cathie wood will be back with us next.his is bloomberg. ♪ ♪ emily: the tech sellout continuing with tesla, square, roku all taking a hit. those three are the largest holdings in ark etf. cathie wood says she is not concerned. she is still with us now. cathie wood, founder, ceo and cio of arc investment management. you've been coming on this show for years. in that time, your popularity has exploded. you've got your own line of ark merchandise. the media loves talking to you and talking about you. they've called you the antiwar buffett. how do you feel about not being just an investor but a celebrity investor? cathie: i don't think of myself that way. i think of myself as sitting down every day with our analysts and being really excited about the way the world is going to work, and really just wanting to share that with people. you know, from an educational point of view, help people understand how radically the world is going to change and how it is so important to be on the right side of change. i am not just talking abou

cathie wood tells bloomberg a broadening market is good news.nese estate back to funds are said to have intervened as the shanghai composite clause background after slumping at the open. plus, the race to the oecd enters the home stretch. manus, good morning. great stock rotation continues. i like what mike bailey says. he said it feels like an attitude adjustment for tech and growth stocks. investors have decided the covid highflying are too expensive and it is time for evaluation haircut. all this comes as they become less appealing in the tech space and you have bond yields clawing back higher. manus: but how do you differentiate? cathie wood is differentiating between what she described as the big blockbuster liquidity names, the faang's, and shifting to a pure play technology evolution. but the big question, where will you spend your stimulus check? at the mall, on a vacation, or will it be slightly more nuanced and less tech? that's the question and the bond market tells us a lot. annmarie: it certainly is and right now what we are seeing

bull market and fast growing stocks has skrecreeched a halt wood, not worried, what arc invest cathie woods says she's doing as funds continue to sink. d days away, the house preparing to pass the $1.9 trillion spend spending bill. your check could be in the mail as soon as next week. >>> move over gamestop, there's a new crop of stonks on the radar, and they are surging. we're going to name them >>> plus, a debt story that everyone can get around. how many americans actually shored up their finances last year it's your rbi, and it's coming on this tuesday march 9th. and this is "worldwide exchange." ♪ ♪ >>> a little music to get you going. good morning, good afternoon or good evening and welcome from wherever in the world, i mean wherever you may be. i'm brian sullivan thanks for joining us on this busy tuesday let's get right to it, check the markets and your one, and you know, forget dow futures because we are squarely focused on nasdaq and big tech. probably fair to say it's been a bit of a dumpster fire lately. it looks like we could turn today. nasdaq futures up almost exactly what th

i spoke to cathie wood of mark invest -- of ark invest yesterday. take a listen to what she had to say. cathie: the retail investor has seen the future really before institutional investors because post 2008-2009, institutions have been forced to track their benchmarks more closely, or they have chosen to. we think that is longer-term a losing proposition. we have found some of our strongest holders to be retail investors because they are keeping their eye on the prize. they know the world is changing. they are part of making the change. emily: she is talking about retail investors holding in ark etf. that comment got a lot of engagement on social media, probably from some of the folks who are retail investing at this very moment. talk to us about what the continued push into gamestop actually means given that they don't seem to be losing their momentum. katie: cathie is right that the retail investor has been a big part of her fund and they have really held in there. ark has admittedly seen outflows in the past couple of weeks but there are really

get e*trade and start trading today. >>> we're back with ark's ceo cathie wood. k you for sticking around i want to ask you about the next decade do you think bitcoin will continue to be correlated with risk assets, or will it be negatively correlated the way gold has been in the long term or the dollar has been in terms of its correlation with stocks >> what's been interesting about the correlations, bitcoin to any other asset class, is the correlations have actually been very, very low over time in fact, the highest correlation is between bitcoin and real estate now, the irs taxes bitcoin as property, but i don't think that's the reason for this correlation, it just so happens it's that. so we think that as it becomes a better accepted new asset class, and we are seeing institutional movement into the space, and we're seeing the diversification of balance sheets into -- from cash into bitcoin, we do think it will behave actually, i would say, more like the fixed income markets, believe it or not if you think about bonds from this level, you know, this idea of a

cathie wood was on the closing bell and she's not worried because she said i've been here before i've seen this movie before. here's what she said >> this happened to us in the fourth quarter of 2016, as well and right after trump was elected and tech stocks were going to go down and the market starting in a very strong cycle which was correct. in that period of time, our strategies went negative and what i said at the time and what i believe now is that the bull market was broadening out to incorporate val or more cyclical sectors and i thought that was going for the strategy longer run. >> perspective a lot for cathie wood we're having a broadening out rally in the bull market and it's all good in the long term she has a five-year time horizon and she can afford to be more patient than the average joe out there who is looking for a little more bang a little quicker. >> cathie wood is absolutely right, and you know, she seems to a lot of observers as an overnight and she got a lottery ticket she knows exactly what she's doing and she knows what she's talking about. her strategy happe

. >> arc investment founder cathie wood, wood also defended her bet in tesla, the largest holding in the arc innovation etf. >> confidence in tesla has gone up for a number of reasons, one, it didn't lose share of the electric vehicle market when all of the traditional luxury brand names started bringing their own electric vehicles to market. second is autonomous we believe that elon musk, who over the weekend tweeted out that he would offer or tesla would offer full service driving to anyone who wanted it, saw an incredible burst in demand, so for him to be able to do that, suggest to us that he's going to be able to show us the way to autonomous much faster than most analysts and investors expect. >> so still very bullish tesla, but wood also predicted that bitcoin will eventually grow into a key asset in investor portfolios. >> we think as it becomes a better accepted new asset class and we are seeing institutional movement into the space and we're seeing the diversification of balance sheets from cash into bitcoin, we do think it will be he behave more like the fixed income marke

you say china cannot have it's on cath -- its own cathie wood.vestment environment makes you say that? >> investors, the etf's mutual funds. whenever they see a celebrity manager, they will flood that manager with money. but as soon as the fund starts to dip a little bit, they will exit. in a recent survey conducted last october, the number was like 30% of the investors, mutual fund holdings within a month. another 20% were redeemed in less than three months. basically that they cannot hold on. number two, the other managers. as soon as you have a star manager like cathie wood, everyone will buy into the exact same stocks. these are the two biggest problems that i see in china. >> does that mean we will never get a star manager in china? >> i do not think that will be the case in the current environment. the retail investors, when they see their funds sold off, they will go to china as a way to basically -- even fund managers verbal abuse. if you are a fund manager, would you want to run a mutual fund, you are better off running a privately held

and a interview with everybody who they want to talk to cathie wood at arc invest who has made a lot of people at the tough time. that is 3:00 monday on closing bell. all right. coming up, are you looking for inflation? well, one place that you will find it is no argument is the car lot. what it might mean for you. plus, a fas nagt story about the rollout of the vaccine, and it is happening so fast that vets to veterinarians are being called upon to put shots in arms. kate rogers is up with that story next. and by the way, the dow is at session highs right now, and looking at the sectors that are looking at the markets this morning and as of this morning n the green, and the nasdaq back up about 1%, and the buyers have come in on a friday. we will see if it lasts with 2 1/2 before the closing bell. backf a this. - [announcer] if you've tried college but never finished, snhu let's you transfer up to 90 credits toward your bachelor's degree. - [woman] it doesn't matter how old you are, you can do it. you can finish. - [announcer] finish your degree at snhu.edu. in the romo household we

has not done well broading it out it a month, it's even worse >> the question is do you pull a cathie wood and do you buy on the dip as she's been doing in the high-flying names with the teslas and the zooms do you do a cathie wood and do you buy the dips or do you back away from technology and play more cyclically as steph is doing herself? >> it's fine to do the cyclical side, and it's a differentiation of so what are you really saying do i believe in the cathie wood side of a zoom trade i do not when i look at the companies that have either no p-es or p-es that are triple digits, those are the names that i think will suffer the most under the circumstances that we have laid out for today's conversation, but that does not include the fundamental stories that are still existing out there for apple, for microsoft, for a lot of the faang names and then the next tier names that are just underneath the faang names and there's plenty of room because the fundamental story is there and that's the difference for me >> you don't like any of those stocks you don't think there's a fundamental case b

cathie woods' etf down about 20% of its peak. tom: you know this cold. i will defend cathie.on't like these articles that it's a bear market. they are comparing it to down jones standard deviation. that is not accurate. lisa: there is the concentration risk, talk about the benefit of being bold. how much of a spiral is this? romaine: this goes to the point about ideas of waiting. a lot of reason cathie woods is getting beat up because there is a heavy weight between four or five names. the etf is not really going to get much traction unless he decides to do more of that active rebalancing. she thinks tesla is a long-term bet, a good bet. she said on air here she will be buying the death. -- dip. another story with real implications is the commodity space. we are waiting to get the outcome of the opec-plus meeting here. we saw all the shale producers and the u.s. rally. there is a sense opec will come in around 900,000 to 1.4 million barrels. that would be supportive of prices. there was concerned they could go above the 1.4 million. keep in mind most names on the index have r

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matt: that was the ark investment founder, also the ceo, cathie wood speaking with emily chang.a is up a whopping 18% right now, the biggest gainer on the s&p 500. apple, microsoft, amazon following it up. tesla is adding 10 points to the s&p, as is apple, microsoft, amazon, each adding about six. some of the biggest names in the world. coming up, we continue the conversation on etf's. investors are plowing cash into value etf's. we will speak to our specialist, eric balchunas. this is bloomberg. ♪ mark: i'm mark crumpton with bloomberg first word news. the biden administration is looking ahead to its next stimulus package and it will face more obstacles than the one getting through congress without a single republican vote. it will address infrastructure, climate, health care, inequality, and more. but republican opposition to tax hikes will make it hard to pay for it all. the oecd says the u.s. recovery turbocharged by the new stimulus package will help to power a faster than expected global upswing. the report says europe could be left behind. the paris-based organization say

tech, cathie wood's group are down eight or 9%, from the highs down 25, 30%.et you look at. i still like things that if you drop them on your foot will hurt. i still don't like high-tech. right now that is the proper place to be. stuart: should i sell? been on the air for long enough. i got some microsoft. should i sell it? >> yeah. depends what your time frame is. given the fact you and i are over 70 years old, i don't think i want to own microsoft. i would rather own dividend-paying stocks have potential to them over the course of the next several years. i would rather still own the basic things of business rather than the high-tech. so, if i were you, i would be less exposed to microsoft. i would be less exposed to nvidia. i would be less exposed to tesla. i would be more exposed to goodyear tire, ge, u.s. steel, those sorts of things. we shall see. time will tell. right now i'm right. we'll see if that continues. stuart: goodyear, goodyear tire and rubber was the very first stock that i bought and i bought it almost 50 years ago. i sold it it, maybe 40 yea

tom: that is an important piece of audio from cathie wood. ark investment.ll of you know who she is and the notoriety. what is important is how balanced her approach is. barry ritholtz joins us on the state of where we are. his podcast is required listening for global wall street. longer conversations with important people. our running joke is everyone is a rate strategist. barry ritholtz is a rate strategist. i want you to under -- i want you to explain to all of our audience why everybody in the barry ritholtz world focuses on rates? barry: the risk-free rate of return is your frame of reference relative to what sort of expected returns you can have in the equity markets and how much risk is out there. when companies can borrow at no cost, it makes them more profitable and there stocks go higher. when consumers can get mortgages at 3% or 4%, it leaves that much more jingle in their pocket to spend and to drive retail sales. the concern has always been there is no such thing as a free lunch. if you keep rates down too long you will drop another inflationary

tesla as you heard cathie wood think since going to make 3000 by 2025.rs indeed. nasdaq, i expect some big tech. tesla, applied materials , they are taking over kansas city -- i believe they are-- susan: kansas city southern. stuart: thank you. accuracy is a wonderful thing. susan: is event. stuart: when talking about someone's money, do not make mistakes. thank you. good stuff. apple, they are planning some high-profile executives in the upcoming trial with the fortnite maker epic. will tim cook take the stand? susan: apple releasing its preliminary witness list in this epic showdown. i got it over the weekend and it has tim cook also software head may testify along with the apple store, so this court trial could start as early as may 3 or they may settle beforehand and then there's no trial, but at this point it looks like it will go through. the fortnite maker epic games suing apple for antitrust charging too high of the commission and then apple countersuing epic for breach of contract. apple made over $72 billion from its app store last year accordi

has taken a beating over the last three weeks as we have seen this rapid rotation, but founder cathie woodshe is keeping her eye on the prize and sticking to her highest conviction names, for example, tesla. cathie: when we go through a rout like this, the tech rotation is happening very quickly. it started off slowly. i am happy that the market is broadening out. this was the case in late 2016 as well. value took off, and left growth behind, and whenever i see that happen, i say ok, this bull market has broadened out. this is good news. what we do during these periods is concentrate our portfolios towards our highest conviction names, so that is what we are doing. we have extended the number of names in the portfolio from the low to mid 30's at the bottom of the coronavirus, and now we are at roughly 55 per hour flagship fund, and we are starting to sell more of the liquid names and buy some of the more pure play names. the more liquid names are either more mature, the facebooks, apples and so forth, or they are participating in innovation, but not pure place, so regeneron, novartis, and

that brings us to cathie wood with the launch of her space etf today.t you are not connected because obviously, the failure of one hopefully won't have an impact on the other, though i noticed it hasn't particularly shot to the moon today in terms of where it is. you got to carry on with these puns. but when she announced it, that she was going to be doing this, it did have a huge impact in terms of the asset. this is clearly going to be an area that investors are going to be focused on going forward. it clearly is going to be something that i think is going to be interesting. it was also interesting that elon musk was talking about his hiring needs earlier on. this is going to suck in huge amount of brainpower over the next few years. i wonder which industries are going to lose out as a result of that. alix: in addition to whatever the government is doing, it is really jeff bezos and elana musk and richard branson that are going to be leading the charge on that. and also, wealthy individuals in asia as well. so it does feel like a battle of the riches

katie: this is a really interesting look into cathie wood's mindset. made it clear she is sticking to the long-term picture. she's going to keep investing in disruptors. we got proof this week when the ark next generation internet etf took a $3 million stake in roblox, and that vote of confidence helped initially boost the stock, but it is down again 4%. alix: no kidding. yields, 1.62%. coming up, the effects on china with george magnus. this is bloomberg. ♪ rg. ♪ [ sigh ] not gonna happen. that's it. i'm calling kohler about their walk-in bath. my name is ken. how may i help you? hi, i'm calling about kohler's walk-in bath. excellent! happy to help. huh? hold one moment please... [ finger snaps ] hmm. ♪ ♪ the kohler walk-in bath features an extra-wide opening and a low step-in at three inches, which is 25 to 60% lower than some leading competitors. the bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. kohler is an expert in bathing, so you can count on a deep soaking experience. are you seeing this? the kohler

we'll break down cathie wood's latest bull case. >>> jim, i'll start wherever you want you decide the direction here, in terms of what we should start with our viewers here at 9:00 a.m. >>> i woke up and saw this deal and said to myself, this makes so much sense. i've been waiting for it i look at warren buffett's number, at the end of the week, they show you how much business burlington northern is doing and the numbers are about to cross into the low teens i think that rails are incredibly valuable because of scarcity david, the thing that i don't know, if they don't overlap, then why wouldn't the authorities go for it? >> it's likely that they probably, well, we can't pre-judge these things, the surface transportation board, we know, jim, from previous attempts, by various rails, with certain consolidation they haven't liked, but to your point, with no overlap, i think the expectation is more likely that they will say yes to the deal and of course, the way it's structured, and the way we've seen previous rail deals structured, you can even go back, way back to when there were deals

bigger than ford and gm and bigger than ford and gm together and toyota the brains like cathie wood or" contributor made a big show how they were being rigorous and baron and wood dreamers. i try to avoid talking to hedge fund managers but every time i said something positive about musk, i get a ton of blow back from them. i clearly too was a clown and couldn't read a balance sheet. what can i say once it became clear tesla could make money on cars which was last year this week and musk could raise the capital he needed, the deal was sealed and the stock was off to the races of course, we forget during that period the goalposts were shifted and pushed closer together, though, because tesla went from being a car company to a technology company hard to justify this valuation but if it's a tech stock that's a $674 billion market cap, that feels more reasonable. h hard to swallow. tech companies started being reclassified and crush hit without any profits. if door dash is a group of delivery people, it's worth very little but a tech company, 43 billion. if airbnb is a lodging business, ten

this is no knock on cathie wood. knock on wood.dn't like it i thought it was pretty good how many jokes do you get in a financial show she has an incredible track record if you expect a moldy trillion dollars investment, it doesn't matter if the inflation went out but the real question isn't whether we'll have persistent inflation, personally, i actually doubt it. the problem is there is so much institutional money that believes in the thesis, maybe the younger cohort will be able to take the stimulus checks and push this thing higher, but tesla stock is a heck of a lot bigger than something like game stock so until the bond market re- re- relents, tesla is stuck in neutral. there is always a bull market somewhere and i promis >>> there's breaking news out of boulder, colorado, now a large police presence at a grocery store, a king supers where the police department say there is an active shooter situation. we know people are being told to stay clear of the area we saw two officers escort this man in handcuffs out of the king super

casey, you got some thoughts about, you know, roblox, and this move by cathie wood >> yeah, well, funnyugh, i have a 5 and 8-year-old nephew, and they love the roblox, so i maybe i am more bullish than deirdre is. so there is a sort of the truism in social networks that whoever owns the youngest computer users of the moment owns future, and there is a great argument that roblox owns the youngest computer users and they are spending a lot of money today, and presumably a lot more in the future, and so frankly, they have given roblox a huge opportunity to build out a whole set of social products, and if you are looking at what facebook, and twitter and others have done in the social space s and roblox has an incredible foundation to build around. so it is not at all surprising to me that investors are flocking to the stock now. >> and same time, marvel did and disney did a good job to buying marvel and lucas film to have different slots to move people into as they are aging. it is not for them just about owning the youngest. all right. we will see. and finally the most expensive nft ever

romaine:'s today the day where we like cathie wood again? joe: every day. joining us for more, bloomberg cross-asset's reporter katie grayfield. were you alive the last time we had a day like this? katie: it is hard to say. if you boil into the market action today, yesterday we were action with -- we were asking where the dip-buyers were. today, we found them. you saw some familiar names up front in platonic, tesla. like most things in markets, i am going to argue that this boils down to rate of change. nothing fundamentally changed between today and yesterday. it is just that things got really stretched. if you look at the nasdaq 100 relative to the s&p 500 index, it was the most oversold since 1990. and i will admit i was not alive then. that is what we saw today, even though the consensus in markets remains for higher yields, that will pressure growth and tech names. today was really just about buy the dip. kailey: -- caroline: that will be our new measure for volatility, was katie alive? the time horizons, i keep hearing so many investors saying, growth

charles: speaking of rotation, ken, you're a big fan of cathie wood.he haters are laying it on thick as her fund is pulling back. are you staying on course? >> charles, we're a little bit underweight at the moment and the reason why, we hate to be in a stock or etf fund manager making headlines. the funds were under the radar. we had really nice growth there. one thing a lot of investors are saying, this transparency trade, every emails what she is buying, what she is selling does that really help shareholders? i don't think so. there is reason why warren buffett and other money managers, three months later, six months later what they bought and sold so they're not tripping over each other. cathie wood, a lot of transparency, a lot of people are buying off the newsletter that comes in and help ark shareholders at all. they're traders. building positions is difficult when you're let be everybody know at the same time what you're buying and selling. >> it worked well for her accumulating these assets but you're right, there are some things that might not

cathie woods, she put a new price target on tesla. 3,000 by 2025., a few years ago she said 4,000. guess what? it hit 4500 adjusted for a split. she was two years too early. she likes the robo-taxis. a lot of folks say doordash, uber, they will become a lot more profitable when they have no drivers. is? the is that a common theme why you like these as well? charles: that is one of the common themes. the main thing, it is network effect. disintermediation of the customer account control. it is also a data play they have going on. that is where insurance is coming from on the tesla side. also it is the fact that they understand digital monetizaton better than everyone else. it is not just a good or service. you can do ads, you can do search, you can do that with the tesla maps and the gps and this is a whole bunch of other services with starlink tied back to the digital cars and of course the electrical grid. she didn't include that in the electrical grid and electrification part. charles: wow. >> $1.25 trillion valuation is really possible. charles:

off its highest settle cathie woods arc invasion is in the red.gship fund that has dropped 24% from its all time high, including a 5% drop yesterday wiping out almost $23 billion in gains it had seen since the start of the year. some of the biggest holdings, include tesla, as well as square and roku. >>> some investors pricing in the $1.9 trillion stimulus package and looking ahead to president biden's next policy push cnbc.com's pippa stevens reads the tea leaves for the energy stocks. >>> much more on tech's move into correction, we speak to one investor who remains as bullish as ever and why raising rates may be one-half of the double usg my hitting the spring hoinmarket a busy hour ahead when "worldwide exchange" returns (vo) ideas exist inside you, electrify you. they grow from our imagination, but they can't be held back. they want to be set free. to make the world more responsible, and even more incredible. ideas start the future, just like that. >>> welcome back to "worldwide exchange." the $1.9 trillion stimulus package is winding it way

lineup as we mark a year for the pandemic we'll talk to ceos don't miss our first cnbc with ark, ceo cathi wood. we are out of time here. this show, thanks so much for watching "fast money" starts now. >> i'm melissa lee and this is "fast money. steve grasso, won win, pete najarian the chart master says it's time to pull the plug on the energy trade. big winner a handful of names breaking out in today's rally should you stick with that's trades later, virgin galactic, crashing back toe earth we start off with a big rally to end a wild week. stocks surging to the close with averages gaining more than 1.5%, every sector posting gains led by energy. the index started in the green buyers came in strong and it was off to the races rallying throughout the afternoon to close up nearly 2%. the range interday, 120 points, so what drove the bounceback grasso, what do you say? well, i only heard a little bit of your question, but i'm going to go with whatever i think i know about the market right now, because i have a sneaky suspicion that you're talking about market volatility. what we've seen is that sw

. >> and cathie wood diamond hands. gamestop and you come along with this incredibly large multi-trillion dollar market that has historically linked to stocks and you're old you're a boomer. >> practically you are a boomer >> i'm the ground zero of boomers. >> i know. >> but i'm not kidding these people do not link so they look at this and they say, carl, they say oh, things are on sale, because i don't know, they're on sale. >> some guy named powell. >> yeah, powell. >> powell. >> jay, jay powell >> who was that? >> boom powell >> who that's how old i am. first baseman, baltimore, i think. >> and they come in and buy, and they buy their faves and cathie wood comes in and buys tesla, she's been buying some crazy stuff, i don't know if you have been watching yesterday, what she's coming in and buying whatever's down. >> i got her list. >> did you get the list? >> i got her list there. >> snapped up some peloton yesterday. >> that's it >> talk about what, amazon, we have breaking news regarding the company this morning le

cathie wood's ark fund for example, hi was february 16th.incidence that's when the interest rates started moving up, the 10-year from 1.1 to 1.2 and that very day, within a day or two of that and that was the cap for a lot of the mega cap tech holdings and down 22% since then. not a big rout not a lot of people moving money out of the fund yet but she's off 22% from the highs on february 16th. where are we right now the key story is the reopening narrative still intact the most important thing that we've got, the vaccine rollout and the replacement story and the rising bond yields hurt the tech rally and the plome tum indicators are stalling out the mega cap tech names overall. finally, jim was mentioning the buzz etf, a lot of hype around this, jamie wise is on, at 12:30, the originator of the buzz, just started trading two minutes ago, the van eck social security number that attracts 7 a stock, most bullish sentiment, largest holding, no gamestop, twitter, draftkings, ford, american airline, facebook here, and so they're very aggressive sa

we will also have kathy would, -- cathy wood. cannot wait for that show. week with david westin coming up next. this is bloomberg. ♪ david: be careful what you wish for, vaccines and stimulus point towards a recovery, but it looks like a bumpy ride. this is "bloomberg wall street week." i am david westin. two former treasury secretaries. larry summers and jack lew. >> there is a need for a big package. david: johnson & johnson ceo. >> 100 million doses by june. one billion by the end of 2021. >>

of arc and best mint she's one of the top investment advisors in america she's very famous cathy wood and she's also a very very early investor in tesla and a big point as she said according to dow jones d.j. bitcoin may replace bonds kathy would says this is a pretty remarkable statement coming from her this is enormous because you think about gold is worth about 10 trillion because it is now hovering around one trillion so it's hovering around 50000 a coin that means if it gets this competes with gold what would would would mean $500000.00 a coin now if it takes out the bond market which is a $100.00 showing in that's $5000000.00 a coin in a bunker according to michael saylor micro strategy the entire global economy of roughly $400.00 trillion dollars worth of tradeable assets is can be hyper because not just the upside is really in the millions of dollars that is always going to be the problem right when you. 0 percent or negative interest rates and many government bonds there's some 1800 trillion in government bonds that are negative so if you have negative rates there and the jun

cathie wood estimates that tesla will reach a valuation of $3 trillion.t is your bloomberg business flash. kailey: that is $1 trillion more than apple is currently valued. quite the call coming out of cathie wood. coming up, a railroad megamerger. we are live with the ceo of canadian pacific about the $25 billion deal. that's next. this is bloomberg. ♪ guy: live from london, i'm guy johnson. kailey leinz is in new york. this is "bloomberg markets." canadian pacific railway agreeing to buy kansas city southern for $25 billion. this in a bid to create a rail nail work -- a rail network that goes through all -- that goes through canada, the u.s., and mexico. >> joining me is canadian pacific railway ceo keith creel. what does this get you? keith: thank you for having me, giving me the opportunity to talk about this transformational deal. this is so unique in the benefits. pro service, pro-competition, pro-north american economy. it is the perfect time. the stars have aligned to create a deal like this. you've got ceos bringing two very strong companies toget

that is what kathy woods -- this is what cathie wood thinks. say, a $3 trillion market cap at $3000 would be unbelievable. that is the called by 2025. finally, semiconductors added to the s&p 500 at the open. you get mixed results on the first day of trading whether aid is added to the index or not. this is going to be a stock we are watching that is close. jonathan: i love the idea that 1500 can be a bear case, but there we go. [laughter] lisa, i have learned a hard lesson over the last decade or so around some of these. i witnessed a clip a little bit recently of "60 minutes" from maybe 20 years ago, and the interviewer was a rees-mogg -- was very smug talking about amazon and why it was absurd to even think about it taking over series. the lesson i take -- taking over sears. the lesson i take from that is when it comes to asking questions about these big issues, you got to be somewhat humble given what we have seen. lisa: i would argue, perhaps now more than ever because we are in this technological revolutionary cusp, and people say there w

toomey finally, we want to draw your attention to some new comments from arc investment founder cathie woodsla, her most famous bet, and said it's leading the charge on several key technologies >> battery technology costs lower than anyone else out there and will remain lower. artificial intelligence chip, it designed its own no one else has designed its own chip this is analogous to apple in the day. >> wood said that she is not worried about the recent drop in her funds, which has been dramatic she said that the bull market is simply broadening out to include more strategies like value joe? >> thanks, beck. >>> let's continue the market conversation talk about how the tension between cyclical stocks and momentum stocks is playing out for investors. cnbc's senior markets commentator mike santoli joins us hi, mike >> hey, joe. it has acted as a little bit of a seesaw if you look at the setup for the qqq, the large cap growth stocks, it's obviously under a lot of pressure. represents an anti-momentum trade. i pointed out a couple of times since last week, that level, that peak from september

time because of that the second one, scott, is what's going on right now in quantumscape this is a cathie woodt years ago. now it's a $60-some-odd stock, with the stock moving up from 58 to 61. watch this one also april, both of these two call purchasing we are april i did buy at the monies and sold higher strikes against it, probably be in them about three weeks. >> go back to the box thing, you must have insight into this. >> sure. >> come on, there's a huge amount of call buying in the stock, you know, a day or so before a report comes out that the company is considering putting it up for sale because it's being pressured by an activist and we're all supposed to put it at face value, doc >> well, i suspect, scott, somebody knew that starboard was going to pressure this board and the owners are the people who run the companies, but they were going to pressure them to explore a sale if you knew that news was coming out. yeah, you could make some money off of that. whoever leaked that, because i don't know that starboard did, whoever leaked that, that is interesting news and it's valuable it's

cathie wood's fund has allowed its etf to concentrate on more assets in a single can security and take risk. last week, it removed ownership on a stock and language in. let's take a look at what we are watching as we head into the start of trading in asia. >> along with agl, keep an eye on the minor opposition from the indigenous population. keep an eye on news corp. as well. after it clinched a second deal in a week. buying a publisher for $349 million. this, as proof of a plan to develop natural gas, which could see a new wave of investments open up in australia. this will see the -- the existing gas facility. shery: we will watch those stocks as the market opens in sydney. this is bloomberg. ♪ so you're a small business, or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america. but is it secure? sure it's secure. and even if the power goes down, your connection doesn't. so how do i do this? you don't do this. we do this, togeth

you have a lot of people betting on bitcoin, and we hosted cathie wood a couple weeks ago and she's talking about it like becoming mainstream. that prophecy is being fulfilled over time. we're suing that come to fruition over time. >> a lot of the bit counsel news, the income it would likely have on a square, is there a chance they're actually undervaluing fin tech stocks square is trading at 175 times forward earnings i would look -- this is a great question, but the more important thing when you look at these names, you have to look at the terminal value so just looking at what they're going to do next year or two years out, you underestimate the potential future impact and you're like, wait, am i buying something now that, i think it's valued highly, but within ten years, they are the bank of the future, the money center bank of the future that's a have i big up side to it that's why we have that price target on square and paypal. >>> cramer raised this this morning, i'm curious of the tax implications, consumers and users of these different platforms, to be making these transactions in

, then i see cathie wood's rundown at 6:30, yes, she'll be there, just like she is with peloton, she thought the lawrencetown interview was extraordinary. >> phil did a fabulous job fabulous job how about the world dissemble? how about ill-advised? i mean that was an incredible interview, andrew. we got to note, that was it, that was called gotcha remember gotcha? >> where do you think the stock ends the day by the way, down 7% in the pre-market. >> then i got to ask david faber. but i don't know, i mean look at, the guy said he had serious orders when he came on "mad money," i think the guy thought he would have discussed with phil about hardhats. come on, that was unbelievable. >> i didn't understand the get-up but that's a whole separate - >> we got trucks filled. what's the problem here? we got a truck nikola had a truck but you had to push it i couldn't believe that interview. >> jim cramer, we'll see you in just a couple of minutes. >> you betcha. >> i can't wait to hear what you got to say you got more of it. >> everyone else feeling comfortable? i felt uncomfortable during th

the other name on the move, tesla up 2.3%, of course, a big call on friday from cathy wood saying these scenario, $3,000 a share on tesla by 2025. n.h.p. semiconductor down by .8 of 1%, it had been higher in the session, the first day trading on the s&p 500. i want to apple and tesla side by side and put into context their, i guess returns so far this year. as you can see, they have really trailed the s&p 500, both down double digits from the january highs, you can see here. now the narrative with the market really changing, when will we see a $3 trillion market cap for these companies and different voices participating saying it will happen this decade which is kind of interesting to look out for. it can't all be green, though, one name in the red is s.v.b. financial, the parent company of silicon valley bank. it's going to issue 2 million shares of common stock basically to fund growth, to fund its operations. it's been a beneficiary of the pandemic so far. if you look at its trading activity over the last 12 months, it's been lending those high growth tech and health companies many

you were listening when i spoke to cathie wood the other day, she and capitalizes what is controversialbout this market -- and she encapsulates what is controversial about this market. obviously making big bets and staying committed despite pullback across the board. michael: one thing that has been talked about a lot is that when you are in the structure she is in, she is not any venture-capital firm, not at a private equity firm, she is in vehicles or liquidity's risk is really important, particularly for the smaller, less-liquid names. so if investors are expecting the convenience in liquidity of an etf, but the names in their are scaling fast in terms of inflows and capital being invested in those companies, at some point you have a recipe for nasty downside performance, not just for that etf, but for those names itself. she really hasn't so far. so that is one thing. it would be nice to see how she is thinking through liquidity management as she scales her atf. -- her etf. on the other hand, she made a good point in your interview about the fact that growth versus value, so many va

apparently, cathie wood's ark investments removed an exposure on concentration risk so they can add more and do more concentration of individual stocks. so it kind of exacerbates that leverage risk in the markets conversation. guy: she was talking about this the other day, actually. she kind of implied that this may be something she was doing, tightening up the portfolio, looking for the ones they really believed in. tesla is one of those. you look at the rise tesla has been on. anyway, it is going to be interesting to see how that one goes. stephen king is going to be joining us next. we will get his take. this is bloomberg. ♪ wanna help kids get their homework done? well, an internet connection's a good start. but kids also need computers. and sometimes the hardest thing about homework is finding a place to do it. so why not hook community centers up with wifi? for kids like us, and all the amazing things we're gonna learn. over the next 10 years, comcast is committing $1 billion to reach 50 million low-income americans with the tools and resources they need to be ready for anything. i

we said this today about cathie wood's arc fund. there are others.e saw alix steel talking about gold, which is fascinating. stocks coming down as bonds come down. could be bad news for the market in general. now let's get over to scott. jay powell was just speaking. he said there is a lot less to do before the economy is healed. what it would take to make him worry. >> i would be concerned about this sort of the conditions where a persistent tightening threatens the achievement of our goals. i would be concerned of those things were to happen. matt: let's get a will to reporter cinelli graseck -- sonali basak. scott, let me get your reaction to the powell comments. traders are positioning for the fed to raise rates before 2023. the markets want powell to prove he's going the other way. scott: i think the fed is finding itself in a bit of a dilemma here. they need the markets to remain relatively favorable to achieve the long-term employment goal. at the same time we are starting to see inflationary pressures which i believe, and the chair says himse