in 2022, kkr sold the business for a ten-fold return.summoned to the factory floor. they knew they stood to gain, but not precisely how much. >> pete gets up there and announces what the payouts are going to be. you're smiling. you're smiling. >> obviously, i'm excited for mself. i mean, how could you not be? how could you not be? and they start tossing those numbers around. >> and so even our newest colleagues are going to get a meaningful payout of $20,000. >> you know, $20,000, $50,000, $100,000. holy cow, you know? they haven't even got to 19 years yet, right? >> your seniority level? >> yeah. >> the payout is six and a half times. >> brad and crystal were too modest to reveal exact numbers, but told us they check was in the mid-six figures. >> life changing? >> absolutely. >> and not just for us but for our kids, too. >> yeah. our kids don't have to worry about us being stressed out about money. we're not working night shifts. >> the edwards family donated to their church. they finally paid off that credit card debt. and they starte

they went to work at apollo, kkr, carlisle. we like people that get private equity experience.think that's the best background for what we do. we are really private equity investors investing in the public markets. the sort of temperament of a typical private equity person fits well here. we only own really eight companies. they don't change that often. so this is not a place where a typical hedge fund firm is people cycling through the idea of the week or idea of the month. here, we may do one new idea a year. david: another area investors have been very interested in lately is artificial intelligence. are you investing in things related to artificial intelligence? bill: the most direct investment we have in ai i would say is google or alphabet. david: you are a shareholder of alphabet? bill: we are a small shareholder of alphabet because it is a large company. actually, it was ai that created the opportunity for us to buy google at an attractive price. basically, microsoft and openai had a very powerful demonstration at the launch of a new product, and google's launch was a b

kkr, should i keep it or dump it? >> one of the best companies. i have been able to meet the ceo.ly good company. let's go to tax us. >> booyah, jim. thank you so much for being great at stock market analysis. you have been a wonderful teacher. you helped my kids to be interested in learning about stocks. i really appreciate that you are a great teacher. >> younger people, i am trying to get them in. how can i help you? >> the stock that i want to practice on is next era energy partners. >> i'm not sure why you would buy it other than the big dividend. >> that is the conclusion of the lightning round. >> lightning round is sponsored by charles schwab. coming up, cramer went shopping for cosmetics and learned a valuable lesson along the way. you cannot make it up. mad money will be right back. icy hot. ice works fast. ♪♪ heat makes it last. feel the power of contrast therapy. ♪♪ so you can rise from pain. icy hot. >>> tomorrow, inflation impact and crucial investor insight on the state of the sector. >>> what can i say about estee lauder? they were already performing in my travel t

. >> kkr trading down to 98.25, seen if you can get some on the second sell-off. >>> i know your phones are ringing off the human, but i appreciate you being here. i'll see you at 3:00. >>> welcome to "the exchange." i'm kelly evans. the global sell-off that we have on hands. japanese stocks dropping 13%, now in a bear market. that is having major ripple effects. here at home, the dow is down 1,000 points. we are off the worst levels, and in what jeff kilberg calls a great buying opportunity. dom, can we tall it a big board? >> much bigger thanle telestrator, but there's a reason why. we're featuring some of the biggest moves lower that we have seen in quite some time. this is pretty good by comparison. at the lows of the session, the dow industrials are down, 38,829. at one point we were down north of 1200 points. wow. >>> the nasdaq composite we're going to call arguably the epicenter of this. megacap technology is the real focus. we're down 3% because of those names. now, remember, at the lows of the session we were down over 1,000 points in the nasdaq -- >> on the nasdaq, more than

i pointed out the fact that kkr, the owner of sky dance did not put any equity in.ot signed never showed in any way for partnership. sort of interesting. things got to an investment place, and they're like, what are we doing here? did you notice how quickly the linear cable network ecostructure is declining? >> i mean, this is the acceleration of the decline. i really think we'll see numbers that are so bad. have you ever anybody that pays a cable bill anymore? anybody? >> you do, i do. >> yeah, they're suckers. >> i'm going to move to mtv. >> my kids say, look, dad, i watched your ten-minute broadcast. >> are they doing that? >> what else do we need? that's not the point, that's the gateway. that's not unlike what's going on with the gateway drug. >> said that, i did the other day just talk about our viewership, i got lots of positive response out there, saying they're still there. around the world. >> what do i know. deft is not a good deal. deft is wrong. >> cannot get around the fact the most pessimistic forecast about linear cable networks prove to be too optim

when i looked at the people he had there, i mean there was no kkr. there was no blackstone.nd some guy from kazakhstan, borat maybe, i don't know it was the weirdest thing t looked like this was a play. this is my opinion. it is not fact. end on this, looks like a play to get david ellison to throw more money at this deal. he would never go there because he had some good protections. >> you're the deal-maker when you sit on the program, thank you, charlie gasparino -- >> i'm not -- taylor: you're breaking down the deals own this show. for that we are grateful. closing bell ridges in just about four minutes. we are close to another record here on the dow as you can see, if we stay in the green. that is all we have to do. it would be another record high for the second day in a row. home prices still at a record high in june, but showing signs of a slowdown. the s&p corelogic, case-shiller 20 city house price index rose 4% month over month. prices in the biggest metro areas were up 6 1/2% for the year in june. today's "countdown" closer thinks real estate is a good play for you

the paper says that firms including blackstone, kkr and carlisle are doing so as geopolitical tensions rise and beijing puts tighter controls over businesses. that report comes as policy makers in china are working to combat souring sentiment from investors looking to put work there. we have more from this story in beijing. good morning. >> thanks, frank. today the people's bank of china left a key policy rate unchanged. normally that is not so interesting. in the past, we have never had an announcement about this medium-term lending facility or the mlf at this time of the month. and that's because the people's bank of china is attempting to adopt practices of other central banks including the federal reserve by focusing markets on a single policy rate, the seven-day reverse repot rate. they signaled on multiple rates. that led to a lot of confusion of the bank's messaging in the marketing led to a diversion of rates with what the central bank was trying to do. what we're seeingnow is the central bank is trying to really clarify the direction of its monetary policy and restore confiden

the space like kkr famously. i won't get into the controversy around that but many people would say it's really employee ownership. the owners come out with 2 to 5% ownership whereas many esops 100%. on the other hand the sort of supporters say well look to 2 to 5% is much more than zero. which is true. and it's hard to argue with those stories where get enormous windfalls. then the debate goes back. well, the other 5% is a lot less than a hundred. so where you settle on that, i don't know i guess, you know, my my sort of my final thought i am i good time is going to wrap it up maybe. yeah. okay, so so final thought for you is like the subtitle and in fact the title of books are often not chosen authors. so this is obviously wildly ambitious subtitle which i am now pleased to disclaim in public. i think even if we do everything in my book and probably many other things beyond we be at a just economy right that's a very lofty goal and the of sensibility of the book and maybe of many people in the room is not like,

financials, you've got your jpmorgan, goldman sachs, kkr, interact iive brokers, new holdings there are places you could go outside of technology if you stay high up. >> why not small or mid cap? if i told you that the data this week for many is going to confirm the belief that you're going to have the soft landing, fed's actually going to tpull i off, right growth is not fully stalling i know atlanta gdp came down today from 24 to 29. nonetheless, that's not bad. the fed's going to actually pull this off so why shouldn't i go to these other areas finally and believe in that? >> yeah, i mean, i guess i'm -- i think joe did a good job of what you asked me to do which is bridging what looked like a gap. i think the market would be higher in 12 months also is today the best day to deploy capital. i think we're going to get lower entry points, a lot of names in the next couple of months. 12 months i agree, if i were running a hedge fund, it would have covered some shorts earlier in the month you made some money, and then you're like saying which lawns, i'm not two feet in, i think we're --

this was owned, in part, by kkr, which then ended up owning a decent amount of walgreens for a while.rought stephan into the company. in 2014, they completed that. it has not gone well. anything there. and obviously, you've talked often about the competition they're facing from the likes of amazon. so many pressures on the business. look at what's happened there to that company. we're talking about it below an $8 billion market value now. this company once had a 70, $80 billion market value. >> it was in the dow, but the dow i know is atavistic. >> there's still some -- some chatter about, will they do something with boots? could they take that public? that's the european operations essentially, you know, is there some sort of exit that they can rely on there? >> things are happening so fast. >> we lauded him at the time as a great business guy, incredibly wealthy, still pretty wealthy, but -- >> wow. he is wealthy. >> quite a diminution of value. >> i think there's a couple things. they do have -- they've got a stake in bright spring health services that they can sell. >> okay. >> wh