[closing bell ringing] liz: pandora, big gains. maybe they will be a target. we're watching this on friday the 13th. david: friday the 13th living up to the name and reputation until the last couple minutes of trading. we're still heading up triple digits on downside. all indices are down as you can see. a much improved market from where it was couple hours ago. we saw down over 200 on the dow. other indices were down much further. liz: the nasdaq getting hit by 21 points. that is a big clip. not as big as s&p or the dow. the dow is down nearly 1% on interesting day where there were big winners like el pollo loco, jumping after the beating the street. that is a heavily shorted stock. we also have lumber liquidators. david: "after the bell" starts right now.

liz: to the action. boy, did we see volatile. craig hodges of hodges small cap funds will tell us which asset class he believes is still king. chris robinson of top third ag marketing is here to tell us the safe place he believes he found for your money. it is not stocks. it is not bonds. what is it? mark lehman of jmp securities breaks down sectors he thinks will outperform the markets. how to play them. first bob iaccino in the cme. is this traced to the dollar which hit a 12 1/2-year high against the euro today? >> i think that has a lot to do with it, liz. the market has to accepted that the fed will hike rates sooner. i don't see a string of rate hikes. it will be symbolic. it will show economy is still gaining strength. not necessarily a blow to innation, going from zero% interest rates to 25 basis

points will not slow it down dramatically. more symbol i can, moving in the right direction, normalizing rates. s&p, dow, nasdaq, they will all be a buy. david: craig, at the end of the day, there were a lot of buyers came into this market. do you see anything on sale today. >> yeah, there is quite a bit on sale. you know, seems to me that sometimes before the april 15th tax deadline you get a lot of volatility like this, especially this tax year. when you have a year like last year where a lot of gains were taken earlier in the year, and then you have a bad fourth quarter, and you're not up much, you end up having to pay, pay taxes. it is, it is a hard situation when the market doesn't go up much. so i do think that, we'll see volatility for the next couple of weeks. but, at hodges capital we'll be using that volatility to pick up great companies that go on sale. >> chris, you had me at hello,

when you say it is not stocks, it is not bonds where people should be investing, what is it at this point? stocks have been so volatile, fox business has been telling you on bohl belle and "after the bell," to watch volatility -- "countdown to the closing bell." where do you put your money. >> you need to be setting hedges here. i talked about this last time i was on. two weeks ago today we were at record highs. dow was well above 18,000. when you get these 5% moves, that is nine hundred points. how do you play that. you look to protect yourself with a put option with either the s&p or dow. that is one s&p option to protect half million dollars worth of assets. that is something really worth looking at because, not only do you benefit if the market break, the put gains value, then you have money to put to work. it's a two-edged sword. something you should take a look at. we're really watching volatility.

until we decide what the fed will do you will have nine hundred point moves. 800 point moves on regular basis. that is only 5% and typically that is considered noise. david: considering ahundred-point move today was a little blip in the market. do you buy in the dips and if so how far do you buy into it. >> i think -- david: hold on. that is for mark. go ahead. >> thank you. we'll have a very volatile market this year. so many crosscurrents going on, whether with currency or with oil. obviously with rate hikes. i think with stay in areas that continue to be successful. we've been very focused on health care at jmp. we've been focused on volatility. volatility is up. a fertile active m&a pipeline coming up. that is an area we continue to see ipos that are successful and m&a that continues to happen. liz: i believe pharma, horizon

pharma, are two names you feel are -- >> one of them have been -- we've been talking about pharma sigh clicks. it has been taken out for $250. so the point, yes he made a good call. more importantly shows you what is really going on underneath the coverage. you don't have drugs improving life. they are extending life, curing diseases. this is happened in lukemia and help c. things on -- hep-c. this is on the melanoma front. i hate to say it all the time but i will only say here, we have a sea change with what is happening with the life sciences companies. when you win here, you're not doubling or tripling money. you're making far outsized gains with more exposure. david: i am glad you only said it here, only for our audience. bob, i have to ask you about oil. down another 4%.

you say it could go down to $35 a barrel but you like exxonmobil. why? >> well, if you remember, david, you're a daisy if you do, i said this a month ago, i said i wanted to buy s&p $50 lower. we're here down $45 lower. david: i remember you do. >> i said oil down to $35 before may. if it doesn't, you will not see it because of summer demand. seems to be well on its way there. buy exxonmobil at 84.25. i'm down percent 1/2. with over 3% dividend yield i'm comfortable with that these are multiyear lows on a really good company. everybody agrees at some point production is continuing to expand those rig counts will eventually matter. they haven't mattered. the reduction of rig count has not slowed production. american oil industry is producing like crazy with prices where they can make money. eventually it is going to slow. exxon will benefit from that. is the time to start scaling into it. david: good stuff.

we have to leave it at that. craig hodge, chris robinson, mark lehman, bob iaccino. thank you, gentlemen. lumber liquidators big in the news. the stock getting chopped again tumbling 15% after rally last couple days. goldman sachs and others cut price targets, citing weaker sales after "60 minutes," the tv show, questioned safety of some of its chinese-made laminates. >> to defend the company he founded two decades ago, tom sullivan, chairman of lumber liquidators. thanks very much for joining us. >> thank you. liz: you have said, again at issue are the ways that "60 minutes" tested and said they found too high levels of formaldehyde in the laminates that came from china, laminated boards that came from china. you said you have the reporter, anderson cooper on tape, you know, maybe our testing wasn't quite what it should have been or is different from what is required from the state. you say you have that on tape. you could shut this situation down right away by releasing that tape.

will you? why haven't you yet? >> well we have, didn't say exactly that but he agreed it wasn't a real world test and wasn't part of the carb standard. to retape the interview and, before the interview we had to agree not to show, release any tape unless they gave us permission to. but the bottom line is, the, you know the testing they use and is, deconstructive testing which is not reliable, not recommended by carb and not real world test. liz: will you fight to release that piece of tape with "60 minutes?" >> that is possible, yes. but we, what we really need, epa talked about putting in guidelines for finished laminate products. at that is what we need, carb test tests the core. they don't really test the finished product. what we need is one standard test to test the whole product as it is being used in the real world, in the home.

david: tom -- >> that's what we're testing now, as far as people that got scared from "60 minutes," we have, random people calling saying, you know, we do air quality control. we test ad number of your customers houses, they're all coming back fine. we're sending out thousands of test kits to our customers to insure them that it is fine. and once we get all that stuff back, we will, move on. but the main thing right now, that we're concerned about, is taking care of our customers, making them, assure them it's a safe product and we, that is our main focus right now. david: well, tom, the customer is king. he always has been, always will be but a lot of customers in the united states do not trust china, let me put it plain. they don't trust them. a lot of manufacturers don't trust china either. we've talked to a lot manufacturers who had their operations in china, brought them back to the united states because of corruption. because of problems with lateness, et cetera.

keeping that in mind, i know that you don't think the "60 minutes" story was fair, but with that suspicion, that customers have in their heads now about stuff made in china, might you rethink your operations in china? >> well, we test them there. we have people on the ground, independent people, our inspectors, that go into these factories every day. there are about 60 people we have in china to inspect. and we, check there and we double-check there or really triple check. we have our own labs where we test product. then we have third party people that test laminate and, anything, really. we test for different things but as far as laminate is concerned, we check that very carefully. we want to make sure it is carb compliant and safe. david: tom, i understand you're doing the testing, and i understand what you think about "60 minutes," and frankly, you may be right on that, but the fact is that americans don't trust china. and they see, from toys to all

kinds of things, including your lumber, there are now these push shuns have been raised. there also problems in china, other problems in china. would you consider changing some of your operations, bringing some of that manufacturing back to the u.s. or elsewhere? >> well, we have. with laminates we have brought a lot of that to the u.s. and to europe we buy laminates from. but products like bamboo and other items are just from china. so it is, huge manufacturing and, to get certain products have to be made in china. david: finish what you were saying. >> we, you know, we check, we check the mills. we check that it is safe. and that's, that's what other customers want from us. liz: okay. listen, let's say i've got some of this laminate in my home, i have it independently tested comes back squirrely and dangerous, what will you as the company do? >> well, if you test the air, sending out air kits.

formaldehyde comes from a number of sources including when you take a breath and exhale you create formaldehyde. this formaldehyde outside. when you paint your house, paint your nails, you are releasing formaldehyde in your house. if there's, get a test back high formaldehyde, doesn't necessarily mean it is the floor. we'll do further testing to see what it is. if it is, if it turns out to the floor we will replace the floor. we stand by our product and we're not going to ever, not take care of our customer. if it is not what we said it was, when we sold it, we will replace it. david: tom, i'm getting a wrap but how much is this testing going to cost? >> i don't know at this point. but it, the air test is not that much. so far we haven't had any reports of a high reading from, these people that, random people that called, we don't even know they were testing floors. it all looks fine. customers are happy and they

want, you know tell everyone that "60 minutes" blew it out of proportion and, flooring is fine. we actually had people that canceled orders right after "60 minutes," got scared. then looked into it further and came back and placed, replaced the order because they were comfortable that it is good and, panicked initially. liz: well, do this favor, sir. please come back as this story develops. it is always important to get out and speak bit, you as leader and founder of the company. thank you very much for coming on fox. david: thanks, tom. >> thank you very much. liz: tom sullivan. david: appreciate it. >> he is a legend in the investing world, author of one of the most widely read business books, a random walk down wall street. he is making a bold new contrarian call you can't afford to miss it. he is author of as we mentioned "random walk down wall street." he is up next. david: one of the smartest guys

now. fake irs agents, yes, there are fake irs agents, conning and thousands and thousands of people, causing taxpayers thousandsdove lars threatening them with jail time. >> what do snoop dogg, jared leto and rapper naz have in common? they invested in into oui new app. what does the app do? it lets investors trade stocks with a attractive twist. we're talking to the cofounder straight ahead. you need to hear about this.

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liz: stocks plunging into the red today as the dow settled down about 146 points. you see from the big u-shape on intraday it was a lot worse earlier. we have one wall street legend who is not worried about the big drop. in fact he says investors should embrace the selloff. david: which have burton malkiel, author of "random walk down wall street." i will call him that because he is a professor of economics from princeton. professor malkiel, what is good about a selloff? >> well what's good about a selloff is that you can buy stocks at lower prices.

i mean. one of our greatest investors, warren buffett, has a little quiz he likes to give. he says listen, suppose you love hamburgers and you're going to be buying hamburgers all your life. do you want the the price of hamburgers to go up or down? you think to yourself, if i buy hamburger this week or week after that i would have lower price. buffett asks why do people take the opposite view when it comes to stocks? they're delighted when stocks are up. very unhappy when they go down. it is as if the stocks that you're going to be buying for those who are, putting money aside into 401(k) will be more expensive, rather than later. hamburgers you will buy will be more expensive. so basically, what people ought to do, don't try to time the market. you will never get it right. take the opportunity, when stock

prices are a bit lower to buy more shares. only people who should care about stock prices being up are those who are liquidates their portfolios in retirement. >> hopefully people are not there, that they're in it for the long term. professor, you have one of the most famous theories on ever on wall street articulated a random walk down wall street, a monkey throwing darts at a wall chart can do better than a highly paid fund manager. where do you see opportunity? if you could guide guide the darts to which stock chart and which country and which type of stocks? >> therefore, i didn't really mean literally that you throw darts. what i suggested in first edition of random walk, you should buy index fund, thatfies and holds the market. the data came out from standard

& poor's last year. the standard & poor's 500 beat 86% of active managers. it is same for three years, five years, 10 years. the theory works. people should be invested in index funds. in terms where one might look now i would say the following. be a bit of a contrarian. the u.s. market has gone gangbusters. europe has been bad, japan has been bad. emerging markets have not been good. right now the u.s. market is not cheap. i'm not saying it is the top. i'm not saying that we ought to be really worried about it going down. but what we do know is, europe is cheaper. japan is cheaper. emerging markets are cheaper. their currencies have gone down. they're much more competitive. if you're not diversified.

if you're entirely in the united states i say let's look at foreign markets. time to look at them. currencies are very competitive. my guess they will do particularly well over next 12 months. david: more bang for your buck. a buck is worth a lot more. >> absolutely. david: i want to ask you a young people. you deal with a lot at princeton. millenials seem to be antimarket. something they have seen in their brief lifespan, enough of market downturns to not put them in the market. do we have a lost generation not going to invest in the stock market? or is that overblown, that comment? >> no i don't think it is overblown. look at flows of funds going into mutual funds and etf, they're very small relative to the past. the crash, the crisis, has, it

hacred a lot of people. i think a lost millenials are not putting as much money into the market as probably they should. i think there is something to that you know, i think it is a big mistake to, to sell this country short. even though i think stocks are high now. i see huge opportunities for millenials, to dollar-cost-average, put money steadily into stocks. u.s. and foreign. one of the reasons you had mentioned, i'm the chief investment officer of wealth front, is we then will put together a portfolio. rebalance it for you, tax loss harvest, we'll do it for a fee that is only 25 basis points. liz: you're cheap. david: you're a good salesman, professor. you're a good salesman.

liz: lot of people are getting charged above 2%. amazing. >> that is exactly right. liz: thank you, professor. write a book that keeps on giving. in its 11th revision. david: that is security, burton malkiel. >> thank you so much. david: a scam involving fake irs agents, targeting more than 360,000 americans. this is another black eye for the irs. could this end up helping the gop in 2016? liz: and a free stock trading app. professor malkiel said 25 basis points. how does free sound to you? this one is luring stock market newbies, in just one day it already attracted hundreds of thousands of customers. what is all the buzz about? and why are celebrities investing? coming up we're talking to the cofounders of robin hood. ♪

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david: markets recovered a little bit but still way down. what is speaking markets? interest rates? retail sales? inflation? possible global recession? let's bring in our panel. steve forbes, forbes chairman editor-in-chief, anthony ran dassault, reason foundation and fox business's cheryl casone. steve, what is it? >> economies like this one will not be doing so well. we know what is happening in europe. deflation caused by central bank, making it impossible for banks to make loans. we're seeing a little bit of that. we may not do as well as people thought we would do at beginning. year and rest of the world is worse. david: anthony, negative interest rates. they scare the hell out of me. how about you? >> definitely for me. a lot of traders have their own particular bogeyman. it might be that one. it might be the fed. right now, we're in the midst of, one of the best bull runs the market ever had. there seems to be a sense it will peak. there is a bear around the

corner. most traders don't beat the market. most traders probably think they're in 15% or so that do. so i think anytime something speaks up, they will try test the water as little bit. that's why we're getting a lot more volatility. david: cheryl, we had burton malkiel, he is one of the smartest guys around. he made a lot of money for his clients and students. don't sweat it. buy the dips. dollar-cost averaging. is that the way to go here? >> i afree with him. that you never want to scare somebody out of the market if they have a bad day. that is completely irresponsible. what the market is spooked around is the dollar. 12-year high against euro. euro is weak. i think there might be good investment opportunities over there right now. overall it is the dollar. u.s. companies, these are all the stocks you're buying in the dow or s&p, whatever you're doing on index or etf. these companies, operate in dollars. they're doing business overseas.

it hurts them overseas. hurts numbers. david: but you like a strong dollar, steve. >> the federal reserve doesn't know what it is doing. it didn't intend for that to happen. david: in relation to weakness abroad. move to the irs, one of steve's favorite subjects. listen to this. scam artists claiming to represent irs, scamming 360,000 americans, demanding payment or full audit. 3,000 targets were scared enough to hand over money. including one payment of $500,000. will fear of the irs, perhaps a move to scrap it, play into the next election? what do you think, cheryl? >> taxes come into play at every election that is part of the fun of it. most americans tell you they would love to get rid of irs. we've been trying for decades to simplify the tax code. every four years it gets more complicated no matter who is in office, republican or democrat unfortunately. david: anthony, suckers always play into the scam artists. there is not anything that

drives fear into americans more than the irs. is that right? >> well, that is definitely right. which is reason why so many people are falling for what should otherwise not be a scam. that anybody should be falling. one guy reportedly lost $500,000 to a scam like this? there is no reason somebody should do that unless they're completely irrational and terrified of the irs. this particular scam will not help gop. this is one more punch on pretty dark eye. only way gop take advantage of irs black eye, if they have a simplified approach. david: look, we're here in the presence of a man who has a serious alternative which is called a flat tax which steve has been championing a while. >> great idea. david: scrapping the irs because it is such a hated institution by most americans. huckabee is in that that. rand paul. is it going to be platform for gop? >> definitely. you have several republican presidential candidates or possible candidates will make serious proposals. serious proposals on radical

simplification. rand paul is one. scott walker is another. i think it will be part of the national debate next year. we'll finally get a real mandate to change the code, instead of this, oh, let's make it fairer and flatter. david: with some democrats coming on board? >> definitely. david: going to be bipartisan? >> they read election returns too. >> has to be bipartisan. good point, david. david: let's hope from his lips to god's ear. more to come with our panel. a lot going on this week among politicians, diplomats, companies and stocks. who got it right, who got it wrong? who are winners and losers? that is coming up next, liz. liz: david, may not seem like a likely pairing but snoop dogg and actor jared leto are betting big on a new app that lets you trade stocks commission-free with no minimum investment. we're talking to the cofounder straight ahead. thousands of people are jumping on this one. no complimentary champagne or warm towels or nice seats.

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and drive forward with broader possibilities. cme group: how the world advances. david: it has been a hell of a week for some and a wonderful week for others. who are winners and losers of the week? let's bring back our panel. losers first, you're not one but

anthony, who is your pick? >> iranian middle class. that letter from the gop i think will do a lot of damage to any potential treaty deal with iran. the biggest winners, of the treaty with iran would be middle class because lifting of economic sanctions. david: cheryl, losers? >> tyson foods. this is the nation's largest poultry producer. they admitted they cut out one of the antibiotics used at one of their hatcheries. you would think this is good news but not disclosing everything. consumer groups are after them. they will have to come clean to admit what we're eating. david: let's hope there is no formaldehyde. steve, losers? >> mario draghi. european central bank bond-buying program is a bust. europe is sinking like a stone. europe is continuing worse and worse economically. he is not a magician. david: he said greece is doing well. shocked the heck out of me.

i think biggest loser big government. the reason be, new "gallup poll," americans feel that is number one problem. there was a guy who saw that government is a problem, not the solution. take a look. >> government is not the solution to our problem. government is the problem. david: remember that, steve? >> i remember it very well. i'm still old enough to remember it. david: all right. let's go to winners now. cheryl, we start with you. you have a very contrarian pick as a winner this week. >> hillary clinton. david: wow. >> i think not only will she turn this into a win for herself, she will do it in the true clinton campaigning way. she will take all the negative campaign publicity and turn it around and fight. she hasn't announced but when she does, watch out. bill clinton is example. team clinton will be all over this. david: team clinton is amazing force. >> i take exact opposite position.

martin o'malley is big winner. the fact that clinton has not been able to get away for weeks, shows a lot of vulnerability. for elizabeth warren fans, martin o'malley can put forward ideas that warren may not get out in the mainstream. so it is martin o'malley. david: steve, winner? >> snort tom cotton arkansas. gave constitutional lesson not only obama white house or iranian mullahs. senate must approve a treaty. written in the constitution. david: he is getting a lot of feedback, moderate republicans don't like what he did. >> feedback from some. that treaty came whatever they put to it in the senate would not even get a majority. david: my winner, cheryl, sorry to do this, you may be right i think liz warren is winner. i think unlike anthony, she has a way to go. she has come from zero to winning senate. who knows where she will stop. i think she does win. politics is a week to week thing at least now early in the race. >> no kidding. david: thank you very much, gang.

steve forbes, anthony randazzo, cheryl casone. don't forget to catch steve forbes and myself every saturday 11:00 a.m. eastern on "forbes on fox" on the fox news channel. we've gota great show for you this week. liz? liz: new app so intriguing, it has sparked a waiting list of 800,000 people? no, this is not a dior purse everybody is waiting for. this is an app. we'll tell you what it does and how it can change wall street forever. no first class for you. there is a movement to keep members of congress in coach. you won't believe who started it. but first, would you be okay with reading mean tweets about yourself on television? so president obama was just fine with it last night on "jimmy kimmel." listen. >> is there any way we could fly obama to some golf course halfway around the world and just leave him there? [laughter] well, rw surfer girl, i think that is great idea. how do you make obama's eyes

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trade stocks? there is an app. there is way to trade stocks with mo commission. the app is called appropriately, robin hood. the app targets new investors and doesn't require a minimum amount of money to start a portfolio. we have the brains behind this hot new app. this is another one of these, david, these guys, stand ford roommates, who have made it big. right at the start here, as we look what is going on, tough explain first, you begin. how is it that there is no commission for this service? >> we started out to build stockbrokerage. we thought everything from the very beginning. we wanted to remove cost majority of people are paying, especially cost for folks that didn't have that much money. we looked at commissions, we thought that is lot of mon if you're trying to invest $100 or

$500 that was our goal at the beginning to see if we get rid of that cost for people. liz: i would imagine right off the bat there are restrictions? are there? am i prevented from doing certain engineering when it comes to financials and stock purchases and puts and calls? >> there is no account minimums. no trade commissions. we really, aim to make this as easy as possible for someone in their late teen, early 20s to get started. the response this week has just been tremendous. robin hood graduated from a product to a movement. hundreds of thousands of people, a lot of younger people signed up for the product t really started evan gellizing it to all their peers. liz: you have got major fans here in form of investors. andreessen horowitz, rapper snoop dogg and noz.

actor jared leto. how did they get involved? have you met these people? >> we have. they are good friends of ours we meet when our schedules line up. we bring importance of stock trading to whole new generation of americans. some things we see, they're really excited about is our average customer is 26 1/2 years old. and. just last couple months. we customers $500 million in commissions. liz: if you put a number on that is extremely useful. put a number on this. monetizing this. vlad, how do you make money? investors want to see return on this at some point? >> they do. right now our main focus is on growth. robin hood has been growing like crazy. we launched on the app store yesterday, really. so, the plan is to just continue the rapid growth as long as possible. and, we're a financial company. you know. doesn't take a genius to figure

out how to monetize this business. there are tried and true methods that other brokerages used very effectively in the past, aside from commissions. and premium services for, more active, more sophisticated investors. we plan to roll out in the near future. liz: we've got to go. you have an 800,000 person waiting list at this point. can i ask, will they eventually get the ability to trade on this thing? >> so the waiting list is actually gone as of yesterday. now anyone can download the app on the app store. you can find it right on the front page of ios app store. sign up for an account. trade right away. liz: no commissions. we'll be watching you. something tells me maybe ipo, or some type of purchase might be in the future. come back again, guys. good luck. >> thanks for having us. liz: robin hood, david. david: if i could invest in them i probably would, you know. probably worth a billion dollars in couple years. it's a crackdown on congress or part of what congress done. a bipartisan bill prohibiting lawmakers flying first class.

liz: fox business's rich edson joins us live from washington with more. rich? >> liz and david, lawmakers proposing a bill to limit congressional perks. this happened before. previous efforts to restrict air travel have failed. congress gives each office an amount to spend on staff, operations and travel. one house administration aid says lawmakers can spend money on ordinary necessary expenses. and that may include first class travel. critics say this bill is nothing more than a political stunt as lawmakers must spend within their budgeted amounts anyway. overall, congress has been spending less on its offices. in 2010 the house budgeted $660 million. last year cut the total by more than $100 million. one congressional watchdog says, the perks go beyond air fare. >> there are a number of perks obviously very good pensions, above and beyond social security. pay raises that happen. pegged to inflation. that is not something the average citizen can depend on.

>> now, as for first class travel, some congressional offices say their representatives fly so often they get status on airlines. so they book a coach ticket and airline upgrades them to first anyway. so while this first class ban, if it passes might not save that much money, supporters say it is a minimum symbolic gist ture from congress while the -- gesture from congress while federal government borrows hundreds of billion of dollars annual, lawmakers fly coach. david: at very least. liz: i remember fidelity, vanguard, brennan, jack brennan was flying coach because he didn't want his customers paying tab. david: if he can do it, so can members of congress. rich, thank you. have a good weekend. liz: you can take a spin class from the comfort of your own home. we're checking it out at the luxury technology show. that is next. david: there is team ackman. examined over herbalife. how the hedge fund leader and famous herbalife short seller is

responding to the probe. that's next. >> hi, everybody, i'm gerri willis. coming up on my show at the top. hour, on the day president obama visits the va hospital at center of the scandal on veterans care, what's changed? the doctor who blew the whistle on va will be here. that is one of the big stories coming up on "willis report" in just a few minutes. smart sarah. seeking guidance. just like with your investments. that sets you apart. it does? it does. you're type e*. and seeking another perspective is what type e*s do. oh, and your next handhold... is there. you don't have to go it alone. e*trade gives you the support and guidance to make informed decisions. are you type e*?

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liz: from a $6,000 smartphone to a device that lets you videoconference with your dog, high-end catches from some of the world's best known companies are on display at this year's world luxury show. david: jo ling kent put products to test. i want to hear more about the animal products but what is the general? >> liz will love this one. this is pelley ton bike. hooked up to a tablet. i interviewed director of sales. i got on the bike. it allows you to take bicycling classes from your home. i asked the greg. this is what he had to say. >> this is for incree americanal workout, where you can't make it northeast with tremendous amount of know. i can't make it out today. i'm going to take a class. get a fantastic class on my bike for, burn 600, to 800 calories.

>> that is good but also expensive. we're talking about a $2,000 bike with the tablet. plus you have to pay for subscription fee every month. it is about $40 a month. but there is also classes you can go to and take in person if you don't want to shell out the big bike money. they have a flagship location here in new york. plus they're in boston and east hampton of course and a few other places. they're coming to chicago. david: was there a lot of talk about the apple watch? >> there was a lot of reaction to it. we talked to a luxury smart jewelry seller, who thought it was good idea, but perhaps second or third generation will be better and more sharp. liz: dog thing, have a camera to talk to the dog? >> exactly. you can swipe. it will send a laser out so your cat or dog can play with you remotely. i think it is kind of cool. >> you're going to south by southwest, aren't you? >> i'm going to austin. we have great interviews lined up. all the top tech people. all new gauge gets, what some cog up next not just apple and

googles but little guy startups. david: people go to austin. they never come back. beautiful city. >> may book a one-way ticket. thanks. david: federal prosecutors and fbi probing potential manipulation of herbalife stock and interviewed people hired by hedge fund activist bill ackman. >> he has launch ad campaign claiming out right that the company is a pyramid scheme. our deirdre bolton spoke to mr. ackman today. he said he welcomes these investigation. >> is sunlight good for your investment, short in this case? >> for sure. the, first of all, i have a lot of confidence in the department of justice. they have to the very talented lawyers. i don't actually know whether the fbi has interviewed people. whether people from the department of justice have interviewed people but i know they have and i know they have interviewed consultant west work with. by the way the government should. if one party is accusing another of committing a crime, one you should investigate that, one if

there is enough basis for those allegations. you two, should make the sure the person who is accuser, if other side claims we're doing something wrong you should look at them wrong. >> what if global strategies spread false information while working for pershing square? >> i think probability of that being true is pretty remote. we've gone out publicly and said this company is a pyramid scheme. it's a criminal enterprise. it is deceiving poor people in the u.s., principally undocumented immigrants and taking money from them. i don't know what worse you could say about a company. so i can't even conjecture what someone might say that is false, even, that is worse than what i've said. david: also went on to say he think this is issue will be resolved within the next couple of years. catch all of today's interviews on foxbusiness.com. criminal enterprise? wow. he is going out there. liz: the stock fought back today. it ended higher this is stock and company that has been around

for 35 years. tough day on friday this, david. we'll see what monday holds. david: well the markets did come back at the end of the day. judging by this week, next week will be just as wild. liz: we'll be here. "the willis report" is next. gerri: hello, everybody, i'm gerri willis and this is "the willis report," the show where consumers are our business president obama goes to the va hospital as a snort of center of the veterans health care scandal. why is his administration still ignoring one of the most critical issues facing our vet. >> veterans should get private care if they can not get mental health care immediately at a va hospital. gerri: we'll investigate. from hillary clinton's email scandal to secret service agents acting more like keystone cops. dysfunction in washington, pushes competence in government to record lows. "national review"'s john fund is here with analysis. also, the fed says we're all richer than ever before. >> household