. >> david teper telling me yesterday that the trade war is the single biggest unenknown, the tryingiest thing to figure out as as an investor whether you have the ackman of a david teper or mom and pop investor watching right now. >> i think it's kind of interesting because we saw the schurm confidence print above 100 pretty high print and it doesn't seem consumers are bothered by $50 billion in tariffs we have. i think it's important i don't think the president understands this it's not like we are receiving money for the tariffs. it's really in the form of higher prices for our consumers. all of a sudden they slap on $200 billion of tariffs and they get this retaliations. this is where the consumer starts to get hits here. as we head into the holiday season, these are the things that you have to start to consider when we think about foreign guidance, we think about how companies are going to guide and how confident consumers are. to me, i think it does have the potential to ratchet up and really trip up markets here in the next couple -- >> this you news also did happen to come we sho

micron is one of hedge fund manager david teper's top holdings and earlier today on the halftime reportlked about why he is still in the trade. >> we obviously think so because it's one of the stocks we haven't reduced as much. even though we reduced the portfolio it's a bigger part of the equity portfolio than before aflt we did reduce it somewhat but just less. so it's a big are part of the portfolio. >> so, from the horse's mouth david teper a bull of micron still bullish despite the downside price action. we see soo if the kmip stocks and differ owe divergence hold and whether they can be bullish or provide a bingling in the bullish trade for the market back to you guys. >> thanks, dom >>> well the next guest says stick with the chip winner let's go off the charts with todd gordon. >> yes the semis have be o sbn the focus of all -- the trading commune and just before we jump into the charts let me put something out there to just show how bifurcated the semis are if you look at the smh since november of 2017 we are at the same level so winners and losers. first two we start out with

appear loosa management david teper called it a tricky market and cited the trade war with china in particular. >> if we do the tariff onhina that makes it tough on the market here just going forward. i don't know if that's an inning question or not an innines on but it gets to valuations and where we should be if we put ariffs i'm not saying we shouldn't or should t just factualt's the case. i don't know how that's in the market. the other thing if we don't have ro then webly have you know the question is how fast will the economy go? beuse china is stimulating and they are because they think the tariffs areth coming. might have a factor of pushing us into higher interest rates. it's getting tricky at this point in time. >> teper says stocks could drop 5 to 20%f trade tensions between the two -- the world's two largest economies increase. >>> in the meantime oil prices fell amid talkhat continued trade disputes could contendant demand as supply tightens. the international energy agency warned that global economic risks mount especially in keyng emer economies. and at today's settlement the pr

of are how the stock reacted in the after hours i still think when you look at this, ever since david teperhe stock is it up four or $5 from that moment. >> last week. >> a week or so ago. the pullback we see now, i don't know, i'm not overly worried when i look at the buyback, the share buyback will be huge talking about $10 billion. if that's announced or implemented that's something i think pops the stock high sfwleer karen? >> i'm a little afraid of -- i don't have anything in the space. i'm a little afraid of when a cyclical industry turns. we talked about gm earlier that's turned in terms of the sentiment. it doesn't matter for the stock. it just gets cheaper and cheaper. it's frustrating i'm not inclined to jump in and maybe do the same thing again. >> if you think that semis at a cyclical sector turned what does that say for the market and the economy? >> it could be more isolated if they grew faster if they grew too fast for themself and not everyone else grou too fast. but they could also be very correlated and that could -- that would be bad. >> right. >> speaking of chips intel

with scott woman ner thursday, not tomorrow a noon exclusive interview with billionaire investor david teperple of minutes. my name is chris hughes and i am a certified arborist for pg&e. i oversee the patrolling of trees near power lines and roots near pipes and underground infrastructure. at pg&e wherever we work, we work hard to protect the environment. getting the job done safely so we can keep the lights on for everybody. because i live here i have a deeper connection to the community. and i want to see the community grow and thrive. every year we work with cities and schools to plant trees in our communities. the environment is there for my kids and future generations. together, we're building a better california. >>> millennials typically get a bad rap t eyrebuth a prized by advertisers. we break down new data, coming up next. through the airport or risk having your clubs lost or damaged by the airlines. sending your own clubs ahead with shipsticks.com makes it fast & easy to get to your golf destination. with just a few clicks or a phone call we'll pick up and deliver your clubs on-t