is this a ponzi scheme gives asian. it's all out war. the world's biggest names in auto they are taking on tesla. the newest competition in the electric car market. countdown is coming right back. ♪ predictable. the comfort in knowing where things are headed. because as we live longer... and markets continue to rise and fall... predictable is one thing you need in retirement to help protect what you've earned and ensure it lasts. introducing brighthouse financial. a new company established by metlife to specialize in annuities & life insurance. talk to your advisor about a brighter financial future. . . think has exposure to energyfund infrastructure mlps? think again. it's time to shake up your lineup. the alerian mlp etf can diversify your equity portfolio and add potential income. bring amlp into the game. before investing, consider the fund's investment objectives, risks, charges, and expenses. read the prospectus carefully at alpsfunds.com/amlp liz: breaking news. we have tesla now below $300 a share. a little bit of road rage. auto

i don't think is this is a ponzi scheme. here is what i do think. i do think mary bauer and general motors is woefully underrated relative to the performance and what she has brought to this industry. she took a hard line on quality. she stood tall and has raised the bar for the auto industry back to the consumer. consumer warrant with the ignition key and so forth. she is continuing to drive the reliability, the durability of the gm fleet. of course, bob had set the tone relative to design and aspirational gratification for the consumer. more than focusing on tesla, i think gm is woefully underrated. general motors and mary should get a lot more credit than they are getting today. i think bob makes an interesting point. if you any about what president trump is doing with cafe standards, i'm not sure the electric vehicle is going to give you the offsets that no longer will be required as a result of this phenomenal demand for suvs and trucks. the highest margin. if you look at fiat/chrysler, 90% of the operating profits come from jeep and the ram tr

a" ngntury ago, "out-ponzi ponzi."you with no risk. prof. lo: exactly. i think it highlights the fact that all of us, all investors are like moths drawn to a flame when it comes to something called the shark issue, you mentioned earlier. we all love expected return, we all hate risk, and when we find something that looks like it has lots of return and no risk, we flock to it, and it is dangerous. question.e one final one of our great founders of bloomberg lp, can we get monday jargon? francine is not here. is it the world that continues its functions like fischer black and myron scholes, what is it that everybody should be in? plus one,be in two two plus two, or should we go philosophical? prof. lo: i think a continuous world as an approximation of reality, and the digital reality, everything is discrete. so thinking about it from one point to the next is probably how humans naturally operate. tom: how hard was your first payroll? steve: very hard because it was about a decade before people internet.n the big companies

it's not a ponzi scheme. i mean, they're making cars.rs -- >> i don't know why you'd use that word. they're not selling to the next guy to pay them -- to pay for the last guy. >> no. if i can jump in line for my 1 24 thousand dollars for the model 3, that's a not me paying another guy and then taking the $1,000 -- >> they should change the word ponzi. at this point it's a madoff scheme. >> if they can make the cars, theoretically it's worth something. >> back to activism if i can, quickly. elliott connected to two different situations. one is the pressure they're trying to put on the one group to talk to ppg. this morning ppg spornresponds axon mobile. and what's the relationship between ppg and them? nothing. we melt with -- we met with a hundred of your shareholders including representatives from elliott, but there was no communication with any shareholders prior to making it public or you making it public and rejecting ppg's initial proposal on march 9th. no communications regarding our proposal as well. they have -- can we just stop?

jackson went on to say tesla is either one of the great ponzi schemes of all time or will eventuallyay off for investors feared he called tesla overvalued. ecology and undervalued. tesla shares can closer record $314 this week. this year they are up about 45% where gm and ford are both down about the fundamentals in perspective here, lester tesla's revenue was $7 billion in general motors is $167. lea: coming up in an exclusive interview, president donald trump's health care reform still his top priority. >> to health care is going to happen at some point. if it doesn't happen fast enough, i'll start the taxes. the tax reform and tax cuts are better if i can do health care first. lea: will ask ivan siegfried, gop strategist at the giuliani presidential campaign with the gop needs to do to get a health care bill signed into law. a look a u.s. stock market futures higher by 20. s&p higher by two. nasdaq higher by five and we've been seeing oil prices on the rise as well. here's a look at oil now. oil is higher by 29 cents at $53.60 a barrel. you are watching "fbn:am," your first look a

rosenthal: when the book came out, "wizard of lies," it would have focused more on the ponzi scheme and as we got , one son diedit of cancer, one son on himself. -- hung himself. and as you get further away, it's about this broken family. hurt a lot of people. he was quite despicable. hurt those who thought he was protecting. there's a moment in the film where mark says how do i trust myself, when the father who raised me, who taught me right from wrong, has lied about everything? you think about that and growing it really made for magnificent drama. megan: hbo was your partner and helped push to get that through, obviously hoping that it will get a larger audience than had you gone through more traditional -- ms. rosenthal: if we had gone through more traditional -- a, this is not a movie the major studios are making today. it would be considered a smaller moe. you would be doing this the independent film route, and that is a lot of work. and thispushing papers he isbo came in and terrific and really supported the project and its the first time that bob and michelle pfeiffer did a proj

the automation ceo said tesla is either the greatest ponzi scheme of all time. lay it on me, why are you so bullish on tesla? >> tesla is a really high conviction stock for us, top in the ark. our case with tesla is the auto industry is really undergoing two major transformations. it's moving towards electric and autonomous cars. tesla is a leader in both those areas. we think because of battery cost declines, there will be 70 million evs sold in the early 2020s. and tesla will have a good share of that market. on the autonomous side we think -- everyone considers tesla just an electric vehicle maker. but we think it could be a future autonomous taxi service provider. that taxi service market we see growing to roughly $10 trillion by the early 2030s. if tesla were to just maintain its share in evs and get a 5% share of the autonomous taxi space, we think that could add hundreds of billions of dollars to its market cap in the next five years. when people look at this stock and say it's overvalued, we think it's just started. >> give us the counterargument here. i

reformumentary on ponzi is titled a heart for teaching. take a look. i came up with a four step process. alledge push me past the thisn't point describe the classroom seen today let's be real here guys, -- it down -- nine what word told un? it is son ♪ continuing on with the story, [indiscernible] the one thing i think president and congress could do is to focus on our teachers. their preparation, development, their ensuring in classrooms they have the proper support systems to be successful. ♪ >> we are seeing lower numbers of young people wanting to become teachers. is probably ahere couple reasons for that. one is that it hasn't been an easy profession in recent years. with the recession, and lack of resources owing to schools. a lot of changing policies across the country. i think, without adequate support an opportunity for learning and growing, it is hard for somebody to want to stay in that environment. >> is the fact that a teacher walks into a school and doesn't feel supported. they don't feel like the administration is behind them, like they

tesla will either be one of the great ponzi schemes of all time or it will work out.e moment. is itti scheme, or is it going to work out? >> andrew, thanks for reminding me about that. i forgot i said that. i was asked about tesla's valuation versus gm. i said it's incomplicaexplicabl. i think general motors is far more than what the marketplace is putting on it. i think investors have underestimated how much general motors has changed and how this shift to trucks is structural and permanent and underpinning future profitability. and i'm not saying tesla -- they built a good brand, they build a good vehicle, but the valuation being higher than general motors is inexplicable. i threw in a few more inflammatory words, that can happen with me. i think the point is valid and we'll see. >>> mike, can you talk about tax reform, where you'd like to see things? >> well, for this economy to keep moving, there's two important steps, with you regulatory reform. i think that's under way, and that's been a huge encouragement to business already. you don't need congress to do it. p

but i have got to leave you with something right now, ceo head of autonation, he says tesla is ponzior it will pay off big time for investors. those are pretty strong words. neil: it generates enough money for elon musk to lawn of markets so -- launch rockets so he must be doing something right. elon musk with a bunch of of ceos gathered to meet with the president. this is something to consider talkg about eye-popping valuations, amazon worth twice as much as walmart. continue the theme of a lot of high-tech entrants just dwarfing the stock valuations of their more traditional brethren. what does alan knuckman make of that, market watcher, one of the smartest guys i know? alan, that is crazy reality here i guess owing to the times but what do you make of it? a lot of people worry about the markets how they have run up, today notwithstanding, since the trump election, that is the kind of stuff you worry about. do you? >> i'm not worried. markets are prices on potential often times. now can they meet those expectations? that is the big question but you're talking about old world compan

not a ponzi scheme. they make money legitimately. andrew: yes.table? probably not as profitable but they would probably be profitable. you also have to look at -- is there any fraud involved here? if their model is designed to deceive, if they have employees back stamping things in the mail, if computer glitches were more intentional -- david: did you find evidence of backdating? andrew: when you go online and you have former employees say -- have i gone to the employees and given them a polygraph test? no, i have not. there are many of them saying, i work for this company. this is the business model of the company. so they do still make money. where does it go? is there fraud there? jonathan: a quick question. -- is it worth $11? [laughter] andrew: we will see if it does, i'm writing it down. you are not going to win them all. some go up and some go down. a company trading at 20 times revenue is not necessarily the most ridiculous thing out there. i bought it and that is what happened. david: andrew left, always a good time. think you for being