tv The Claman Countdown FOX Business October 4, 2019 3:00pm-4:00pm EDT
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long. charles: you have done extraordinarily well in gold. ld de well, sras done well, you have done well. that's why we always need your help. thank u very much. see you. >> thanks. charles: we are up almost points. last hour of trading could be explosive. liz? liz: it already is. look at these numbers. thank you. breaking news, the federal reserve is listening right now but what will the markets hear? job creation expanding as the september unemployment rate falls to 3.5%, lowest number in 50 years. you are looking inside the federal reserve where fed governor lyle brainard leads the fed listens discussion about maximum employment and the shifting labor market. the top dog at the fed to the right of lyle right there, chairman jerome powell, just kicked off the event about an hour ago and said overall, the economy is in a good place despite some risks. markets started hitting session highs, i would say moments ago,
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but they have been propelled all day by two rockets. the september jobs news which also shows that the economy added 136,000 jobs, and a booster from president trump, who again promised just ahead of monday's trade talks that quote, we have a very good chance of making a deal with china. that would be a trade deal. how do you trade these wild markets, because monday we were dropping, right now the dow's up 286 points. well, fox business is invested in you. we've got for you one of the original market wizards. the godfather of system and trends trading, larry height of mint. he's here in a fox business exclusive. his hedge fund was the first to hit a billion in assets under management back in the '90s. he will tell you about his unique run from a blind, dyslexic child in brooklyn to the top of the wall street hedge fund mountain. plus, the latest shoe to drop in the streaming wars.
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richard haase, the expert on all things foreign relations, on the violence in hong kong, whether the u.s. finally is pushed to get involved and the china trade talks. plus charlie breaks it on the new plot by a former trump insider. we are less than an hour to the closing bell. let's start "the claman countdown." liz: breaking news. i just mentioned this in charles' show but this is my apple app store and when you put in amazon video right there, nothing comes up. a bunch of other stuff comes up like amazon music and hbo, but for the moment, amazon prime video has mysteriously disappeared from the apple app store. this as apple tv plus will launch in november on the 1st of the month in more than 100 countries and regions. no word on what is behind the vanishing app but fox business is calling both companies to try and find out.
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we are hearing that variety, of course, which is one of the trade magazines, is saying that it is simply a technical issue. we are watching it. both stocks are still moving higher right now but this comes as earlier reports say u.s. lawmakers are asking apple rival spotify for information as part of a probe into whether the iphone maker uses antitrust behavior to support its apps. the music streaming service has been pushing for an investigation into apple for years. this comes as the magic kingdom launches a new line of attacks that's somewhat related to streaming. disney reportedly banning all ads from soon-to-be streaming rival netflix. the bob iger-led content giant earlier this year saying disney will not accept any advertisements from competing digital services ahead of its november 12th disney plus debut. the mouse house having a change of heart in recent months, compromising with nearly all of
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its opponents except for netflix. the "stranger things" purveyor not entering the upside down world. disney shares up 1%. netflix moving higher by 1.66%. the broader market is sweeping up these names right now. meanwhile, i need to get back to apple. starting the day on a bullish note. that's why in part you see the stock jumping 2.6%, at $226.65. nikkei report says the company has asked suppliers to boost production for the iphone 11 models by up to eight million units and that would be about a 10% gain here. the most orders for the cheapest 11 model and the next one up, the 11 pro. so they are ramping this up. no surprise. the stock hit an all-time high, exactly a year ago today, and at the moment, we are looking at apple jumping $5.63. now, apple suppliers loving life on the news. we call this the ecosystem or
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halo efct analog devis,cr, qualcomm, texas ments, these are many chip stocks here, all of them jumping anywhere from just under a percent to about 2.5%. nice move there. also breaking this hour, on this friday, crazy day here, but it is all about jobs. what's breaking is that right this moment, you're looking at a live picture of the federal reserve holding a so-called listening session. this is lyle brainard leading the talks. she has been extremely dovish and has wanted to pull back from the rate increases and while fed chair jerome powell earlier said the economy is in overall quote, a good place and the job creation numbers are fine and unemployment rates are encouraging, there is one outlier key metric that jumped out not just to us, but to a lot of market participants. wage growth, how much you get paid, is stagnant. let's get to edward lawrence, live in washington, d.c.
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right there outside the federal reserve. edward, what does this signal, that look, the economy is solid, but perhaps fed chair powell is looking at the wage growth and saying where is this? reporter: well, you know, he's one voice in this. the boston federal reserve president who is a dissenter says the economic numbers show a stable economy. now, he believes the fed has met their mandate, but is staying open-minded about rate cuts in the future. chairman jerome powell saying today that he believes that the fed or the economy is in a good place but it's up to the fed to keep it there. now, he is concerned about some cross-currents here. he's worried about what he says with the u.s. and global economy, low growth, low inflation, and low interest rates. listen. >> slow growth is obviously not good. you may be asking what's wrong with low inflation and low interest rates. low can be good, but when inflation and consequently interest rates are too low, the
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fed and other central banks have less room to cut rates to support the economy during downturns. reporter: now, what he did not say in this speech, what he has said in other areas, that the fed will do what's necessary to keep the economic expansion going. the bottom line for white house economic adviser larry kudlow, from the white house perspective, is the fed moved too aggressively in 2018 and we're now feeling the effects of that in the lower wage growth here would be better, according to white house economic advisers here. the fed also looking at that wage number, average hourly wages are still growing but yes, down from the 3.2% over the past 12 months, now at 2.9% going forward here. this could be an indication that there is low or no inflation pressures in this economy, and that is a big deal for a number of the voting members going forward on the fomc. liz? liz: all right. thank you, edward. let us know if anything happens within that meeting, which looks riveting.
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listen, we've got our cameras there. reporter: that is the room where they vote on interest rates. that is the room. liz: oh, really? take a wide shot, then. all right. good to see you, edward. thank you very much. while the jobs report is definitely giving the markets life at this hour, today's moves, would you believe, have still not erased the 838-point drop we saw over the course of tuesday and wednesday, but even with the crazy moves this week, one stock in particular quietly gained 17% over the week. crowdstrike, the cybersecurity company stock rebounding after initially falling 10% last wednesday, when it was revealed that president trump had mentioned somewhat negatively the company during his call with ukraine's president in july. one catalyst behind this week's move higher was an upgrade from suntrust which pushed the stock which is in very big
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cybersecurity, and was the one that analyzed the russian hacks of the dnc, to a buy and reiterated its price target of $80 per share. crowdstrike having just great week. so is this week any indication of what's to come through the rest of october? and even 2019, should investors buckle up for a roller coaster ride? certainly this week, we did, guys. let's go to our floor show traders. get right to it, tim anderson. how do we spin this forward? >> well, look, i think the traders, after the last 12 months, from the selloff in the fourth quarter of '18 to what we have seen this year, have got to be pretty comfortable with volatility. if they're not, maybe they shouldn't be trading actively in the market. now, the great thing that volatility does, it helps us define levels of support and resistance and it also helps us identify which sectors and which stocks are strong and have very strong fundamental prospects. those are the ones usually that sell off the least during sharp
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declines and that rally the quickest on recoveries. liz: okay. phil, i heard you saying yeah. give me your sense, because it has been such a wild week. >> i'm afraid it's going to calm down. i was having so much fun, you know. i mean, the reason why i think that is because of th jobs report today was kind of like in the middle, it wasn't red-hot, there was some good, there was some bad, it's overall strong, you know. it kind of shakes off the fears of an immediate recession. now we have to wait for an entire month, the end of the month, for the fed to give their final talk. i think in between there, you are going to see the volatility but i think it's going to be very measured. lot of ways to play this. some of the traders here say, you know, trade small and pray, take a lot of risk because it's probably going to come back. very dangerous thing to do but a lot of traders do that. the other thing is take advantage of the options here. really, with high volatility,
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there are some types of spreads where you can take advantage of that, take in some money with limited risk, and use that to your advantage. liz: but chris robinson, that's very much your territory, with options and futures. but looking at what happened with the manufacturing number, which was the worst in ten years, and then you take into account that wage growth at the moment is really somewhat, you know, middling, let's put it that way. there was a gain of 2.9% year over year but that of course was the slowest in 14 months. last year it was 3.2%. so i guess the qstion becomes if the consumer starts to get a little worried and doesn't see his or her wages going up, even though jobs are absolutely plentiful, what does the fed do? this gives the fed real air cover to cut rates again. >> yeah, i think so. that's what we've been talking about. it's interesting, back in '18 we were all getting prepped for the ten-year to be at 4%. now people are looking ahead going whoa, whoa, we could have
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the ten-year at zero or negative. so there's still room to go. i think that's one sea change we've had in the past really three or four months now. and you know, overall, this volatility, we have seen it all year, we have been in a 3,000 point trading range in the dow just in the last two or three months, we've had nine or ten days where we've had 2% or 3% moves. i believe that continues to go. and the way you survive in a market like that is you have to have a plan before it happens, because if -- you can get frozen like a deer in the headlights when it moves against you and then the opportunity's gone. so you really have to have a plan in these markets. liz: by the way, at 1.50% for the interest rate on the ten-year, it fell through the resistance level all week of 1.51%. so it's amazing to see the dow is up 291 points and the markets are green on the screen when there is concern as we see that number come down. great to see all of you. enjoy your friday and what's left of it. here's a question for you guys.
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bringing up the strong american consumer. is this american consumer the new santa? that prospect jiggling retail bells in this final hour of trade. we've got 48 minutes to go before we see that, with the dow up 293. shares of shopping's favorite names advancing on the national retail federation's prediction that holiday sales could rise as much as 4% to $730 billion this holiday season. but the industry group is warning there is one potential lump of coal that could threaten it. the trade wars. with u.s./china trade talks set to restart monday, new more intense violence in hong kong conjures the question, how much longer can the united states restrain from getting involved in the growing conflict between democratically inclined protesters and police? council on foreign relations richard haase, one of the world's most foremost policy experts, is ready to unmask what happens next as the simmer turns
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to a boil across the pacific. he's next when "the claman countdown" returns. ♪ limu emu & doug and now for their service to the community, we present limu emu & doug with this key to the city. [ applause ] it's an honor to tell you that liberty mutual customizes your car insurance so you only pay for what you need. and now we need to get back to work. [ applause and band playing ] only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ beyond the routine checkups. beyond the not-so-routine cases. comcast business is helping doctors provide care in whole new ways. all working with a new generation of technologies powered by our gig-speed network. because beyond technology... there is human ingenuity.
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liz: all right. we've got breaking news on that situation, the disappearing amazon prime video app that just completely went awol from the apple app store. gerri willis just got on the phone with a representative from amazon who told gerri that this was just a technical issue and that the app should be back up shortly. so no black helicopter conspiracy. listen, they're both in competition when it comes to streaming but at the moment, they're both higher in the stock market. amazon up about .66%, apple up 2.5%. just a technical issue. hopefully soon fixed.
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look at the clock, it's 3:17 p.m. here on the east coast, 3:00 a.m. in hong kong, where a wild and disturbing scene continues to play out on the world stage. thousands taking to the streets in even greater numbers after city executive carrie lam, who is pretty much in charge of hong kong, invoked emergency powers to ban face masks and gas masks during protests. that ban was made under the quote, emergency regulations ordinance, a law that gives the city's leader the power to create regulations in case of quote, public danger. tuesday, for the first time, since the multi-week anti-china demonstrations began, police shot a protester with live ammunition. is the ban on masks the last resort before the government sends in the troops and what sort of impact will this have on trade talks between the u.s. and china which start this coming monday? richard haass, president of the council on foreign relations,
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joins us live in a fox business exclusive. what do you think, richard? is the next decision to bring down the military hammer and i'm talking about the chinese bringing that down, and who's calling the shots here? carrie lam or xi jinping? >> well, xi jinping. this has enormous consequences for him, because what's at stake is not simply the seven million people of hong kong and its economic importance but also this will have tremendous implications for taiwan and indeed, for politics on the mainland itself. so he's calling the shots. he is reluctant to use a massive crackdown on force, because again, it would make it far more difficult for him to ultimately realize his goals with taiwan if he were to do that, he could bring forward different types of economic sanctions, it could be pushed back against his leadership inside. this would be seen as a defeat. on the other hand, there's a limit to how much he can swallow. so the word dilemma is overused. this is a real dilemma for him. liz: i would imagine, because as
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you look at these protests over the past, what, 11, 12, 13 weeks, the u.s. response has been muted, even as these protesters have held up american flags. you know, they are democratically inclined, of course, and they want their freedom. this all began of course when china tried to have the long arm extend over to hong kong and say that anybody, even just accused of a crime, would be xra dioo dd to china from hong kong. hong kong likes its independence but how close are we, if at all, to getting involved in this conflict? >> you're right. the u.s. response has been mostly muted though the president did use some fairly forceful words the other day speaking at the u.n. let's be honest, this administration has not spoken about human rights or democracy anywhere. in that sense, hong kong is not much of an exception. we also have to be a little careful for two reasons. you don't want to encourage people because at the end of the
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day, encourage them too much, they're vulnerable, we're not going to intervene to protect anybody for obvious reasons. we've also got other priorities with china. you mentioned trade. there is also north korea. so for the united states historically, whenever you have a situation in a country like china, say even 30 years ago at the time of tiananmen square, we are trying to thread a needle where normally we speak out for principle but we don't go too far. liz: i would just say the one thing the administration has been big on is trying to stop human trafficking and i would believe that was part of human rights. but they have not spoken too much about this hong kong situation. let's shift to the trade situation in the european union, which of course just took a big ramp up because the world trade organization, granted the u.s. the right to slap tariffs on a lot of foreign goods coming in from the european union. i mean, we keep saying it, bordeaux, parmesan cheese, who
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knows what. what is this going to do to relations between the eu and the u.s.? >> it's going to hijack your weekend because you are going to be stocking up on these essentials. look, this is an odd response. wto ruled against the europeans because of the subsidies of airbus, and rather than responding hourly or in a way that affected say the airline business, we did what in other contexts is called war widening. we introduced other elements that were not germane or connected. a lot of europeans are wondering what is going on here. this will leave a bad taste, particularly because down the road for all we know, we are going to be vulnerable given certain government subsidies say to the military and to aircraft manufacturers on our part. so this seems to me, this is a kind of response in trade that's likely to escalate and worsen both economically and politically rather than calm it
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down. liz: did you hear, this was unrelated, about microsoft releasing news that the suspected iranian hack of attempting to dislodge passwords out of people's accounts and that they were specifically targeting in this hack some of the political opponents, perhaps, who are running for president? >> yeah, well, look, russia gained a lot of mileage in 2016, 2018. they are going to continue it now. i wouldn't be surprised if north korea, iran, china and others who have their own agendas. we haven't taken the steps we need to protect ourselves. we haven't made this as much of a priority as we should. essentially, i think others are interested in seeing whether they can get some advantage in influencing the trajectory of american democracy. this will sort of be another wake-up call. we have to take more measures to protect ourselves and put on notice to others that if you do anything like this, you will also pay a price in terms of your internal politics. liz: richard haass on a friday,
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liz: mum is apparently not the word for michael cohen, the president's former attorney is said to have big plans once he gets the jailbreak. charlie gasparino with the details. >> that's really good. he was more than the president's personal lawyer. he was his fixer, he was like attached to trump at the hip for many years. what was interesting is before michael cohen went to jail, he was obviously a trump, a positive guy in trump, he called him boss. he sold a book deal to hachett for $750 million. a story we reported. they pulled the book deal from him last year when he came under
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all that legal problems that landed him in jail. he's now in otisville federal lockup for a period of three years, which he began in may. that was a positive book. but what cohen is saying now, he's telling this to people who are visiting him in jail, obviously he has a lot of friends in the new york circuit and i know some of these folks. what he's telling people is that he is going to try to pitch another book. he definitely wants another book. it's going to be decidedly different than the first one. the first one was, again, you know, a lot of publishers passed on the first one because he was trump's personal lawyer, he was under wraps on what he could say, attorney/client confidentiality so he really couldn't like explain things, couldn't give all the juicy details in how he was a fixer for trump on this and that. by the way, off the record, some of his stories were very compelling, i was told. scary and compelling. this guy was like a mob boss at times or mob enforcer when it came to trump. he was involved in the stormy daniels issue, the hush money payoff to stormy daniels, he was
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tangentally involved in the one with karen mcdougal, the president always maintained he did not have affairs with these women despite all the evidence that it looks like he had. he was in the middle of all this. on top of that, he got nailed on i think it was tax fraud, tax evasion. that's why he's in jail for three years. including with the campaign finance violations. so the initial book was going to be positive. now from what we understand it's going to be a tell-all. liz: there is definitely scorched earth between them. >> listen, there's two issues here. number one, you would think it would sell if it was a tell-all. during the congressional hearings it was pretty interesting. he talked about how there was still smoldering investigations out there into the president, maybe his business dealings. he talked about how trump manipulated his taxes. liz: the new york's d.a. office was doing an investigation. >> southern district of new york which is more than the new york d.a. that is the federal prosecutor in new york. he talked about his business dealings and from what i
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understand, from these people that know cohen, that is the juice of this book, if he does write it. that's the positive. the negative is, he did such a 180. it's the credibility aspect. it's unclear whether publishers will, you know, will take the word of a guy that did that much of a 180, literally he was calling trump boss one week, saying how great he is, then not too long after, he's attacking him, he's calling him the worst thing in the world. we should also point out this sort of credibility is what follows around people like anthony scaramucci. one week, anthony scaramucci saying how great trump is, the next week he' turning around saying he's the worst thing, basically calling him a fascist. that sort of stark contrast, we should point out, mooch a year ago, probably today, put out a book called "trump, the blue collar president" so put it in context. liz: he would say that he hit a tipping point. some of us do. >> i know. i don't know, it was to me, it was too stark.
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listen, i'm not in his brain. i'm giving you my opinion about him. but i'm telling you, that sort of issue is going to be facing michael cohen with a book publisher. you were doing everything you can, saying how great he was here, but now you're saying he's the worst thing in the world. that is going to be a problem. but what we do know in these private conversations is at the top of his list, when he gets out in three years, he wants to write the book. for all i know he's writing it now. i think he needs to be present and out of jail to actually pitch it, to be honest with you. i'm sure being a lawyer, he could do it but this is as much as i know. liz: thank you very much. while charlie was talking, we just hit market session highs. 324 points. 327 now. it's like a casino, isn't it? speaking of which, you are about to meet the man who looked at the markets and said i'm going to trade them like a casino and guess what? he started life as a blind, dyslexic kind of poor kid from brooklyn who went on to become
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one of the top wizards of wall street. larry hite, the founder of mint investment, is here exclusively to share his story of overcoming all the odd to run a legendary hedge fund and reach the pinnacle of success and now, he is about to explain and spill his secret of how he did it to you. that's coming up. and this week, everyone talks to liz, my podcast guest is a gold guru. when i say that, trading gold. he also knows five different languages, totally fluently. rbc managing director and world-renowned gold trader george gero who says gold trading saved his life during the holocaust as his life escaped hungary. now he's on the top of the gold industry. apple podcasts, google podcasts, fox news podcasts.com. please, do me a favor, over the weekend if you're driving somewhere, download it, rate it, subscribe it. let me know what you think. twitter me. "the claman countdown" is coming
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not to be outdone, take 2 interactive upping its game. red dead redemption 2 will be coming earlier than expected, on november 5th. preorders for the sequel will start next week. take 2 shares up 2.6%. investors also getting hot on shares of five below this hour. discount retailer [ inaudible ] to shoppers of all ages. shares up nearly 2%. up next, from zero to hero. market wizard larry hite on his unlikely climb to the top of the market, next on "the claman countdown." it's been reported that there's a cyberattack on business every 39 seconds. ouch. i don't even want to think about it. comcast business has a solution.
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the nasdaq, triple digit gain here, up 101. we are hitting brand new session highs, fresh ones. i know i just told you before the commercial break we were at session highs but we've added on. look at the transports. while they are up right now, and these are the railroads and the airlines and the delivery guys like fed ex and ups, up 77, the transports have been hammered so badly this week, they would have to be up 415 points today just to break even. that's how much they lost this week. the transports are just really suffering here, even though as you see, they are moving higher at the moment. then there's google. google has just tweet ed quote, it will be starting construction on a new data center specifically in papillon, nebraska, new data center, that would be jobs in nebraska. then we've got this on paypal. we kind of mentioned the possibility of this yesterday. it is now official, paypal has just announced it has officially
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withdrawn from facebook's libra or cryptocurrency network. it was one of 28 companies that had agreed to back the cryptocurrency and the system that facebook is coming up with. now it is pulling out officially and says we're not going to be part of this for right now. all right. what a week we've had. so how do you invest? well, what better way to invest in you, which is of course fox business's theme now, than with larry hite, the first hedge fund manager to hit $1 billion in assets under management. he is here. larry overcame not just massive vision problems, blind in one eye, half-blind in the other, learning disability, he created a massively successful trading system that earned him the moniker market wizard. he's now sharing it all, he's the author of the book "the rule, how i beat the odds in the markets and life and how you can, too." mint investments founder larry hite joins us in a fox business
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exclusive. thank you for being here. we want your tips for our viewers because we want to make the landscape more even and fair for everybody else. i want to talk about your way and how you see the volatility that we've seen for the markets this week. >> i'm very friendly to volatility. volatility creates opportunities. liz: yeah. you see opportunities. but how do you find them? i look for new highs. if all you did was buy new highs and get out, you lose a small percentage of what you bet, you would get very rich. liz: wait a minute. i always heard buy low, sell high. >> that's if you plan on living very long. no, to make money, this is a crowdsourcing game. you have to be if not ahead of the crowd, you've got to at least be in the front of the crowd. liz: so you call it trend
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investing. we can put up some of the tips that made you hundreds of millions of dollars over the years. number one, you say look for bets with huge payoff, but with very little risk, without huge risk. >> right. liz: okay. that to me seems very captain obvious. of course we look for the ones with huge payoffs but how do you spot them? >> because you look at what's on the table. what can you buy an option at. what could you construct a scenario that will keep your loss low but your upside gigantic. liz: you would buy a market like this, the dow up 345 points? >> all day. liz: does it entail having to be a trader? you also say spread many small bets across many different areas versus one large risky bet. >> depends on the terms.
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yeah. i look for the large bets and small ts. i look for good bets. liz: you ride your winners, you dump your losers. >>coect. liz: but what happens if your winners start to turn around and become losers? >> then they're gone. liz: with a little bit of loss, that's okay? >> yeah. look, you're going to have t pay something in any game you're in. that's the admission price. liz: what you see now as a good trade like this, netflix, amazon, intuit, these do have one common thread. they are all subscription models, are they not? >> correct. liz: what do you say about those three? what makes you spot those and say these are the ones? >> i brought this headline in. liz: okay. >> amazon generated last year $104 billion. you cannot think of any retail
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company in new york city that generated that from any store. liz: 1,737 per share. you would buy it here. >> yes. look at what it's doing. they are generating -- they had gross sales of $104 billion. do you think macy's ever had $104 billion? liz: they have that guaranteed subscription model which is what you like, but then why, yes into it, same thing, adobe which you also like, but why not something like peloton? that's a new one that has a subscription model. it's the new ipo. people are wondering about that. >> we looked into it. liz: it's guaranteed month after month money. >> yeah. liz: i just want to ask you one question. you have always said wall street is a casino. warren buffett always says no, it's not, you buy a piece of a
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company and you hold it and you own a piece of that business. you say it's a casino. in fact, you bring up the term blue chip stock. >> yeah. because if you look at when stocks trade, they call the most expensive stocks blue chips. so i have a finance background so i went into my derivative dictiona dictionary. blue chip was the most expensive chip in the casino. liz: i encourage everybody, i read the entire book and i have a lot of business books that sit on my shelf. it's called "the rule" by larry hite, who scaled unbelievable odds. thank you so much. congratulations on your success and investing in our viewers to give them your tips. larry hite. closing bell ringing in 13 minutes. look at this, the markets now at
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an even fresher high. dow up 357 points. wow. what's going on here? it's a big friday night on fox business starting at 8:00 p.m. eastern, trish regan has an exclusive interview with first daughter ivanka trump talking about the jobs program and impeachment and more. then we will roll out our new friday night lineup. 9:00, maria bartiromo's wall street followed by 9:30 p.m., wsj at large with jerry baker and 10:00 p.m., episode, the brand new one of barron's roundtable. you've got to watch this, if you care about your money. only on fox business. ♪
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liz: well, high after high after high. yes, the markets are hitting major highs but i want you to look in the far right column here, at the percentage gain. is this strange? i mean, you've got dow jones industrials, s&p and nasdaq looking at nearly the exact same percentage gains, 1.3%. don't often see that kind of thing but it is rather interesting. if you are a bull, you're very happy. you're probably making money, watching your 529s, your 401(k)s, your pensions expand, if you are in stocks. but not this one. we have trouble in computer land. shares of hpq plunki iplunging
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they say they plan to lay off thousands of employees as part of a restructuring effort. the company has been struggling to fix its troubled printer supply business. the stock right now, down ten full percentage points on the layoff news and the restructuring. hpq not the only name making waves in silicon valley. mark zuckerberg facing off against his and billionaires', other billionaires worldwide, fiercest democratic critics. connell mcshane with a preview of what's coming up "after the bell." >> the great steve forbes joins us most fridays on the show and we will talk to him today about new comments about billionaires from one of the best-known billionaires, mark zuckerberg and also new comments from liz warren about mark zuckerberg. tons of back-and-forth to get into there, plus of course, as we have six or seven minutes left to go in this trading session, what a week. we will see how it all wraps up and preview next week with the china talks and everything else. all coming up when melissa joins me at the top of the hour. liz: you say billionaires and
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i'm interested in watching. connell, thank you so much. all right. see you at the top of the hour. we're looking at a dow gaining 348 points. wrapup of the week and our "countdown" closer says value investing in this type of atmosphere is far from dead, but with a foreign flavor. of a different kind. adp helps canyon ranch place the right people in the right jobs, so employees like dave can achieve what they're working for. . . when you can stay home with neulasta® onpro? strong chemo can put you
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liz, wow talk about a run for the money. with closing bell ringing in three minutes the dow hit another fresh session high of 389 points. we're just off that right now. a gain of 371. but the market this is week are really, believe it or not, still in the red, when you stretch it out for the week. the nasdaq is the only one that looked like it is going to eke out a half a percent gain. let's bring in today's "countdown" closer. david marcus. portfolio manager for their global value fund. global and value, how do you make those work together?
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>> you know it is interesting because once you get outside of the u.s. things are so sort of disassociated with reality. europe especially is so far behind the u.s. in restructuring and refocusing their businesses. so, i've been a value investor for my whole career, 30 years now. and we found europe has been always a tomorrow story but now it is a today story. europe and value. so many things are lining up to make it a better place in spite of the negative headlines, those headlines are creating good opportunities. liz: opportunities to buy not at not too expensive level. i don't know if you saw larry hite. he said it is about to take off. you say get into vivendi, scorpio tankers. these are names you're picking. what did you consider value at a day where everything is running higher. >> vivendi is huge conglomerate.
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they own 100% of universal music, the biggest music company in the world and they have all kinds of media properties. the market doesn't understand all the value of these properties. every single person who pays through music from spotify or whatever, is customer of this business. business is booming, when you look at the the sum of the parts it is trading at a huge disfound. liz: what about frontline. >> they are the largest oil tanker company in the world. you have less ships than built before. regulatory changes, more scrapping of ships. trump put in sanctions, additional sanctions for tankers because of trade with iran. that took almost 5% of the fleet out of commission. so it is phenomenal for the sector. liz: 15 seconds before the closing bell rings, what have you learned from the market action this week? >> don't let the short term get into your head. invest for the longer term. when the market gives you a gift
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in the short run, things sell off. buy it. take it advantage. [closing bell rings] liz: a gift for the bulls. a gain of 372 points. david marcus thank you. that will do it for the "claman countdown." we'll see you on monday. melissa: rally for wall street. the unemployment rate dropping to a 50-year low. all days ending in the green on positive september jobs report up on comments from fed's jerome powell. the dow ending the day up, look at that,68 points. near session highs. i'm melissa francis. happy friday. connell: i'm connell mcshane. this is "after the bell." nasdaq and s&p 500 up firmly for the second day in a row, up 1.4%. fox business team coverage. edward lawrence at the federal reserve, gerri willis on floor
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