to ask about agricultural commodities, since you're in chicago at the heart of that. what's the read-through to inflation, this broader conversation, when corn is at -- >> whether it's orange jewel or corn, all of these commodities are zoom zoom zooming, and much

of the pressures is emanating from the agricultural area consider this. we've seen the usda bring estimates of 40u67 domestic supply we have, production is way down the chinese have the largest production of hogs, and it's been surging, what do you feel hogs grains where do they get grains from the u.s., south american, and more south america has real bad weather conditions, so ultimately this is a classic supply-and-demand story. demand is going up up up, and supply not so much adding weakness to the dollar, morgan, there's a lot of moves for commodities to continue to run to the up side >> josh, what are your thoughts? on the heels of this usda report that we got out yesterday, you did see highs for -- the potash, fertilizer names like mosaic,

a how does it speak to the recovery trade >> i think rick has it right it is a combination of demand going up and supply being low, if you want to pit one of those two factors that's most -- i don't want to say at fall, but most responsible, it's the supply side, the supply shock. corn is at a seven-year low, though when you think about what will drive this, and will it be a problem this i think the best cure for high prices is high prices you will have a different type of season next year, markets will start to discount that early, and i like there's a lot of demand. i think it's representative of the economy recovering. >> also interesting to see how it plays out with china and trade flows, with a new incoming administration. netflix, disney hot on its heels. can it catch up? which stock should you be

r ading n? outrers weigh in next on "power lunch." i made a business out of my passion. i mean, who doesn't love obsessing over network security? all our techs are pros. they know exactly which parking lots have the strongest signal. i just don't have the bandwidth for more business. seriously, i don't have the bandwidth. glitchy video calls with regional offices? yeah, that's my thing.

with at&t business, you do the things you love. our people and network will help do the things you don't. let's take care of business. at&t.

disney wasn't far behind net conflicts, with seven of the top ten most streamed movies could disney becoming for netflix's crown? let's ask todd gordon, and quinn petro of jewel financial todd, let's start with you i'm curious about your positioning currently of 234e9 flicks, do we need to worry about this rivalry which do we think is most at risk as we get further into the year >> hey, josh, nice job too i don't think it's an either/or. it's not just about streaming. disney media this year did about $20 billion in sales, last year about 17 at park resorts the year before that, they also did about $27 billion. obviously a vaccine roll-out is

being priced in. if we think back to the lows, knowing the country was going to be shut down, would outpace netflix in net gains disney is up about 90% from the march flows, while netflix is up about 60% they're both about 20% from the highs i don't think it's either/or they're serving two different demos. disney is family oriented, they watch the same shows over and over again they have the ability to monetize the content through predict the franchise -- i have, netflix dominates the adult-focused content. so there's room for both i was talking to my buddy who has this -- he's the main production management for ozark. they're shooting season 4.

>> todd, i'm with you on that. i know i'm paying both i'm not allowed to cancel either >> right. >> let's go to quinn netflix consolidating for most of the last six months, but certainly not falling off. disney has had a spectacular run, where do you sit on these names? >> i have three kids, we're not cancelling others. i think the price points are not extreme. from more of an investment standpoint it's more of a valuation question i just can't touch netflix here. trading 55 times forward earnings, they have really beefed up their debt, 1.5 debt-to-equity right here. if we had a significant decline in this name, where all of a sudden everybody threw it out saying they're dead, you know, let's say there was a new player in the game, maybe you can pick

yours up, but it's just not a touch for me disney has had an unbelievable comeback obviously they did not get the credit they deserved, but we owned the stock stock, i'm very pleased with all of that, but trading almost 40 times forward earnings this is one that's got to come in as well, so i think there's room for both. i think investors longer term, i think disney is the play they have more than just the streaming, but you have to be patient, next correction, it's on the shopping list two good traders, two great dads todd, quint, thanks for joining me for more, follow us on twitter on go to the website. up next, the story that everyone is talking about, bitcoin lookedcked up, an owner is locked out, one who only has two guesses left to figure out

the password the author of that great story is next. >> announcer: now the latest from trading nation.

stay restless with the icon that does the same. the rx crafted by lexus. get 0.9% financing on the 2021 rx 350. experience amazing at your lexus dealer.

welcome back to "power lunch" with so many online services right now people have a lot of passwords to remember and usually a lost one can be retrieved with a simple e-mail and proof you aren't a robot but imagine if forgetting your password could cost you millions that is what's happening with bitcoin millionaires right now joining us to discuss, the writer for the "new york times." thanks for being with us i read this article from you, "digital gold: bitcoin and the inside story of the misfits and millionaires." that's your book i read this article about these bitcoin millionaires that can't access their actual bitcoin and it was suspenseful like a

thriller reading about some of these people break it down for us what's going on? >> well, you've got, you please be, the bitcoin millionaires, also bitcoin thousandaires and hundredaires who are facing this problem which is bitcoin is based on this system where you get a private key to your wallet and you are responsible for holding that key it's essentially sort of a pass word and if you lose that key you lose your bitcoins and it is -- it makes for a lot of dramatic stories. it sort of points to what is distinctive about bitcoin that people can often miss when i see it, the sort of speculative mania around bitcoin it is easy to miss this is a different kind of money and technology than we've seen before and it creates for these crazy situations like the one that are in this

article. >> i think this highlights this bright red dividing line between people who are speculating in bitcoin's price and aren't religious about it and don't actually plan to use it versus people that really want to have money, quote-unquote, off the grid or untraceable and if you're in the former camp, you're probably better off taking those bitcoin codes and passwords and seeds and all of those things and probably sending it over to something like gray scale, bitcoin trust give them your coins you'll get shares in the trust publicly traded. no password. do you see it that way do you hear people worried about this issue just saying let me convert it into something a little easier to use >> yeah. i think you're right most people who encounter bitcoin now particularly people coming into this fresh, you know, are buying it on pay pahl or square or going on coin base and setting up an account. with all of those services, you know, really they're holding

your bitcoins for you. you don't own or hold them but of course that was -- that goes somewhat contrary to the original idea of bitcoin, which was that this was a money that you could hold yourself. it's a little bit like the idea originally was this was like cash that you could hold and so that is what sort of set bitcoin apart. that was the promise you could be your own bank that is also what makes this so dangerous. that password is literally your money. in the case of the guy i wrote about he has this wallet with now $250 million worth of bitcoin. yesterday it was or monday it was $220 million but that password is worth $250 million. that is what makes bitcoin so different. >> yeah.

>> he should call the mafia on himself and have them interrogate him. he knows somebody who knows how to get answers out of him. >> what happens if he tries these passwords and can't get in what happens to the bitcoin? one of the things we're hearing about the run up in price of bitcoin is they are such a limited supply >> yeah. if he can't get into that wallet those bitcoins are essentially gone i mean, they exist still on the block chain, this word i think now your -- >> give me one hour with this guy. i'll get his pass word >> it is funny, you know, you're saying that, because the number of people who have come forward with their idea for what's going to work to get him to remember his password, obviously all of the hypnosis, needs to go to peru you know, bring it out of him. what we're talking about in the case of stefan thomas is 132

character crypt owegraphic password this is not his mother's maiden name and birthday. this was a password made so it could never be broken. >> thank you good luck to him we'll be back after the break. what if you could have the perspective to see more? at morgan stanley, a global collective of thought leaders offers investors a broader view. ♪♪ we see companies protecting the bottom line by putting people first. we see a bright future, still hungry for the ingenuity of those ready for the next challenge. today, we are translating decades of experience into strategies for the road ahead. we are morgan stanley.

markets are mostly higher right now. the dow is at 77, s&p 5003816 the level there. >> i want to point out shares of

paypal up in sympathy with the firm because they have a comp competing version of what affirm does called paying for takes six seconds to get an answer in the shopping cart. paypal will say yes or no, we'll let you pay in installments. this is clearly the wave of the future big move paypal almost $ #p 00 billion in market kap today -- almost $300 billion in market cap today. >> thank you very much welcome to "closing bell." history in the making this afternoon. the impeachment vote in the house of representatives set to begin any minute and it does appear president trump will become the first person to be impeached twice. we'll bring you updates on the voting and the moment it becomes official during the show right now stocks are moderately high let's have a look at what is driving the action growth and the momentum out performing today cyclicals pulling back reversing the recent trend focused to president-elect