einhorn says the inflation is more entrenched and the market is appraising.horn said, we think a reacceleration of inflation and higher rates could disrupt the bold narrative as a result, he's tightened the net exposure you have bearishness in the filings. the deadline is after the close today. a small sample size, but interesting them, nonetheless. >> that goes to our conversation with, the reasons why those who are bearish, are bearish >> yeah. >> the same sorts of things from people >> the market is going straight up, into the end of the second quarter. it was mostly being led by overheated action in the nasdaq stocks it makes sense that is where you would say, bet against it. but you know, if those puts have not expired and he's holding them, they're worth a lot less than worth nothing at this point. we're up from the end of june. a little tough how to interpret it from this level there's been hedge fund managers to place you on the short side or to hedge. because it had treacherous to single-name stock. dan lobe wrote about that in his shareholder letter

so you are watching for two years in a row david einhorn really coming in hot.twitter before the big buyout last year. so a little bit of patience, a little bit of sticking to your guns. it certainly paid off for david einhorn at least when it comes to an industry where folks are still waiting. dani: i want to go to the feel-good story of the day. standard chartered offering 28 -- 28 weeks of paid leave, a matching it for mom and dad. are others following suit? is this common in the industry? sonali: you are seeing many global banks, particularly ones with very global presences in the u.s. and tight labor markets try to beef up benefits because the benefits where pay has been a tough thing to come by, i would also say the tough thing about these types of policies is the cook -- is does the culture of the workplace allow for it? how do your bosses and colleagues react to taking that leave, it has been a big point of conversation. alix: this is why i think men have to take it. if men and women take it it equalizes the issue. sonali: a ton of men say of my colleagu

that position doesn't a bet against $900 million of shares at the end of june david einhorn said he addedubstantial portfolio protection through the index hedge in the investor letter seen by cnbc he is out performing the s&p by 6% in the second quarter and he had a stock warning. the stock manager said if we were bearish until march and neutral through june, we would now characterize ourselves as worried. that's the set of play for now, joumanna >> arabile, thank you for the breakdown. let's bring in the chief investment officer capital group. wonderful to have you on the show david and michael building shorts into the second half of the year they are turning more bearish on the equity outlook where do you stand >> i saw that. the key thing if you look at the filing that goes on the 30th is from 45 days ago we don't know what happened since. i'm looking at medium-term horizon. i say bullish. nvidia came down from $483 to $433 on the back of news when the a.i. revolution happens, it will not happen in months, but longer >> the stock is unloved or relu reluctant. >> i like that >> great op

they don't go on to disclose what that is interesting perspective from david einhorn today.the overall returns for the second quarter was 14.5%, compared to -- that's about double what you saw with the s&p during that same time period. >> don't forget, too, they're coming off a 2022, which was, i think their best year ever. >> right. >> they're like 36 plus percent. largely because sort of fitting to his playbook in the last few years, they haven't been big holders of tech stocks, right? so in '22 when tech had a big correction, green light were big winners. now i'm just curious as to what we're learning because of the big bounceback in tech traditionally they haven't been big players, what that's meant to the overall picture do we know what he's added of late through this letter >> it says they closed -- in terms of the material winners, they describe those interest rate derivatives where they challenged the market that the fed would cut interest rates this year. continues to believe the market is overanticipating those cuts they've extended that view through march of 2024.

we will talk about that with bruce einhorn. great to have you with me.are the implications of the black sea escalation for russia as well as others? quick this will make shipping oil through the black sea much more expensive. this is something the russians have been trying to do to ukraine for white a while now. putin pulled russia out of the ukraine deal last month. since then, russia has been attacking odessa and ukrainian reports and infrastructure geared toward the export of rain. the defense ministry said two can play that game. that is a message they posted on social media. ukraine attacked a major russian port. attacks will significantly add to the cost. there is also the implication for europe. this goes from the russian port on to europe. that could make russian imports of oil from kazakhstan more expensive as well. >> market implications are exactly what the bank of england was talking about when he said they will have to react if more comes. really thanking you for bringing us the latest there. we will cross over to africa. niger has closed th

that's get more from bruce einhorn. adding gender diversity? bruce: the hong kong stock exchange has a rule that took effect at the beginning of last year, giving companies three years to have gender diversity on their boards. so, we are about halfway there. the big obstacle for a long time has been companies from mainland china that have all-male boards. that is starting to shrink now, so, at the moment there are now five companies from the mainland that still don't have a woman on their boards, that's out of that six hang seng index companies. all but one of them are from mainland china. most recently we've seen mates one, the big food delivery company from china, at its first woman to the board. there are other companies that have yet to do that, but have said that they are considering, for instance, byd, the automaker, the smartphone maker have both said that while at the moment they still have a woman on the board, it's something that they are actively considering. they have until the end of next year to have gende

haidi: bloomberg's bruce einhorn there with the latest.greeing on terms for an enlargement that will hurt and hope will raise influence on the world stage. jennifer reports from the summit in johannesburg. jennifer: an extension of the bricks prophecy backing by more leaders on the second official day of the summit here in johannesburg, members have pushed driven primarily by china, but india's prime minister advocated publicly for the first time of the summit for a cautious approach to the expansion of membership. >> excellencies, india fully supports the expansion of bricks membership, and we welcome moving forward on this based on consensus. jennifer: several countries are shown an interest, including the united arab emirates, saudi arabia and argentina. the more detailed announcement is expected to be made by leaders before the conclusion of the summit on thursday. in johannesburg, i'm jennifer, bloomberg news. shery: the prime minister floating the idea of the bricks space group as india has become the first country to land a spacecra

david: bruce einhorn in hong kong for us.e will have more analysis in oil markets coming up in about 10 minutes. neil joining us, senior oil analyst. he does prices, just to give you a little bit of a tease. supported moving forward because it is drawn down inventory levels. plenty more on the way. this is bloomberg. ♪ grand canyon university's with local in-person clinical hours makes earning your bachelor's in nursing possible from wherever you are! find your purpose at grand canyon university. visit gcu.edu yvonne: some top stories we are following, shares of chinese semiconductor maker hua hong have gained on his trading debuted in shanghai. jumping by as much as 15% before paring back. those gains coming at the extent of -- one of the many chip firms to list in mainland china, giving them public market access amid beijing's ongoing tech war with washington. bloomberg has learned in point72 asset management has grown its singapore team by more than 50% since early 2022 to 100. hiring picked up around the end of last year

and we received a letter from david einhorn where he said he had some portfolio protection and hedgingre >> a lot of information. interesting, leslie. leslie picker. >>> still to come, the retail outlook with one analyst who says buy depot ahead of more results from that space. what investors need to know, as the nasdaq 100 just about 100 points shy now of its 50-day dot vi ara n'go away. >>> welcome back i'm pippa stevens with your cnbc news update. donald trump says he will release a report on election fraud after a georgia grand jury indicted him on accusations he and his allies tried to overturn the 2020 election. on his truth social platform, he promised to share the report next monday. the fulton county district attorney in georgia gave trump and other defendants until august 25th to surrender on felony charges >>> hawaii officials say 3 of the 99 people killed in the mau wildfires have been identified so far the county plans to release their names after their families are notified according to authorities, only about 25% of the fire zone has been searched so far >>> meanwhile, a

david: einhorn has been with us to talk about these latest charges against the former president.ave been expecting this for a long time and now we have the indictment so we know what he is being charged with. for things. conspiracy to defraud the u.s., to obstruct an official proceeding, obstruction of -- an attempt to obstruct an official proceeding, and conspiracy against the right to vote. notably, jack smith did not charge the former president with inciting the right on january 6, the indictment also referred to alleged co-conspirators. but they were not indicted as well. this was just an indictment on one person, the former president. it could make the case, if it stays this way, it could make the case go faster than the mar-a-lago case which involves multiple people, as well as the former president and involves a lot of classified information. figuring out how to get access to that. that is potentially slowing that case down. this case does not have any of those applications. rishaad: sorry, bruce. david: ok, we have to leave it there. i just got to keep. -- got the queue.