. >> it was roughly in 1987 is when i started to see jeff lundgren and his people move into the farm on u.s. route 6. >> jeffrey lundgren has more than 20 disciples. they gather daily at lundgren's farmhouse, taking in every word. ron luff and his wife suzie are captivated. it becomes clear to local authorities, this small religious group is quickly morphing into a cult. >> so, where does this come in? >> my faith was very much everything. i'm looking for a lot of answers to questions. i decide that i want to go to kirtland temple and just visit the place. i've never been there. pray, meditate, and see if i can -- god will touch me in any way or let me know anything that he wants in my life. what direction in my life. so i'd never heard of jeff lundgren before that day. and that is where we first met. we spent about six hours after that tour talking to him, his wife and some of the things going on in the church and so forth. and then we met some of the other people that were there. what there seemed to be is a collection of people who all seemed to have the answers to their questions.

we had terry lundgren on ""squawk box"" this morning, and we were speaking with him about the conversations that he has had with activists. he said that he has met directly with jefft know if he knew about this new position from david einhorn or not or plans to have any conversations with him, but it's just an interesting wrinkle to consider. i should also note in this letter, we all know by now and we're reporting on that's hedge fund managers over the last year that times have been tough, which david einhorn says straight up in the letter here. >> it was about 20.2% last we're. >> yeah. >> that's not a good year. >> here's what he said. we lost money every quarter. we had six positions at each costing us more than 1%. we were short the top two performing stocks in the s&p. that being netflix and amazon. that's how the story was told for last we're. at least for david einhorn. >> scott, thank you very much. macy's has a market cap of $12 billion. squawk alley is up next. ritrade trader offices. steve, other than making me move stuff, what are you working on? let me show you. okay. our thinkorswim trading platform aggregates all the options data you need in one pl

if i was terry lundgren, running macy's or bloomingdale's, i would say, are you kidding me? i have activists knocking on my doors, where are your margins? but jeffezos says the investors do not understand. i spoke to jeff bezos yesterday and he said there could have been more comfort on earnings calls. that is not what investors are there four. david: barry diller said this would be the most successful company in history and jeff bezos would go to number one as far as the richest man in the world. what do you think? matt: i do not think that is that far off the mark because his company is disrupting. it is creating this endless i'll of limitless choices, and that is such a powerful commercial strategy, which is what you are talking about right here. he is not letting up. he is pursuing this. stephanie: when you describe it that way, if i close my eyes, that is what walmart was it walmart first came onto the scene, it was, we have never seen this before and it is incredible. if you invested in walmart from the beginning, happy days. you are shopping at neiman marcus. matt: i baked to differ. in that comparison -- i beg to differ. in a comparison,