month to month basis. negative year to year 22 months and counting. things are going to get very, very tight the. in fact, it's already happening. debt service ratio, look at that. yellow line, surging. household savings, come down tremendously. look where they were in march of 0 the 21. look at april of 20 the 20 the. listen, i'm not an economy, but i read the data the, not just the headlines. i speak to regular folks, not just the brilliant people who come on this show. the story is really the same, it's reflecting in polls and surveys. when you talk to the american people, they'll tell you. of course, the term shop to til you drop is a pledge of sorts, so there is a lot of room before we are completely maxed out, but it seems inevitable. and when it happens, it's going to the feel like it happened overnight. the consumer's not as strong as everyone says they are, liz claman. liz: i know. but they can't break themselves of that credit card, charles. charles: no, love it. shop til you drop, baby, that's an american trait. [laughter]

liz: exactly. folks, with just an hour and a day left to trade in the month of february, stocks are churning. but we're only seeing a little bit of butter here. where's that golden lump? can we just jump to the intradays to show you what i'm talking about? what happened to the cow's 372-point pop we saw this morning -- dow's? we're still up 88 points. caterpillar leading the way with about a 1.7% gain followed by boeing, jpmorgan in there just over 1% ott upside. although you could argue winners are just about split down the middle with the losers. a few more winners than losers. among the worst performers, walgreens boots alliance down 1%, merck down two-thirds of a percent. note walmart. no major news here, but that could be right around the corner for at least its rivalling. huge -- rivals. huge week for retail earnings, starting tomorrow numbers from target and ross stores fold by

lowe's, collar tree, col -- dollar tree and best buy. kroger's in there to do, and most of -- too the, and most of the are retailers are lower. now, investigators are coming into the session, let's keep the in mind, nursing last week's bruises. when the holiday-shortened week kicked off tuesday, the dow cratered 6967 points -- 697 points. wednesday and friday combining a 480 point, so when all was said and done, u.s. stocks lost $1.2 the trillion in value, clocking the worst week of 2023. i con data having -- durable goods orders for january showed a cooling for big ticket items. that's pretty good for the fed. they like to see things cooling down. yeah, they went down 4.5%. that's a half a percent if further lower than expected. but when you skin out

transportation, this is called the core durable goods order number, often a proxy for business spending, it saw a surprise gain of .7 of a percent. and then we got january pending home sales. they skyrocketed 8.1% is versus the 1% estimate. this, by the way, is the biggest gain since june of 2020. so neither of these numbers really easing fears that more interest rate hikes are not coming. sure they are. finish we've got a tiny glimmer of merger activity. look at c-gen, this is a drug maker moving higher by 10% at the moment on a "wall street journal" report that pfizer is in early stage talks to acquire the company which has a $33 billion market cap. basically, they make transformative cancer therapies. pfizer, for its part, down just about 1.9%. we also, and this is notable just because this is one of -- it is one of the biggest winners, union pacific shares surging to a 3-year high, up

10%. activist investor soroven capital forced out ceo, tripped up by operational north korea snafus. the stock had been underperforming. it's a great day though. forget the railroads, to be in electric vehicles. most of the names are gunning it here. rivian, lucid, lordstown the, they are all moving higher with rivian up 7% right now. we've got lordstown better by 1%, lucid up 3%. and then if you want all of the names in there, you get idrv, that's the etf that piles them all in there. perhaps all of this on tesla's tailwind, moving higher by 5.6%. news coming out of germany where the berlin plant announced it is now producing 4,000 cars per week. that that's three weeks ahead of schedule and a quadrupling of may's production numbers. very good news for tesla. as investors maneuver through day to day headlines, is it time to stop trying to call a market

bottom and just start scooping up stocks? let's get right to the floor show. trader kenny polcari and david speak ca. kenny, this past friday gene goldman was on the show, and he said, you know what? if i'm pessimistic for the first half, optimistic for the second half. then why don't you just start buying stuff on the cheap now, and he said 'cuz i think things are gonna get cheaper. look, it's tempting to wait for that. should people wait for more of a bottom? >> no, listen, i'm in that camp as a long-term investor you take advantage on the weakness. now, look, do i think that we're going to test lower? i think we're going to potentially test as low as 3600. i really think it's going to be 3800. i'm not in the morgan stanley cap of s&p 3,000, so on weakness i add to the names that i find are being dislocated on that day that i own, that i like or i want to start to put money in.

it's ridiculous to say, okay, i'm going to wait until july 1st to buy stocks because you're going to miss the opportunity to build that portfolio for when they start to take off in july. you want to be there before. you don't want to be chasing it in july when everyone else is trying to chase it. liz: yeah. and, david, equities, are you one of those guys who is waiting? if. >> yeah, equities are still expensive, yes, because they've yet to price in the if lower earnings we've already seen and the lower earnings we will continue to see as the economy goes into recession. so last year the market was being driven by higher inflation and rising interest rates. this year the dreier's going to be recession and lower earnings growth. you just cannot have severe economic consequences from the largest decline in the money supply we've ever seen. that's going to happen this year. i don't think you have to sit out the market though because we're going to have more bear market rallies just like we just saw, but i do think we're going to go lower, i think 35-3600 is

a decent floor. liz: i know you both like short duration fixed income, of course, treasury, the 6-month yield is around 5%. it's just really unbelievable. a lot of people have come can on the show and said just park it many in treasuries. you know, there is something interesting that the i noted, you've got the ishares short treasury bond etf, shv. it last week, and here it is on the screen, i know it looks kind of strange like that, but biggest weekly inflow last week in here years. what does that tell you -- in three years? what does that tell you, david? >> i think what it tells you is that the market is very leery of what we're seeing in the equities at this point in time. we've got the lowest equity risk premium we've seen since 2007. why? because the fed is draining the market of liquidity. that's going to the create opportunities in short door can ration, high quality fixed income, and it's it's going to create a lot of risk that we're not being compensated for in equities. why not take advantage of what the fed's giving us?

that's a great opportunity to add to your fixed income portfolio. focus on high quality companies that can withstand an economic downturn but really take advantage of these fixed income rules. liz: kenny, you to know that the fed is going to continue to jawbone these markets lore, right? and therefore, there may be newer opportunities. just to be clear what you're doing, you're laddering in, you are scooping in on days where some of the names you like simply selling off. >> right. liz: it's almost a day-to-day, targeted moment where you're almost at the carnival shooting at fish in the barrel, right? >> right. but, look, i'm sticking with those high quality mega-cap names that are going to ride the storm out, right, that are going to weather the storm. you know, so they're names like amazon, a apple, bank of america, j p morgan, ve vieson. they're boring, but they're -- verizon. liz: let me just clarify, and we're going to be talking with a

warren buffett shareholder coming up in the second half hour because he came out with his shareholder note. but buffett says the only time you won't find him buying apple stock is when it's moving higher. so it's up just under 1% right now. this is a day all not be buying then? >> i'm not buying apple stock today because it's up, so i'm not chasing it. i'd be happy to buy apple on the way down. but i'm happy to buy anything on the way down as long as they're names that i've cone the homework on, i understand the fundamentals, the story hasn't changed. it's not going down because the story's changed, but people are nervous, they're trying to raise cash, and apple's a great way to raise a lot of cash very quickly. but it presents an opportunity for a long-term investor that can buy it cheaper than it was yesterday or the day before if you're going to buy it and hold it. i'm in that camp as a long-term investor. i'm not a day trader so, yes, i'm not buying apple today. liz: david, you like consumer staples, and you also like some health care names here.

certain segments of tech. which segments? >> well, nvidia's a name we really like. and i know they had a big move last week, but nvidia's not performed well over the last 12 the months, but it's cleary benefiting from the growth in a.i., gaming and driverless cars. like anything else, i agree with kenny that you have to focus on high quality companies. the cleveland fed even came out and said that based on the fed's own projections, core pce will only decline to 2.75% by the end of 2025. that's almost three years. that means there's going to be a lot more volatility, higher or longer fed funds rates. you have to be very careful. liz: it is great to see you both. david, kenny, thank you very much. as investors try to score points many in their portfolios, lionel messi and argentina's world cup win helping fubo-tv attract new subscribers, but how does the live streamer plan to lure in i new consumers without

an epic event coming up? ceo david gandler is here next in a fox business exclusive. dow jones industrials now down -- up, rather, 54 points. i will once again point out low of the session is a gain of 37, high a gain of 372. we're getting closer to the low of that session. say iewned the, we're coming right back. you're watching "the claman countdown." ♪ ♪ counting. i'm bill lockwood, current caretaker and owner. when covid hit, we had some challenges like a lot of businesses did. i heard about the payroll tax refund, it allowed us to keep the amount of people that we needed and the people that have been here taking care of us. see if your business may qualify. go to getrefunds.com. when aspen dental told me that my dentures were ready,

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♪ liz: can we put up a fubo chart? we've got to look at the price action here. despite popping nearly 8% before the market opened, shares suddenly cropped 13% -- cropped 13%. why the u-turn?

fubo is a live tv streaming service that serves as a substitute for cable. this morning it posted a narrower than expected fourth quarter loss, that's good, a revenue beat, that's good. plus it reaffirmed its goal of hitting positive free cash flow many 2025. that's good. the wild swing does bring up the question, how can a stock be 7% more valuable right after the report's are release and 13-14% lower now, and what does the future hold for investors betting on streaming platform? let's ask cofounder and ceo david gandler live in a fox business exclusive. at first blush, investors really liked the positive free cash flow promise, but when they realized how you were able to keep that to promise. >> yeah. well, first of all, we beat, as you said, top and bottom line. it was a really solid 2022 in the fourth quarter, even stronger. it was a great finish to the year. we raised capital. we raised clash 68 million --

$68 million this morning. you know, as you may already know, there are a lot of companies that have a very similar profile that require more cash, and we wanted to the make sure we remove any existential risk as it relates to achieving our plan in 2025. so we feel very good about the cash rates, and we feel that we'll be there in 2025 cash flow break even. liz: investors cannot be with happy right now, this is $1.99 stock the, 52 the-week high was more than $8. it's just going in the wrong direction. you were here the last quarter, it was a struggle as well. i know that having beat on revenue, that is certainly a positive. but especially considering that in the fourth quarter you had the world cup, and the world cup really helped you guys when it came to increasing your subs about 30. 30%. the current quarter, what do you have? you don't have sortover -- sort of a replacement for the world

cup, do you in. >> yeah, well, i think just to sort of level-set everybody, we went public in third quarter of 2020. and since then we've grown 3x and have been taking a disproportionate share of net additions in the virtual space from some very large companies, two of which have reported, you know, earlier in the month. so, you know, we're continuing to drive growth, we're continuing to grow at double king can jilts, and, you know -- digits, and obviously, you know, we had the super bowl in the first quarter which, again, was a very strong event. but this is a seasonally weaker quarter. but we cobelieve that we'll continue to grow double digits in 2023 and beyond. liz: do you expect that the super bowl will have more of a bounce than world cup had, less, the same? >> yeah. well, you know, a lot of customers come to fubo because we have the nfl package as well as one of largest college

football packages. and the super bowl actually was our single most viewed event. we had seven figures of current viewership, so it was by far the best single event that we've had from a viewership perspective. and that includes the world cup. so we've also said on our earnings call this morning that we have retained customers far better than we had anticipated at least in the sort of first few weeks since our price increase. so we're very happy about the current performance of that particular -- liz: let's talk about prices. when you look at the prices and you compare them, you guy, i guess your lowest pricing is just below $80. i believe you've got about, what, let's call it $75 for 153 channels. youtube, 100 channels, $64. hulu live, 75 channels, $69 about and then you can see the comparison, just 125 channels

from verizon for $75. youtube has the nfl sunday ticket. they got one of those. don't you expect that they're going to package with youtube tv is some type of offering, and that may draw people away? are you modeling for something like that in. >> yeah. well, look, i think there's -- you have to really unpack the situation. i think youtube tv and few fubo -- fubo are probably the only two focused on sports versus general entertainment. we have decided to go the valleys regional supports front which we believe has a tam of 25-30 million customers whereas the sunday ticket, in our view, historically has has never had more than 2-2.5 million customers. and it was never available for either youtube or fubo prior to fubo acquiring, you know, that package. so we feel very comfortable about our position. we still have a differentiated content offering versus

youtube tv, and most importantly, our customers can still have access or buy the sunday ticket through youtube premium, which is a direct to consumer service that does not require a buy-through on youtube tv. so, again, we feel very good about our positioning, the differentiation we have not only in the content side, but on the product as well as from a brand interspect i have. -- perspective. liz: as we finish up, the cynics out there looked at your mention of the current buzzword which, of course, is artificial intelligence, a.i., and you had willing many your earnings report that talked about your, quote, proprietary a.i. technology. can you give us a window into what that's going to do for fubo that would make somebody like me or any of our viewers say i'll pick them over youtube tv or hulu live? >> yeah. well, it is a buzzword and, again, i was very clear in my prepared remarks that we acquired an a. a.i. company in

2021, in december. so, again, we're not jumping on the train the here -- liz: right. >> we already had acquired a company back then with a focus on interactivity. so this is not a new, you know, statement from us. we have been focused on interactivity, and really what we're doing is we're continuing to accelerate the ability for consumers to lean in. instead of just thinking about it from a per-game perspective, we're also looking at it are from a per-play perspective. but there's a lot of very interesting ways that we can really maximize the value of the technology that we've acquired and we're continuing to develop. everything from meta data extraction to insure there's better quality of discovery for customers, better search capabilities and also we think we can also drive more incremental value around advertising to be able to actually see on a frame-by-frame basis what's going on and to be able to sell our content, you know, in a very different way. so, again, early days, but this

is something we have been focus ifed on since december of last year. liz: i know you guys are eager for baseball season. it's coming. can't come soon enough. >> april 1st. liz: it's great to see you, david. listen, please come back. again, i appreciate a ceo who comes on even when the stock's getting hammered, and and we continue to follow the fubo story. >> yep, thank you. only a matter of time. liz: all right. air service gone awol as major carriers are pulling out of small towns, leaving some says like dubuque, iowa, with zero air service at all. connell mcshane is on this story. you need to know what the impact is and what it's doing to small businesses in rural america. not just small businesses, there are huge businesses in some of these towns that are finding themselves without air service. closing bell, 38 minutes away. dow is up now only 30 points. let's call that 28 points. s&p up 7, the nasdaq up 673 -- 63.

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liz: we've got some breaking news, the "wall street journal" is reporting that altria, the maker of mall borrow cigarettes, is in talks to buy njoy holdings for clash 2.75 billion and then divest its 35% stake in popular vaping brand juul. altria group down is.5% concern 1.5% at the moment.

juul is values at $714 million, that's it, down from what had been a $38 billion valuation when the vaping company first, when the tobacco company first invested in the vaping company. altria group dropping into the red on the news. we're watching that story very closely. at the moment, fox business alert, we've got the dow up just 42 the points. can't seem to get back up to session highs, anywhere close to it. we had been up 372 points. the s&p up 9, we've got the nasdaq better by 68. snapchat's parent company is getting into -- we were just talking with i fubo about the a.i. buzzword? well, snap announced today it is rolling out an open a.i.-powered chat bot named my a.i. to snapchat +subscribers. the bot will recommend gift ideas, weekend plans or recipes and will allow users to customize the name and chat background of the, quote, experimental feature. according to the verge, the chat

bot is based on open a.i.'s chatgpt technology. let's often the live cycle9 we have covered them on this show. the stock is lit up about 3.33% after the lithium ion battery recycling company secured a $375 million conditional loan from the department of energy. the funding will be used to develop a recycling facility for key battery materials near rochester, new york. live cycle says the plant will eventually be able to process batteries from 200,000 evs annually. big bet by the u.s. military on li-cycle. stock's at $5.87. all right, a sunny day for solar stocks. nphase energy up 6.33% after montgomery scott raised the stock to a buy from a neutral. this after the sales forecast for the current quarter came in higher than estimates.

the firm also says companies that install solar panels for homes are upbeat now about the demand. other solar are stocks like solar edge also matches that 6% gain, but sun run is outrunning it, up 7% at the moment. and cleveland cliffs customers may not like it, but shareholders love it. ing the stock is up 4.6% right now after the steel producer increased current stock market-based prices for its carbon hot roll and coated steel products by a minimum of $100 per net ton. clevelandland cliffs says it's able to increase these prices on expectations of higher command from the auto industry. no surprise, cleveland cliffs is very domestically-focused, and the domestic automakers here, ford, gm, stellantis the, are all in the green. and as we already showed you, tesla is having a very strong day. breaking news, airline stocks, they are hovering around session highs. and a billion collar gift might

have something to do with it. this afternoon the biden administration announced it's awarding nearly a billion bucks not to to the airlines, but to modernize 99 of the nation's airports. the funding is from the aviation program that was created through the bipartisan infrastructure law. the federal aviation administration says the money is going to be used to expand terminal capacity, help travelers get in and out of the airports, we need that, improve baggage handling, increase energy efficiency and accessibility for americans with disabilities. these upgrades cannot come fast enough. in just the last week, united airlines, air canada can, frontier airlines and regional carrier avelo announced dozens of new flights that they're adding. but while those airlines are increasing routes, others are eliminating entirely flights to smaller cities. connell mcshane's in a fox business newsroom in what i can only imagine is, i guess, the impact ahead of what may really be just a crying up -- drying up

of air travel this these cities. >> reporter: it's a big economic story. just for example, recently american airlines pulled out off dubuque, iowa, del rio, texas, and columbus, georgia. and is we spoke to local officials from all three of those areas. if you just take a look at del rio, so close to the border with mexico, it's nearly 3 hours by car to the nearest airport in san antonio. then the small airport in cue buick which brought a lot of economic activity in -- dubuque. both of these areas are taking a hit even if the circumstances are a little different. >> we have employers that are telling us that, you know, we may have to look for opportunity elsewhere because air service is really critical to doing business. >> you won't have access to air travel for people to come in and out? we're the epicenter of the border situation right now. so that really affects our homeland security, it affects our judicial system. >> reporter: so american, delta and united have now pulled out of more than 60 locations

around the country since the pandemic started in 2020. mostly these small, regional airports blame mostly based on the pilot shortage. and, you know, the areas that might be best suited to handle something like this are the small airports at least semi-close to big cities. take columbus, georgia. >> the impact is one that we'll be able to absorb. we will continue to have flight service with delta airlines. and in addition, we're only about 88 miles away from hartsfield-jackson airport in atlanta. >> reporter: so they're close to atlanta. but it's clear these moves have had a real impact on the rural areas. they just can't adjust, you know, like the smaller airports located near atlanta or new york. the ones in the small towns, they lose a lot of economic activity. liz: the spokes of the hub and spoke model. we've got to keep those running. thank you, connell, very much. the oracle of omaha coming out with a pretty epic insult. not to me, but, boy, he's taking

on economic illiterates in his latest letter as berkshire hathaway adds to its enormous cash hoard. stephen czech is here, we're going to check the temperature of what buffett said with him. is he offended? is he cheering buffett on? keeping the stock as buffett ages? we're going to find out from a shareholder in just a minute. the closing bell ringing in 26 minutes. now the dow is up just 25 points. told ya. just a churn here. only bits of butter. hmm. ♪ ♪

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liz: occidental petroleum on deck to release fourth quarter earnings after the bell, it's expected to post earnings per share of $#.83, an 8.65 billion in revenue. analysts expect the energy

producer to reveal strong production numbers from the gulf of mexico, the rockies region as well. and it comes after -- let's just say something about the stock here. it's flat at the moment, but over the past year occidental petroleum has jumped 52%. one of its biggest fans, shareholder warren buffett, the oracle of omaha, released his annual shareholder letter along with earnings for the fourth quarter and 2022. berkshire, which is a huge conglomerate that has more than 80 companies, posted a loss of $22.8 billion for the year and earnings in the fourth quarter did drop 53% year-over-year to 18.1 billion. but operating earnings came in at a record. it was what buffett had to say about stock buybacks and two stock buyback critics that really grabbed wall street's attention. the investing legend called those who critique his judgments about share buybacks -- which a lot of companies like to do --

quote, economically illiterate and, quote, silver-tonged demagogues. that's so shakespearean, is it not? here in a fox business exclusive is check capital management president and cio stephen check who owns close to half a billion in berkshire stock and has attended the annual shareholder meeting in omaha 27 times.. i'm at about 17. you bought a shares. let's just rewind here. many, many years ago at around $25,000, right? let's put up what the a shares are worth toed. -- worth today. and this is really stunning, because you talk about creating value. and the reason it's so high, $460,4 # 911 -- 411, because buffett has never split the stock. what made you buy it that many years ago? >> well, i bought it originally

toy a tend the berkshire -- to attend the berkshire or meeting. i was one of the last groups before the b shares came out, and it was just great to see warren buffett, a guy who i'd read about for years in the mid 1990s already and see him in person and hear him answer the questions, i was a fan. i've remained a big fan. liz: let's talk about the numbers here. obviously, there was a loss, and we saw the eps dropping. does any of that bother you. >> that doesn't bother us. as warren buffett says, everyone should really be focusing on operating earnings and operating earnings at berkshire were up over 10% last year. fluctuations in the stock portfolio and the price of the stocks in his portfolio which are now affecting gap earnings and previous misleading losses for berkshire when we know that berkshire's stock portfolio historically goes up over time. liz: well, yeah. and for people who don't understand some of the vagaries of what we're talking about, buffett runs all of these companies including everything from dairy queen to garanimals,

net jets, all of these companies. but he also has that gigantic stock portfolio. and like most people's 401(k)s, a very rough year last year. he tends to want to push that aside because he hasn't sold any of that, is so it's really only paper losses, correct. >> >> yeah, just paper losses. and i think the paper losses were maybe half of the paper gains the year before which he also told everyone to ignore, so he's not playing one side and ignoring the other. liz: are let's get to what he said about share buybacks. the biden administration does not like them. they feel -- and president biden just said during his state of the union address that he wanted to quadruple the tax, which is currently at 1% on share buybacks. big companies like a lot of the oil industry have come in with record profits and, of course, you have got the democrats saying this is an outrage, ask we need to tax these shareholder buybacks -- these share buybacks

because they feel that the money could be better spent paying employees. where do you stand? buffett obviously says, you know what? if i want to buy back my shares because i think they're undervalued, you're an idiot if you think i shouldn't or tax me more. >> well, i mean, you've got to remember the companies are owned by the shareholders. these are -- they're not owned by the employees. the employees are obviously working there because they're happy to work there for what they're being paid. they're not told they have to work there. and so i think warren buffett if who is, of course, as we all, most of us know is fairly leans democrat, he doesn't like it when any politician tries to mislead about something that's, i think, so basic in the sense that share buybacks would hurt, i don't know, hurt the country or something like that. so he, he's willing to call it out, and i was very happy to see him do so. liz: well, you know, everybody had been waiting for the official announcement of who would take over when buffett is no longer there. he doesn't like to say when i

leave, because he says he won't leave until he can no longer operate the company. it is now officially gig able, of course, who has been -- greg able who has been running berkshire energy, somebody that buffett if absolutely adores, thinks is incredibly brilliant. he has in the past creased shareholders at the annual shareholder meeting. obviously, ajit jane will take over the insurance business. he already has. and then you've got todd colmes and ted wexler. my point to you is this, and i have no doubt greg is absolutely brilliant. but four people are now doing the job that warren buffett did all by himself. now, here's greg abe bell, we were able to talk with him. that's a couple of years ago at the shareholder meeting. what are your thoughts about greg abell, and will you hold on to the stock when buffett leaves? >> well, i don't know greg abel

very well. i've seen him speak at the annual meetings the last couple years, and he comes off certainly not as charismatic as warren buffett, but who can do that? he could take some clues from charlie munger, for example, had very high praises for greg at the daily journaling meeting that charlie munger posted here about a week ago. and, you know, i will continue to hold the stock. i i think if you go back and read the 50th anniversary letter from berkshire hathaway and reading warn -- warren buffett's meter, you'll feel very comfortable with berkshire after warren buffett and charlie munger. it feels like it could have been written yesterday. it'll be a strong company with a strong culture, and greg abel's going to keep the culture. liz: any company that owns see's chocolates, how can you go against that, right? it's great to see you, steven,

thank you for joining us. >> nice to see you. liz: shareholder steven to be check who bought shares at 25 grand and they now are $460,000. speaking of buybacks, goldman sachs announcing a $30 billion buyback, what will see you david solomon be telling the street? charlie already has it. he's about to break it next, so you can't miss that. closing bell, 13 minutes away. we are on the move here. dow gaining back just a bit of those losses, now up 66 points. ♪ ♪ ♪ limu emu & doug ♪ hey, man. nice pace! clearly, you're a safe driver. you could save hundreds for safe driving with liberty mutual. they customize your car insurance so you only pay for what you need! [sfx: limu squawks]

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♪. liz: all right, we've got goldman shares up two-thirds of a percent right now. the company hoping to close the book on a pretty rough 2022 and convince investors that wall street's second largest bank and its ceo will turn around the business. so charlie charlie gasparino. the beginning of that i guess is a share buyback? >> everyone is on the story we at fox business on claman "countdown" were first to report that david salomon is in trouble as ceo. i'm not saying that he is leaving tomorrow. i'm not saying that he is out way out, that the board will, he has got three months to turn

things around but clearly the knives are out for him. after we reported that story i did a column in the "new york post" which showed him on a, on a chair with knives pointed at him. a throne with knives pointed at him. that is clearly what is going on. there is a lot of problems in terms of morale in this place. one thing to turn it around to get investors happy in a stock. that is what you do when you do a stock buyback. the other thing to turn it around, do some sort of a deal. here is the problem david faces, liz, goldman needs a transformational deal something like with a bank to compete against jpmorgan and jamie dimon and kind of get back into the game with morgan stanley. the problem is that most of those deals are so big they overlap goldman's business. he knows, david solomon knows he will not get through the regulatory review. what they have to do is figure out smaller deals along the

lines of what james gorman at morgan stanley did with e-trade, stuff that doesn't sort of overlap. stuff not big enough to cause a antitrust concern that the fed might come in. there aren't a lot of those good deals around. one name i keep hear something northern trust. it's a very, very prominent wealth management firm out of chicago. it has got i think a 20 billion-dollar market cap compared to goldman, let me see my numbers, compared to goldman's 125. you know it's doable and problem will pass regulatory muster but those are the type of deals, that shows you the sort of box david is in right now. he has shareholders who don't like the last, clearly the last quarter, don't like the fact his retail banking business kind of imploded on his watch even though he did not create that problem. that was handed to him by lloyd blankfein, his predecessor. most, the logic suggests he needs to do a deal to basically

get sort of flatter earnings and better quality earnings in asset management, wealth management. a lot of those places are just too big. they will attract a lot of attention from regulators. he has got, he has basically, the choice of doing, sort of mid-sized deals, a northern trust that would be a significant deal that is a 20 billion-dollar company. that would be a 20 billion-dollar plus deal. that's a big deal but again not like sort of transformational but it would be good or improve the business bottom line, hamstrung by lack of deal flow, volatile markets, of course the noose around his neck, so to speak, would be marcus, his retail banking unit, it is just not there. so tomorrow's going to be an interesting day for david. investors general lie like stock buybacks but you know, that is like, that is like a sugar high,

you know what i'm saying? it goes away fast if you're not executing. he has got to execute. liz: what about buffett saying that people who diss share buybacks are silver tongued demagogues? that is a good one. >> did he say that? i don't know, i never -- i don't diss stock buybacks particularly if i own the stock. why would i do that? for the record -- liz: people say it is financial engineering to prop up the stock. >> liz, some of it is, okay. listen obviously if you have a lot of cash on your balance sheet, it is just sitting there you should return it to shareholders. i get that. the problem with, you know, when remember when carl icahn forced apple to do a share buyback, that makes sense because apple was big. liz: it had a mountain of cash. it was sitting there. >> goldman doesn't need to do that. liz: buffett likes it too. if my stock is undervalued i'm going to use some of my cash to buy back those shares.

>> what makes you think, makes you think goldman sachs is you know valued? david would say it is. liz: it may very well be. >> i'm just saying he has got issues to deal with that stock buybacks can help. liz: they're yelling at me but i want to quickly, wait, i want to check the pe of goldman. it does show, has got a pe of 12. one would argue that is pretty inexpensive. >> by the way, david, you know what? it sounds like you've been to the investor day already. liz: i have? i'm a ghost. i'm a ghost in the wind. >> that is exactly what he will say tomorrow from what i understand. liz: good to see you, charlie. thank you very much. >> just skip it. watch "the claman countdown." liz: exactly, that is why all of you guys i'm so happy you're here with us, right? closing bell three minutes away. we have got major averages in the green, not by much. dow up 52. s&p better by 10, nasdaq up 68. we had in this hour along people

recommend consumer staples, large tech cap, berkshire hathaway. our countdown closer look abroad for opportunities. we have peter ma luke. what do you mean foreign? people like international because they say it is undervalued. where? >> liz, turn of the decade, goldman, blackrock, every agreed that u.s. was overvalued relative to international markets. first two years we didn't see that play out. people are starting to buy in more. everything overseas is in turmoil. people won't invest in china. i'm not a fan of that either. it infect as lot of asia, and superpower, what is going on in ukraine, middle east, everything else. what already started out as depressed multiples, high dividend yields are even more depressed multiples and higher dividend yields. a lot of opportunity. emerging market growing twice

the rate of u.s. there is a lot of opportunity for the investor with patience willing to buy here. liz: you have evt, etf, what do you expect from federal reserve? >> if you look at bond market, most people predicted 5.25%. throwing a guess in the ring, i'm guessing that is too low. the fed wants to see unemployment a full 1% higher. we have a long way to go to get there they expected housing to soften a lot more. it is showing incredible strength. economy stronger than expected. i think they have to go higher than they're indicating. [closing bell rings] peter so good to see you. thank you so much. the dow gave investors a bit of a scare in the brief moment final 20 minutes went red. now it is green up 72. see you tomorrow. ♪. larry: good evening, folks