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tv   Cavuto Coast to Coast  FOX Business  February 2, 2021 12:00pm-2:00pm EST

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bounced back up to 130 after robinhood lifted restrictions up to 100 shares for each trader. stuart: brokers have become the new regulators. susan, i should point out amazon, google report after the close of trading today. straight up. time is up for me. neil, it is yours. neil: stuart, thank you very much for that. we're closely following close what happened to gamestop. it has ad three stops. new york stock exchange halting it waiting for additional information. from its height it slid 2billion dollars in market value. made up five billion of that. very confusing. the stock at $114.58 a share. monitoring that closely. quick thanks toe jackie to jacke
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deangelis for all her help yesterday. the drama continues with the ancillary players caught up in the shortwave, buying, selling, back and forth between the squeezers, those getting squeezed themselves. buffeting issues like gamestop but amc, metal silver, various trust and funds that attach themselves to that, like the i-share silver trust, stocks like express, nokia, you heard the names. they are all under the gun today. charlie gasparino will join us toe talk about a big bill bearal nair in the middle of all of that has has done something. we'll tell you how this will affect the market going forward. kristina partsinevelos in new york city. she has to deal with the snow and the cold. at the same time, deal with the fallout own the gamestop. suddenly cold shoulder to these stocks. this looks like a background of
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looks and library. i have it on the highest authority it is actually a snowy backdrop to gamestop, kristina. reporter: it is so, it is so perfect, neil. right now the fact, not perfect. as a reporter this is incredibly exciting. the trade of the decade but you have the retail investors, retail frenzy starting to show a little bit of fatigue. i say that because of the darling high flying stocks caught in the middle between the reddit armchair investors and wall street are starting to retreat. let's take a look first at gamestop because that is where it gets a little bit confusing. yes, it has fallen5% from the most recent high of -- 75% of high of 400 bucks. 11:00 a.m., that is when robinhood eased restrictions on a lot of high flying stocks. a highly volatile stocks. specifically for gamestop you could buy maximum of 100 shares. when that happened at
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11:10 a.m., the stock climbed higher so much it was halted at 11:27. it was halted again. there were at least three halts this morning. there was another one at 9:44 a.m. it is incredibly volatile. not only gamestop, a lot of other darling stocks caught in the middle of this saga they're retreating and see blackberry, nokia. they're falling quite a bit. part of this might also be because short interest in some of these stocks has decreased. short interest according to one research report is 36% for gamestop. this could mean bearish investors seemed to cover those short positions so there is less of a short squeeze. online, i was looking at people are sharing their losses, what a lot of wall street investors were warning about. including barstool's dave portnoy. he said he lost $700,000 in a
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tweet. he attacked robinhood. attacked robinhood because this is free trading app a lot of investors use. they put restrictions in play. because of though restrictions that have been since been eased over the course of the past few days washington lawmakers will be looking into this. you have on february 18th, robinhood ceo could face the wrath of house representatives because he would be in the hot seat and explain any dialogue that went on between robinhood and hedge funds including citadel. this story is not ending anytime soon. with robinhood, the latest raising $2.4 billion from investors to help with the stock frenzy at the moment. looks like the ipo scheduled for may be more crucial than ever. but even that too could be put on the sidelines. neil, back to you, not from the snow but clearly in front of my bookcase. neil: i'm glad.
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you were going to get frostbite out there. >> thank you. neil: charlie gasparino has been like a dog on a bone with this story. latest revelation got people's attention. the by the way gamestop shares resumed trading that was the third halt of the day. this comes from the new york stock exchange. charlie gasparino, following a key player in the middle of all of this, steve cohen. he runs a very big hedge fund that is key to all this stuff. thing about hedge funds they're not normally open to the public. they're closed. a very elite group benefiting from that. the fact he opened it up, charlie he needed to. what is the latest? >> i mean, that is the general feeling on the street. i want to make one point. if the hearings come out focused on why, why robinhood had to cut off those trading in those stocks, those hearings will last about 15 minutes it was a pretty they couldn't make their capital
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requirements for settlement of trades, period, end of story. no discussions with hedge funds. it is an absurd meme. that is washington for you. what we've got here now is another major player impacted by this, steve cohen, who runs the big hedge fund point 72. steve cohen one of the owners of the mets. one of the best investors in the world, traders in the world. he, generally his fund is generally open. manages his own enormous wealth and very rich people. he is now opening. the timing is fascinating, to brokers at least at morgan stanley and others. morgan stanley is a brokerage firm. it has about 16,000 brokerages. it is the largest brokerage firm. deals mainly with smaller investors. some are very rich. it is more retail, not as retail as robinhood but retail. sources telling the fox business network, amid him taking losses in melvin, should point out
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steve cohen had a previous investment in melvin, not just bailout money. he lost money in medical vain. amid that he is now looking for more capital. he is going to morgan stanley. at least one firm, morgan stanley probably other people. if you talk to cohen's people, there is no coincidence. guess what, it's a good time to take advantage of the situation. steve cohen always makes money when the going gets tough. that is true. talk to others timing is interested. he went to morgan stanley on tuesday. on monday he added more money to melvin $250 million. n january, this month he is down 10, 15%. the reason why he has exposure to melvin as you know is down 53% because of the short squeeze led by reddit robinhood traders.
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point 72 is having a meeting with morgan stanleys fund advisors where advisors can ask about the investment. from what i understand, sources tell me a 100 million-dollar sliver they opened. it is good until march. one other thing, neil, people are forgetting gamestop will have a earnings call by the end of march, march 25th. it will be fascinating to hear their earnings. some of this stuff will play out. not only will we talk about stock there, their stock's wild ride, reddit traders talking about it, it is your obligation to make money on the short squeeze against the melvins of the world, it is our obligation to go in there to buy gamestop products. we'll see if that impacted earnings. neil, back to you. neil: you touched on it, robinhood raised limit on restrictioned stocks you can buy, not only gamestop they
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increased it to 100 shares. if they were to start doing that, expand your ability to buy or presumably sell as well, the shares, what can we expect? i could imagine a number of retail investors if given the opportunity to get out or getting nervous they would. they would all have to go through the same door. how would that, how would that go? >> probably not going to be pretty. listen this, is -- if you look at this whole situation, melvin probably made a huge mistake shorting at the levels it shorted at. that is a technical mistake. if you look at their research though, it was pretty, pretty solid. explained why gamestop was not doing well. why people weren't going to malls to buy its products. it was pretty much transparent. the bull case for gamestop at $300 a share is simply insane, okay? it is, i'm not saying this is a zero stock. i'm just saying, you know, why is it a 300-dollar stock.
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why hasn't management, this is what i don't get, why hasn't management come out and said what is going on here? why don't they come out here, here is why we think we should be valued. it is very strange. you know, it is probably lured a lot of unsuspecting people into this. you throw in that the weird conspiracy politicians and rush limbaughs of the world that robinhood is in concert with hedge funds paying them own the side, logically, we don't have enough time to go through it, it makes zero sense. it is leading investors astray. it is doing a real disservice to the investing public to turn this weird, market glitch, which it kind of is based on a lot of different factors including cheap money into a conspiracy theory. it reminds me of some of the stuff involving election fraud to be honest with you, there are parallels on a lot of levels including the social media
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levels, people willing to believe conspiracy theories that are undercut by logic, reason and actually facts. neil: yeah. they're easy to digest. people like to assign -- >> they are. neil: charlie, thank you very much, my friend. great reporting on this i was telling you a little bit before of some of the ancillary shares caught up in the short squeeze and buying that followed. issues like gamestop and silver, amc, nokia, naked brands, koss, blackberry, we'll rifle through the other stocks where it spawned a new cottage industry, people look at stocks shorted by big funds, and a lot of investors on robinhoods and other venues target them. that could be a rolling cycle that continues. the impact of all of that with danielle dimartino booth, the former dallas fed advisor, brian
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brenberg, kings college professor of economics. brian, begin with you, end with you, the notion this ain't over. it will be always a battle between those targeting a stock to tumble and shows trying to reverse that very move but the theme in washington no doubt when hearings start out on this, the little guy is getting screwed. that is what will be the prevailing theme. do you think, in other words, that is traction. what do you think? >> yeah. it does have traction. that is the theme going to be at the center of what goes on in washington. we have a battle now for a while between the short sellers and those who want to challenge that frankly that's good. that is what a market should do to create that battle. we'll see who comes out on top over the long term but as this moves to washington i think the real question is, what is going to be the issue at the center of any hearings or investigations? is it really going to be trying
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to figure out what happened with robinhood and why it happened and if anything needs to be done about it or will it be the lot of politicians in d.c. go after, how we get involved in regulating finance, regulating stock market and regulating banking. if you look at bernie sanders tweeting over the last couple days, saying the wall street business model is fraud. that is not a laser precision investigation into robinhood. that is an overarching i want to fundamentally change finance in this country. if that is where the hearings go, i totally agree with charlie it, will be counterproductive at the end of the day. it will raise the cost of trading t will make it harder for the little guy to invest. if it stays focused it could be interesting. it will be an education for people to learn what is going on with robinhood, what's their business model and why did things play out the way they
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did. neil: if we can step way back, danielle, you've been very good at this talking about the very low interest right environment we have, almost feeds this speculative behavior. if you get zero percent on your money, you get a little more i don't know, less risk-averse. this is i is illustrative of th. what dowhat do you think? >> i think it is. dave portnoy has become an icon, cult hero, so many people on the reddit chat board, what have you, so many robinhood traders. his initial calling card was don't fight the fed. it is simply too easy to make money in the stock market so why aren't you doing it? like a pied piper he has droves of people following him, there are other personalities who have grown around this theme that the little guy can do just as well
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as the big guy. again the premise for all of this as long as you're not fighting the fed the fed will keep the spigot open. they will keep the financial system overly abundant with liquidity, with money always looking for a home. that is why we've seen for some time now, the beginning of this was really in the massive runup in the technology names. then tesla, which became its own cult. a lot of the same type of parallel narratives that you see a, lot of defensiveness and aggressiveness you see on social media, you read that same type of tone when it was, when it was tesla coming up, it was theoretically valued at more than every sting gell carmaker on the planet. again, this all has it groundings in, i think, federal reserve officials should at least tacitly acknowledge this, this all has foundings in the fed being too low too long and keeping monetary policy overly easy. neil: all right. we'll watch it closely. you guys coming back in the next
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segment. so don't wander too, too far. to the point they both touched on, just because interest rates are very, very low, doesn't mean demand for these securities is very, very low. we are looking at ten-year note yielding 1.1%. i should point out, ample has a huge private debt offering scheduled to go, $14 billion worth. the company characterized a blizzard of demand for that debt deal, a blizzard of demand which is, what we're also talking about in the next segment. a real blizzard. that isn't ending a blizzard of demand, the money reference. the actual blizzard. weather reference joined together on basic cable. why? because we love you. ♪.
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although not as aggressively but it will be one for at least the top five, top 10 record books. how they establish that, by wind, combination, chill factor, how much snow, how hard for people to get around, all sorts of things to get around on that. bryan llenas on what looking like a ease out. there is more could be coming next weekend. so i guess, what is the latest? reporter: yeah, neil. right now we're talking about snow continuing into tonight, into tomorrow morning. that means this was about a 48-hour snowstorm which is pretty rare. you see some of those types of storms every five to 10 years. here in new york city, we're talking about 17.2-inches of snow in central park. that is about a top 10 to 15 storm. we'll see how it shakes out when all said and done. at its worse the snow was bringing one to three inches of snow per hour. there are parts of new jersey
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with two feet of snow. we were talking about 30 to 350 mile-an-hour wind gusts yesterday we were all experiencing. here are some of the highest snowfall totals in the state. in northern new jersey they reported 33.2-inches of snow. in pennsylvania, that is 28 inches. in fish kill, new york, 25 inches. in massachusetts, 21-inches. danbury, connecticut, 19-inches. those are some of the highest totals in those state. speaking of connecticut, look at the video. in stanford, connecticut, firefighters rescuing a man and a woman after their truck became submerged in icy water. rescue crews found the woman standing on the bed of a sinking truck. the man was trapped inside. firefighters swam 40 feet out there in the icy waters to save them, using 100-foot ladder over the icy water.
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there was flooding. they bring about coastal flooding. we saw that along the jersey shore. several inches of ice at this water made it impassable in sea island city, in the jersey shore. this obviously was not just a snow event. back here in new york, talking about airports finally reopening, laguardia announced that flights started to come out of there again. out of jfk, laguardia, new york, 43% of their flights being canceled thus far because of this event. vaccinations that were canceled over the last two days will begin again tomorrow in new york city. obviously all eyes on that as we try to, well, make some, make some progress on that end which has been a slow trudge. neil? neil: yeah the reverberations from this are stunning. thank you very much, bryan llenas in the middle of all of that. we should add here, brian was good spelling out the new york metropolitan area the effect of
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canceled flights, 597 flights across the country have been canceled already today on top of the better than 1700 canceled yesterday. that is type of economic impact to talk about. when people look at storms and the like, they say whatever the hit is, it is made up for when people are able to venture out and get to stores and flying again but there is a near hit in the near term. how big of a hit we're looking at, let's go to danielle dimartino booth and professor brian brenberg. brian, it is easy to say obvious, people sheltering at home, obviously will have economic impact on all of this. the longer it drags on, punctuated by more shutdowns we could see as the winner goes on, what would impact be then? >> if we're just talking about storm here, i'm in the camp of people who say this obviously be made up down the road.
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think about airline executives for a second, they're pining for the days when weather disruptions were the biggest headache they had to deal with in a quarter. neil: yes. >> i see this evening out quite a bit. i will say this, if i'm an airline executive today, one of the things i'm excited about in the midst of all of this storm, the fact you have the congressional budget office saying the economy is poised to grow at nearly 4%. that is the kind of news airlines want to see. there is a strong correlation between gdp growth and traffic picking up again. i think airlines know how to deal with weather disruptions. they have been doing it a long time. pandemics are another issue. when they see the growth projections up, they think business travel, maybe leisure travel comes back sooner than everyone is saying. neil: to that cbo forecast, danielle, i believe they were looking at the uptick without stimulus. that would be even if joe biden didn't get another penny of stimulus through. what did you make of that? >> well, you neil, have to bear
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in mind what you just described is pure upside. in fact i'm pleased to report that yelp, been following the small business sector has seen a notable increase in new small businesses being formed. so a lot of the casualties of the pandemic involved true entrepreneurs and great business people. looks like they're coming around opening up new businesses in wake of all of this. that is unmitigated good news. my concern the meteorologists talk about the economic impact lasting through the middle of february. this is fairly unusually cold weather to see. we'll see it back up all the way through the midwest. like i said, continue for another good 10, 12 days. so we will have to see what impact this might have on companies that were already down on their luck because starting points do indeed matter when types of events like this occur. but again, to your point, if biden manages to get more stimulus spending out there,
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then it is upside on top of that 4% gdp forecast. neil: brian, interest rates are backing up a little bit. we're at 1.11%. i always hasten to add, backing up is in the eye of the beholder obviously but there are a lot of people looking at this as well as the uptick in oil prices as maybe a preview of competition for stocks or how would you look at it? >> well it would be nice to have some competition for stocks frankly when we look what has been happening over the past few days. neil: right. >> the signal there is a lot of money looking for return and can't find it anywhere. i do think the interest rate story is an important one this year especially if we get -- look, i don't know if we get the $1.9 million stimulus. i don't think the economy needs it on top of fed easy money. you're seeing signs and projections inflation become as real issue in this coming year. you know, i think that is dangerous for an economy that has gotten used to low interest
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rates and low inflation for a very long time. it is going to be tough to adjust to a period where that becomes an issue. i think too few eyes are focused on that right now. i think the congressional budget office projection going back to that was one of the real signs that we should be thinking about upside more than just downside. then we can start thinking about a full set of issues, including what happens to the prices of things, what happens to innation and how people will adjust to that. that is a real issue this year. neil: danielle, do you see the possibility that rates start to continue to move forward here? between the stimulus plan whether it materializes to the nearly two trillion joe biden wants but all this, you know, pickup in activity, as opposed scaling back of virus worries, that it is real? that rates, not getting crazy worrisome, they will back up? >> you know, neil, the possibility is distinct especially in the intermediate
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term. not too many people paid attention to the fact that chinese officials allowed weaker data to be reported over the weaken and that is indicative of the slowdown there, the quiet shutdown in china and u.s. manufacturers are already choking on some of the highest input prices. we had data out yesterday that showed input prices at the highest level since 2009. so you could truly start to see higher inflation prints especially because you're coming off these very, very, low 2020 levels from when the pandemic initially shot the u.s. economy. you tack on even more supply chain disruptions as it is harder to get inputs out of china. you have the possibility for some pretty strong prints that i don't think the market necessarily has priced in. neil: guys, i have want to thank you both very, very much. good read on all of the things. the dow up bp 578 points right now. this on the same day we're hearing that president biden has three more executive orders and actions to add to his better
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than three dozen in this early part of his presidency. others eventually try to catch up. he is doing it all in one fell swoop, so it seems. back after this. d? i mean it... uh-oh, sorry... oh... what? i'm an emu! no, buddy! only pay for what you need. ♪ liberty, liberty, liberty, liberty. ♪ you're clearly someone who takes care of yourself. so why wait to screen for colon cancer? because when caught in early stages, it's more treatable. i'm cologuard. i'm noninvasive and detect altered dna in your stool to find 92% of colon cancers even in early stages. tell me more. it's for people 45 plus at average risk
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♪. neil: all right. it will be two weeks tomorrow that joe biden has been president of the united states. in that span of time dozens of executive orders and actions and memoranda including three more today that will deal with immigration. blake burman with more from the white house on what we could be looking at, hey, blake. >> three more executive orders from the president laterth afternoon. here is how they break down according to biden administration officials what the white house put out already. one of the executive orders, for example, creating a task force focused on reuniting families who were separated at the border with their children by
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administration officials. they say the biggest challenge of the tack force identifying kids that have been separated. another executive order will call for review of the mpp, the migrant protocols program. that is known as remain in mexico policy where those looking to enter the u.s. of the trump administration had to stay in mexico while the process is playing out. actions will insure asylum-seekers those from central america have legal avenues to come to the u.s. the executive order will task force on new americans, essentially looking at trump immigration policies, whether or not they are consistent with how the current administration views things. here is what one senior administration official said of executive orders in lead-up to all of this. quote, president biden has been very clear about restoring passion and order to our immigration system and correcting divisive, inhumane and immoral policies for the last four years. however former acting customs and border protection head, mark
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morgan vehemently disagrees with the order in a statement, with another stroke of the pen biden is doubling on on open border trait gist, creating illegal migration and creating the next crisis to reach our border. we'll hear from press secretary jen psaki in hour's time. president biden will sign the executive orders later this afternoon. neil? neil: they're piling up, my friend. blake burman thank you very much for that. forgive my next guest. she is not really focusing on today's executive orders. that big one, the president signed to shut down the keystone pipeline is the one that is still reverberating with her today. lori cox is owner of a mineral bath store. this is in south dakota. lori, you were directly hit by this closure here because that is your business, that is your lifeline. >> yes, myself and other business owners. yes. neil: sure. how are you dealing with this
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today? what's the latest? i know there have been a great deal of layoffs already announced as a result of this decision. a lot of people did know this day was coming, that joe biden promised this day would be coming but the impact is still pretty serious, huh? >> it is very serious, still very shocking. you know, i guess maybe i was a little naive, oh, he can't shut down a project that already started. how could they shut down a project already started? our koa invested a lot of money getting hookups so that workers could stay there over the winter. we have a lot of other businesses around this area. a void has been left in our communities because of this. neil: i'm not at all surprised. laurie, a lot of those workers were using your facility, hotel, everything else. have they since left? do they have work to finish up or no, that they're done?
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>> i do not have any that are still here. the ones that were with me, basically came back we're done, that's it. we're out of here. yes the workers that were staying here at my hotel have all left. i have heard there are still one or two are here taking, looking at the interests of the contractors and tc energy. but that is just, i don't know for sure but that is what i have heard, there are still a couple in the area. neil: what are you going to do, laurie? >> i will do the best that i can. i'm going to refocus on marketing. we've got valentine's day coming up and, just do the best that i can. neil: you're in a beautiful neck of the woods. i know it is energy dependent as it is. >> yes. neil: how do you pivot now? what do you offer? you know, whether you're online
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or whatever. i asked this of other businesses in other areas affected by all of this, they say they won't pivot. it is hard to pivot. what do you do? >> well i have the advantage of the hotel that i own now and operate is a historic hotel. we've been in operation since 1939 and we do have our geothermal waters, so we have two plunges which we've had generational patrons come. so i man on kind of focusing more on finding massage therapists and maybe expanding the spa instead of, well not, maybe in addition to the hotels. maybe looking forward to more of a respite where people could come for weeks to actually get the full effects of the healing waters. neil: that sounds very promising. if anyone can pull this out, make something of a bad situation laurie, i'm sure you
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can. keep us posted. we would love to have you back to see how things are going. >> thank you. neil: laurie cox, in the middle of all of this. we talk about collateral damage of these things when they shut down a pipeline. she is a perfect example of the collateral damage. she is not in the energy business. she catered to it. now there is no energy business. we have a lot more coming up including more on the gamestop drama. it almost sounds like a movie, doesn't it? pretty soon it will be. ♪ for some of us, our daily journey is a short one when you drive less, you pay less with pay per mile insurance from allstate you've never been in better hands allstate click or call for a quote today
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♪. you know what, i'm pissed off, american people getting screwed bit big banks. i'm getting madder and madder. >> unbelievable. >> then this guy walks into my
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office and says -- >> there is some shady stuff going down. neil: all right. you remember the big short? how about gamestop the movie. it could happen. mgm is looking to make a movie based on the drama playing out as we speak. gerri willis has more. gerri? reporter: neil, that's right. there are actually two possible movies. hollywood all over this. the folks in the lead here, netflix, believe it or not, they're enlisting "the hurt locker" screenwriter and oscar winner mark bold. a big name in hollywood. and noah sentino. the star of "all the boys i loved before." that was a big netflix vehicle. noah will not play one of the regulators but one of the traders. one other is scott galloway, nyu
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professor. said to be a possible consultant on this project. mgm, they want to do something too, they want a gamestop movie. they're working on yet to be written book by ben mezric. you may know him, the book, that the movie, the social network was based on. that was the origin story for facebook. they're in the game too, but a little behind the curve. i am hearing i there might be documents too. wall street's biggest hit, make good money not as good as spider-man. "the wolf of wall street" made 192 million. "the big short." 193 million. my favorite, "trading places." 93 million. the big banks bankrolled huge critiques industry. jpmorgan chase, comerica, they have long lent to the industry. bank of america, financed hundreds of films over the years including ones you know like
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"west side story" and in b-of-a's charlotte headquarters, they have on display, apparently, cecil b. demille's original camera. how cool is that. looks like we'll have yet another hollywood, slash, streaming movie. i guess we don't have hollywood anymore. we have streaming movies, right? neil: streaming in real time. this is happening as we speak. gerri, thank you very, very much for that. reporter: that's right. neil: you've been hear a lot about snowstorms in the northeast. a lot of you are planning to fly out today or hope to after so many cancellations yesterday or today. word of warning, better bring a mask. it is now the rule. it is demanded. you will be fined if you dare argue after this. ♪.
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♪. neil: all right. think about when you three you always have to wear masks. that is sort of unstated policy. a cdc direct edict, taking
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transportation of any sort, not wearing a mask, you can be fined. they don't know if anyone yet has been fined this is the first day they're instituting all of this. edward lawrence with the latest from reagan international airport. hey, edward, what is it looking like there? reporter: neil, not quite as busy here, if you don't wear a mask you will not get on the plane. you will not be able to go through the tsa checkpoint there. tsa made it a recommendation. now it is mandated, even though many airports mandated the mask to be used here. tsa spokesperson gave us a statement, nodding to the fact that people are already wearing masks but also saying this, he says, this federal requirement reinforces these efforts or those efforts and passengers without a mask may be denied entry boarding or continued transport. if there is a problem, the tsa will call airport police to handle it. there is not as many people around the airports today, snowing here in d.c., the vaccine, the coronavirus is out.
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as the vaccine is rolled out, more people are expected to fly, a chief white house covid advisor says that masks do work. >> this is a very meaningful step. also a patriotic one that improves safety, and demonstrates respect for those around us. >> this mandate not only affects airplanes, also trains and buses. now most travelers, again we're were already wearing masks. listen. >> i don't. i don't think the government should have to mandate. i don't think they should have to mandate it. businesses, sure. because that is their, that is their income. and if they mandate it, and you don't want to follow it, don't go shopping there. reporter: there are exceptions to the mask rule. you have can take your mask off to eat. but then you have to put it back on f you're in our own car with yourself or family or truck driver by yourself you can take your mask off in the car.
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back to you, neil. neil: that is good to know. they will let you take it off in the car. edward lawrence, thank you on all of that here. we're still following a runup in the markets right now. this is maybe sort of returning to stability kind of thing. momentum has been favoring all groups right now, save a lot of these stocks that were in the middle of this short squeeze right now, but a whole host of them beginning with gamestop under you know, buy and sell on and then off trading and then halted trading. they are taking it on the chin. they go way beyond gamestop to the likes of amc, express, nokia, blackberry, naked brands, koss, silver and some etfs that have anything to do with silver like the i-share silver trust. it too taking it on the chin. we have a lot more coming up. ♪
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amc and expressive nokia and blackberry they are having a day but maybe because the other bigger players are not and a lot of people are very confident about amazon and earnings "after the bell" that they refocused on the big boys and ignoring the concern right now that some of the up and comers that were squeezing the short squeeze are now themselves getting squeeze, jackie deangelis following all of the, she joins me out of new york with more. >> good afternoon, gamestop is the story of the day, they shared down a little less than 50% dipping at one point in the session at $100 a share the selling started yesterday's trading restrictions kept limits on how much they could buy on certain platforms like robinhood. robinhood has raised the trading
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limits that's why it's rebounding on gamestop, amc, express and naked brands there allowing investors to buy 100 shares of gme one stock with high volatility halted several times in the session, robinhood says those limits are not meant to restrict individuals but the company needed them to secure backing that it needed to clear the trade. what is interesting that this is a trade on the fundamental and they wanted to hold it long term they would simply be unchanged but since it was a specular play playing on the short squeeze there's not a lot of options out there but to sell, according to a wall street expert, gamestop (doors box. >> not only people that are actively participating outside politicians and business, hollywood and everyone is chiming in not only in the u.s. but worldwide i think there's a lot of sentiment there that have been picked up for a while that is just touching the surface.
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>> fascinating to watch, big tech has been driving the rally and amazon will reported earnings "after the bell". amazon's ultimate pandemic serving with items, shares are up 65% in the last year alone in the strength and the stock is expected to continue, the company has a retail arm and amazon web services where competes with marker soft and google cloud, alphabet as you said reporting "after the bell" and cloud component is going to be in the spotlight because the company is going to provide a detailed breakdown for the division revenue for the first time ever, tesla recalling cars 134,000 plus model s vehicles and model x with touch screen display issues this coming after the trap traffic administration asked them to call 158,000 on in re 13th. also due to safety issues but this volunteer recall is
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voluntary. neil: thank you very much jackie deangelis following these developments, were following development to capitol hill where the biden administration is still working on a plan to get the $1.9 trillion stimulus plan going after meeting with ten prominent republicans who signed on to a much less expensive plan, we discussed and right now the chad pergram with the latest. >> good afternoon president biden the secretary of the treasury janet yelena talking with senate democrats about the coronavirus bill as we speak this is a virtual conference call right now, the meeting at the white house between the president and republican senators last night was related to touch gloves, president biden wants to show he is willing to work with the other side and he must especially since he has narrow majority in the house and senate. >> i think we had a president that understands that he has a background with the senate so i
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came away thinking there is hope to try to find something in the future but that's not going to be easy. >> the major divides between the parties, the president is pushing $1.9 trillion in spending, the gop package clocks in at $618 billion, money for state and local governments remains a problem in democrats face pressure from the left to go big. >> the only thing we cannot accept is a package that is too small or too narrow to pull our country out of this emergency. we cannot repeat the mistake of 2009. and we must act very soon to get this assistance to those so desperately in need. >> schumer is alluding to the $700 billion stimulus package in 2009 after the 2008 financial collapse, democrats say they regret not spending more back then. neil: cad program thank you very much. in the meantime if you found
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wall street's reaction, the party might not come up with bipartisan and is on the side of the bigger package from democrats 1.9 trillion, that tells you all you need to know about these markets and watching the stimulus. no matter the form and apparently no matter the size as long as it's really big. jonathan hoenig, fox news contributor, for susan li as well, she is nonstop. susan let me get your sense of what the markets are saying, they seem to like the idea if joe biden has to go alone with democrats so be it because that guarantees a far more generous and pricey stimulus measure that seems to be what they're saying. >> 1.9 trillion would be fantastic, 600 billion not bad, i think the stock market is expecting something along the line to come out of washington,
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d.c. and i was speaking to tim cook, apple ceo on their earnings last week and i asked them what about a round of stimulus and he said he would love to see another round of stimulus checks but once they get to the pandemic he sees the u.s. economy coming out and that's the important part look at coping contained in them will get some spending whether to check, infrastructure and that is all good. neil: what impact would that have on the economy, as you know the congressional budget office that surmise even without added stimulus the economy will do just fine this year, where are you on this? >> were already seeing the effect of the economy some of the stimulus as susan alluded to it showing up in the prices of the high-tech companies in anticipation of people buying apple, iphone, et cetera it showing up in the debt market in the interest rates rise especially on the long and as more and more borrowing is expected, back in 2008 we thought 700 billion was a lot
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that is trump change now, it's amazing tech seems like a safe haven 80% of stocks are about 200 day moving average, we have hundred 52 week highs only three to be close, the fed remains higher with all the interference in washington and the promises new spending from the biden of administration people want to own stocks. neil: what is weird about this, susan you been following the gamestop drama people were getting concerned with a herd for radian the hedge fund sure playing this market was in need of a financial i would call a rescue as much as a helpline to an have - $3 billion in account more than that, i'm wondering that gamestop is down about $28 billion from its highs, it is not rattling the markets what do you think. >> it is not systemic, when you
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talk to the investment banks and the brokerages they try to handicap this over the weekend how big of a problem would be with gamestop, nokia and blackberry and analysts a 100 billion-dollar problem, 100 billion out of $45 trillion stock market j.p. morgan saying by the debt because stimulus coming from the consumer recovering after covid, this is a tiny corner of the stock market so it's not going to be a big problem in earnings were focusing with 100 companies reporting they will lead us into the next quarter and beyond this year. neil: jonathan you are a savvy trader, i'm wondering how you play a gamestop, if you make the argument that the shorts are wrong and it's worth more than e than a few months ago but certainly not over $300 in the share. how do you play that or is this too radioactive, maybe the
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entire shortage sector and the ancillary stocks that even part of that mix. >> however, you play long or short you want to play for a bigger move, the shorter the time arises the harder it is to make money in the market, look at silver today that was going to be the next gamestop they tried to squeeze it on silver and it's come back down to where it was before. attempted day trade and get in and get out, very difficult way to make money, if you're in it and the people who made money on the way up in gamestop, they held it for a couple of days or couple of weeks, you want to play for the big moves, getting in before varney and getting out before cavuto is a tough way to make a market. neil: it is a tough way to go. when i look at the i always wondered about what this has spawned, if you think about it there is a group of 50 most widely held shortage stocks,
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forget their exact name, they even in enormous run of volume for a while and price that i always think it's part of the investor, i want the next tesla, amazon, undervalued stock and this is the way i'm going to go about doing it, whether the dust settles on blackberry and some of these others this is going to remain in effect that the price for the overall market gets those trying to repeat the tesla and amazon performance and this other stuff they will keep doing this, that is not going away. >> tesla was and probably still is the most short stock in america, apple not far behind these are monstrous behemoths, apple were to trillion dollars in tesla worth $800 billion but in the case of china find the next tesla tesla has a business model that is growing we are
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looking at multitrillion dollar electric market in the future especially with the go green biden policies whereas gamestop are you going to walk into a brick-and-mortar store and buy your next game cartridge, that is 1990s people don't do that anymore, people download games and they play online and if you want to look at the fundamentals you have to look at blackberry, are people using blackberries or the cost of the earphones there's a? over these actual businesses despite the fact the short squeezes. neil: teenage sons there all in a different world. the market itself, rating to see how amazon has been doing for all of this, hi estimate 118 - 19 billion-dollar revenue quarter following the steps of apple, the big guns, the apples in the amazons and the facebook and some of these others steady as she goes? there is still a nosebleed level, how do you play?
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>> this is a trend that's persisted and shrugged off all the factors we talked about, turmoil in washington the rising interest rates the selloff on silver in gamestop these seem to be the elite tech stocks as you talk about that people want to own, the growth stocks but they are seen as blue chips, value stocks people see them undervalued is that the amount of earnings relative to the pandemic. keep in mind the market in the '90s went up 95, 96, 97, 99 the nasdaq one of 85%. there's no tops in a bull market is the earnings "after the bell" with a big cap text today. neil: we will see, we will have you back in the next segment, we mentioned in talked about what is going on right now in tesla, keep on mind elon musk is behind spacex in the civilian space flight crew they are running it
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is not through jonathan is among those volunteering to ride in the space, the truth is we volunteered him. more after this.
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neil: what if it was all just
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for commercial interest and anyone with enough money in their wallet just like the elite astronaut corps, that is going to become reality in spacex elon musk is trying to make that happen upsetting in all nonprofessional crew, a very rich one to venture to the heavens and start with others like richard branson are hoping will be the commercialization of space quite literally with average folks like you and me able to hop on to see the heavens for ourselves, with jonathan hoenig who we volunteered the first flight, susan li wiebe volunteer jonathan for the first flight. i'm kidding but i always wonder what the mercury seven astronaut would say right now, wait a minute you guys pay x number of dollars and then they'll be up in space to do what we did without any of the advanced training at all. but it is a sign of a new era,
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jonathan what do you think of it. >> it is remarkable i am mixed on elon musk and so much of his wealth comes from selling regulatory credits like tesla et cetera, he's an amazing and visionary when you see the rocket come up or this plan essentially to send average citizens into space, i will not get on a motorcycle so there's no way in hell i'm getting on a spacecraft. it reminds me of those who left the old world and discovered the new world, elon musk is inspiring a whole new generation to explore the stars only in america, this is exciting stuff. neil: susan i know you're so young and you do not remember, maybe look at the history books but what is amazing here is your generation is younger this is all new to them and i suspect pretty soon will be commonplace
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for them but it comes at a time when we'll see a lot of spacex activity man and unmanned kept by visits like this. >> let's hope, aspirational, inspirational you're making a sound like everybody, this is for every man, the person who pain for the first space flight is a billionaire, he did payments in order to pay for, that's a nice picture of neil. i don't think it's for everybody, the next guy. neil: i did not pay for that trip, the last man to walk on the moon made me an honorary. but leave that alone that was very nice. jean shot that. >> this is not for everybody, you said it's for every man, it's for the billionaire the next is to get the japanese billionaire who is going to the moon in 2023 however, i will note to you neil and jonathan if you needed to send me too space
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i'm sure there's people that would chuck into send me too space. neil: i would absolutely for varney. you think about it, when i was a kid the big battle soviet union racing to get to the moon and all of that we had a start and then we know how it all went with our landing on the moon before they did. but now we have a lot of other players, now we have china which a lot of people said the modern-day version of the soviet union challenging outer space but there putting a lot more money and effort into it as are the iranians, a number of other countries that feel this is a moment and they're all seizing it. what do you think of that. >> when it comes to accomplishing anything in space i don't think the battle is between a free america and it
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othello torian iran or china, every immigrant private citizen like elon musk or richard branson and government, nasa has been sitting on the outdated shuttle technology for decades and along comes elon musk, private citizens and private initiatives, jeff bezos is a space exploration company they are the ones reinventing and making the new generation happen. if we can privatize nasa in the spacex expiration. we'll have to worry about any other player it's an american entrepreneurial spirit that will get us the billionaires and everyone else into space. neil: is going to start out with billionaires, i think will ratchet down a little but we will watching very closely, more interest this week super bowl will be limited in terms of in the stands a little more than 17000, i think the stadium can hold more than 65000 but i could be off on my numbers, what i do know the cdc has put out a
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warning against cheering at parties, they're not keen on parties ten or more. it makes a mockery of the mass and all of that so they are worried they're worried this could be a suit under super spreader event all over the country i lots of super bowl parties. what do you think susan? >> you have to cheer as super bowl parties, what's the point of the pizza and pop instead. a tree falls in the forest, what about the odds, right now the odds from what i understand the favor of three for the kansas city chiefs, i think they're going to cover that pretty easily i would take that side of the bed, no offense to tampa. >> if you're interested in the odds when it you want to not cheer, it is putting the odds on your favor of not getting covid it sounds silly where two masks, don't tear the party, you've
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come this far and you have not gotten sick. so to go to a super bowl party for break 2021 and get coded because you had to cheer, i'm with the team. neil: there being very clear, i know you're a libertarian by nature but from them you clap, stomp their feet or bring handheld noisemakers instead, forget about enjoying the usual game day buffet the cdc is advising partygoers to bring your own food, drinks, plates, utensils and condiment packets, it sounds like a great party. >> i'm laughing inside. no. neil: you found this whole segment tedious. but there you go, you can't party like crazy. >> not this year. >> i'm assuming they're one of the teams in the super bowl. >> not tom brady team. neil: thank you both very, very much this is getting down to not
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only if we can have parties but what do we do with the parties even if you have the right number of people. really, more after this. ♪
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neil: last hour we talked a so dakota hotel owner whose business was affected by joe biden nixing the keystone pipeline. it continues with other biden climate policies in new mexico grady trimble with the latest on there. >> joe biden signed the executive order putting a pause
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out of leases on federal lands, and oil pump on federal land in every pump that you can see from here is on federal land, this executive order only affects new leases but there's concern we could go to an outright ban on federal land and i want to show you the numbers new mexico is disproportionally affected by this a quarter of drilling and oil production take place on federal land but in new mexico more than half of oil production is on federally and nobody knows this as well with claire chase with. >> energy corporation. what's in your impact of this executive action. >> it is tough in the field and as we operate we are looking in the fiscal year 2020 new mexico received $1.4 billion in revenue from the federal government for oil and gas production that represents 20% of our budget where will we find another
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$1.4 billion with a scary prospect especially because we spend so much on our public schools and infrastructure it is going to be tough. >> we mentioned this to be signaling an outright bm on drilling on federal lands, 60% of what you drove right now is on federal land in new mexico, industrywide that would have a crippling effect on jobs and revenue generated for the government not only here but nationally. >> in new mexico would look at losing 65000 jobs that represents 5% of the workforce in the state when we look at how we will adjust and figure out what our future look like for a company we have to consider other places. for not allowed to draw on federal land will have to go to estate that allows us on private or state land. new mexico cannot recruit from some of those job losses. >> claire mentioned there actively looking at texas as a possibility because they can drill on private land and when i
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have to deal with the executive actions. that could change at any time. neil: they just did to your point. thank you very much. following all of those developments march to blackburn the republican senator from the beatable state of tennessee, good to have you this is the latest example how the executive order can spill over and cost a lot of jobs not just the energy industry but those depended on that. when you see this going senator. >> one of the things that is concerning to all of my county mayors in tennessee is what is going to happen to the energy cost how that will drive up the cost and doing business if you will in those counties. another thing they're talking about the concern over the $15 an hour minimum wage. and how harmful that is going to be not only to local employers but also the county government
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and the pressure that will put on their budget, they've done a great job, tennessee has done a great job of weathering this pandemic in our counties have done a great job of getting people back to work, children back in school and working hard on the environment they're looking at executive orders and i was talking to one of the counties this morning and they said where is this going to stop live energy is going to cost more, those jobs are leaving and you'll see less manufacturing in the country what is that going to mean to us? neil: if i can switch gears you talked about covid as well and even though the president did meet with a number of your republican colleagues to have a bipartisan plan the talk is that all that might be talk the president is urged to use reconciliation will method with him simple majority to pass the
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$1.9 trillion plan including the 15-dollar minimum-wage feature. how do you feel about that do you feel if you go through without bipartisanship is a nonevent for this demonstration quest work. >> what is so interesting were gonna have that vote to proceed to a budget resolution this afternoon and you know what the budget resolution is, at this point it's a bunch of topline numbers, there is no detail and all you're going to do is see past budget numbers then the committees will fill this out and decide how to spend the pocket of money. really should be targeted, temporary and timely. what we are seeing was $3.6 trillion already out the
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door, the last tranche of money that was passed in december, those checks are not even to the states, they're not even to your local communities yet. but yet they want to bump this number up to 5.5 trillion by passing another $1.9 trillion when you haven't even gotten the checks out the door for the last round of funding. this is something that is just ridiculous but bear in mind you have bernie the budget buster who is now chairman of the senate budget committee andy of joe the job killer and was the president of the united states and signing these executive orders that we know have adversely impacted over 1 million jobs. neil: they come around and point to the federal reserve which said go big on stimulus, you can
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regret going to small but you won't regret going too big. what do you say. >> all you have to do is look at what we went through from 2009 a slow stimulus look like when the federal government is trying to micromanage economic growth. the best economic stimulus there is is a job. it is the government responsibility to create the environment for job growth to take place then get out of the way and let the private sector do what they are good at doing. and to try to micromanage this, to do the executive orders that favored china when you're looking at energy and minimum-wage and manufacturing, my goodness let's be for the american worker, let's be forgetting them back to work, let's be for robust economic
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growth. neil: thank you very, very much, senator marsha blackburn on all of that we don't know exactly where the stimulus plan will go but the administration is going bigger and not being better even if they go it alone without republicans. this could explain why a lot of americans are stepping back from all of this as anxious as they've ever been even technically more so than they were in the height of the pandemic not quite a year ago, last night and finishing up reading you remember ryan the billion dollar listing guy, he has a new book out that essentially urges all of us to get a better sense. more after this about where were all going. we'll have him to explain. ♪
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neil: for billion-dollar listings i was not aware until getting to interview them a number of times in the latest book the big-money energy that it's a little bit more of a method to his thinking and it's all about attitude, big-money energy to essentially a notion you are who you think you are, nothing cannot be done simply
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because you don't believe you can, he is very big and talking about giving impact in every area of your life in doing so with unique energy. that is kind of contagious he is much younger than i, a great deal of wisdom to what he said. brian big-money energy, ryan very good to have you, i was thinking a lot of what you were saying as i was wrapping up your book last night and looking not all the news reports of americans concerned and covid still out there in the job status and if and when they can return to work and what's going on in washington have we become anxious and are anxiety beating are anxiety, it's weird reading the headlines it says it's a psychological position that we have to do to overcome our doubt, that is easier said than done.
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>> it is my first day in the real estate business was the day lehman brothers filed for bankruptcy in september 2008 there was a lot of anxiety that month as well and following a handful of years. that's when the lightbulb went off in my head when i realized if i project anxiety if i project fear into the future i'm going to predict my own future because that fear and anxiety attracts people who are fearful and people who are anxious. those people don't want to do business with me because they are too scared. neil: you can understand why they are scared, they get scared for a reason. >> of course and you need to understand that fear is okay and you need to use as fuel to push herself forward. a lot of people feel that success is reserved for other
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people, smarter people, educated, net worth of people, it is just not true, if you cannot change your consequences, you can change your energy and if you change your energy you can change your life. i guarantee it. neil: you talk about how you are you appear a little bit, i was fascinating you originally wanted to be an actor going to acting and then you migrated to the real estate, that was bumpy because you were dealing with rental properties at the time not making a ton of money. so you have these big dreams but not necessarily the big wallet to go with it. how did you change your thinking to aim for a higher end of the real estate world, chasing a chinese client if it serves me right looking for exclusive listing and you found it for her but that was not in your league, she was not among the normal of
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which he would deal. how did you make that happen. >> i just want to commend you for going through the book you are the best i love talking to you every time. too that client was my first international buyer ever and it was 2009 she reached out to me over the internet and i realized she did not realize who i was, she did not know i was predominantly doing 2000-dollar month rental in the east village, two roommates converting a studio into a two bedroom, she had no idea. i did not have to wait to become the future me that was going to be more confident, more experienced and more successful, i could show her when she got off the plane that i could be that person right now, i put a suit on a credit card and got a car service on the credit card and then i did the homework, i did the math i understood what the market was i committed it to
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memory and i took her around and i showed her every home i possibly could for three days and because i knew more than she did and that's what she was hiring before she bought her apartment that's a first i did over 2 million. that was a changing moment for me in the process in which you go through to do that is what i put in the book that is taped to my hand. neil: there we go what was interesting the substance you brought to the table and brought your research and had your fax but you also did the cosmetic things, the right suit, the right look, if she had suspicions about you and the appearances this guy is the guy i should be going to, a lot of people forget that part and almost dismiss it but both are important the substance and the glitz but i wonder which is more important, there's a lot of
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glitz around you and that gets more substance and more business which brings more glitz and attention to every new venture, one feeds on the other. >> yeah, there are three main qualities that you have to remember that every successful person reviews also big-money energy is, his big magnetic energy and it's the thing that we all want, most of us want and i had to determine how do i want to look how do we want to communicate and how knowledgeable do i want to seem. uas those three or whoever you're speaking to her working with in the possibilities are limitless. i'm wearing a suit and tie right now i'm probably one of the only real estate agents in new york in the blizzard in the office and wearing a suit and tie i'm not doing it for me or my health the suit is actually a little bit tight.
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i'm doing it for the clients i talked to who i want to show respect to everyday and i know the reward to me is going to be more business, that is a trade i'm willing to make. i'm okay with that. neil: appearance matter, when i look at your confidence i don't see a lot of ugly people, nothing that there's wrong with ugly people i built a career on it i'm not criticizing you, i'm wondering about the appearance part of this, does that feed in the glitzy world where fame gets more fame and attention, how important is that? >> one, you are a beautiful man. two it is not about good-looking it is not about gorgeous, this is about dressing and away that fit you. so many people don't care i think because instagram or something has happened in the world in the last 20 years has told people not to care because
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that's the new right way, don't care that's how you will show people that you actually care and i think it spectacularly backfires unless you're a genius, where whatever you want to wear but if you are not, i am not you need to dress in a way that shows your attributes, if you have insecurities you hide the insecurities. neil: i'm sorry to jump in, it seems very important to you what is the sacred routine that you stick to if you're really feeling good move and last, what is something that you stick to and never stop doing. >> i think two things, i wake up at the same time every single day and i work out whether i feel like it or i don't and most times i do not. but i wake up very early before everybody else and i get my day started before everybody because
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in my mind every day is a race and if i had the opportunity to start the race before other people i'm not the fastest one, i'm happy to start first. good luck trying to catch me. two i intermittent and fast. it's been a huge change in my energy level. that to say that's what my book is about but i.e. between 12 - 6 and it's amazing what happens to your mind in your body when you don't over fuel your car, those are the two things as a routine stick to you. i also tell my wife i love her and i kiss my baby. neil: i am 0 - 2, the workout in the eating properly, in your mind we let all live in our own heads. big-money energy, it really does make you think about the way that you think because you are what do you think. we all are our tweet. more after this.
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♪ limu emu ♪ and doug. h■ñsrú ■nga■■ and if we win,day to we get to tell you bond guide. how liberty mutual customizes car insurance so you only pay for what you need. isn't that what you just did? service! ♪ stand back, i'm gonna show ya ♪ ♪ how doug and limu roll, ya ♪ ♪ you know you got to live it ♪ ♪ if you wanna wi... ♪ [ music stops ] time out! only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ neil: chicago's mayor wants kids back and in person classes, teachers unions are not so keen to do that caught in the middle a chicago public school parent, sarah thank you for taking the time to join us, where are
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things right now for you? >> i'm posing the question why the chicago's teachers union as educators aren't looking at the science and art considering the data and leaning into the fear and people in their heads throughout this pandemic. instead of listening to the experts in dr. fauci when they have time to reopen. neil: they teachers who say this is the reason why they're not keen on in person classes the disease is still a threat to them, what do you say to them? >> i would say a group of educators teaching our children look at the data and the facts and not lean into their own fear and teach children it does not make sense from an educational standpoint to deny the data and the science. i would wonder what are they afraid of, what is the fear if
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the data and evidence and testing. what i think it is i think the key to advocacy is asking all the right questions and not having answers but if i would've had to guess who still does not make sense to me i would say it's control you're trying to control a group of traumatized people with fear and were all traumatized in this pandemic. neil: how do you handle this as a mom trying to do the right thing? >> i prioritize my own mental health, you have to as a mother of four i am putting four people out into the world that need to be emotionally healthy and lead towards a better tomorrow. we look at science and my family and the data before we lean into fear in our own head so we can move forward. and grow as a society and heal from the place of trauma were
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all in from the pandemic. neil: we have to get past this. neil: thank you very, very much. sarah's worry would be eased if there was more vaccine available if the teachers had that as well into that and were learning from the white house briefing that the administration is increasing the weekly vaccine allotment by 5%. more vaccines better for everyone. more after this. my husband and i have never eaten healthier. shingles doesn't care. i logged 10,000 steps today. shingles doesn't care. i get as much fresh air as possible. good for you, but shingles doesn't care. because 1 in 3 people will get shingles, you need protection. but no matter how healthy you feel your immune system declines as you age, increasing your risk for getting shingles.
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♪. neil: game stop remains an investment not for the faint of heart right now. continues to subside a little bit here. off the worst levels of the day. certainly no longer $300 plus. more trading being allowed in the stock all of those caught up in its wake are having a tough time of it. here's charles payne. charles: neil, thank you very much. good afternoon, everyone, i'm charles payne. this is "making money." breaking right now, it has been a wild ride. i don't think it is over yet. meanwhile hamstrung by buy limits, short squeeze names under immense pressure, but gamestop fighting off lows of the session after robinhood increased their purchase limits. they're still pretty limited. in addition to the debates over the fairness of the system there are important trading lessons to be learned. we'll different into them later in the show. post your questions on twitter

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