we're lucky to be joined by barry sternlicht, who has structured 300 investment transactions in deals valued at more than $40 billion. he's the chairman and ceo of starwood capital and starwood property trust, the largest mortgage reit in the united states. it's an interview you will see first on cnbc. barry, welcome. >> thank you. >> we'll get into the wheelhouse of real estate, but in light of what the market is doing today, the dow is up 100 points. pushing on 16,000 again. last time you were on tv, you said the following -- all my friends who are money managers are much closer to the sell button than they ever were before. is that -- >> i didn't say they were selling. >> no. >> closer. >> i said they have the panic button at hand. >> are we in a bubble? >> no, but we're -- we're wandering close. we're wandering ever closer. you know, it's a melt-up. it's affecting all of the asset classes. i am chairman of robin hood, and i'll be here all day, and i'll be here tomorrow, and doing a presentation, and we'll talk about that tomorrow, about what's happening, how it's affecting all. th

also our guest host barry sternlicht who is an investor.disrupter technologies as a theme for what you invest in? >> yeah, we feel grateful we've been able to invest in great businesses and our ambition is to invest in entrepreneurs that are trying to create industries or make industries more efficient. so absolutely. >> instagram is one that you invested in. three days befor instagram was sold? >> yeah. >> how did you see this? how did it come up? >> absolutely. instagram is obviously an incredible product and we invest in the company primarily because we thought it had opportunity to become the next facebook. kevin is an unbelievable entrepreneur and -- >> kevin the ceo. >> and it's definitely proving to be that case. >> were you stunned when it was sold three days later? >> yeah, i was incredibly happy for kevin, obviously. i was excited for him and for the business but i'm just happy it's still becoming what we thought it could become. >> you would have held on it, probably. >> yeah, you know, it wasn't my decision, you know, you have t

we should mention, of course, that barry sternlicht is your executive chair, he, of course, is also with we're just amazed. you've had exponential growth, doug. we'd love to continue to follow the story. thank you so much. >> thank you, liz, and we look forward to talking too you again. liz: anytime. doug bauer is the ceo of tri pointe homes. gutsy guy. and big in california, they now have 16,000 lots in california, so you need a house go, there. closing bell ringing in 36 minutes. let's get back to the justice department handing out the large penalty ever for insider trading against sac capital. our own charlie gasparino was down there with perfect lighting, i must say. whoever lit charlie while he was down in front of that courthouse, it was very impressive. but he's coming back in here to see about his lighting here but also talk about what it means for founder steve cohen and potential future prosecutions because the u.s. attorney is far from done. ♪ ♪ you really love, what would you do?" ♪ [ woman ] i'd be a writer. [ man ] i'd be a baker. [ woman ] i wanna be a pie maker. [ man ] i

building division to the shareholders and immediately merging it with tripoint homes controlled by barry sternlicht in a move to unlock shareholder value. remaining company is focused on wood products and fiber. we like that as cyclical play. we think that looks cheap. we like am cnet works is another name we like. amc announce ad transaction with troll media to buy international distribution. some recent arguments between time warner cable and some of their content providers illustrates it may be a danger not to be in the distribution and content networks. am cnet works are -- liz: talking about that deal, taking apart that division of weyerhaeuser, weyerhaeuser homes and bringing intoit into tripoint let es weyerhaeuser go free and clear into its core business which still depends very much on a healthy housing market certainly for construction. do you see that going ahead? >> well, i think, at the end of the day most young people, and even older people want to own a home. although there has been recent weakness in housing starts i think the housing play has got many years to come, to go and until

and starwood capital chairman barry sternlicht, starting at noon on "the half." >>> when we come backimore's infrastructure has sprung a leak. actually, a thousand leaks. they face a $3 billion funding gap for its water system, and that number is only going to increase going forward. we'll tell you how much it may cost to fix when "squawk on the street" comes back. ♪ beg your pardon ♪ [ male announcer ] this december, experience the gift of exacting precision and some of the best offers of the year [ ding! ] at the lexus december to remember sales event. this is the put of perfection. [ male announcer ] this is kathleen. setting up the perfect wedding day begins with her arthritis pain, and two pills. afternoon arrives and feeling good, but her knee pain returns... that's two more pills. the evening's event brings laughter, joy, and more pain when jamie says... what's that, like six pills today? yeah. i could take two aleve for all day relief. really? and... and that's it. [ male announcer ] this is kathleen... for my arthritis pain, i now choose aleve. ♪ [ male announcer ] look for t

barry sternlicht will be here tomorrow starting at 7:00 a.m.a number of events of note this week. tomorrow, we're getting the release of this year's most anticipated video game, activision's "call of duty ghost." >> we'll get them all. >> the latest installment of the call of duty series which sold over 100 million copies. i can't believe it's 100 million. >> was that -- video games and c.o.d. was one of them. and there was another one my son got. >> check this out on wednesday, twitter expected to price 70 million shares for $20 a share. we'll have that ipo on thursday morning. but then on thursday, there's the ecb rate decision and third quarter gdp released. and on friday, the delayed government jobs report is finally out for october. so we've got a lot to look forward to. or not. >> we've got that going for us, which is nice as they say. >> we do. >>> dallas fed president richard fisher with a harsh message for washington. he says an ineffective fractious government has slowed the u.s. recovery. and that's not that profound. but also counte

. >> barry sternlicht, thanks for being here. this was a lot of fun. >> "squawk on the street" starts right now. >> good tuesday morning, welcome to "squawk on the street," i'm carl quintanilla, david faber and in europe some very weak action in the banks as we see more hand wringing over the rising euro and predictions over whether draghi will cut rates this week. several big consumers names reporting better-than-expected results. find out what it means for spending ahead of the holiday season. >> hey, we're just two days away from that twitter ipo. bet you haven't heard that before. find out why the head of nyse said not every ipo goes to the moon. >> and apple has tripled the number since last year's launch. >> t-mobile posting a rise in q3 revenues as the company added more than a million customers in the period. got to start with kors. 71 cents, beats by 3 cents, same-store sales plus 23. not the 45s, 41s we were seeing a few quarters ago. >> still, this is an amazing story. the last bit of research we had was a downgrade be