this rumor is david einhorn supposedly is covering his short position.t to point something out here. not just a rumor -- two rumors today associated with einhorn. whenever there is a stock moving, seems somehow david einhorn is behind it as if he's the most powerful hedge fund manager around. i would say that's absolutely -- >> david einhorn is not going to tell anybody. his traders aren't going to talk unless they want to get the old boot. how did that rumor came about? >> it came about by somebody making a phone call to one of the rumor services. the rumor service takes it, puts it out and all of a sudden people have another reason to bid the stock up another leg. let me tell you something, if i were a betting man, i'd say maybe david einhorn is actually shorting more stock as it rises because he had such strong conviction about the company and the whole story hasn't played through yet. >> who are these rumor services? >>> let's talk about one of your other favorites, jcpenney announcing yet again another strategy to try to lure in customers. free hair

. >> david einhorn has shorted the stock this is what bothers me, if i'm short lieu liululemon, a havedo is message, i hear iron horn is short lululemon. >> "the wall street journal" talked, the stock getting even horned. some point, he is going to be correct. >> you are one of einhorn's guys, you are not float rumor. um you will be fired. >> it is not about the rumor. this is a market, as tim raimi said today in the "wall street journal," he and i disagree, the market is so shall low, waow. >>> seema mody right now. >> just got the one right here, off-road vehiclemakers poll lair ries and arctic cat giving back most of last weeks gapes spurred on by the recent introduction of the brp subsidiary can am's recreational two-person side by side vehicle. that was one nice sentence. polaris and arctic down substantially, players down 5%. >> you know, this is interesting, a stock which mentioned yesterday, polaris was the stock we mentioned yesterday. mentioned it because it was on a screen, not because i think there is anything inherently wrong with polaris, as stocks get ahead of themselves

david einhorn got into herbal life and nothing happened. do you ever use this information, josh? been involved in activist situations for 15 years, like since alfred kingsly was consolidating steel companies. there's a rhythm to these things. if you're an investor and you want to be involved, understand there's the initial 13 d filing. sometimes that will be accompanied by an explanation of what the manager is trying to accomplish, sometimes not. there will almost always be a stock pop especially in a bad company and a bad stock. that kind of fades. you can have a year, two years of letters back and forth and -- >> it's a process. >> you have to understand there's a rhythm to these things. there's no reason to take your full position the minute the news is announced because they tend to play out over a long time. >> i was going to say, that's a great point quickly. these things do have that initial pop. you have to get somewhere where you have some leverage. yahoo was a much better move than proctor. >> are you saying -- >> dan and yahoo. >> got it. got it. all right. >> let's mo

>> we're announcing that leon, david einhorn and your very own karen finerman will be participating andhen we'll announce others. >> do we have an idea of how much money to expect to generate to charities? >> registration is opening now and finding out over coming months and keep posted. check on the website an announcing it. >> okay. >> you understand the basic, each entrant with an opportunity to identify their preferred charity. ma my case, i haven't picked the stocks but i'm involved with the damen runyan cancer foundation. the proceeds in the class go to the group. >> i got you. thank you so much. thank you for being on the show. great for your insights. bob... oh, hey alex. just picking up some, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hair looks great. didn't realize they did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad we're both running a nice, clean race. no need to get nasty. here's your "honk if you had an affair with t

we'll ask the ceo christine day about her plans to keep the company growing and rumors that david einhornck. >> it's squawktoberfest. ♪ we'll talk to the founder and chairman of the boston beer company, makers of sam adams. the third hour of "squawk box" begins right now. ♪ >> welcome back to "squawk box" here on cnbc, first in business worldwide, i'm joe kernen along with becky quick and andrew ross sorkin, our guest host is tom stemberg, co-founder of staples and also co-founder of the highland consumer fund and of course a romney campaign surrogate. you're not currently pregnant, are you? male surrogates always -- >> how is he supposed to answer that? >> he's not going to try. >> a male surrogate, it's a different kind. so lots of great guests coming up with tom over the next hour including ohio senator rob portman. he's having twins. no. the ceo of athletic apparel retailer lululemon will be on and founder and chairman of the boston beer company the maker of sam adams, jim cook, will be on. he's from cincinnati, too? >> he's from cincinnati. >> first andrew has your morning headlines.

. >> say you or david einhorn or lan dan loeb or steve cohen, do you look through those and say oh, that's>> if it overlaps with one of my longs or shorts my trade des lk fl desk will flag it to me but it could be misleading. >> do you think there should be additional disclosure? >> that came out and the problem is once you put all of your positions on the book everybody can replicate your portfolio so there's the whole issue -- >> what would be the benefit of showing the longs but not the shorts? >> i don't. i don't know why the longs should be shown. i don't think either should be shown. they should be shown to the authorities or sec as needed but not to the public, in that if somebody is paying for that service, in effect you're giving it away for free every quarter. >> let's talk banks. que you've been long some banks. >> and short some banks. we believe in the concept of the he will leveraging credit python if you will and if you think about the three little pigs in the python, the u.s. is the pig at the end of the credit python, europe is the pig in the middle of the python and our f