joe terranova, shannon alongside me let's kick things off with leon cooperman, chairman and ceo of the omega family office. >> nice to see you >> we just welcomed a conversation on stage. you just heard the vice president who is on stage now describe the economy as booming, the stock market as near record high the fed cut interest rates yesterday. >> all makes a lot of sense. >> the administration wants even more what do you -- how do you make sense of it? >> look, japan has had negative interest rates for 3 1/2 years what has it done nothing. europe has negative interest rates. their economy is doing very poorly the vice president cited a bunch of factors, in of which on my list, consumer confidence is up, retail sales strong economy growing at trend, corporate profits are decent corporate america if they were pessimistic, they wouldn't be buying back all the stock they're buying rates are already low. i pity the poor guy or girl that's worked their entire lifetime when they go to their financial planner and ask for advice about retirement. how can they afford to retire? there's no in

>> the exception of the ipo market, there's a quasi bubble, i think the equity market is okay >> coopermanan the ipo market, doesn't see much euphoria out there apollo co-founder had similar comments, saying aside from faang, five of the top tech stocks, the market he believes is fairly valued, said there are ample opportunities for buyouts. they addressed the same idea, scott cooper, whether temperatures are waiting too long to go public. cooper said companies are now used to going public a decade after they were founded. he believes that trend will continue also making tech headlines yesterday, jim chanos revealing a change in grub hub >> seems like softbank took this stay private longer trend to a different level. i wonder if that changes if softbank narrative changes, what we're seeing with wework and uber, et cetera. will companies have to go public sooner again >> you bring up a good point we're starting to see the beginning of having conversations about silicon valley, ex-softbank. this is a trend ex-softbank. i wonder if this is a similar trend, companies staying private for longer

let's listen to lee cooperman again and what he told us yesterday. he looks at the market, he sees, you know, what the biggest issue is facing the stock market and more generally the economy >> the weakness in the economy, in my opinion, is directly attributable to the president's dialogue on tariffs. what we're doing with china i understand makes sense, but threatening mexico, threatening canada, threatening europe makes no sense this has created great uncertainty in the business community. they don't know where to put their supply lines or build plants, so they're cutting back on capex that is the weakness in the economy. >> thecentral issue you guys discussed at the top of the show, an issue that doesn't appear to be going away any time soon. >> okay, so, the dialogue is the problem that lee cooperman has, and it's the problem, the messaging that i've communicated to you that i have through the month of august. if the president is at a point where has exhausted utilizing increasing the tariffs as a negotiating tool -- >> didn't sound like it from

the white house says the he will assume the role of john bolton and that cooperman is a confidant and councilman for more than 30 years. president trump said today that he fired because he strongly disagreed with many of his positions. bolton says he offered his resignation. 2000 people in the bahamas are in emergency shelters following hurricane dorian. officials say that they are running out of room. emergency officials today said that they would open more shelters as needed. the category 5 hurricane this reuters seriously damaged buildings across the bahamas a week ago, the storm killed more than 50 people returns the accusing the united dates of not safe enough to create a zone in northeast syria. turkey has been pressing for the zone to keep the fighters away from the border areas the fighters are considered terrorist if they reiterated the yesterday to use military force buffer if necessary. the number of americans without health insurance jumped by 2 million in 2018, first substantial increase in a decade according to new data released by the census bureau, suggesting that the

i'll send things back over to you guys >> chanos lit it up and so did cooperman talking about elizabethget to that after a short break. not too high from all-time closing highs on the s&p for that you'd need about 7 more points "squawk alley" back in three minutes. - at southern new hampshire university, we believe in education built for all people. - [woman] snhu was the best experience of my life. - [man] without snhu, i wouldn't be the leader i am today. - [woman] i graduated high school 19 years ago. i still finished. - [man] in the military, you feel that sense of accomplishment. that's what snhu is. - you will march from this arena and say to the world.. i did it. - [woman] you did it. i love you. - [graduate] i love you too. >>> welcome back to "squawk alley. airbnb announcing it will go public, but next year in 2020. diedre bosa has more on this from san francisco >> hey, morgan it's not unexpected. we've been talking about airbnb being a high-profile ipo of next year the company coming out saying it is indeed intending on going public next year the company is more than ten year

big day delivering alpha visited with several big investors including the legend leon cooperman. he said the market is in a fair zone of value. something he's really been saying for the last couple of years. and then he offered up this zinger on what would happen if elizabeth warren became president. >> right now the market is assuming donald trump is re-elected if it looks like elizabeth warren is a credible -- or bernie sanders is a credible opponent to trump, the market will not be higher, it will be lower. >> by how much >> well, i can tell you she'd be a bear market and bear markets generally go down for a year and they go down 25%. >> so it would be that severe. >> i would say that basically her policies are counterproductive. they're negative for capitalism. >> cooperman quipped on the stage during a conversation i had with him and jim chanos that the market wouldn't open if elizabeth warren was elected president. yes, i caught up with jim chanos as well who revealed a couple of new shorts the first, the kidney dialysis company davita here's why >> this is a company that's

cooperman calling warren's policies counter productive and negative for capitalism.ratic candidate mary an williamson floating a mandatory year of service to combat climate change. the service would be to fix the climate and for the repair of our nation. former texas ref beto o'rourke instagraming his car trouble today. o'rourke becoming known for his streaming personal adventures including trips to the dentist and barber. not allowing washington d.c. to have two senators is racist. that's according to one activist. we debate both sides next. memory support brand. you can find it in the vitamin aisle in stores everywhere. prevagen. healthier brain. better life. the in-laws have moved in with us. and our adult children are here. so we save by using tide. which means we use less. three generations of clothes cleaned in one wash. anybody seen my pants? #1 stain and odor fighter, #1 trusted. it's got to be tide. on table ten. ♪ he'd be proud of us. a family business should stay in the family. see how lincoln's insurance solutions can help protect your family, your busine

hedge fund manager leon cooperman of omega advisors claimed the bear market dropping 25% would result if elizabeth warren becomes president calling the policies counterproductive and negative. spiritualist and democratic candidate marianne williamson floating mandatory year of service to combat climate change for everyone 18-26 years old, the service would be to fix the climate and, quote, the repair of our nation. beto o'rourke instagraming his car trouble, under his red minivan to free attire that have gotten stuck. o'rourke known for streaming his personal adventures including trips to the dentist and the barber. not allowing washington dc to have two senators is racist according to one activist, we debate both sides next. marie could only imagine enjoying freshly squeezed orange juice. now no fruit is forbidden. nexium 24hr stops acid before it starts for all-day, all-night protection. can you imagine 24 hours without heartburn? "have you lost weight?" for all-day, all-night protection. of course i have- ever since i started renting from national. because national lets me lose the

but how much concern like that from cooperman are you getting from your clients?a client meeting and it was the number one question, what was your outlook for 2020 it's early days. to put context in it, in the 2008 cycle around this time fred thompson, rudy giuliani were polling ahead. in 2012, wick perry was pulling ahead at this time so it is very early days and importantly we shouldn't extrapolate so much in terms of polling in iowa remember, senator ted cruz won the iowa caucuses in 2016. mike huckabee won in 2008. rick santorum won in 2012. it's notable we should certainly take it as new information but it's super early and too early to extrapolate policy or market implication. >> news to hit from the u.n. general assembly president trump was just asked sort of related topic about the chinese delegation's canceled trip to u.s. farms an deferred to secretary mnuchin listen to this >> that was actually at our request they did delayed that. we didn't want there to be confusion. they started buying agriculture. they're going to reschedule that in a different time

invester lee cooperman reiterated that concern. >> there is a shift to the left in this country, they won't open the stock market if elizabeth warren is the next president >> so tons more investors, economists to go for the rest of the afternoon here, so i'm sure we'll hear a lot more about everyone's takes on the economy. back over to you >> leslie, what has the, i guess, general motor sentiment been like at the conference given the fact you have so many high profile names there are there certain bigger, key broad themes that are emerging here >> a lot of people are talking about public versus private markets, that's the theme that's spanned across the largest panel, it's been in the tech panel, been in the conversation with the sec chairman, it's been a big theme especially in light of what we're seeing with we work and people are trying to understand if there's a disconnect between the public and private markets and what that means for your average investor out there p the economy has been a big theme, the fed a big theme and people are divided on the aisle in terms of what to do a

. >> yeah, and you know cooperman said this to scott and the gang. he talk ed about how the fed didn't need to cut rates so let's flip it. instead of a do no harm strategy, is there a chance the fed harms the economy maybe in way john was talking about, which is encouraging people perhaps the borrow more than they should be >> sure, a b possibility and the idea that when money is really cheap, it covers up a lot of sins, that's been playing out in the markets for a while keeps some companies around a bit longer than perhaps they should be. so by making that borrowing window wide open, the fed can do that against that though, the repo market has been in a bit of disarray and that seems to have gotten a a fed concerned but yields are low companies are able to access the credit markets well. it's possible the fed causes the economy to maybe yoef heat a little bit, but hey, dprout is not that amazing pretty good at low, too,s but not seeming to blow the top off. i think we're a ways away from having a real issue. >> i think the fed said yesterday that sp

he said he was short a kidney dialysis company leon cooperman says he is long energy and and another bullish on uber on soviet bank disney is his largest holding direct to consumer stream. >> leslie thank you. leslie picker at the conference all day there in new york city which pick would you go with or go against grasso. >> i agree with chen ohs and grub hub the competition is way too tight for them and there's -- becoming such a commodity advertised business process. they were the darling and now they are thrown out. i don't know how much lower it can go but it seems everyone is lining up to be negative on grub hub. >> you have amazon delivering food and uber eats and both are linked to lose money on everything they sell. >> i'm not sure anybody perfected the business model but the valuation is what you can go after in the environment where the competition is coming from all sides good for jim this is a stock at $160 stock traded $140 traded in the mid-60s. the question is how far you push the short. at the valuation there is something left. >> it's fascinating that we have -- we h

last week at delivering alpha, leon cooperman weighed in on the race, expressing concerns about warren sees as a leftward tilt in this country. take a listen. >> there is unquestionably a shift to the left in this country. they won't open the stock market if elizabeth warren is the next president, okay. and i'm not -- you know, i take the quote of winston churchill, i'm committed to capitalism and all its flaws. you don't make poor people rich by making rich people poor, he also said the main vice of capitalism is the uneven distribution of prosperity the main vice of socialism is the equal distribution of misery okay the democratic party seems to be leaning towards leftist policies, which i think is very harmful for the economy. >> he made big headlines upon that speech there. >> very tough. because, you know elizabeth warren at one point was a republican and was very identified with the issues, things that reagan said, so i don't want to decide that it is over for capitalism with her i think she is strident. but i think there are people in the house and the senate that would be pushb

man calledery famous leon cooperman said this. it will you believe shut itself down voluntarily? caller: i think eventually they will. don't you? these are communists coming in. this is a new system. host: let's go to dorothy calling from florida. she supports the inquiry. caller: good morning. he hasinly do because gotten away with so many things. i have to quit watching c-span for a long time. hear people talk about how wonderful he is, i'm 78 years old, he is the worst president ever. because he keeps getting caught and they keep covering up his misdeeds, these people that support him, who are these people? do they have no moral compass anymore? is there no right or wrong, especially the bible thumper's that call in? he goes against everything the bible says. he's been married three times. he was still unfaithful to his wives. who are these people who think he is so wonderful? i can't understand it. they have lost their moral compass. host: alvin is calling from delaware. good morning. caller: good morning. i do oppose the inquiry. it seems like from the moment donald trump an

i'm not sure if lee cooperman said the market doesn't open the day after. swro he was just kidding i would think the stock market would go up. >> what is interesting to me, we don't have the traditional chamber candidate. trump is not a free market capitalist in the sense of a mitt romney traditional republican we have seen before >> he does like the private sector he's a far cry from elizabeth warren zwroo it help or hurt trump in 2020 and does pelosi take it to a vote going forward >> we can't rule out what a first-term impeachment looks like all the bad stuff is happening to the president in the first term i think people's minds are made up on this president unless we have some dramatic bombshell >> you are leaving >> i got to get on an airplane >> i'm taking a 9:00 flight. i'm going to have breakfast and then go. >> you should go to the airport and have breakfast >> sleep is more important than exercise >> that's what i told the producers and they didn't buy it >> dr. scott and then dr. oz start branding now >> you are mentally tough even under no sleep