tv The Claman Countdown FOX Business March 11, 2021 3:00pm-4:00pm EST
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charles: they are changing everything. dave you're one of my favorite guests. you're almost always on the money. that is why. we have a pretty good rally. we've been seesawing back and forth for almost three weeks now. it is last hour of trading that makes a difference. liz claman, i'm buckling up and i'm watching. liz. don't move. stay buckled off. handoff between you and me just as thethat very day one year ago that sent markets into a massive tailspin, and put an end to decadelong bull run fast forward to today, is looking at a whole host of new all-time highs, the dow on tractor for second straight record close s&p needs just 36 points we already have more than 40 the moment, to make it 11th record russell ,000
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transports are also at record levels nasdaq doing best, to climb out of its recent correction hole right now adding 326 points, our floor show traders here to react to whirlwind of the year for markets and economy the pandemic froze, summer block buster season last year sources tell countdown it is tom cruise's "top gun" sequel maverick to get the-billion-dollar box office speed funding on why krauz will push it first quarterly report since going public when will skills turn a profit? the ceo is here in a fox business exclusive. all right. let's get to the fox market alert the dow, and s&p 500 may be winning ail time highs today but one year ago, as
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world health organization a declared a pandemic here is what we and investors witnessed. >> charles gets give people the number because that is important, the dow needs to be down 1377 points, to be in today bear market yes, we are there right now the dow in a bear market for the first time in 11 years in two days nasdaq just touched bear market territory. we were dozens and dozens points away from that what we began 25 minutes ago for "the claman countdown" now s&p, now bear market territory, we have nasdaq in bear market. >> that was one year ago, this very minute two minutes after the top of the final hour that was the start of a gut-wrenching fall for stocks dow ended up dropping 1446 points big-point drop in history that day closed as we
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said bear market the effort s&p and nasdaq managed to avoid er bear market, since then major averages have not only recovered, look what they have done over just the last 52 weeks, the dow gaining 30% s&p up 37, yeah, i i mean look at nasdaq up 60%, and the russell bungee jumping 72% from a year ago dow transports gaining 64% blue ribbon stocks among worst performers first 100 days of the pandemic, on the dow, boeing, traveling all came back with travels winner up 29% but look at s&p 500 retail names yes all three real names nordstrom l, brands tapestry hammered climbed back in nuvenl way with l lands up 1669%, flip to nasdaq, western
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digital ulta marriott three, issue have climbed one year ago, up 45% for ultra western digital up 37% marriott up 36% none of that he rayses reality of 118 million covid cases global, 29 million in u.s. alone, and, of course, more than half a million deaths, u.s. has 9.5 million fury jobs than one year ago, and more than 600 big corporations filed for bankruptcy forget it countless small businesses, have also shuttered doors let's bring in two traders, who were on the trading floors or looking at their screens, one year ago today, you know you were both in the thick of a crazy selling we saw one year ago starting with you what was it like, on the trading floors a year ago? >> a what was it like for ever around on trains hallways, you
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elevators it was quite awful to be quite honest. new york stock exchange trading floor where i was that reporters from every country you can think of trying to work, while they already felt sick, didn't realize they had the darned disease, it was it was a really awful time. and -- and we were going into appeared where we knew family were going to have a hard time filing fooding toilet paper a time i don't like to look back on almost like 9/11. >> tell me about it kenny from your perspective, what rrp doing that way how were you trying to field around a fallen a market . >> had been precipitating by weeks ahead market started to fall as one way or another of virus was a spreading, and the world was getting more nervous, until this day a year ago when they came out and made that comment, i remember, feeling the stinking feeling
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now i wasn't on the floor but having opponent 38 years there through a number of difficult times, you can imagine now the different place weren't 5500 people down there the way 1948 or 2000, but it is the sense of unease a sense of angst, anxiety in free-fall right, you start watching you start looking at what the point do circuitry breakers kick in? are we getting there? what happens if that happened a stinking feeling for sure doesn't feel good by any stretch. >> right guys, what is the number one lesson, you say investors should learn from what has happened that day till today? >> i tell you what, never bet against america. all right from operation warp speed to the treasury
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department to the fed, they will go to almost any length make sure operates are liquid operate properly artificially supported as it has been look at markets you named almost all major indices energy up 70% over 12 months materials up 67%, the semiconductors not whole tech sector but semiconductors up 79% everything built today needs a brain intent stocks up 78% everything runs on nt what was i doing i was buying amd i bought so much lowest cash i have been in ages, have to sell some to get back in order. >> kenny what about you what would you say, taking from what what sergeant said don't get against america he go when something like this happens you start scooping up good
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names that look kind of a little dirty if he moment. >> i think what happens you can tell if you look at chart at what point because it started to fall out of bed, you start to question yourself is now time is now time weaker, weaker, weaker most doing that guts to stand there, you stand at a price get run over out start to put your foot in the water you got to step back, for a maibt you got to eliminate the noise look at stocks you wants has story fundamentally changes is this out of control an opportunity in retrospect clearly is very much like i laughed other day kathy wag one tv talking about fund had gotten slammed down 40% when she gt on tv just stood there with the strength of character saying look nothing is really changed this is what i like
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this is my stock, and that kind of mentality that you have off to in long term server right? you have to be able to say is this fundamentally changes or black swan going to create a long-term term opportunity. >> so true, great lessons from both of you, and sergeant made it through covid, thank you. we appreciate it -- >> i did -- >> -- i did, i absolutely march 12 last year i got sick was sick until 20th in new york when i got sick. >> all right, you both came back i am telling you you guys look better than ever thrill to have you as part of the claim "the claman countdown". >> bitcoin most proved to investments cryptocurrency
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soaring more than 600% past year one in the event could kick rally into higher gear coin boys threatening to go public within possibly next two months some giving first major cryptocurrency 100-billion-dollar valuation one top analyst in critico space assigning buy rating 1895 dollar price target before public, why in lets ask him on fox business exclusive, i know you haven't put 100 billion evaluation on it but that is more than doordash and roku combined, can you justify anything even close to that for our viewers? >> well coinbase is gold standard in an open-ended growth category, so people are going to get very excited the valuation is going to be quite high. as we get closer, we get new versions, more visibility more guidelines, are current period
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results. it is going to be easier to justify that type of valuation. >> what so is special in your opinion county a business you slapped my price target on it don't know where it is going public again a direct lifting. >> there is three things that make coinbase particularly interesting, one that is they have terrell good user experience they've had that a very long time matters not just corrupto, compared to other apps, the second is not jinx them 24e6 been very secure very hard to be crypto exchange in crypto wallet you are under attack a lot of time, i have been able to stay secure, fird perform they have been regulatory compliant he freedomed from day one doefrng to stay inside lines
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well positioned for influx institutional cal from investors, from corporates that need that. liz: there are competitors out throw we could put up a list who you see as legit competitors, ones where close to apples to apples comparison you have paypal with gray scale crack, gemini square and robinhood there have you modeled for a pullback or correction in the price of bitcoin? for how all of these people may do, and, of course, coinbase very first one to go public eye sided from what is already public like paypal and square. >> yes coinbase pure play gets almost all the revenue from trading, crypto assets will absolutely be susceptible in the climbs in crypto assets prices to declines in volatility in crypto assets meaning trading volume
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susceptible to that that cuts both case as crypto assets continue to ascend volatility have i they are doing phenomenally well did in fourth quarter last year safe to imagine they are doing so right now, but their business model is not going to be a recurring revenue business model not o are a a mile there is going to be ups and downs part of the crypto category what is unique they are somewhat adverseed is -- diversified. >> i when you come back when they debut, on the exchange we can see how they actually do? >> a would appreciate that absolutely. >> happito. thank you very much amc positive reviewers after last night's reflection quarterly numbers beat top and bottom line estimates, shares move
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another 4% higher today wait till you hear, what ceo aaron just told me exclusively this afternoon, about the compact date he says his l.a. theatres will fire up popcorn pro rejectors sling back open doors could hill anticipated block the buster maverick be top gunning to superior over one crucial hollywood hurdle before any movie sources are exclusively telling countdown tom cruise people will all have in as l.a. box office is on cusp of reopening, the man at height of the lockdown panic predicted this hollywood comeback joins us next closing bell 45 minutes away don't go away dow up 07, and we are looking at a big full rally today. cell phone repair. did you know liberty mutual
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first-billion-dollar blockbustere movie post-covid sequel to massive 19889 hit top gun isn't scheduled for release until july 2 sources in film and theatre industry are telling me they fully expect maverick to stampede across the line first when it does hit big screen on news today, that after a year of covid closures movie theatres in los angeles could reopen 25% capacity as soon as saturday. in l.a., if l.a. county hits certain health requirements but even with approval, will they open? i just got off the phone with amc, ceo adam told me quote could it will be a few days, it will take us a few days to assemble staff but all protocols are set we will open l.a. theatres one week from tomorrow, no matter what. okay. so so a week from friday, let's bring in the man predicted hollywood comeback april last year at height of
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the major worry, coo founder executive chairman online movie funding match maker how important is this l.a. development for both theatre and film industry? >> well it is a huge signal l.a. and california in general are have been super strict with pandemic keeping things locked down the fact beginning to open up, tells you just how -- rearing they are to get going i think post pandemic fatigue rate of vaccinations going on there will be explosive demand so really whoever lines themselves up with the most compelling blockbuster movie first is going to do real well. >> telling me just catching a flight, got him on phone he said even if it we get green light for saturday, we can't just open on saturday we have everything set, but we have to take a week to get everything up and running, when they do
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open, do you think that they will see sell-off last weekend new york theatres opened 25% had multiple sellouts. >> immediate sellout i think things ramp-up fast i don't think going to take a year for to capacity to get back to maximum, everyone excited a lot of people ready to watch movies paramount moved up quiet place as well late may a really great litmus test maverick lined up for july, july 4th as well around then is symbolic to watch a movie so jake's have grown up this he movie first post-pandemic world is exciting i think that would be one way, that this movie can cross the billion dollar mark. >> there is competition out there, godzilla vrz, the monster release 14 days away followed by may 7 release black widow two with potential
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massive money makers my sources stick with it telling me maverick will be first one-billion-dollar movie most lockdown what gives the edge he specifically over say disney black widow. >> well, i think maverick i mean has they generational audience waiting for this, tom cruise is a megastar not just saying because cofounder is a close family friend of tom's part of tom's family rather, i believe, simply put that tom cruise and maverick is the movie that is going to get most people to want to go back to the theatre. i think watching superhero movies people got used to that watching on streaming, but i think this is something worthy of date night get out of the house a timing is right, i think it has everything going for it. liz: i think so generous of you to ask tom to come shown
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when movie debuts. >> i will pass i will pass the word around see if i can arrange something. >> please, thank you so much. by the way, the original producer of top gun jerry bruckheimer just joined his first border of publicly traded company, the ceo of skills is coming up in just a few minutes to talk about their business, in the video gaming world at least platform that enables video game owners to create and monetize their own games, the wild ride for the power players of stock movement in full effect but could the platform that rebels love to hate grown more popular after trading limits controversy? the shocking numbers on robinhood downloads that you've got to hear, charlie breaks it next he closing bell 37 minutes away "the claman countdown" is coming right
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liz: a toy it is part of our pop stock what are you looking at let us show you right now, it is a design for a pickup truck from california ev start-up canoe, yeah to come out 2023 in here and now investors are absolutely digging the truck. interesting, right? so what is stock up 14 1/2% but is it enough to smash upcoming competition, tesla's cybertruck let's check other pickup stocks, in green light with tesla gaining 4 1/2%, on a tear up 12% mikaela up 6
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1/4% why can kran audioling stock up yearly 16% after bigger than expected rise in fourth quarter revenue expecting pent-up demand a huge driver for revenue going forward, also said friendship product bumble bee effect a big -- kissing jumping to 73.22, got to look at boeing widely held in a lot of your portfolios up higher 2 1/4% reports close to-billion-dollar deal to sell dozens 37 max jets to southwest air also would potentially be biggest 737 max order since the safety ban was lifted southwest pulling back half a percent. seems no end to the regulatory scrutiny robinhood is facing
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but despite the ongoing controversy, new data suggests that the only brokerage has growth hotter than ever and downloads going nuts accelerating charlie gasparino you've got numbers ub tell us. >> numbers from a company called 42 matters, a swiss data company that tracks these things we also ran numbers by robinhood not denying them, by the way. and it shows two things extraordinary growth, in robinhood, particularly since the beginning of the year when this whole gamestop trading frenzy began and regulatory reaction came so remember two things going on here, and also for what we understand emboldening executives to push for ipo, we're getting timeing in a second let me move right off numbers remarkable, 42
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matters since begins of the year downloaded 2.5 million times. compares to 5 million times, for the 10 months previous and 10 months he previous was off the charts as well. so this -- still not reached any saturation downloading robinhood using despite scrutiny again i said from what i understand, executives inside robinhood emboldened by numbers he believe they can go to markets believe tremendous vest an tooipt based on growth numbers the one fly in the ointmentment liz is this regulatory stimulus they face investigation, lawsuits they believe getting through them all obviously, they don't believe they were manipulating conspiring with citadel remember that conspiring with
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critic gel to crush gamestop traders because citadel had relationship they believe they get through that it is a regulatory issue disclosesble event if you do ipo that is what they are weighing numbers point there is a lot of there there in terms of the business model i will point this out, this is a word of caution on this as a stock, i know for a fact private equity firms that looked at that -- at robinhood early on backed off because trading model is very, very risky from a regulatory standpoint. whenever you are engaging with novice investors retail investors you open yourself up to know customer rules bunch of zuf in terms of regulatory action that is something that a robinhood is going to have to deal with, if it does go
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public, and investors have to deal with so these are some things robinhood is weighing, but the user growth from my understanding is emboldening them to do something sooner rather than later that is will ray of cash. they can use it one reason they had to stop trading halt trading for on stocks because they didn't have regulatory capital to process them clear them so can use he money clearly there is a lot of interest, interesting story i think going to know more in weeks ahead as to what when they become public there has been reporting by bloomberg going to file this month confidentially so you know when you do confidential ipo filing gives you leeway to pull it back you don't have to do like not on road show should filing already like you can you can -- you can -- you can do it whatever. so, you know there are obviously, leaving themselves wiggle room because of the controversy, but they got this
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company is going up, if you -- if these numbers are real. i mean -- again we put a call into robinhood they did not deny numbers, they have no further comment liz back to you. liz: i am taking that as a "yes" charlie thank you great stuff charlie gasparino gamestop, is now at 264 dollars, but the high of gamestop's live was 480. so long way to go to get back to that from robinhood the reddit room trend row blocs up 55% yesterday adding another 6% in this final hour of trade as investments kathy woods said she picked ip more half a million shares of the gaming platform, as you see shares now at 73.74.
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the mobile gaming giant took the spak group to the market blasting revenue estimates first report as public company skill ceo is here on what he is doing to achieve the ultimately endgame, profitability for investors closing bell in 26 minutes we are coming right back don't go away we've got a record on tap for russells and france ports how the dow there yet? yep we are there for the dow we will see you if it closes there.
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major hollywood name to its ranks, jerry bruckheimer the man behind hollywood blockbusters from pirates of the krooen to top gun flash dance huge names in upcoming "top gun" sequel maverick now joining skill z board what is significant the first buried role of a public company, for jerry bruckheimer, skills founder ceo how did you get him to join this is amazing had many offers i would imagine. >> we had just the right mutual fund i talked to jerry about what we are building i would say jerry is a media genius working on building future of entertainment who
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could be better then a he legendary cryer of today to help do that. liz: what is it he feels so special with skiit will llz? >> i think -- skills. >> the future competition journey appealed to him building something of lasting value, and i think, with sale of -- has loved gaming been involved in gaming, would serve right time right place. >> well, the first couple of 100-year journey, your numbers quarterly report and you beat on revenue, so, up 8% year-over-year how do you feel the definitive? tell me what was driving that even though you did post an actual eps loss? >> yeah, look i am proud to show strong results from first quarter as public company.
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we expand enhanced capabilities added new engaging james beat revenue forecast grew revenue 95% year-over-year to record 68 million for the quarter. as we think about the investment in the business, when we talked about a hundred-year journey the path forward spent 120 million approximately to build a 230 million revenue nest with added capabilities being public company he larger balance sheet investing heavily into that future that is very much what you saw in q4. liz: agent obviously, on your first day of trade you jumped rather significantly about 29% to 2273, you are 2857 right now let's talk about the way you went public via spak do you stand by that model now everybody is saying its overcrowded. >> they there has certainly been incredible amount of activity in the spak market,
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following us when we were looking at spak vrs trillion ipo we had opportunity to go either way we planned to go public by then 2020 -- by end of 2020 from revenue skill i think market would agree we could have gone oet rout the majority spak deals i would say looking at it stocks provided flexibility allowed to us attract certain investors into our investor base, and totally pub in buzz ipo market representation was hen incredibly you will havebling has been an honor to partner with public markets like this. liz: could quickly before we go last we spoke you were starting a partnership with nfl looking to audition games to see what is happening there can you tell me where that stands. >> sure nfl deal is going to go live, in the 2-2, we are
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excited what that means for the company, are i think the -- the multi-year deal we are doing is first opportunity for the global developer community to crowd source next big mobile -- it is going to give the marking muscle nfl skills to that winning company very excited about expectation standpoint it should it will be live with a game about four quarters after competition watches. >> okay. we want to know when you find it when you pinpoint it so, please come back andrew paradise, by the way, you guys win award for being most excited by a film on your first day of trade you were jumping around on that screen i love it adorable we are coming right back don't go away.
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♪♪ liz: well forget warhol stella, incidentally artist better known as people is now hottest name in the art world, christie's auk shupd off that a nonfungible mft titled every day how much? he more than 69 million bucks make him one of the three most valuable living afr activists new record holter for the world comes on heels of other attention getters elon musk girlfriend, who helped make singer millionaire jack dorsey very first tweet ever, that he did in 2006 now up for sale as an mft to rake in millions non
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if you thinkable token a digital tile to verifier ownership of digital art pieces for things like that tweet like concurrencies they function via block chain, i know 69 billion dollars larry kudlow i got to bring you in you are close to the are a scene, url your lovely wife incredible artist what do you make of nonfungible tokens selling for tens of millions of dollars. >> right my family live aches terrific respect for artists i am very interested in this thank you for recommending remembering. >> you can pay via cryptoor christie's held auction somebody paid 69 medicine for the art amazing you can trade them you can it is only digital you can't put that up on the wall. >> oh i see, well, i liked the
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payment with cryptocurrency, i am a big supporter of bitcoin but i got to tell you, the saintly wise class cal painter realism naturalism school turn of last century school i welcome not saying anything bad i think elon musk is smaefrt on planet it is not judy's cup of tea. >> put her on line, let her try the world. >> he show a is online her pictures are online. i just call it conservative art you know kind of beautiful pictures, again, the natural realism school is making a big comeback, again i am not putting down anybody else here. i respect everything, and more merrier but i don't think it is her couple of tea i like bitcoin payment list that i like very much.
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>> i personally would apply non fungible token of dogs playing poker on velvet that is my style i am waiting for that you know we will wait [laughter] >> you are going to come to judy's studio in south bronx we're giving you a tour i don't know you might have been in her old studio, anyway we will have to walk you through, some really beautiful art. thank you liz. >> thank you all right, all right, larry kudlow airs top of the hour 8 minutes away gus robert o'brien jim jordan of ohio. we're coming right back on fox business.
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before we talk about tax-smart investing, what's new? -well, audrey's expecting... -twins! grandparents! we want to put money aside for them, so...change in plans. alright, let's see what we can adjust. ♪♪ we'd be closer to the twins. change in plans. okay. mom, are you painting again? you could sell these. lemme guess, change in plans? at fidelity, a change in plans is always part of the plan. ♪. liz: four 1/2 minutes away. larry kudlow's wife, judith, i looked at one of her pieces of art, i want apricot sunrise.
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that would make a great crypto piece of art. the dow on verge of a is a secod straight record close. nasdaq lopping off a third of correction losses. s&p, russell, dow transports on track for record closes today. johnson & johnson vaccine approved for 100 million doses. today's countdown closer likes this for a different reason. ted oakley. he has 1 1/2 billion in assets under management. ted, what do you like, if not the vaccine? >> well you know, liz, i don't think we realize this, they did the vaccine not-for-profit. they have a huge medical device business that people obviously during covid, they wouldn't come out to do those type of operations, make those changes. that should be a big boost for them, over the next two or three
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years. we think that will have big impact. just, johnson & johnson as an overall business it is fantastic. at these levels, 2 1/2% dividend, looks pretty good. liz: aside from j&j, you have two other names for two separate reasons. let as talk about those. because i find it really interesting that you're picking these names for, reasons that are completely separate from your j&j theory. you have adobe for growth, enterprise products partners lp for income. tell me about adobe. >> on adobe obviously it's a company we think we can grow 15% for next five years. it is a good entry point at this level. you look at balance sheet, it is really clean. the company is between four and five billion dollars in cash. they have more cash that they need. they have a great product. overall they do a lot of different things. we really like adobe for the
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next five years. liz: he is just a genius. enterprise. tell me about that, that has a very big yield, does it not? >> it does. 10% yield income, but it has a lot of capital up side. if you look at it, that stock was $40, liz, with a 4% dividend. today it is 23 with an 8% dividend, the best company we feel like widespread oil, natural pass, natural gas liquids, terminals, very, very well-run company. liz: we are on track for four record closes on four of the five major indices. tell me, ted, does this climb just continue on and on and on? do you look way down the road, see anything that could at least slow it down? >> well i think, liz, what could slow it down is a surprise,
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inflation goes higher than people expect and bond yields go higher than people expect. probably wouldn't show up until the summer. that hasn't been really great thing for stocks in all the time i have been in the business. if you're going to watch one thing, i think you have to watch that. liz: it is great to have you, ted. as we watched these names, cycle through, it is fascinating to see the double-digit percentage gains from one year ago today, when the world health organization announced yes, indeed the covid virus is indeed a pandemic. ted oakley, we'll see you next time. folks on this day, it is so important to say that one year ago you were here. i really hope you were, you stuck through it with us and we're now looking at a dow record close, an s&p record close, a russell and transports record close here. the lesson is, when others are most fearful, maybe you start
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picking up things on sale. cue the confetti. that will do it for "the claman countdown." [closing bell rings] including the t-mobile ceo. we'll see you tomorrow. "kudlow" is next. ♪. larry: hello, everyone, welcome to "kudlow." i'm larry kudlow. president biden signing off on a $1.9 trillions stimulus package after congress passed the measure without any republican support. one democrat in the house voted against it. president biden will not acknowledge the so-called stimulus package is princely a political payoff to blue states, urban teachers unions, a huge expansion of the welfare state. instead president biden made the case this bill supports the middle class. >> this
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