tv Fast Money Halftime Report CNBC October 6, 2014 12:00pm-1:01pm EDT
>> it's fantastic. >> very good. >> yeah. david fitcher fans rejoice. meantime lows, dows down 35. see what afternoon brings. the news flow continues like this it's going to be an it interesting week. does it for us at "squawk alley." time for the "fast money halftime" starts now. all right. thanks so much. welcome to the halftime show. we are live today from liberty national golf club just across the harbor from lower manhattan. it is a truly spectacular setting for the harlem rbi celebrity golf classic, event that benefits the organization's youth development program and charter school which serves 1500 kids and young adults with year round sports, educational programs and social services free of charge to the community. we're going to bring in our first guest in a moment. first check where the market stands. it's been a squishy day on the street.
take a look at the dow, the s&p and nasdaq moving into negative territory. a lot of focus on the russell 2,000 after what happened last week. a nice comeback on friday but then going in reverse today, down nearly 1%p i'm here with the traders, pete najarian and mike murphy. introduce you to our guests in a moment. you figure the market would swish following the volatility of last week. looking into earnings coming in a couple days, the bankruptcy which everybody on the street is talking about today, pete. >> that's part of the concerns as we get into this next week, now we're talking about earnings, past the data, a lot of the things from last week. that doesn't mean volatility is gone. as we get into earnings we're going to see the elevation in the volatility. today we were down very small in the volatility index when the market was skyrocketing to the upside. but as we've pulled back watching the volatility come back in, a combination of a lot of things pushing this market around. like you said sloshing around but it's what we expected. >> murph, i go back to the question we asked several times last week, what's the tell in
the market right now? is it the russell, small caps, is that the big concern that all investors should be worried about? or the s&p, which has shown the ability to come back, to have buyers step in? the russell has yet to confirm that's the case. >> i don't know if we know what's going to lead us. this morning was interesting, futures pointing to a higher open after we had the rally on friday. this news, you touched on it, gtat announcing a bankruptcy, they supply the sapphire for apple's watch, very negative news for the market and that i think brought the whole market down. now this is only a company that has roughly a 1 -- had $1.5 billion market. >> had is the operative word. stock down 92% today. and a real interesting story how the the stock can go from 15 to 0 in the blink of an eye. >> so that i think is going to add more volatility, fear to people who are looking at russell 2,000 because people, inr investors are looking what's the next company, what else could come in on a monday
morning and announce this kind of news. i think we will slosh around a little bit but i'm still in the camp that earnings are going to be strong this week. >> as i mentioned morgan stanley is the event's presenting sponsor and colbert narcisse is the global head of alternative investments at morgan stanley wealth management and joins us live. >> great to see you, scott. >> you have a deep connection to harlem rbi. tell us about it. that's why we're here today. >> a wonderful organization. i've been member of the board since 2010 and i've seen the organization grow in so many ways. but i think it's a well run organization. 80% of contributions towards initiatives and i think it's done a tremendous amount in the communitiy ies they serve. >> we'll talk about the markets for a moment. what are your high net worth clients talking about these days? are they trying to get a grip on where this market is going as the rest of us are? >> absolutely. i think with the end of quantitative easing much more concerned about volatility and they're starting to embrace the liquidity again.
we've seen a tremendous increase in our private equity flows and towards all types of hedged assets. i think they're trying to figure out a way to dampen the volatility and provide portfolio diversification. >> how do you feel about the timetable for the fed? relative to the better than expected jobs report of last week and everybody trying to get a gauge on whether they're going to raise rates sooner than later and impact a across a different number of asset classes will be. >> sort of a first year next year second quarter phenomenon but in the interim our clients, high network investors looking for yield. we have a seen interest in noncorrelat noncorrelated sort of p/e structures with interest rates virtually at zero but starting to go further out and that's important as well. >> guys? >> colbert, what's the risk appetite? you mentioned high net folks. talking about what we talk about, big cap stocks with growth but also have yield. how about names like the
russell, some of these areas where you're talking about smaller cap, maybe not the same kind of yield but high growth. what's the appetite for that type of a risk as far as what you're seeing right now? >> i think we're seeing opportunities are in private markets. we particularly like energy. there's a huge mismatch between the assets that you're going to need to actually take advantage of all those opportunities in the u.s. and we're seeing a lot of capital flow towards that and done a lot of things in the space and we'll continue to do so as long as the opportunity exists. >> we talk a lot on this show about where's the best place for your money? the u.s., europe, emerging markets? are you overweight u.s. as we've kind of discussed on the show? is that an area you want to focus on or keep it broadly based everywhere? >> we think there are tremendous opportunities in the u.s. but we're starting to see interest in western europe. so the banks aren't necessarily de-leveraging but we are starting to see opportunities in real estate and other non-performing assets and some of the private equity firms are starting to take advantage of those as well. >> let's talk about --
>> sorry. >> let me ask you about an area of hedge funds. callpers seems to have reset the conversation about where hedge funds are going to be five to ten years from now, say they're not going to invest in hedge funds anymore. five years from now, is the 2 and 20 model going to exist or hedge fund investing in general going to look different? >> i can't really speak to why callpers made that decision. it was a small portion of their overall portfolio, less than 4%. our clients still like hedge assets and to me it's really all about the manager selection. there's a huge difference between a first and second fund and at morgan stanley we try to make sure we emphasize, you know, asset quality, manager quality and why we're seeing continued flows in that asset class. >> in your past life you used to be the ceo of gold bullion international. we're watching gold carefully today as are all investors. do you think it's bottom? what's your feel? >> i think there's still opportunities there. whenever investors want to seek
sort of safety, they tend to go towards gold. but, you know, i think there are other things that could provide clients with their need for income in this market environment. >> pete. >> you're seeing 78% of your assets allocated towards either something in alternatives or in the equities themselves. 19% in bonds. is that standard or do you expect that to shift a little bit as we push towards the end of the year? >> i think that will probably shift towards the end of the year. our global investment committee takes a particular focus on asset allocation, encouraging clients to look at alternatives in particular. just because of where we are in the fixed income cycle. still opportunities in the equities environment. i would say, though, because of interest rates, the impending change and people are going to look at balance sheets and say gee, can they roll over the debt at a reasonable rate that's going to factor into their valuation both for equities and fixed income. >> i do think it's interesting, colbert, when i look at the right allocation, sort of into pete's question, you've got, you
know, 30 something, almost 40% other than stocks as a recommendation. why? >> why? i think it's an offset. there's going to be a lot of volatility. a number of people who think that equities have been overvalued. it's been a nice run, fueled in part i think by low interest rates. and so i think looking for alternative assets, managed volatility is something we need to focus on as investors. >> are you preparing for when the party eventually ends some. >> the party will end. we want it to end softly. >> some don't know when to leave, though. that's a problem. i have a problem with my guys. enjoy the day. great to see you out here. >> thank you for being here. >> it's our pleasure. thanks for having us. the big tech story of the day, it is another company splitting up. this time hewlett-packard, morgan brennan has the latest there. >> hey, scott. love the surroundings out there. i'm jealous. hewlett-packard moving higher on the split up about 5% today separating its computer and printer businesses from its faster growing corporate hardware and services operations. it will also eliminate another
5,000 jobs. meg whitman will lead the new hewlett-packard enterprise which will house the corporate hardware and software operations. she spoke with david faber today about the reason for the split. take a listen. >> today is only possible because the turnaround has succeeded. think about what we have accomplished over the last three years. rebuilt balance sheet, innovation pipeline that is significantly improved over three years ago. now we're in the position to take advantage of what's going on in the marketplace and position these two companies for growth. >> looking at shares of hewlett-packards those are up more than 30% year to date. scott, back to you. >> all right. morgan thanks so much. pete, just give me your call on this split. >> yeah. >> which is a reversal. >> yep. >> from what we thought. not that long ago. >> and meg has had a plan for a long time. i think over the last three, four months she mentioned this is something they've been kicking around. the emc news, they were talking with emc, seemed to break down.
looks like meg, again, this isn't activist, this is meg being proactive. she has built this company from absolute decimation into something very, very strong, scott. i think it's a great move. >> so you would buy the stock. >> i own the stock, it's in the playoffs, i love it. it's a great name i think it's going higher to $40 a share or higher. >> murph? >> i wouldn't buy hp here on this news. good job by pete. nice bounce today. i would be looking at big cap neck names that have the potential like this. one i would point out is cisco. there was an article in barons this past weekend talking about the valuation of cisco if they broke up. this is not the last large cap quote/unquote old tech company to come out and make an announcement. >> how about a name like oracle. >> ibm. >> ibm as well. >> i think will are other names out there. >> coming up, blackstone's head of tactical opportunities, and harlem rbi board member david blitzer is here. he coowns the new jersey defb vils and the philadelphia 76ers
as well, where his group is finding the best opportunities and he will weigh in on the state of pro sports as well. speaking of pro sports, new york, yankees mark teixeira, an mlb commissioner elect rob m manfred are making their way off the putting green to our set. the cnbc next list of people who will change the face of business over the next 25 years is out. paypal co-founder max levchin is on it. he's going to talk to us next about his big venture. but what if you could see more of what you wanted to know? with fidelity's new active trader pro investing platform, the information that's important to you is all in one place, so finding more insight is easier. it's your idea powered by active trader pro. another way fidelity gives you a more powerful investing experience.
we're working out here too. i know there's a shot of lower manhattan but the work is tough out here too. morgan has a market flash. >> thanks, scott. check out the stock spiking on a bhoom berg report they may be laying the mermger for 2015. those are up 9%. other mining stocks moving on that report. up about .2%. cliffs natural resources moving higher, seems to be coming -- it's bshs billton as well, 1.5% and cliffs natural resources is also moved higher on that report although that's coming off 2%.
back to you. >> morguep, thanks so much. murph, so much activity. >> there is. this is telling you there could be a lot more mergers, acquisitions in this space as well. we talked about it in tech but talk about mining, one area that's missed a lot of the run up in the market. so if you believe that there is going to be some sort of a global rebound you want to look at these names. a lot of companies will look at cost synergies and to merge or buyout someone, so it's been an area that's really under performed but this could be the start of something big in the whole sector. >> growth by acquisition, pete. in the world that we exist in, a lot of people are looking for some action. >> absolutely they are and when you look at the decimation that we have seen in some of the coal names specifically you can see some of those as possible targets, why not when you look at how beaten down some of the names are. so consolidation i would say as we get into 2015. >> let's bring in another one of our special guests today, he leads blackstone's tactical opportunities team, he also happens to coown a major sports
franchises like the new jersey devils and philadelphia 76ers, please welcome harlem rbi board member david blitzer. >> thanks. >> tactical opportunity team, what is that the special forces? >> it does sound like a good name. we decided to start this business less than three years ago to create an opportunist and flexible mandate that could allow us to really look for opportunities across the globe, across all capital structure and really be opportunistic a changing global landscape. >> kind of an air pocket after prop trading went away from the banks and you found a niche to get into? >> it's really interesting. the changing regulatory environments around the globe helped nous a couple ways. first and foremost, all of the different changes really led to a very different supply and demand of capital. so one of the things we looked for are really these changing dynamics and where capital is scarce, we like to go and put our capital there and in many cases replace what many of the financial institutions were
doing historically. the other benefit frankly of that changing landscape is as you know, many of the special situations in those types of opportunistic investments were the pursue of financial institutions themselves and that's gone away with the advent of the regulatory changes. >> such a diverse group of places you're putting your money buying oil tankers, shopping malls in brazil. how do you make these investment decisions? they are very diverse. >> they are. it's actually -- it's a unique place to be able to start a business like this. think about the depth of our platforms across the entire alternative landscape whether that be real estate, credit, private equity, hedge funds we have the deep platforms so we actually have a committee that crosses the firm in terms of our investment committee. any time we're looking at something we have the heads of our business groups across the globe and asset classes helping us to make those decisions on this commitments to capital which is a tremendous advantage to our business. >> guys? >> when you look out there
globally, so your team is ready tactically ready to pounce on something, is there another area that maybe it's due to overregulation on the banks or is there another area you think is going to be a big opportunity like i think you guys made a purchase of a mortgage company. >> correct. which plays into that sort of scenario of that supply and demand of capital. so the uk is short mortgage financing. plain and simple. spending a lot of time looking at areas short financing and again to provide our capital in those areas. the uk is housing short. people want to buy homes and they actually don't have the availability to finance those the way they used to. we, you know, that was a deal that was announced. not yet closed but the idea to come in with capital and expertise and provide into that vacuum a significant amount of capital. >> let's talk sports a little bit. why is harlem rbi important to you and important to blackstone? >> it's interesting. when you talk about sports, i really believe as much as we run these businesses as you can imagine like commercial
enterprises, they are really community and social enterprises. >> they are. >> and the ability to combine sports and to combine fill l philanthropy and charitable is an amazing combination. when i look at harlem rbi the difference it's making on children's lives is profound. and so i've always been attracted to being able to utilize sport in a variety of ways to get to youth and some cases, develop their education, some cases develop their social skills and their emotional framework and getting them off the streets into a gym or ballpark. it does amazing things. >> the big smile on your face have anything to do with the rights deal signed by the nba? >> no comment but from what i read it's pretty interesting. >> it's big. >> it's big. >> what about look, seriously, hockey season is around the corner. in terms of just being an owner of professional sports franchises as you say, opening essentially what's public trust a lot of people consider it to
be that way, steve ballmer slaps $2 billion down gets the clippers. no better time to be a sports owner, right? >> it's a god time. >> did he reset values for everybody in every sport? >> i don't know about every sport, but i think people are looking at it in a different way. i think that woke up broadly, you know, the world in a sense to the value of these properties and growth these leagues are exhibiting which is fantastic. >> do they all have growth? the reason i ask that, you've got hockey and basketball exposure. you're not in football. how about soccer? maybe european soccer. are there other areas where you guys were exploring or think some of these have topped out? >> i think the continued growth really being driven by a couple things. one, obviously you know the media rights which will continue to grow across all of the medium and sports we talked about including soccer in the u.s. and in europe. including baseball. obviously including the nfl. so we really believe in that kind of value. the other thing which i think again steve ballmer dynamic
exhibited is the scarcity value. there is, you know, 30 nba teams, 30 nhl teams 32 nfl teams. the reality there's not a lot of supply. i'm a simple guy and i look back at supply and demand in almost everything i do and i do think you can see more people that want to be invested in this growth industry and just a very small number of properties potentially available. >> not to mention it's not that often you get a sports franchise for sale at a high media ranked market as well. >> exactly. >> like l.a. or new york. >> doesn't get better stew thanks for being here. >> pleasure. thanks so much for having me. >> still on deck new york yankee mark teixeira and mlb commissioner elect rob manfred. first the cnbc next list is out and talking to one of the honor innies, max levchin joins us to talk about the ebay split, tech trends and where he's seeing opportunity right now. that and much more straight ahead from liberty national, special edition of "the halftime
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we help you shine every day of the week. centurylink your link to what's next. welcome back once again. the major averages here, again a day that started out mostly positive, taking a little bit of a turn for the worse. dow and nasdaq, s&p in negative territory. continue to watch the russell 2,000 as well. certainly being closely watched. health care the lagging sector right now. also want to go overseas to brazil, the etf, the ewz up big time today. that presidential election in that country is a surprising runoff. the pro-business challenger still in the running and could
be pushing stocks higher. what do you make of this news? >> i think it's, you know, where they're coming from, a huge sell-off in brazilian stocks throughout most of september because he was gaining momentum but looks like it might be tighter. we won't know the outcome until the last week in october and still looks as though they have a 70% chance of winning. a lot of today's rally bus of petro grass. two securities in that company that make up about 11% of the ewz. i think if you separate that out it's not quite as much strength in brazilian stocks as you expect and small caps certainly don't look as good as the large caps. this is a cheap market and if there is kind of a fwluk in three weeks this could keep going. india had a favorable election for capitalism there and that market is on a tear of 25% year to date. >> it's not surprising there's a runoff. it's surprising nivas won over silva. silva had gotten momentum.
>> he's maybe a little more so. she didn't have the funds to keep up. so i think that you really -- to josh's point wait until october 26th. >> no buy nothing. >> i don't think you do. >> pbr up 13%. >> as an investor keep it on your radar. one of the cheapest markets on the planet. fighting inflation 50 months now. if they are able to do things positive in that regard these stocks are pent up. >> sell the news on today's news and then want to reposition as you're talking ability as it guesses closer to october 26th. the week going into that, last week there were days where we had over 150,000 call options trading in petro brass. those today, you take that off and move on and wait for the next opportunity. >> going to ask you, are you still in it or out? >> we're in it in a small way. and we were in it because of this very thing. >> looking for an exit? >> one way or another you are going to see change because even if rusa does say stay in she's
hearing from the people. >> let's do our trader blitz. four stocks making news today. first up is beckton dickinson agreeing to acquire terrafusion. stef to you again. >> this is pete. >> this is pete. >> that's okay. this is -- >> it said link. that's where i went. >> we talk about big pharma and biotech and start to drill down into diagnostics. there's money out there, consolidation out there. beckton dickinson look at the reaction of that stock today. that says it all. that stock being up says about a lot about this $12 billion deal. >> josh we talked with david blitzer the media right deals for the nba with disney and time warner. lot of money. >> looking for inflation it's in the sports and media world. this is incredible. it is a triple, $24 billion deal, a triple over what the existing deal in place is. it's great for nba fans and espn and tnt, continued coverage for
the 2016 sooeason on. a lot of money, going to require a lot of advertising to make this worthwhile. >> here's an interesting one, morgan stanley upgrades burger king, downgrades mcdonald's even though josh is our food and beverage correspondent i'm going to let you do this one. >> you know, i wanted this because i've been vocal on mcdonald's. low 90s which is interesting. i debated a couple people on it. i agree with the burger king call. there are synergies with tim horton, 175 million or so plus or minus, gets them size and scale and we are hearing very good trends, quarter to date in sales for tim horton and burger king. flip side i don't agree with the mcdonald's call. the stock is down 8% from its highs. >> for a reason though? >> certainly but they hired -- to me what was intriguing hired back his north america head that has been the problem for the company. if they can fix north america and franchise and get their costs down more and help on the
margin side they're going to be able to bring that to the other parts of the world and i think it's such a depressed valuation it makes sense. 3.6% david in yield while you wait. >> you believe it? >> ialong with stef. mcdonald's at these levels when talking about low 90s this could easily return back to 100. i don't see it getting pressed down that much more. they need to be innovative and do things about simplifying the menu. few of the different companies talking about what they're doing. to simplify. mcdonald's has to do that. >> josh, you don't agree. >> i like the whopper. stuff the big mac. look. >> in an environment where burger king -- >> can i answer that? i don't -- so i understand the rationale, i read the report. >> grab a burger. wendy's? >> i don't want to be in burgers. i don't want to be in fast food. if i'm going to be in this space, i want to be where the growth is. i want fresh mexican concepts, i want what the millennials want
and don't want to eat the stuff. burger king has been a cost cutting story, a fabulous success so far. private equity guys running fast food how could you lose. drilled the costs down to nothing but what next? and the problem with mcdonald's, i don't think it's fixed by a new executive coming on. i think they have a secular issue. i think that type of food has become socially unacceptable for a large swath of the new generation and they're not getting these people into the stores and chipotle is and other concepts coming along. >> why jack in the box would bes the trade. if you want a combination of burgers, that's a great combination. something mcdonald's was losing when they spun off chipotle and that's why that stock if you look at jack in the box doing well. >> mcdonald's has a problem as coke. >> doesn't mean you can't make money. doesn't mean you can't make money. >> that's the last word. morgan brennan has a market flash, look at the move in casino stocks today. >> that's right. hey, scott. check out the stocks, the political protests in hong kong have not stopped people from
visiting neighboring macau an hour ferry away. macau reported a 14% year over year rise in visitor arrivals and while september revenue was down 11.7% year over year in september the worst drop in five years, it was still better than what analysts were expecting so as a result, winn, mgm and las vegas sands are moving higher today, mgm just turned negative slightly. >> pete, going to you on casinos. everybody paying attention to what's been happening in macau. the numbers over the several months have not been good. >> slipping and those stocks have been slipping right along with them and the most exposed over there is wynn, my favorite name as well. i think these numbers come back and wynn is an opportunity when sold off well underneath $200 a share. >> coming up tech in breakup mode. first ebay and now hewlett-packard. who could be next. we're going to ask silicon valley insider and co-founder of
paypal max levchin. stick around for a friendly competition. we know stephanie has the best golf swing. really? >> yes, you do. >> is she also the best chipper in the group? >> yeah. >> yes. >> she is. >> we're going to test the trader skills from liberty national in two minutes. a pm par that dares to work all the way until the am. new aleve pm the only one with a sleep aid. plus the 12 hour strength of aleve. ♪"in the hall of the mountain king"♪ plus the 12 hour strength of aleve. [beeping on the computer] peter come take a look at this. [beeping sounds are more rapid] [beeping sounds are even faster] mr. daniels? mr. daniels? look at this. what's this? the numbers they keep getting bigger and bigger. the clicks are off the charts. yeah the clicks are off the charts. yoshi, i'ts walt. we're back. yes sir! hi. [spoken in japanese] let's go! let's go! let's go!
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but anyone can help a foster child. welcome back to our special show live from the liberty national golf club in jersey city. cnbc has released a list of leaders, rebels and innovator expected to change the business wold over the next quarter century. a member of this list is max levchin, co-founder of paypal back in 2000, and has been quite busy investing in new tech companies since his most recent venture the consumer e-commerce site affirm and joins us live from san francisco. max, welcome. great to have you on cnbc today. >> great to be here. thank you for having me. >> congratulations on being named to our nexlist. you're in great company. what is the honor mean to you
today? >>, you know, it's trying to figure out if i'm a rebel or otherwise, but thank you very much. it's a great honor. >> maybe a little everything. i don't know. >> i've always thought of myself primarily as a rebel. but it's great. i hope that i'm still young enough to make a few more of those lists. >> something tells me you might be. so when we look out say 10 to 20 years from now what do you think given your experience and your vision the dominant trends in the area of technology will be some years from now. >> i think it's probably single most exciting time to live for technologyists we're living through an incredible fund mental change everything becoming mobile. what used to be a go to your desk and get work done is in the palm of your hands. the amount of time we spend interacting with the global network and people that populate it has fundamentally changed. it's an incredible time for innovation and disruption. >> wondering how you view some of the others on the list who
are from the world of technology. whether it's elon musk or peter teal. do you guys feel a competition among each other to be the leadrs, the innovators and some respects even the rebels in what you do in the area you're doing it and try to stand out the best over the next set of years. >> i think we're all very competitive people so i'm not sure the primary motivation is to outdo one another but i would lie if i didn't think that we're all sizing each other who's going to pull the craziest trick next yet. >> most know you from paypal, i'm curious to get your e-rhee action from ebay and paypal whether it was the right move and puts paypal now in the best position for some sort of acquisition to be acquired by somebody else? >> to answer your last point, hope not. i think this is the kind of thing that gives the company,
successful company like paypal, a real second chance, a new lease on life to say, as we saw today with hp, footnote, the former ceo of ebay and current ceo of ebay meg and john, deciding to split the company because each has gotten too big to innovate, so the opportunity to do something big, ambitious, crazy is real. so setting it up for an acquisition would seem like a lost opportunity. >> but it sounds like you believe this was the right move at the right time given it may have happened a little quicker than many expected? >> i'm certainly not close enough to know what happened but i know john very well and he's a thoughtful manager. he had -- a great steward to the company that peter and elon and i co-founded long ago. the fact he decided this was the right time to pull the trigger i'm confident he did the right thing. many of us at one point or another have said it would just keep on growing no matter what
you do to it if you set it free it will grow that much faster. >> it's interesting. the genius of so many of you folks who are on this list and others who have made differences in the lives of business in general is the vision is so diverse and i lead into the businesses that you're involved with now, which couldn't be more different, but yet you see enough in both. the firm which is a lending business and then glow deals with family fertility issues. can you talk about that. >> sure. affirm is an attempt to clean up the image that consumer credit and banks and credit card companies that issue it have acquired over the years especially with the millennial demographic they're not trusted, not liked, considered out there to get you and credit is a good thing. it's something that you build over time. used to mean something positive. the world needs a transparent new kind of a bank that creates consumer products that people
love and can relate to. that's what we're doing with affirm starting with the point of sale financing but going after a redefinition of what it means to be a consumer bank. with glow, something entirely different, it's a big data company that is trying to revolutionize the way we look into infertility and ultimately women's reproductive health. what we do there is use the enormous amount of data consumers have helped us gather with a mobile app we released to significantly improve chances of conception for women suffering from infertility. we've been able to bring almost 30,000 pregnancies to women worldwide previously not able to conceive on their own. it's a mission and we've raised a massive round of financing to expand it in pregnancy monitoring, post-natal and prenate natal. will change the landscape of health insurance. >> max, we appreciate so much your time today. congratulations on being named
to coupons's the next list. and we'll talk to you soon, i'm sure. max levchin, once again. many great names on this list. some of the ones pete that stand out to you. >> stef and i were talking before we came out, mike cavanaugh when at jpmorgan i always thought he was going to be the man that would step in when jamie dimon stepped down, whenever that day might come. he left at carlisle, creative man who has the brains for wall street that everybody's looking for. carlisle is lucky to have him. elon musk the other because elon musk is an incredible thinker and how he thinks outside of the box does not listen to everybody else, does it on his own program, just makes him somebody creative going forward. >> josh? >> for me it's travis, from uber. i'm personally addicted to the product. second, we talk about transforming things, i can see a scenario are uber is not just about getting rides places, but just this concept of, things on demand. and services waiting for you at
the touch of a button on an app. you could have whole cities transformed. the way we get from place to place. the elimination of parking garages. there are just so many, you know, aspects for what they've built with uber you could picture it being in the first inning. >> mary barra at gm i think she's done a great job in a really tough role. she jumped into that recall issue. i think she handled it very well and kind of offsetting that and letting someone else handle the financial aspects of it and focusing on growth and new products coming down the pike. >> for coverage of the next list and share your own opinions about who's on and off, head over to cnbc.com/next or tweet us using the #cnbcnext. coming up from liberty national, two names in the world of baseball live for the first time in 20 years, the major league baseball league will have a new face at the helm. when rob manfred becomes commissioner in january. what will be his first order of
business? we're going to ask him and then sit down with yankees first baseman mark teixeira and ask him about derek jeter's departure and what his club needs to do to return to the playoffs. he has a number of business ventures as we'll delve into when we come back. when change is in the air you see things in a whole new way. it's in this spirit that ing u.s. is becoming a new kind of company. one that helps you think differently about what's ahead, and what's possible when you get things organized. ing u.s. is now voya. changing the way you think of retirement. whenwork with equity experts who work with regional experts
coming up at the top of the hour on "power lunch" small caps perhaps big gains ahead. the russell 2,000 down nearly 9% from its july high is it making a bottom? is it time to make a big bet. some analysts say the majority of our power will come from solar energy in the next 25 years. the big names are getting hit today but have been in rally mode. should you buy in to what may be a long-term trend. hilton selling waldorf astoria hotel in new york to the hi chir nearly $2 billion. big deal or sign of a real estate top and will president obama continue to make the hotel his address when he's in town and should he? go to cnbc.com/vote and tell us where you stand. more "fast money halftime report" after a quick break.
big day? ah, the usual. moved some new cars. hauled a bunch of steel. kept the supermarket shelves stocked. made sure everyone got their latest gadgets. what's up for the next shift? ah, nothing much. just keeping the lights on. (laugh) nice. doing the big things that move an economy. see you tomorrow, mac. see you tomorrow, sam. just another day at norfolk southern.
the board and rob, mlb has been a long time supporter. why is mark involved with this cause? >> over 1500 kids that we serve in east harlem and south bronx, it's my backyard playing for the i can't think could is. so for me to be able to give back to the community that does so much for me is very important. >> it's been a long time focus of commissioner selig and major league baseball to try to make sure that we make baseball available to all socioeconomic groups. and we think the model at harlem rbi is as good as exists. >> we called you commissioner elect. there were questions for a while whether that was going to happen. >> yes, there were questions. but in the end, it all worked out. >> will you have universal support of all seasoner eowners january? >> i think the last vote was their way of saying to me that all 30 would be behind me. and i really do feel that i have have that kind of support. >> it might be odd. you've been in the league a long
time. you'll have a new commissioner. >> and i've been calling him rob for years and now i'll have to call him mr. commissioner. but we've worked together on the pension committee a long time. great to see a laeader who has been around the block. >> and we're sticking with rob. >> nobody has worked closer over the years with the players on the issue of labor and drug testing. you have a labor piece and solid drug testing plan in place. so what is your number one priority? >> it's not an accident that i'm here today. a big focus is increasing youth participation in the game. i think it's crucial for the sport being healthy in terms of its fan base. and we want to have programs like harlem rbi that make baseball available to all kids rich, poor, black, white. and let's not forget male, female. softball really important part of the equation. so this is a great forum for me.
>> and you have million different things going on besides being the all-star for the yankees. how are you picking your latest and greatest investment opportunities? >> i've been out here before talking about things i'm passion that t ate about. there are health products, organ organic, all natural. and i think health warrior will be a big player pretty soon. >> you have sports yapper which is an app, juice press, health and well-being. and we've talked about that before. wheels up. you have a full plate. >> i try to diversify and have some fun, too. the baseball season is a grind so when i'm investing in my spare time in the offseason, i like to have a little bit of fun. >> speaking of baseball season being a glind, boy, the games are long. we had a six hour plus game this
weekend. anything you can do to shorten the games? >> i think that there are things that can be done. commissioner selig's appointed a committee. we're taking a hard look at the pace of the game. i think there are parts of the game that can be tightened up. the other piece of the puzzle for us is to make sure that we keep the fans as engaged as possible and we make maximum use of our technology and media assets to do that, mlb.com being primary among them. >> life after jeet tter. what will is lock like? >> it will be weird. we've spent a lot of years reveling at what derek has done for baseball. he's meant more to baseball for the players than anyone could ever thank him. funs love watching dare jeter and he's taken the lead and been our face of baseball for a long time. so it will be a difficult transition. >> i agree with that.
derek is the kind of athlete and person more importantly that comes along once in a generation. but we have a great number of young appealing players and i think you'll see somebody step up to fill the kind of role that mark alludes to in terms of being the face of baseball. >> thanks for being with us today. >> great to be here. >> final trades coming up. and a little fun, a little competition when we come back.
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closest to the pin on what arguably is the most difficult chip on the entire golf course. >> pretty much impossible, but here we go. >> you have to have good hands to play first base plan. look at that. pretty good. next up. >> that may actually end up being the closest because this is down slope toward the water. don't pay attention to the water, josh. >> holy smokes. got a lot out of that owoone on. >> stephanie, great golfer. >> i like it. >> see, look at that. >> great job. hurry it up. >> ready? >> right now stephanie link is in the lead. >> that will be good. >> that's all for us today. want to give us a final trade?
>> international paper. >> bank of america. >> google is going higher. >> whirlpool. >> all right. that does it for us. live from liberty national golf club, we'll see you tomorrow. have a great day. and we're talking small caps. they have been hit very hard. but are big gains ahead shall russell 2000 down nearly 9%. is it time to invest big. big names are getting hit today, but they have been in rally mode. today we're talking to a salesperson who sees them and buys them and we'll talk about how much they cost and how much they can s