another good guy is john paulson. i just bought doral from john paulson. think he made a great deal on buying the debt. he's a great guy also. we bought doral country club. i'm here now trying to find out how i'm going to spend lots of millions of dollars of making this the best place in the country. it's 800 acres right smack in the middle of miami. >> right across from the federal reserve of miami. >> you're starting with an absolutely fantastic golf course. >> absolutely. >> i figure could you do a -- you know, these guys it was made -- i don't know whether it use to be the blue monster but these guys handle monsters like anything. you need to lengthen anything? >> gill, who is doing the olympic course in brazil, he was just named over all other architects, i hired him just prior to him getting that assignment. we're going to make it the blue monster again. it's still a very hard course but the word monster is a little different. they're hitting the ball 100 yards further than they used to. right after the next cadillac tournament, a great group of peop

been buying up gold and as you see filing shows that he's not the only one hedge fund manager john paulson is also the biggest has the biggest stake it as gold trust which is the largest exchange traded product backed by bullion now this is all according to bloomberg so these heavy hitters are gold bugs you know off memory right now if i remember correctly source was buying the gold e.t.f. paulson was either in the. buying physical one of these two guys or both have been unloading up one point or the fact that they're getting back on is interesting i think also the fact that this coincides with source of speech means that maybe he's going short credit is going along gold is going short if your currency is so you know these guys are these guys could potentially these guys can these guys work on the margin so if schorsch is right if this is true is or is betting on gold and he's right then we're in for a real storm of sorts so the money system where a storm in quotes what was going to say something storm a big storm got it didn't i don't know they got to go in time guys so if you want to ban

may be earning a million dollars or two million as a partner in a major firm and someone like john paulson who earned what, $3 billion in one year and didn't pay taxes on it, by the way, because it's all earned in the caymen islands, and he only pays taxes on it when it comes back to the united states. the public takes a look at these examples and says wait a minute. this is a democracy. we're entitled to have some relief. and that's the benefit of a democracy. it provides a method of relieving tensions in the public before it reaches explosive stages. you know, they're asking questions like i was at a recent meeting and someone said well why are american ceos making ten times what british ceos make. didn't have an answer. i don't know. but the people are becoming more and more aware of it because they're hurting economically. this last meltdown has acutely raised awareness in the public. and unless congress, as diane points out, takes some action to alleviate the tax inequities, and i think we all agree that the tax code is far too complicated and is riddled with tax subsidies and needs t

i think john paulson is there though. >> john looks good too, butly is my number one pick. >> perhapsde his name and fortune and now he is a stock picker and his friends hadn't been doing so well year to date compared to the broader marks. is that an example? >> we are take picking on him because he bet on the trade and got there early. if people give him time, the macro theme and the stocks that he got in the portfolio will work well. that say problem for us in the hedge fund community measured month to month. i think over the long-term we will be vindicated. >> good to see you as always. >> thank you, melissa. the cubs are in baseball. you should have told them that. >> you didn't think i knew that? >> i know you knew that. i'm trying to team up with you against him. >> okay. anthony. see you later. the moment we have been waiting for is three minutes away. let the countdown commence. we will lift the curtain and unveil the trade of the day. the elements for success. stick around and find out what it is. you won't just find us online, you'll also find us in person, with dedicated su

let me ask you a question, if you're looking for a headline grabbing trade, a john paulson moment, 200% short betting on correlation trade where everything goes down and make paulson-type money instead of 100% cash safely sitting on the sidelines. >> i'm not safely sitting on anything. what's safer you wouldn't tell me particularly why you wouldn't disagree with me. >> if we have time i'd be happy to. >> you can call that as net short, but i think it's aggressive. the point is the point. you step up and make the call when you see signals to perpetuate the call. i see the signal. i've been making it multiple times. you can disagree fwu want. ben bernanke disagrees, too. if you get policy right, you'll get the dollar right. if you get the dollar right, you'll get everything else right. >> thanks so much. see how it pans out. have you back when you change your position if and when. >> jpmorgan sold off between 65, 70. shares popping 2.5 on the news, down more than 10% since the company announced the multi-billion trading loss. this brings back dividend, buyback, two key words people are fo

. >>> and robert frank reports that john paulson purchased a palace for just $49 million in 2006.t property was listed at $135 million. >>> ethan jones downgrades the uk's credit rating to double a minus from aa, citing concern the uk can continue to cut its deficit amid weaker economic conditions. >>> more mixed economic news. new orders for u.s. factory goods declined for the second consecutive month, falling to .6% in april. however, summer jobs for teens are rebounding, soaring to the highest level in six years. nearly 160,000 teenagers landed jobs in may, according to out-placement firm challenger, gray and christmas. >>> teens may be encouraged by the labor market but president obama still trying to recover from the latest bad jobs report. we will tell you how he's on the attack now. "the kudlow report" back in a minute. this country was built by working people. the economy needs manufacturing. machines, tools, people making stuff. companies have to invest in making things. infrastructure, construction, production. we need it now more than ever. chevron's putting more than $

well, apparently, a ski ranch for hedge fund titan john paulson.price. it is an interesting read, to say the least. you can find it on our facebook page at facebook/january singco. e my way ♪ ♪ spread a little something to remember ♪ [ female announcer ] fresh milk and real cream makes philadelphia and the moment a little richer. tell me you have good insurance. yup, i've got... [ voice of dennis ] ...allstate. really? i was afraid you'd have some cut-rate policy. [ normal voice ] nope, i've got... [ voice of dennis ] the allstate value plan. it's their most affordable car insurance -- and you still get an allstate agent. i too have... [ voice of dennis ] allstate. [ normal voice ] same agent and everything. it's like we're connected. no we're not. yeah, we are. no...we're not. ♪ ask an allstate agent about the value plan. are you in good hands? that's good morning, veggie style. hmmm. for half the calories plus veggie nutrition. could've had a v8. >>> more controversial statements this morning. surrogates of the presidential campaign going off mes

. >> as i reported this morning, billionaire john paulson just spent $49 million for a new house in aspenen on the market at one point for $135 million. this reminds us that even in the megamansion market, the good ole days and the good ole prices of 2007 are largely a fantasy. a lot of them did not have happy endings. let's consider our first home, maison delamitie. palm beach. donald trump was the seller. $125 million. it sold for 1$100 million. not a bad discount. today this house is in a bit of array. the russian buyers are now divorcing. no one's lived there in more than four years. it's caught in a massive global legal battle. we saw an even bigger discount at this house which is called candyland. it was on the market. it's called candyland because of candy spelling, the owner. it was on the market at one point for $150 million. it sold for $85 million. a 40% discount. now, again, this was a house that was priced big and sold for 40% discount. but petra eklestone who was the buyer had hired a team of 500 workers to renovate. it was a bit of a fixer upper. i think renovate. the bigge

and how much of the moves that you have made have come under pressure from the likes of john paulson and others dissatisfied with the share price performance? >> all shareholders have a right to state their opinion. but the board and i and management team really looked at through three levers. one you noted. first, what are the businesses we felt had competitive positions upon which we could invest for profitable growth? second was, we wanted to be in businesses that generated capital. and third, to your point, which lowered our market sensitivity. so we have proclaimed, as you know, we're going to go forward with our commercial property casualty business, our consumer property casualty business, our group benefits business and our mutual fund business, which is a very exciting property in conjunction with wellington management. >> what kind of exposure do you have, if say the worst case scenario unfolds in europe and the volatility in these markets increases rather than decreases, even though we may be the prettiest girl at the dance. >> right. >> the rest of the dance floor doesn't

john paulson has bought the famed hollow ranch in aspen from the sawed cancan saudi prince.er $100 million. but it went for just about half of that. >> huge fall in the value of this property. but this is massive amounts of money. >> starbucks has bought a bakery chain for $100 million. are you a big fan of starbuckss food? >> i like the tea. but i always get a little nervous when you see companies moving away from their core business. but we'll give them the benefit of the doubt. >> can i recommend they go to denmark, take a look at some of the bakeries there and then mirror that. >> coming up next, we'll hear from exxon ceo about how the company's strategy as demand wakes and oil prices fall has not potentially changed. > optionsxpress, where you can trade your favorite products, all in one account. keep watch on the markets. or use our exclusive tools to help find ideas. it's powerful, easy-to-use technology for trading stocks, options, and futures. keep trading whether you're at home, in the office, or on the go. optionsxpress, the broker smart traders deserve. open an a

the election is not a head-to-head battle, but a he will be facing frank van der sloot, and john paul paulson and david koch. these billionaires won't have their names on the ticket, but they will be determining about whose names are there. and think of the men who are shelling out $1 million on the con s conservative super pacs this cycle. do you notice anything? central casting of the role for "the man." if you were inclined to believe in conspiracy theories, and i'm not, it would not be hard to imagine that these guys would be sitting around the fine tables with a tumbler of scotch and cigar while they plot the election, but the realities of what they do and will and how they affect our political outcomes are stark and complicated. to tr most part, they are not giving directly to republican candidates, but using the super pacs and other groups. politico.com reported that through them, they will likely spend $1 billion for the november elections for white house and congress. koch organizational loan plans to spend $400 million for the election is season, which is $300 million more than john

the marriott board and they've each given $1 million to the leading pro prom any super pac and john pa paulson has also given $1 million to the cause. >> what romney is doing is following the traditional strategy of coalition building. that's how american politics has always worked. all you have to do is agree on one thing and you're part of this campaign. what is that? we want to fire barack obama. >> reporter: here's how the numbers stack up. romney's campaign has raised over $100 million today date, obama's has raised $329 million. but the difference, the super pack numbers. the leading super pac has raised $10.5 million compared to romney's at $56 million. support for obama's reelection has the most money so far so they can say that won't be the issue. >> this election is going to be about the economy and the future of our country around it. who is going to build an economy that grows and is secure for the future. that's the focus. >> mitt romney may have a lot of balance mayillionaires writing but president obama has a lot of heavy hitters in hollywood. we saw that star studded affair wit

between a lawyer that may be burning a million dollars as a partner in a major firm and someone like john paulson who earned $3 billion in one year. and did not pay taxes on it, by the way, because it is all earned in the cayman islands and he only pays taxes on and becomes back to the united states. the public looks at these examples and says wait a minute, this is a democracy. we are entitled to have some relief. that is the benefit of a democracy, it provides a method of relieving tensions in the public before it reaches explosive stages. i was a recent meeting and someone said, why are american ceo's making 10 times what british ceo's make? i did not have an answer. i don't know. but the people are becoming more and more aware of it because they are hurting economically. this last meltdown has acutely raised awareness in the public, and unless congress takes some action to alleviate the tax inequities, and i think we all agree that the tax code is far too complicated and is riddled with the tax subsidies and needs to be cleaned up, but until the public reaches that explosive stage, and it may

difference of the lawyer earning a million dollars as a partner in a major firm and someone like john paulsonwho got $3 billion in a year and didn't pay taxes because it's earned in the cayman islands and just pays taxes on it it when it comes back to the united states. the public looks as these examples and says, wait a minute, this is a democracy. we're entitled to have some relief. that's a democracy, providing some relief in tensionings before reaching explosive stages. they are asking questions -- i was at a recent meeting, and they asked why are u.s. ceos making ten times what british ceos make? i don't have an answer. i don't know, but the people are becoming more and more aware of it because they are hurting economically. this last moment down has acutely raised awareness in the public, and unless congress as pointed out, takes some action to alleviate the tax inequities and, i think we all agree that the tax code is far too complicated in this riddled tax subsidies and needs to be cleaned up, but until the public reaches that explosive stage, it may be this year or because of tax arm

paulson funds. can't get a break. >> fernius is a good company. >> there's a look at john. one of the biggest deals by far period.uble. glencore in trouble. there, big holder of xstrata saying we don't like the terms and you have that opposition, you have also got widespread opposition to the pay packages to come along with the deal were it to close and real questions about the deal and the glencore deal. $65 billion. >> 65? >> billion dollar commodities deal. the biggest we have seen in quite sometime in jeopardy at this point. we'll see what they do in terms of a potential renegotiation and eliminating the pay packages. >> china. not a place to be doing mineral business. right? i mean, just the worst timing. you see some of these deals breaking down. you recognize, again, talking about eqt midstream partners and looking at where they rang the bell. ipo's awful and m&a, awful. the spark this year is breaking up. undoing. undoing is something to talk about. >> that's a very good point in the case of news corp. and others and a couple you advocate for. that's true. that's what corporate america is embracing and ta

now house majority leader john boehner was a bush administration's point person in negotiationing the stimulus package and met with treasury secretary henry paulsonan aggressive mutual fund. the following day, the white house announced the stimulus package. boehner's declined to discuss the transactions. the 34 members of congress who changed their portfolio both parties equally represented in that. not unethical according to rules but certainly questionable by regular standards. we're back with more after the break. come into red lobster and sea food differently. he's certifiably insane! and just signs a deal for $100 million and people listen to that crap! i just can't believe it. 1-866-55-press. your latest on glenn beck. let's talk about it. >> announcer: this is the "bill press show." live on your radio and current tv. [ ♪ theme music ♪ ] >> announcer: ladies and gentlemen, it's "the stephanie miller show." ♪ i'm walkin' on sunshine ♪ ♪ i'm walkin' on sunshine ♪ ♪ and it's time to feel good ♪ ♪ hey, all right now ♪ ♪ and it's time to feel good ♪ >> stephanie: it is "the stephanie miller show." welcome to it. six minutes after the hour. we're