also kevin kelly. david: this is way down after-hours. cheryl: joining me again. through the numbers. lori is on that. jonathan, to you first as we process the numbers. we were talking about vehicle sales. a lot of pressure on elon musk, jonathan. >> just now reviewing numbers obviously. what is interesting to see even a beat you're likely to see the stock trade down. we're watching it now, trading down 7 or 8%. we talk about buy the rumor, sell the fact news. even on companies that beat estimates, stocks fall as a result. quick i we've seen high growth, high volatility stocks like apple, get hammered. tesla is long list of growth stocks not so growing. cheryl: elon musk is sticking with his vehicle targets for 2015. that is one of my big questions, with regards to those vehicles. kevin, looks like at this point he is sticking with his production targets for 2015. >> one of the reasons why he is doing that is because the three months ended that on union 30th, 52% was increase in deliverables. i think that is why he is sticking to his target. going back to china th

kevin kelly, jason rotman, managing partner at lido isle investors. beginning with you, we were talking about the fed after the break and its role in this rally. if in fact we get something out of fed in september. i happen to be part of the camp think there is no way, not a chance they're going to move, but if we did, what would it do to the markets? >> i think it would catch them by surprise not in the best of ways. i think it will bring -- trish: it would be bad? >> it would be bad, absolutely. first of all, i agree that there is not a chance in the world that they're going to raise rates, especially three weeks after the s&p 500 went down 10%. no way. i don't care if they're data dependent, they're market dependent as well whether they say it or not. i think they raise later on in the year if jobs reports next couple months become strong. if they're super-duper hawkish and raise 25 in september, you will not see bulls excited to buy. you will see bears come in. we may go down another 4, 5, 6%. trish: you and i agree with mohammed el-erian who was

kevin: kelly johnson is a remarkable figure in the history of aviation, that is what he is best known. skunk works is the nickname of lockheed martin's advanced research group. during the second world war the allies particularly the united states and great britain realized they had a major problem. the second world war was the first air war. at the beginning of the war, all of the planes use propellers. during the war it was discovered that a propeller-based plane cannot go faster than 500 miles per hour. there are aerodynamic principles that prevent that. british spies found that the germans had solved the problem by developing a jet engine. they were going to be -- bring a jet fighter into mass production in the 1940's. if that was allowed, and was unopposed by allied fighter planes then germany would win the war. kelly johnson and his team were given 150 days to build a jet fighter from scratch. it was the first one united states ever about -- built. that was a major accomplishment, and quite unexpected. in doing that, this is the story i tell in the book, johnson did something els

and how bad is it is the question. >> volatility is the number not risk. >> and dagen mcdowell, kevin kellyr joining us. the man who inspired the movie, jerry mcguire. sports agent will be with us, and def records ceo, suge knight, over to you stu. stuart: thank you. take a deep breath. it's nail-biting time. we'll tell you what's going to happen to your money 30 minutes from now. stocks will be down and the names that took such a big hit yesterday will be down some more. the problem, we have no plan if our economy slides, and china's economy is sliding some more. politics, suddenly entertaining. wait until you hear what trump has to say about the pope and

kevin kelly is the chief infect the -- chief investment officer at kelly capital partners. ity was him -- unprecedented. he even brought his "by heart volatility" hat. you are looking at the volatility of volatility. kevin: this is a great indicator of what we're going to see going forward and how fast volatility is going to move. it seen as the accelerator of volatility. era,g the lehman brothers they topped out at 145. we sought close at 170 and peak around 212.-- peak people are going into the vix and using it as the premier hedging tool. julie: there were some sort of liquidity problems and balance problems because of the delay in pricing on the vix itself for the first half hour after trading. did that also push of the volatility of volatility? are things were volatile when people cannot get orders done? kevin:. it did. it started out at 212 and and settled at 170. you saw the nasdaq bottom out at 8% and then was only down 1%. we did not see it come down to pre-lehman brothers area. we tend to look at volatility on the s&p or the major averages. you have been looking at

. >> amateur photographer kevin kelly's camera captured these final moments of the practice run. >> it is a tragic accident. nobody expects it but it can happen. >> the pilot, the only one on board was killed in the crash. new york state police say he was going to take part in this weekend's air show at stewart international airport. >> it looks like something happened to the rear end of the aircraft. >> a close were look r look at the plane shows the tail beginning to separate. in another shot it's gone. debris seen falling from the sky in the crash. >> it went down in an area where fortunately, no pedestrians or structures were. >> the whole thing has left kelly shaken. his plans to attend the air show now scrapped. >> i recommend other people to do it. just me personally, i just don't want to watch it after what i just witnessed. >> the air show expected to go on as planned this weekend. previous new york air shows have drawn hundreds of thousands of spectators. the pilots name not yet released. in new windsor, becky checkford, today in new york. >> yesterday's crash was the fourth

kevin kelly recon capital. he said he wanted coal to die. now that it has come way down in price. $33 million he is buying. do you think he talked it down in order to buy it? >> david, he has supported environmental movement which is essentially destroyed the coal industry in this country. obama, under obama the coal industry has been decimated. 2/3 of all market cap of all coal companies on new york stock exchange has been eliminated. david: right. >> soros is demonstrating his hypocrisy. he denounces fossil fuels and denounces coal at the same time he is buying them. david: kevin, i'm wondering if there is something more going on. have you ever seen a trader talk down a particular company or whole sector in order to go down low enough to buy into it? >> this is not hypocritical at all. tens of billions of dollars to work. he put $3 million. if he was hypocritical he would have bought loans and loan to. this is hedge bense next year's elections and some politicians goes to the swing states. david: i love it, but to say that it is not hypocritical, not to -- julie, reminds me of a

. >> kevin kelly on a ridge nearby friday afternoon and caught it all on video. breaking off a the single engine plane. it dies out of control and crashes killing pilot he's been identified as andrew wright from texas. it is very unfortunate. you know my condolences go out to the family. it is unfortunate. but at the same time, i'm sure he understand the risk. that he was involved in himself. >> ntsb investigating what happened here. family it willing me they decided to attend to honor that pilot. >> surprised that they were going to still have it. but i mean, i guess he was out here to do it to support what he was out here to do. >> from orange county dan bowens "fox 5 news." antwan: rapper drake appears to be center of a war between rival music streaming services apple music and jay-z title. now this is all because he apparently performed two songs last night at a hurricane katrina charity concert. now according to "the new york post," lawyers were called in because event streamed live through title, and drake has exclusive deal to be worth about $19 million. s

. >> kevin kelly was standing on a ridge nearby and caught it all on video. you can see a piece of debris breaking off the single-engine plane. seconds later the aircraft dives out of control and crashes, killing the pilot identified as andrew wright from texas. >> it's very unfortunate. my condolences go out to the family. it's unfortunate, but at the same time i'm sure he understood the risks that he was involved in. >> the ntsb's still investigating just what happened here, his family decided to attend to honor that pilot. >> i was surprised they were going to still have it, but, i mean, i guess he was out here to do it, so support what he was out here to do. >> from orange county, dan bow want, fox 5 news. >> florida's bracing for the arrival of erika, the tropical storm has been downgrade today a low purchase system but not before it avenue ravaged parts of the dominican republic. in the dominican the storm killed also at least 20 people. let's get to audrey puente with the very latest on erika's track. hello. >> hello. it has been downgraded and is brin

. >> reporter: kevin kelly is the operations manager at holiday harbor. >> we are in survival mode anden a tough run. >> reporter: so why does business continue to sink despite a healthier lake? >> double whammy or triple whammy. with the economy and the low lake level and media coverage, yup. >> reporter: that's a perfectly fair point and i think their frustration is understandable. and it's not just the media that's contributing to this. think about how many people drive over the i-5 bridge every day. and they see that sign that says, shahs. only when they look down here, they see this. so to be sure, lake levels are low. but from the wrong perspective a lot of people are getting the impression that the lake itself might as well be completely dry. >> i had somebody ask me the other day should they bring their boat because the lake was empty? >> once they get out here what were they talking about? there's tons of water. >> reporter: with the flow and costly summer winding down people who earn a living on these waters have already started talking with inter. >> we are hoping for el nin

it is august 25th and with me is dagen mcdowell and kevin kelly. this is your top story at 6:30 on the east coast. if these numbers hold we could see triple digit gains for the dow and a big step forward to wiping away many losses wheat saw in a big sell-off yesterday. we will talk about these moves with former stock exchange chairman dick grasso on "mornings with maria" but back to in these markets, futures and why not portion of losses we saw yesterday. licking the dow futures of 533 points. a huge move in the s&p futures up 65 points, technology making a big come bay and early trading, nasdaq futures up 166, a gain of 4%. volatility we are witnessing right now, another hard night in asia, stocks selling off in a big way with the 4% loss in the nikkei, in japan, china central bank just now on announcing it is cutting a benchmark lending rate, by 1/4%. this is the fifth time since november the chinese central bank has done this. a rally underway in europe triple digit gains on the ftse, cac and the dax. gains of 4% in both france and germany in mi

kevin kelly manages an etf tracking the 30 large esst securities traded it on the dax. >> thanks for. >> what do you make of the disappointing data? >> yesterday the german factory orders numbers were produced. inside the emu, exports were up 4.8% outside of the emu it was up 8.8%. when you start looking at names of the top holding, it is bayer. bayer reported earnings on the 30th. it's actually a biotech company. it's 10% of the index. their eye medicine was up 50%. its ebitda is up. these numbers are doing really well. >> sure. you manage and run an etf that tracks german stocks. is there any circumstance under which you would say, maybe it is time to take the pedal off on germany? >> absolutely. >> you would. >> here's what's happening in china. it is starting to slow down and that trickled through to bmw so they actually mention that in their earnings and said there is a little bit of a slowdown with sales and they're going to revise their earnings out the rest of the year down off of that -- >> my question is, is there any circumstance under which you would say maybe it is time

kevin kelly, dagen mcdowell, gary smith, jenna lee talking with all of you and we appreciate your timeoday and every weekday at 11 a.m. and 1 p.m. eastern right on the fox news channel. that will do it for us today. thanks for joining us. i'll see you sunday morning on sunday morning futures on fox. stuart, all yours. sorry we cut into your show. have a great hour. stuart: anytime, don't worry about it. talk about image, hillary clinton wants to come across as a regular person. hold on, that's not going to fly. good morning, everyone, news today that bill and hillary have taken a two-week, $100,000 vacation in the hamptons, but until be a working vacation. she's tapping her billionaire neighbors for campaign cash so it's okay. maybe that's why the new york times has jumped from the band wagon. joe bide

kevin: hey there, kelly. this couple was screaming at each other and minutes later his female lover was in hot pursuit is the man ran for his life. the outcome was deadly. a lover's quarrel, ending with deadly consequences. police believe that a woman driving this silver suv intentionally ran over her partner, pinning him under the truck. hitting him so hard the cars airbags the ploy. pose a perez saw the aftermath. wrench to pick up the car. theythe ambulance can and checked the paulson he was gone. crash investigators spent hours on the scene. they placed yellow markers besides important evidence, including this baseball hat. allegations that he cheated on her. police are now trying to find out whether that is true. >> there was a man and a woman having some sort of domestic dispute. at some point the man left the residence. the woman left in a vehicle. at some point she struck him with the car. >> 30 minutes ago firefighters used industrial sized airbags to lift up the suv and remove the man's body. detect

>> and dagen mcdowell, kevin kelly and john spallanzani. thank you for joining us. the man who inspired the movie, jerry mcguire. sports agent will be with us, and def records ceo, suge knight, over to you stu. stuart: thank you. take a deep breath. it's nail-biting time. we'll tell you what's going to happen to your money 30 minutes from now. stocks will be down and the names that took such a big hit yesterday will be down some more. the problem, we have no plan if our economy slides, and china's economy is sliding some more. politics, suddenly entertaining. wait until you hear what trump has to say about the pope and bowe bergdahl, he will draw 30,000 people or more to the field tonight. a treasure trove for lawyers: and hint, he's mad as hell and he's not going to take it anymore. "varney & company" is about to begin. ♪ >> let's get to it. the markets, that is. we're going to be down at the opening bell, 70 or 80 points, we're all over the selloff, how bad is it going to be and we will be asking that question for three hours. the price of oil bouncing-- no, not b

it is august 18th and with me this hour is jo lin kent and kevin kelly on capital partners.ig selloff for chinese stocks overnight, china's central bank injecting the largest one day and out of cash into the financial system in a year-and-a-half. look at the sell-off. the shanghai composite closing down 245 points, a loss of 6%. new video from sky news of the blast that rocked bangkok yesterday. thailand's government says it has suspects. neil: people were killed in the blast. we have reports of a second explosion but no reports of injuries. home depot beating on its earnings report moments ago. the home-improvement chain reported earnings of $1.73, $0.02 better than estimated. a slight wind on the revenue side as well. stocks not moving much in the pre-market session. if anything it is trading slightly lower after the better than expected results. starbucks pumpkins spice was a will now have real pumpkin in it. is responding to customers' demand. starbucks will not say when the drink will be released but the pumpkin spice was on the menu in late august. that is highly antic

market watcher kevin kelly says that china is not getting better.f it's know the getting better does that mean we're going to have the volatility because of china again down the road? >> i think that people are concerned that it's a growth scare, right? in china, it's not going to get better. they're trading at high multiples. the government is there trying to help on the market. stuart: are we talking about the market, the government trying to support the market there or the economy continues to slow and is not going to turn around? >> with he will-- well, both. we can see that with the price of copper, china is not getting better on the market side. every time beijing made a move it hasn't helped. they're going in and buying it. what they've done is actually a lot of the market participants can't trade there. the institutional investors because if trading halts for the rules, where is the next buyer in the chinese stock market? it's trying to find that. it could be the government itself, but that's not really going to impact the u.s. markets over

kevin kelly, dagen mcdowell, gary smith, jenna lee talking with all of you and we appreciate your time this morning. see you next week. thank you so much. check out jenna on the fox news channel today and every weekday at 11 a.m. and 1 p.m. eastern right on the fox news channel. that will do it for us today. thanks for joining us. i'll see you sunday morning on sunday morning futures on fox. stuart, all yours. sorry we cut into your show. have a great hour. stuart: anytime, don't worry about it. talk about image, hillary clinton wants to come across as a regular person. hold on, that's not going to fly. good morning, everyone, news today that bill and hillary have taken a two-week, $100,000 vacation in the hamptons, but until be a working vacation. she's tapping her billionaire neighbors for campaign cash so it's okay. maybe that's why the new york times has jumped from the band wagon. joe biden. they now say, is considering a run and maybe that's why the rumor mill is churning about al gore. he denies he's making a run, but democrats are clearly in panic mode. drivers might be panicki

kelly, thank you. and kevin, you are staying with us.oe: coming up, how painful is a cell in the commodities? when we get back, we show you who sees their wealth shrink dramatically. ♪ alix: before the break, we told you a billionaire's club is getting smaller. joe: check out the glencore's five-year chart. it turned six people into billionaires overnight. today, only three are billionaires. has lost 70% and has stolen every year since it went public and 2011 was not terrible for copper. joe: baby when they write the history of this, they say that is how we knew. some really big damage done to the company. alix: despite the fact it is putting out money to pay dividends to investors. julie hyman is that the breaking news desk with headlines from hewlett-packard. the hewlett-packard forecast looks to be a little short. it is going to be splitting up as well. one business will offer technology and services to business, the other will be consumer facing. the fiscal fourth-quarter forecast is the one falling short. the company for the year br

kelly powell and kevin carter, thank you so much.f the hour, thanks for rolling in to the 3:00 eastern hour with me. i'm ana cabrera. in bangkok, island, a bomb hit the area known as the times square of thailand. you can see the flash of that blast, the sparks flying, caught on camera from inside a car that was stuck in traffic there. fortunately, the person inside that car was not injured. and now this video from a surveillance camera at a sidewalk level capturing that same explosion, different angle there. police say at least 18 people were killed, tourists and 117 are injured. those numbers are still rising. this happened in the heart of bangkok near a popular hindu shrine during rush hour. let's bring in our reporter. what's the latest on this investigation? >> reporter: yeah, absolutely, ana. striking, as you say, at the heart of bangkok, thailand. this location, incredibly popular with tourists from right around the world. people coming from the united states and chinese making up the most tourists coming there. this is a centr

kelly: thank you. disturbing charges out of maryland. two parents blamed in the death of their 10 month old daughter. robert davidson and lorena jail facing both in charges of murder. montgomery county reporter kevin rockville withn the latest. kevin: police telling us that this couple abused this child for most of its very short life. lingering question this evening, why would anyone harm something so little, so precious. d.o.a., taking the infant to shady grove hospital. apartmentbehind this door, the alleged suspects, robert davidson and lorena the victim, their 10 week old daughter. husain lives across the hall. my body's shaking right now. very sad. it's very sad. kevin: detectives say davidson

then still in the first, bases loaded, two out, it's kevin -- [inaudible] at the plate stroking a single over the head of kelly johnson playing second. that sends in a pair of runners and will put the rays on top by a score of of 4-3. curtis granderson, who led the game off with his 18th bomb of the season says why not again? his second bomb in two innings, 19 on season, curtis pulls the mets each at 4. now get a lot load of this, bottom of four, evan longoria hits what should have been a routine out, but tejada had trouble getting a grip on the ball. with the runner scoring, that was your game-winning run, 5-4, rays, the final. mets win streak ends at seven, and with nationals winning tonight, the mets' lead is cut to just a game and a half. >>> all right, what do you say we now head up to the bronx where this afternoon the second place blue jays continued to keep the heat on your first place yanks. yanks were hoping to bounce back from last night's tough 2-1 loss, and through five innings nova on the hill looking pretty darn good, keeping the power-hitting jays in check allowing them just two hits in what wa

wrestling, going into -- in he's going to appear on her show, megyn kelly's shows, the ratings would be huge. >> they would. and i love kevin's theory on that. i will say when i was out talking to voters this iowa, new hampshire after he started going after meg appalachiyn kelly, th were a lot of women interested in trump, but who didn't like that level of nastiness. so i think that there is a risk for trump on that front. but as ryan points out, many things we've said about trump in the past have been wrong. so i don't know if this is the best strategy to him, but it certainly does keep people tuning in every day. and he's controlling the conversation again and again driving the story lines and that is making it a really hard for all the other republican candidates to get their message out. >> and we're waiting it see what he says at this rally about to take place in dubuque, iowa. guys, stand by. the republican presidential candidates, now just weeks away from their second presidential debate. it will air right here on cnn on september 16. live from the reagan library in california. coming up, we're receiving new informatio

kevin. >> happy friday. >> as you heard donald trump was asked about temperament towards women mainly calling rosy o'donnell names. he doubled down and turned it into a threat against moderator megen kelly. >> the moderators got the candidates to say what them. i think donald trump responded with what he believes. it's up to voters to decide whether or not they think his response is presidential. i think people like former from florida governor jeb bush tried to show his policies with democratic front runner hillary clinton. he criticized liberals for kind of being okay with a 2% economic growth rate he thinks the country needs to be mores ai raci aspiration aspirational. he grew up living pay check to pay check. >> i think senator rubio emerged as one of the candidates that had a strong night. i think jeb bush did what he needed to to stay at the top of the pack in terms of polling in this long cycle. there's one candidate who had a great night and wasn't on the stage. that's carly fiorina. >> absolutely. >> the narrative heading into the next debate i think is remarkable to see her as she kicks out one of the ten. >> that was my question, do you think she will kick out one of the top

kelly: thank you. disturbing charges out of maryland. two parents blamed in the death of their 10 month old daughter. robert davidson and lorena jail facing both in charges of murder. montgomery county reporter kevin rockville withn the latest. kevin: police telling us that this couple abused this child for most of its very short life. lingering question this evening, why would anyone harm something so little, so precious. d.o.a., taking the infant to shady grove hospital. apartmentbehind this door, the alleged suspects, robert davidson and lorena the victim, their 10 week old daughter. husain lives across the hall. my body's shaking right now. very sad. it's very sad. kevin: detectives say davidson dropped, inappropriately touched and violently shook his infant daughter. when she stopped breathing, he called 9-1-1 and she died three later. >> i have no words for that. st. john is the father of three. >> it's difficult having young kids but it's a choice and i felt that especially if it's not your first one, you know what's coming. and sleeps deprivation. >> there's no excuse for treating a child like this. police say although thompson didn't injure her baby, abuse and chose not to report it. >> t

kelly. >>> a trooper who was shot in the face during a traffic stop has also died. steven vincent was attacked trying to help kevin vague el a suspected impaired driver on the side of the road. that's when he opened fire with a sawed off shot gun. >> it does come with a job. >> there is a danger he faces every single day. we never know when it is our time.se things happen all around the country. >> he was a 14 year veteran. he leaves behind a wife and a son. he will face murder charges. the trooper might not have been his only victim. his roommate was also found dead in his home. he is suspected in that murder. >> the illegal immigrant accused of killing kate steinle as she walked along the pier is facing a judge this morning. they will determine if there's enough evidence to try him on accoun two counts of murder. he does not deny shooting her. his lawyer said it was accidental. >> the honored are pouring in in for the american heros who stopped an attacker on board a train in trance. stone is up for one of the highest medals. good morning, kate. >> good morning. it was just yesterday that spencer received france

kevin tibbles, nbc news, minneapolis. >> that will do it for us on this wednesday night. i'm lester holt. for all of us at nbc news, thank you for watching and good night. >>> kelly osbourne defends herself. her foot in mouth comments about latinos. now on "extra." >>> kelly osbourne facneg the cameras, facing the backlash for saying this. >> if you kick every latino out of this country then who is b ing to be cleaninghyour toilet, donald trump. if i saw that clip, i'd hate me, too. >> the stars take sides on the controversy. plus -- >> mario, as a latino how did you feel when you heard kelly's comments? >>> lled tshelton lawyering up. who he might sue over his divorce. >> plus all new details on gwen, gavin, ben and jen. how fwarner how garner really founlkout aba t the nanny. >> this is so much fun. >> a star on the walk of fame today. the new billionaire boyfriend, is an engagement next? >> then over 3 million views of the new deadpool trailer. daddy needs to express some rage. and only i'm on the set with ryan reynolds as the former sexiest man alive reveals his dating disaster. >> i was totally panicked. >>> plus "grey's anatomy's" ellen pompeo and her first

kelly and other witnesses who testified they saw a man with a blew steel revolver, six feet tall with close cut hair running past them. kevinn was 6'0" went by the nickname kojak because of his close cut hair. once all the evidence was examined it was clear beyond imagination that kevin freeman, acting alone, murdered ray liuzza. >> michael and gordon now believe they had a strong case for a new trial. >> we had an evidentiary hearing in front of judge quinlan. and quinlan vacated the death sentence but he refused to vacate guilt. >> judge quinlan refused to grant a new trial. >> we were devastated. >> it was wonderful to have john thomson spared from execution, we were still looking at a man in his 30s who was going to be facing the rest of his life in jail. >> so you're going to take the death penalty back and give me a life sentence? i was scared to death even more so now. you tell me i'm never going home again? that didn't give me no relief, none whatsoever. i was doomed. >> michael and gordon appealed the judge's decision, they knew this would be thompson's last chance for a new trial. >> john's going to go free or spe

. >> host: kevin ashton, another one of the stories you tell in your book is about kelly johnson at the skunk works. who was he? >> guest: so kelly johnson is a remarkable figure in the history of aviation, first of all, and that's what he's best known for. the skunk works is the nickname of lockheed martin's advanced research group. and during the second world war, the allies -- particularly the united states and great britain -- realized they had a major problem. second world war was really the first air war. and at the beginning of the war, all the plane, the bombers and the fighters, used propellers. and during the war it was, first of all, it was discovered that a propeller-based plane absolutely cannot go faster than about 500 miles an hour. there are some aerodynamic principles that prevent that. and then british spies found that the germans had solved this problem by developing something called a jet engine. and they were going to bring a jet fighter into mass production in the mid 1940s, and if that was allowed to happen and it was unopposed by allied fighter plains -- planes,

kevin o'leary with our panel. welcome, first of all. you support what these companies are doing? >> i do, and i'll tell you what, kellyrket. there's no government agency telling what to do. they're deciding on their own. this is how they want to be competitive in improving talent and attracting it. as long as we leave this to the market, you can't go wrong. >> why not just double people's pay? >> look, that's different. when i hear about this idea of minimum $15 mandated by a municipal or provincial or state government all around north america, i hate this. >> i don't think netflix employees are the $15 minimum wage workers, the ones -- why not pay them even more? >> but the point is, this is something they on their own decide will be the whole element. that's how the world works, makes america great. there's no government guy thinking this through. you don't want that. now, look, if this makes them uncompetitive long-term -- i think if microsoft jumps on the bandwagon, watch other companies in tech do the same thing. you can't find another country, australia, finland, canada, you can't get this good of a deal. they'l

kevin olarry and dally who is in the business and thinks he couldn't be more wrong. the data is jumping. this part of the economy seems to have something behind it. >> kelly20-year cycle where interest rates have done nothing but go down. one of the reasons the market, whether the fan moves in september or december, here is an asset class that never performs well in a rising rate environment. domestic housing -- >> rates are rising again, kevin. >> in a rising rate environment, the cost of housing and capital goes up. the asset class goes flat to down. here is the thing people never remember. the cost of chantransacting is e is the highest in any class you invest in. >> kevin, you're jealous we make so much money. >> you're addicted to housing. >> look what happened today in the stock market. what are you talking about, seriously? today is the perfect day. >> i'm your frie. i'm going to help you. >> i love you, kevin. >> we'll wean you off housing after 20 years. i called betty ford. there is a special unit for you and others addicted to housing. i'm going to help you. >> i've posted a picture on instagram literally on friday of a house coming on the mark