line. he's always talking the talk, but he's talking to the very people that he is trying to put out of a job to reach dubious, and i'm talking dubious climate change goals. it's ridiculous what we're doing to workers in america, particularly autoworkers. why don't they see that? why don't some of these actors, some of these people who you just know the folks who own these companies, they're just not, they don't have the same interests as you do. and still you're still on the same political page. i will never, never understand that. another thing we're having a tough time certainly coming to grips with is this market. a lot of red on the screen, and you know what that means. this last hour of trading, always treacherous, but many -- more so today. liz claman's balk to walk us through it. liz: yes, i am. charles, did you see amazon? we need to look at that right now. amazon very close, like pennies away from session lows, right now down 4%. it stands at $125.95.

exactly three hours ago the tech and e-commerce giant got hit with a new lawsuit from the federal trade commission and 17 state attorneys general. they are accusing amazon of using its market power to inflate prices, overcharge third the-party sellers and for using strong arm tack -- tactics to maintain its monopoly. the suit comes after a 4-year probe into alleged monopolistic moves by amazon. so it's actually affecting the broader market here. the stock is driving the nasdaq 100 lower. right now we have got the nasdaq down about 209 points or 1.5%. it is among the worst performers on the index. siriusxm on semiconductor cin actioner -- cintas joining amazon on the biggest laggards list. the that major indices head for their fifth if fifth -- fifth down day over the last six.

if you look at the dow, it is down 403 points, that's at the low concern below its 200-day moving average. microsoft, goldman sachs, caterpillar and united health care account for one-third of the dow's losses. apple is in the worst position here, it's the biggest laggard down two full percentage points followed by microsoft and salesforce.com. we need to look at the u.s. dollar because a lot of those big global companies or that are based here have exposure to the dollar and see the the greenback is acting like a 49ers' linebacker. the dollar index is up against a basket of currencies for the forty straight day. all the major currencies are down against the greenback. we do have the dollar hitting a 10-month high at the moment. and as equities fall, treasury yields are rising. the 2-year near its highest level since 2006, it stands at 5.144%. the 10-year at the moment, we've got to check that because it is, at 4.559%, at a 16-year high.

so with all this market drama, is now the time to run screaming from investing in or starting a business? coming up in a fox business exclusive, we've got three of the world's most successful entrepreneurs together here in studio. finish real estate magnate barbara corcoran, retail rock star damon john and a all-around mr. wonderful, ken o'leary, are here together and -- kevin o'leary. yes, i can't wait to see the dynamic between these two especially on a day when the market is falling like this. meanwhile, president biden has just departed the assembly plant where he joined the united awe -- autoworkers' union on the picket line. edward lawrence, tell us what the reaction is. >> reporter: he ended up not going to the ford plant, he went to a gm plant. this is where the president was earlier today with union workers who have been striking. this is actually a gm customer

care and and after-sales facility coming back and forth. from the white house perspective, these are union workers that the president supports. however, the president bringing a message here of transition to electric cars which use 40% fewer workers. heather add also is in the union apprentice program and was laid off by ford because of the strike. she says that he has a message for the president. listen. >> i don't think that it'll just be electric cars. that -- i don't think america will go for that. there's a lot of people in the south, they're old school. there's a lot of, you know, i'm not that old, i'm 35 years old, and i'm not going to drive an electric car. i don't care how nice if they are. i don't think that'll ever change. >> reporter: tiara connor has a similar message saying people need a choice of the less expensive gas-powered cars. still, the president trying to hoe his support. show his support. >> so let's keep going. you deserve what you've earned, and you've earned a hell of a

lot more than you're getting paid now. >> reporter: no mention there of the regulations or the incentives the president's giving for that transition. over to electric cars. president trump, former president trump will be in michigan here tomorrow. now, he likely will not get a greeting with the union bosses, he will not be on a picket line because under president trump, former president trump, yes, people were getting jobs, but the the union was not his favorite. so it'll be a very different resense even though the message from the former -- reception even though the message will be telling them to switch their votes. liz: yeah. and union president shawn fein has made it quite clear he doesn't like donald trump's approach. we'll see. both of them are trying to curry favor at least somewhere in michigan and throughout the auto world. thank you so much, edward lawrence. former chairman and ceo of chrysler who back in 2007 was able to craft a deal within six hours of uaw members calling a

strike. bob nardelli is joining us now. that's got to go down in history as one of of the shortest strikes in history, right? >> well, liz, thank you for having me on. you really gave credit to the wrong person. you know, this little bit of a dust-up we had was over the volunteer employee benefit association which at the time, like general motors moved $55 billion of health care liability over to this trust, they put in about $29 billion into it. but this gave the uaw the right to manage their own health care and take charge of it. we were just finishing up the paperwork on that. that really was tom lasorda, my partner, and ron getting finger who was an unbelievable strong force, the president of the uaw. and without him none of the big three would have gotten through the crisis we saw in '07, '8 and '9. liz: that was at a time, back in 2007, that, i mean, let's be honest, the big three were

losing billions of dollars, right? so it's very different from the atmosphere right now where they're coming off several years of very strong profits, correct? so what do you think is sort of that is acceptable level of all of the gets that the union is really asking for? >> yeah. well, you said it and you said it exactly correct. i mean,er is bus capital management just spent about $7.4 billion to buy 80% of chrysler back and reestablish an american legend here in the u.s. so the times were very, very different. liz: yes. >> again, i was blessed with ron gettelfinger who had been the president for a long time -- liz: of the uaw. >> -- and understood the situation we were in. fast forward, you just mentioned the current president. you know, he was recently elected. he made some bold, outrageous commitments to the union members, the uaw, and now he's going to have to deliver on that. 46 wage increase. and -- 46% --

liz: sorry. let's be clear, 36%, right? >> well, it started at 46, then it went to 40, and now it's 36, right? and then he made some outrageous commitments like i want to get you paid for 40 hours, but you've only got to work 32. i'm going to reestablish the pension program that was part of the negotiations in '07, '8 and '9. those are some pretty outrageous commitments that he made, and now what's happened is we've polarized both the big three and the union. i was surprised, i watched the president today where he said we need to get fair pay, we need to get treated appropriately. but he didn't say, liz, oh, by the way, i'm the guy that's eliminating your jobs with the ev mandate. very, very similar to the obama administration with the calf pay a -- cafe standards where they said you have to buy small cars. we're going to increase the average miles per gallon to, like, 50 miles a gallon. liz: right. >> the consumer like that young lady said, stop, i don't want a

small car, and they had to take an offramp and changed the whole position. this is a little bit of déjà vu, liz. liz: want this, bob? the union is making an argument that, quite frankly, a lot of americans relate to, and that is that the rate of inflation has moved much higher than the rate of wage growth. and you've got a lot of americans looking at that and saying, yeah, i get, i get what they're saying. is so what? if i could use with -- put on your negotiating hat and tell me if not 36%, what, you know, wage hike, what do you think they'll settle at? 34? 31? >> i don't -- here's what i would say, i totally agree with your point. the average household income has not kept up with the inflation that this administration has created. day one, the war on energy, energy inflation is up 40%. you just go down the list, the inflation reduction act that was really a green movement. so this administration is solely

responsible for the inflation that we're having to keep up with. so i understand, a family just wants to earn a living. and it's fair and appropriate. maybe a cost of living adjustment. but again, i don't know how they come together right now, liz,because they have really become so polarized. the new president broke with all the tradition. if you look at a two of the companies, you know, they have new negotiating representatives. ford does not. ford also has the largest representation of uaw. and then you've got stellantis out there with -- [inaudible] the least dependent upon the uaw because two of the three brands he's got are really offshore with fiat and the psa group. so, again, you really have a tremendous challenge here to try to bring this thing back to center to have a fair and equitable negotiation, liz. i think this thing will go on for a while. and even at $500 a week on the strike line, which is up from $250 a week, you can't live off of that, you know?

you go to the pump, and is you're going to spend $80-100. you know, the the kids out in l.a. are spending $6 per gallon right now. that's going to consume, they're e going to have to dig into their savings, and people are going to get quite upset as we move into the winter months standing on the picket lines freezing with those 55-gone drums of fire -- liz: it almost feels like a vicious circle because as inflation goes up, people demand higher wages. companies are looking at this saying how can we -- everything is going up. we'll be watching it. bob nardelli, thank you. we've got to run, but we are going to have you back because it doesn't look, in day 12 now, that this thing is close to being over. we shall be watching. jamie dimon has yet another warning for investors as the markets right now recoil9 from the fed ooh's higher for longer interest rate stance. wait til you hear how high the jpmorgan chief thinks rates could actually go. hint, much more than 5%.

next, blackrock's -- is about to reveal what she says are the best etf ifs to give you some green in this sea of red. the dow still down 372 points, "the claman countdown" is coming right back. stay with us. ♪ ♪ ♪ explore endless design possibilities. to find your personal style. endless hardie® siding colors. textures and styles. it's possible. with james hardie™. ♪ is it possible to fall in love with your home... ...before you even step inside? ♪ discover the magnolia home james hardie collection. available now in siding colors, styles and textures. curated by joanna gaines.

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con datos celulares ilimitados y batería de respaldo de hasta 4 horas para mantenerte conectado. obténlo solo con xfinity. el hogar del 10g network. entérate más hoy. liz: forget interest rates at 5.5%. fox market alert, jpmorgan chief jamie dimon says investors need to prepare for 7% rates. dimon told the times of india while he was in india that he

predicts the fed could punch its benchmark rate to 7% if stagflation, that's stag stagnant growth and high inflation, kicks in. and look at how trishly yields are responding -- treasury yields are responding. the 2-year at a 5.14% even here, and the 10-year up 1.7 basis points. so we're looking at really high rates this morning. keep in mind this morning the 0-year had dropped to 4.8, so now 4.55%, yes, it's moving north ward. as far as stocks are concerned, monday's gains are are erased. we have got the vix popping 13.5%. that may be the high of the session. i'm thinking it's very close to it. the flation part of dimon's stagflation warning, okay, that is weighing on consumer confidence. september's gauge fell more than expected for the second month in a row due to stubbornly high food and fuel prices. but 7% interest rates?

the markets really don't seem to to think so. fed funds futures show traders are barely betting on one more quarter-point hike by year end. november, you look at 25% chance of that. december, a little bit higher, now at 35.5% chance. but one thing fed chief jay powell has stressed is that rates will remain higher for longer. if that is the new normal, folks, how should you, the investor, play it? let's get right to the floor show, head of ishares investment strategy americas. first of all, do you agree with jamie dimon, that rates could go to 7%? >> good afternoon, liz. it's great to be here. thank you for having me. so i think that it's highly unlikely that rates can go to 7%. i also think it's important for us to look at what markets are pricing in, what the fed itself who would obviously take rates higher are saying. when they released their statement of economic projections last week, they still expected one more rate

hike but not one, not even a single person voting that puts their proif nexts -- projections at anything higher than that 5.6%. i think that's worth something. now, obviously, you know, one can never say never. again, a i'm not in the 7% camp at all, but if oil prices continue to move higher, can the fed raise rates further than that 1 that they have projected? perhaps. but 7% seems quite unlikely given that inflation is slowing down and added growth. liz: but you do agree that the fed is going to leave rates higher for longer. >> absolutely. and, you know, one of the things that we're talking about in our fall investment directions that we just published yesterday is around how investors should think about investing in this higher for longer period. so our viewers, we've got gotten to the higher. now it's a question of staying longer. the higher has happened, the longer's beginning and how should you invest -- liz: let's go, higher for longer, the trade. [laughter] you've got three etfs that you

recommend for the higher for longer atmosphere that we're in right now. >> yes. liz: iye, that, to me, seems pretty smart and oven, the u.s. energy -- obvious, u.s. energy etf. this one has a whole bunch of the big, integrated oil names. >> exactly. this is a recommendation that we had opened in our june update which, by the way, i was here for your show at that point talking about this. and we thought a lot about keeping that overweight into the fall update as well, and we decided to remain invested in iye because we think that the demand-supply picture in the oil market still favors an energy overweight. so even if oil markets just go up a little bit more from here, a few percentage points, energy stocks can actually continue to do pretty well, and they have really good cash flow. and when we're looking at quality companies, we want companies that have that good cash flow. that's what investors want.

liz: then you've got q-u-a-l, which is u.s. quality. this kind of surprised me, because you've got names that are sometimes volatile -- nvidia's in there, you've got apple, nike, microsoft and then you've got visa, mastercard, eli lilly. so these are big quality names. i would think that way you keep your toe dip in some type of equity exposure. >> yeah. so the thought process behind that is that as we slow down and, again, this is not a recession call, but this is just a view that q4 is going to be a slower growth environment than q3. and in that environment where we're all so super focused on inflation data, on the growth data, on the consumer data as a you were pointing out, on whether or not the government shuts down, we think that in this volatile environment it is important to look at companies that have high cash flow, that have strong profitability and, very importantly, low debt. higher for longer, low leverage. liz les you've got an etf that that has the word buffer in it,

okay? [laughter] it's the ivv, it's relatively new. >> it is. liz: and the promise, because i really looked deep into it, it's designed to prove 100% protection against stock market losses. 100%? [laughter] >> yeah. are. liz: right now it's flat, so you're looking good for the moment -- >> right. liz: -- considering you have such a selloff today. >> thank you for bringing this up. the way we think about that is, again, it is protecting you on the downside. so you're staying invested. you not leaving the market -- you're not leaving the market, you're staying invested. but the way that it is the corrupted with optionality embedded is allowing you protection for when there is downside shock for about 5%, you are protected in that shock. so we think that's e a really good way for investors to remain invested for the long term, but at the same time have a little bit of protection in their portfolio. liz: not to compare you to jpmorgan, but i do have to give your last three, and those are

ones that that you say you find upside in areas abroad. because jamie dimon is in india, jpmorgan adding it to one of their most vibrant with areas for investment, they believe. you've got inda, bw dis, which is brazil, and emerging markets x china. a word about all three of these. >> i think because of with india, not just because i'm indian january -- indian, but we expect a lot of demographic shifts to come from, growth to come from, for em x china, that's very much around central banks that are beginning to start on their easing process, not hiking, so not higher for longer, but cutting for longer. and for brazil, again, another story where central banks willing, able and ready to start cutting rates. we with think the all of those can be a good place for the next three years. liz: thank you very much, good to see you. >> good to be here. liz: swiftieses flexing their

economic muscles after taylor's visit to arrow stadium. what the singer's interest in travis kelce is doing for sales of his nfl jersey. you've got to see the details of this next. looking at the markets, we are now even lore, we just hit a new low. dow jones industrials down 423 points, s&p down 69. 1.6% loss there. and the nasdaq down 227. it's ad broader market losing day here, folks, but we are coming right back. charlie gasparino's also getting in the chair. ♪ if but you can invest in them. at t. rowe price our strategic investing approach can help you build the future you imagine. t. rowe price, invest with confidence.

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♪ liz: we have a fox market alert. we are looking at a pretty broad selloff at the moment. dow jones industrials down 421 points, the s&p still down 69. all right, nasdaq down 227, that is now good for 1.75% loss. swifties swooping in on dell city merch. do i sound cool by saying that? taylor swift's appearance in kansas city sunday to watch travis dell city play at the chiefs' game has led to a spike in the sale of his jersey. according to fan merchandise company a fanatics, the tight end's nike game jersey saw a nearly 400% jump in sales throughout the that gnattics' network of sites. it was one of the top five jerseys sold on sunday behind

all of the cleveland browns' jerseys. oh, those are mine. kelc everything was spotted leaving arrowhead with swift by his side. billionaire john malone's liberty media is looking to combine the business that contains its stake in siriusxm with the rest of the company. that deal would create a publicly-risked firm controlled by the conglomerate. the proposal aims to spin off liberty siriusxm group which has an a 83% stake in siriusxm into a brand new unit that would merge with the satellite radio company. sirius is down 5.8%, liberty media up 3.5%. inknew know vant is surging 98 percent? often it's because there are early stage data pieces that look good. that's exactly what this is. it has an a experimental antibody treatment that did exceed analyst expectations. the drug developer's working on an under the skin injection to treat autoimmune diseases. jp morgan says the early data

hit a home run scenario adding that it supports the drug's potential to be the best in classes if it succeeds in later studies. that's a big if. but the drug is expected to compete with treatments there j&j and ucb which are currently under development. and look at fisker, you guys, now powering higher by 10% at the moment after the ev maker said it expects to increase deliveries of its fisker ocean suv to 300 vehicles per day. the company also reports that it delivered more than 900 vehicles so far. bank of america reinstated coverage of fisker with a buy, an outright buy rating, and set a 12-month price target of $8 a share on the automotive stock. right now it's at $5.8 # 3. shifting gears here, we've got the monopartisan political organization no labels saying it is moving full stream ahead to get -- steam ahead to get on all 50 state ballots in 2024 as another faceoff between trump and biden is looking

increasingly likely. to charlie gasparino. third party nominee inevitable? and who are you hearing? >> since you mentioned the market and we are having a significant selloff, this is a from a source of mine, longtime investor, he says did you see a 1987 market crash next month? because the treasury yields at 6%, it was around that point in '86. '87. liz: which treasury yields -- >> the 10 year? liz: it's not around 6%. >> where are we now? liz: 4. >> oh, excuse me. on the short end. liz: oh, okay. >> we are at a point -- liz: 3-month is at 5.35%. >> let's be clear here, we're at a point here, liz, where it looks like, it looks like the bond market is pushing town the stock market -- down the stock market. these higher yields, something

systemic could happen. i'm not telling you to sell all your stocks, i'm just saying this is starting to percolate in the market ecosystem. getting back to no labels, the names we hear is larry hogan, it's glenn youngkin, it's joe manchin. i find the youngkin one pretty, like, far out there because he's a republican governor. but all these names are coming up. and i think what we're going to see is this, liz, in the next sort of couple weeks no labels, from what i understand, is going to come out, make some statements about their nominating process. i think by october we're going to get some idea about who they might put on the ticket. i think -- what they're telling me is they're going to have the money to get on all 50 state ballots, that they will have a vice president, president. but they only go this route if it's trump versus biden. and it looks like, based on everything we're seeing now, it's definitely trump versus biden. i'll tell you, if biden drops

out, i don't think they go for it. if trump gets indicted and is in jail instead of -- he can't run, they probably won't go for it. but if it's those two, or what they're telling me and that word you just used before, that phrase, full steam ahead is exactly where we're going with this. it's going to be pretty interesting. so we'll have to see. i know we have a debate tomorrow, republican debate on fox business. if you know, but it still looks like trump is running away with this thing. but if it's him and biden, i think the next thing is who's going to be the third party candidate. we should point out that ross perot was probably the most successful third party candidate in recent history. he didn't win a single state, but this thing's a little different this year, you know? two very unpopular people -- well, i shouldn't say unpopular. people who the middle wants -- liz: have doubts about. >> yes. liz: charlie, thank you very much. charlie gasparino. is this the precise time to avoid starting a business or the best time? let me check the time on this

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liz: recession or no recession, that is the question. since the federal reserve started hiking rates back in march of last year, americans have been fretting about and anticipating a possible economic downturn. and while economists have scaled back their expectations lately, according to the latest reuters poll they still see a 5 a 5% chance -- 55% chance the economy will dunk into a recession in the next year. recession or not, our next three guests have become multimillionaires by investing in and building businesses during incredibly difficult economic times. they don't care and, they say,

nor should you. joining me now is a shiver of sharks from "shark tank," i am so honored to be joined bidet monojohn, barbara corcoran and kevin o'leary. i mean, am i fright, you guys, when i hear the people say, oh, it's a terrible time for businesses. damon, you started your business in your mom's basement. >> and i've been through a hundred terrible times. [laughter] it's always a time for business if you have something of value. absolutely. liz: i mean, right, barbara? and do you ever look at the clock or the economist reports and say, oh, maybe i shouldn't invest -- >> no, it's just going to bum you out. you have to make your own road, have your own optimism, decide when you're going to go into something. the the worst times and the best times to start a business, most of the big companies start in the bad times. i start mine when new york city was going bankrupt. everybody folded, and i was one of the few men standing. come on, it's a great advantage. you have to go against the tide.

liz: some of the greatest, most incredible companies, ibm, fedex, were started during recessions or depressions. >> and if you're starting at a time when money's tight, that's certainly the case right now, you have to be very resourceful as a entrepreneur. you have to solve problems, you have to pivot in a way that when money's free and cheap and zero interest rates, you're flush with it. you make a lot of mistakes because with you think, well, it's not going to cost me much. now you make a mistake, you go bankrupt. it's good and bad, but as we're all saying, a great time to start a business is always when you want to start one. that's the key. >> it's not about the timing, if i might say, it's always about the individual, whether they can cut it, whether they can do it -- >> don't get in business if you can't get into business when it's the hard. >> because you'll see bad times no matter when you start your business. 7-year cycles in the economy and people debating version, this brings us back to 2008, 2009 season. everybody was freaking out because rates were high, a

recession was upon us, financial crisis, and yet some of the very best deals we ever saw were right then. >> absolutely. liz: so you can't be fearful about that. but looking at how you guys started your businesses, let me take it even earlier than that because with i really want our viewers to understand this. raise your hand if you ever were a waiter -- [laughter] seriously? i knew you two, but i didn't know barbara. >> come on. i was a waitress 20 the different times. >> it's how i learned sales. liz: and what did you learn specifically from being a waiter? >> i learned that you didn't get paid off the steaks, you got paid off the appetizers, alcohol and desserts. i also learn ask for the desserts first, hey, let me take it first, i'm not sure going to get -- >> con men. [laughter] >> i sold another 15% -- >> royalties as a bartender because i told those servers, look, if you don't give me half your tips, you're not going to get any drinks out here. that was the very first royalty.

[laughter] >> i learned that if people like you, they tip you heavy, and i learned to use my charm to get the highest tips. liz: so we're talking about a very difficult economy right now. nevertheless, you're all, you're elbow deep into businesses, am i right? what are you most excited about? which business at the moment, damon in. >> i'm still loving my bomba business, but all my businesses the playing field is equal because they're all a starting to use a.i. nobody if knew about it unless you were in the cia2, 5, 10 years ago, so the playing field's even, and they're being able to change the way they use their work orders and appeal to their customers. that's what i love about it. liz: so the sock company is using a.i. how? >> obviously, you're able to pull more out of what your customer needs. you can crawl into any of their social media aspects or their posts and you can personalize hair message, and then it comes back to a human. and more importantly, you're able to show all the socks,

underwear and everything else we're giving away to those e in the homeless community and be able to broadcast it out to everybody. liz: barbara? >> my favorite still, i am embarrassed to admit, cousins who last. they had 40,000 in sales, they just went by 500 million in sales. they are a phenomenal success. and they're charming, they're good looking, they flirt with m- [laughter] and i love getting their phone calls every day. liz: kevin. >> i love divorce now. [laughter] a low prenup, and it's out of boston, it's all online. i always tell people, look, i love love, 100%, but 50% of marriages after 7 years, they fail -- >> and your wife is on the phone right now. >> but the whole point is you need a prenup, and i'm here to get it to you. hello prenup, my fastest shark tank deal. i also like divorce. i get 'em coming and going.

[laughter] liz: real estate, barbara, we got home sales data today. if people are worried that there isn't enough inventory and yet what do you see? you see much higher prices. >> it's tough to find a house, of course. but no inventory is like an insurance policy. you don't have enough houses to to go around, prices continue to go up. and there's nothing that's going to a make more houses available while interest rates remain high. liz: kevin, you have an opinion about mortgage rates being as high -- >> i do. you know, commercial real estate at regional banks where i spend a lot of time supporting my businesses through, their books are 40% commercial real estate, and all of those properties, primarily office in submarkets, are underwater. they have no equity left in them. they used to get money at 5%, now it's 11-17. >> and they're highly leveraged as well. >> they're going to zero, barbara. >> they're not going to -- liz: i need more from damon on a.i. and so much more. kevin, barbara and damon are staying with us through this commercial break. we're looking at the dow right

now with the markets, it is certainly a difficult day. we've got it down 378 points. but coming back. much more. disgraced crypto billionaire sam bankman-fried's trial starts one week from if today. we'll ask our superstars what they think about the future of crypto businesses and so much more. closing bell, 13 minutes away. "claman countdown" is coming right back. right back. ♪ ♪ th the money i saved, i started a dog walking business. i was a bit nervous at first but then i figured it's just walking, right? [dog barks] oh. no it's just a bunny! calm down taco. sit duchess. stop! sesame no no. archie! walter don't, no, ahhhh. ahhhhh! you're lucky you're so cute. only pay for what you need. ♪liberty. liberty. liberty. liberty.♪

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♪. liz: we are back with our rock star panel of business people, fubu ceo daymond john, corcoran group founder barbara corcoran, o'leary ventures chairman, kevin o'leary. by the way, kevin i need to keep this watch. you have one. there are three in the united states. who has the other three? >> the either two, john mayer has the white gold, i have the yellow gold. we're all supporters of this brand. this is rolex, i'm a big sorter of when they do. this is a trust in switzerland. this watch was rumored to be a.i. and not real because rolex would never have a watch with puzzles. liz: it is real. >> he is a paid salesman for the watch company. >> i don't own any rolex because

it is public. liz: coco goff put this on the day she won the u.s. open. you started fubu in your mother's basement. >> yes. liz: you convinced her to mortgage the house. >> yes. that's right. liz: you grew it into a multimillion-dollar business. let's talk about retail and how you view it? >> it is back. amazon up 40% year-to-date. nrf is expecting another 4% increase. people are at home now. they're working on computers at home. they want to see people. my staff is probably half the time is at a mall during the time they should be working but you should give people a different experience. listen, macy's should have a live stream from macy's. everybody hooked up into their instagram. they walk down a runway and people can buy everything they're wearing once they purchase it at macy's. it is the most popular store in the world. it needs to be a place where people are going, and they're

experiencing something they cannot any place else. >> but the shopping malls are in trouble. these big box stores are not doing so well. what the most popular space to find right now is small retail. they're acting differently. they're almost like a showroom. liz: pop ups. >> people are back. people love to shop. everybody wrote it off. guess what, they were wrong. >> yeah. >> what barbara is saying. i'm getting into a restaurant business t started here in new york, brooklyn dumplings, 400, 600 square feet automated. less staff, food costs are lower. i'm finding for demand of that in every city. it is a small footprint. >> so competitive to find those spaces. everybody wants them. >> because everybody wants to be retail. my companies i want to be 350% direct to consumer, direct to retail with consumers. i'm acquiring customers that way. liz: will you accept bitcoin at these pop-up areas? >> i would.

i believe, all these shenanigans and rogue crypto cowboys, they will all be gone in a few years. the sec is running around the world after all of them but i believe in the potential of digital payment systems. bitcoin the granddaddy ethereum, many others. the potential of that is not going away. people want this asset class. after the trials are over, founders, cowboys are gone they would be a real business. >> i lost $50,000 in bitcoin. i don't like the whole thing. >> i think it will be a good business. i'm dabbling in it. i'm educating myself more is it. >> dabbling is code for losing money. >> i'm actually up a little bit. but you know kevin is right. they will clear a lot of the people out of the way and sooner or later it will level off. it is too big right now and too many people are aware. you think it will go away? i highly doubt it. >> barbara has real estate, when you get to her house, you never seen it, her dining room table is made out of gold bars.

>> you can say what you want, unlike bitcoin the reason i pit all my money in real estate a very slow way to get rich. you can't say that about bitcoin. liz: real estate implosion, oh, it will take too long, it is not a bubble because it takes forever to sell. >> saying residential real estate, not commercial. >> i like retail, i like industrial, i like storage space, i like apartment rentals i like it all except for commercial. liz: the stock market at the moment we have a sell qualify. the dow is down 376 points but how much do you guys invest in individual stocks? >> i'm into people and companies that create a universe. apple creates a universe. you go in there buy something with a fitness component like a peloton. you watch tv and you have your watch on and track your child. i'm into things that create a universe. liz: so you don't lose the kid? >> that's right. liz: barbara? >> i like investing in stocks

but i limit myself to 30%. i like finding my own gods to serve, for me that is real estate. i used to incest only in new york. the last five years i spread out into three different cities where returns are better because new york -- liz: what cities? >> pittsburgh, you know pittsburgh, indianapolis and columbus. those give you 20% returns per year if you buy smartly. i just love those towns. liz: columbus, ohio. >> you would know. smart people there. liz: that's right. channel 6, that is where i got on my-air start. >> better run back. liz: abc. kevin? >> i have 50% of my portfolio in equities but i now use indexes. i created most of them. it is o shares. i have european indexes, tech indexes, derivative of the s&p. i want diversity. stock picking is really hard, really, really hard. rules based indexing i think is the future. that's for me. so i don't worry about it. market is volatile but i own the best stocks in the index.

i sit back let them do their thing. >> come with me into real estate. i could pick smartly for you. >> i have a third of my portfolio in real estate. >> amazon, catch us on rings, feed us at whole foods and deliver our boxes. it is a universe. liz: a little bit of a ftc day today. would you buy it here? it is down 4%. >> i will, probably will. liz: you're on the air right now so you can't make a trade until after the show. >> is that how it works? liz: is there anything you guys totally avoid? >> yeah. yeah. i try and ad void things that i don't understand at all. liz: like buffett. >> if i can't get it in 90 seconds i don't invest in it. if you can't explain it to me and you tell me look, this is something you got to own and i don't get it, there is no chance i'm putting a dime. >> i don't want anything that is a fad, period. if it is a fad, everybody talking about it. just like kevin if i have to educate myself on it i have enough of what i currently have

that i still have to educate myself on. >> for me, just a matter of trust. i trust the individual, i invest. i don't trust them i don't invest. >> i don't invest in anything that has that do with kevin on the show. liz: [laughter]. i think this is worthless now, because i may have to -- >> great color for you. perfect color for you really with your hair. liz: i wish green were the perfect color for the markets now. we have a selloff. i want to thank daymond john, barbara korb ran, kevin o'leary, what a great conversation. major averages down five of the last six days. [closing bell rings] s&p looks to close down 62. nasdaq down 199. big story with amazon. that will do it for us. ♪. larry: hello, folks, welcome to "kudlow," i'm larry kudlow. all right, e