it's a spinoff of home builder lennar.is the largeest owner of mixed use master plan communities in coastal california. the stock is up 9.5%. joining us in the cnbc exclusive, emile haddad the ceo of five point holdings and lennar's ceo, stu miller. good morning and congratulations. so emile, talk about the process. you filed to go public back in 2015. you pulled the trigger today. it did price below the expected range of about 18 to $20 but got a nice pop at the opening. >> we were ready to go, the market wasn't open for the ipos and we waited until the market opened. here we are. we are very excited to be a public company now. >> you still are going to hold a big stake in voting interest. >> we have been working on this strategy which is building master plan communities now for about 20 years. the opportunity to bring it public is really very exciting. we opened below the range, but it's not about where you start, but how you proceed and how you grow along the way and we're really excited about it. >> being characterized

i got on another name, lennar, len. i also sold micron, i lightened up further there, i believe in my bets and home builders were a strong bet. >>> coming up, the make or break moment for retail as some of the earnings. could it be a final nail in the coffin? plus, slashing a stake in ibm, you might want to hold off until you hear our special report. we got the details. later, we all know about the horse. how would you like to turn time into money? that's what our traders wants to do with shares of disney. he'll break down that trade, much more "fast money" still ahead. le, want all our rooms to be tv rooms. because those are the best rooms. because they have tvs in them. and, when we're not in those rooms, we want our shows to go with us. anywhere? you got that right, kid show thing. get a directv all-included package for 4 rooms. only $25 a month, price guaranteed for 2 years. available for at&t unlimited plus customers. usaa gives me the and the security just like the marines did. the process through usaa is so effor

i own lennar, k.b. holmes and pulte. i think there is a housing recovery, they will get pulled in. monsanto has an established takeout price of 1 twaeth tradeth at 160, 170. i think you have upside there. >> david defended it in the "fast money," what was that, "mad money"? >> madness. >> i said a lot of things on this desk. >> i get old, i forget. nvidiaiot downgraded in the '90s, steve hess has been talking about it. >> that stock is up now 38% in the last three or four weeks. now you have analysts not down grading, up grading the stock. they are figuring it out. it's crazy the run, nvidia to seems to me going up from here. >>> shares on after hours, the earnings report, jim cramer spoke, we'll hear what he said right after this break. plus brazil sending emerging market runners running. mark yusko says it could be the best trade, mark zuckerberg celebrating five years t. stock up a whopping 300%. should you buy facebook for the next five years? we got a special report. much more "fast money" still ahead. stay with me, mr. parker. when a critical patient is far from the hospital,

we like lennar.he next ten years. we're drastically under-home and it's showing up in the way people, 12 people bid for a home when it comes for sale. we've got to build a lot of new once. we like lennar. they hold more buildable lots and options on more lots than any company in the united states. we like bank of america. if the millennials become 35 with two kids they do a lot more mortgages, a lot more car loans, a lot more everything related to using the bank in a way they haven't before. and ironically the big banks have control of the millennials because they have better technology because they can spread their customers. >> so you like berkshire hathaway? >> yes. >> make the case and why is it different than owning the s&p? >> oh, that's simple, there's a number of ways they get at the home building and the household formation. first of all, they own clayton homes the largest maker of homes in the united states. they own the railroad. if you watch the railroad cars now, you're seeing wood that'

housing formation just spiked higher, and now you see all those home builders, kb homes, pulte homes, lennaree and you start to see these stocks that are up 20, 30, 40 percent, and starts to really gain a lot of your attention. but story's not over yesterday. i think it's probably in the first three innings. >> sure. >> that housing recovery. >> don't forget. a lot of americans own homes. to see your asset value holding its level is a very important psychology. >> outside of home loans are there areas, barbara, that are showing some signs of concern? >> well, you know, so here's how the market's trying to square it. so, clearly the sell-off that you had two days ago was very much related to the issues coming out of washington. but the market is trying to square another issue as well. so the survey has been very, very strong and the hard data has not caught up yet. the way we're thinking about this at voya, we think the soft data is going to roll over a bit and the hard data is going to continue to come up to meet it in part because our leading indicators of employment are very strong. and so