ron baron is here. this is your party and we're going to come back with the leader of the party after. thi this we should mention tesla shares dropped 5% yesterday after the hsbc analyst call initiating coverage with $146 price target. calling an expensive auto company. i imagine ron has lots of views about. that we get the counterpoint live from the annual baron investmenten cter conference this is live on cnbc >> announcer: this cnbc program is sponsored by truist securities at ameriprise financial, our advice is personalized, based on your goals, whatever they may be. all that planning has paid off. looks like you can make this work. we can make this work. and the feeling of confidence that comes from our advice? i can make this work. that seems to be universal. i can make this work. i can make this work. no wonder more than 9 out of 10 clients are likely to recommend us. because advice worth listening to is advice worth talking about. ameriprise financial. (swords clashing) -had enough? -no... arthr

i'm live at the 30th annual baron investment conference at lincoln center we will have ron baron on in will join us and we will talk to him about so many things, including tesla. there is a -- is this true the firstsighting in new york? can i say that the truck. the truck. the cyber truck in n

the nasdaq -- all three ending at their highest level tesla shares bouncing after the investor ron baroneryone after china announced its own electronic sedan which they say it will rival model x. >>> truelieve -- joining us to discuss is ceo kim rivers. great for -- thank you so much for joining us it's great to see you. in terms of we had cannabis on the ballot in ohio, it passed, i'm wondering what that means for you as a major florida player if it does help the industry overall. >> absolutely. any time we have overwhelming passage, 58% in ohio was great we actually are in ohio as well, so it's good to add another potential adult use state on the map for using but florida's the biggest story, the biggest catalyst for the industry. that market poised to move to a $6 billion market if adult use is on the ballot. >> what are the financials you have been buying back debt to release the debt burden are you planning to use free cash flow to do that because you have outstanding debt of course. >> we had debt that was coming due next year and decided to retire that as well as proactively take

i mean, you know, we got president biden -- now, david -- >> ron baron is an unrepentant bull >> i likeesla. >> in the past, he's said these outrageous things that ended up being pretty close to true >> in the rate environment that we were just talking about, right? >> well, i think that when we think about what the president's doing and how he's lined up with shawn fain, and he's talking about, i want fain to unionize tesla. that's an unusual posture for a president to take. >> it is, it is. >> he literally put on the uaw shirt. >> put on a shirt. doesn't seem to be helping him with the electorate at all not quite sure maybe you want to change your strategy there who knows? >> it seems the -- the guy wants to be the union president. i didn't think that he necessarily wanted to run a union. i think that shawn fain -- if president biden wanted to run the uaw while he's also president, fine. you know, the ford guys, when biden was on the picket line, they were shocked. they thought that biden came to try to negotiate a good deal they didn't realize that biden came to be able to walk the p

we were talking about how ron baron hasn't bought a bond his whole life >> for those who haven't, nowwhen we look at the potential in terms of return, if we have an environment where interest rates are starting to come down by midyear next year, that could be meaningful in terms of total return, not only from the yield, but total return as bond prices rally in that sort of environment. so we absolutely think there's opportunity in bonds, and if we have another year -- we could have another year where we get stocks and bonds moving in the same direction, but it would be the right direction in terms of having positive return certainly after the last several years where bonds have delivered an absolutely terrible return, that we think that creates opportunity here and certainly in this environment we're in as well, there are increased geopolitical risks and if we did see some kind of disruption because of that, we think that bonds would absolutely be protected in that environment, particularly treasury bonds. >> if rates stay low or go lower, brenda, why not just invest in the magnificen

>> ron baron never bought a bond. >> i've never bought a bond. >> can't you figure out something in the >> if you're that -- you need a night-light, if you go to bed every night you need to keep the lights on. >> there are some people who need fixed income. >> but you can get the return of your money, i guess, it's important, but when we see the dow go from 800 to 30 plus thousand -- >> and i will say buffett basically says the same thing. >> yeah, i agree. 5%, that's the best you're going to get is 5%, and then if rates continue to go up, you're not even going to get that unless you wait until the end. >> i think if you think about the growth area of your portfolio where you're really going to compound your wealth over time, that's absolutely going to be risk assets of which equities is the main one. >> but bonds are risky too. >> well, bonds have shown to have some higher volatility than we got used to there for 15 years or so. they still have less volatility than stocks do. >> a 30-year might not. >> and if you think about actually the role that bonds play, it's about income. it's no

i guess i'm thinking about ron baron who said he never bought a bond in his life if you think you areny good at all at picking stocks, it seems you can always find something in the stock market we have been in a bull market since 1980 we haven't been in a horrible period where bonds really would be better. tax-free bonds might make sense. mimi, give me 5% tax-free equities >> we are getting too much of the bond house here. an lot of municipal bonds. >> i hear mimi duff. you have to be a bond person your family has the big ratings. that is not you. >> no relation >> the only problem with that theory inaccurate thanks, mimi see you later. good luck. >>> when we come back, last-minute wine recommendations for your thanksgiving dinner. >>> and former united airlines ceo oscar munoz will join us as the storms threaten the eastern united states. we'll be right back. in a crisis caused by a terrorist massacre. warning civilians to clear out, while hamas forces them back. allowing in food and water, which hamas steals. [alarm clock ringing] (♪♪) [van engine] (♪♪) [card reader chimes] (♪♪) [in