paula campbell roberts from kkr to show you where we are on the market. still holding onto nice gains. 1.6% higher. we are not higher for the week. the nasdaq zooming because the three best-performing groups are consumer discretionary information-technology communication services. the nasdaq is up 2.6%. citigroup's u.s. equity strategist scott kroner on today's rally and what to do with technology after the master expect rebound over the last month or so. the naaqsd 100 now up over the last month, 14 1/2%. we will be right back. >>> treasury yields have turned lower. today's markets down poured focused on seasonality and the s&p. >> how the s&p 500 this year is tracking against a composite of cycles that show the tendencies of what the market might have been expected to do in 2022. is is called the ned davis research cycle composite i said at the beginning of the year is a broad sense of what not only the seasonal factors that the four-year election cycle as well as the tenure decade cycle your heading into. does that matter? history says this is of the y

general david petraeus is a partner at kkr him chairman of the kkr global institute which he established in 2013. prior to joining kkr, he served 30 years in the u.s. military committing his career with six consecutive commands, five of which were in combat and including command of the surge in iraq, the surge of u.s. central command, and command of coalition forces in afghanistan. following retirement from the military, and after senate confirmation by unanimous vote of 94 to nothing, he served as director of the cia during a period of significant achievements in global war on terror, the establishment of the digital initiatives, and significant investment in the agency's most important asset, it's human capital. general petraeus has earned numerous honors, awards, and declarations, including foreign defense distinguished service medals, the bronze star medal for valor, to nato meritorious service medals, the combat action badge, the ranger tab, and master parachutist and aerosol badges. he's also been decorated by 13 foreign countries. so please join me in welcoming, america's greatest

you take a look at how they are trading grow to two peers, you have seen blackstone within the and kkrsame timeframe. even though you have seen carlisle start to shift in pivot credit business and doubling in six months alone, are seeing companies smaller and newer exceeded carlisle in market value. they are bigger companies and carlisle was the first to say it would be more shareholder friendly. all this was supposed to draw tailwind to the stock performance but a lot of the companies that are its biggest rivals have one out in the stock market in the end. alix: is there another top leader of a private equity firm that isn't homegrown and is not performing as well as peers? >> over at apollo, the generation under him that is still a while away. everybody is on watch. it is showing you that even if you are chosen by the founders, the five-year contract is a five-year contract. and what happens in those years matters a lot and there is a lot of push and pull. how much leverage you have if you are not one of the founders. i think it is a great question and another question about whether

kkr view of affidavit may be very helpful if there are that information in those interim tw months, that'shat happened to get they talked about just a lots of unknowns here and what they release really doesn't giv us a lot of information. there could be something in there that might explain what seems to be this major disconnect, but there might not be. back to the point, it is what appears to be the most drastic move when they could have gone the subpoena road and tried to before a judge for not complyin with the subpoena, but we don't know what does in there. what the information is, how they characterize their interactions, that might be important. i think there is a good call to release because the department of justice was linking information while this thing wa healed and while the attorney general say they don't want too. i think it is a hard to say we want to keep it sealed, but we want to be able to steal talked to newsweek on the side. that's a tough physician to hold . >> i will give you the final word here tonight. >> think the bottom line here i we need more transparency. i do

army general david petraeus, the chairman of kkr global institute, which owns some defense contractingral does not work with the firms. general, taiwan's military says at least 11 chinese missiles struck the sea surrounding taiwan. 22 chinese warplanes entered the air defense zone earlier today. these are unprecedented steps from the chinese government. how do you interpret them? >> well, they are very muscular statements and very muscular actions, jake. although the eastern command of china said earlier today that it actually completed all of the live-fire exercises and that the maritime and airspace restrictions are have been lifted. it could be that we are starting to see this begin to wind down, though there are still temporary halts on certain exports from taiwan to china. i'm sure that the rhetoric will continue for days and that some of the repercussions could continue for weeks or even months. >> speaker pelosi's visit comes at a time when relations between washington and beijing had been strained. today we learned that the u.s. is postponing a planned intercontinental ballisti

from the investment firms whose employees benefit the most of this loophole, like private equity firm kkrvestment bank goldman sachs. one blunt and honest billionaire, bill akron, called it what it, is tweeting, the carried interest loophole is a stain on the tax code. it's an embarrassment, and it should and now. like i said, this discussed is bipartisan. president biden has called to close a loophole many times. white house statement couldn't be more clear, quote, the president calling on congress to close the carried interest loophole. by the way, it's not just biden. here are both his predecessors. >> the carried interest deduction, a lot of other deductions, and frankly, it is a joke. it is tremendous amount of money and it is money they really don't need. >> we've lost the balance between work and wealth. i will close the carried interest loophole. >> obama failed, trump failed, and now it looks like biden is going to also fail. out front now, democratic senator sharon brown of ohio, the chair of banking, housing, and urban affairs committee. senator brown, a lot to talk about. i wa

this includes, i am reading from the financial times, donations totaling $54,900 from executives at kkr,000 from carlisle, more than $27,000 from apollo, more than $24,000 from capital, and more than 23,000 from riverside partners. >> for the first part of the question, bernie does not have the leverage of manchin and sinema do. because they won't go along with what might have demanded, any additional thing that would have said fine. we know that for certain because we thought there was going to be no bill just a few days before there was a bill. i have no criticism for bernie. i think he did everything he did -- and if we step back, the reason this bill exists at all is because of the sanders campaign for president and how he framed things they get go, at the start of the biden administration. i think all of the positive things, the -- the single most credit for that is bernie sanders. the most positive things are the reflection of a grassroots movementcross e country. that is what we got this. he did not have the leverage to get more. on the part about senator sinema, you are right. y

often come to fruition perhaps unity will be interested sequoyah and silverlake will be key voices kkr on the other side owns 20% of applovin. >> yes this speaks to the environment we've been talking about over the last couple weeks where private equity has been hunting around in the sub 20 billion, sub $15 billion market cap a lot of these stocks that have taken a haircut isn't drastic enough to talk about the sort of repricing that's gone on here. the ironsource deal potential deal, there was private money in there. potentially it seems making it easier, more palatable if you were to go the applovin route the execution would be really tough because these are two companies roughly the same market cap you have bigger work forces, more employee comp concerns to deal with. does it distract you >> yeah. all good questions, john all reasons why you might expect unity at this point has said nothing more than we received the offer and we'll consider it. but we'll have to pay close attention here it's rare indeed that they would say, okay. sure we'll take it. that would seem to be an unlikely

very glad to have david petraeus, former commander of forces in iraq and afghanistan, now a partner of kkrith us today, general. what is your assessment of the meaning of this strike and the end of al-zawahiri as well as the position and what it reveals about al-quaida and the taliban now in afghanistan today. >> it is a very important achievement by our intelligence and counter terrorism communities. a tribute to their tenacity, their creativity, their determination. it also reveals the taliban has not lived up to the dohan agreement. they said they would not allow extremists on their soil. the taliban refused to eliminate themselves in the wake of the 9-11 attacks. i should note that we have had to keep al-quaida from trying to re-establish various sanctuaries there over the years, including when i was the commander in afghanistan and that continues even in the wake of the operation that brought osama bin laden to justice. in fact, in the final few months that i was the commander there, an operation over seen by the forces. very important achievement. but one that is very clear evidence

>> our industry is built around big global players, general atlantic, kkr, they have all had officesapore for some time and they are expanding investment into indonesia. vietnam is a very hot market. we also have not seen a thriving ecosystem locally and singapore. i was in singapore in june. i met with about half a dozen new venture managers that had been active over the past couple of years. they are really building the local ecosystem. the stability that singapore provides in terms of the political system is something that is very attractive to global investors. there was a time when china had a certain kind of certainty that seemed to work and obviously an enormous market. i think today by comparison, what you see in singapore is very attractive to global investors, setting up offices there. we noticed almost half of our member firms had offices in singapore. >> talk to us about -- we had a guest last week and we were talking a lot of private market valuation. a lot that we have not seen or we don't know if it is going to come down as far as valuations are concerned. what are you

at the same time, maybe on the fundamental basis -- by the way, kkr owes 20% to applovin and sequoia and silverlake are owned as a unity. >> yeah -- >> companies like sequoia and silverlake are going to be key here. if they somehow decide, we want to engage with you, then maybe something happens. judging from the language previously -- >> i mean, look. this area was so hot. mobile game. 3-d. use the platform. this was terrific. but if you have a larger view, it is really the right one. >> we will see what develops from here. >> she would tell you -- >> seeing some possible mna. >> jim, i am going to make an all stock offer for you, but you are going to own more with the buying company. what do you think? >> as long as i get to wear my clothes and not yours. >> when we come back. that man right there. sanjay mehrotra. >> i hope. >> and planning to ask about the c.h.i.p.s. act, which will be signed into law. >>> let's take a look at these t'th trading, a mixed bag, les call it. les call it. it's down, generally so you can enjoy more of...this. this is the planning effect. as a business