einhorn's fun was down 9.9% -- fund was down 9.9%.he green light fund lost more than 20% last year. that is your bloomberg business flash, we will head back to the markets desk were julie hyman is looking at some specific stock particular, nike and under armour. julie: both declining for separate reasons. nike was downgraded. part of this has to do with the sports authority, and a company's bankruptcy and subsequent liquidation, essentially removing a big customer for both of these companies. a lot of new entrants are fragment the market in the case of nike, the challenges for mike years ofasting five double-digit growth, so there might be some slowing growth for the company. nike not done as much as under armour more than 600%, the company no expects revenue of $9.3 billion, the earlier forecast had been about $5 billion, so lower their. -- michael kors coming out with its numbers, revenue rising, the company also coming out with or cast that was above forecast, some of it has to do with a tax benefit. nonetheless, others are talking

david einhorn also not doing very well right now.f you look at some -- those are hedge fund guys. if you look at what's going on in private equity, there's third point capital. dan lobe i should say i know both of these gentlemen, both very good guys. what's good about dan, he supports a charter school movement in new york city. so just throw that out there. that's a good thing. but, you know, they do very heavy sector bets. and if you look at private equity, getting crushed as well. steve schwartzman, blackstone also down. these -- all the -- and here's where it gets really interesting for you to the average investor. do you need to put your money with a professional investor? is it worth it? now, for rich people, you pay 20, you pay two and 20. liz: yeah, two and 20. >> 2% up front as a management fee and 20 poster profits. if you're not that rich and you still go to a broker, you still have to -- most of them charge. liz: 1%, 1.5%. >> is it easier just in this market to buy indexes? and i'm telling you that i have a lot of friends

markets say c i china are going to help general motors, which is one of the pillars of the david einhornhat we heard at the ira zone? >> well, it is ford, and chrysler, and chrysler just starting with the jeep, but you have the domestic automakers in china coming in at the low end of the suv market there. and so now you are kind of trapped h into the higher end of the suv market. you are growing, but they are going if be seeing more and more competition from the companies like great wall who at the current pace, they are on the lower end, but looking at the margins from the gms and the mercedes, and they are saying, i want those margins. so eventually the question is do they start to come up to that market in china? >> and the fact is that they have stolen so much demand from the financing, and subprime financing is a bubble, and so you have stolen the demand now while financing is cheap, and you are seeing it slow. >> i love the o have you here o the set, phil lebeau. >>> and now, marc faber predicted a pullback in the markets, and where does he stand now? does he see opportunities? he

with that, let me turn it over to bob einhorn.thank you. >> susan, thank you very much and welcome to all of you. during the congressional debate on the joint comprehensive plan of action, iran nuclear deal last summer, a key issue in that debate was whether the deal supporters of the deal argued that by removing the risks of the nuclear armed iran, the deal would reduce incentives for countries in the region to acquire nuclear weapons. opponents, however, claim that the deal would increase those incentives because it would legitimize iran's enrichment program, it would allow iran to ramp up its material production capabilities when key restrictions expire after ten and 15 years and it would boost iran's economy, sanctions relief would boost iran's economy and give iran the resources to devote to a nuclear weapons program. richard nephew and i strongly richard nephew and i strongly believe that the jcpoa will believe that the jcpoa will reduce prospects for reduce prospects for proliferation in the middle proliferation in the midd

but the thing is gold ran up to 2,000 before we got full on qe one two and three and then einhorn and others got in saying we're going to get -- and as we got to qe one two and three the rest of the world followed it came back to 1200 so it is way ahead of the consensus thinking. but if the fed can't get out if they are feckless and in effective and can't get out then they lose control. >> -- in effective. >> right and then they lose control and gold does go up. so i don't think i'm going to have another chance. >> you will have plenty of chances. >> below 1200? >> doubt that. >> that's what i want. >> 1275, come on. >> i can't chase it. when i want -- i was asking can we -- >> see this is ego. this is psychological. >> i was only doing it to like play with the maple leaves anyway. you know, put a light there and visit shining on my face. and have like a video. and the sound of it. you have felt it before, haven't you? >> what? >> gold. you have felt coins and bouillon. there is a reason for 4,000 years people have treasured it. it is treasure. >> a friend and i had bought some gold.