for more about the competition and his own investment choices, we are joined by david einhorn of greenlightal. it is game applying charity. why did you do it this way? you are closely involved with the foundation. what do you expect? david: we thought it would be fun to do in conjunction with the annual investor conference that has been going on for 11 years. anyone who wants to participate and donate $10,000, pick a long and short and see how it does over the next six months. whoever wins, gets to choose which robinhood supported organization gets a chunk of the money. >> did you participate? david: 100%. >> what are they? david: the shorts people are allowed to keep confidential. i will pick peloton, which i pitched yesterday at the conference. >> from what i understand, you came dressed in full gear to make this pitch to the audience. what is it about peloton you like? you said it is undervalued. what's the catalyst? m&a or something else? >> there's a lot to like with peloton. they have a large customer base that pays $44 a month and is extremely engaged. they have very low attrition. m

. >> what about the price of stocks david einhorn writing last week that the markets is as expensive as he can ever remember it, certainly as long as he's been at green light is that fair >> no that's not fair. 1999 stocks were much more expensive, fundamentals were much worse and that was -- today is not then. >> but is today a problem nonetheless? >> today things are expensive. today you need to be looking more for your best risk rewards and can't close your eyes and buy any stock at this point in time but the valuation isn't -- prohibitive is not the right word but it's not as if we are back in 1999 and setting up for a fall in valuation. valuation is high because you have really good companies, good growth companies and good balance sheets and a lot of optimism it's not so high where you can't make money going forward. >> but that's -- how much money you can make going forward seems to be a question david kosten was asking that question earlier this week, i'm sure you saw that, over at apollo also asking similar things when you have stocks this expensive expect muted returns in t

david einhorn had very interesting letter saying it's at nosebleed levels and warren buffett sharing at bank of america and other names is a signal to david iron einhorn yoe got to be careful and stocks show it's time to pair the equity positions and exposure. what do you think about that? >> sympathy that valuations are stretched and so for every dollar you put in, you're getting twice ongoing earning ands fairway to put it is the u.s. stocks will have to deliver twice the earnings growth as those americaning frontier economies just to keep up. those economies are benefiting for the rate cutting cycle and emerging frontier markets aren't one size fits all. it's the share policy and either by pegging the currency and u.s. dollar or by half of emerging market debt is issued in our country and mainly the u.s. dollar. we have the nuclear power plants. liz: there's a headline and the transformer 25 is going to cost to reorder the main power transformer for three mile island's nuclear reactor, which will open -- reopen in pennsylvania will cost about $100 million this. is big chunks of cha

i know, david einhorn made a passionate plea it was undervalued. turn dramatically accelerate unless the company also launches beautiful hardware that inspires an upgrade cycle, refreshes that "it" factor. hiking fees without hardware hit, it's like playing jenga it eventually trumbles. >> they have some kind of cushion here >> yeah. andrew, on the other hand, we saw peloton's lows in august under 3 bucks a share. it's heading hire. the reason is they finally dug its way out from disastrous decisions. first spending too much on manufacturing and delivery and boxed the tread design and brought in a ceo who seemed to think it was a content company with all of that out of the way, peloton can develop the right hardware road map and focus on delighting existing customers as cfo explained last month peloton's current financial structure doesn't rely on hopes of a hit product for things to work in the near term. as long as members don't flee in droe droves, there's time to figure things out. they launched and connected fitness. lululemon dropped a produc

. >>> shares of peloton surging in late trade yesterday after comments from david einhorn that he thinksalued shares are up nearly 1%. >>> stocks trying to claw back yesterday's losses look at the action in the futures. it was a bit mixed the dow hitting the lows of the morning looking to open 60 points lower nasdaq surging up .75% let's bring in matt powers at powers advisory group. matt, good morning >> good morning, frank. >> what's your word of the day >> the word of the day is rebound. it is not just a basketball reference. i know this is not a sports show my celtics started with a strong win. taytum put up a strong stat line that's not why my word of the day is rebound the company i picked has the ability to rebound after a tough year year >> let's talk about tech before your pick. nvidia was under pressure and apple under pressure with the report on the iphones. when you look at tech, it has been a safe haven with bond yields rise. what do you think about the action yesterday and where would you put money to work? >> so, you know, it's what we see is there are less obvious opportu

peloton surged about yesterday, the 8%, 8.7% on reports that green light capital's david einhorn calledficantly under valued. now back in august green light also disclosed that it had bought 6.8 million shares in the exercise bike maker, and shares really popped as a result. they are up over the last three months about 71%. i still have mine. stop beating up on peloton. i'm on it, at least three times a week, four if i'm being good. the housing market still in a slump as existing home sales drop to their lowest level in three decades. with mortgage rates now ticking higher, when will we see a breakout? we ask the original flipper and fixer upper out with the home design book packed with their top trade secrets. the authors of the chronicles join us live, next in studio. we're coming right back. stay tuned. chase knows how to put the hart in your local community. evan! you're helping them with savings, right? (♪) somebody just got their first debit card! ice cream on you? your money is a part of your community, so your bank should be too. like, chase! personalized financial advice from a

. >>> speaking of pal aton, david einhorn will be on delivering alpha. >>> still ahead, shares of our more than 2% on earnings and news about the future of its cable business. details ahead. don't go away. >>> bitcoin off its initial highs but on pace for its best month since march. you see it down about 1%. and the recent rally giving crypto-related stocks a big boost including coinbase, and it's moving lower today foll following weaker than expected quarterly results. another name in the space to watch is microstrategy. the company also announcing it plans to raise $42 billion over the next three years to buy even more bitcoin. that is the -- basically the public equity play on bitcoin maximalism. it has been for a while. >> capital markets, alive and well. >> and comcast, one of the best performers on the s&p this morning on the back of its latest earnings and then making headlines last hour after comments around the company's cable business. david faber joins us again. good to see you on camera this time, david. what, if anything, you have learn since we last spoke and what perspe

other speakers include david einhorn and nelson peltz. code you see on your screen to register. (♪♪) in life, i'm reminded that it's not about the destination. it is truly about the journey. (cheering) (♪♪) (♪♪) (♪♪) (♪♪) (♪♪) >>> tech stocks taking center stage with earning reports this week but one trader is focused more on what could power tech companies in the future. can certain derivative plays provide less volatile ways to econ capitalize on growth. tune in to "power lunch" at 2:00 p.m. eastern time. [narrator] but many do have something in common. we all trust schwab with our wealth. [narrator] thanks to our award-winning service, low costs and transparent advice. every day, over a million multi-millionares trust schwab with more than two trillion dollars of their wealth. ♪♪ ♪♪ ♪♪ ♪♪ ♪♪ ♪♪ at state street, we know everyone's trying to get somewhere. ♪♪ take the next step toward your future, by investing in the s&p 500 with spy. getting there starts here. >>> when we think about the massive demand there is in the data center for ai

i'll be speaking with nelson peltz and we have big investors, david einhorn, as well you can still registerom/deliveringalpha or scan the qr code on the screen. we're back after this. >> it's a huge read for corporate reports for one of the best well-known companies in the market and could the better trade be with some of the smaller rivals and that answer might be found in a mix of technical and fundamental analysis tune into the market navigator segment to find where bigger gains might be found in smaller packages at power lunch, 2 p.m. eastern time yeehaw [narrator] but many do have something in common. we all trust schwab with our wealth. [narrator] thanks to our award-winning service, low costs and transparent advice. every day, over a million multi-millionares trust schwab with more than two trillion dollars of their wealth. >>> welcome back to "squawk on the street." i'm david faber from the active passive summit and it brings a lot of activist investors including starboard's jeff smith, and he has been very active taking significant positions in kenvue and pfizer both of which he pr

other speakers, david einhorn, nelson peltz. >> i'm getting mcconaughey right now. see you affleck and raise you mcconaughey. >> go to cnbc.com/deliveringalpha or scan that qr code. the future of hollywood, the changes in hollywood. and mr. affleck, along with gerry. >> what's your favorite affleck? >> aflac? >> no, that's deion sanders. i like "the accountant." >> you're talking about ben affleck films? "argo." this is like "inside the actors studio"? >> guy's a great actor, director, also behind the scenes as well. ceo. >> yeah. i can't even get anybody. you have affleck. i'll have better than you. >> you can't get anybody? >> anybody you can get, i can get better. i'm going to get an agent, an a.i. agent. >> why does everything have to be a competition with you, every little thing? you can have what you have. >> my father always said, there was someone -- there was always laura was better than me, barbara, david. it's about what happened in fourth grade when i got that "b" from plmrs. durov, and you have had to pay for that. >> all of us have to pay for that. i'm