"techcheck" and cathie wood starts right now >>> cathie wood. >> cathie wood. >> cathie wood. >> will join us on "techcheck." >> i've been waiting for this for my entire career ark stood for two things, democratization and transparency we're focused on innovation and very rapid growth companies. zoom, those who invest in technology are going to basically consolidate the industry our confidence in tesla, tesla, tesla, tesla has gone up for a number of reasons. elon musk's determination, creativity, ingenuity, roku, counterpart risk associated with deflation and i think bitcoin would be a hedge against that eventuality. teledoc, what you will not see us do with the chinese stocks is pull out of those names that are more endemic to china itself shopify, coronaviruscrisis changed the world dramatically and permanently. consumers and businesses are not going back to the old world. i loved being a woman in this industry this is amazing. >>> good thursday orning, welcome to "techcheck. i'm carl quintanilla with deirdre bosa big day ahead. cathie wood is with us at 11:30 a.m. eastern time. re

cathy, cathy, as if he was hoping she'd come walking out of that burning forest., which is how gerald johnson, a brand new detective at the time, found himself deep in the georgia woods early that autumn morning. >> what happened up there on the hill was -- well, you -- you can describe to me as best you understood at the time what had happened. >> sometime during the night, he had gotten up, according to his statement, to go outside to use the restroom. and as he came back to the tent, he realized that he had been bitten by something or was having some type of reaction, that his throat was closing up and -- >> a sort of anaphylactic shock type reaction? >> well, that -- that's what i described it as. and she takes him out to this toyota pickup, if i remember correctly. he's crawling on his hands and knees at this point and having all these symptoms of some type of allergic reaction. >> johnson mostly just observed, he said, as the georgia bureau of investigation looked into what happened. but took no action. and eventually, the coroner ruled cathy's death an acci

cathie: yes.terms -- carol: in terms of the recent crackdown, does it make you pessimistic or optimistic about investing in chinese stocks? you are a longer term investor, so what is the longer-term play? cathie: we do know that china wants to be number one in the world economically, certainly. one of the ways they want to do it is with innovation, with technology. they want to bring more of us back into the country. certainly the manufacturing side and semiconductors being one of the most important areas in which they are investing. i have watched them invest in semiconductors since the early 1990's. they brought in a lot of taiwan semiconductor talent and they have not been able to crack the code. shery: arc investment manager kathy wood speaking with carol massar. -- cathie wood speaking with carol massar. sophie: japan may see ¥1.4 trillion more, really dipping into reserves. we are waiting on a formal announcement on the emergency the eight pre-sectors. their futures are unchanged so far this

as far as cathie wood's stance on china, you see it in the filings.funds following her out of china but there is a lot of exposure out there. matt: she gave michael props on his house and call but says he doesn't understand what he is talking about when it comes to innovation and growth. >> she has defended all of these bets over the longer-term, so what will stick in the portfolio over the next five years is worth watching. it is interesting, the reversal of her call on china. she acknowledged that china was ahead in many innovations in financial services. something else happening in the market is the big bet on the banks. sofi was one of the most bought. matt: always bring us the best interviews. sonali basak. for greg pennell, i am matt miller. this is bloomberg. ♪ bloomberg. ♪ so...i know you and george were struggling with the possibility of having to move. how's that going? well we found a way to make bathing safer with a kohler walk-in bath. it has the lowest step-in of any bath. it has handrails, a wide door, and textured surfaces. so it gives

here's what's coming up next >> cathie wood rolling the dice on a gambling stock. big on draftkings. so is this a jackpot stock plus, tim is stepping up to the mound and getting ready the throw some heat for his fast pitch and this one could be a total home run investment. we've got that and a lot more when "fast money" returns. >>> shares of draftkings rallying today as cathie wood loads up buying another million shares during yesterday's session the stock now makes up more than 2.5% of the ark innovation etf, but that fund has been struggling of late check out the moves off 52-week highs for the fund's top holdings tesla, down 21%. roku down 28%. coinbase down. unity down from its recent highs. were any of these beaten down names worth a second look or maybe it's just not the right environment for an etf like cathie wood's? dan, what do you think >> well, it's the right environment because we're seeing all sort of flows into the really innovative tech we're seeing a lot of it in the private markets, too, and i think her time horizon from what i can understand fro

cathie wood will join us tomorrow on "tech check" to talk about her bets, why she makes them and thearger forces at play meantime look at where the ark valuation is right now bring in professor of finance motoroff great to have you back talk about ark you have said that her able and willingness to make big bets is kind of a superpower or at least it has been. right? >> yes it explains why she is so successful at least over the long term but i think a weakest link and people that put the money in the fund is the micro stories of ark weakly thought through. if you don't know value wags the worst thing to do is do valuations and show the world you don't know what you're doing and looking at actual value wagss of companies by ark my reaction is a complete -- the story is not thought through. >> explain i guess we kind of have to guess. what makes sense to you within that >> look at the macro story and still lose out if the micro stories are wrong and they bet on the weakness at the micro level to catch up with cathie wood and ark and not guaranteed it will. momentum drives everything so

i didn'texpect cathie to come in but the shorts got too heavy.tarted shorting again this morning. there's no there there the way this is going to play out is very as i remember. they will never comply the chinese companies will never comply with the requirements for audit transparency that every other publicly traded company on u.s. exchanges has to comply with and gensler has said they will be delisted. when they're de listed, i've said it before, i've been to court with chinese companies in the cayman because you can't sue them here, you have to sue them in the cayman islands. when they will do that, they will come and trade what you have for nothing because it's worth nothing. you own rights you don't -- when you -- and i laugh when people compare them to u.s. companies. u.s. ceos don't disappear in the middle of the night. u.s. shareholders own assets backing up these companies u.s. shareholders have a right in the hierarchy if these companies don't do well for china. all you own is a revenue stream that may or may not be there pinduoduo is l

cathie wood or aunt cathie took to twitter to respond to the story writing in part, quote, i do not believerry understands the fundamentals that are creating explosive growth and investment opportunities in the innovation space. worth noting, carl, the filing also revealed that burry you said his short position in tesla with put options there worth about, sr. 730 million. >> we definitely pay attention to burry trades, dee >>> speak of etfs with leslie picker is looking at tech stocks and fund managers including the drawdown in spacs. >> hey, carl a lot of movement as far as tech goes, spacss go, lots of fund managering paring back a special purpose acquisition vehicle. more on that deal in a moment. he dissolved small stakes in several others he had recently acquired david i einhorn pard back exposure to spaks all of which were small diversified stakes as well kor vax had a sprinkle of spac soltd out oh alt mayor hudson executive acquisition corp. and vd acquisition corp. all of which merged with the targets during the question. trlg global boosting stakes in zoom, zoor dash wsh peloton an

the floor show, about to take sides between hedge fund star michael burry and investments guru cathie wood and the ceo of one of cathie wood's favorites unity software is here, if video game sales went through the roof during the pandemic, they are skyrocketing into orbit right now, how the platform for game developers, yeah, unity, plans to grow as people return to work and school, and some of it doesn't even have to do with video games. let us get to this breaking news at the very top here we go it's 11:30 p.m. in afghanistan, and u.s. commanders have apparently regained control of at least the evacuations out of the international airport in kabul, where tens of thousands of people, including american citizens, have swarmed the terminals desperate to get out you've got c-17 cargo planes stuffed with passengers they are taking off under the watchful eye of military in america who remain in contact with taliban members who are still outside the airport. the state department says it expects to evacuate between five and 9,000 people per day, and the revels who over through the afghan go

cathie: yvonne: yes.nne: in terms of the recent crackdown we have seen, does longer-term make you more pessimistic or optimistic about investing in chinese stocks? you are a long-term investor so what is longer-term play? cathie: we know that china wants to be #1 in the world and economically certainly and one of the ways they want to do it is with innovation and technology. they want to bring more of it back into their country. certainly the manufacturing side , semi conductors being one of the most important areas in which they are investing. i have watch them invest in semi conductors since the early 90's. where they brought in a lot of taiwan semi conductor and i haven't been able to crack the hook dashcode. -- cracl tjhe -- crack the code. yvonne: [indiscernible] jd logistics is one. [indiscernible] david: we can take a break but we will be with you after pay. sales are up 90% for the company missing earnings. we will speak to the cofounder next. this is bloomberg. ♪ yvonne: after a net loss of 700%,

guy: cathie wood speaking to bloomberg a few days back. not the only fund manager souring on china. the latest disclosures by hedge funds show selling adrs in big names. for more on the big move from these hedge funds and other popular trades we are seeing highlighted, we are joined by bloomberg's sonali basak. walk me through the china trade first. sonali: very interesting from cathie wood, who has said there's been a lot of innovation coming out of china, particularly in payments and financial services with wechat and ali pay, but the stance china is taking could create a longer headwind in terms of valuation, and perhaps in the u.s. as supply chains escape and become vertically integrated. she speaks to tesla, for example , which we know is one of the top holdings in her flagship fund. an interesting thing, in other cathie wood news, you see at the end of the day, you have them shorting tesla, having these puts against cathie wood, her really negating his view here. but there's no dispute that as far as valuations go with china, that is

>>> meantime oil, copper and steel down big what's behind the momentdown earlier on "tech check" cathie wood pointed to the delta variant, the fed and the rising dollar making materials less attractive. >> the third source of deflation which is really starting to come through now in a noticeable way started in mid-may when lumber prices broke we are seeing commodity price deflation. we have gone from -- lumber prices have been cut to one third, less than one third of their keep 17.11 to 400 rite now. you have copper down roughly 15%. you show have oil down 15% to 20%. i think the cream of the crop here and the reason this may be happening and may accelerate to the downside is the dollar is going up. >> our next guest cites more reasons declibehind the decline ed, explain why the chinese situation is wreaking such havoc. >> it's kind of easy when you think about china being the largest commodity importing country in the world they have 50% of the copper that's traded. what happens in that economy will affect all commodity sectors. they also look at the price of things and they take actio

cathy hochul from buffalo, not well-known outside of buffalo very much.ernor? what can they expect from her as governor? >> they're going to see she's qualified. she's been in government for a long time. while the general public may not know her as well members of the party do. she's been a very active lieutenant governor. she knows the states, knows the issues. she's also got a great manner about her and i think she'll have the capacity to make with the legislature in ways to bring about the change that new york needs and to lead us in the way that we've been used to being led by andrew cuomo. one of the great things i think andrew cuomo did as governor is select cathy hochul who's absolutely ready to serve in the position of governor. >> i think i just heard you say possibly misspeak and say 52 states and i think you meant or said 62 counties, right? new -- meant or said 62 counties. >> 62 counties. >> and it used to take senator moynihan six years to cover all 62. he was always proud of doing that. democratic chair jay jacobs, thank you very much for j

haidi: cathie wood. let's get the first word news.e: how's lawmakers voted 220-212 on that $3.5 trillion economic repent. nancy pelosi struck a deal to end the standoff. the plan moves to a reconciliation process with the house and senate will vote on. a final vote on a separate $550 billion infrastructure bill will follow. president biden says the u.s. military is on pace to complete the evacuation of thousands of people by august 31, despite what he described as a tenuous situation. biden earlier rebuffed g7 calls to extend the deadline for trips to remain. -- troops to remain. he also warned there is a risk of a breakdown in the country, and the world will judge the taliban by its actions. kamala harris left singapore more than three hours late en route to vietnam. the state department blamed the delay on what it calls an incident in hanoi. the agency has used that phrase to describe instances of so-called havana syndrome. the white house says it was not a confirmed case. the sec is demanding more than 250 chinese companies trading

cathie: yes.ms of the recent crackdown, does it longer-term make you pessimistic or optimistic about investing in chinese stocks? you're a longer-term investor so what is the longer-term play? cathie: we know china want to be number one in the world economically. one of the ways they want to do it is with innovation, technology. they want to bring more of it back into the country, certainly the manufacturing side, semiconductors being one of the most important areas they are investing. i have watched them investing semiconductors since the early 1990's. they brought in a lot of taiwan semiconductor talent and have not been able to crack the code. anna: cathie wood giving her thoughts on china. let's talk to janet mui, director of investment, brewin dolphin. the clampdown has greater problems for those with exposure. do you see any opportunities? cathie wood says they have increased exposure to things the chinese government likes, others point to small technology companies and say the reglet tory c

cathie wood addressing her critics. those stories and more, as we take you into "the market zone." 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. and there you have it- woah. wireless on the most reliable network nationwide. wow. -big deal! ...we get unlimited for just 30 bucks. sweet, i get that too and mine has 5g included. that's cool, but ours save us serious clam-aroonies. relax people, my wireless is crushing it. that's because you all have xfinity mobile with your internet. it's wireless so good, it keeps one upping itself. first up is this exquisite bowl of french onion dip. i'm going to start the bidding at $5. thank you, sir. looking for $6. $6 over there! do i hear 7? $7 in the front! $7 going once. going twice. sold to the onion lover in the front row! next up is lot number 17, a spinach and artichoke dip, beautifully set in a hollowed-out loaf of sourdough bread. don't get mad get e*trade and get more t

for "sunday today" cathy park, new york. >>> she is just amazing. cathy, thank you very much.o with three more races to come this week. you can catch all of the highlights today at noon eastern. >>> this week we highlight another life well lived. rosa parks was arrested on this day after refusing to give up her seat the front of a montgomery, alabama bus, but a disagreement with that bus driver six months earlier started the change. she was riding, a bus driver, the one that would order rosa parks to the back of the bus, tried to run lucile off of the road. they had a screaming match that got physical. lucile complained to the bus company and wrote letters to the local newspapers, but no one was interested in her story. lucile personally picked up black riders waiting at stops to drive them where they're going. she and her husband charlie ran a coffee shop across from their home called "the times cafe." a local hub for the black community and a meeting place for civil rights activists. they took calls from passengers and organized rides. shows the naacp the power of the boycot

this is what cathie wood had to say. cathie: china has made it a priority to invest in innovation. am wondering if something is changing there. every month there has been some new form of increased regulatory oversight, crackdowns, social engineering, nationalizing online education. it seems like that could be contradictory to their desire to become one of the most innovative countries in the world. >> of course, as we continue to monitor those, what these top investors are doing when it comes to adjusting their portfolios, we are also watching liquidity when it comes to the treasury market. as we look ahead to jackson hole , any messaging of the pathway of monetary apostle -- policy and tightening. we are seeing one sign on liquidity, the impact of each trade and the footprint on its ability to move the market is shrinking to the lowest in about five months. that is one interesting signal we are watching out for particularly as we expect more volatility in the treasury market. >> ahead of that jackson hole meeting, we are watching for weathered chair powell will say anything about

alix: is this just a cathie wood pop basically? was it bargain-hunting for her?e you hearing? dave: part of a broader move, for sure. if you look through the whole thing, you see that the shares of the adrs of jd.com yesterday went into the autonomous technology and robotics fund, a rkq, not her main fund, arc innovation, which there has been so much focus on lately, having gotten out of chinese companies after having been in at roughly an 8% stake back in february. so a bit of a reversal here gets your attention. part of a broader move for this group, so you could argue that part of the reason, but not whole reason. alix: she talks about it, we talk about it on stevie -- we talk about it on tv, everyone gets jazzed about it. dave wilson, thank you. coming up later today, cathie wood will be joining bloomberg, so get that feedback loop from her there. coming up on this program, house budget chairman john yarmuth says the house will vote at 1:15 p.m. on the budget. we will break down the odds of any infrastructure bill passing with terry haines, pangea policy foun

"techcheck" and cathie wood starts right now >>> cathie wood. >> cathie wood. >> cathie wood. >> will> i've been waiting for this for my entire career ark stood for two things, democratization and transparency we're focused on innovation and very rapid growth companies. zoom, those who invest in technology are going to basically consolidate the industry our confidence in tesla, tesla, tesla, tesla has gone up for a number of reasons. elon musk's determination, creativity, ingenuity, roku, counterpart risk associated with deflation and in

cathy's clown, written by don, was their biggest single. # here he comes, that's cathy's clown. # wayose harmony began to break down. being a duet in the music business, and being the kind of duet that phil and i are, you know, close harmony and nose to nose, right up onstage every night, when we were working, it puts a lot of strain on the relationship. # bye bye love. # bye bye happiness. the brothers split. # hello loneliness. # well, i think i'm going to cry. ten years later, there was a brief reunion, but don, liberal, outgoing, was in many ways the opposite of his more conservative brother. they went years without speaking. # goodbye, my love, goodbye. but when phil died in 2014, it was a reminder of what they could only do together. the heartache and harmony of the everly brothers. cheering and applause. don everly — who's died at the age of 84. there's more throughout the evening on the bbc news channel. now on bbc one it's time for the news where you are. goodbye. hello, this is bbc news with shaun ley. welcome back. in just welcome back. injust a welcome back. in just a few

first, cathie wood buying shares retail interest as well.t is the most mentioned stock on reddit according to data from thinkdom hedge funds were likely jumping in on that aksz action as well in the options market, the moves on wednesday coincided with a rush of trading in options it was the first day options were available for robinhood stock. >> it is like the he had metameme stock it made a lot of money in the first quarter from the gamestop saga, people trading whether it went up or down. in a similar sense it doesn't matter, because their core business kmrks relies on trading is actually seeing more growth if people and their users trade up or down. >> it is ironic, they were the enabler of the meme stock saga the now they are one of the most mentioned names on reddit. it will be interesting to see how it turns out for robinhood mentions on social media tend to be good and drive user growth. we will see if it ends up being sort of its own viral moment. >> and bad social media mentions as well. i wonder if they will pull an amc and raise

to take is another step is really cool. >> we've had guests on, i think of trim bull, also another cathiename that's been invested in that has talked about how undisrupted some of these sectors have been or slow to adopt technology and how big that opportunity now is. so perhaps that will continue to become a bigger part of the deere narrative. back to your point, consumer's been strong. we've seen it in the retail numbers all week spe especially notable, the fact that some of the mall names like a foot locker or like a macy's have been doing pretty good. they might not be shopping as much online, and we saw that in the retail sales numbers they certainly seem to be going out and spending it's just how sustainable is it and what does that look like coming off of stimulus checks and everything else. >> it's definitely events split. foot locker up 11% the guidance was not so great looking at a weak kwq3 we're going to talk to foot locker on closing bell a beat 139 above $0.98 and revenue had the outlook not as strong it is a definite tug of war between some of the specialty retailers. think

wood and michael burry, of course everyone knows cathie wood now.e, who do you think is going to be right? >> i'm going michael burry, no pain no gain, of course that's p ayne. you can see that ark fund go up but at 120 times forward earnings it's like the dot com part two on steroids so i think all these stocks are completely overvalued like gary just said there's a lot of over valuation. we know how the tech bubble bursts we'll see a lot of the same. charles: real quick, gary i got 10 seconds, nvidia after the close, are you in either of them? >> i am not. i think in a bear market hood is down 50%, nvidia great company but i have no clue what's going to happen after the toss of a coin. charles: yeah, yeah, i have nvidia from a long time ago but it is so extraordinarily volatile. my brother from another mother great seeing you both always great information and the market which is sideways even after we digest the fomc minutes so what's going on i have a feeling liz claman will help us out? liz? liz: i don't know, charles you've got to look at the s

now the guy who called the 2008 financial crisis betting against cathie wood.eights. who is going to come out on top? i have the perfect guest to handicap it all right after the break. ♪ before nexium 24hr, anna could only imagine a comfortable night's sleep without frequent heartburn waking her up. now, that dream... . ...is her reality. nexium 24hr stops acid before it starts, for all-day, all-night protection. can you imagine 24 hours without heartburn? ... growing up in a little red house, on the edge of a forest in norway, there were three things my family encouraged: kindness, honesty and hard work. over time, i've come to add a fourth: be curious. be curious about the world around us, and then go. go with an open heart and you will find inspiration anew. viking. exploring the world in comfort. (vo) at t-mobile for business, unconventional thinking means we see things differently, so you can focus on what matters most. whether it's ensuring food arrives as fresh as when it departs. being first on the scene, when every second counts. or teaching biology wi

guess what, cathie wood will be on the other side of that argument. analysis and her research and her understanding she will buy more because she is in it for the long term. she is not in it for the next two months or three months. i found that argument on twitter very entertaining because they both could be right. depends on your time frame. charles: i think he is looking for the kill, i hate to say it. i'm with you and cathie wood. i think she will win this thing. i think she is remarkable. people have to be patient to let the things work out. i could keep coming -- >> he is not a dummy at all. i think his trade is -- charles: he is not. i'm with you. i'm with you my man. we'll talk again soon. >> he is trading more short term. charles: all right. i hope for his sake it is because i don't think he will win long term. meanwhile folks, another day, another official taking a shot at the crypto movement, this time in the cross-hairs. at what point does regulation derail the whole thing? could it happen? although smart money warned the death of malls and

one of those fund managers has been kathy would -- cathie wood.he has been close to zero in terms of exposure to chinese tech, here is what her case is, take a look. >> china has made it a priority to invest in innovation. i'm wondering if something is changing their, though. the last since november, every month there has been some new form of increased regulatory oversight, crackdown, social engineering, nationalizing online education companies. it seems like that could be contradictory to their desire to become one of the most innovative countries in the world. david: tencent is a key victim of china's crackdown on the tech sector. they reported their first profit decline in almost two years. yvonne: our chief correspondent with expectations. is in about numbers or regulation? >> it's all about regulation because the numbers are reflected. otherwise, it would be a juggernaut. we all know $766 hong kong earlier this year in january is down now, $441, it's lost $416 billion in market cap. it has risks of falling out of the top 10 of the world's mo

tom: alongside cathie wood, we have heard from u.s. regulators. the sec is requiring the more than 250 chinese companies trading in the u.s. to better inform investors about political and regulatory risk. the sec chair said the new rules will come into effect early next year. for more, we are joined by bloomberg's equity and capital market reporter. we heard that the clock is ticking. >> he said the clock is ticking. this is in relation to the accounting issue, an issue that has spanned two decades, chinese companies listed in the u.s. that do not allow u.s. regulators to inspect their audit books because of national consider -- because of national security concerns. this should result in potential delisting. gensler said he will start implementing that rule, so the clock is ticking. at the same time, he is pushing for more disclosure of the political risk that chinese companies face and the regulatory risk, in the wake of what happened in the past few months, the various policy moves which have led to sharp losses in many chinese stocks. both tho

cathie: they are sending a strong message. use expressions, as they did with online education companies, they said it had been hijacked by capital. that sounds a little rough on capital. i think the valuation of the market is going to stay down for a long time until they become more inviting to foreign capital again and maybe want to integrate more into the world than they seem to right now. we do own, in more specialized funds, chinese stocks. i have tried to stay away from those that are privy to a lot of private information and our online, although you can't stay away from all of them. but we have minimized our positions significantly. in our flagship fund, we do not own any more chinese stocks. emily: cathie wood. full interview at bloomberg.com. plenty more ahead. boundary technologies up more than 230%. the company saying it is preparing for another black swan event. stockpiling gold bars. they spent $50.7 million on the precious metal this month. inviting customers to pay for alsoinviting customers to pay for its data a

. >> cathy hockel is about to loose lieutenant from her title. her first public comment from 24 hours ago. where is she and what happens to quo moe when he is out of office. we'll break that down for you. and democrats working on a 2.5 trillion budge deal and we'll look at what is next for that plan and the bipartisan infrastructure bill. it imagined to get a fair amount of support. comcast nbcuniversal is investing in entrepreneurs to bring what's next for sports technology to athletes, teams, and fans. that's why we created the sportstech accelerator, to invest in and develop the next generation of technology that will change the way we experience sports. we've already invested in entrepreneurs like ane swim, who develops products that provide hair protection so that everyone can enjoy the freedom of swimming. like the athletes competing in tokyo, these entrepreneurs have a fierce work ethic and drive to achieve - to change the game and inspire the team of tomorrow. >>> roughly two-and-a-half hours from now we'll hear from the woman set to take

cathie wood has been bullish on china. they have not really, did publicly on why they are offloading these shares. if you look at the sweeping crackdowns, the broad nature of the investments they are targeting, whether that would be a viable place to put money. emily: to recap, the chinese government trying to step up regulation, but of course that was kicked off by the chinese government in moves the chinese government has made. our international investors in general responding to this -- how are international investors in general responding to this crackdown? katie: even by the end of last week, after that dramatic crackdown on the private education sector on monday, by the end of the week you saw chinese state media trying to urge calm. chinese regulators said to be meeting with banks. nearly a trillion dollars was wiped out of chinese equity markets last week. there really two ways to look at this. most investors are saying it is unknowable if this is the extent of the crackdown or if there is more to come. the index i

wood selling their tech shares and hurting sentiment with etm investors and they are following what cathiewood is doing now. david:that takes us to the tencent conversation, telling investors to brace for more regulation in the sector. yvonne: let's cross to bloomberg intelligent research analyst for technology. matthew, your takeaway on these earnings? matthew: if you are an investor in tencent or alibaba, yes, regulations are concerning but on the positive side, it is harder for smaller place to compete with them. we have seen the smaller companies come up in china, they burn through cash and that is becoming is incentivized. -- disincentivize. -- disincentivized. so the monopoly of these two platforms is going to be more insulated than it would have been without the regulatory crackdown. the negative is that it is going to be more costly for them to operate. their margins are going to be structurally lower. we don't know how much yet. but when you look at facebook 2018 when they had to hire content moderators, that tank their margin and hurt their stock price and it is not out of the qu

oh, cathy. bye bye. yes. miss, i can, while you can call me who do i need to know? living, let me sit here together, dane, and one day he turned to me after watching an interaction between mother and catherine. he said, he's an elephant. he's a people. this like us. they interact with each other, they have emotion, just really hit me. well, you see something incessantly advised her. you know, i can appreciate him for many things and he can appreciate me. we're almost like an old married couple in a way. oh, oh yeah, yeah. but to me, going to buy and got a war to buy one to 5 pm to buy on them and now and yeah, i think i met up below. i got the mostly met with him. i got there at the i think he got done. i'm somebody i think i need to call spoke up now doing good bye bye bye. hello. mobile. one of our new building was my mama, one of them. i think i'm not jungle. and google, my mom younger nor my mama weren't among ali muffin, blank warner my at the moon. mumble got the got the while while while my wife one is a fuck under boy, welcome to whoa, whoa, whoa, whoa, whoa

elon musk, cathie wood. cathie wood, her ark investment fund has really unloaded those chinese equities. given the recent crackdown in china. but she seems to be leaving the door open for interesting companies in the innovation space. perhaps we could see the likes of cathie wood and some high-profile investors back in the game. >> there are some interesting signals that perhaps investors are starting to find the bottom. chinese equities, still lagging asian peers. we take a look at the 300, up or than 3% on the year. i want to look at the best performers. what are you looking at? sophie: chinese stocks have entered the ringer on regulatory uncertain diprete we have seen a tilt toward growth. markets like vietnam, taiwan, singapore. the population at the city state now 7% fully vaccinated. the economy, resilient. we have got that improvement in the jobless rate. when it comes to that export picture, j.p. morgan and hsbc warning that the electronic cycle may have peaked in asia. even with chips very much in h

charles: speaking of choppy, mitch, word out now that cathy wood actually likes some of these chineseing, apparently she's buying jd and others. are you a buyer? >> there's certainly a macro issue with china around transparency, and i think one of the things cath wood and the arc team is to be able to see things that aren't seen. so maybe the reality is cathie wood has a lens that we don't have, and that's why she's back to buying china. charles: but you're not. not yet. >> me, well, i'm doing it through her. i'm still a fan of many of her funds. i've hitched my wagon to her horse. charles: okay. hey, bond yields, the 10-year yield is spiking right now. we're getting a little bit of pullback on the markets but not a lot. is that just anxiety, real quick, mitch if, ahead of this jackson hole meeting in. >> 100%. i was talking to bond traders throughout the week, and i think they're going to read the tea leaves and listen to the words carefully, and right now there's some trepidation out there about what rates will go up and when tapering could start. you see a little movement among som

. -- cathie wood, whose strategy has increasingly drawn critics. calls on china, cryptocurrency, on electric vehicles, you know, they have all been within the realm of controversy. are we starting out to see the sort of shine come off everything that cathie wood touches turns to gold type theory? shery: we are seeing more high-profile investors speaking out against some of those calls made. we have the cio questioning her valuation expectations and those other names also really having the short positions. short interest on the etf's rising since the end of june to almost 5% of outstanding shares and you can see the latest tweets coming there. there were few of them overnight. about 37 tweets of unsolicited advice on the nuances of valuations and return ratios, but all in all in all really, not too happy with cathie wood, so we continue to watch that developing story. coming up, we malaysia as search for its next prime minister with a political expert of the singapore institute for international affairs. he joins us next. this is bloomberg. ♪ >> bei

i want to introduce cathy cook to come forward and say a few words. >> good afternoon. can you hear me? okay. when i pulled up, i saw whole groups of young men across the street. that's why i'm here. when i look at you, we are preaching to the choir because we know what we need to do. i used to be a deputy executive director and i touched the lives of these young men that you see on the street, but they're gone. i am hurting. i am burrying my son on tuesday i didn't get a chance to say good-bye. i begged him to be vaccinated, he wouldn't do it. so he had to leave my house because i wanted him to be safe. i saw him july 7th and i looked through the gate. i said have you been vaccined? vaccinated? and he just threw his hands up and all i saw was his back. it took them three days to find me. he was in kaiser in oakland. he was dying. he had acute pneumonia and he had all of these bacterias in his body that was eating up every organ he had. and my message that i would like to get out today to the masses, if you're anywhere from 38 to sixty and i have a group of about twelve

like, look over there. >> oh. >> cathy >> his mom and dad, al and cathy and son, eddie, his wife, amanda the mom and dad responsible this guy, huh? we say thank you hi, cathy. >> oh, it's good to see you guys >> wow >> hello, hi, guys >> did you know how much rope was loved by all of us here? >> now we do he talks about you all the time and you've made him part of your family it's just been such a great experience for him >> a lot of people don't realize, our guys wake up at 3:00 and 4:00 in the morning imagine that for decades how is it going to be to have rope at home all the time? >> uh-oh >> it's going to be wonderful. >> we are just delighted rope, you bring so much more than just your skills as a camera operator. you bring a lot of light and a lot of heart even on hard days around here. >> you are truly part of this show it's going to be hard to replace you, my friend >> who is going to tell jokes with al? >> half my material comes from rope >> rope, you're known around here for your puns so we wrote a little poem for you, okay? so i have to back up the prompter, please i wrote thi

now are we in a bubble i agree with cathie woods we're not in a bubble. can we see a pullback?e can and we will see a pullback i read your piece last week and you said that economists have been talking about a 5% pullback and they've been continually disappointed i thought that was an awesome line last week i agreed with you. two things have changed i think since you wrote that piece that have tilted my way of thinking a little bit one is china you know, surprise, china is a communist country, personal wealth, these things are frowned upon in that establishment. >> right. >> and two, the delta variant, i mean i think it really is a third wave businesses are changing the way they're reopening. we heard about a lot of companies pushing back the reopening until january. personally i was scheduled to speak at a lot of conferences between now and the end of the year and across the board. all of them, they've been canceled, pushed back, gone virtual and maybe they found a better keynote speaker but i'm not going out and traveling. we're seeing things change and volatility is entering

cathy clearly who shall bring up what all bottles do you want me email if i need to ask you just about what you're gonna hate to expect. you guys get the funding that it had to go out and then suddenly showing in there was a dental sure. so you could get the social most estimate of what the sure of course you have a loss gay home keeping up with that mean greystone this illema. how should i stick? i mean i think it's going to be so good thing. i mean, day, what does she go on? and he said, well, you can, why she don't this. he's again. yeah, you buy them a carpet. they're more shocking. i must say. for the local toyota scoop, they've denied me. i still this report, gordon debunked june. chuck jeremy lee. you holly, i would, i give i was i had to meet the truck i did. gosh, i'm not a lot dot on upper left hand to she can call any any messing car one nissan or do you get a new or seen the skunky messing? why does she know this? is what she say, but what must, there will be? must i know out of the gate at the she has to do my guy eat much at the start the height, the katie. oh my quino sh

than a lot of traders not every one of them, of course but i think this is an absolute game changer cathie woods is right again. does that mean you scramble in and buy it like steven said? i don't think it's going out of business in day at all, scott. because, again, they have 20 million accounts, funded accounts out there trading daily and monthly. and then they've got the crypto side as well >> yeah >> so you've got a dual kicker for in particular company. and like i say, any trued did disrupt. and somebody is going to be out there -- if it even dips somebody buys them >> i got to tell you, you know, when i asked you the day of the ipo you were on the show and you thought it was overvalued at $38 a share. so how is that -- >> yes,dy >> how do you build a fundamental case that was overvalued at 38, but now worth buying at $60 with a fundamental case come on >> supply and demand >> if in wasn't part of the whole meme mania, would you il really be getting in on this, doc? let's be honest >> well, yeah, you are correct, scott. that's very well said by you and no, i would not. if it weren't f

>> well, cathie's great. got a lot of respect for her she just does something different than what i do i don't think we're in a bubble. i don't think that's the issue i think there are red flags. i think liz is right about the seasonality of it. but what we're not talking about at all is we're not talking about the partial closure of the third largest port in china. i was on the phone today with some companies, in particular, gxo, which has just a phenomenal insight because of their vast logistics network. i was corrected at one point, which was that i thought there was an easing of the supply channel and there hasn't if anything, that has exacerbated the slowdown in it you see it in malaysia, you're seeing it in vietnam and the market's not appropriately focused on that. so when you look at commodity prices which have come down. they rolled over virtually every single one, you tend to think, well, inflation's under control. it's not really. that's driven by speculators and you can tie that to the slowdown in

listen, i would add, though, with our -- talking about cathie wood and the woodstocks, the transparency we've got there don't forget it. you and i grew up in a time when nobody knew anything about what anybody was doing. >> right. >> and now you get every day you know exactly what she's doing. this is a real benefit to that. >> well, i think there is, and she did say, go back and look. we never said the chinese names were -- what we've said because of social engineering seems it's seems, reennearinging taking place in china the valuation associated with these company, damaged. i don't think they're going up anytime soon the problem, said quite recently anytime soon, what may be a 24-hour period? 48 hours >> from wednesday. our own "techcheck." she is shed the chinese names deserved a reset because of the rhetoric coming out of xi's office and tried to get her to say are these names uninvestable she wouldn't go there. >> that's true i didn't see a wholesale shift towards social engineering if anything things it have gotten tougher some things happened last night, which is where wynn is g