hear from netflix tomorrow, microsoft, google, apple and facebook on deck next week joining us now, dan nilesood to see you thanks for joining us. >> my pleasure, wilfred. >> firstly, dan, big picture questions before we get on to those specific earnings points what about the headline market levels, are you still expecting some kind of correction? and what do we mean by correction, 10%, 20% >> yeah, so i think i've been pretty consistent with my thoughts, which is you've got a lot of stimulus to keep driving the market to new highs but the at some point you're going to have to have the fed warn i think come the summer that they're going to need to taper and then you get a 10% to 20% type of correction i mean last week to some degree worried me because despite the market hitting new highs, the s&p up four weeks in a row now, the first time since august, you actually had some of the higher momentum sectors of the market selling off. the spac index was off 3%. a lot of the electric vehicle names were down 10% to 20% and the semiconductor index, that was down a percent last week so you could real

acquisition but doentd if you heard dan niles on the -- we are abuzz over the chip shortage but we are seeing building inventories in the supplies for chip phones that -- chips that go into phones i tried to say and he is shorting those names >> yeah, and listened, follow dan niles. he has been doing that cyclical trade in chips for like 25 years. and probably doing it really really well. i think it's important to kind of think about if the narrative in front of su supply constraint start thinking about what comes next, that might be that build, and especially if we don't see the 5g supercycle that a lot of people were expecting, if a lot of the chip demand is in industrial and that kind of wanes the next couple months as it gets filled. that makes sense one last point look at the nasdaq composite it's the only major u.s. index that has not made a new high since, i don't know, february or something like that. we know the russell had made new highs. and then it basically was unable to do so over the last month or so the s&p and the dow seem to be narrowly making new highs every day the

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. >> guys, brings us to our first guest to talk about tesla, earnings, all the rest dan niles.reat to see you again love your take. >> good to see you, too, carl. >> all right so i think the lead here, if it's tesla, may be that you think valuation's a little too high to get interested >> yeah. that's really all it is. elon musk is arguably the thomas edison of our generation forced the car industry to get into electric vehicles, kicking and screaming, but if you look at the valuation of the company, $49 billion in revenues. and trading at about $680 billion in market cap. look at volkswagen, about $250 billion in revenues and trading at about $130 billion in market cap. tesla's 15 times ebitda sales. volkswagen, 14.5 full disclosure short the stock. shorted in print yesterday we love ev weren't of our top five picks for this year coming into the year is magna international. traded at 13 pe. not an e.d. to sales but a pe ratio. that stock's up close to 40% this year. and relationship, magna does, and waymo, and korea, ev manufacturers. we love ev. we just want to participate in

of its water it fears a rapid filling of the reservoir would severely restrict the flow of the nile so dan wants if the o.p.'s to share data of the downs operation to avoid flooding protect its own dams if the o.p.'s says the hydroelectric power produces is important to me the energy needs of millions of ethiopians lacks stable electricity supplies when fully operational that down will become the largest hydroelectric plant in africa. let's bring in our guests in nairobi william davison a senior if you appear analyst at international crisis group in london and that is president of the world association for sustainable development in oslo guy term gabrielle is a political analyst focusing on the horn of africa what into the program well this is not the 1st time that egypt has warned of repercussions if there is no political progress on the issue of the day are they serious this time show that if you can take into consideration the latest statement by president of the c.c. . it's not clear exactly what is new about be egyptian positioning certainly this alarming rhetoric rare but of course t

contested make it to em on the blue nile that's after 3 days of meetings between the nations failed to reach an agreement have a morgan is in costume with more. so danis saying that would if you're trying to do is try to impose a reality on the 3 countries especially sudan and egypt it says that the rounds of talks have produced no breakthrough they've been holding talks for 3 days effectively it was said to end on monday but resumed on tuesday morning as the 3 sides closed meetings to try to iron out their differences the main difference over this whole round of talks that was taking place in is that sudan and egypt wants the mediation team to expand to include the united states the u.n. and the european union that is something if you appeal has strongly rejected and said that the the mediator of the talks between the 3 sides should remain the african union alone because they say that they believe african solutions to african problems now the 3 sides have failed to reach a deal despite those few talks a few days of talks so it looks like they've tried as much as they can but now sudan is saying that what ethiope if your peers doing is violating int