tv Making Money With Charles Payne FOX Business September 11, 2019 2:00pm-3:00pm EDT
neil: we've been talking about the dow 1 1/2 points of the record high. s&p 1% from the record high. as optimism prevails on trade, now apple. now a trillion dollar concern, on lots of stuff. if only you had been listening to charles payne who was telling you that when we were in the middle of free fall. he is here. charles: neil, appreciate it as usual. good afternoon, everyone, this really is "making money." stocks are indeed higher. several dynamics add buzz to trading, investor resolve, rotation into oversole names, meanwhile i continue to see at a stock market hinting at positive news on the trade front as u.s. and chinese officials will meet in just a month from now. the jig is up in california. the senate there passing a bill that could have a huge impact on freelance working companies like uber and lyft. we'll discuss the economics and political ramifications. remembering the 9/11 attacks, 18 years later. i attended the memorial service
earlier today. what are the best way we can to honor those who perished? all that and much more on "making money." ♪ president trump answering a variety of reporters questions during a meeting about possible action on e-cigarettes at the white house. just a short time ago the president not holding back on opinions about former national security advisor john bolton or about potential vaping risk which is pushing tobacco companies moving lower as you can see. i want to go to blake burman who is at the white house with more. reporter: hi, charles. the first time since president trump announced tweets announcing john bolton was no longer as part of his team as national security advisor we heard from the president and his thoughts on the former national security advisor. he said he disagreed bolton's stance before he got into office as it related to the iraq war. during his presidency he doesn't think it was smart when bolton brought up the libya model
talking about north korea. bolton insists he was the one who was resigned, and that he was not fired by the president. today the president said it was indeed him who made the final call. >> and i told him, john, you have too many people, you're not getting along with people, a lot of us, including me disagree with some of your tactics and some of your ideas. i wish you well but i would like you to submit your resignation and he did that. reporter: those comment in the oval office came as the president unveiled that the food and drug and administration is taking actions against the flavored products. they would remove flavored products from the market the concern here is children as hhs secretary al azar said, shows that five million kids are using e-cigarettes. >> no child should ever use a vaping or e-cigarette product. it is that simple. these products should not be
available in establishments where children can easily get them. it is dangerous for a child to use a nicotine delivery device. reporter: charles, regarding flavored e-cigarette products the regulations still need to come out. azar said there is likely a 30-day wait period after that. for tobacco flavored e-cigarette products those can still be sold out on the marketplace though azar and the acting head of the food and drug administration say that companies will need to get approval by may of 2020 regarding those products for those to continue to be sold. charles? charles: thank you very, blake very much. fast moving developments. the president discussing the latest developments in china after they exempted 16 additional u.s. products from tariffs today. >> i think they did the right thing. i think good for them but they took them off. i think, i think it was a gesture okay? it was a big move.
i wasn't shocked. charles: despite the good news a new survey show american companies are still canceling invests. in fact they're canceling them at a faster rate. what does it all mean as the two sides prepare to meet next month? i want to bring in former commerce department director chris garcia. we've seen in the last week certain overtures with regard to china concerning the situation in hong kong. they agreed to meet in october. this week we've seen a series of olive branches of sorts, coupled with continued poor economic data coming out of country, and that they are under pressure and showing that pressure with these overtures? >> charles, on a day we will never forget. i returned from a pepperdine memorial on prayer service, placing 3,000 american flags on the front lawn. i would like to thank pat boone and pepperdine president jim gash continuing that memorial. with respect to the china trade dispute, this backs and bolsters
president trump's trading position proving he was right all along. the american businesses say two top concerns are intellectual property protection and access to the chinese market. now that light is being shed on chinese unfair trade practice what we've seen they forced technology transfers. they have in fact stolen ip. what we're looking at from the president not just protection of ip and forced technology transfers and stopping of subsidies, subsidies from state-owned enterprises to state-owned enterprises or chinese companies outright, because they outright block american companies from competing. all president truould le to see, this goes back to both peter navarro and larry kudlow's ask, which is to have zero subsidies, zero tariffs, zero non-tariff barriers. great to see the business community backing up president trump with a survey. charles: in this american chamber of commerce survey, increased purchases of u.s. goods, i would think that might be number one for president
trump. by the way the easiest thing perhaps for china to do, hey, we'll buy more of your stuff. the harder thing, intellectual property, they still want to be the preeminent nation in the world. i think that is the sticking point. the south china morning post saying yesterday that a deal could be done this year if america would go with 80% what they had on the table but ip, how critical is that in there? >> the ip provisions is basic. if a company invests this much money in r&d and invest billions and billions of dollars as u.s. companies do in new technologies, those new technologies should be protected that is basic copyright protection. any deal with china, american businesses concur with that, any deal with china must include enforceable provisions. talk is one thing. when you have beijing walking away from the table as they did in may, that shows me maybe they're not perhaps ready to make substantive changes
required for the deal. charles: look at 28% say they want improved intellectual property protection in different way. that is over 70% saying they don't care. they're okay with a faustian deal, okay getting ripped off as long as they have access to that market. what do we say with companies that are okay with being ripped off as long as they get access to 1.3 billion additional customers? >> it is not a good thing for american workers to see those companies okay with that april d i.p. theft, maybe they don't have sensitive ip exploited by china. that may be a way to read that sure pay as well. they offered sound advice to u.s. businesses. while we want to make sure we have access to chinese markets but we want to make sure on the other side we force china to play by the rules by diversifying u.s. manufacturers supply chains f we can find a way to get china to feel that pressure, again there might be a little bit of short-term pain
but in the long run we'll have more protected intellectual property rights and at the end of the day we want a fair, free, reciprocal trade agreement china. neil: i thinkth already feeling that. chris, appreciate. >> thank you, charles. charles: president trump ramping up pressure on federal reserve to get interest rates cut at least zero. here is the tweet that got it started. the federal reserve should get interest rates to zero or less. we should refinance our debt. interest costs could be brought way down while substantially lengthening the term. we have great currency, power and balance sheet. the united states, usa should pay the lowest rate, no inflation. only naivety of jay powell and federal reserve doesn't allow us to do what other countries are doing. a once in a life opportunity that we are missing because of
quote, unquote, boneheads. jason rotman michael. president trump bringing real estate chops to the discussion. >> he likes low rates. charles: we all do. we're waiting for big wave of refinancing. essentially low rates, refinance, what's wrong with that? >> yeah. i think at the end of the day he is doing what he is supposed to do, he is lobbying for things helpful to the economy. when it brings rates down, refinancing with government debt that is slow moving thing. rates won't stay low that long. while they're low, look for ways to be tactical, get the cost of debt lower, that is not a real thing in my view. charles: jason, what about the real thing of being competitive with respect to rates in general? the ecb is ready to announce some amazing things, right? and so if jay powell thinks the pressure is on now, wait until tomorrow, when the ecb says we'll buy bonds. we may look at equities. we're cutting rates.
we'll be accommodative. of course, the world is going to zero or lower? >> well, i think that there is a danger of being too reactive versus rationally, reasonably proactive. and i say that because. we are in arguably the greatest bond bubble in history, right? you know with this $17 trillion of negative yielding bonds around the world. as we know, what does happen to bubbles? at some point they do pop and come down. we are already seeing the u.s. bond market starting to correct. the ultralong bond, the 30-year bond futures have gottenrushed over the past week because rate were too low. the market was actually saying rates were too low, let's jam down the bond prices. i think with trump arguing for negative rates, he frankly, listen, he is an amazing businessman, he has done wonders for the economy, negative rates in the u.s. are not good. remember what happened in 2007 with the real estate bubble?
the fed does not like bubbles. it is their archenemy. that is why they will not go to zero. charles: this brings up, you brought up the great recession, what happened before. jpmorgan's ceo jamie dimon also admitting that interest rate, this cut we had in july, he said it surprised him. the company is preparing for the risk of 0% rates in this country. so, michael, on one hand i thought it was surprising. maybe admirable that jamie dimon admitted that a firm, one of the smartest guys on wall street missed all of that. i thought it was pretty well-telegraphed. some people thought we would get a 50 basis point cut but secondly how do you prepare? what he talks about the risk of this, how does than investor get their portfolio ready for lower rates or maybe zero? >> again i think this has been a bond bubble. so to your point i think essentially rates go down, they get to that level. then you've got to prepare i think for that correction. so from an investor perspective,
you know, how low can rates go? not much lower. i do think as well. we've seen the treasury curve shift up a quarter of a point in the last few days, right? charles: are you making adjustment for at least lower rates at all? >> again i think as it relates to the bond market, we've been short in terms of preparing for rates going higher. you have to find incrementally find yield in other places. more dividend-paying stocks, things like that. charles: we're seeing the dividend payers do pretty well. jason what adjustments have you made? everyone anticipating at least one more rate cut. wall street is anticipating two or three more rate cuts. >> there are a few more items i can share. we're looking at commodities. if you read any of my recent reports, charles, the last great undervalued asset. oil in the mid 50s. charles: jason, anything on the equity side? >> small cap stocks and oil.
charles: we got you. michael, jason, thank you very much. i have breaking news for you now, purdue pharma is reportedly reaching a tentative settlement in a opioid lawsuit. "washington post" is reporting that the oxycontin maker made a deal with 22 state attorneys generals and more than 2,000 cities and counties accused of fueling opioid crisis in country, and lying about the addictive quality of oxycontin. the deal is set to be worth $12 billion including 3 billion from the sacklers, the family personal funds. fox business reached out to purdue for a comment. we haven't gotten one yet. when we do we'll share it with you. victory for president trump in last night's special election but why is the media acting like he lost? a lot on the plate including the usmca, will pelosi finally
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charles: so congress is back in session and the ball is in nancy pelosi's court as we wait to see if she'll bring the new u.s. mexico canada trade agreement to a vote. also just a few weeks until the government could potentially shut down. right now the house seems focused on impeaching the president with a committee meeting tomorrow to consider a resolution. joining me republican congressman rob woodall of georgia. thank you for joining us. >> happy to be here. charles: we're glad you guys are back. which hope you get something done but is impeachment first
up? how much sense does that make with all the important issues facing this country? >> well, if you knew how fractured and liberal this new democratic caucus was you would know that probably does make some sense. you would have thought they would have gotten all the steam off their electoral pot in the first 3/4 of this year but apparently it will run all the way into the fourth quarter. charles: what about usmca? nancy pelosi has been around. she is a great leader. she understands politics as well as anyone else. with the 2020 election right around the corner i cannot imagine she is willing to go to the american people, vote for a democrat even though we did not vote for this bill? >> i appreciate you talking about her leadership. you know there are some things in washington that aren't republicans against democrats. it is america against the world and when you talk about our largest trading partners, yes, we need a deal. she knows it. kevin mccarthy knows it. president trump knows it. you and i know it. and so she is doing everything she can to round up the fringe
elements of her caucus, bringing the vote to the floor and losing does nothing for me. i want to bring the vote to the floor. i want to win and win big for all the working families across the country counting on us to get it done. charles: you talk about the fringe element of the democratic party, the overwhelming influence they have gotten for themselves. on one hand, it is great political fodder if you're on the republican side. you spoke about america and americans. is it the atmosphere that we see, that we're watching, vitriolic atmosphere, the anger that we watch and witness every day in washington, d.c.? how do we overcome that? >> you know there are some members of congress who feel like they were sent here to defeat the other side. i wasn't sent here to defeat democrats. i was sent here to advance america. i think most of my democrat and republican colleagues feel the same way. when i talk about fringe elements, i'm talking about members of congress who feel like the bill is something that
president trump will sign, then it is not good. they need to send something he absolutely won't sign. that does nothing for me. it does nothing for working families. that is no way to govern. that is not what we're going to see this fall. charles: quickly, if we cover two more things, i have a minute to go. i want your thoughts whether or not we'll see a government shutdown, whether or not we get any legislation on gun control? >> they're going to be those elements in congress who believe shutting down the government will embarass president trump and create a democratic victory. i reject that notion. there is no need to have a government shutdown. we advanced 11 appropriations bills through the house. we ought to be able to get this done. as for gun control, there is absolutely common sense things we can do together. we already moved some of those bills to the house this year. we moved some bills through the republican house last year. if folks would stop trying to claim credit and start trying to wok together we could see advancements on behalf of 330 million americans. charles: congressman woodall,
thank you very much, appreciate it. >> thank you. charles: i've got some breaking news for you today. don't know, t. boone pickens, oil pioneer we're learning he just passed away at the age of 91. innovator, american entrepreneur and way ahead of his time on some things. we'll tell you more about this right after the break. - did you know that americans that bought
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gold authority and we'll get you started securing your financial future today. us money reserve is one of the most dependable gold distributors in america. charles: breaking right now, as we told you before the break, oil tycoon t. boone pickens. known as the oracle of oil, he died peacefully of natural causes in his home in texas. he eventually embraced all forms of natural energy along with gas. the billionaire philanthropist was 91 years old. president trump taking credit for a republican victory in north carolina special election after an election eve rally there a couple days ago.
the president tweeting dan bishop was 17 point three weeks ago. he asked me for help. we changed the strategy together. he ran a great race. big rally lasight. looks like he is going to win. conservative dan bishop who won the open house seat by a narrow margin, a seat the republican party held for six decades. despite the victory the mainstream media calling this bad news for republicans going into 2020. we have danielle mcglocklin. been a long time. >> too long. charles: there was another election won by a larger margin but i always find it interesting, when the candidate that is ahead in the polls, that is media loved loses, still, somehow the republican lost this one. do you see it that way? >> the difference is trump won this congress, this district by 12 points in 2016 this was eking in by 2%age points. is it a bellwether for 2020? we don't know that but it was a
win. no one can take that away from the republicans. the point lesser of a win than it was in 2016. charles: the circumstances were different too, right? there was an election. the reason he had the special election something unsavory some pet felt unsavory on republican side. that would not have helped any republican candidates. is it a victory, is it a loss? i mean how do you see this as something of a bellwether particularly those saying this is a sign that in the suburbs president trump is suffering? >> listen, i see this as a win across the board. president trump winning with a rally. anytime he does a rally, people are excited, they're engaged, enthusiastic, they are driven to go out to vote. president trump, this is a team effort. and this gentleman won, dan bishop, he won his race, the other gentleman mccready, he lost. he had a lot of money. he had the ground game going with a lot of folks from the last time he ran when he lost.
charles: right. >> what we see in this effort, i think a sign of things to come because folks are excited. they're engaged and the anti-trump media is always going to
be the anti-trump media. charles: also president trump tweeting today in hypothetical poll done by one of the worst pollsters of them all, the amazon "washington post" abc which predicted i would lose to crooked hillary by 15 points, how did that work out. "sleepy" joe, pocohontas, virtually all others would beat me in the general election this is phony suppression poll to build up democratic partners. i have not started campaigning yet, i'm constantly fighting fake news like russia, russia, easier than 2016. danielle, how much do democrats pay attention to the polls? do they get a sort of sense of confidence? if they do i would think it would be a false confidence? >> all campaigns do internal polling. that is the polling candidates care most about. to the president's point 2016 it was in the margin error.
charles: russia, russia, russia? >> march begin of error. same thing with the north carolina votes. 8% of the voters in the district who didn't know, unsure at end of august. take all polls with a grain of salt. look at way it is done. that is really important. >> it goes back to the anti-trump media, charles. listen, with the 2016 election hillary's folks were already measure the drapes in the oval office, all right? charles: do you think president trump is right, this is deliberate attempt to suppress republican voters, to make trump, would-be trump voters he will not win, why even bother? >> this is a attempt to suppress everything. >> any number of universities, are part of polls. suppression is none sense. >> anti-trump media hat been against the president before eenlaunched okay? so we'll see even more of this, this is not that. it will be the race card and russia anything else they can drudge up.
charles: danielle, deneen, great seeing you. great energy. we'll have a lot more between now and then for sure. i have a business alert for you. the ftc is investigating amazon. fox business has confirmed a team of federal trade commission officials are interviewing small business owners selling products on amazon. they're trying to learn whether the online giant is hurting competition. americans across the country are taking time to remember 9/11 and people we lost. coming up a powerful moment i spent honoring, brothers and sisters who lost their lives to save others. be working harder. that's why, your cash automatically goes into a money market fund when you open a new account. just another reminder of the value you'll find at fidelity. open an account today. audrey's on it. eating right and staying active?
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charles: it has been 18 years since the world watched as the world trade center towers toppled during the attacks will forever be seared in my minds. i only considered office space there few months earlier. while i did move, my gym was only a block away. it actually became part of a crime scene. not only did i lose friends and clients, i had to go back to work a few days later. my first commute back i was not prepared for the smell of death that rushed into the subway car at world trade center station as doors opened. that is one of the memories i carry to this day about the aftermath of 9/11. my other memory are the first-responders raising down the westside highway that morning. many of them racing into the burning towers while everyone
else was running out. i try to honor them each year attending a ceremony for engine 54, ladder 4, battalion 9. they endured the greatest loss of any firehouse. the entire shift of 15 perished on that day. i was shaking hands and thank personally current and former members. was thrilled to say hello to the old guard and see some new recruits making sacrifice that goes with the job. it was a wonderful tribute. something else i remember the unity of this nation on that day. they say we thud never forget. i won't. i think we could go a step further, making 9/11 a national holiday. call it national unity day. wouldn't it be great if we honored those who died in the attacks, those who gave up so much trying to save them? now to share his experience on that day, former nypd officer, army veteran, dr. daryn porcher joins me. >> thanks for having me, charles. charles: one of those things, the bagpipes, the flag,
firefighters in uniform, seeing all these young recruits this morning it filled me with tears throughout the entire thing. it brings back hard memories for everyone, doesn't it? >> i can't even explain the heartfelt memories i have from 9/11. i was a sergeant on the ground at ground zero when this particular incident occurred. it was a horrific encounter. i want to say we didn't have a contingency plan for something of this magnitude. we have the two largest buildings in the city of norco lapsed and we have the carnage that connected with this was just catastrophic. so how do we converge on that but at the same token keep ourselves safe? the truth of the matter there is no contingency plan you can ever put in play to protect us from the existence of such a horrific act. charles: yet we saw first-responders, all of them doing their jobs, risking their lives, running into buildings, trying to help people, not even considering what may come after that or what harm they put
themselves in. >> absolutely. one of the things i saw as a harbinger, freedom is not free. freedom comes at a cost and that being said we had evil men that attacked our democracy in this united states which is the greatest country on the face of this earth. so as we move forward how do we better fortify and protect ourselves? that is something comes on the back end. on the front end, dealing with this disaster, this is one of the things we had to ban together as new yorkers, not just nypd officers or members of fdny, us as new yorkers we need to come together. that is something we did. we were successful with new yorkers as a result. charles: the main speaker talked about counseling. one of the counselors was there and the importance of that because we know there are lingering issues, every year we see more and more first-responders passing away. good thing i think congress is taking care of that from a money end but from a emotional end it still lingers on, right? the wounds are still open for so
many? >> the emotional bandaid is still in play. we exponentially lost more people since 9/11, then in fact on that day when the attack occurred. the truth of the matter as you mentioned, counseling services. counseling services are paramount. when we lose one person we are grieving but when we talk about tens of thousands of people, we lose hundreds of people in one shot, that is something i really can't give you an answer for but the truth of the matter is, we need to be supportive. counsel something that comes in play. as we go back earlier, should this be a national holiday? i'm in total agreance with you in relation to that. that is something our generations moving forward should understand and acknowledge. charles: a national unity day would be perfect in this political climate. not to say the least to remind us when the chips are down we all come together. thank you very much. i appreciate you sharing your stories with us. >> thanks for having me, charles. charles: coming up, i have twin brothers who lost their father in the attack on the trade tray.
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one to one. edward jones. it's time for investing to feel individual. charles: the september 11th terror attacks forever changed the lives of every american. twin brothers mike and dan friedman lost their father in the attacks on the world trade center. their sock company, tall orders, introducing a limited edition collaboration sock with the feel good foundation which assists 9/11 first-responders and their families. they are donating 50% of the proceeds to their foundation. mike, dan, join me. thank you both very much. >> thank you. charles: i had pleasure meeting you once before. i still have a lot of socks from the visit. i appreciate it. it is always impressive, efforts being made, 18 years later to help these families. start with the idea. how did you get the idea in the first place? >> well, we started tall order two years ago, really in the spirit of giving back.
we still donate a portion of our profits back to tuesday's children, which helps out families going through traumatic loss but this summer as we heard all the news, guys like lou alvarez dying, all the first-responders getting sick many years later, feeling terrible from all their heroism and their selfless acts we knew we wanted to give back, we wanted to help out. we're proud to introduce our collaboration with the feel good foundation where 50% from all proceeds in the socks will be directly donated to the feel good foundation. charles: your dad, andrew, 92nd floor, was it the north tower? >> yes. our dad would never lived his life in fear. he was always about enjoying the moment. so when he got this life-changing job on the 92nd floor of the tower, he didn't panic bit. my mom said, what are you doing working on the 92nd floor? that was him. he always made every day mean
something. he lived his life to the fullest. we're trying to carry on his legacy with that, also giving back and paying it forward. charles: you feel like this is something he would have wanted you to do. >> absolutely. without a doubt. >> he would have love a fact we have big socks for him. we have big feet. he was six foot five. he would be very proud of juice how are the sales going sofar? giving away 50% of proceeds no pun intend ad tall order? >> no doubt. we have seen a ton of orders today. we release i had this week. it's a beautiful sock feel good foundation with their tag at the top. our emblem here on the ankle. sales have been great so far. our phones have almost crashed today a couple times we gotten so many orders. we love that we love to see so many people, so many emails coming in to support our mission and support our endeavor to give back. wanting these really fashionable and fun socks. charles: do you guys feel, we
always say never forget, it makes for a great bumper sticker and a hashtag. do you feel we're living up to that as a society? that we need maybe somehow find a way to do more? i did a piece before you came on, we should change the name of the day to national unity day. that is last time i remember america as one nation where we put everything aside, and loved and protected each other? >> i agree. i do believe we do need to be more unified than we've ever had especially today of all days when 18 years ago we, after the attacks happened we, i felt that we were more unified. if we can get back to that, it would make things a lot easier for not just ourselves but for people all across the country. charles: mike, dan. want to say god bless you. your father would be proud. appreciative that you came to share this with us. >> thank you so much. charles: thank you. folks, we'll be right back.
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charles: california at it again. state lawmakers passing a bill guarantying wage and benefit protection to employees of so-called gig companies like uber and lyft. the law makes it harder for, workers rather to be classified as independent contractors. what does this mean for the industry and is california pushing government control too far? here to discuss independent women's forum polly director hadley heath manning. california making up their own rules as they go along but this one in particular is really kind of worrisome in the sense that you do have a lot of democrats, a lot of folks on the left who like the gig economy. hillary clinton used to talk about it all the time and this would certainly hurt it, wouldn't it? >> that is absolutely right and
the thing we love about the gig economy it is innovative. it's a real change in our labor market. it allows a lot of flexibility. most workers using it supplement their income, for extra cash may not be their sole or primary source of income t gives workers a new avenue to apply to their families, these new rules under consideration in california, these would seriously restrict opportunities for workers as well as maybe even raising prices for consumers or running those businesses out of california entirely, those sort of gig sharing economy businesses. >> do you think it comes from a sort of misguided place that would be the same wellspring of higher minimum wayne or is this more help bolster or lift union participation or maybe both? >> yeah, maybe both. you know the first issue that i thought of congruent issue is minimum wage because whenever you increase labor costs, what do you get? you get less people working, less labor opportunities, fewer
jobs but there is a similarity politically because i think americans on both sides of the aisle want to see their fellow working americans making enough money to make ends meet and having good living standards but the number one way to combat poverty ironically not to raise wages but to increase work opportunity because the biggest problem for people who are truly in poverty, not their wage is not high enough, because they have no wages and have no job. anything that raises labor costs restricts job opportunities, people will have less of a chance to get on the first rung of economic ladder. charles: uber announcing layoffs. this is the day before we talked about investing money over next three years, to create jobs. they had to do a complete 180. shares of uber and lyft are ending talks with gavin newsom. but california throwing its weight around really a lot. we saw it with the c.a.f.e. standards. we see it with a whole lot of issues.
is this state so big, so wealthy they could actually usurp the power of the federal government to make these rules and laws ultimately impact all of us? >> that is a concern. last time i joined you we talked about the auto regulations and emissions california would go above and beyond the federal standard as the trump administration tries to roll back on that. that is a concern. a lot of businesses are concerned, not only california has a big market share, that other states, especially blue states will follow suit. the states are meant to be experiments in democracy. "the federalist" model, states will have their own rules to try them out. we're not learning the right lessons from california. whenever they make a mistake or go too far unfortunately states are not learning the right lessons. if you import the bad policy to the rest of the country there will be no place else for people to go with freedom and flexibility to have opportunities. charles: hadley, always appreciate your conversation.
>> thank you. >> the markets pushing slightly higher here. we're seeing a lot of things including a rotation that kicked off last week into value names. that is picking up steam. investor want high beta names. they want low price earnings rare show and yield. is that possible? we'll discuss that. business startup peloton looking to raise a billion dollars as it pedals, get that, for ipo. is this a good move considering some of the recent ipos and disasters they havead? we'll be right back. ♪ imagine traveling hassle-free with your golf clubs.
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earnings ratio and yield. i would bring a capital measure management, first of all, i know you're a momentum guy and last time he talked about hubs. >> i am a gross guy. >> i'm sorry gross guy. >> momentum is the stock to be up 60% in gold by it because it's up 50%. i look for growth stocks that are emerging from not one severity up 50% and get hit pretty hard if you buy them wrong. >> thank you for that. what do you make of the shift, is this something about the long-term that we should be paying attention too? and how of you adjusted your own portfolio? >> you never know how long the shift will go on for. but let's be clear, the extremes between value and growth over the last year has widened to the most i've seen in ages and it was due. so what you have is the big money, getting out of one area
which was obviously over owned, overleveraged and look at other places. the biggest winners of the last few days have been the beaten up retail stocks that a been smashed to the lows over the last year, the biggest losers have been the strongest names of the last year. i'm not so sure how long it goes for and just remember these companies that were the strongest have the greatest growth rate and that's what i want to be in younger term. but shorter-term, i think it last a a while. >> the ipo trend, palatine following the ipo and want to raise 3.3 billion. the pipeline has been troubling. some of the recent reviews have become unmitigated disasters. how do you handle this, investors that are watching the show, do they chase some of these names? how should they approaches? >> i have been using the word
pick your poison for the last year because in the last year over 80% of the ipos route to the public lose money. some of the valuations have been an absolute joke. i'm putting out a report in the next few days, here's a ton of names, down 50 - 80% ipos over the last two years because they were brought out a ridiculous. when you hear all the talk about uber and lyft, were hearing the story about we work now in the private people who bought it in the last year are going to lose 50% if they bring it out at the ipo. there's a lot more for us. pick your poison, understand valuation and attend billion-dollar market, 20 million in sales and loses money, you may want to think twice. >> real quick, another trend, short squeezes, tesla is rocking, wayfair is rocking, they have giant short squeezes, is this because were getting
near the all-time highs and people are sensing we gotta make money? >> short squeezes come from stocks that move that have a short position and it pent the feed on itself. so you get the every now and again, tesla has been a downer every now and again, it will rally and when you get the long short ambitious rally and that's what you're seeing in some other names. it happens every now and again, and i expect we'll see plenty more where that came from as we move forward. >> you covered a lot of ground. we appreciate it, good thing for us we will check you out again tonight on "bulls & bears" at 5:00 p.m. eastern time right here on fox business. right now from the 2000 local governments confirmed to the associated press that perdue farmer has reached a settlement and a list of opioid lawsuits, we all know it was accused of fueling the opioid crisis in this country. the deal said to be worth up to $12 billion including 3 billion
from the family, the owner personal funds. fox business has reached out to purdue pharma for comments, we've got nothing yet. the dow was up 130 points as a pass it off to liz claman. we had a heckuva rally in your show. maybe again today. liz: it has to do china and trade once again. china supply train is breaking up like a torch. president trump a little over an hour ago said the world second biggest economy still wants a trade deal, only this time china's actions match that claim in the chinese today are relaxing tariffs on a handful of products. even though if they did so under 16 products, the optimism is lifting stocks as you can see, the dow headed for the sixth straight winning session, moving higher by 132 points. both the s&p r1%