to know we're going to have all of that waiting for you on monday. good night from new york. from the fox studios in new york city, this is maria bartiromo's "wall street." >> happy weekend. welcome to the program that analyzes the week that was and helps position you for the week ahead. our special guest today, the founder, chairman and ceo of gam coinvestors. and don't forget a revealing and fascinating conversation with the managing director and cofounder of elevation partners, also the former mentor to mark zuckerberg, an early facebook investor. you need to hear what we has to say about the issues around facebook and a tough week for the work. first, der deidre is standing by

with the latest. >> even by recent standards, this was one busy week. the markets closed lower for the five-day stretch. the president's tariff against china played a huge role in market sentiment. the day they were announced the dow sold off less than 700 points. the tariffs impose on chinese products.?d beijing responded with tariffs on american's fruits with ports with, wine and other products. this was the worst drop since february 8th when it fell more than a thousand points. the dow is now down for the year. on wednesday fed share announced a quarter of a point interest rate hike and said more would come next year and higher rates make all borrowing more expensive.

there was also additional turmoil in d.c. the president's lead attorney in the russian probe resigned. all three major indices fell. the dow and the s&p 500 are both in the red for the year. facebook stock them for the year. cam bridge analytica reportedly accessed day the that on tens of millions of facebook user users. this ignited long term concerns on how facebook uses and safeguards the data of its user. an interview with mark zuckerberg did not calm investors. facebook stock lost 10%. president trump kept everyone guessing but he ultimately signed the massive spending bill passed by congress this week. he signed the deficit busting deal to help the military. >> there are a lot of things i'm unhappy about in this bill. there are a lot of things that

we shouldn't have had in this bill but we were, in a sense, forced if we want to bill our military, we were forced to have. >> earlier the president threatened to veto the bill because it doesn't extend protection to daca recipients or provide full funding for the border wall. back to you. maria: a rough week for wall street. it with as cocktail of bad news from tariffs to interest rates to a fiscally reckless spending bill and more turmoil in the special counsel investigation. all taking a bill toll on your investors this week. joining nenow, the founder, chairman and ceo of gamco investors. and mario, it's always a pleasure to see you. >> a pleasure to be with you. maria: what do you think about this? we had worries over these tariffs against china, the aluminum and steel tariffs, 700 selloff on thursday because of the spending bill. >> it's about time we had

volatility. we step back and look at the global economy, $85 trillion all running up. europe is improving, the united states is improving, japan and china are doing well. united states is 25% of the world. so the consumer has a net worth close to $100 trillion. now the only negatives in that number are student loans, which are about $1.4 trillion and auto loans. we'll have some air pockets. investments are going to do well. i think it's going to be up 3% real for the year. inflation starts picking up. we have good growth in earnings and more importantly, you know, when we step back, the tax package is still being worked through, corporations are benefiting from the lower rate but there's also something else. territorial tax not a global tax which means companies are going to start located in the united states. less barriers. so the economy is good.

what's the market worried about? tariffs? yeah, i grew up and i remember reading ricardo comparative advantage. i remember reading about the negative -- that was good. the negatives of smooth 1930. maria: that was the negative. >> there's good, bad and the practical. the practical is that we have a trade deficit of almost $500 billion. we export 1.2 trillion but we import 1.7 and we're giving moy outo china and part of it isnfair. so you now have anrm wrestling going on. and i think that's got to work its way through the system. but like the dog, they just react to the 1930s and when that happened. we'll work our way through that slowly. and you know, the chinese have to come up with certain issues with regard to intellectual property. maria: it's not just that. if you want -- financial services, your industry. you want to have a firm in

china, you're never going to own it out and out. you have to own it 49% of a joint venture. >> you got to start somewhere. i'm not concerned about that. independent of all of that, that the tariffs. the consumer is feeling good, wages are rising, jobs are increasing and you know, we just have some structural issues. we'll solve them. maria: when you see the 700-point selloff earlier this week, thursday, as a buying opportunity? >> it's all normal in the market. markets go up and down. so you take that it's volatility. you have earnings and then you have the mutt. multiple to earnings. what jay powell did the other day saying we're taking and draining the liquidity. so you're going to see more of that. so you have a monetary head wind and rising interest rates and so that has an impact on the multiples.

secondly, companies valuations got a little high. and the question is are they going to be sustained at this level or are they going to come in. i'm in the camp saying they're going to come in because i can't assume they'll be there five years from now when i have to put values on the companies i follow and when i do bottoms up. maria: as they go up, you're still talking about earnings expected to be up this year by 18.5%, s&p 500 earnings expected to be up 18.5%. is anything impacting or changing that story in growth earnings from your standpoint? >> you have the oil patch doing well, the financials, in addition to that you have the pound today at like 141, the euro 124. there are earnings that are non-u.s. getting an extra tailwind. the earnings are okay. as the market discounts 2019, and unfortunately you got a little election coming up in parts of the world. you just had one in russia. china had a free market election and we basically, you know, you

always worry will there be a change in some of these dynamics. maria: free market election in china. he's going to be the president for as long as he wants to be and it looks like that's where russia is going with putin. >> it is what it is. maria: you mentioned jay powell, the federal reserve. when people start getting nervous on 3% on the ten-year and 1.75% on the fed fund. yeah, they raised rates a quarter point. >> from the consumer's point of view and the average mortgage is 200,000, ten thousand a year, 200,000st dollars a week, it's impacted the margin and that's what it's supposed to do. rates have been so low so long, and we have to get back there. and the $4 trillion that were pump into the system has to be withdrawn. so we have to get more financial flexibility to the fed and that's what they're doing. i'm not too concerned. the only thing that will happen is the headlines when you go to 3% or 3.5% on the teen your

with, going to say wow, a huge head wind and what does it mean for the stock prices. maria: bottom line, you feel good about the backdrop for investing? >> i love volatility, the algorithm of trading and the etfs being bought by investors, they're going to step back and say whoa, it's not one way. maria: even the backdrop in terms of earnings growth and economic growth. >> let's reinforce it. what i like about the united states is the rule of law. more favorable tax system, favorable regulatory environment and a market system with all of speed bumps and all of the problems and the potholes, still is a very good place to invest. maria: i want to talk about the specific names you've talked about. let's talk a break and talk about that and a couple more picks. don't go anywhere. we have a lot to discuss. we'll be right back. plus, the man who used to be

mark zuckerberg's mentor. >> they could have been a hero in the movie but i hope they get it together. >> why he's so disappointed with facebook later on maria part rom. maria's always on the go, taking over 7,000 steps each day. and she does it in any shoes she wants, with lasting comfort. only dr. scholl's stylish step has insoles that are clinically proven to provide all-day comfort. dr. scholl's. born to move. when this guy got a flat tire in the middle of the night, so he got home safe. yeah, my dad says our insurance doesn't have that. what?! you can leave worry behind when liberty stands with you™. liberty mutual insurance. ♪ ♪ i can do more to lower my a1c.

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maria: and we're back with investing ledge mario gabelli. mario, obviously a tough week. you've been finding a lot of opportunities. what do you like right now? give us some specific names you're invested in. >> i like to see what the millennials like, live events, sporting events but i like to see where there's barrier. on march 29th of this year you're going to have 30 baseball teams open at one time. i want you and everyone that's listening to own a piece of a baseball team. and they can do that by buying a company in atlanta, the atlanta braves, and its symbol, 672 shares, the stock closed around 22.3. they've got a suntrust stadium

that they own. they have a real estate facility and the atlanta braves and over the next three or four years it's going to improve dramatically. maria: msg, nasdaq traded stock, you like it? >> it's telling around 24,000 dlears. $24,000. when i think of the hot spots in the world, i think about nashville and reno and the hudson yards. so here i have mad son square garden with specific hidden assets, so the stock unfortunately is trading at $240 a share. but you're getting the knicks, which i'm not sure forbes is right but they put it at $3.2 billion valuation on it. when i do the math i'm getting that a reasonably low price. they're building a new facility in las vegas, a comparable city facility in london. it's awb set of lye entertainment. maria: i like the idea that

right now we're seeing synchronized global growth across the world and there are opportunities to see that continue whether it's japan, which we haven't seen that in a long time, or europe. now you put your toe in the water when when it comes to ge. >> i think he's going to inherit the deck, cleaning it out. there's some interesting parts of it, the engine business has been running well as a crown jewel. we own royals royce as an example, united technologies. and so ge engine business is a good business. the stock is 13. about 120 billion market cap. maria: wow. what a come down. >> we've started nibbling at it when it was 9 and 10. soso they'll skinny it down, go through the problems, putting a lot of money in a pension plan that's going to be out of the way next year. so there are a lot of pluses and i think two years from now it will sell a lot higher.

short term it's a lot of background noise. maria: obviously going to do some asset sells. in terms of mna, is this an area you're expecting to pick up, generally speaking mergers and acquisitions. now companies have a lot more on the balance sheet because of the tax plan. >> there's deals in the pipe line in your own industry, in the media and entertainment world. there's time something -- maria: time warner. you think that deal goes through? >> 80% probability that it goes through. the stock is 95. you're only making ten up. the expected probability is the stock is fairly priced given the dynamics and i think the disney fox deal goes through, 1.6 billion shares of disney, 1.8 billion of fox, per share of diss any and fox. and rupert becomes a large individual owner and you have all of the mindless investors,

you know -- maria: the passive? >> the mindless investor. they will own about 500 million shares. they don't know what they're doing. somebody has to give them life. it will be interesting to see how that plays out. maria: where else are you expecting consolidation? >> i think vie come and cbs are a natural. they'll put that together. 20 million in debt but 8 billio, 300 million to cap x. huge cash generator. the question is how do they do it and what's the terms of the trade. maria: great to see you. >> always a privilege. maria: thank you so much, mario gabelli. "wall street" will be right back in a moment. facebook under fire and one of mark zuckerberg's mentors say zuck only has himself to play. >> they blew it. thi>> here the full entire view

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maria: welcome back. tough week for technology this week, in particular facebook continued to face serious questions about the company's data mining controversy. one of the earliest supporters has been outspoken in how badly he thinks mark zuckerberg and company has handment this crisis. i spoke with roger mcnamee. roger was a mentor to mark zuckezuckerberg but not anymore. he's deeply disappointed rnl i think this is a tragic situation. facebook operated the company as though it was never going to take any interference where anybody, going to grow as rapidly as it could. and in the process it made some mistakes and those mistakes have had repercussions, in terms of loss of the user profiles,

50 million to cambridge analytica, an untold number of them to other software venn ven. that invasion of privacy is something people aren't going to be able to get back. facebook has to come guard and accept responsibility for that and things that went on in relation to the election. this is a moment of truth. this is a moment where their character is being tested and where frankly so far it's not going well. this has been a disastrous week for them. maria: you don't like the way they're responding to this? >> no. they have a horrible situation. the right answer is you reach out to the critics, find out what the problem is and then y sincerely make an effort to address it. what's going on instead is that they're pretending as though there's no big deal. they're kind of saying nothing to see and they're basically taking the notion that no one has a right to criticize them. it's a tragedy. i mean when you grow big you're supposed to grow up. and i know these people. they are better than what's going on right now and i would

just love to have them sit down and go guys, get this right. this is not that hard. maria: from a stock perspective, what are we talking about right now? 10% decline? >> this scares the heck out of me. this is a business space on trust. how can you trust them with the way they're behaving right now. and i think users are awbts absolutely within their right to change their behavior. everybody needs to understand anything you put on facebook could disappear. it would go to bad people and there's in way to get it back. facebook was a place we all trusted and i don't know how we get back to that. as an investor, that worries about me i'm not worried about the earnings. it's going to be hard to earn the trust back. the first time they came out to talk they blew it. maria: the growth story has changed. >> the stock story has changed. i still own the stock but i've had to trim -- you know, i don't

do the trades myself. i had somebody else now manage it because i'm involved in this thing. and they sold some stock this week because they went this is terrible. and i'm going, well it's been terrible for ages. why did you pick this week? and they said because this is the week they lost trust. maria: and it has everything to do with the way the leadership behaved. >> how many times have we seen this. we both remember how johnson and johnson handled tylenol. johnson and johnson didn't put it in there but they said these are our customers. we have to take care of them. and i look at facebook and facebook, their customers are the advertisers. users are your product. you have to treat the users as your customer, your family. they blew that. they could have been a hero in this movie. i think this is difficult. i hope they get it together.

maria: you know zuckerberg is going to go testify. >> i hope he does go to testify. he's going to fight it like crazy m. maria: when he was talking on tv, maybe if i'm the best guy. he wasn't really committing to it disblrntl. >> it was terrible. said something like i don't understand how anybody who would sign a certification that they destroyed the data wouldn't do that. i'm going, dude, you signed a consent to decree with the fdc and you didn't have any compliance for it. you got to be kidding me. he says we think that we don't affect elections. i'm going give me a break. you put out white papers talking about how you influenced elections. guys, you need a new pr firm. maria: don't go anywhere. more "wall street" right after this. ... relieve some of the house-buying... stress. at least you don't have to worry about homeowners insurance. call geico.

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maria: welcome back. a look at big market event coming up in the week ahead that could impact your money and of course we kick it off with

economic money. dallas manufacturing survey, also earnings reports for red hat and paychecks. next week tuesday, market movers, home price index and consumer confidence report will be out, along with earnings from brand names like sonic and ihs market. also wednesday we get the latest real gdp numbers, pending home sales, also blackberry, walgreen's reporting earnings. the markets are closed on friday for the good friday holiday ahead of the easter holiday and then on thursday we end the shortened trading week with the latest economic data on initial claims, personal income, the chicago purchasers management indicator and the consumer sentiment report out. earningout.coming up next week,k rock's rick reader, my special guest. i'll see you on sunday morning future. this weekend a special interview

with devin nunes. i'll see you at 10:00 a.m. catch me weekdays at 6 a.m. for mornings with maria. have a great weekend everybody. i'll see you again next time. real estate crisis. but it wasn't just vegas that was hit hard. lives were destroyed from coast to coast as the economy tanked. now it's a different story. the american dream is back. and nowhere is that more clear than the grand canyon state of arizona. so we headed from the strip to the desert to show you how to explore the new landscape and live the american dream. i'm gonna help real people who are facing some major problems, explain the bold plans that are changing how americans live, and take you behind the gates of properties you have to see to believe.