so we haven't heard from david tepper.ing my chain about the bengals. he initiated this. >> because of the steelers. is he inviting you on board? >> he has offered me two tickets to go watch the game with the steelers. he's sending me two tickets. don't you think i should ask him for the 2015 forecast? >> yes. tell him if that's the case, you will root for the bengals and and help the steelers. >> could he be productive here? i would need four tickets anyway. >> check out his tie. >> that's santa isn't it? >> yes. what i didn't know is he wears one every day from thanksgiving on. a different santa tie. i'm impressed. >> it's not -- it's not good looking. it's ugly. >> do you have attractive ones? >> i have some nicer ones. >> but since you were going on tv you felt you should go with this one. >> i was sticking to the different tie every day thing. >> bottom of the barrel. >> exactly. i should have saved a good one for today. >> man, if you're going to go, go proud. i like it. go loud. >> thank you. >>> coming up, procrast

saying that tepper was not bullish. when you are forecasting 8% to 15% return while s&p 500 is sitting at new record highs that can't really be interpreted as not being bullish. he wanted to say this is where i stand on the markets right now. 8% to 10% in 2015. this is a great quote. it's not the time to be careful now. enjoy the ride but he also warned that investors should be aware and cautious about overvaluation in the market sometime in 2014. he says don't get too comfortable when the ride starts but it hasn't started yet. >> the headline that we reported was that he is comparing 2015 to 1999. >> if you take a look at what happened in 1999 he goes on to say the nasdaq was up 85%. yes, that was the year the markets reach overvaluation but it was a great year in the market in '99. >> i think whenever you take an interview and a smart guy like tepper and widdle it down it becomes -- he is comparing it to '99 which the automatic assumption is that is a bad thing. he was mostly talking about valuations when he talked ab

tepper says investors should join the ride but he does caution of overinflation. he compared 2015 to 1999 when the nasdaq did rise 8% to 10%. >>> coming up stay with us. we'll be back in a couple of minutes. investors from new york based capital are seeking the move since earnings have been postponed beyond the legal deadline pending a major corruption probe. under the terms of some foreign bonds, petrobras is expected to release third quarter results within 90 days of the quarter or december 29th. hedges are down more than 40% over the last three months since the investigation picked up and down 0.2% yesterday in trade. >>> gazprom has agreed to buy its partners out of the south korean pipeline project which was abandon by russia earlier this month. the companies announced on monday gazprom is required to hold a 5 50% stake in the pipeline 50% held by edf and shore. shares are down 2.35%, down a similar amount over the last three months. >>> happy birthday to lebron james. the basketball superstar turned 30 today, writing on his twitter page, he said the great th

joe, what do you make of what tepper's saying? >> there are some serious parallels to 98.ith him on that. and if there will be hiking next year, just as they did in '99. but remember, back in '99, the s&p was about 40. and that's certainly not the case now. and when the fed raised rates, they took rates to 6.5%. real rates were over 400 basis points. if the fed takes rates to 1% next year, real rates will still be about negative 100 basis points. so there are some similarities, but the economy and markets, they have a long way to run. this cycle is nowhere near being over yet. >> i think the point we mentioned here, after 1999 with a 19% gain, the stock market fell for three years. that's when he's talking about. he's not calling a top, but warning about overvaluation. and that instance, which took us down 25%. >> look, for the whole year, we have been bullish and overweight equities. we decided to go neutral within our portfolios at this point. forward-looking multiples are roughly about 16.5 times. we see gdp growth in 2015, roughly about 2.5%. and earnings growth, perha

today hedge fund giant david tepper made comparisons between 1999 and what 2015 could bring saying "for next year, you have to be aware of the possibility for some sort of overvaluation of the markets and they are fair value right now." now, remember in 1999 the s&p went to a 30 p/e, next year is now like 16, not going to get that high. so here we are, record highs and we asked ask tonight, is there still value in this market. tim, what do you say? >> i think there's value in certain sectors. i'm not sure what he said, frankly. and far be it from me to disagree. >> well, you're the em guy, you can see some of the similarities setting up, 1999, 1998. >> and david tepper makes $400 million before he turns the lights on every year so he's a very successful guy. but when you look at the market, i think if you look at commodities it's a value trap. i think you have to be careful, very interesting valuations. if you look at retail there's a lot of cases where people are looking at the retail sector and saying consumption growth will be supercharged next year with oil where it is. i think jour

david tepper says, yes.5 like 1999 when stock valuations were out of control and the details next with the hot list. stay tuned. >>> markets, markets, markets. that's what we've been focusing as the dow crossed that all-important 18,000 line. let's get a check and see if that's heating up the hot list with allen. >> it's all about the markets and our poor market writer kate gibson, about to fall down collapsing, exhausted with all the traffic she's been carrying for us for a few days. people obsessed about markets. two offshoots today. one how the dollar's been soaring right in line with the economy. that's been getting a lot of traffic. also, look at oil stocks. which ones are the winners in this oil meltdown you were talking about and tell zach, no, we don't have to resort to oil going to zero headline. why? sony. once again, sony is one of the big leaders right now. >> so mean. >> the fact that the interslew is now going back into theaters, sony re-caving and drawing reader interest there. that's the hot

david tepper is mostly playing with other people's money. most hedge fund managers are playing with limited partners money. >> but they do have their own money in the game. >> because they are forced to eat their own cooking. in the case of goldman sachs, and a reading from a bloomberg news, $106 million. of the total $483 million to beat up among the 121 employees 106 million with cash and 320 million was stock. some of the they cannot divest for several years. they are eating their own cooking. with that is true, they are reading goldman sachs is cooking. -- >> that is true, they are eating goldman sachs s's cooking. but in the case of david tepper, they have not put money into goldman sachs except what has come to them for years. even when it was a private partnership of until 1999 which is just the this past century, the closest entry to us now, they had to keep their equity capital in the firm as equity capital. >> no matter how this worked out, one thing that has absolutely happen this year is cooking, eating, there is less for the hed

mike, is david tepper right to be a little worried? >> sure. you are heading into year seven of a bull market. during that period of time you had a strong dollar. you had strong u.s. corporate profits. the u.s. economy was growing. a lot of the factors are mierred right now. i think there is a concern. the longer we go without a correction, the head winds from the rest of the world's economy slowing and stronger dollar will crimp corporate profits and expand pes quickly and the specter of the fed and what they are going to do and what degree the economy can digest higher interest rates. there are real questions. >> talking of how long it took to get us here, it took about seven months to get from 16,000 to 17,000 and then to 18,000. how long do you think it will take to get to 19,000? >> i think 2015 will be front end loaded. i think we will see 19,000 easily probably by the end of the first quarter. but unlike this year which was back end loaded you have to be careful. maybe the go away in may crowd will be right. >> why easily, chris? valueua

david tepper took a nice move into alibaba as well. so i think there is a lot of things behind this whole thing. ali pay, look at transactions on single days, some numbers were absolutely extraordinary. i like alibaba, i think that feeds into the yahoo! story. near term catalysts favor yahoo! >> the thing that stood out is bank of america was able to pinpoint january 15th. they're probably outlying some kind of tax strategy for baba. for google there was no specific date for catalyst that is the crux of the problem be. >> there are much easier catalysts to kind of plan your trading strategy around with yahoo!. to look at companies and look at places where actually google is so much more interesting on setup. this stock, trading back near the 520 level, double or triple bottom on this stock, bottom of one year range, company that is not broken, company that needs a catalyst, it is 20 plus top line growth, 22 multiple, i can buy that right here. >> i'm long both of them. i'm long google and yahoo!. i feel -- >> you like both. >> i do lik

tepper saying quote, it's not the time to be careful now, enjoy the ride, but warneded about the potential of overvaluations. what do we make here as we sit at new record highs? >> if you look at earnings, we're around 19 times. nx year, we're 17.2. i don't think there's a lot of value there. i think there's a lot of interesting things. the things that got 2014 off to a decent start and gave us volatility in the mid year i think is what happened in 2015. as long as central banks are printing money and there's little inflation. i think we have the same format. i think europe will do better. but what he says i think makes sense. it's not bubble time. >> when central banks are combatting deflation around the world, a result of that is a rice in asset prices. >> it's real simple. you have more money chasing asset prices. i think he's quot to something. it's going to sound funny coming from a guy who's generally bearish, but the market is, i would call it overvalued f. you look at market cap to gdp. we're at the second highest lev of gdp in history. but with all these central banks printing mon

look at david tepper and thinks 2015 will be a great year. do you think we'll see that for the economy? talk to us a little bit about the trends you foresee. >> i think that drudge report headline is spot on kelly. happy holidays to you. it is still a wonderful life. there's good positive signs out there, particularly in the u.s. economy. we're looking at 2.5% 3% growth in the coming year. we're looking at another great year for the job market. that's all wonderful. i think we're setting up for a good year in equities and the bond market won't fare so badly given that we don't have the boogieman that's worried everyone for four or five years now, inflation, kelly. it's not come and don't expect it next year. it could be a really great year once again in 2015. >> anastasia, what about that? plenty of people are asking is this as good as it gets with prices holding steady here i'm talking about like gasoline prices, oil still going down here, interest rates are still low. the housing market is showing signs of continued growth here. stock marke

where else can you get a mom in pittsburgh to compete against dave tepper or the cooperman or the highy in connecticut to mix it up with. and it's unbelievable. and i think anybody that's interested in stocks, anybody that's interested in philanthropy should get out there and go sign up for our competition. >> and you have to do it by december 31st. the lowest entry level is 100 bucks. starts january first. the masters pay ten grand and on all behalf of their favorite charity. we're proud to be a part of it too. >> glad to have you. >> come up. the spin studio's two co-founders are here with a look at their own playbook. and firsthand analysis when we come back. >>> highs of the day right now almost 300 points for the dow. the last time it rose, as i've mentioned to you already, the last time it rose 200 points or more for two consecutive days was six years ago. and there's 300. on the dow at this hour. s&p with a nice move today. the nasdaq as well. well, spinning is one of the fastest growing fitness trends, and businesses like soul cycle are taking full advantage. the company which

tepper had to say about 2015. this year rhymes with 1998. easing coming from europe. sets up 1999, i mean 2015. i like that. one of my comments was russia could possibly default on its debt. he goes on to say in '99 s&p went to 30 pe. next year pe likely 16. not going to get that high but beware it is possible. i would be more concerned about interest rates myself but i think we can go to 16 or 17 if the economy continues to show signs of improvement. >> thank you so much. >>> let's get back to julia boorstin. >> seth rogen tweeting the people have spoken. freedom has prevailed. sony didn't give up. "the interview." seth rogen doesn't just star in "the interview," he also directed it. this is really his project all the way through. he is very pleased and kept mum over the past couple of days ahead of this when sony had announced they were pulling the film. so clearly this is something he has been pushing for and the release is happening on thursday in independent theaters that have agreed to show the film. >>> let's get back to the markets. is the dow 18,000 a sign th

. >> so joe was e-mailing with david tepper last week. >> right. >> and tepper said that 2015 was goingrhyme with 1999. if you remember 1999 from an m&a perspective -- you've had a lot of deals. i don't want to diminish the size of the deals, but we've had a couple of blockbusters. but 1999 was the year of the blockbuster. >> partying like 1999, right? >> do you think 1999 is going to rhyme with 2015? >> i hope so. >> your bonus will be great. >> it would be a better thing. the one thing i would say that really encourages that is this is pretty constant. all throughout all markets, health care and pharma have been strong all year, oil and gas is picking up. tmt is picking up. i think pick public company targets being the -- >> the inversion craze, is it over yet? zb i don't think big cross border strategic deals are over. >> but a lot of those pharma deals and health care deals were driven or at least people were talking. there was a lot of chatter. people were talking at least about doing those deals because of the tax benefits. >> i really don't think you do huge deals like that becau

i have one from the "new york times," from johnson tepper, a u.k. and u.s. citizen.e writes why i'm giving up my passport. this has been a theme over the last year or so as the u.s. government has really cracked down on making sure people report their assets outside the u.s.. he says >> it is a huge deal. >> it is huge. last year, 200 99 americans gave up their passports. michael shao, you live in the u.s., you're not a u.s. citizen -- you are a green card holder -- is this something that gives you pause, that the government will track you down and make you report your assets and wanting to be a u.s. citizen? green really because as a card holder, i actually have taxation with no representation ironically enough. i do think the u.s. is uniquely intrusive into the financial earnings of its citizens when they live abroad. there is a whole class of people who were born in the u.s. as kids and moved abroad as adults and never realized i simply not reporting they had money and a k have now tripped massive u.s. lability. >> there is a great cost to this. even adults have t

. >> david, tepper said enjoy the ride. i think it's a hop on while the cart is moving. could it make it end poorly? >> i don't think we're there yet. we have a conversation of private equity and companies rolling out. just yesterday, we heard about shake shack. right? they're talking about brilling it out 12 times trailing earnings. when chipotle came out, it was roughly two times trailing earnings. you look and say is private equity seeing something we are not from a growth perspective? >> or can they roll out six times of chipotle because markets are accommodative or frothier? >> absolutely. no. i think it's interesting as far as the themes that we are seeing in the marketplace. and look. i think the private equity look is an interesting look looking at from a growth standpoint. >> andrew do you eat at shake shack? >> i don't know, kelly. but what skaerts me is bombs globally, a hard landing in china, japan can't dig -- >> there's always a thousand ifs. >> i don't know if investors fully appreciate them right now. >> probably not. how can you fully appreciate all of t

david tepper says it is not out of the question to see the s&p rise 8% to 10% because the economy isting better all the tenets are there here in the u.s. do you agree? >> i do. i think the u.s. economy is surprised to the upside. much of the second half of this year jobs and initial unemployment claims falling. what we have yet to kick in is real wage gains and seeing some of that next year. corporate business investments been pretty good and even the government will move from a negative impact on the economy in '14 to a positive one in terms of gdp in '15. the only drag is likely to be net exports given the weakness in nonu.s. economies. >> what about some of the other bricks that are in the wall of right now, bob, like the fed possibly raising interest rates, maybe as early as you know mid year? the problems overseas europe and japan with their central banks at odds with our own fed right now. russia. we could go on and on there. do any concern you enough to change your portfolio for 2015? >> not really. i still want the vast majority of the earnings in my portfolio to come from th

>>mark: to the sharks for the 43 victory jan tepper scornful sharks who won their season best four straight nine overall the oakland athletics has traded all- star norris bell took >>darya: that is a dead the right-handed the 25 north banded to 70 " with 10 home runs to 55 rbis in 27 games for the a's not to give heavy new scorecard people with all the ads and all the trades in the bay area's two men to this was my life so every sunday at 9:00 p.m. on kron 4 this week of citizen has an appeal will be right back. female announcer: get three years interest-free financing on brand name mattress sets. plus, get free delivery, and sleep train's 100-day low price guarantee. sleep train's interest free for 3 event ends sunday. ♪ your ticket to a better night's sleep ♪ ghardei sqresoppernt bk. a hoday ndezus rich ccola lays an feste peermi. a irarlli igin. ♪ a ltle wardor a the thgs y get them befo thedisaear. is the bulk of the heaviest rain is begin a push off now exiting the clear lake area live been hammered here for quite awhile. also seen some heavier rain here for call stow the sakhalin the

. >> tepper has been changing his tune over the past year. in may, he was saying you should hold on to some cash. you should be -- >> no no what his performance was. >> mostly just this year. >> but it was up. >> it was up. >> earlier this year there was a big issue about talpers. in a year where the average is 3.5% and the s&p is what it is do people say, you know what? maybe we're making a mistake. do you think that's an aberration. >> i think it takes more than a few months even more than a year for these changes to happen. i think if you talk to the pooi people in the industry it's hard to find someone making a big move. but what they've done is put this topic on the table. we've seen years of money coming into hedge funds nonstop. this is really you know at least opening the conversation. >> has paulson make any money since -- >> he has. he had a great year last year, up more than 50%. >> so the bad bet on gold year? >> i think last year he had done tremendously well. up like 31% or something from what he -- >> icahn is hard because he d