, but whoever leon cooperman is, i know of him, he can have his own view meantime, i'm making him riching a lot of other people rich, including the working man and woman. tell leon who i've seen but i don't know, tell him congratulations because he did very well with trump >> the president defending himself on economic grounds, saying the economy is doing well, that leon cooperman is getting rich, ordinary men and women are doing better under his economy, saying he doesn't know leon cooperman, sort of contradicts what leon cooperman said previously. said he has been at a private dinner, discussed issues like amazon and whether or not it is a monopoly with an intimate dinner with just ten people at it cooperman seems to suggest he does know the president, the president saying he doesn't know leon cooperman, whoever that is. asked by reporters about michael bloomberg, former new york city mayor getting into possibly the democratic race for president. here's the president's take. >> he doesn't have the magic to do well. little michael will fail he'll spend a lot of money he's got some rea

here's the president talking about you, lee >> good. >> i don't know leon cooperman, but whoever leonim, he can have his own view but in the meantime, i'm making him rich and i'm making a lot of other people rich. everything about our economy is just about the best it's ever been >> lee, did the president lie there? does he know who you are >> well, look, i'm not a major guy. i'm a little guy he did meet with me. i did have dinner in the white house with him through the offices of a good mutual friend, but he has a lot of things on his mind so he might not remember but we did have dinner in july of 2017 in the white house there was about ten people at the dinner and the president and it was an interesting, good dinner but i don't think he lied. you know, how many meetings does he have? >> sure. >> you can find a lot of things to criticize about him, but not about that >> far enough, lee let's move on. bloomberg, you remember going to say, why would you support him >> i'm not a registered democrat, you've got to understand that. i'm an independent i tend to vote the person and the issu

>> so leon cooperman -- first of all i respect leon cooperman he's a lightning rod but he didn't grow up with a silver spoon in his mouth. he's self--made. had a fantastic career and got wealthy. i don't fault him for his success. he's interjected himself into a very contentious debate in america about whether it's okay to have a wealth gap between the richest of americans and least well off of americans and what he's done -- i don't believe -- you don't get to a spot like leon cooperman without having a thick skin but i'm not sure his skin is thick enough to endure criticisms and vilification he's gotten because he's weighed into that discussion. >> i don't know for the debate is that there should or should not be this wealth divide. it's,000 solve that wealth divide >> he's targeting specific policies and one person in particular and that's elizabeth warren and that's the lightning rod that got him burned. >> she will say she made him cry on cnbc. she will seize on that even if that's not where he was going. he says he believes in paying more for tax but this isn't it to what dom is

leon cooperman's full letter to warren is on cnbc.com and you don't want to miss lee cooperman on thet" on monday at noon eastern time. >>> let's get straight to kayla tausche. >> well, telly, there was a principals call. said that the two sides reached consensus on principles. it said the two sides discussed the next consultation arrangements from china's side, the call was notably conducted by hard liners from the ministry of commerce, the central bank, as well as from the reform commission we're also getting a statement from the u.s. side from the office of the u.s. trade representative who simply said that the call made progress in a variety of areas and that the two sides are in the process of resolving outstanding issues. so a little bit of a difference in language here the u.s. tr statement says discussions will continue at the deputy level and calls today's call constructive. kelly, the news we still don't have is where exactly that meeting between president trump and president xi will be held. as recently as yesterday, president trump said they are on track to sign this phase

i mean, this is -- this -- this endorsement by leon cooperman and maybe down the road, there will bereet people coming saying we will back bloomberg just goes right into elizabeth warren's hands this plays in her hands every single time. >> does bloomberg take more wind out of the sails of joe biden? >> it does i think that's the big problem and what wall street worries about is that you get into a competitive primary with bloomberg syphons votes from biden, perhaps someone like pete buttigieg who people on wall street like too, and puts those votes in the pockets of warren, sanders. then bloomberg has essentially destroyed what these people want, which is something other than warren. >> it gives an advantage to warren the finance people's worst nightmare. i mean, that's all the kind of thought process of where this could be headed for mike bloomberg and the democratic party if he does eventually end up in this race. >> good to see you >>> leon cooperman will appear today on the closing bell in an exclusive interview at 4:00 p.m. eastern. he will discuss his support of mr. bloomberg'

leon cooperman, this investor, billionaire guy said this.uoted back in september you don't make for people rich by making rich people poor. the democratic party is leaning towards the left on policy which is harmful for the economy. i don't like the shift to the left and many on wall street are saying we are not going to back these guys, they have gone too far. even if the substance of their message is right the messenger is important. i imagine elizabeth warren is loving it every time one of these wall street folks comes out with this message against her because even though the fact is a lot of her policies will require raising taxes on the middle class to pay for them, will have negative economic consequences one of the things she has going for her is this populist message. americans don't think wall street is working for them, they don't think big business is looking out for them to the populist message she has when it is reinforced is helping her out. >> reporter: getting attacked by wall street at rich people gives her street credit for

morgan and others like buffet and leon cooperman are holding up the drawbridge the castle is being closed everyone who is not a billionaire right now is going to be left into the no man's land and are going to be fighting for every scrap of food you can possibly get the oligarchs and it started with 911 this culminating in the air 2020 are calling up the drawbridge and leaving everyone else out there who's not a billionaire to fight amongst themselves for the remaining crumbs and cans of soup of course a lot of people are blaming this exact movement j.p. morgan for causing the turmoil in the repo market so that is one thing that can happen is j.p. morgan is the way all they were the london whale there the american whale there the whale in hong kong they're the whale everywhere around the world so if they pull liquidity from the market as they have a huge cash piles well they could cause everything to crash if they are the market essentially i know you have in the past have been the market and it's a bad place to be right well look in j.p. morgan again proving the point and just so it's no

leon cooperman, this investor -- this billionaire guy, he basically said this, back in september, "you make poor people rich by making rich people poor, the democratic party seems to be leaning toward the left on policy, which is very harmful for the economy. i don't like the shift to the left" peered he and many on wall street are saying we are not going to back these guys, we think they have gone too far and it will be good for the u.s. economy. >> even if the substance of their message is right, the messenger is important. i have to imagine elizabeth warren is loving it. every time one of these wall street folks comes out with this message against her. because even though the fact of the matter is a lot of her policies are going to require raising taxes on the middle class in order to pay for them, will potentially have very negative economic consequences. one of the things she has going for her is she has this populist message. americans don't think wall street is working for them, they don't think big businesses looking out for them, so the populist message she has, every time it

the add takes aim at leon cooperman, lloyd blank bien and peter teal among others. take a look. >> it is time for a wealth tax in america i've heard there are some billionaires that don't support this plan. >> the vilification of billionaires is bull saying he is screwing around with the wrong guy other leaders jamie dimon have also criticized warren cooperman will have a chance to respond today on the half time report at noon the latest on tit for tat between billionaires and kennedy. >> cooperman discussing his love for the country. this is perhaps stoking an emotion of a different kind. >> still on deck, the wall street journal out with the 2019 airport rankings what cities were the top what were the bottom you may want to look anywhere but around this area 275 million are how many people shop in a walmart store on or in an ee con mers platform every week e ocd t to love the company an thstk. stick around high protein. low sugar. tastes great! high protein. low sugar. so good! high protein. low sugar. mmmm, birthday cake! pure protein. the best combination for ev

spend it because it's just it's just sitting there doing nothing or buffett is bored you know leon cooperman is bored you know when you play monopoly if you own a certain the number of properties there's nothing to do except wait for everyone else to go bankrupt so they're just warren buffett or linux overmen they're just sitting in their office they're just collecting all the rent they're around ca's there and they don't build anything they don't invent anything they don't add anything to the economy they're just wrong t.a.'s they're oligarchs they're kleptocrats and they're bored they're just waiting for everyone else to go bankrupt that's the only thing that's that's the only play left in the global monopoly game of which america is the boardwalk and park place certainly berkshire hathaway has missed out the stock market's on its here tear i saw somebody i think it was josh brown somebody in the investment community here in new york was saying like this is one of the most hated ever all time highs they've ever seen usually there's giant euphoria we've seen it many times people are ecstati

. >> thank you despite recession fears swirling, billionaire investor leon cooperman said he's not worried about the market at all time highs >> the only place i saw euphoyea was the ipo market that's been corrected. >> is it safe to buy at these record highs let's bring in jack and hugh johnson. what do you think about what he said are we fairly valuevalued? >> yeah, i would say we're pretty fairly valued we're starting to see a little rotation into sort of the outer favor areas. based on the earnings, valuations are -- i will absolutely agree with lee and say they are full. would you be concerned as he might get a bit bothered about the market at that point # i think we're about 2% above the averages for the quarter i think he hit the nail on the head when he said it's not widespread i'll call it optimism. you don't have the levels of optimism that ordinarily characterize the end of a bull market believe me, if we had a significant move, the so called melt up in stock prices, we had a speculative surge and we got a big increase in optimism and became euphoria then i would say we're proba

. >> it's warren's latest shot at her war of words with leon cooperman.e joined halftime report earlier today. he respopnded by highlighting hs film he did double down on his prediction the market would drop more than 25% if warren head to the oval office and said if this lady wins, we're in big trouble. welcome to the show. bryan schwartz she went after four different billionaires >> that's right. it's the latest salvo. this is going to be war. some of them on wall street, some of them not it seems every time she puts out an ad, a tweet, many of them feel like they have to respond there are others on wall street who are trying to say the these guys, don't go there because you're playing right into her hands. clearly they're not -- they will keep responding in kiebnd as we talk today >> you think the ad is effective. she has come out and said business should not be afraid of a warren prez den sidency. do you believe that? >> i don't i think it's effective as a political tool on the substance i think it's deceptive and disingenious. this really energizes t

in 15 minutes, don't miss leon cooperman on the halftime report today at noon.ing his opinions urat's coming up in the next n't go anywhere. we're back after a quick break >>> welcome back to "squawk alley. abolishing political ads on social media that's not the issue the federal election commission is interested in. micro targeting is where real problems lie federal election commission chair ellen wine traub joins us now. in terms of this, what are they targeting and what is the problem? >> micro targeting is when you get an individual ad in your feed designed based on all of the analytics that platforms have available that they gathered about you that allows advertisers to target the ad to your exact susceptibilities. the problem is that it is the equivalent of somebody whispering in the ear of voters a slightly different message targeted for them, there's no audience, no one there to counteder act the message if something is wrong with it or if there's another point of view. what we want under first amendment is to inspire the most robust debate, wide open ro

an item being real the stock is down by 6%. >>> the battle of the billionaires continues after leon coopermanas brought to tears yesterday on cnbc. cooperman was and has been very critical of elizabeth warren's proposed wealth tax. warren is not backing down robert frank has all the back and forth for us hire and it continues. >> not backing down at all doubling down now after lee cooperman said i care. warren tweeting last night one thing i know he cares about, his fortune. adding that leon is a share holder in on a abusive student loan company the war of words over wealth continuing today with other ceos saying the wealthy should not be ridiculed. >> i don't like vilifying anybody. i think we should applaud success for people >> america is not creating equal opportunity but that it's quote terrible to demonize the other side and that billionaires earn their success by creating something of value >> most billionaires have not worked to become billionaires. what they did is they produced things that people wanted. i didn't try to make, i fell in love with the markets and i made the market dif

on our air just yesterday, leon cooperman was on, that certain politicians want to see wealthy people certain wealthy people feel they're deserving of the success that they have earned themselves where do you stand in that debate >> i guess i stand somewhere in the middle i think that i know a lot of people who have done extraordinarily well and i think they've worked very hard for their success and they deserve it at the same time, if i look at the u.s. tax system as it relates to individuals, warren buffett has been the one that's talked about this very eloquently it doesn't make sense that he has a higher marginal tax rate than his assistant so i think i feel more in his camp that those who can pay more should but i don't think that you should be penalizing people for success. i think that's the wrong signal to send. i think that's the opposite of everything that america has stood for. >> jamie dimon, of course, chairman of the board you sit on here at jpmorgan said that the american dream is alive but fraying. do you agree with that and can it be saved in the near future >> i woul

coming up, you heard all about leon cooperman's war of words with elizabeth warren but we'll tell you to say about the markets. plus there's one company that just raked in the biggest cash pile ever. we'll tell you what it is. much more "fast money" coming up next ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ don't get mad. get e*trade, dawg. >>> welcome back to "fast money," the major indices all hitting record highs bun billionaire investor says they could be in trouble in 2020 >> do i think the election is very important and if we tilt to the left, it's going to be a very big negative for the stock market, it will be a negative for multiples and profits. i think elizabeth warren is a hater, basically she wants to do something damage to business and damage to wealthy people she seems to resent wealthy people bernie sanders the same and i see it differently >> cooperman has been in a war of words with elizabeth warren over her proposed wealth tax we did ask him about that and the overall political divide in america. at times cooperman got emotional, including during this exchange >> people cannot only see t

a lot of tax revenue in that state obviously comes from people who work on wall street like leon coopermanmen vilifying the wealthy as he describes it and is that wrong? >> i ran a city during the recession. it was in a massive crisis and we had to figure out a way to solve our budget woes but also grow out of the problem. so we had to do things very business minded. how do i start more entrepreneurs here? how do i attract businesses to my city? also how do i meet urgent needs? it was finding that balance. >> and you've worked with people like mark zuckerberg, oprah winfrey, both billionaires. >> leon cooperman. this is my point. we are in a nation that has a tax system that does not reflect our values. things like carried interest are just wrong. and i have different ways of going about it than elizabeth warren which we have just taxes. this is something i also believe. if you and i were in my neighborhood doing this interview and i walked you around and took you to black entrepreneurs, women we started in business, they'll tell you, i want to be a millionaire. so we need to be the party

i don't know leon cooperman, but whoever he is, i know of him, he can have his own view but in the meantime i am making him rich and a lot of other people including the working man and woman. they have never done so well as they have done right now. the jobs of the best i have ever been. everything about our economy is about the best it has ever been including unemployment. i think in light of all of the things going on. you know what i mean, the fake news, the comeys of the world, all of the bad things that went on. it is called a swamp. you know what i did? a big favor, i caught the -- i caught them all. let's see what happens. nobody else could have done that but me. i caught all of this corruption that was going on and nobody else would have done it. on top of that, we have the best economy, greatest economy we have ever had, best job numbers, african americans, asian americans, hispanics, the best ever. we have done a great job. tell leon, who i have seen but don't know, tell him congratulations. he did well with trump. [speaking simultaneously] >> [indiscernible] pres. trump: we are d

i don't know leon cooperman, but whoever leon cooperman is -- i know of him, he can have his own viewin the meantime i'm making him rich and i'm making a lot of other people rich, including the working man and woman. they've never done so well as they've done right now. our jobs are the best they've ever been. everything about our economy is just about the best it's ever been, including unemployment. so i think in light of all of the things going on, and you know what i mean by that, the fake news, the comeys of the world, all of the bad things that went on, it's called the swamp. and you know what happened and you know what i did? a big favor. i caught the swamp. i caught them all. let's see what happens. nobody else could have done that but me. i caught all of this corruption that was going on and nobody else could have done it. on top of that, we have the best economy, greatest economy we've ever had, the best job numbers we've ever had, african-american, asian-american, hispanic, the best ever. so i think we've done a great job. and tell leon, who i've seen but i don't know, tell

. >> the war of words between leon cooperman.s family office now. and elizabeth warren, the presidential candidate in a letter obtained by cnbc, the hedge fund titan writes quote for you to suggest capitalism is a dirty word and that these people as a group are ingrates who didn't earn their riches through strenuous effort and paradigm shifting insights and now don't pull their weight societily indicates you are either grossly uninformed or knowingly warping the facts for political gain that's actually an interesting letter he writes well, leon i will give him that. >> yes, he does. i think some of these arguments would be more powerful if they were not being made by billionaires so i will say i'm not a billionaire and i am opposed to the wealth tax i think it raises all kinds of issues i don't think you actually have to go to the question of whether billionaires deserve to be rich. i mean, that's -- nobody's going to win that argument partly because, look, there are billionaires i think would agree they deserve to be rich. and t

i do not know leon cooper man, but whoever leon cooperman is, i know of him. he can have his own view. in the meantime, i making him rich and i'm making a lot of other people rich, including the working man and woman. they have never done so well as they have done right now. our job's are the best ever been. everything about our economy is just about the best it is ever been. , iluding unemployment so think in light of all of the things going on, and you know what i mean by that, the fake news, the commies of the world. all the bad things. that went on. it is called the swat. and you know what happens and you know what i did. a big favor. i caught the swamp. i caught them all. let's see what happens. nobody else could have done that by me. i caught all of this corruption going on. nobody else could have done it. on top of that, we have the best economy, greatest economy we have ever had. the best job numbers we have ever had. african-americans, asian americans. hispanic, the best ever. i think we have done a great job . and tell leon, who i've seen but i do no

. >> battle of the billionaires continues after leon cooperman was brought to tears yesterday on cnbc. cooperman was and has been very critical of elizabeth warren's proposed wealth tax. >> i don't knee elizabeth warren telling me thiem's a dead beat. and that billionaires are dead beats. the vilification of billionaires makes no sense to me. >> people cannot only see the emotion on your face but hear it in your voice when you talk about this, lee, why? >> i care. (laughter). >> trevor: are you crying? you are a billionaire who is crying because elizabeth warren is criticizing billionaires? would you like a tissue. get the bleep bleep out of here, man. are you serious right now? let me tell you something, the only time you should be crying as a billionaire is when a goat teaches you the mean of christmas, that is the only time. and mi disa int pooed in. this i'm not going to lie, because of all the things that ever made me want to become a billionaire. i want to become a billionaire because i thought the whl point of becoming a billionaire is you never have to give a shit about money

. >> this isn't the first time leon cooperman has criticized a presidential candidate there are otherillionaires out there being critical of warren as well. >> another has called warren's plans nuts his words. he was very critical of barack obama's tax policy before the 2012 election. >> the billionaires certainly a big focus for many of those candidates >>> when we come back, the latest on china's push to become the dominant player in 5g. a silver lining to an ugly year for u.s. steel later on, netflix goes to broadway called "the irishman" a very busy hour. we'll return right after this. ♪ there are things we would change about work. and there are things we wouldn't. ♪ when work is worth it. work is worth it. work can be closer to home... pay more... make us proud. careerbuilder. work can work. find your work at careerbuilder.com here, hello! starts with -hi!mple... how can i help? a data plan for everyone. everyone? everyone. let's send to everyone! [ camera clicking ] wifi up there? -ahhh. sure, why not? how'd he get out?! a camera might figure it out. that was easy! glad i could

stocks >>> and the backlash against billionaires, elizabeth warren launching a fiery ad targeting leon cooperman and other individuals. cooperman joins us to fire back. the investment committee is ready to go. "the halftime report" starts right now. >>> welcome. good to have you with us on this thursday our investment committee, joe tearerranov terranova. and the brothers and the walmart retailer beat and raise quarter, stock opening all-time high today. joe you've been making a cas for this one, you own it >> i do. >> and under review. all of the news, the good news is priced in i think walmart is trading a little disappointedly today. still own the stock, i'm going to see in the next couple of weeks to see if there's something i want to do a tremendous amount of positive news, they're separating themselves from the gap, the macy's, brick and mortar retail names, they're succeeding not only online, grocery has been very strong for them the ability to drive up and get the grocers. so, it was a great quarter, but i think the news is somewhat priced in. >> that's an interesting take because target

. >> thank you very much >> thank you >>> coming up, leon cooperman whether explain why he is supportingberg for president. if it's anything like his last experience on cnbc, you won't want to miss it. >>> i thaug ought we were taking break but we're going to the bond market. rick is more ready than i was. he's at the cme. >> it's been a big week and not only for the u.s. but globally right now we're at 14 week high closing yields in tens and 30s add a couple of weeks for 16 weeks. there are fewer negatives. that drop is a positive economic development. germany had their gdp read this coming thursday they are flirting with recession nar numbers. some of the bang indices are doing better higher global yields can back and jump start that economy. maybe that's what the markets are pricey in. melissa, back to you >> thank you >>> coming up on the tasting menu, gap ceo walks out. e lon musk lashes out. we have all those stories straight ahead some farms grow food. this one grows fuel. ♪ exxonmobil is growing algae for biofuels. that could one day power planes, propel ships, and fuel trucks...

warren out with a new campaign ad targeting billionaires and featuring names familiar to cnbc leon coopermane report" earlier with his reaction >> i tried to stay on this high road if you keep up with this baloney i may be forced to go to the low road i have no problem to pay higher tax. you want to move me to 50% from 37% that's fine. i'll pay whatever taxes are asked of me and i'll do what i have to do but your attacks are directed to the wrong person, and on the wrong issues >> former goldman sachs ceo tweeting surprised to be featured in senator warren's campaign ad given the severe critics she had out there. not my candidates but we align in many issues vilification of people as a member of a group may be good for her campaign not the country. maybe try balancism is just in her dna. i get the point he's make. there is sort of this notion of class warfare that's to be had in the rhetoric. not too sure i feel about that last line about try balancism. a little bit below the belt speaking of low roads. >> it's always lloyd's attempt at witiness which he usually hits pretty well the point, i

ashley: we want to he get your reaction if we can with a war of words between leon cooperman and senator wealth tax proposal. mr. p cooperman in a letter obtained by another network responded to a tweet by warren, saying he should pitch in a bit more to allow other people to have a shot at achieving the american dream l. cooperman writing this, however much it resonates with your base, thevill the phi vilificate rich is misleading. i think mr. cooperman has a point here. the rich pay a tremendous amount of tax to keep this country moving along and all the social programs. >> you know what's really interesting, and i haven't read the letter, but what's really interesting is that if you pars through the back and forth, the common element between the two othem,they're both talking about opportunity. mr. cooperman was talking about the opportunity he was given, including through public education. senator was talking about expanding opportunity. what would benefit the country both is if they came together and talked about how to best expand the opportunity. it's about job creation. opportunit

he gave them $25 million i think leon cooperman is the wrong target for this.ying to do but politically it is complicated. the question is to what effect by evidence of the email i was getting from people on her base on her side in this instance >> it is easy to character a guy like him who says i am willing to pay more. i believe we do have a progressive system and it should be more and here is how we should do it and no one wants to talk about it. >> i think he wants the system to pay more. he believes he's paying about 50% right now. i don't think he wants to personally pay more. >> his point was can we do it without the government bloating itself and controlling it. character how you say it that's how you say it. >> one of the greatest ch characters our guest host at the top of the hour, kara swisher we'll talk about twitter's new ad rules and her big interview with eric snowden when we return >> announcer: we have final predictions coming up. "squawk box" will be right back. ♪ there are things we would change about work. and there are things we wouldn't. ♪

we'll leave it there >> thank you >>> and coming up in a few minutes, leon cooperman, his response to warren's ad on the halftime report. we're ckn montba ia me - [spokesman] if you've tried college but never finished, (group cheering) snhu lets you transfer up to 90 credits toward you bachelor's degree. - [woman] it doesn't matter how old you are, you can do it, you can finish. - [spokesman] finish your degree at snhu.edu is >>> i am scott wapner. top of the hour. cooperman responds to elizabeth warren's wealth tax ad in which he is called out again and three big dow winners, hitting new highs. can they climb higher. and john and pete with unusual activity about 15 away. >> sounds good, scott. looking forward to it. >>> up next, despite new sales records, jack ma says singles day performance was below his wel exctio 'ltell you why dow down 75 now. the moth withou, struggles in the spider's web. with every attempt to free itself, it only becomes more entangled. unaware that an exhilarating escape is just within reach. defy the laws of human nature. at the season of audi sales event. ♪

. >> now one of the billionaires warren is talking about is leon cooperman.her economic proposals and laying out his opposition in detail. it's nice to have you on the program. senator warren, i wanted to give you chance, today she came out clear tlak aboly talking about perhaps mr. dimond. so sad they might have to pay two cents out of their bazillion dollars. here's the thing they have to work hard. >> that's not the point. i think she's a politician in the worse sense of the word. what i mean by that is more poor people than rich people so she's trying to appeal to the larger group. the reality is what is the purpose of vilifying successful people that have done well for society. i don't get it. she can say that wealthy people should pay more in tackxes. i agree with that. i believe in the progressive income tax structure. i believe rich people should pay more. we have to colease around the nation what should the maximum tax be on woealthy people. why she criticizes wealthy is for political gain. he's a friend so i know his story. bernie marcus was termina

with bill gates, pay 20 billion, 10 billion in taxes but don't want to pay a hundred billion, leon cooperman and a lot of people, we do a lot of good, i give a lot to philanthropy. paul tudor jones, comes out, the somebody like elizabeth warren gets elected, the market will crash, bloomberg carried to the next level. i'm wondering in the case of wall street whether it's a jump ball for them because you would have, you know, a business guy coming in for a business guy? if for example -- >> they would like him to run obviously. couple things we should just, little reality check here. mike bloomberg galvanizes the progressive left. there is no doubt. he is a billionaire. he is a wall street guy. this could help elizabeth warren. a lot of democratic party leaders including chuck schumer. last night -- neil: opposite effect. >> chuck schumer intimated at a fund-raiser. the second thing is biden's people. they have not thrown in the towel just yet, what they tell me, i spoke to several this morning, mike bloomberg does not have deep inroads into the african-american community. quite the opposite,

. >> leon cooperman, by the way, responding today he'll be live on the halftime report all we do on this show is promote interviews coming up. >> what can i say? do you think walt disney doesn't do it my friend adam schemp. we're not alone. >> le-on-was on last week. she respopdz, she is using this, the warren campaign as they see an as effective tool to get their message across it doesn't stop, jim i try to have lunches as often as i can with ceos you do, too. >> yes. >> senior managements, head funds and warren comes up often. the first question, does she have a chance? could she really win a lot of these people frankly don't want to vote for donald trump, i will say it right now they're not interested in that but they're looking for an alternative, they're very much middle of the road business people they can't see themselves ever voting for elizabeth warren and you turn to this conversation about the wealth tax could it ever really happen and what would actually happen if she did gain the presidency, what in her agenda would she be able to pass it's front and center all the time in t

i don't know leon cooperman but whoever leon cooperman is, i know of him he can have his own view.ng a lot of other people rich, including working men and will. they have never done so well as they have done right now. our jobs are the best they have ever been. everything about our economy is just about the best it has ever been. including unemployment. so, i think in light of all of the things going on, you know what i mean by that, the fake news, the comeys of the world, all of the bad things, that went on, it is called the swamp. you know what happened? you know what i did? a big favor. i caught the swamp. i caught them all. let's see what happens. nobody else could have done that but me. i caught all of this corruption that was going on and nobody else could have done it. on top of that we have the best economy, greatest economy we've ever had. the best job numbers we ever had, african-american, asian-american, hispanic, the best ever. i think we've done a great job. and tell leon, who i have seen, but i don't know, tell him congratulations he did very well with trump. reporter

billionaire leon cooperman said he would black boom berg if he keeps his moderate policies.arren responding to cooperman throwing his support behind bloomberg on twitter saying this, the wealthy and well-connected will always have each other's backs. we're building a movement to change that we're building a movement for big structural change. another billionaire on the ticket, bloomberg entering the race would not hurt him. he thinks it hurts joe biden. >> i think he is going to hurt biden actually but he doesn't have the magic to do well. little michael will fail. he will spend a lot of money. he has got some really big issues. he has some personal problems. he has got a lot of other problems but i know michael bloomberg fairly well. there is nobody i would rather run finance than little michael. that i can tell you. reporter: progressives elizabeth warren and bernie sanders are worried about bloomberg's $50 billion in net worth, accusing him trying to make up for late entry into the field and lost time on the campaign trail with money. warren warning voters that bloomberg

leon cooperman saying let's not forget that i generate and have generated a good deal of philanthropy and activities. others talk about others. created whole industries that have hired thousands, hundreds of thousands over the years. that's their pitch and they are getting annoyed that somehow they are hanging on ill-gotten gains. what do you think? >> certainly i think a lot of the ultra wesley are definitely nervous -- ultra-wealthy and a little bit peeved at elizabeth n and bernie sanders plans to taxe rates they are proposing. one of the big challenges for michael bloomberg is that he hasn't been campaigning in the states like the other candidat candidates. there was a marked poll and i welcome among iowa democratic caucus goers and that found that michael bloomberg had a negative 11% approval rating. so he's going to have a challenge, even though he does have the resources. appealing to these early-stage voters which ultimately do decide a lot of the direction of the primary after states start voting. there's also concerned about whether he will be able to amass the number of pol

we cannot afford to lose against president trump. >> leon cooperman ecstatic about that. >> lee is myeeks ago bloomberg 2020.org and 220,000 visitors that site over the last 48 hours. so if he is running and can figure out a way to get through the jigsaw puzzle of the far left and he wins the nomination, i think he can beat donald trump. >> there's a response to this we've heard from senator warren echoed by senator sanders as well which is this isn't that big a deal. we're paying too much attention to what wall street thinks of this. i think it was george soris that said there are more -- than there are wall streets. >> right. we have to have this conversation in multiple levels because there's some people who are hiding line sort of elizabeth warren's policies and they'll never vote for her because she's a woman. point blank. we have another section of the party where they have said they're not going to vote for her. she's too far to the left. she wants to remake the entire system and we just want to sort of go back to the good ol days. so he's clearly run some polling to see, well,

their decades old firms returning capital to investors and/or converting to family offices like leon cooperman david tepper and john paulson are thinking about similar moves, scott. >> i'm quoting from the letter and wanted your input on this. it speaks to the conditions that have existed and been so difficult for some in the business depending on what kind of funds you're actually managing he says challenging trading conditions and muted returns for our macro multimanager funds of late masks a vibrant success at moore and our long/short equity platform and real estate and specialty lending businesses you can obviously see where the strength has been and where the weakness has been for some of these managers over the last few years. >> oh, absolutely. there's been a huge bifurcation between private equity, real as celts and then managers who are operating kind of these more traditional hedge fund models. just new numbers out from e-vestment saying macro has been one of the most challenged with $23 billion worth of outflows year to date which is remarkable long/short equity has struggled as wel

when you see leon cooperman, that elizabeth warren doesn't know what she is talk abouting i will go torested in her campaign. melissa: is she a populist? to my mind she is a socialist. wants a government power grab. populists don't want to grow the size of government. she seizes money from everyone and she doles out things like health care and whatever else as she sees fit? >> right. actually this is one of the great ironies of people who are socialists like her although she doesn't like the label. reality is, that this is someone who says look at these disgusting concentrations of power, they're ruining your life. the answer is a massive concentration of power. in the government that leads to deep corruption. that is what elizabeth warren wants to create. melissa: she wants all the power and all the money for herself. vince, stick around for this one. as if the democratic field was not big enough, one more candidate with ties to wall street, whoo-hoo, is jumping into the white house race. hillary vaughn on capitol hill with the details. reporter: deval patrick is the freshest face in

. >>> welcome back to power lunch, elizabeth warren continues to butt heads with billionaires leon coopermanounding off for vilifying wealthy people why this tax may not work like politicians hope it will >> we all agree that we need a better infrastructure for our country. we all agree that we want more into our educational system. we want more with people for opportunity. there's nobody even the wealthiest person in america doesn't think that's a bad idea i think the bad idea comes in when you start to create this line in the sand when you start to decide who's going to get tax and who's not. >> today the line's at -- if you have $50 billion or $5 billion tomorrow it's going to be a million. at the end of the day, myself and other people that have had hard work and callous on our hands, don't want to be told how to reinvest into the marketplace. >> now warren is fighting back against those billionaires robert frank is here with the latest >> it is the daily back and forth now. it just gets better, the push back from billionaires and ceo's is music to warren's ears. the fact that they've re

and she names billionaire titans like leon cooperman and lloyd blankfein. a wealth tax makes no sense. it will lead to unnatural acts, be impossible to police, and it's probably unconstitutional. if this lady wins, we're in big trouble. >> blankfein trolled back, tweeting, vilification of members of a group may be good for her campaign, not the ton. maybe tribalism is in her dna. this feud with the billionaires has been bubbling for weeks. cooperman was reduced to tears on cnbc, tears, saying she was attacking capitalism and the american way of life. warren wears this criticism like a badge of honor. and her campaign has started selling the billionaire tears mug. it is now the fastest-selling item on the campaign website, guys. >> it makes me wonder, while the mug is selling fast, how many actual voters are watching this play out on cnbc, as they're watching the market go up and down during the day. >> it feels like it's fodder for her supporters and her rallies, frankly. she talks about this again and again. and every time a billionaire hits her back, she

. >> so, look, i spoke to billionaire investor leon cooperman as you're well aware he has been sort ofwar of words with elizabeth warren and they've -- he's written her a long letter and spoken out about him. here is what he said last night. >> i think she's a politician in the worst sense of the word. okay. and what i mean by that is more poor people than rich people so these trying to appeal to the larger group. but the reality is what is the purpose of vilifying successful people that have done well for society? i don't get it. >> is that what this is about? is that what democrats are doing? pandering to people? vilifying others? >> no, not at all. look, what elizabeth warren is trying to do and what others are trying to do is find a way where we can come up with a resources to invest in the country and in education in a way that will help grow incomes for every american not the folks at the very top. the trump tax giveaway ended up benefiting disproportionately people at the very, very top, while it added $2 trillion to our deficit. so what you see are a series of proposals to addr

the war of words between senator warren and billionaire investor leon cooperman continues cooperman responding on the halftime report to warren's wealth tax ad campaign that aired on our network this morning, cooperman claiming the tax makes no sense and may even not be constitutional cooperman did say he's willing to work with is that right warren on the wealth tax plan although he wants to be done with politics at this point robert, seems more logical to start with you you do deal with the world of wealth and billionaires. what exactly do cooperman and warren have right or wrong about this scenario? >> we're in a very interesting political environment. there's this famous line from fdr where he said i'm proud to be judged by my enemies and he got elected that year basically because his enemies were the big utilities that the rest of america hated. and elizabeth warren has found a pert villain and foil in this election of billionaires who are complaining about the wealth tax but because they're being taken out of context, can be seen by the rest of the public as playing victims or whine iing

wealthy this time targeting four successful billionaires in the new ad that includes money manager leon cooperman, td ameritrade founder, former goldman sachs ceo lloyd blankfein and a venture capitalist. they have all denounced warren and her wealth tax plan. here's how billionaire mark cuban responded on mornings with maria earlier. listen. >> i did the math and her 6% wealth tax would cost -- would require me to pay more after the first year and a half than i have in cash. and so i sent an e-mail to one of the economists and i said look, did you guys do -- take into consideration liquidity when you defined your wealth tax? >> that's a good question. >> they said no. david: the question is will voters do the math? will the voters decide the wealth tax hasn't been well thought out? >> i sure hope so. this is a vilification of people who are successful and have achieved the american dream. the idea that somehow people have succeeded in america, like a mark cuban or bill gates or any of these people are villains, i find that so anti-american. i hope so passionately david that the american people d

whoever leon cooperman is, i know of him, he can have his own view, but in the meantime, i'm making himng a lot of other people rich, including the working man and woman. they've never done so well as they've done right now. our jobs are the best they've ever been. everything about our economy is just about the best it's ever been, including unemployment. so i think in light of all of the things going on, and you know what i mean by that, the fake news, the comeys of the world, all of the bad things that went on, it's called the swamp. and you know what happened and you know what i did? the a big favor. i caught the swamp. i caught them all. let's see what happens. nobody else could have done that but me. i caught all of this corruption that was going on and nobody else could have done it. on top of that, we have the best economy, greatest economy we've ever had, the best job numbers we've ever had. african-americans, asian americans, hispanic, the best ever. so i think we've done a great job. and tell leon, who i've seen, but i don't know, tell him congratulations because he did very w