you just heard from ackman, remember stan druckenmiller, i think we have some sound. listen to how he changed his tune. he was speaking on "squawk box" yesterda yesterday. >> this economy is so overregulated, people are drowning in red tape that the removal of that and then i'm expecting serious tax reform, cuts to the corporate tax rate, a blended rate of under 10% to repatriate capital. i'm quite, quite optimistic on the economy. as always open-minded, but optimistic. i basically have a large bet on economic growth. how do i do that? i'm short bonds globally. i'm short bubbles. short bunds, short italian bonds, short u.s. bonds, that's reflective of not a disaster with deficits but stronger growth. i like sectors of the equity market that respond to growth, value and materials. staples and traditional growth stocks, and i really like the dollar, particularly against the euro. >> what he likes is working, the dollar, bonds are selling off around the world this week. you're seeing rate sensitive areas like staples, utilities, telecom getting hammered on the back of ri

we've got our news alert about bill ackman. kate?> hey there, melissa, bill ackman, who originally wanted former mayor mike bloomberg for president, said he woke up on wednesday morning with the surprise upset victory bullish on donald trump and his impacts on the markets. >> i woke up in the morning. >> i know, on wednesday morning you woke up in the morning. >> my concern about donald trump was volatility. my concern was, who knows what he's going to do? then i woke up and said, this guy just became president of the united states. this is going to be his legacy. does he want to screw it up? no. he wants to be the greatest president the country has ever had. >> among other things bill ackman said was that corporate tax reform which trump said he would like to do is one of the single biggest things that can help america from a growth perspective. in addition to donald trump's own ambition. in his conversation with our andrew sorkin, he talked about chipotle, which he likes, he says he's having a constructive dialogue with the company

ackman says there are between 500 to 600 families in need - and so far - only 162 donors."i know sometimes a lot of donors think, you know, 'is this in my budget for the holiday season?' and you know, if you go online, there is a, you know, question, 'how many families would you like to adopt?' and then 'what is the maximum size of individuals per family that you'd like to adopt?'"ackman estimates donors spend between 100 and 200 dollars on gifts when experience - the outcome is worth a little income."just the fact that you're kind of making that effort and adopting them and providing them with something for the holiday season - it's a really big, you know, it's a really big deal for those families." connor morgan reporting, as he mentioned, there are currently 162 donors. to find out how you can become the next one, visit our website, cbs2iowa.com. it's and right now in it's weekend that left them up in the polls.where the team goes it's now on this morning.and if you're in it's degrees.it's hard to believe that it's already time for high school basketball - highlights fro

we are calling both bill ackman and chipotle to get any comments.e reason why we're talking about chipotle stock. a very big at least statement in this reuters report coming from big ackman with record to what he wants to do with chipotle. back over to you. >> thank you, dom. chipotle also hired help in terms of a defense team. >> yeah. this probably implies you have to talk to your 10% holder, probably, to some degree and maybe try to basically do it in private and have something constructive. not clear what leverage. no magic to bringing people back into the stores. >> one upon a time a few years ago before valiant and herbal e herbalife, this would have been a big deal. the last years have proven as smart as the smart money may be, whether it be big ackman, you know, what he's going to try his luck now with a burrito. >> ackman has done a lot of public presentations, raised the attention of washington repeatedly. do you think that's what chipotle is trying to do, saying whatever you're going to talk about -- >> keep it from being targeted outrigh

bill ackman continues to suffer. the fund was down 3% for the month and 21% for the year-to-date, which was october 25th. yesterday another large head wind in the form of reporting to suggest that this accounting fraud investigation into the pharmaceutical company, valeant could lead to federal criminal charges against two former company executives. possibly even in the coming weeks. valeant shares down 80% for the year and fell hard on that news. ackman's fund, which has a publicly traded vehicle and will discuss its quarterly performance vehicles on a call, hasn't commented on the bad news for valeant. as the number one shareholder for the company in stocks and economic exposure by the options market of $30 million, it's clearly an issue. one silver lining to the stock's protracked drop. the overall value of the position shrinks to less than $500 million in stock. making it less important perhaps to ackman's overall portfolio. >> interesting story. kate, thanks so much. >> let's stick with valeant. david marris is

in fact, his departure had little to do with bill ackman.will leave in june of next year, the reach being herbalife has to comply with regulations. and michael johnson told me it was very important for him to see those through. that he wanted to do that 100%. also asked him about sort of his tenure as ceo. and he told me there was one thing that he wished that he would have done while he was running the company. of course, he still is, and will until 2017. he wishes that he would have put measures in place earlier to be able to better identify who their customers actually are. one of the things that came out of that ftc settlement of some months back and one of those things that herbalife will now have to do through these new regulations, johnson telling me if there was one thing, i wish i would have done something on that effect earlier. nonetheless, he's doing that now. he will see through until june, those new regulations, which go into effect in may. he also told me that he's very proud of the fact that when he took over the company, som

ackman says there are between 500 to 600 families in need - and so far - only 162 donors."i know sometimes a lot of donors think, you know, 'is this in season?' and you know, if you go online, there is a, you know, question, 'how many families would you like to adopt?' and then 'what is the maximum size of individuals per family that you'd like to adopt?'"ackman estimates donors spend between 100 and 200 dollars on gifts when adopting a family.in his experience - the outcome is worth a little income."just the fact that you're kind of making that effort and adopting them and providing them with something for the holiday season - it's a really big, you know, it's a really big deal for those connor morgan reporting, as he mentioned, there are currently 162 donors. to find out how you can become the next one, visit our website, cbs2iowa.com. good morning again -- it's now right now it's degrees in governor branstad is weighing in on a police shooting in cedar rapids. what he says about the policy that's keeping the police video under wraps. you're watching c-b-s 2 this morning

pershing square, bill ackman's hedge fund.ompany and then value act, a san francisco based primarily long only hedge fund. they don't necessarily think of themselves as a hedge fund, but for purpss of this discussion, yes, and they have a seat on the board as does bill man. take a look at bill ackman's publicly traded stock. it's traded sort of intandem with valeant shares. it's less of a big factor now. but you can kind of see the trajectory is similar. bill ackman has tried to character it as an extraordinary investment and surprising and badding situation from an investor standpoint, but he's down 18% year to date. i think for the bulls on valeant or rather than bull, maybe those names stuck in this stock for now, until things hopefully for them improve. this is is a situation that one quould charkts characterize -- rather than organic fraud. that may provide upside potential for the stock. >> the thing that's interesting about valeant, it was one of these crazy momentum stocks that everybody owned. they didn't like at valu

also hedgefund manager bill ackman about to take the stage. we will bring you his comments live when we come back. now what? how will you keep up with the new demands of today's digital economy? the fact is: some believe they won't need a traditional bank down the road, so at cognizant, we're helping banking and financial services companies think digital, be untraditional, and reimagine what the bank of the future can be. our clients can now leverage customer intelligence to predict their financial needs and provide more contextualized products and services. we're creating new platforms across channels so customers can effortlessly invest, borrow, lend, transact-wherever-whenever they choose. and we're digitizing the way banks run, driving efficiencies and delivering new value for their customers in return. digital works for banking and financial services. lets talk about how digital works for your business. ♪ >>> time for a cnbc news update. >> the illinois congressman who resigned in scrutiny of lavish spending was indicted on 24 federal cou

for chris ackman, needed -- are in a hard place during the holidays. there are still families that need to be adopted in the cedar rapids area. >> reporter: adopting a family has become a holiday tradition. local families provide -- apply for help.>> we put that into a database and we matched donors with the families who have applied. >> reporter: there are between 500-600 families in need. so far only >> sometimes a lot of donors think, is this in my budget for the holiday season? if you go online, there is a question about how many adopting a family.in his experience - the outcome is worth a little income."just the fact that you're kind of making that effort and adopting them and providing them with something for the holiday season - it's a really big, you know, it's a really as i mentioned, there are currently 162 donors. to find out how you can become number 163, visit our website, cbs2iowa.com. connor morgan, cbs 2 news. still to come at sixa hawkeye senior will get his chance to impress n-f-l scouts - that's later on in sw of high-speed internet

chipotle, do you hear anything about ackman and chipotle? reporting and this is by the way started actually a week and a half ago that ackman who owns 9.9% of the company's common shares making the second largest shareholder is going to get some board seats, ackman's performance as a hedge fund manager not just this year but last year has been nothing but atrocious. >> what are levels are they similar? >> down 21. >> yeah, it's kind of a foot race, right? >> it is. >> i think chipotle same store sales were actually better than ackman's performance because they're down 16, but it was for a ten day period. >> right. >> maybe that's what it is. it's synergy over performance. >> they can both commiserate. down double digit declines. jim, hold onto your seat here. >> why? >> because we have a deal. >> no. >> fan duel and draft kings are getting together. imagine the synergy and imagine the loss revenue from all those people they advertise with. >> you know that was about the fourth quarter? do you know that fourth quarter ratings were up because

ackman, he probably think iing that there's a better earnings power embedded in the company. i think one of your speakers previously also said they have to invest. they are call iing for a massiv amount of margin improvement, dialing back promotional activity while returning to high single digit if not double store sales, so i think that's a feat that's going to be very challenged to them, which you guys spent a long time talking about. chip cls olte plays in that world. wage pressures out u there. they're committed to not taking price next year. there's a lot of head wind and i think the growth potential is much slower. >> matt, forgive us for keeping the interview shorter than we would, but we've had a lot of moving parts. thanks for being here. i appreciate your time. we have time to kick around some other stuff. best buy. >> fantastic numbers. absolutely. we said watch this one into those, judge, because people are going into the stores for the iphone. the peripherals, 7 and 7 plus that are basically sold out. because they want the wireless headsets and so forth. still wo

a lot of people out there are wondering how you could conflate bill ackman with warren buffett. a lot of eyebrows. for the you asked me list of people that i study closely and follow what they do in the market. sometimes you can make some beey, a guy like me doesn't -- doesn't need to be an activist and i don't have the capability to be one. money when hef got involved with canadian pacific and brought in hunter harrison. in the top bill handful of guys who have a tremendous long-term track record who invest in a way that i can understand, where they are trying to understand and evaluate businesses, figure out what they are worth and buy them at a discount. some of these guys try to unlock value through friendly or hostile activism. you like berkshire hathaway as a hedge. we been discussing that. what about these shorts that you find so attractive? >> everywhere i look i find great short ideas. if you asked me to put on a new short ideas every day, piece of cake. i don't want to get so bearish that i get my portfolio -- i'm primarily a long investor. the two stocks that i pitche

is bill ackman going to stick with the debt through the tough quarters? any choice?there will be a shift in that. it seems like things are still going. scarlet: what was his latest miss on valeant? >> my understanding is that everything has been supported going forward. matt: it is really a fascinating story. thank you for joining us, jerod there with bloomberg news. scarlet: still ahead, trade focusing on tech. a closer look at the nasdaq 100. this is bloomberg. ♪ matt: this is bloomberg markets. scarlet: it is time now for options insight with julie hyman. julie: thank you. joining us today is kevin kelly, cio of capital partners. an american flag on this election day. we are not seeing that much market activity. we see swings between gains and losses but it feels as though people are waiting to put money down for tomorrow for some kind of outcome for the election. >> a big day of consumer needs coming out with earnings. that is where a lot of people placed their bets in the past few years. it is telling. we started to see sectors breakdown in correlation. there is

what does bill ackman see that will work right? the retention rate of the sales force is 94%. matt: so people are not quitting anymore. jared: yeah, so there is that. emily: disney shares are moving after hours. they are higher post-market after reporting fourth-quarter results. the company said it was heard by lower ad sales and cable tv networks, including its largest business, espn. >> there are questions about the subscriber level for espn and reduction in the subscribers. and you bring us up to speed on where that stands -- at what rate are you losing subscribers -- is that continuing? >> we have been eyes wide open, i will call it, about what is going on in the taliban business -- television business overall. people are consuming in different ways coming in new places. mobile has become really important, for instance. we were candid a year ago about what we had been seen at the espn subs.ing we saw it. -- reductions. a lot of it came from bundles that did not have espn in them. we decided we would embark on a campaign to make

i still have some questions myself about bill ackman's comments. he said he was completely a donald trump bull and tried to intimate he might have been a bull all along several weeks ago and before that he was clearly a bloomberg man and been a obama supporter. he says he wants to go and visit with trump to talk about fannie mae and freddie mac. >> lots of love. >> i'm not sure exactly what bill ackman's views on donald trump were about. >> probably transactional. >> hey president-elect have you heard of herbalife. >> it's hurting poor people. >> and eric schmidt, the whole view from the valley because so much of the brand that is donald trump is at odds with that. he's made some, of course, critical comments about apple, about amazon, some big questions there. we talked to roger goodell. donald trump said if he became president he wanted roger goodell fired. at one point we had, you know, howard schultz from starbucks, talked about kicking starbucks out of trump tower and wants everybody talking about christmas. they had the big controversy about

bill ackman and chipotle speaking privately.bill ackman trying to change the company. >> in the past he has ousted ceo's at p&g, two union, big union shareholders are lobbying fidelity to out the co-founder and ceo. this company has lost more than half its market value. went from 22 billion to about 10 # billion in about a year's time. they are under pressure and it's bill ackman. and he's noisy and vocal with his campaigns. could he shake up the companies and bring it back from food-borne ill neness trauma. stuart: and here is another stock under pressure because of problems in the background. volkswagen, the emissions scandal, we hear goes straight to the very, very top. ashley: in fact, it's growing, stuart, the cheating they were doing on the emissions tests, they paid nearly a $15 billion settlement tried to get past it and now regulators in california say they've found more evidence of more cheating on the audi models. the same cheating software, but different aim. this one was to cut down on carbon dioxide which people th

pershing square ceo bill ackman making comments yesterday.is investment in valiant has been a huge drag in pershing's performance. valiant's been down 80% this year. >> we have had one problem. >> what is that problem? >> the problem is valiant pharmaceuticals, the mistake is for the first time we bought a company that had an incredibly successful track record, an activist on the board of directors, a ceo we thought had done an excellent job and we got our head ripped off. >> ackman said michael pearson went crazy and that changing the company's name may boost the earnings. he also reacted to trump's win. >> i woke up extremely bullish on trump, believe it or not. my thinking is as follows, united states is the greatest business in the world. it's been undermanaged for a long period of time. we now have a businessman in the president's -- as the president, and he has power. because republicans control congress, republicans control the senate, he's going to launch a major infrastructure program. he will take corporate taxes down to a sensible

the top shareholder, billionaire bill ackman said they would not be doing, yet charlie gasparino of fox, yes they will, because they have to. indeed that is coming to pass. at least reports at the moment are saying that valeant is in talks to sell the stomach drug business for $10 billion. this according to the "dow jones newswires." of course back to dade city, florida, we're still awaiting hillary clinton. she will take the stage after alicia machado. she has just been introduced. she is about to come out. alicia machado, miss universe, i am still here with former congressman of michigan, pete hoekstra, advising donald trump and clinton supporter, robert wolf, former chairman of ubs america. as hillary clinton walks up, robert, what does hillary clinton need to do here? >> she needs to get enthusiasm to get people out to vote. a third of people who didn't vote to go to machines. liz: congressman hoekstra, according to our fox brainiacs is a toss-up where it had leaned democrat. >> you got to keep running through the tape. we have got seven days to go. need to work hard every day have

liz: bill ackman, billionaire owned a lot of herb life an went to speak with members of congress.ber that? >> conflicts of interest are inherent. the question why are you doing things? doing stuff for good of the country. carl today is doing it for the good of the country. liz: up 84. that is a new high of the session here at the very moment. dow jones industrials up 90 points. can we make it 891. we're watching this right now. big records all around with the closing bell only six minutes away after markets go off to the races after the trump election victory. all signs pointing to a federal reserve interest rate hike, december 14th. one man says you need to hold your horses. why sean o'hara thinks the fed won't move in december. we will ask him. he is a contrarian. more "countdown" on the way. don't go away. ♪ ♪ ♪ ♪ how else do you think he gets around so fast? take the reins this holiday and get the mercedes-benz you've always wanted during the winter event. now lease the 2017 gle350 for $579 a month at your local mercedes-benz dealer. with moto mods, the new motoz droid exclusi

at the same time as all this, bill ackman remains under pressure.onth, 21% for the year last check, october 25th. to the extent that a reported justice department investigation of possible fraud at valeant affects that company further. that, of course, being one of his larger holdings, sar and davi david. >> not a good day for them yesterday, for sure. we keep talking about their inability to over perform s&p for years the broad majority of hedge funds but they still get paid, don't they? >> they do. ackman just released a fee structure that has no bearing on a year like this. you can get a break on the fees if he has under 5% returns. 30% if it's greater than that. it's not addressing the main issue. >> leave it there. thank you kate kelly. >> thank you. >>> that does it for us here on "squawk on the street." with the dow down 20%, pfizer is the big loser. one, two, - wait, wait. wait - where's tina? doing the hand thing? yep! we are all in for our customers. ally. do it right. so we know how to cover almost we aalmoanything.hing,customers. even a

it's a holding of bill ackman's. i like the stock. and that, ladies and gentlemen, is the conclusion of the lightning round! [ buzzer ] >> announcer: the lightning >>> i am doing pretty good. not going to say perfect because i twisted my ankle in a pothole because we have bad infrastructure on wall street. but otherwise fine. probably a little too much information. >>> in large -- [ buzzer ] >> it's a trillion dollars. there's one stock more than any other to watch for in the future of this -- can we just change this? [ crickets ] >> we got to get this in the can. >> who's your favorite bald man that talks about stocks? >> jim cramer! >> caller: hi, mr. cramer. this is cheryl from new jersey, and i'm here with my 11-year-old daughter cara. she's learning how to invest, and she would like to ask you a question. >> caller: hi. i first want to thank you for signing my book for me for my birthday. >> aww. >> caller: my five stocks are merck, disney, apple, exxon, and procter & gamble. am i diversified? ? hallelujah ? i love you so much. t

bill ackman is a main proponent of fannie and freddie.e don't know exactly many shareholders there are. but as you mentioned, bill ackman is a shareholder, bruce berkowitz, he is a major shareholder. the parry capital, richard stills hedge fund, they own shares and are providing funds and some of these court cases. vonnie: coming up, president elect don't trump is -- president-elect donald trump is -- this is bloomberg. ♪ david: live from bloomberg world headquarters in your, i am david gura. vonnie: i am vonnie quinn coul . mark crumpton is in our newsroom. k: donald trump is back at the white house with another meeting of high-profile members could ross and jonathan gray and nugent, according to a person familiar with the hiring process . tennessee senator bob corker is on list for secretary of state including mitt romney. at dog madness is looking secretary of defense. voters have a favorable or ratingt the favorable of the incoming president. his favorability rating has jumped nine point since election. theresa may is offering and all

>> i think bill ackman made a comment about renaming the company.oing to be a slow growth specialty pharmaceutical company that for the next few years will be doing disposals. but they'll be putting money in r&d. products will get approved. it's going to be a completely different business model from what it had before. >> how do you feel about that? i mean, i would imagine that you entered into this position when valeant was closer to valeant opposed to a company that's closer to sell a lot of pieces off until it becomes possibly a bausch and lomb. >> i think it was probably in the high 30s. and then the vast majority of the position has been taking much lower prices. by the time the stock had collapsed to that level, the business model didn't work anymore. it was a question of how to create value for shareholders. >> do you think bill ackman can ever make his money back? >> i don't know what his average cost is, so it's hard to say. >> over a hundred dollars a share. >> it's going to take awhile. we think valeant is worth easily double the current

investor bill ackman nearing an agreement with chipotle mexican grill.'s board. that's according to "the wall street journal." paper says the agreement could come soon although such a deal could fall apart. >>> fiat chrysler recalling in the u.s. trying to locate 30 that could be subject to fuel leaks. there are no injuries or accidents related to the problem. >>> coca-cola selling its stake in its china bottling operations for about $1 billion. coke had owned about a third of its bottling operations in that country. wants to focus on making concentrate for its beverages which is a more profitable business. >>> all right. several major appointments just out from the trump administration. or trump transition team. it's not quite an administration yet. retired general michael flynn has accepted the offer to be national security adviser. and mike pompeo accepts the offer to be the next cia director. and jeff sessions has accepted the offer to be the next attorney general. joining us now former attorney general alberto gonzalez. it is good to be with you tod

i think -- again, i have no personal animosity with bill ackman. in a certain way, i have to put it this way because we've had our differences. i sort of like him. i think he is an interesting guy. i just think he is just dead wrong in this area, and it's unfortunate, but sooner or later that's going to come to a head, and -- but i think obviously it's under valued, but -- >> right. >> i just bought the s&p when i but i think -- >> i was tongue and cheek. thank you for calling in. it's good to hear from you today, the day after donald trump was elected president. actually the same day since it happened in the middle of the night. we'll talk to you soon. >> sure. thanks. >> carl icahn. >>> we've been talking about treasury yields. jack jackie deangeles. >> what's driving the move in bonds today? break it down for us. >> remember the curve was steepening before we got caught up in election fever. a combination the fed said a couple of different times they are willing to let the economy run hot to make sure we have inflation. now we have what seems to

i spent time with bill ackman last week.pes along with others on wall street of course is that somehow fannie and freddie get resolved and to their favor. what do you think is going to happen? >> mike crapo is coming in on the senate side and i know he wishes to deal with this. i know hens hensarling does on the other side. talked with him on the ideas he has. i think you're going see that being the second priority here nap is first dealing with the dodd/frank excesses. secondly dealing with fannie and freddie. and look, from my standpoint, we have to do away with the model of public sector losses and private gains. i think to have two that are guaranteed by the federal government and yet we have stockholder ownership. i will say i don't agree with everything that bill ackman has talked about. i do think that he understands that. and i think maybe there's a way to get to a place that is not the system that we have today. i mean, it is -- the model that we have had is totally, utterly ridiculous. i mean, it is ridiculous. to

ackman's pershing square, had a stake in chipotle and new board members come on.tuart: 400 bucks a share, jeff sica? >> i think the main thing is, this specific board has been with the founder, has been with the ceo for the duration. bill ackman, he will stir up the board. chipotle is hoping he'll stir up the board. liz: show the ceo the door. stuart: look on the left-hand side of the screen, a new all-time high for the nasdaq composite. the early part of the decade we never thought nasdaq would get to 5,000. it has, and how about the british pound, a multi-year low if ever i saw one, a buck 23. that means, one british pound is worth $1.23. a couple of months ago it was worth $1.50 or 60 cents it's come all the way down. did anybody else see this coming, the raging strength of the u.s. dollar? scott shellady, did you see it? >> i didn't see it coming and obviously, we saw the reaction right after the election and you know what? i'm going to say, cool your jets, we can't anoint him the almighty one yet. he didn't take the reins until january and still take a while

bill ackman owns about a 3.6% stake in the company. next, polls are now open across the eastern part of the united states and we are seeing florida, one of the key battleground states. it's very important to both candidates. the question is, what will the election mean for american brexit? what does it mean for bertelsmann -- partners and rivals around the world. and our all-star guest, tom baerga colony capital, jim mark from xina ridge partners. this is bloomberg. ♪ jonathan: from new york city, this is "bloomberg daybreak." i'm jonathan ferro. some stability, futures down but only marginally. -15, after the biggest one day bob on the s&p since march of this year. in other asset classes, bonds are lower yesterday, yields higher. yields lower by about a basis point of 182. the dollar-yen pushing towards 105, a weaker japanese yen story. it parallels between today, the events and the potential for follows similar to brexit. comedy times have we heard that? -- how many times have we heard that? we even heard of from donald trump. trump:

in a documentary film the chronicles bill ackman's efforts to take down herbal life get a wider audienceeal, betting on zero reached theaters early next year via a gunpowder and sky distribution. movie debuted in april at the tribeca film vessel. the says the company is a pyramid scheme, the company denies it. that is the bloomberg business flash. vonnie: in politics, donald trump could draw a few lessons from canadian prime mr. justin trudeau. a new study says that a wave of minority support helped justin trudeau to power a year ago. election data says a surge of latino voters in the u.s. is backing the democrat party. , mark bunting joins us. explain to us what type of hispanic vote that justin he won it., and how labor forcesed the survey to get a much clearer picture as to who voted for just a drill last year during the election. we knew that his voters were mostly younger, pro trade, pro-immigration. many of them identify themselves as feminist. however, based on the labor force survey, what they're are saying now is that recent immigrants, indigenous people and millennials really h

jason meester is our real estate guy with ackman real estate, a senior director there.n that number, sales of existing homes? >> it's a strong number, but again, i don't want to dwell on one month's numbers. this housing has been fueled by free money. interest rates are way too low. you go into this city, new york city, a ton of new development, luxury condos, miami, san francisco. there's way overdeveloped and i think we're due for a reset. stuart: a reset, what do you mean? >> the market is going to correct itself. housing prices are going to come down and we will have to see a correction in the marketplace, we've had overdevelopment. stuart: that's interesting, i haven't heard that before. you say there's so much development going on and interest rates are rise here comes a correction, home prices come down. >> land in new york city is not trading the reason because there's too much development. lenders don't want to lend developers because building cond condos, we have an oversupply. what we're going to see in the near-term is a correction. i think we're on brink wi

we're going to hear from goldman sachs and bill ackman.eat, she has not spoken publicly. sherri redstone in the viacom deal or no deal. she's going to join us later this afternoon. so that is the big day ahead. >> that's unbelievable. i mean, andrew, i wish you were here but the power of "squawk box" that allows you now to be so prominent to be able to bring all those people together is -- right? that is -- congratulations. that's amazing. >> i don't believe he was able to cobble that together in 48 hours after the election. >> is he gone already? >> we just made a couple phone calls after the election. said could you come on by. >> could you go there with goodell, nobody does. colin kaepernick? >> we will. >> it's like, weird. they said it was the election. we'll see. the election is over. but there's some people who think that has not helped. >> we will talk about that, the brand that is the nfl nop doubt. >> excellent. and you get to do the jacket and the -- >> and a little bit of this. i know you like that. >> and table cloths. look at

of course this is the stock that bill ackman has loaded up. >> that should be an interesting topic. >ig part of the conversation. >> all right. let's get back to politics here. take a look at the key global challenges facing the next president. ian bremmer joining us from washington. ian, great to have you with us. >> good morning. good to be back. >> predictions? >> well, i certainly think that hillary's going to win. and but i also think that 18 months of this election has been incredibly damaging to the united states around the world. you think about the wars in iraq and afghanistan and how badly they've gone. a lot of countries saying the u.s. isn't a global sheriff anymore. look at this election and what both candidates have said about trade and what it says about our democracy, a lot of leaders around the world almost all of our allies are saying not sure american values are the ones we want to listen to. not sure they're going to drive trade agreements anymore. these are sort of the bedrocks upon which the american superpower and are influence around the world has stood. whethe