good night, chubby." >> sugar bear has got, like, chew -- >> jimmy: "good night, chubbs. it's great. >> yeah. >> jimmy: i got to talk about your shows. let's talk about your daytime show. >> right. >> jimmy: now, it's "anderson live" is what -- >> "anderson live," right. it's syndicated. it's on in new york. it's -- 1:00. oh, no, 12:00. >> jimmy: 12:00. but you -- you have the audience now. it's live, so you can actually do -- if something happened in the news, you can send -- >> yeah, i like it. we have a co-host this year, which i really like. it's fun working off somebody. and we're live, so we do a lot of topical stuff. like when the guy bear hugged president obama, we flew him up the next day. he bear hugged me. he bear hugged, like, half the audience. he was the greatest guy. he just ran around bear hugging people. >> jimmy: why not, man? take that 15 minutes. >> but yeah, it's a lot of fun, you know? you can bring people -- like, you can really get involved in people's lives. >> jimmy: i've been on the show, and i had a blast. >> you were great on it. >> jimmy: it

my nickname was chubbs or woman. chris caused me a lot of trouble. so why do i mishim so much? chris was a huge presence in our family, so he lived far away, had a lot of friends, had a very challenging job, he always came home. when he came home for the christmas or wedding or baby showers, he was really there. he wasn't texting. running, playing tennis, eating, drinking, telling stories and extracting our stories. his interest made us each feel very special. he believed in the value of every person's stories. once he visited me in seattle. i took him to visit an elderly friend in a nursing home. as we waited, chris started wandering, chatting up the other residents in their wheelchairs. soon he came back and said, anne, you have to meet this guy. he is a judge. he has the best history, so interesting. we would get into an elevator in the department store. by the time we got off he would be chatting with the other riders in french. [ laughter] >> where did this come from? i think from our grandfather, chief stevens. known for his wide-eyed optimism he was a popular grass valle

among insurers, allstate, travelers and chubb corp have the largest market share in sandy's path. corelogic, estimates it includes 284,000 homes worth $88-billion dollars. economists are mixed on whether the storm's impact will affect fourth- quarter g-d-p. mark vitner, senior economist with wells fargo securities says it depends how much is shut down and for how long. mark zandi at moody's analytics says the storm may cause spikes in economic activity--repairing and rebuilding. depsite the storm-- the government is expected to report unemployment numbers for october this friday. phone companies along the east coast are preparing for the likelihood of overtaxed communication infrastructure during hurricane sandy. at&t is fueling up emergency portable generators and disaster recovery trailers to move into affected areas. authorities recommend people use text messaging rather than phoning or internet during large scale disasters. texting uses far less network capacity. several corporations are postponing earnings reports in the wake of hurrican sandy. among some notable companies th

>> chubb is a very high quality company that's going to take some losses here but probably the one with the strongest balance sheet. >> cliff, good to hear from you today. thanks so much for coming on. >> thank you. >> brian kelly, you have a trade on any of this on a day when, you know, the markets are closed? >> i think probably if you are long insurance stocks, look at reinsurers. tray tra they traded in london or europe today. that's one place to look. if you happen to have electricity or you're not in the new york city area, watch the european markets and all those reinsurers playing out there. >> mike murphy is joining us from new york city. what would you do here? cliff suggests that the likely pullback that we're going to see once we do resume actually trading these stocks would be a buying opportunity. >> i couldn't agree more. when you look back over history, when these insurance stocks tend to trade lower after any sort of a natural disaster or any disaster at all, a lot of times the first cut is the deepest and they rebound from there. i'd be looking to go in there if these

some of the ones i cover - allstate, chubb, hartford and travelers - the balance sheets on these guys are actually phenomenally, phenomenally strong. there is definitely some potential downside here, but i wouldn't really see anything probably more than a 5% pullback. if these stocks really are volatile, and get hit later today, then you know what i would do? i would be a buyer. i would watch for option volatility to be enormous. it might be a great time to buy stock, maybe sell some upside calls. > > good to have you on the show this morning. that's scott bauer of trading advantage. don't go anywhere. coming up next, which way will the market move? that's next in chart talk. traders are poised to get back on the job today. one of those traders is dan deming of stutland equities. good morning to you, dan. > > good morning angie. > > what's it been like being off for a couple of trading days here? > > it's kind of a very bizarre extended weekend. we haven't encountered this really going back to, i guess, 9/11, but prior to that it's been probably 20-some years for the market to be clos

but they say the companies with the most exposure ilude:de liberty mutual, avelers, allstate, and chubb. auden thinks those firms will bl able to shoulder a financial hit if the storm's damage mirrors that of irene. >> with every event cpanies gather more information on potential losses, so catastrophe losses become much more sophisticated. companies use those to measure aggregationf lossan ential losses from a given event. >> reporter: damage from wind, falling trees, and rain coming through roofs is covered by standard insurance policies. but analysts fear much of the damage from sandy to homes and businesses is likely to come from storm surge floodinwhich isn't. the insurance in rmationon institute estimates roughly 300,000 homes in the northeast could be vulnerable to this type of event. but the institute is optimistic many homeowners have flood insurance. >> nothing sells flood coverage like a flood and when hurricane irene hit last year there was widespread flooding throughout the northea and many people did go out and buy flood insurance policies after that.he so as long as they

travelers and chubb, not big volume in them. whitewave foods thinkds silk and land o lakes, opened at 19 and has broke the issuance price or fairly early this morning. that's a little bit disappointing. for the week s&p 500 down 1%, all of the damage today this week was done on tuesday. we're essentially unchanged from the close on tuesday. back to you. >> a lot of mid week volatility there. thank you, bob, we'll check back as news warrants, we're heading to the close. we will see. the dow at this point is up 16 points at this hour. >> a lot more to come on this busy edition of "the closing bell." >>> coming up, pointed questions, is the government using a manipulated interest rate that's costing tax mayors untolled millions? the officials sounding the alarm is here. >>> it could be the worst storm in 100 years, the latest on hurricane sandy as it barrels towards the northeast. find out which companies are best prepared to weather the storm. >>> and crumbling city? what really happened in the between the bank ceo and chairman th

chubb is the one i like most. >> karen, where do you go. >> i agree on both.ome depot, lowe's is you're late to the party there. i think we've seen in big events like this, pnc is to their benefit. after they pay the damages, they raise premiums. that's an ongoing payment stream. >> mike khouw, your hurricane play? >> i have to be the third person on that train. 11 times earnings, that's below market multiple. many of the other names, even generac, that company, i think that looks fully valued here. it's probably trading about 12 times, you know, your best case on an enterprise value base. i can't encourage anybody to go start chasing names like that. even though they probably will see an uptick in their business. stick with the companies that look like good values. >> in the wake of storm sandy, it's at a standstill. cnbc's court i reagan joins us with a lack look at what's next. >> still a closed laguardia. do employees know something we don't mow? the story coming up on past money. ♪ ♪ [ male announcer ] don't just reject convention. drown it out. introduci

finally on the insurance companies, some of the ones -- travelers, chubb, hartford have notable exposure. but again, i don't see big volume. remember something -- flooding, water coming from the ground up is not covered by homeowner policies when you get the roof blown off and the water comes in from the top, that is. but flooding coming up from the ground, not could have had. >> you hope you've got a decent insurer who won't say it is pre-existing. believe me, i've been there. for the week overall we're down. it's been -- the stock market has fallen. do you think it is the calm before the storm, the presidential election, the fiscal cliff, or do you think we could be like this for some time? >> i think the reason the market dropped this week is because the revenue numbers came in much, much lighter. earnings sort of came in this line, they were flat overall. but revenue numbers were below expectations. every day the majority of companies that i looked at were reporting light revenues. that's not baked in to the numbers. that was the big surprise this season. i'm sure there's some influe

travelers, and chubb bought back 305 million of its own shares. allstate high even despite second quarter drop in key auto policy business. it gets to push on rate increases and analysts like that news. >> thanks so much. keep it right here. >> a lot more ahead on this big, big monday edition of the "closing bell." >> announcer: coming up, bipartisan support? what could possibly have both sides of the political aisle actually agreeing on something? find out straight ahead. plus, defying gravity. markets up double digits this year. but earnings are slowing down. remember what happened last time when earnings allegedly didn't matter? why someone here is worried. and pumping up profits. the crude reality behind why gas is up while oil prices continue to slide. that and a lot more is ahead on the "closing bell." [ male announcer ] how do you trade? with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trad

ace limited, allstate, chubb and xl group.lso travelers. >> we picked out another few stories here. obviously the stocks aren't trading but nonetheless these are things that could maybe impact stocks when they reopen for trade. one of them is facebook here. the first of three major lock-up expirations occurring today. >> that's how it closed on friday. down 42% year to date. a lot of new stock is available to be sold off when the market reopens on the second lock-up which hits november 14th as well. that's bigger than this one. the third lockup is december 14th. you want to watch if executives maybe start selling stuff. lot more facebook will be available when the markets reopen. that's the bottom line. >> lot more supply, not necessarily more demand. market forces there. . . >>> pg&e saw a 79% rise in its earnings but that headline does not tell the full story. >> this is a utility company. their margins are largely capped by regulation. right? they can't just charge what they want. they're only allowed certain fluctuations.

liberty mutual and allstate just below that with about 8%, and then chubb falling just below that with just over 7%. we should also note that a report from credit sweet said that as losses start too get into the $20 billion and $30 billion, allstate and chubb will be set to benefit from some of that, though we should note with the markets just opening today, those are definitely going to be some stocks that people will be watching as the market reopens and some of this damage is to be expected. of course, residents no doubt still reeling, and governor christie said fema will be a strong force here, no doubt, for many, many months. and he kept stressing that word, noting that this will be a very long recovery process. people are just starting to try and put the number on very early estimates. back to you. >> kayla, it looks like we're taking a few hits from your shot, but it is surprising to see the lights behind you. i don't know if you can still hear us, kayla. have they had these lights on the whole time with generators? is that a new change? looks like we're losing kayla's shot. >>

machine thing, but you needed the 20 guys to open up the insurance stocks, allstate, progressive, chubbou take a look, you can see allstate opened down, then rallied since, but the volumes very, very light, nothing abnormal, so if you look at all of them, most of this em -- not a lot of volume, not a lot of activity, and i will continue to drive on this theme, what i am hearing is people are sitting on their hands and don't expect a lot of movement until early next week. >> we want to bring in jim paulson, chief investment strategist, brian belski, chief strategist with bmo capital market guys. good to see you guys. jim something wrote how great does that opening bell sound? it was a good thing to have. >> i think so. ty end of the day i think this is more a human tragedy and t-term economic hit, because it wasn't a financial panic which closed the market, which a lot of closures have been panicky. but even though it was closed for four consecutive days, it was opening elsewhere. and every day we had pricing action going on somewhere. futures here, overseas market, that allowed us to ke