this is one of the most underpriced ipos we have seen in years. get social mobile china all at once. >> so at 30 it's incredibly underpriced. >> even at 30 it's under priced. >> let's say it has a $50 pop on the open. >> 50% pop. >> 50% pop. most people can't get in at the ipo price. what levels would somebody out there -- >> initial range is 17 to 19. it's probably not going to increase. we expect it will pop in the mid 20s at least on the first day and trading closer to 30 in the next couple days. market cap ended up being at 30. roughly $6.5 billion. >> $6.5 billion? >> yeah. it's growing faster than twitter. it has china and a little known contract with ali baba where they're guaranteed added revenue and that's for the next eight quarters. you're going to see webo blow away its numbers. a lot of investors are not going to think they have a special deal for two years. they're going to see them blowing away their numbers quarter after quarter. if anything, you either believe that webo is dramatically undervalued and twitter is the most overvalue

you look at essentially the return on investment you get with the cable car trips their arguably underpriced. in terms of shifting fairs towards from h based discounts to the ability to pay looking at the following we have the free muni for youth program which thanks to google's generous gift that some of you accepted and approved we've got funding for the next 2 years that's fantastic. what i've heard from you during the discussion we've had to date is the desire to extend that program to include 18-years old and seniors and people with disabilities all again with the same low and moderate income criteria. we've also discussed i failed to include on the slide is the compliment would be to reduce the amount of discounts on the balance of folks who currently get the fair so instead of the 65 percent their get a 50 percent so emigrate low and moderate folks pie zero and the higher than moderate pay half fair. as mentioned pretty much everything is indexing. i want to suggest that extending the fairs among a number of other things i'll talk about i'll suggest that we make contingent on a review

it could be great, but they are new, they may have accidentally underpriced and have to correct it next yeerp year. >> there is a sense that premiums will go up by a lot. right now the insurers are in negotiation. not just direct subsities, but things like reinsurance programs that the administration set up to caution the transition to the new marketplaces. they have a lot of incentive to say if we don't get more money we'll have to raise premiums by 30%. we'll have to get information about this in may, when in some states the - it's done by state and varies when you have to file. starting in may, there's premium requests for next year, and we'll know what the premium situation will look like. >> and the website that started as a disaster ended up with a mini disaster. volume has been heavy. what is your gut on whether then rollment period will be deemed a success. >> a lot will be in the eye of the beholder. the administration will claim victory. you can say we got a lot of people signing up for plans. others may point out that it looks like at this point best guess, again, tentative,

>> you could argue it is underpriced. trillion cubic feet less than the five year average writes now. some people think there could be a summer squeeze. liz: he brought up ukraine. right now we still have a very tentative situation there. there's a great belief the russians are sending in the militants who are now well trained. >> definitely has a psychological impact, take a look at oil. take a look at palladium and left them. palladium is almost a pure russian play. those are where i keep an eye on the impact of the soft green as well. the overriding pictures just struggling world economy. not improving quite quickly enough. to the stock market to where the ukraine is. liz: you don't call, you don't write, where have you been? we found you. polled you out from under your rock. the closing bell in 39 minutes. targeting private equity. a group of senators calling on the irs to take a closer look at the biggest firms. they are publicly traded, who is on the list, what could it mean for the financial titans and the investor

. >> in marjch 2009, there was lots of underpriced assets. now, we are in this much tighter world.have seen mortgage rates heighten. the world is very different so the way we think of qe is a lot different. if they move down that road -- pmi data out of the eurozone, france, germany. what does that tell us about the jigsaw that is the european economy? >> the jigsaw looking a little better than a few months ago. it is above 50. there are aren't more pieces that are fitting into place. in terms of the core markets, we are seeing a better tone. this talk of recession has moved away slightly which is comfortable. the story has moved on to deflation and what degree they should be pursuing the policy. not overall deflation. >> what is more likely? 145 in theing above next six months? 130?low in the next six months to 12 months. >> below 130 and i wouldn't see it in six months because i think whatever the ecb does in terms of policies to cataract the risk of deflation, i don't see it being negative. the impact of policies will be pretty limited. >> what is the best they can do when it co

. >> in the enlisted social junket engagements that you have, what is the response to the underpricingaway the deal or is there a new normal? ibaba will go forward and the question is, our people holding back their demand so they have room in the portfolio to buy alibaba? >> all week on bloomberg radio, we will talk about the tech bubble. >> this brings us to the twitter question of the day, has the tech bubble burst? the first answer, it has imploded. the blood that is invisible. not yet,d answer, stocks are not as overpriced as 2000. corrective action at the moment. >> in the conference call, this is critical. >> messaging, you are absolutely answer, like a piÑata full of bath salts. pinata full of pesto. >> a pinata -- >> alex, thank you. dow futures are up and we have much more for you. "bloomberg surveillance" continues on radio, "in the loop" is next. stay with us. ♪ >> good morning. you are in the loop. futures indicate that the stocks will open higher. the s&p is coming off its best week since july. it's lowest is -- mark in two weeks. hasbro returned to rough it ability. girls

that is all the evidence we need to confirm that they are systemically underpricing the risk that they're taking. and i find that very objectionable. there's another concern that i have. and that is the nature of the activity, the financial subsidization that it provides for certain overseas buyers of some american exports, the nature of this process inevitably creates winners and losers back here in the united states. the ex-im bank effectively subsidizes -- i'll give you one example. indian airlines gets a subsidy to purchase boeing jets. that's very nice. except that indian airlines competes directly with some american airlines. american companies. direct competitors, they don't get the advantageous funding yet their foreign-based competitor does. how can that possibly make sense? my final point about this, mr. president, is that one of the most predictable things in the world is when we create a government entity to engage in an economic activity, that activity will be politicized. it is a creature of congress, a creature of the government, it is going to be affected and sure enough,

isish issuance sure we'll look back at the moment and say that was a period where the market was underpriced risk and the greek bond and the european bonds are part of that example of where we are risked with the underlying profit higher. as the market learns about that, it will reprice. so the european yields will not continue to go south, but they will stabilize and be normal over the fundamentally justifiable period. we will see at the core of decision making in the parliament which is just changing in the commission which will change later in the year, there's going to be in the parliament a strong force of european voters that are actually not in favor of europe. and that will make it very difficult to have pro-european decisions done at the european parliament level. there will be more fractures and party there is. you can compare it to some of the tea party movement here where basically people make it harder to reach across the aisle and reach compromises. european compromises will be harder to do with the next parliament. and then the european stress test, quality review by the ecb r

>> i think apple's volatility is underpriced in these numbers. >> we've got the stock moving.rs coming out revenues coming in at 2.5 versus an estimate of 2.36 billion, the q1 revenues. haven't seen the eps numbers. as we wait for that and morgan gets us ready to give us some of the details. go ahead. >> what i was saying with apple you've got a story where the expectations were very different in this quarter than they have been in other quarters and volatility was cheap. weakness in apple is going to come from the second quarter. i think that this is something ultimately you really have to perform differently. facebook into numbers, the china numbers, out of apple or something. nothing in the first quarter, but watch through the second and third quarters. >> kayla, am i making too much of this? dependant on getting good numbers out of facebook and apple m. >> one side the market is looking for solid data and on the other more solid valuation on the data front. didn't have strong numbers out of housing sector this morning. that sort of set the market tumbling from the get-go a

. >> one of the most underpriced ipos in years, social mobile china all in once. >> weibo is expectedasdaq under the ticker symbol wb. >> as not, they will be coming to market during a time when social media stocks aren't loved by wall street. twitter down 23% and during that same period facebook down about 11%. kelly and bell. >> stay with us, how might stocks affect we bee's i'm yoebio? >> with us, max wolf, chief economist and strategist and leana rou wie. what do you think about weibo and the valuation that theoretically will be placed on this company? >> always a pleasure to join you. always a bit skeptical because clients like that from us. that being said weibo is getting -- is the baby in the bath water of late. i agree with cmi, seen a lot of weakness in tech and social and if you're going to be honest, we've seen an exodus from emerging markets and risk assets and maybe particularly china. do i think this company is at an early period of modernization and you can see, that being said, china has 500 million people, it still only has 40% of it population online. the people com

we help someone find a courtside seat that's relatively underpriced based on what it should cost. >> buying plane tickets. buy 21 days out, 21 hours out if you have ultimate flexibility. in the last couple of days prices will come in a little bit. why is that? >> prices tend to drop as most major events approach. and you know one really interesting thing with the final four specifically is if you buy on sunday, if you buy the day after the semifinals game, we often see a really big nose dive. the reason is you have a lot of fans who have flown down to dallas to see their teams. two are going to be totally out of it after the game on sunday. they're going to want to get their tickets and leave. in past years we've seen tickets for $20, $30, bargain prices. >> are you kidding me? because of those people who unfortunately had their team lose. >> yes. >> they're bitter. what type of user growth are you saying for the site? >> seatgeek has gone 10% to 15% month over month. you have seasonality, good months and bad months. >> is the summer in terms of everything, music, sports, is the summ

are markets underpricing? underestimating some of the risks that you're pointing out?ey're underestimating. no. >> you think that that optimism is justified in the world markets? >> i hope it is sensible and in line with the evolution and the fundamentals. >> and we have 30 seconds left. i just have to ask you. because it has entered into some of the conversations here. do you think there's a role for bitcoin in the financial systems future? >> not as is. it's too big an avenue for money laundering and other funny activities. >> but not ruling it out in the future? >> i reserve judgment. >> okay. an open mind. it's always good to see you. thanks for the trip around the world with us. the host of the spring meetings, the world bank and imf meeting, christine lagarde, managing director of the imf. we'll send it back to you guys. >> thank you so much, sarah. fantastic interview. meanwhile, straight ahead, an exclusive interview with the co-ceo of whole foods. what does he think of wal-mart getting into the organic food business? find out right after the short break. alrig