here to discuss, david bahnsen of the bahnsen group, also author of the new book, "full-time work ande show. >> good to be with you. charles: just in time. david einhorn, he mix headlines. him and ackman, they seem to make headlines. he's saying that the market is fundamentally broken by what's happened in passive investing. >> i think that there's a difference between distortions and the ability to exaggerate a boom and exaggerate a bust than broken. okay? saying it's worse than marxism, i think you're confusing categories. i'm very critical about the passive investing craze in the sense that it wilds a self-fulfilling prophesy up and down. and right now having seven companies hold the whole index up, i'm just telling you, it's not going to end well. and yet i don't think that refers to social fabric of society. i don't think it has to do with the future of the republic. marxism was a war on an entire eyed system. passive investing, i think, will prove to be a fad that went too high and will find it right place. charles: how do you unwind something? i think it's larger than -- >> oh,

the month it was down eight tent ever-present and we were expecting down one tent ever-present, david bahnsenare less ever about the retail number, consumer, consumer confidence we already know something that everybody ought to know permanently about the american consumer the only time they stop spending is when they run out of money and brought out of credit that's it and you saw the lumpiness of the numbers, 5.6 in december, down a little in january and when you're spending less at gas stations and convenience stores that makes the numbers lumpy, there is so much noise month over month at the data and we look at trailing quarterly numbers and the american consumer loves to spend is ingrained in the culture all i care about for economic growth is production. maria: i wonder if the month over month number of down eight tent of 8% is one reason that the market is rallying and perhaps until the federal reserve has the move. >> the one piece of economic data lately that says they have room, the interesting thing i would like to see whether or not the pullback in retail spending in january led to

david bahnsen's with me this morning. is a money guy, but he likes to get into politics as well. i want to get your take on the republicans being in disaa ray. >> it is disaa ray. it starts with the leadership problem. it starts with the9 fact that they lost a bunch of elections because they mom nateed terrible candidates, so they don't have is a clear majority by the way, the people who who voted against this impeachment of mayorkas, tom mcif clip tock is one of the most conservative members, mike gallagher is too in wisconsin. this is a ridiculous approach. and so they're just all over the map. and then you see the other side, this response from kjp about a biden's health, it doesn't match with what the people are thinking. it's obvious there's an issue. so on both sides you see realties function, in my opinion. stuart: okay. we'll talk about the markets. put up the premarket stuff, please. i see some green. dow 75, nasdaq up close to 100. i want the talk to you about the magnificent 7 -- [laughter] you think it's going

want to bring in david bahnsen. david, 850 seems like, eh, you sure you're a believer?a company with an incredibly wide disperse of price targets. but much of this is the fact that analysts have actually had a hard time keeping up with the share price simply because there's names out there with buy ratings on them that are below the current price. and so nvidia's a name that has all the attention paid, earnings are up there now i think with job numbers and cpi data. and you're right, we expect some fire works today, but the market at least on nvidia has been soft heading into earnings which implies perhaps maybe people are prepositioning based on that runup we saw in recent months. charles: so the audience knows, they're looking for revenue of $24 billion, and earnings per share, $4.59. what are you looking for? >> you know, i think from a consensus. standpoint, we're in a similar position. but we actually believe that this company will beat earnings again. this is going to be the fourth straight quarter that that they've done it. they're putting out 200% year-over-year

david bahnsen with us this morning and, of course, he brings with him a couple of dove tend picks. with cisco. >> i love the fact that cisco was down a little bit last week. today guided lower for this year, and you go, why would you love that? well, because we had a really good earnings season. a lot of companies guiding higher, stock prices are up. you want to have something weaker, stuart, you can buy at lower prices. cisco, you now have a 3.5% dividend yield. they grew it again last week, and they're converting to more of a software recurring subscription business. it's great for the future of cisco's stock. it's going to take a while, but we love where cisco is. stuart: 3.5%, david, i know it's growing year by year, butt -- but it doesn't turn me on. you used to bring us stocks with a dividend payment of 5, even 6%. >> stuart it's so hard, because i try to explain this over and over to you, i know you love microsoft with their 0.003% dividend, but cisco's dividend or what we pay for the stock is about 10%. that's the way we want dividend growers to think about this. the dividen