about some of the consequences that you perceive one of the speakers at your latest conference david einhorn a hedge fund manager he compared the fed's zero interest rate policy along with quantitative easing as a diet of jelly donuts that people are getting sick on and basically. the combination of this monetary sugar high along with reckless fiscal policy that this is actually what investors are perceiving as presenting a huge tail risk and that this could actually be depressing stock values in the long run what do you think about their analysis risk yes tail risk is one of these fancy terms for for over or over hanging anxiety or apprehension about something that may not happen but if it does happen it will be deeply upsetting and it's my view that. that in this country in america there is this my asthma of anxiety of doubt of apprehension concerning our financial not canonical farrah's because of the sheer among other things because of the sheer unpredictability of of governmental action if we don't know and we do not know what they will do next we can't really plan for the future. if wi

have too many activists involved and the last couple of years, david einhorn in the last filing brought three million shares at some point i suspect the market cap is less than 7 billion to have 1.75 bill ron in cash and 25% of the market cap in cash and you will see activists involved. >> rim goes below 10 and cvi, there is no buyers. if he wants it, he will have to pay above 30 or 35 or 36. >> 64% of the share's tender goes to 30. >> coming up next, profiting from the commodity we can't live without. the trade on water. more fast, straight ahead. [ male announcer ] this is genco services -- mcallen, texas. in here, heavy rental equipment in the middle of nowhere, is always headed somewhere. to give it a sense of direction, at&t created a mobile asset solution to protect and track everything. so every piece of equipment knows where it is, how it's doing or where it goes next. ♪ this is the bell on the cat. [ male announcer ] it's a network of possibilities -- helping you do what you do... even better. ♪ two of the most important are energy security and economic growth. north america ac

david einhorn posted a 6.7% gain through the first quarter which is half the s&p. and john paulson reported that his paulson in--- i guess this after fees. but this is not -- >> i'm going to play contrarian. i'm not making this argument, but for purposes of the conversation, there's an argument me that a hedge if you said is actually supposed to be hedged so that they should not by the the market on the up side and they should not -- will and they shouldn't lose more money on the down side. the problem is they're not hedge funds anymore. >> that's an antiquated term for -- sg >> i completely agree with you, but i was just -- >> when you completely agree, i don't know whether you want to because you always decide to take the other side. i'd like to have support, but for the show, maybe it's -- >> maybe another time. >> and the wives of bernie madoff, a movie of the week -- no, i'm so he, the wives of bernie madoff's sons could face trustee claims in the ponzi case. a bankruptcy judge ruled trustee irving khar may pursue about $43 million of claims against andrew mad