regulations, all those strands of opportunities start to fade away and so too the opportunities to pull yourself up by the boot straps. folks attack med fores and american exceptionalism and to dissuade the masses from being the best they can be. it's all about individualism, individual thinking, individual opportunity, and so when you hear people say, well, you were born poor, you can't pull yourselves up by the boot straps. of course you can. in fact, look at people that come to this country. how many do so well? once you step foot on this shore, pull yourself up by the boot straps and anyone that says no, i'm giving them the boot. over to liz claman. liz: whole podcast profiles hundreds of those stories. no excuse there. charles did an episode of one of my podcasts that's the most popular. charles: thank you. liz: day after the robin lou customer and rolling forecast

and green for mostly the russell 2000 and ousting of speaker kevin mccarthy in the rear view, the bulls are holding on to the green by a gossamer thread and spiking bond yields barely retreated and point gain for the dow of nine measly points. earlier gains of a gain of about 130 points and we've not come close to erasing tuesday's 430 point loss. buyers of blue chips emerged earlier but since lost a bit of steam here. what is working kicking off the final hour of trade. to the dow heat map, there's amgen, microsoft, wal-mart, sales force, visa and nike in the lead. la guards are chevron -- laggards are chevron, walgreens, boots, 3m and not one sector getting slammed or jumping. s&p up 18 points but yesterday it lost 58 points and nasdaq

recovering, let's call it about 133 points of the 248 point route just 24 hours ago. tech stocks tend to dot worst when bond yields sore those yields spiked on stronger than expected august jobs or jolt jobs opening and labor reports and that's got investors betting the fed will be forced to keep interest rates higher for longer. two-day picture here and the two year at 5.09% at the moment. earlier at 5.11%. then the 10 year yield down about fiver basis points currently at 4.746%. bond king revealed his play for dealing with that scenario last night at double line capitol ceo quip "now you can buy a t bill and chill". he specifically referenced the one year.

if you look at 2 month it canner bond right now, it is yielding 5.428%. by the way, props to our floor show traders, teddy weisburg and scott shellady. they told you yesterday on the "claman countdown," go with the t bills. what's got the market tweaked or capped for the gains? 30 year yield punched before 5% before dawn touching 5.011% before retreating to what we have right now, which is 4.871%. so when you ask yourself, what should investors read into that and how should they proceed? bond yields usually when they move higher are what keep a clip or at least as we say a cap on stocks. right now, dow jones industrials up five points and the dow was down 129 points but it's also been up 130 points and see from the inter-days here that it's

not exactly stable and maybe that's got something more to do in washington dc yesterday. trickles today and led the dc hunter games begin and two candidates tossed hat in the ring for speaker jim jordan of ohio and steve scalise of louisiana both confirmed they want the job after speaker kevin mccarthy was removed in a historic vote. california republican seen here last night lost the chairmanship thanks to a group of rogue republicans led by florida congressman matt gaetz and seven other gop members that sided with democrats to remove mccarthy after the historic move, gaetz was asked if his machinations would lead to paralysis on capitol hill? >> what's paralyzed the house of representatives has been the failure of speaker mccarthy. what paralyzed the house of representatives was not taking up appropriations bills because i forced these people to take a few votes, you think i'm paralyzing the house of representatives? i think the house of

representatives has been paralyzed for the last several decades as we've refused to pass a budget. liz: but at least the house could omitter. right now the house -- operate. right now the house is frozen and no work can be done till a new speaker is chosen. bring in former house speaker republican newt gingrich that worked with a democratic president bill clinton to put into motion a balanced budget that led to something we haven't seen since newt and that would be a budget surplus. the dust from last night's historic and explosive vote is barely settling but you want to get to scalise and jordan. scalise and jordan very well liked and solid. jordan is a tough fire brand. i'm not asking you to choose, but does one have an advantage over the other? what are you hearing? >> i don't know. i don't listen that carry to what's going on so i can't tell you and i'm not sure anybody knows right now. certainly steve scalise, that's very well liked has the

advantage of being that majority leader and probably more of the institutional leader. on the other hand everybody recognizes jim jordan is very tough, very conservative, has been remarkably effective as a judiciary committee chairman. so the party in part has to kind of choose which style does it want. i think scalise would be very -- would be pretty tough but would be more inclined to a more reasonable tone and jordan very aggressive and very prepared to take on biden and take on the senate. so which does the house conference feel more comfortable getting through the rest of congress and which can help gain the 20 or 30 seats they need next year if they can effectively govern despite having occasional eruption by people who are irresponsible. liz: irresponsible and last night you called matt gaetz and the seven other republicans who

joined democrats to vote out speaker mccarthy, you called them traitors and said specifically they are actively destructive to the conservative movement and that they should be primaried out, driven out of public life. i like people that take a stand or do you care to take any of that back? >> no, it's straightforward. i'm a fan of georgia, number one team in the country. if they were playing michigan or alabama and all of a sudden the offensive guard turned and tackled his own quarterback. what would you do with him? for all of his ranking and raving, gaetz sided with the democratic party 96% of the house republicans vo voted with mccarthy. 24 republicans voted with mccarthy for every republican who voted with gaetz and yet gaetz had the arrogance, the moral certainty, the sense of

superior patriotism that he was prepared to side with the democrats. that's what happened. they gave the democrats the vote to beat mccarthy. now, i don't know how that's an advantage if you're a republican, and doesn't strike nerve nucleus that those guys currently should be considered republican. at a minimum, they should be required a sign a public pledge they will not vote for anything like this for the rest of this congress if they're going to be allowed back in the republican conference. otherwise why have them in the room. if they reserve the right to destroy the room every time they're unhappy, there's no point in them being in the republican conference. liz: newt, we're barreling toward another government shutdown when the continuing resolution of -- expires november 17th. how can any party govern with this weight of a side show going on that has definitely hurt the perception of the republican party among republicans, forget the democrats? >> well, look, they can't. that's why in the end after

mccarthy brought up two very conservative continuing resolutions. one had 8% cut and people like gaetz vote it had down. another had a 30% cut and plus it had the republican bill for the border, for controlling the border and gaetz and his friends vote that had down. by the way, the 19 republicans who were in biden districts who are supposedly moderates. they all voted for these. not gaetz and his friends. i think in the worst case, the radicals will force the next speak tore do exactly what -- speaker to do what mccarthy did and go to the democrats and find a bipartisan agreement and you can't have the whole government collapse because of seven or eight people. liz: one of gaetz's friends, you talk about friends, is reportedly a donald trump who has been supportive.

troy nils, the congressman from texas said he will nominate donald trump for the speakership. do you see under any circumstance that happening? >> no. look. that'd be silly and trump is not a silly man. the fact is the person who is speaker of the house has to be a member of the house for practical reasons, not because it's constitutionally required but because you've got to listen to all your colleagues. this is not like being president where you appoint the cabinet and fire it. in the house, you have 435 independently elected members. you have to earn 218 vo vo v vod can't demand demand them and i don't know how any outdoorer could be successful as speaker. liz: mr. gingrich, thank you very much. he's making headlines here saying a u.s. government shut down would not affect the double

a+ rating of sovereignty here in the united states and saying the government shutdown cannot ruled out. let's see what happens here. goldman sachs is concerned about all this. ask our floor show trader serge guilfoyle who is an economist. jeff of double line note that had buy the t bill and chill. and note that had the d inverting of the yield curve could be a recession warning. i used to hear that yield curve inversion was a recession warning, but explain to our viewers what d inverting or un-inverting means and why it matters to the investor out there? >> he's 100% correct. often the yield curve will invert year and a half up to two years before the actual recession and as you go into the recession, it's not very rare at all to un-invert or see what's

happening right now. right now there's a bit of run away interest rates at long end of the curve. that's because we have growth and because we have a debt problem and because our fiscal policy has been so irresponsible for so long and you just cover that had issue. now we have actual free market price discovery in the bond market getting past the short end. liz: let's see the 30 year, folks, if we can put that up. go ahead, serge. >> okay. go ahead, sarge. >> okay. i see another six months and not going crazy but if we get into late 23 or early '24 and see recession natural rights approach behavior from the economy, the fed will be forced to pressure the short end of the curve lower and this will probably finish off my own and never been to more equities in my career. liz: to that end?

>> that goes back to the '80s. liz: you're buying some and talk about wells fargo, key bank and you added more and expecting to add more before next week. >> this is one area where i'm not sure, okay. i do see with the banks, with the yield curve un-inverting is a tremendous country here for improved guidance on net interest margin and may have a bit of a rush to the upside after these guys report and after they go through their post-earnings calls and you might have a little pop in the banks. now, i also see the possibility for banks getting crushed on the commercial real estate side. not telling people get into banks and stay into bankers. they're cheap and undervalued and it's probably a good time to get long on banks for a little while. liz: you trimmed disney and raytheon. a line on raytheon and you've been pounding the table on that one on this show for a while. why are you trimming?

>> breaks my heart to get rid of a defense contractor. liz: discipline. discipline. >> i love those stocks and love what they co. i have an 8% rule i live by. when i've promised myself a long time ago through trial and error i would never lose more than 8 persian on a position for the rest of my life. unless it happens while i'm asleep, if i'm down 8% on a stock, i liquidate or pull shenanigans for bringing revenue on the options market that will improve my net basis to where i'm no longer down 8% but i have to stake some kind of sachs down 8% on the stock. liz: don't fall in love with the stock some say. others like buffet say fall in love, buy t and never say. thank you, sarge. cogent and upward mobility of the most active in the tech space and company strikes software deals to the tune of hundreds of billions. in a fox business exclusive and orlando bravo here live in studio on whether he's jumping

into ai, whether he sees warning signs or green lights for private equity, and he's going to address a moody's call that says private equity could cause systemic problems in the united states. don't go away. "claman countdown" coming right back and dow increasing gains since top of the hour and we're up 51 points ♪ ♪ explore endless design possibilities. to find your personal style. endless hardie® siding colors. textures and styles. it's possible. with james hardie™. this is spring semester

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so i decided to go with golo and it's changed my life. when i first started golo and taking release, my cravings, they went away. and i was so surprised. you feel that your body is working and functioning the way it should be and you feel energized. golo has improved my life in so many ways. i'm able to stand and actually make dinner. i'm able to clean my house. i'm able to do just simple tasks that a lot of people call simple, but when you're extremely heavy they're not so simple. golo is real and when you take release and follow the plan, it works. equity industry has long claim it had does not pose systemic risk to the u.s. economy but credit ratings agency moody says not so fast. things could be changing. according to a new report, moodies now expects a race to the bottom between banks and

private credit funds financing what they call risky leverage buyouts. banks are starting to up their p lending hit for those kinds of deals and facing competition from the $1.5 trillion private credit and moody thinks that perfect storm of event causing prices and terms and credit quality to erode and fuel risk. we know what risk did in 2007 and 2008, the financial crisis and pe firms using private chet is not new though. private equity thoma bravo overseen 450 acquisitions and fund the $8 billion purchase of cupa software and orlando bravo is here in fox business exclusive. what do you think of the warning flag? >> liz, thanks for having me and great to be here. liz: great to have you. >> look, i want to establish this onset and people not

putting in the capital, owner, private equity firm and management invests greatly in the doles and have an overleaf -- deals and have an overleveraged situation and the lenders are smart. they're not going to just jump in with over capital they're responsible for to overlever a company. now, a company can be overlevered when it misses its numbers. liz: that's true. >> i could see in the current environment where things have slowed down and cost of capital is higher, interest rates is higher and base rate is higher. i can see situation where is companies may have trouble meeting their payments. now, the key reason why there is no systemic risk in private equities. it means whole system. liz: takes it down like a whole domino. >> private equity firms are so

different from one another. liz: didn't i hear this during the housing right before the housing bubble burst, everybody said oh, it can't trigger terrible recession if the market were to turn because it takes too long to unwind or sell a home and then sure enough, we saudis aster. you're saying in -- we saudis saw disaster and you're saying in perfect situation and atmosphere, things will be fine and even problematic events global, economic, whatever. still, these companies should be able to make their payments. >> now, i cannot predict a recession. nobody can predict a recession. whether it'll be a soft landing or not. what we do for the owners of companies and an example is early 2022 and we saw a booking slow down in the report and what we do is assume that there's going to be a deep recession. and we're overly conservative

and rather than overly optimistic and we run our companies and we go back and take up more cost so that we ensure our same level of profitability in a lower business environment and that way there's a deep recession and you're not surprised. there's reason you can invest and what i'm saying about this systemic point and systemic means the whole system and not put into a whole system and there's some firms and there's industries being different ways of creating the system. liz: the due diligence and you're known at thoma bravo and where do you see opportunity right now. it looks good and what is valued in most deliciously at the moment and you're ready to take bites. >> it's an incredible opportunity for business owners, and i call private equity business owners and let me tell you why. this is an unbelievable time to build a business.

the financial markets are in disarray, interest rates are going up, things are slowing down. it's a very difficult macro but as a business owner, you can really focus on what matters, build better processes, better leadership, and you end up after doing all that detailed work with a much better business three years from now than you inherited. in the market, what's happening in software and what we focus on, software companies and try to buy the market leader and we try to buy the best innovator that we can then turn into the best business. those are not necessarily the same and what happened in software and will continue to happen is the great innovators on average lose money. they have market leadership, they have revenue growth, they have billions of dollars in revenue like the deals we've done recently. liz: but can't get the profit together. >> are not profitable and groups like ours partner with us and

create great profit for the shareholders. liz: you're a private equity guy and buy businesses out right and important to note for some of the retail investors and want to buy a piece of the business in the form of a stock. our stock screening shows and we put up some of them and maybe we can put them up again. what we did was working with your model looked at publicly traded software companies with a pe of 30 or lower, but that are profitable. so cognizant, gardener, epam, pen digital and they'll all be on the facebook page. you don't talk individual names, but what about the ai picture at the moment? >> oh, well, it's unbelievable for enterprise software. think about it. ai has just infrastructure creased and in many cases potential increase in the value of software solutions and most enterprise software you own a system of record and data and a work flow process that's very

important for that enterprise. whether you're serving a huge corporation or middle market company, now you can embed generative ai into your systems and seen your executives as your client or company can interact with the systems in a more human way. liz: embedded. don't have a to have a pure play ai company but just a company that has it embedded. orlando, come back. we love opening your brain to outrebounded viewers. thank you so much. >> thank you for having me. liz: orlando bravo of thoma bravo and dow still up 96 points. ♪

liz: box business alert. take a look at the markets here and we're a bit more solidly in the green. is that a double positive there and dow jones industrials up 84 points and s&p better by 29. still does not erase the loss yesterday of 58 points on the s&p. the nasdaq is up 166 at the moment. that's good for 1.25% gain. let's look at crude oil. cover the children's eyes here, it's falling 5 -- actually most people would love to see this. it's falling 5%. that's a one month low of $84.68 a barrel. here's what's going on. despite supply concerns according to the eia inventory report coming out every wednesday, u.s. crude oil stock prices dropped

2.2 million barrels last week. worries over demand are offsetting those supply concerns. gasoline inventories on the other hand, well they popped by 6.4 million barrels and looking at arbob gasoline, it's down 6%. 6% that's the wholesale price of gasoline. all right, within the energy field, look at bp and exploring a possible sale of stake in u.s. oil and gas pipeline and located in the gulf of mexico and bp has a current 49% share in the pipeline and uk-based company hopes to raise as much as $1 billion and ostensibly reduce debt and maintain dividend and it's falling about 3.6%. cal main shares laying an egg at this hour after the company missed estimates for quarterly revenue and sales dropped year over year and prices fell from $2 at any time 28 to $1.59 per dozen and egg prices are dipping as the industry recovers from

the recent bird flu outbreak and means that at least some food inflation is start to come down. cal maine down by 6.34%. uber adding return a package feature to the app. update can let customers leave out five prepaid and sealed packages to be returned to ups, fedex or local post-office. new feature rolling out in 5,000 cities across the u.s. and ride hailing company added a service from it showed roughly four out of five customers under 30, god, find returns very annoying. i'm pretty sure people over 30 find returns annoying because i do. all right. uber technologies up 1.25%. look at intel. intel rising after the company announced it would separate its programmable solutions group into a stand alone business and stock is popping just under 1% right now. the unit, which makes chips that can be reprogrammed after they

are manufactured would begin to operate as an independent entity on january 1 and plans to sell shares with an ipo in two to three years and acquire the business through 16.7 billion takeover of alterra back in 2015. alannis smo morissete may have d it first, isn't it ironic. is it time to break up big tech for real? internet pioneer and billionaire founder of aol steve case live in studio with his thoughts on regulating the tecti tans and how -- tech titans and how he's investing in the titans of the future. purple pride, the minnesota vikings fans, they're among the most die hard in the league and released a new vikings-themed license plate yesterday approved by the state legislator because all proceeds support the vikings

foundation, which advances children's health and education initiative and charity is not the only thing that drives the team owner who grew up a giants fan, hello. new episode of everyone talks to liz podcast just dropped, and it's with wilf with a powerful and poignant story from the holocaust and one house his dad built in new jersey turned into a megareal estate business and ownership of the vikings. closing bell 26 minutes away and dow up triple digits by 104 points and fun to watch the bulls take hold here. ♪ your best defense against erosion and cavities is strong enamel- nothing beats it. new pronamel active shield actively shields the enamel to defend against erosion and cavities. i think that this product is a gamechanger for my patients- it really works.

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( ♪ ) constant contact's advanced automation lets you send the right message at the right time, every time. ( ♪ ) constant contact. helping the small stand tall. liz: we are in the middle right now of an unprecedented legal battle as the department of justice takes on google. for now at least it appears the fight isn't scaring investors

away and shares are up two and a third% of al tafanely bet and mississippi ceo testified in the trial and said "everybody talks about the open web, but this is really the google web. she also warned that ai will further exacerbate the divide between google and other search engines. joining us in a fox business exclusive is a man at the forefront of the internet boom, aol and cofounder steve case and going into ground breaking companies across the u.s.. what do you make of this? are we seeing google broken up? >> hard to say but i'm not surprised there's nor scrutiny and the company has gotten really big and starting to have a pervasive impact in society and going and will ftc effort around amazon and it was ironic to see microsoft testify i was part of -- depotsed as part of the microsoft -- deposed as part

of the microsoft litigation and the government was trying to essentially keep them from doing some of the similar things that google is accused of doing and i'm on the side of the entrepreneur and not worried about big tech and they can protect themselves and i'm working for small tech and startup tech and opening the platforms including ai and new companies, entrepreneurs can compete and can't let ai become big tech getting bigger. liz: what's also ironic is satiana della said -- ai was the first and making it bigger and on top, they implemented ai and bing before google and now they're claiming that google's, i don't want to say leadership because those weren't his words, but google's stronghold in ai or growing hold on ai is what will make them become even more of a monopoly. >> much of what he's saying is true. what do do but google has a

dominant position well over 90% of search because they're sodom nathanial hackette and have all the -- so dominant and have all the data and searches and hard tocometer and if they leverage that into other businesses including ai plat for the for te purposes, that creteuates competitive risk and hard tore enter and microsoft has been very smart in the investment in openai but openai needs to stay open and what happens is they're including twitter now and they're open early stages when they want to get developers to work with them but once they have dominance, they tend to start shutting down the doors and taking down those doors and gates and make it harder for people to innovate on the platform unless they get paid and make sure in the early days of aol and start hod years ago and -- 40 years ago and too expensive to get online and government took action breaking up the phon phone company driving up competition and the phone companies were required to have open access so companies

like aol could ride on their networks and we need a similar i dynamic with openai. liz: aol was the first internet company to go public and back then, it became one of the best is to bees, best performing stocks in 1990s and new technology of ai, who's running ahead in the pack and don't give name ifs you don't want to. what focus because orlando bravo was just hear saying buy companies that have ai embedded and many are doing that already. versus a pure play microsoft or perhaps google. >> there's a lot of focus an the big platforms and openai and others should get a lot of attention. but most of the action is where ai meets the real world integrating into legacy businesses to allow to be more competitive and see ago lot including efforts with rise of the rest and companies all an the country using ai and announced a week ago a company called pryon in north carolina with $100 million for ai

platform for enterprise and founder created alexa technology and amazon acquired and backed a company called tempus and more precision medicine and diagnosed cancer and other types of diseases and it's not just about the coast and what's happening in silicon valley and all across the country and all sectors of the economy, including embracing new technology such as ai. liz: you've kind of become the guy known as having the golden eye. meaning you look at certain companies across the united states and get out of silicon valley and out of silicon allie and you look -- alley and look for the rest of america and what they're doing in ground breaking ways. by the way, there's a great track record and invested early in cava and some of the other names on the screen and along with cava, draft kings, clear, saved my life and changed my life and top space sitcom and sweet green. what do you look for in we have

entrepreneur watching the show right now? >> we have a seed fund outside of the rest of silicon valley and trying to invest around the country and 200 investments in hundreds of cities and building remarkable companies and harder for them to raise capital and get attention. later stage funds like the growth funds and tempus is one and temper pack in richmond, virginia, and the packaging is better for the environment and creates better solutions and it's the person and idea. at the latter stage backing companies like clear and sweet green and cava and tempus and others. there's a bit more scale and how big could this be. with our capital and network we can bring, how big can it be? a lot of momentum has shifted towards policy. back to what we talked about earlier that big industries now healthcare and food and agriculture and financial services and transportation and

education are regulated businesses and entrepreneurs need to understand and navigate that and the fact we've been in washington dc for four decades and revolution based in washington dc and sensitivity skin sights and can be helpful with the companies moving forward. liz: don't want to sighmy the growth and -- cyme the growth and keeping everyone state in front. thank you, steve. >> yeah, thank you. i'm not used to being here and i'm used to zoom interview. not so bad to be in person. liz: not so bad. great to have a voice like yours. thank you. witnesses that lost money after the collapse of ftx being called to the stand right now in the fraud trial of founder sam bankman-fried. will former president trump spokesman anthony sc scaramooche be called up. the nasdaq is up nearly 200 points.

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against him. charlie, right now, we have people who have lost money on the stand as we understand it. it is federal court. so we only have those lovely real-life pictures. >> i know. of what? liz: courtroom drawings -- >> are pa threat thick. they don't look like the way people look. liz: is there a reason for that? >> particularly at cnbc when i was covering these trials we would -- liz: the guy looks like gaspo. >> he looks like me. looks a little too italian. liz: sicilian. >> sicilian for me. you know what they say, you know, we're all the same, jews and italians, right? you have heard that, haven't you? liz: oh, sure. >> we share common lineage and temper. liz: it is all about food. >> speaking about italians, and any scaramucci not going to be called for a witness. liz: not? wasn't he supposed to be on the list? >> he was on the list. here is what i know inside of

the company and inside the circle of prosecutors. scaramucci gave four hours of private testimony i guess the best way to put it to the feds about what you knew about sam bankman-fried and what he knew about fftx and alameda that brew blew up that was the -- he is one of the people -- liz: one of the victims. >> so he sat there. he told them everything he knows and basically what he doesn't know about the operations and they have informed his lawyers he will not be called. could that change? of course it could at the last minute but you know doesn't add much. i tell you, i guess he could be called as a defense witness but what is he going to say? this guy lied to me and took my money? so he doesn't really figure in this thing. what's interesting about this whole case besides the fact it is an insane fraud, it occurred over, probably was a fraud for

many years that gary gensler the sec chief despite meeting with him didn't pick up and his investigators didn't pick up. liz: neither did sequoia, smartest vcs in the business. >> sequoia are not the sec. some people are attached to ftx and sam bankman-fried and innocently attached and have their reputations being marred to a certain extent. if you talk to anthony, i'm embarrassed. he was sort of, basically introducing sbf to some of the top people on wall street. liz: at least. >> at least you know, all sorts of people. he was speaking at hills conference, the whole thing. i bet you o'leary, kevin o'leary would say the same thing. $15 million he was paid by ftx

and sam bankman-fried. i'm sure you can't say he knew what was going on. tom brady a lost money involved with this. a lot of corporate reputations are -- unfortunately anthony's is he will not be a witness. liz: who will? >> that is a great question. they don't need many more beyond the obvious, carolyn ellison. family members will be defense witnesses. i don't think the family members will be witnesses for the prosecution. ellison is essentially the big hammer here and we'll see how credible she is. i think, if sam bankman-fried is banking on anything it is somehow she falls apart on the stand. that you know, when they throw stuff at her that she doesn't sound like a real, you know, credible person and that she knew more than she, and she didn't tell him about what she

knew. i think that is kind of their gameplan. liz: i see. >> we'll see. it is crypto trial, one of the trials of the century. liz: thank you, charlie, very much. >> okay. liz: closing bell. we're four minutes away. markets in the green. dow looks to snap a three-day losing streak. gold dipping slightly after falling more than $100 in the past two weeks as the zero yielding asset looks less attractive in a higher for longer interest rate environment. supposed to be, wouldn't we say, i know our countdown closer would certainly say it is supposed to be a safe haven. he is bullish on it. rick pitcairn. what is it about the yellow metal that says you should go in now? >> hi, liz. it has not done what we thought last few months, the initter national politics, a lot of people don't want to hold the dollar. what is the asset, what than diversify their portfolios? gold will continue to be over

next two or three years an attractive asset. liz: when you say international politics i need a clarification what that means but the dollar has been a much better place to hold on to lately. it is down today but it has been at 10 month highs. >> the dollar has been strong, very strong for a long time but you're seeing different people around the world, "brics" consortium, a lot of people want to dedollarize. what will do well not in environment where dollar falls off a cliff but where it loses value for a time. it has been up 12, 13 years? i don't believe it grows to the skies. i believe it is cycles. we need to think about what will work in our portfolios when that happens. liz: as i wonder about gold, the best way to play it through a fund, these interesting funds do double shorts, double longs, tell me about the one you're recommending? >> that is one etf you can pray

it long. you can play it a lot of different ways. we don't mind holding it in etf form or physical form. it is not so much physical, make sure you get the diversification punch in your portfolio. liz: let me get a macropicture from where you sit. we have the federal reserve making all kinds of noises about one more rate hike. do you believe it's coming and what does that mean for the investor looking toward maybe a santa clause rally in equities? >> you know it's hard when you have such successful investors we had so optimistic about their specific businesses. liz: steve and orlando. >> to not be quite as optimistic but i think the fed may well raise. i think we'll be in an interest rate environment that is higher for longer and i think that is going to pressure the far end of equities, seven that have done so well this year. i think they will come under continued pressure. i said that a few months ago. liz: you did. >> they haven't had the greatest summer and i think you will see

more pressure on the equity side. liz: jason call can news said a name like nvidia is way overvalued here but nvidia sup 1.25% to $440 and change. great to have you here rick pitcairn. >> great to be here. liz: kim rivers joining the show to break down a banking bill in washington that could help the cannabis industry. [closing bell rings] markets are over the hump day did it decently with a little help from the bulls. s&p, nasdaq, boasting gains for the second day in a row. that will do it for us. "kudlow" is next. ♪. larry: hello, folks, welcome to "kudlow," i'm larry kudlow. for sure most sane people wish this speaker mccarthy thing must vacate epsaid didn'