square feet in gaming in macao so they have size and scale.nse i don't care if the term is ten years or 20 years. everybody thinks it's ten years, i'm fine with that in the meantime, las vegas, boston seeing very good results and they have a good liquidity position of 3.9 billion. >> let me ask you about ibm. how much has to go right for ibm this year to have the kind of return that you think it can to be part of something like our stock summit, of all of the again, the same question i asked jim, of all of the stocks in the universe that are out there and there are other so-called value tech names out there why this one >> because i like what the management is doing. they just need time to figure it out and they are they are in the process of restructuring and spinning off non-core assets and buying off a ton of companies in cloud, a.i. and quantum compute. even in block chain, by the way, and so as they sell these assets and they have this m and a, that will lead to better growth and that will lead to better margins and you have a mainframe r

check out the casinos heading higher on positive updates a new macao government around licensing rulesuoo at las vegas sands, up 12% to h. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. when traders tell us how to make thinkorswim® even better, we listen. like jack. he wanted a streamlined version he could access anywhere, no download necessary. and kim. she wanted to execute a pre-set trade strategy in seconds. so we gave 'em thinkorswim® web. because platforms this innovative aren't just made for traders -they're made by them. thinkorswim® by td ameritrade >>> golf has seen a surge in popularity in the pandemic you can do it outloors socially distance how are supply chain constraints shortening the efforts dom? >> thank you very much for that. david we appreciate you taking the time to join us today. maybe kelly has the intro pretty tight there. we know that golf is popular you guys are launching a new line of product just take

invested beyond what was required of them and they have the financial flexibility to keep investing in macaone deal. it still has to go to the legislature. it is confirmation that the process is moving forward as anticipated and gave some reassurance to some nervous nellys out there concerned about concession expiration in june and the possibility of non-renewal. the near term hurdle is trying to zero tolerance policy over covid and the way that is crimping visitation. >> you know who didn't get a boost from this news mgm which doesn't rely as heavily on gaining revenue mgm only got a half percent move today. it's late to the party better late than never you know who would rather be late than never, penn national >> you tied it all together. thank you. should you buy more shares of penn, mike >> it's interesting. if we're talk about what's going on, it's not a comp because they don't have any exposure there. the real trouble is taking a look at this chart. >> you buy a chart like that >> i'm with cocoa be ware on this one i think it has $38 written all over it. you can't look at valuation al

i know people may think it is crazy to think about macao casino openings, but if you think about theore immediate reopening trade, the cyclicals, the high-quality names, those have all run up, but there are covid laggards that people haven't taken into consideration. we like companies like las vegas sands and rolls-royce, which is geared toward long-haul international travel >> finally, what do you say about inflation? you know, does inflation -- can inflation peak and interest rates still keep going higher and reopening trades still work this year? >> to be honest, i'm not in the business of predicting inflation, to be honest. i don't know if it is going to be transitory, so we're going to focus on companies that have low expectations and are well placed or relatively well placed for an inflationary environment, but in the short term i am worried about labor costs and brand name sticking >> even the experts got it wrong on inflation this year, so your caution is warranted a final comment. as people look through the performance this year, we showed rk is down 13% from the peak there

i think post-omicron you will see a recovery in macao.ulations were much less severe last week and las vegas and boston are humming i like this one for 2022 >> all right farmer jim >> yeah, not tweaking my boy, joe, he knows i love him this goldman move is one of the biggest overreactions i have seen in a long time. are you supposed to step in and buy in >> a buyer, okay down 8.5%. that's interesting joe, you go next >> merck >> okay. josh brown >> berkshire hathaway, up 7% on the year while the s&p is down 4. that's not an accident 150 billion in cash. >> okay. >> if they can put it to work, it is a port in the storm. >> good stuff. thanks for watching it "the exchange" is now. ♪ >>> thank you, scott hi, everybody. welcome to "the exchange." i'm kelly evans. >>> take a look at the ten-year yield today. i'm going to say it is trying to make a drive towards the 2% mark 1.86, the high point of the session. regardless, it is the highest yield we have seen in two years and it is pushing the nasdaq back below a key technical level and almost 1