it is chatwood investments, jared levy, against our very own charlie gasparino. [whistle] melissa: there you go, charlie. >> did that in my ear? melissa: yes he wanted to do that, get your attention ahead of time to insure it's a fair fight. charlie gasparino, you're one that raised issue. isn't that convenient? >> is it gambling. melissa: from 153 to 320. boom announced next day they're underwriting convert deal. >> one -- melissa: one four. >> hadth so obvious it is not worth debating. anybody says it is not obvious don't know how wall street works. bottom line, somewhere 10 years after we had a major settlement in terms of wall street allegedly cleaning up its sellside reserve, separating, creating alleged or innamous chinese wall, making it more sturdy it is just as broken. this stuff goes on every day. melissa: jared, just called you crazy and don't know how wall street works. >> one other thing. they just like, you know, say tesla is good company. melissa: no, 153 to 320. that's -- >> they went insane. melissa: jared, are you crazy? >> maybe a little bit. i

joining me from dallas is jared levy, author and partner of the chat wood fund.before we talk about janet yellen i want to get your read on what is happening right now. what is your read on the state of the economy right now. >> i would say the best way to sum it up, the way the markets are behaving that they are, the viewers tonight want to hear that. it depends on your point of view, if you're comparing current economic climate to 2008, 2009, 2010, we're doing good. we're staying stable. if you compare it to other recoveries, even i in 2002, 2003, 2004, it's slightly anemic. last quarter we saw 11% to 12% year to year growth. from that, tony, we're seeing a lot of cuts. we're seeing job cuts within the industry, and margins are now at their peak which means companies are making as much as they can. they've squeezed all the productivity they can out of their workers. >> so jared, i have a two-party question for you. so what do you think we will hear from janet yellen from her congressional testimony, and is that different from what you think she should say? >> i

jared levi joins us from dallas. he is a strategy and writer, we appreciate his time in evening.o what are the key reasons behind this drop? >> psychological resets like to are actually fairly common, and it may be painful to tolerate these drops, but it's actually quite normal, and when you look at it, here is what is happening, the marketing paints a trajectory. a lot of the professionals like myself we use models to figure out where prices are going to be at a certain time. our models will change, and that causes us to begin selling, and then retail people begin selling, and that's what creates this setbacks. >> i noticed you said psychological. >> that's right. we -- we tend to forget that the markets are actually a little bit more subjective than objective. prices are kind of not drefrt up in our minds, but based loosely upon fact, but they really are just prices and opinions at the end of the day. >> so how concerned should the average individual be? a lot of middle class people and their 4 01k's are attached to the stock market. but a lot of people are not attached to the

ttday's signature wall street throwdown features charlie gasparino and chatwood fund jared levy.reat, fighting over whether something smells fishy in the tesla bond deal underwritten by morgan stanley. you might want to get some popcorn for that one. of course there is today's "money talker", the latest round in e-commerce with ebay. -- icahn versus ebay. even when they say it's not it is always about money. melissa: new fed chair janet yellen just wrapping up her testimony best senate banking committee. let's check in with scott shellady on the floor of the cme. one thing in particular caught my attention. she said the economic data, particularly consumer spending had

putting chatwood friends, jared levy against jonathan hoenig from capitalist pig. also a fox news contributor. jonathan, let me start with you. who is the biggest loser here. >> bottom line it is the american people it is two kind of mediocre companies coming together. they will have 30 million customers after the deal is done. reality they will be going away anyway. 10 years pro now these guys will be pipeline suppliers. it is consumer now will be probably moving or have to move to ivers or dish or one of those other carriers. again, i think the deal is sort of, it is middle confident road for me but i think -- melissa: keep going to apple tv and to netflix and all the places they're going anyway, jonathan? >> that is the whole point. this is a great deal, melissa. trade, any trade is productive. it will make these companies which are troubled and whole industry is under a lot of competition. it will make them more efficient, more productive, more innovative. certainly benefits companies and shareholders and benefits consumers as well. to your point, this is treme