[laughter] tom: thank you, jonathan hoenigment and thanks to you at home for watching the show.nation, and e-mail her at ken by fbn@foxbusiness.com. tomorrow on the show joey jones, shannon bream and shane hazel. and if you like what you saw, check me out on my local shoot, it's tom.locals.com. you know, it's like, i feel like i'm the tom of locals. remember that guy on myspace, tom? that's me. i'm tom. all right, folks. we're going to say good night from new york. ♪ ♪ tom oral how do i look? ♪ ♪ ness unlimited. it's just right for my little business. unlimited premium data. unlimited hotspot data. (woman 2) you know it's from the most reliable 5g network in america? (vo) when it comes to your business, not all bars are created equal. so switch to verizon business unlimited today. ♪ ♪ ♪ voltaren. the joy of movement. ♪ ♪ over the last 100 years, lincoln's witnessed a good bit of history. even made some themselves. makes you wonder... what will they do for an encore? ♪ vo: it's a new day. because covid vaccines just got a big update. just in time for everyone who works. with othe

we have capitalist pig manager jonathan hoenig. jonathan, as we heard investors were expected to be pleased about the possibility that elon will step down from the twitter ceo. tesla shares have been trading down sharply over the last couple months as he become increasingly embroiled in twitter. what's the reaction if he steps down, most likely the implications for tesla? >> even, gerry, great to be with you. if elon steps down the thrill is gone. elon musk reminds me very much of icarus, the mythological god who flew too close to the sun, his wax wings melted. he is falling to earth now. you mentioned the stock, tesla is where the wealth has come from, the ability to buy twitter. it is down 63% just this year. it needs 163% to get back to even. the elon premium is gone. a lot of that is these antics. we've never seen that in american business, a ceo publicly voting on what is company should necessarily do. to me as an investor this guy doesn't have a vision. that is contrary to where elon is been a businessman. he is not only looki

arkansas -- ashley: jonathan hoenig, enjoy the sunshine in florida, my friend. new year to you. >> be well. best to our viewers. thank you, ashley. ashley: thank you, jonathan. let's bring back in lauren. you have some movers. let's begin with, oh, my oh my, southwest airlines down again today 2.5%. lauren: cancellations continue to rise, and analysts at citigroup estimate this debacle could shave as much as 5% from the fourth quarter profits, so we're putting some real numbers on this mayhem. ford, it is the most recalled manufacturer in 2022 the, stock the's down 2%. ford has issued 67 recalls or 17% out of all of the recalls in the automotive industry affecting 8.6 million vehicles. by comparison in distant second is volkswagen, 45 recalls there. sticking with cars, neo -- nio lowering their fourth quarter delivery outlook. they expect to deliver about 39,000 vehicles in the fourth quarter from a previous prediction of about 45,000. so that stock also down by 3%. ashley: all right, lauren, thank you very much. now this: football's g.o.a.t., greatest of all tim

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with me are capitalist pig hedge founder jonathan hoenig and david wagoner. we are getting close to the end of the year, david wagoner, how much longer will markets be on this downtrend? today it is up. >> this evolved with it. this could be more true heading into next year. as many people continue to push the stock somewhere where they are more pro-wall street than pro main street. last year investors curbing their enthusiasm, this theme played out has we saw the antiquated portfolio, the worst year since 1937. i don't think we are done yet and that is why i mentioned our theme for 2023 is a market in constant sorrow. the next market will continue to witness the transition from inflation to growth frustration. not only that but i expect policy response to remain heightened to avoid the mistakes of the 1970s and more purchase on it, or hold mentality, keeping their policy and territory. >> you love talking about the federal reserve. and what john williams says, take a listen. >> i expect to see a significant decline in inflation next year as supply-chain issu

go to scott martin, jonathan hoenig on that. nathan, what do you think hope on many of the markets we're through the worst of it. can change, often does, what do you think? >> neil, keep in mind the destruction has been monumental. this is the second biggest loss of capital, of wealth, since the global financial crisis. all right, there has been tremendous damage done even before the fed started hiking. what seems to be the case this time, the fed is talking about hiking rates. meanwhile interest rates are coming down. either it means, neil, the economy is slowing or inflation is slowing. as you said interest rates are down from 6% or 12% on the long end. the fed looks like they're wrong to me. i'm seeing a tremendously slowing economy. despite today's gain, most stocks are below the 200-day moving average and i'm a bear. neil: interesting, scott. a lot of people have money on the line, mastercard would be among them. mastercard out with a statement that is sees inflation peaking but it is going to remain above pre-covid levels w

jonathan hoenig. -- >> it has been an ugly year.here has been fortunes lost they put to every day terms, you know inflation it is really been public enemy number one, cost average american family go 10,000 dollars since president biden was inaugurated that is after tax this will continue to vex the economy to 23. kennedy: what can people do? you have a list of tips, i think these are all practical, they are things that people can consider now. and put in to action, first one not fun, if you like spending. but it is live beneath your means. >> hard to imagine now, ungovernment sent people checks. to-- you know government sent people checks and told them to go spend it that malinvestment. the real lesson should have been made from your grandparents or great, that depression era mentality, that will continue to develop in 2023. just as it did in 1970s, people are forced to cutback, that is the insidious tax, inflation. live ben beneath your means. >> it is a fun challenge. it sucks but, you don't want to be in debt or run your credit c

let's ask capitalist pig hedge fund manager jonathan hoenig and constellation research ceo ray wang.ay, let me begin with you. hi, guys, thanks for joining us. ray, does this make sense for apple? the situation in china has been chaotic, covid restrictions, lockdowns, impacting how many phones apple can produce at a critical time of the year with the holiday season coming up? does this make sense, ray? >> in the long term it makes a lot of sense, right? apple is 18% market share in china. 25% of the global revenues come from china of the challenge, costs are going up, lockdowns have impeded stuff of course the political issues with china continue to pop up but it is not something you can flip a switch to change supply chains. as susan mentioned. there is a lot of suppliers in the region. they have to move things five to seven years out before they can move the supply chain to india, china, vietnam and thailand. ashley: jonathan. >> one of the strongest frontiers markets i've seen this year, is vietnam. there is a etf that benefits. time for investors to look outside of the normal sup

jonathan hoenig, thanks for breaking it down for us. come back because we will need you next year.ff: aishah, anger is growing as the liberal governor commutes all of the state's death row sentences. that's next. ♪ ♪ ♪ moderate to severe eczema still disrupts my skin. despite treatment it disrupts my skin with itch. it disrupts my skin with rash. but now, i can disrupt eczema with rinvoq. rinvoq is not a steroid, topical, or injection. it's one pill, once a day, that's effective without topical steroids. many taking rinvoq saw clear or almost-clear skin while some saw up to 100% clear skin. plus, they felt fast itch relief some as early as 2 days. that's rinvoq relief. rinvoq can lower your ability to fight infections, including tb. serious infections and blood clots, some fatal, cancers including lymphoma and skin cancer, death, heart attack, stroke, and tears in the stomach or intestines occurred. people 50 and older with at least one heart disease risk factor have higher risks. don't take if allergic to rinvoq, as serious reactions can occur. tell your doctor if you are or may b

lauren: jonathan hoenig, thank you. >> merry christmas.auren: let's start with carmarx up 4.# %, quarterly resulteds -- results set off alarm bills as the clearest signal of how inflation is impacting auto sales. but the stock is surging today after a disastrous year. 3m, judge in florida said the company engaged in bad faith manipulation after they switched its liability argument in the military ear plug lawsuit. the judge calls it brazen abuse of the littuation process. 3m down 2%.. -- gave the stock a $335 price target a, it's 292 now. the 52-week high for this stock is, however, at 339. >>> that partridge many a pear -- in a pear tree, inflation is hitting the 12 days of christmas pretty harold. we're going to tell you just how hard after the break. >>> a bipartisan group of lawmakers wants to stop the new irs rule on paypal and venmo transactions over $600. senator bill hagerty joins us next. >>> plus, fox cameras were rolling as a group of migrants jumped into a river to to cross the border into texas. local officials say this is the

edward: steve, this is hitting southwest stock, but deslight flight issues it is jonathan hoenig. this a buying opportunity for this company or is this revealing underlying weakness in the operations at southwest? >> edward, great to be with you. airlines is difficult business. you battle fuel costs, unions, government controlled, this is really obviously seems to be a operational difficulty, a operational failure of southwest. the fact they were so unprepared with their systems, their population, their people in effect during this terrible snowstorm. so what worries me not just the stock hit but the reputational hit to southwest. this is always the airline was known for its great customer service. we're hearing reports on the ground that is anything but the case. i think longer term southwest will really struggle as all airlines compete on cost or they go elsewhere after this christmas debacle for southwest. edward: david, i know you both work, but david would you book a southwest flight? >> [inaudible]. [audio difficulty] business model. it may leave bad tasted in the mouth of c

jacqui: we are joined by cap it willist pig founder jonathan hoenig, thank you so much for joining ussaturday. >> great to be with you, jacqui, thank you. jacqui: the jobs numbers that came out, seems like something of a good news could be bad news situation because, you know, it came in higher than expected. unemployment rates staying the fed meaning that the fed interest rate hikes have not had the effect on inflation that we all hope to see. so my question to you is are you getting more worried that we see a recession in 2023? >> well, look, jacqui, great to be with you. the job's number was good but one sparrow does not make a summer and although this number was quite resilient and beat expectations, the economy is slowing and as you said inflation is the reason. they are not keeping place with inflation which is a cpi running about 7%. so this number was good but there's still a lot of indications that a full-fledge recession is in the thing for 2023. jacqui: one of the big question marks here is the consumer sentiment on all of this. i know that there's a debate among experts on

back with us now is constellation research ceo ray w ang and pig hedge fund manager jonathan hoenig. o, you guys, thank you for returning. jonathan let me begin with you. i'm getting a bit tired of this whole premise of good news is bad news, because of the economy data is too strong. that means the fed are going to be more likely to keep rates higher, blah blah blah, but there are analysts out there who say take your profits now because the bears come back in force. what say you? well, ashley, there's a lot of history to that. back in the 1970s, we think of it as a terrible decade for stock but you had three pretty significant bull markets of 50% or more which had huge gains and gave back all of those gains. i think the real issue here is despite the fed's efforts inflation simply has not been curtailed. it hasn't been addressed and in fact i think the fed is behind the curve. keep in mind, ashley, rates were rising for months before the fed started hiking rates. now even the last month rates have actually gone down about 10 %. the 10-year is from 4.2% to 5.5% so surprisingly rates a

jonathan hoenig with us this morning. remember a year and a half ago you called crypto a ponzi scheme i take it you still feel the same way? >> yeah, the crypto bubble has burst and it's in the midst of bursting and it's not just ftx. stuart with all due respect to the former president the fact he's released this crypto nft program this has long since jumped the shark and a lot of the stocks are reinforcing that. there's one etf wgmi, stuart it's down 82% year-to-date and coin, that's coinbase, it's at a new 52 week low today so you know we've talked about crypto supposedly being a hedge against everything. it's simply moving like other tech stocks down today and i think this is once again an area that most investors should certainly avoid. stuart: news organizations have sued, they want to know the names of all the account holders at ftx. if those names are released there's a lot of big time investors who could be very seriously embarrassed, certainly reputation will take a hit and some big investment firms may have to d