male/female polarization. charles: the gender divide is amazing. last word with 20 seconds to go heather. >> i disagree. i'd say they totally missed the boat. had they picked this word in 2017, or 2021 it would have made more sense but we've got a red pill population and the only ones who were surprised by the people still in that little msnbc bubble. charles: what's the word then of the year? >> it's harmony. charles: [laughter] see , she came in and look, you look harmonious too. >> thank you. christmasy. charles: ladies great stuff. really appreciate it. thank you very much. folks markets relatively flat. we'll see if liz claman can change that. liz: my word of the year is chocolate. charles: it's always chocolate. liz: [laughter] i know. >> hard to disagree with. liz: what do you want, you know? i'm a girl who loves chocolate. charles: i've gotcha. liz: not the fancy stuff, it looks like we've got a horse race underway as we kickoff

the final hour of trade folks. the major averages trying to stage a come back with just one hour left. the dow pairing its losses. it had been down 123 points at the session low right now it's down 57. the s&p, i mean this is a horse race right here. straddeling the flat line overcoming 15 points of losses, and the nasdaq has been in and out of positive territory. it just punched up about 18 points. perhaps the most notable of the majors might be the dow though when you're talking about substance here. the point loss right now only works out to barely a fraction of a percent but the dow is on pace for a seventh day of losses. that would mark the longest losing streak in more than four and a half years. the s&p kind of struggling too, and this point situation where it's just at the flat line, it marks the fourth session out of five if it ends down that the broader indexes found itself in the red. you can't blame a.i. chipmaker broadcom for any of the crimson you see on the screen because for the first time ever,

the stock is crashing through the doors of the trillion dollar market cap plug today. what you see here with this 24% two-day gain follows broadcom's q4 earnings report which saw a 28% jump in profits and a dividend raise. the company said its new deals to provide open a.i. and apple with custom a.i. chips will be a rain maker by 2026. the stock, what's so hot is topping the s&p, the nasdaq 100, it had landed something like 17 analyst price target hikes at last check and it's on track for a record close. the nasdaq got investors all geeked up earlier though when it hit an intraday record but since retreated and now, trying to make a come back here of 21 points. it needs to make that record a gain of about 132 points at the close. that would mark its 38th record of the year. we should take a look at bitcoin. the bulls are still stoking the momentum fires and the crypto is jumping 1.7% at

the moment but keep in mind here at 101, 363, the last federal reserve meeting of the year is next week and while fed funds futures show odds of a 25 basis point cut stand at 97%, the commentary that we witness get during chairman jay powell's news conference thursday could jolt everything from bitcoin to equities to bonds. for this week, we're not really seeing muscular moves like last week that we saw. we do have the dow and the s&p looking to close out the week in the red. nasdaq looks like a tiny gain here of a third of a percent but if you flip it over to small and mid cap taking the biggest bruising, russel looks to close out the week with a 2.7% loss. i want to look at this move in the 10-year yield as stocks meander the yield on the benchmark treasury is moving higher by 7.7 basis points. now, yesterday, it closed at 4.32%. we've got 4.405 at the moment. so here is the question.

with two huge events next week, first the federal reserve rate announcement wednesday and friday, november pce. the last big read on consumer inflation for the year. what should investors prepare for when it comes to the markets? let's get right to the floor show joining me now is fitzgerald group principle keith fitz-gerald gerald and gene goldman. guys this caught our eye today. doing headlines. so here is the first one. stocks gain another 20%, embrace the bubble and then there is this one. on the same website. why markets face a santa slump? keith, what do you see in this , i don't know looked like a market version of a test to me. >> [laughter] well that's a great way to describe it. i'll have to borrow that. you know, any time i see conflicting headlines particularly when they are in the same news source, that reinforces the trading action. are we up or down? well the answer is mixed because the markets don't know what

they're doing so the journalists covering it really don't know what they are doing so to me it's a sign that you just take a deep breath, you chill out, find the great companies and you make your bets very very carefully. liz: what do you say? it feels like we're mid-race. so, what do you do if you feel like we're mid-race, keith? and we're still on the horse. >> well i think that's a good place to be in, right? ularlyf you got the right names and the great quality names. the stuff out on the margins somewhere, liz, you don't want that because the risk you don't need in your portfolio but the message here, the reason why trading is the way it is today is because the markets are setting up for 2025. they are trying to ditch the names they don't want in their client reports come 12-31 and get the names they want to keep clients happy. liz: gene? what's your base case for early 2025? is it sort of the remnants of a santa slump or is it embrace the bubble? >> first of all liz thanks for having me back on your show. liz: of course. >> as we head into 2025, to me the stock market feels like a new years resolution full of

promise but challenges we've got to work through. so if you look at 2025, stronger than expected u.s. growth, moderating inflation, fed easing. take that together it's typically a good market return, however expect volatility near-term especially as we kind of see uncertainty around valuations, around possible correction. for me i'm looking at market concentration, near-term rising bond yield as you highlighted earlier. strength in the dollar and think about this. valuations are so high right now. we all know today is friday the 13th. markets today are so jittery. you would think they just saw their price earnings ratios in the mirror, but the good news is any pullback we see remains a huge buying opportunity because the reasons i mentioned before, and there's a ton of cash on the side line waiting to get a better price. liz: okay, i feel like over the past year any dip that people got in on and keith, you've been pounding the table on this behavior, has been a smart thing to do. that said, keith, there are a

lot of people who are waking up and thinking i missed the boat i've got to pile in. doesn't that signal to you when you've got sort of the slower money coming in that it's reaching a bit of an end? or not? >> no. actually, having studied this my entire career, i mean nearly four-plus decades at this point, that's the exact opposite. whenever the fomo crowd warms up and you're in the game that tends to be a tailwind. so again, to me, this is a very logical point where we find ourselves right now holiday trading is coming a little early. i agree with gene wholeheartedly the best is yet to come. you've got to pick your bets carefully but i think you don't have a lot to worry about over the next 12 months. liz: well volatility has not been something to worry about. i mean, we are looking at it. i mean give or take, a pop here and there. the vix is still below 14 at the moment, and it just, when you see , i mean that's intraday but if you looked at year-to-date you'd see that it really hasn't done that much, in fact quarter

to date down 18% year-to-date up about 11%, but all right, gentlemen, so now, we know how you feel. jump in on the dips. it's a positive 2025. where do you go from here, gene? where are you jumping in and what are you grabbing at? >> sure for me it's simply this. just where we look to at risk. be definitely selective in large growth valuations are extremely high and growth but add to value. add to small cap. add to mid-caps. we also embracing alternatives to smooth out volatility and here is the most boring thing to invest in. fixed income. i know yields are picking up, but fixed income is so attractive especially high-quality. we are raising the duration in our portfolios. we look at the fact that there's huge foreign buyers of treasuries. we've got only one week this year that we've had bond fund outflows. a lot of demand plus we're at 2% over inflation on the 10-year treasury yield. from a sector standpoint we love financial. we've been saying this all year. technology is a little selective.

the sector that scares us so much is energy. more supply coming into the market. energy is very scary. especially on friday the 13th. liz: interesting. although i did see that natural gas futures were the highest in more than a year. there was a bigger than expected drawdown in domestic stockpiles, so if you look at it, what 3.4 something, british thermal units $3.40 per british thermal unit, plus it's cold, but again, you can't really bank on that continuing, so it feels like energy has been very shakey. keith? what do you like here? we just got costco earnings. that has been a favorite of yours along with palantir, i know but we could talk about palantir until the cows come home but give me your thoughts on costco? >> well costco is brilliant because membership is really the key here. you're talking billions of dollars every single quarter, but the online is up 13%, customers continue to go into the store and buying more than groceries, the throughput is

fabulous, holiday sell-through is fabulous. this company is hitting on all cylinders so i made the remark on your show a long time ago we'll go to a thousand dollars and here we are. we're right on the cusp of that. liz: 991. >> this game is just getting started, liz. i like it and hope i buy more shares. liz: and aside from costco i should bring up palantir because you have been one of the biggest supporters there and i must say, you've made it through thick and thin. you've added consistently to this position. this is one of the best performers on the s&p. word is it's going to join the nasdaq 100. it has gone from something like $18 to where are we, $74 in a very short period of time. you take anything off the table? >> no. right now we're continuing to build intelligently because $100 won't take much energy to get above that and the consumers customers continue to run to the company. i think the executive you had on your show here recently ceo alex

karp is unapologetically patriotic and he knows where this is going. he understands the game he's playing and he's absolutely out for the shareholders. you don't see that very often, so when you find a company like this , i say you want to get on and ride to the buzzer just like at the rodeo. liz: it's great to see you both keith and gene, wishing you a very happy holiday if i don't see you between now and then. >> you as well, liz. liz: restoration hardware turning the tables on its naysayers find out why rh is putting the screws to the bears by hitting a 52 week high and buy now pay later company afirm striking a $4 billion mega deal with the private credit giant to power its fast-growing transactions. former paypal ceo bill harris is here to put the boom in private credit loans under the microscope. it's a fox business exclusive. with the dow jones industrials down 57 points the nasdaq holding on to gains here, we are coming right back with so much more stay with us.

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liz: fox business alert. no couch potatoes in sight when it comes to investing in shares of rh. the home furnishings company previously known as restoration hardware is off the highs of the session but still jumping about 14.7% after it swung to a profit in its fiscal third quarter. despite describing the current atmosphere as "the worst housing market in three decades" rh also gave stronger than expected fourth quarter revenue guidance. and jpmorgan says the housing market though won't get any better next year. the bank expects a less supportive demand supply environment for u.s. homebuilders in 2025.

jpm blames barely any improvement in key areas that drive housing demand. mortgage rates, affordability, and job growth. the firm downgraded d. r. horton to under weight and toll brothers to neutral so down 1.6% and toll brothers getting hit to the tune of just under 4%. jpmorgan is taking a gamble on entertainment upgrading the casino and gaming business to overweight from neutral and boosting its year-end 2025 price target to 27 bucks from 19. the stock right now is at $20.58 a gain of 2.8%. the success of espn bet is apparently the single biggest driver for the sports betting company's stock. a good finish for upstart. that stock hitting a 52 week high, needham upgrading the a.i. lending platform to a buy from a hold and set a street high price target of 100 bucks at $84.92. the brokerage says upstarts

balance sheet is transformed given loan sales and debt refinancing. we're going to be talking a lot more about loans and debt and fintech coming up with the former co-founder of paypal. big tech no longer has a lock on a.i. we are about to take you live, rocky balboa move over, a meat wholesaler in chicago that's using a.i. to sizzle up its business. and really it doesn't take an a.i. chatbot to figure out the 10 most searched investing terms on investo-pedia this year. was it nvidia, tariffs, doge, bitcoin, gasparino? okay, some of those i just said are absolute no's, some are yes. we're about to reveal the brand new year end list a fox business exclusive with the chief caleb silver.

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liz: the ai-powered gains for tech giants like, you know, nvidia, microsoft, are starting to get a little skimpy these days but mid cap companies are now grabbing the a.i. baton sprinting away with it. witness voice a.i. platform sound hound shares, not only are they soaring to an all-time high of $17 today. it's up $3 right now and 36

cents, 24% but the company which supplies voice-enabled a.i. technology to drive-thru restaurants and auto manufactures has enjoyed a more than 700% jump year-over-year and a 76% revenue growth, so it's not just oh, the stock is jumping and there's nothing behind it. it has had just a roaring rally and its brought with it a commanding $5.7 billion market cap. now, small businesses are sinking their teeth into a.i. and the profits that come with it. fox business kelly saberi is live at northwest meats meat locker in chicago to tell us how are they using the technology, kelly? reporter: hi, liz. yeah, northwest meat company is a small operation that has big goals. they have 1,300 different products so you can imagine it's not only difficult to remember all of those products and to take down orders but it's also tedious, making it difficult to not only train people to do

those tasks but to hire new people to learn all of the different codes needed for their system. this as the price of hourly wages has increased 23.5% since the pandemic. not only has the meat prices gone up as well, but so has shipping, so what does the company do? northwest meat company has turned to choka a.i. paying $1,100 a month for not only an app-based system but the software that allows them to use the a.i. to transcribe e-mails, faxes, voice males, either while they're working during the day or when they're gone for the day. still co-owner andrew neva has to make sure the orders come in correctly and train the a.i. system like it's a new human employee. >> the think about a.i. is it's a wonderful tool but again, a.i. is meant to help you getaway from tedious tasks. the overall management part,

that you'll never getaway with and that's where the human element comes in and where you need humans because computers just don't know everything. reporter: now this is important that he brings up the human aspect because there are no robots touching these fine dry aged meats, so just rest assured that the meat that you're getting at your next restaurant and dinner is not being touched by any maybe you would call them creepy robots. this is all the human side and of course during the day, they are answering the phones themselves but it's rile law enforreallyhelpful. liz: it's great when they can use it to their advantage and it's fascinating and i'll take the petite fill a mignon in there. stay warm in there, kelly. as we barrel toward the start of a new year, i have a question for you. if you had to buy one stock

today and then hold it for the next 10 years, which one would you choose? that's just one of the many questions financial website investopedia asked their 44 million active monthly readers and the answers to its entire year-end survey could very well open a window for you into the markets in your future. here to pullback the curtain in a fox business exclusive is editor in chief caleb silver. well that's an interesting question, buy today and then hold. don't sell for 10 years. how many people came in with the survey and what did they say? >> we have thousands of people that answer our survey and are you bullish, bearish and what stocks do you own and what would you hold for a long time. what do you think took the top spot? the biggest stock in the market, the story stock for the past few years that's nvidia but when you go down the list there's fascinating names. i saw palantir cracking the top 10 and costco which shows you an older investor wants to hold that stock for 10 years, fascinating look at what people

are thinking about and feeling and where theory money will be the safest and grow the most. liz: i would imagine your readers are pretty centroid and project to see what kind of revenues to be on the horizon. how do they make their judgments? nvidia seems very easy so it came in at 16%. the next nearest choice was microsoft at 8%. then apple, berkshire hathaway, at 6%, amazon. so i think that's really interesting. the respondents probably have done a lot of research. >> these are self-directed investors, active investors who like putting money to work so they love picking their favorite stocks and guess what? this list looks a lot like their top 10 today which tells you they are comfortable with their holdings which goes back to something i heard you talk about earlier. any dip in the market is just being bought up. it's just relentless bid and relentless bid after maybe 25 of the biggest stocks out there plus outliers, the micro

strategies of the world, super microcomputers of the world. liz: the question is nvidia has done unbelievably well, 169% gain this year. it's a newbie on the dow jones industrials just joined in november yet it outpaced everyone on the dow on the blue chips with its gains, and you know, you had the only one that did better overall when it came to the nasdaq was app-lovins 725% jump. not the most well-known name, but pretty darn fascinating. so, here is some of the top stock winners year-to-date. everybody can see of course palantir there's vista, nvidia keeps jumping up there at the top, arm holdings, very interesting, a lot of technology here. let's talk a little bit about the terminology that people search for on investopedia. quite frankly i use it all of the time. everybody should go on and it's rock solid and brilliant and

very very very smart so what were some of the choices that people said well i guess you could just aggregate. >> we look everyday what people are searching for , what trends, terms or topics. liz: top 10 terms. >> top 10. liz: starting with number one? >> guess what it's inflation. top of mind for everybody in this year, and it actually bled through into the election. it wasn't just the fact that people were noticing that the growth rate was slower, but things didn't feel cheaper to them and then what came right after that? it was tariffs, because of the election, right? so you were making a choice for a lot of people. i'm not comfortable with the fact prices are still high on the flip side, we know tariffs will come our way, if they elect president trump in office that's what's happening. tariffs is trending very hard right now. i think it'll be a big one in 2025 but when you look at the top 10 and what people were kind of feeling at different points of the year, which terms and trends were interesting to people and for the longest period of time and which ones kind of spiked and went away?

liz: stock split which comes after nvidia because nvidia did split and people said should i buy before it splits? that i would imagine but what wasn't on that list, let's put it backup again, federal reserve, i thought that was interesting that the fed wasn't on there. bitcoin came in at number nine. homeowners insurance at number six. the fed is nowhere in there. >> right the fed isn't in there but what is in there is national debt which is something nobody was talking about, right? people got used to the fact that the federal reserve had interest rates so high to tame inflation and then it became a waiting game of when they cut, are they going to cut finally they did in september. people were beyond that past that thinking about other things and one thing i also saw fascinating this year was the money line bet which is a very big term on our side. liz: one of the top -- >> tenth on the list why is that? because this is the year sports betting and betting on the election and trading all kind of smashed together, right? finally they have all been cousins at the same barbecue but this is the year the betting

polls for the president were actually more correct than the actual polls. the betting odds i should say were more correct than the actual polls so people were looking at money line because you could make a money line bet on trump vs. tariffs. liz: explain to people who may not gamble and don't know what money line is. that's the i believe the cleveland browns win or lose. >> of course you do. liz: but it's not oh, but -- >> it's a straight bet. liz: no detail. just straight. >> it's the straightest bet you can make in gambling. the money line bet. what does the line say let's bet that line win or lose. it's not about points or beating the spread. it's the straightest bet you could make and people were making that bet, on poly markets, robinhood, different places, you could make the bet and those betting odds were actually more correct than the actual polls. liz: we've got a new incoming president, obviously, donald trump and the word tariff was one of the very top searches, people are concerned and interested and wonder what the implications are. do you expect the trump presidency is going to be a real driver of investor questions in

2025? >> 100%. why? because it looks like a risk-on attitude. we've seen the rise in cryptocurrencies. we've seen the rise in a lot of stocks since the election but also less regulatory environment, less intense, you could see a lot more deal making, you've seen what's happened across the crypto patch so people who haven't already been into the market are going to come into the market and into the crypto market when we survey our readers the number of people that were interested in bitcoin went from 8-9% to about 25% price drives interest, so you'll see interest across the capital markets i would say in the next 12 months. good news for business journalists but also for people who haven't entered the market to learn about how it works and when people are looking these terms up they are making a decision beyond the decision, when they are looking up stock splits that's an intentional investor saying what actually happens when a company splits its stock? is this a good time to investor not so you know there's an intention behind every one of these words. liz: we just showed once they looked up tariffs and they look at the history of it, 65% of

those surveyed thought that any potential trump tariffs be a negative, correct? >> yeah that's right on the flip side they also see corporate taxes, lower corporate taxes and lower individual taxes being a positive. that's the see saw people were weighing as they went to the polls, and we know which won out on that but our readers are very into this. they are self-directed and want to make choices but understand what they are doing first. this is so fascinating because behind every one of these is somebody making a move with their money. liz: you guys when we or anybody throws out a term you don't understand whether it's derivatives or who knows stock split, whatever it maybe go on investopedia. it's like the oxford english dictionary. thank you very much happy new year. >> same to you. liz: one thing not on the list the term private credit. but there is a good bet it will be on that list next year. everybody suddenly is talking about it because non-bank lending, private credit, is exploding this quarter.

the latest $4 billion loan from sixth street is private credit the new bubble? the former ceo of paypal, bill harris, now runs his own fintech. he's up next with a judgment. and while studying at syracuse university, this week's guest on my everyone talks to liz podcast drops tomorrow. turned her, are you ready, ms. greater syracuse beauty queen crown into the start of an acting and singing career. boy was it a tough climb. eventually, she climbed to reality tv as one of the real housewives of orange county. look it was just a battle to initially make a living in her career. today she's a huge multi million dollar success but now, heather du pseudomonas brow is fighting just as hard for her children. you've gotta listen to this it's going to make you sit up and take note. my brand new podcast episode drops tomorrow listen on apple, google, spotify, iheartradio wherever you listen to your podcasts.

folks we are coming right back with so much more and yes we are talking about private credit and we'll explain it all talk about the afirm deal and more. stay tuned.

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liz: afirm has just scored its largest capital commitment to date. private credit firm sixth street capital agreed to buy $4 billion of consumer installment loans from the buy now pay later firm. the deal will provide afirm with additional off balance sheet funding and the ability to extend up to $20 billion in loans over the next three-years. at the end of the third quarter, afirm's total funding capacity was $16.8 billion. shares of the buy now pay later stock are rising about 2.25% on the deal but look at what afirm has done quarter to date. remember this quarter included cyber monday which was huge for afirm and we can see over the past two months, 67% and

quarter to date about 72% and as fintechs turn to private credit firms to borrow more money to grow because it's a hot business let's bring in co-founder of the original fintech, paypal co-founder and evergreen money founder and ceo bill harris. bill, great to have you back. before we talk about buy now pay later as a business, let us just talk a little bit about private credit because its been most talked about, especially ramping up in the second half of 2024. is it starting to look like a huge opportunity for a lot of businesses or a little bit like a bubble to you? >> i think it's probably an ongoing opportunity, and first of all what i'd just say about affirm's deal with sixth street, it's a real feather in max's cap. liz: the founder of affirm. >> founder of affirm. he was also my partner at paypal in the very early days so he was

at paypal at the very beginning, but what you're seeing in the private credit market is that people, hedge funds predominantly or other non-bank lenders have a great deal more flexibility and agility to get in and make deals, creative deals like this one, partly because they're not constrained by some of the regulatory incumberances of traditional banks. liz: as you look at the traditional banks many of them, whether they be wells fargo or jpmorgan chase they've started to get a little bit tighter with their wallet, and they've become more conservative for whatever reason, maybe they predict there will eventually be a slowdown not necessarily recession, but they are trying when it comes to picking the right people to whom they should loan. you bring up this point about these non-bank lenders for those of you that don't know what private credit is, do they get a better yield, do they not?

they charge more for some of this money but they can be more creative like this affirm deal which is very complicated but very smart to max's credit. >> yes. yes, and one of the interesting things is you're seeing so much of what has traditionally been in the banking sphere start to diffuse into non-banking players as well, so for instance affirm. what you now have both the back end and the funding being done for bmpl transaction at a firm, the back end is being done by a non-bank and the front end obviously, affirm, is a non-bank and so that entire piece has been taken away from the banks, and it's very interesting, because actually what's happening is that they are still using the bank rails and the card rails in order to make their business happen but

they're just sort of using, it's called opn, other people's networks. if you can use other people's networks and build your business on top of it, it's a great way to build a business quicker. liz: you've been building evergreen money and basically you offer high yield, checking accounts, you're sort of a bank a jays entertainments in a way and it's really fascinating to see. are you seeing kind of weakness in your customer base? any kind of concern there? and on top of it, we're coming up to the end of the year, and people should be getting ready to make sure their finances are in order and do some taxes, correct? >> absolutely. i think it's very very important to think about taxes right now, before december 31. for 10 years i ran turbo tax and it's a great piece of software and we thought we could, and we could, find a couple of hundred dollars of savings for you, with things that you might have missed. every year, however, i would talk to people and say you know what? if you planned ahead, you could

save thousands of dollars. the thing is and everyone says oh, yes of course a couple of times i went out and i built a financial tax planner. every time it was good software, every time the sales were approximately zero that's because, that's when i learned the difference between a should do and a must do. you must file your taxes. you should plan your taxes. nobody does. so don't make that mistake today. there's a bunch you can do before december 31 and it'll save you a lot of money. liz: where can they find out more? do you have it on your website? >> sure. evergreenwealth.com but i can just tell you quickly, the goal is in capital gains. how you accelerate or defer the capital gains is really the biggest lever you have in terms of reducing your tax bite. liz: the tax exposure because you want to glean some money, take it off the table but don't get socked with taxes. great to have you on, bill.

thank you so much for the guidance. >> thank you. liz: bill harris. elon musk's latest battle with the sec looking like a scene from animal farm. charlie gasparino has the latest on the world's richest man's newest showdown with gary gensler & company. charlie breaks it, next on the "clayman countdown." to go further, you need to be ready for what's down the road. as energy demand continues to rise, we're harnessing breakthrough innovations to increase production in the u.s. gulf of mexico. our latest deepwater development, anchor, produces previously inaccessible oil and natural gas, allowing us to deliver the energy we all need today so everyone can follow their own road. that's energy in progress. meet the traveling trio. each helping to protect their money with chase. wooo!

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liz: fox business alert elon musk revealing last night on an x post the securities and exchange commission is demanding settlement in its investigation over whether the world's ricst man committed securities fraud in his 2022 takeover of twitter. musk sharing a letter from his attorney to sec chair gary gensler which claims the financial regulatory agency required musk to "agree within 48 hours" to either accept a monetary payment or face charges on numerous counts. musk's comment complete with a teary-eyed emoji said "oh, gary, how could you do this to me" and also claims the sec opened yet another investigation into musk's business. this time it involves brain computer interface company nuerolink. charlie gasparino joins us with

what's behind this latest dust-up between musk and the sec. charlie: they have been trying to get him for a while. he's a thorn in their back. it's going to come across as a parting shot to a trump supporter. i covered the takeover of what is now x, twitter back then, and musk was kind of all over the place trying to get in and out. i'm not quite sure where the high level fraud is here. i mean, what did he do? he paid, in the end, i know he tried to get out of the deal but he paid the amount of money. investors did really well. he paid $44 billion for twitter. guess what it's worth? four, maybe. i mean, you know that. who is the victim here? so then why is gary gensler, when you know, he's barely in the office, gary gensler, right? so from his chalet somewhere, where it's the de facto

headquarters of the securities and exchange commission, why does he care about this right now? so the rule of law, and he didn't dot an i or cross a t, or file paperwork, there was paperwork filing as i recall he didn't do. i mean, it's so biza. my guess is elon musk will tell him to pound sand and he'll adjudicate and take this to court with him. liz: that's what elon does, files lots of lawsuits. stuart: system of articulation they'll file a lawsuit against him and won't set and will file charges, lawsuit before a federal judge. i've got bigger fish to fry and it'll be done next year. that's where we're going and party shot and gary gensler getting shots o the of this and i saw some tweets out there about how this is the doj indict

and sec and going to indict and first of all, sec doesn't indict and files civil administrative actions and don't go to jail and pay a fine. they're not going to fine him. average sec fine is barely a million. okay, let's say they go after for $10 billion. okay, don't think elon can afford that. this is a joke. i do love elon's little memes he put out there. he showed a picture of gary. liz liz: draw ago picture and somehows the man with a body and what's that, a snail? oh, gary the snail. >> star wars bar in the first star wars? liz: owe, yes.

>> that's what it looked like. doesn't really like like that. mr. gensler. this will go away and it's, you know, civil actions, blah blah blah. billionaires as trump does in the going for them and maybe have companies that are publicly going to be interesting con flicks. going to resign and going for them doing something for them and secretary and going for them. putting stuff in the tray and going to be interesting layers

of conflicts of interest and you can't help it if you want smart, rich people who understand business and they run into these conflicts going for them and going for them and it's reported and we should write about them and reporter and another reporter we shouldn't be assuming after every single story. going for them rich people in the administration and successful people and make a buck and save a buck. liz: we appreciate it and going for new york city and multibillionaire doing a great job. going for them to be involved and hard to control something.

what a year on wall street and we're fast approaching for the amazing year of the bulls and s&p 500 gaining for 32% year-to-date. conventional market wisdom and says buy the losers heading into next year and sell your winners and countdown closers and could be a mistake this time around. bring in research chief investment strategist sam stovall. this is interesting and we've covered this and say buy the losers good quality and sell where are winners. saying this year, no on that? >> well, actually, liz, i'm saying any time that the market was up in a particular year, you want to let your winners ride. it's only after the market has been down that you want to go from first to worst meaning buy last year's losers.

so with 2024 being up as you said, nearly 28%, you really want to be focusing on the top three sectors, which are consumer discretionary, communication services and technology. and look at such companies as marvel in the semiconductor space, alphabet in the internet area and a lot of these winners are found in a variety of sectors so it's a pretty diversified list. liz: saying let them ride but add to the position. >> they did so by about 300 basis points or three percentage points per year. liz: oh my goodness. all right. really quickly, do you buy some

losers from 20246789 liz: we go not have a down year, certainly not right now with 11 trading days left. sam, great to see you again. appreciate you coming on. folks, ton friday, the 13th, call it a bit of a draw here, s and p and nasdaq and -- s&p and nasdaq on the green and dow and russell in the red. that's it for us. have a lovely weekend. larry: hello, folks. welcome to kudlow. i'm larry kudlow. here we go again. chinese spy balloon 2.0, drones are flying everywhere. no one seeps to know friend or foe, who