tv The Claman Countdown FOX Business January 15, 2021 3:00pm-4:00pm EST
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ourselves, these stimulus plans at 50% of gdp, i think that's going home to roost as people wrap their brain around it, but i think it's going to keep interest rates low, and that's good for the market. charles: mitch, great seeing you. liz claman, over to you. liz: happy friday, charles. another whale of a spending package. giving rise to this question: how are we going to pay for it? that's the fears of tax hikes on the horizon which is tripping up the bulls, but we are well off session lows. the dow down 89, the s&p down 17, the nasdaq lower by 78. in this hour we do expect president-elect joe biden will appear before the cameras to reveal the details of his plan to give a covid-19 shot in the arm to all americans and to speed up this process. the company already muscling its
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way to the forefront to help do that, zocdock's ceo is here. hundreds of thousands of americans have already flocked to his covid-19 scheduling platform. but then hospitals caused a massive bottleneck. how he plans to be the solution maker at this historically deadly time for our country. and forget owning a home, how about owning, well, at least a piece of your own skyscraper? lexus is a company that's doing that. this is a brand new marketplace that lets you own a slice of commercial real estate. its chairman is here. it's ipo day for the israeli-owned mega-gaming superstar is here. we'll check on the stock. plus wait til you see what the two stockses -- to jupiter yesterday are doing right now. we're going to show you what posh and woof, petco, what those investors are dealing with in
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this final hour. markets are taking a gut punch -- well, a bit of it -- thanks to today's december retail sales report that showed a drop for a third straight month. it was way worse than expected here. the retailers are getting wrecked at the moment, all down more than 1, 1.7%. then the start of the first quarter earnings season. jpmorgan reported record quarterly profit, but wells fargo saw a 10% drop in revenue, getting hammered down about 7%: and then the s&p, overall for the fourth quarter earnings season, the s&p 500 expects that to be nearly 10% lower year-over-year, but all it tax, right, is one company to report numbers to turn the sentiment around. which companies might be the ones to do that and do you buy ahead of that? right to our floor show traders on this friday. let me start with phil flynn.
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what do you think here? is there one or two names and one or two sectors that can actually change the trend? >> i'm going to go with two. next week it's bank week, right? bank week. and i like bank of america right now. i think they're going to beat the street on earnings, that's my prediction, and i also think that they're going to have an upbeat assessment because they expect the consumer to get better which right now, let's face it, the consumer --ed today's consumer confidence isn't feeling very good. so i think that's going to be the -- i think the other one is right now we're seeing the market move into value stocks away from growth stocks right now. and expectations starting to build that we're going to get going. one stock i like is monroe, it's an auto parts. i think people are going to leave their car, they haven't driven it in six months, they're going to realize they're going to need some new parts. i'm just saying. liz: you're just saying. [laughter] tom the hayes, you know, i often
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think of, well, it used to be kind of microsoft, and then it was apple in the tech world that really changed sentiment once a great number came punching out of the fourth quarter earnings season. do you have some names you're going to be watching, and do you buy them ahead of their earnings report? >> yeah, well, liz, i think in terms of the banks i agree with phil. you've got bank of america and goldman sachs on monday, morgan stanley on tuesday. and this was the case today the, what you saw was buy the rumor, sell the news. you had wells fargo is up 70% in the last ten weeks. to see it knock off 7% today and take a breather, citibank was up 72.5% in the last ten weeks. np morgan was up 50%. -- jpmorgan was down 50%. so to see them down respectively, i think they're due for a pause. i think in coming days and weeks as they settle down, they'll be great opportunities for the long term. and now expectations are a little lower for monday. to phil's point, bank of
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america, morgan stanley, they may actually do well off of earnings because expectations are a bit lower. then on thursday you have the tech two dow components, intel and ibm so we can see corporate demand for enterprise services, for chips. those are kind of the key stocks i'm watching and that's with the backdrop of a little weakness in retail sales due to the delayed stimulus if you remember the political wrangling. now we're getting stimulus more than we can handle, so that will be a good thing going forward. the vaccine rollout was a little slow, now it's going much faster, over a million people a day. i think this breather here is very, very helpful. like phil said, hook for some value in any -- look for some value and any consolidation in the weeks to come. liz: phil, you spooked at all by this retail sales number? the headline number down seven-tenths of a percent. that is way weaker than expectedded. the expectation was one-tenth of a percent.
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so i get that retailers are already on their heels at the moment, but what does this tell you ahead of what could be the new president, coming president's big $1.9 trillion report of a spending package? >> yeah, i can tell the retail sales number was going to be down by my christmas presents this year, we didn't get a lot. [laughter] i think probably because i was on the naughty list, but that's a different story. getting back to the retailers, this was a one-off number. i think at the end of the year we did see a bit of a pullback, uncertainty about the election, people were nervous, they weren't spending a lot of money. i think we are going to see a rebound, you know? and one thing i am cautious about when it comes to the retailers going forward is that the market is assuming that the stimulus package is going to be too big. i still think we're going to have trouble passing this thing. i think that's the other concern in the marketplace today, not only that it's too big and we can't pay for it, it might not pass. you would assume, you know, with joe biden having the house and
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the senate that this was going to be a no-brainer. i think the negotiations are going to be a little bit tougher than we think. i think it's going to be a smaller package, and that could be a problem going forward. liz: possibly. and a quick check on bitcoin, down about 9% to $35,329. 129. and we talk about bitcoin, it's just been going absolutely parabolic. finish anything, quickly, that you glean from the retail investor as we see bitcoin still above $35,000? >> well, there's still exuberance, that's for sure. and this is one of those pockets of froth where when you see a little bit of turbulence in the general market, money comes right out of bitcoin. the frost comes out of the he is las, -- teslas, etc. if you're in it, maybe take a few chips off the table. not my cup of tea, i like
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businesses that generate yields. and the last thing, keep your eye on the yield curve. with this stimulus, you're going to see 10-year yield continue to increase. that helps the banks. liz: ah, 10-year retreated from the nine month high that we had seen, down about three basis points. try and relax over the weekend. [laughter] let me get to pot stocks, starting with a company you probably used within the last 24 hours, that would be zoom, moving lower after bernstein -- higher, or rather, by about half a percent off the highs of the session. look at the far left of that lower chart there. you can see it was stronger, certainly, after bernstein put it on its highest conviction pick for 2021 with a price target of $610. it's at 384 right now. the investment firm says the stock is cheap, okay, price to earnings ratio is 112 but whatever. and the markets has put too much yes edens, bernstein says, to
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the threat of a pullback once people return to the workplace. while bernstein's move is moving zoom higher, citi's downgrade of palantir is pretty much having knowfect whatsoever. no effect whatsoever. palantir's moving up another 5% after citibank with cut the stock to a sell from neutral. nobody cared, right? saying that it may be headed for a down turn this year. and in the latest episode of jeff bezos' blue origin versus elon musk's spacex, rocket's start-up taking a big leap toward its goal of ferrying tourists into space. yesterday it completed the 14th test flight of its new shepherd rocket booster and capsule. very cool. the company says it could start flying passengers, yes with, humans -- yes humans, as early as this april. okay, april? blue origin's successful launch,
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billionaire richard branson's tourism company virgin atlantic is heading rudely back down to everett, down 6.9%. but this after a huge runup yesterday, and year-over-year the stock is still up pretty considerably. and it seems that with ip os, red-hot debuts lead to red on the screen. berm's down today 1 is.5 percent. poshmark ended yesterday's first day of trade up 141%. it's down 19% right now. and petco surged 63% in its market debut yesterday. it's giving back about 6.33% of that. check the dow, down 105. the ipo of the day is with us next. the ceo of the israelingly mobile gaming company tika tells us how he plans to make his gamble in the public market pay off for investors in what is
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only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ ♪ snuckliz: shares of the street's newest mobile gamer are moving higher right now. this is an israeli-based company going public, up 14% right now. precisely at the time when personal cell phones have not only become these sort of work if home devices, but gaming hubs. lockdown fatigue fighters. the latest numbers show that revenue, listen to this, generated from mobile gaming is up nearly 20% from 2019 to 2020, surpassing the $75 billion mark. that is music to the ears of our next guest. rocks is playtika founder and ceo live from israel on this big day for you guys. you priced last night at $27 a share, above the expect range.
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your stock jumped at the open. with about 45 minutes left to trade on day one, what's the fist thing you and -- first thing you and playti or ka are going to do with the money raised? >> the first thing, thank you for having me. this is my first time, and i'm really excited about it. and, actually, this is the end of the last two -- amazing for playtika and for the employees and for me personally. as a guy who started the company nearly ten years ago. for us, be a public company, it's not something -- we're looking at the share price, we're looking at for us the important stuff is we are right now starting the new journey and starting to write the new chapter in the history book. so we're looking for -- we're so excited about this. yes? liz: yes. and i just want to say we can put up some of your hottest
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games here. out of the top 100 games right now, 9 are listed on playtika. so you guys is have really had the midas touch, so to speak. how do you spot winners in the gaming space? >> so actually this is unbelievable number. we look and it's really hard to believe that nine comes of the top hundred are playtika games. actually, from these nine games, we made only two games in the beginning of 2011. and all the other games were acquired by our m&a division, and we did amazing acquisition. so actually not all of them were a hit. we have special technology that we established with special experience, and i think what we are looking for is for a good game, good product, good community, and we have have a good game to become a blockbuster.
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liz: many of your games have casino and card game themes, right in and as we start to see more states here in the u.s. legalize mobile gambling, what does that mean? because, you know, investors who are watching right now, right here on fox business are thinking, well, how does this company scale up? they may have made a boatload of money today on this ipo, but what are they going to do with it, and how do they scale up? answer that question, if you could. >> so first, thank you for this question because it's really important to explain the difference between what you said about the casino games -- our games when you come in and may our games -- play our games, it's actually -- we're different creatures, different things, and right now when we are focusing on acquiring more businesses in the future to do more aggressive m&a and to governor grow our --
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grow our revenue. strong m&a with technology. liz: can i just quickly ask you before we go, right now many casinos are either shuttered or very limited in space due to the pandemic. what happens to playtika when people start going back and these casinos open up once again? are they still going to be attached to their phones playing your games? how do you answer that question? >> as i said before, there's no connection between casinos and playtika's game. we were growing year after year before the pandemic. we've always been a cash flow positive company, always. so actually for us, yes, it was the pandemic, still the pandemic, it's a whole situation for the world, but it's not affecting our business from this side or from that side. liz: well, look at this stock. again, we've got about 41
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minutes left to trade, you're up 3%30.55. congratulations and please come back again, robert. it's great to have you and good luck. thank you so much. >> thank you so much. liz: you're welcome. ceo of playfika. cloudy day for disney, the house house can eling annual passes at its original theme park, anaheim, disneyland. raging covid case numbers in the state and, of course, lockdown restrictions leaving reopening timelines totally uncertain. but disneyland is still doing its part, launching a vaccination super-center in its parking lot earlier this week. shares back by 1 president. -- 1%. could joe biden's own party stand in the way of his big text spending plan? charlie breaks it next. with the closing bell ringing in 40 minutes, the dow down about 85 points, the russell down 24,
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♪ liz: you gotta look at tencent, pumping up the volume and the stock. shares of the chinese music streaming service adding rival lazy audio in a nearly all-cash deal. that level of tencent music is at $22, it's up 2%. it's -- i guess you could call it its cousin company, tencent holdings, is hitting an all-time high, 82.21, looking to administer paid users to its ranks. back across the pacific, spotify singing out of tune, sharings down 7% as the information reports aping is planning a -- apple is planning a podcast prescription service
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to rival spotify. plus, citi says the company's massive podcast deals including with joe rogan and kim kardashian have not boosted subscription numbers, at least not yet. president-elect joe biden hoping to unify democrats and republicans, but some on wall street are saying not so fast. charlie gasparino with more on that which is almost reminiscent of what donald trump faced when republicans didn't want to rubber stamp the $2,000 checks just a few months ago. >> that is true. and we didn't have really divided government, so you can imagine that now we do, even though kamala harris -- technically the vice president-elect -- will be the tie-breaker, you still have 50-50, and you have a very narrow majority for the democrats in the house meaning that people like joe manchin, some moderate democrats who are conservative democrats could have a major say in this. they're not going to be so, so
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fast to approve massive spending. at least that's what i'm getting from my wall street sources. and i'm getting this, liz, just so you know, from democratic wall street sources that talk to people in the biden administration and are conceding to them that the full monty may not come right away. here are some of the headlines we got, we have here. and then i want to get to fannie and freddie. you and i should take a victory lap on that because we've been way ahead on that story. the biden stimulus package could be delayed til march, we're hearing, if the senate takes up the impeachment. so if it takes up impeachment, expect this thing to come later x this stimulus package, obviously, is increases in pandemic relief, you know, maybe minimum wage increases, things of that nature. it's -- biden has proposed, believe, $1.9 trillion. the interesting thing is we're hearing that it could the be scaled back considerably, or they think it will be scaled
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back considerably when biden gets in a room with mitch mcconnell and joe manchin, the democratic senator from west virginia. he's a conservative democrat, and, you know, he'll put -- the betting is he's going to put a top to some of the grandiose plans. again, may not be huge increases in minimum wages, may not be the $1.9 maybe closer to 1.5 or $1 trillion. so that's what we're hearing, there's going to be scaled-back plans. plus, we're hearing infrastructure closer to the end of the year. so remember, divided government has consequence, this is one of the consequences that the biden administration is signaling to the wall street sources, these are good sources, you know? who knows what's going to happen when rubber meets the road. but you can already smell that there's compromise in the air, at least that's the word that i'm getting. and joe biden's a guy that doesn't mind compromise, so we know that based on his
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legislative record when he was in congress and also when he was the vice president for president obama. want to switch gears to fannie and freddie. we were yesterday reporting that "after the bell" the treasury department and the fhfa, mark ca labrie ya, federal housing finance administration, was going to do their last gasp reform of fannie and freddie. we signaled that it was going to be mostly guidelines about capital retention. they were not going to end conservatorship, they were not going to be something that would essentially boost shareholder value meaning people that bought the shares post its conservatorship were not going to be given a gift. and that's what happened last night. came across my iphone at about 6:00 -- liez. liz: yeah, mine too. >> clearly after the bell, and it said that. you know that the shareholders aren't happy about this based on the way the common stock is trading.
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it's below $2 a share right now. so what happens? big listing gets forced, if they really want to reform this, it gets left to the supreme court. finish the likelihood is that joe biden is not going to do any major form, they're just going to want to keep it. as long as he's not prevented by the supreme court, they will have a say in this, fannie and freddie will be likely as part of the federal government, you know, for some time. and it looks like, you know, the shareholders will not get what they wanted out of reform, and they're not going to get, you know, the sort of exchange rate and how much government owns of fannie and freddie post its bailout and its government conservatorship will not change. maybe not even there won't be an end to conservatorship for the considerable future, and most likely the conservative libertarian who runs the fhfa who's at least a nominal
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regulator -- he has to share that with the treasury department, janet yellen -- he'll probably be forced out. his term ends in 2024 technically, liz, but, you know, again, there's a supreme court case where they want to -- if it rules a certain way, the president can get rid of the fhfa chair. liz: right. >> so that's where we are right now. not a great day for taanny and freddie -- fannie and freddie shareholder, but i've been telling people for years, don't count on this. liz: yeah, be careful. you have. >> for a lot of reasons. back to you. liz: or just tell them you liked it at $2, you love it at $1.83. charlying thank you very much. you know, listen, everything's a casino on wall street, right? individual investing has taken a quantum leap in the past few years. instead of an entire share of something, today you can just buy a slice of stock. in the art world, for example, of investment we showed you how you can buy a piece of a banksy
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or a monet. but how about buying a floor or a slice of a skyscraper? why lex says right now during the pandemic this is the time to strike on december counted commercial real estate. the guy who runs it is with us coming up. and from dishwasher to ceo, cameron mitchell, founder and ceo of the cameron mitchell restaurants was just an 18-year-old who barely made it through high school n. my latest podcast episode, cameron reveals how as this restaurant dishwasher he made a goal list on paper and with nothing but sheer will completely changed the trajectory of his life. you've got to hear the secret of his turn-around success in the latest everyone talk toss liz podcast. closing bell ringing in 28 minutes. dow is still down about 126. and we are coming right back, don't go away. ♪ ♪ f (money manager) because our way works great for us!
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(naj) but not for your clients. that's why we're a fiduciary, obligated to put clients first. (money manager) so, what do you provide? cookie cutter portfolios? (naj) nope, we tailor portfolios to our client's needs. (money manager) but you do sell investments that earn you high commissions, right? (naj) we don't have those. (money manager) so what's in it for you? (naj) our fees are structured so we do better when you do better. at fisher investments we're clearly different.
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♪muck. liz: all right, perhaps the biggest casualty of the pandemic-induced work from home movement has got to be the commercial real estate market. according to cushman wakefield, from april through december a record or 103 million square feet of u.s. office space came back on the market. translation, empty with very few, if any, takers. as bankruptcies abound and the vaccination effort slowly gains speed, is now exactly the time to invest in commercial real estate before the rebound? you can't buy an entire building? how about a sliver of a skyscraper? lex is the fin-tech company with backing from both graycroft and thor equities, and it enables the retail investor to buy into specific pieces of commercial real estate by the slice, so to speak. joining us now is l everything x chairman craig hancock. craig, i think this idea is inspired and fascinating.
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the platform is not live yet, but you just took a big step this announcing nasdaq is going to power your trading platform. will you sort of be the robin hood of real estate where investors can buy a piece of property? what advantage does that give an investor? >> yeah. i think robin hood's not a terrible analogy. i mean, this is opening up the market to a whole new set of investors who have been traditionally not had great access to i'll call it the best deals x. so we think this is an unusual opportunity particularly given, as you say, in today's market. i'll give you the one thing, no one ever made a fortune shorting the new york city real estate market. so i think it's always a good time to invest, and i think there's an element of contrarianism just given all of the uncertainty out there, but i think for the individual investor this is going to be something that could really be a game-changer. and one to have --
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liz: [inaudible] >> so legacy is available -- liz: g . >> the web site is up and people can register and open their accounts and be on a waiting list for the investments. but lex available both to the accredited but also the non-accredited investor, and that's a big change. liz: what's the minimum investment? >> $250. so to a certain extent, that, you know, robin hood analogy is not a terrible one. i think it's pretty good, actually. so i think this is an opportunity, one of the greatest challenges in the real estate market and other alternative asset classes has always been liquidity. and these are, you know, real estate has always had the age-old problem of illiquidity, and lex is a solution for the liquidity issue. and along with liquidity, it fundamentally can change the return profile of what investors need because you can't get out, you need to get paid more for
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going long, as they would say. so once we have liquidity -- liz: let me just, let me just clarify for our viewers. so real estate investment trusts are basically a collection of real estate, and you get a very he was tiff dividend. -- dividend. we can put up sol of the biggest paying right now. why should i go with lex instead of investing in one of these reit? >> well, you can. maybe the analogy is people can invest in mutual funds, etfs, indexes, and buying into reit stocks, you do have a collection of assets. and this is direct investment. and, you know, our credo is we say we want to invest with atlas which is access, transparency, liquidity, alignment and simplicity. so it's a very simplified version of a single asset going public as opposed to a collection of assets. and then indirect ownership in
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reit investments. so they're not mutually exclusive for people who -- i'm sorry, go ahead. liz: i just want to take a live picture of the real estate skyline in manhattan right now. we've got cameras all over the place. and while it looks beautiful, there is some rot within it because we know that so many companies have sent all their workers home, and they've realized, you know what? we don't need to pay this much for, say, you know, 12 floors. we can get away with 2 floors. and so what makes people leave that were going to see this renaissance that would then really inflate these people's investments from where they start? >> well, i think that the psychology no one's going to be going back to, you know, to traditional office space, i'm not sure that's going to be long lasting once confidence returns, and, you know, the vaccine is are there. there's just something particularly the vibrancy of new
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york city, companies -- and you're starting to see this -- really want to have they are employees together. there's an energy, there's -- the great ideas come usually in the lunchroom at places like google, facebook. having proximity to your fellow workers is indispensable. so, you know, we have to wait and see. you may remember i was involved in the tribeca film festival back in 2001 -- liz: oh, yes. >> and -- and once we got people, the invitation and permission to come on the streets, it rebounded quicker than anybody could have ever imagined x. so, you know -- liz: you are -- yeah. >> yeah. liz: you're the cofounder of the tribeca film festival which was born out of 9/11 where you wanted to, as a cheer leader for manhattan, really bring back the crowds to that region of the city which had been so decimated and brought down with the tragedy of 9/11. and, by the way, i want to let our viewers know it'll be back
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in action in june, god willing. craig, thank you. >> all right, terrific. thank you. liz: lex, and get on the wait list. we'll let you know when it goes live. the platform, a slice of a skyscraper. it's a cool thought there. president-elect joe biden minutes away from laying out his plans to straighten out the covid-19 vaccination process, but there's already a company muscling to the forefront of booking your vaccination, and it's doing it for free. are hospitals the ones causing the bottleneck? with the closing bell ringing in 18 minutes and the dow down about 113 points, we are coming right back. don't go away, it's friday. ♪ ♪
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♪ liz: all right, breaking news, we have just gotten the shot in wilmington, delaware. at any moment, president-elect joe biden is expected to reveal his plans for administering the covid-19 vaccine to all americans. he's expected to talk about funding way more mobile vaccine sites and much more storage and just getting it going faster. but as we await his comments, one company's already jumped into the fray at the forefront, offering its covid-19 vaccine scheduler to health care organizations and hospitals across the nation. for free. zocdoc is helping patients find doctors and book the appointments to get vaccinated, and they have shifted their expertise to help fight the pandemic and speed up the coronavirus vaccination process. joining us now, the founder and ceo, dr. oliver karaz. doctor, great to have you. you've got to talk about how you plan to fix what is obviously a symptom and a situation that's all gummed up at the moment.
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>> well, thanks for having me, and, you know, we are really looking forward to using our expertise to help streamline the process of giving the covid vaccine vaccinations. it's really admirable the speed with which the scientists developed the vaccine, and what they deserve and we all deserve is a rollout that matches that achievement. the core reason is there are many elements we're doing for the first time, and we have to go through trial and error, but we need to actually use already-established best practices and knowledge for everything else. you know, we cannot have trial and error on everything. as it turns out, zocdoc unknowingly has been preparing for this moment for 13 years. the core of what we do, to simplify health care logistics so that doctors can focus on caring for patients. that's precisely what we're doing here and have already done
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quite successfully with one of our partners in new york. liz: okay. well, yes. your part was successful. mount sinai, you facilitated 100,000 people signing up and booking vaccination appointments. but then mount sinai canceled all a of them. the bronx had the same situation. so you did your part, but what's going on with hospitals that there's this bottleneck? >> so there's clearly multiple things that need to go right for a vaccination effort to work. one is having the vaccine, and my understanding is there was a change in allocations at mount sinai, so they didn't cancel all 100,000, but they canceled, you know, a number of them that were happening already next week. and that just shows that the system is complex enough that we take a bit of the table and
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maybe the schedule itself -- that wasn't the case. and i think we should reduce the complexity of the problem. our role at zocdoc is take one care of one of these things extremely well. clearly, my expectation that vaccine delivery logistics will smooth out over the coming weeks. liz: we're looking at president-elect biden, he's announced very ambitious plans. he's speaking about those plans right now. if you had his ear, where do we need the most money to start throwing some grease into the wheels of this to get it moving way more quickly? >> so i'm not sure that money is one of the core issues. there's one big question, supply of the vaccine, and that's something that we need to figure out, the logistics throughout the country and maybe money helps here. then there's the actual administration, and, you know,
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that seems to be well underway. our partners have proven that they can operationalize them. and the scheduling which is also, i think, a proven element of it. the next bet i think that it's going to be very crucial particularly once we work through the initial wave of patients that really want the vaccine is that we actually attribute the distribution. what i mean is being sure that individual practices, you know, doctors that have longstanding relationship with these patients and have their trust, are um powered to -- empowered to give these vaccines. a certain part of the population will want to hear from their own doctors whether it's okay to get the shot. liz: yeah. i agree with that, i understand. but, you know, thank you for being that -- [laughter] sort of the public, the private sector, rather, that is helping to jump in and do this. dr. oliver kharraz oz zocdoc. we're monitoring what joe biden
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liz: breaking news president-elect joe biden revealing his plans for speeding up the covid-19 vaccination process just said the health of the entire nation depends on it, he said number one he will work with the states to start opening many, many more vaccination sites and open them up so we can get more people more quickly to be vaccinated. he also said the process and implementation has been way too rigid and confusing and there are millions of doses that are languishing on shelves and that
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is something that he will absolutely move to change he wants to open up the vaccine vaccine tomore troops and make t clarify there. the biden transition team says little encouraged vaccination of all people 65 a and older and frontline workers. they said the administration will start specifically community vaccination centers not just give the money to the state they will be supported by federal emergency management fema, biden will refund state and local national guard associated with the vaccination transition and as more headlines come out, we will bring them to you. in the meantime we have a mixed picture for the vaccine makers, let's see where brett mcmillan think she should be invested a commonwealth financial investor, 100 billion and are in management. obviously the pandemic has changed the vision of a lot of investing you look at specific
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investors right now, tell me what do you think. >> you need to be betting that we will get the virus under control. once we get the virus under control, we see what happens with the economy, and rebounds. right now i think investors should be looking at what happens in the spring, in the summer maybe in the fall if were not lucky, people will want to go spend, people are buying homes because they want to change, when you look at the demographic when millennial's, that's the real thing that takes us through the end of this year end into next year. connell: what you mean, millennial's posting your portfolio, how so. you've got to go to the targeted areas where you think will see a benefit of millennial's pouring in correct? >> i see housing, we see the already, the millennial's are hitting 40 right now and are
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hitting their peak earning and spending years, we saw housing boom with the baby boomers, will see the same thing, the housing need furniture and furnishings that will be a great place to be for when you look at immediate things, you get to stimulus, that is a bank and financial industry supporting act. that is good to go to paper mortgages, paper loans they will benefit directly and when we replay financials will benefit from the rising interest rates, all is that played to the end of the millennial, that's what i think. liz: it is great to have you, anything keeping you beside the pandemic up at night when it comes to the investments that you currently have, is there rotation that you are currently looking at? >> the thing that worries me right now is are we actually going to see the recovery that were betting on, we see consumer discretionary, people have been spending but that is actually pulling back with all the terrible resales data today, can we get there? i'm watching consumer confidence very closely, that is going to tell us whether were going to be
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okay or not. right now the consumer facing sectors are at most risk. connell: great to have you, brad mcmillan commented that the university of michigan consumer sentiment came in shy of estimates but we do have read on the screen off the lot for the session, folks we will see you monday, please join us again on "the claman countdown". connell: we have word about the true price tag and stocks have been following this afternoon that president-elect joe biden came out last night and unveiled a 2 trillion-dollar stimulus plan, that is some concern, we will be talking about this and tax hikes to pay for all of that, the president talking about themes right now, the market is down at the close, we may be off the lows but were still down 177 on the dow, the s&p 500 closing lower on the day down by 27 and the nasdaq down nearly 1% of 114-point drop.
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