Signals that are pointing up wards and onwards for stocks and the backlash against billionaires, Elizabeth Warren launching a fiery ad targeting leon cooperman and other individuals. Cooperman joins us to fire back. The Investment Committee is ready to go. The Halftime Report starts right now. Welcome. Good to have you with us on this thursday our Investment Committee, joe tearerranov terranova. And the brothers and the walmart retailer beat and raise quarter, stock opening alltime high today. Joe youve been making a cas for this one, you own it i do. And under review. All of the news, the good news is priced in i think walmart is trading a little disappointedly today. Still own the stock, im going to see in the next couple of weeks to see if theres something i want to do a tremendous amount of positive news, theyre separating themselves from the gap, the macys, brick and Mortar Retail names, theyre succeeding not only online, grocery has been very strong for them the ability to drive up and get the grocers. So, it was a great quarter, but i think the news is somewhat priced in. Thats an interesting take because targets on the other side if eye want to have that conversation, lets do it. Pete, you own target right Everybody Knows that at this point. Stock has put a double over walmart has done year to date, right . 68 for target 32 for walmart right is the best priced in to target as well no, and heres why i say that when you look at target, the difference right now, the earnings which we looked at which were fantastic to joes point. This is a 125 stock after released now obviously, its pulled back five bucks part of the reason is, its a great quarter. They did great with ecommerce, they did everything right. They really did. You got to give them credit. But theyve invested 20 plus billion dollars to get to that point. Its a great thing but cost them a lot of money on the other side, you look at target and you say for 550 million, you bought shift a couple years ago thats put them in the ecommerce world as well logistics. They spent a little less they spent a lot more on their stores and when you break down these two companies, time and time again, i brought this up, when you look at walmart, its fantastic. Theyre going right at amazon. 55 of your revenue coming from an extremely low margin business, that makes it a lot more difficult, right . When i look at these two companies, one is parading at a 30 multiple and the other one a 17 which one would i rather own now . For sure the 17. This desk has voted pete owns target, brenda owns amazon joe is the only one its been a great hold. You cant say its all to your detriment because you own target the stocks, as i said, put a double on but no walmart why . I dont own walmart because just didnt see i dont want to say any edge. I like to see growthier companies. Its a phenomenal company. Theyve executed flawlessly. I agree completely with petes analysis i didnt want to be who heavy in retail i also own amazon and visa which has a relationship to retail i didnt want to get too much there. Theres nothing wrong with owning walmart the strong keep getting stronger and that will be walmart however, i think theres much more upside in target. Cornell really hasnt been there that long. The company was not in great shape. It wasnt in terrible shame, or great shape when he took over. It was close to terrible. Well, they had the canadian issue. Right, right. Hes done a great job and turnovers dont end like this, continuing to bring in, take in market share online still very much a presence with them. I agree complete with with pete. I think theres more performance to come out of target, than walmart. 120 billion a quarter in sales. Zbrts a monster. Its unbelievable im sorry, doc, go ahead. I was going to say real quick, scott, one of the things on their plate is the new partnership with apple for the siri being able to order groceries with your voice. On whose plate . Walmart it shows how much the jet integration is working this is a tech play of sorts im not saying pure tech, scott. Because of what theyre doing with jet and what theyre doing with apple theyre moving a little more into tech which makes me more excited about the company. But you dont own it either i dont own it either one has a 17 pe and the other 29 walmart is 29. Brenda sounds like a game of four as long as youre in costco, target, walmart or amazon, youre good. If not, you got to worry i think there are other places to be like what brick and Mortar Retail. Without brick and Mortar Retail, strong exposure. Steve mentioned visa we get to benefit from that. Thats a derivative play. You choose dto be in amazon over target, why . Because thats a place we see happening, online. Walmart is now competing quite nicely with amazon we continue to think that amazon is going to benefit with Online Retail and continue to be a winner heres an interesting thought from jim cramer earlier, how could you not own walmart and disney for that matter which were going to get into in another second because it hits a new alltime high. Fair point absolutely. Its going to drive money into shares, no . Indeed. You mentioned four names they are what we classify in retail as haimar market retailers what do they have . They have the ability to negotiate with the suppliers because of their size, because of their scale thats the distinctive advantage that they have walmart, where it sits right now needs to improve on one thing. Pete mentions margins. General merchandising is a higher margin sale they need to see some strength there. Right now the strength for this business is 41 ecommerce growth and a significant capture of market share for Online Grocery. Walmart controls 25 of the United States Online Grocery sale market. Thats a lower margin business they have to improve on general merchandising. Didnt mean theyre going to sell it as i said, its under review, its probably in a right place from a Value Proposition i actually made a mistake i made it a game of five instead of four, because of best buy my apologies to best buy intref is. Id rather own nike than walmart. Were making the same point, its a very Selective Group of retail you can own without a doubt without a doubt. Youve got to own a brand like a nike and a good brand like an under armour youve got to have the ability to invest online like a target, like a walmart and best buy, too right lets not forget, best buy was supposedly going out of business because of amazon. Look at what theyve done. Unbelievable. Doug mcmillan, hes the ceo of walmart hes on next week. Calling the network with us, a big event we have out on the west coast were looking forward to hearing in Doug Mcmillan you guys giving up of these props to cornell, Doug Mcmillan deserves that. Without a doubt stock downgraded to a sale, target, 190. Im quoting from their ping. Proprietary survey data and analysis lead us to expect 14 below consensus iphone revenue in the fiscal quarter of 2020, 6 below for the entire year of the fiscal year. All of this optimism about iphone, right . Newfound optimism because of reports of orders and production and stuff like that. And yet you have maxim throwing cold water on that, what do we do with that for another stock thats at an alltime high i appreciate the viewpoint. We see so few sell recommendations. I dont believe that iphone were not going to know because theyre not going to report units anymore. Is going to be the great thing that everybody sees. Its very difficult to do the channel checks on these companies so id be curious about the information. Again, im not going to sell it because im going to have to pay taxes on the sells i think the 5g cycle is the biggest upgrade not just for them but i was reading reports yesterday, qualcomm sees it as 12 trillion market. At what point is that in the stock . Its not in the stock because they havent even launched i know, the stock is on the way, it has even in the face of questions iphone, because of 5g expectations . No, not at all. I suspect that its accumulation story you mention lead names that you would holdful you were in a mutual fund. Disney, walmart, apple apple is the one name that i still see as being significantly about calculate accumulated. Institutional holdings of walmart fell in january by 60 Money Managers are still out there buying into apple and thats the one name thats going to give you the exposure if you think about it what has apple done fundamentally this year that is distinctive versus private year i would argue not very much. Its more about apple performing its a stock performance, not the company. Theyve had revenues, down earnings its going to brand names. Thats one of the brand names theyre going to i think theres been distinctive things happening with apple since this time last year, the Company Report they had were no longer going to report unit sales of iphones and gross margin grew sequentially so it suggests there has been a little bit of a change you know, silences some of the naysayers out there. With regard to the multiple, its trading premium to the market but i would say thats where it should be trading, likely, relative to the sizes of the company and health of the company. Analyst is coming up, pete, on the exchange, right right what do you do with the call . I appreciate the call what do you think about it . Not appreciate it. Im trying to be as kind as i can. You dont have to be kind its an analyst who had a hold on a stock put it at a sell with price trading at 2 extinct. 260. Im trying to be as kind as i can by saying, wrong, wrong, wrong. As soon as that iphone dropped at 50 of the revenue, right around the 50 that was a big game changer for me because it finally got some of the analysts to start looking at something other than the phone because i dont think the phone has been the story you got to go with where the phone is, the growth in ai and services you still have to have some level of growth in iphone. And they do well, i think that will continue to slim more than you guys maybe think. But i think the idea of when you put services and the wearables together and you got 20 plus percent in services, ten plus percent in wearables, those are growing and its better. But you still need phones. I get it, i get it. Yes, it feeds the whole thing that we talk about all the time, the ecosystem. Can i give you the psychology behind this call as a former Research Director . Go ahead. The researcher comes to the analyst saying look you got a hold on the stock, you got a price of 190 you either have to get auchl the ho off the hold or go to a sill theres significant downside there. Thats where im guessing drove the analyst to come out with that sell . As monster says services are at the core of apple i feel like i should be laying down on the couch the psychologist of the call. The psychology of the call. You know what they pay for that insider call like that . Judge, its the multicameras, the three cameras set on the highest end phone thats causing a lot more data to be stored on the phone, cant handle it so they got to put it up on the cloud. Thats additional revenue for apple. Full stop. End of story is that is growth in an area as pete said they have their best margins in that. Lets kick disney. Its a widely held stock on this desk big day, disney mrplus, obvious, numbers coming out yesterday at least get an idea of where theyre going. They lived up to the hype right they exceeded it even as the stock had sort of taken a downturn going into all of this, all of those fears are over now you restarted i remember say be she was lightening up on the position because the stock had say big move and then it looked a little broken there, now, its back on track. So i would categorize it more towards my thinking with walmart than my thinking with apple. Walmart, im suspecting that its priced in apple, i think, could go higher further. I would say disney, im concerned that this might be all the good news priced into the stock, where it sits right now and were not going to get much more out of it okay. To your point, you basically restarted the excitement, the momentum that you had five months ago on the announcement of disney plus earnings were solid. But i just kind of feel like its fully priced. And to me, you really have to be able to and youre getting a lot of subscriptions are free. You have to hit that 90 million submark in the next five years. And the real momentum is going to come in the bundle. The bundle is where i think disney is going to be very successful combining hulu, espn. If youre a verizon who is getting it for free for a year 19 million. What . 19 million. But thats the hook, what are you going to have it for a year and then cancel . Tell your kids, hey, im sorry, no more disney plus a kid, even a 3yearold is going to say, are you kidding me for six or seven bucks youre conduct me off 163 at credit suisse. 160 at jpm outperforming respectively on their calls. Pete my opinion is this, i think the stock make the break threw that were talking about a 10 move thats about what we got on this absolute screaming moved to the upside yesterday. My suggestion to a lot of people was kind of what joe is saying i dont expect necessarily a pullback nor just a flattening out for a while and basically gathering itself i think the reason to say that i think the best way to react to that i can sell december 150 calls against this right now and get close to 4 last night a little options action a little options action i can hold on. Youre holding the stock youre selling the calls you dont expect to go through the 150. Thats why the 150s are comfortable to sell. Scott, youre talking about the content, its the content they already have that gives them a huge edge when youre talking pixar, marvel, hulu, star wars, all of this stuff. They have so much that helps to maybe keep people around dont forget, a lot of these are free sevenday members as well 35 , brenda, year to date, do you agree with joe that a lot is priced in, all of this optimism . I think theres a lot of good news priced in when we look at it over the longer term, i agree with petes term they have content unlike any other. Somebody told us the other day that their kid fell in love with peter pan. That was created 60 years ago. Its content thats been around a long time and it still resonates with Young Children. Anybody with Young Children in their house is likely going to be compelled to subscribe. Thats a powerful word, right . Compelled, compelled right, i just to buy this service. I just want to point out if youre a verizon subscriber of any sort you get five days free. If you sign up for inhome fios, their internet in your house, and you sign up for that for a year, theyll throw in disney plus its not every verizon person out there getting this well have to see how many of these folks who get the fiveday to petes point stick with it and how many people upgrade to fios its not the easiest thing to get. In new york city, you can get it in a lot of other cities, fios in your home is a very difficult thing to get i think this is a tougher move to make into that 90 Million Subscriber number than a lot of people are thinking right now because theyre thinking oh, its free. Theyll be able to get there i dont think theyll get paid for getting the free 90 Million Subscribers. First of all, sigh agree with joe. Doing such a good job previewing the service, its not all that surprising they picked up 10 million when you think about it. The great thing about it is iger set the bar very low he gave you a longterm target of 90 Million Subscribers, i believe hell get there over time he doesnt expect to make money for the next few years, thats also good. As long as they keep the momentum for signing up subscribers, the stock should be fine im not even sure it gets to 150, i hope it does because i own it but its 135, or 145 lets go broader, we kicked around three important stocks. Are you still lightening up overall . No. You had taken off exposure in the smh . I took off the smh and the sbi. Thats your thinking overall . Well, i had a decent size position in marra source bergen. Walgree walgreens, they own 26 of Amerisource Bergen wouldnt you want to take 5 billion . Right but theres a difference between buying into an eventdrive stock . Right versus a broader view of the market than is the mh gives you . Absolutely. I still own the smh. Look, i think the market is fine here through the end of the year, maybe we get in a few percent, thats fine i dont think i sell right now, its been a good year. And pay taxes. I do think premiums arent what they once were either because of the volatility in the market coming down so much talk be a 12 or 14point range for the vix. Scott, you just arent getting paid the way you like to be paid to sell the calls for the upside my biggest concern is phase one, does it happen . I think it makes so much sense for the chinese to do it and i think they need a lot. They have to look at the economics coming out of here and what walmart said. Their consumer, not doing so well so its in their interest, particularly with all of the unrest in hong kong to get things going there i think the deal is still and i think trump needs one. I think were at the point at the end of earnings, you looking and saying possibly could i be wrong. Talking about financials i have heavy exposure to the Financial Sector please, i think financials continue to move high, but i just had too many names. So i did sell out of the majority of my American Express position which ive hold for 18 months probably sold it to visa. I got out of visa and went to American Express the huge move, i thought the 13. E, very low pe on American Express made sense when i look at their stock buy, scott, made it interesting to me 25 of stock has been brought back in five years did you i actually bought stock in visa, i owned both i owned stock and got out of it, i put it into calls and now im out of that. Youre going to get your 8 to 10 revenue growth. You have to look at your holdings and question yourself where is the underperformance. There has been underperformance for American Express relative to financials since july. So, i think thats an important exercise, i also sold out of cintas, an industrial. Youre looking at with now reported earnings, whats been the Price Performance result thereafter has there been underperformance . I think thats the right argument where you are at the end of the earnings season it does not in any way pretend that i believe that the market is is not going to continue to move higher because i believe it will i believe thats a fair process. Lets get the headlines. Hi, scott heres whats happening at this hour at the house briefing this morning, Speaker Nancy Pelosi said in a breakthrough with the Trump Administration on the trade path with mexico and canada could be imminent and she wants to pass a deal by the end of the year. Were moving positively in terms of the u. S. mexico canada agreement. I do believe if we can get this to a place where it needs to be which is imminent that this could be a template for future trade agreements clashes between iraqi protesters and Security Forces in baghdad killing three people and wounding many more and a man accused of fatally stabbing another man in a pifig over a popeyes sandwich has been arrested Ricoh Mcclain was arrested after davis was waiting to order food this is the cnbc update at this hour appreciate that coming up, Lee Cooperman joins us live to respond directly to senator warrens new well tax ad. Thats in two minutes here on cnbcs Halftime Report. Mini is a different kind of car. Ladies and gentlemen for a different kind of drive. Ladies and gentlemen for the drive to create a new kind of family car, that became a new kind of race car. For the drive to rebel, zag. For the drive thats inside you. And inside us. Thats the drive under the hood of every mini. Because every mini is. For the drive. Or trips to mars. No commission. Delivery drones, or the latest phones. No commission. No matter what you trade, at fidelity youll pay no commission for online u. S. Equity trades. At fidelity youll pay no commission nongmo, made with naturally sundown vitamins are all sourced colors and flavors and are gluten dairy free. Theyre all clean. All the time. Even if sometimes were not. Sundown vitamins. All clean. All the time. It is time for a wealth tax in america i heard that there are some billionaires who dont support this plan. Ville fification of balance theyre billionaires makes no sense. Thats an ad of Elizabeth Warren that targets several prominent men including Lee Cooperman. Mr. Cooperman joining us live by phone, lee, are you there . I am. Youve seen the ad. You wanted to respond to it. Now is your chance well, i dont know if i should respond im just giving more credibility by speaking out, but anyway, thats my nature let me first thank you for the opportunity to set the record straight, even though, frankly, youre indirectly responsible of my emergence on the political scene. As you know with the recent alpha conference you asked me what effect a warren victory in november of next year would have on the market and i responded down 25 i notice that jones had similar jones, stevie cohen had a similar view theyre much more astute than me and warren is a politician in the worsens of the word. To respond to one of their pithy tweets, i quote, leon, you were able to succeed because of the opportunity this country gave you. Why dont you pitch in a bit more so everyone else has a chance at the American Dream, too. That shows to me, demonstrates to me that she knows as much about me as the wealth tax i agree ive lived the American Dream, okay . And my family and i and grandchildren included are all about helping out. When i took the giving pledge, the buffett gauge giving pledge years ago, i told Warren Buffett it was the plan with the agreement of my family to give away all of my money at death, weve created the cooperman college scholarship. For 500 worthy kids in newark. Weve made similar gifts to colleges in new york right and Columbia Graduate School of business. Two institutions from which i hold a degree. Those three programs alone receive 100 million support i consider myself extremely lucky to be able to do this. Im a philanthropist with a small p when i think of others like manknown and jeff bloomberg, on and on and on. Let me say this, maybe counter with somewhat some on the other side in agreement with the senator may say. That this overall issue, lee, is not so much about your generosity everybody agrees i agree everybody agrees that youre a generous man, youve done a lot about the wealth its not about me forget about me. Ill say in general, this is not about those who are philanthrop philanthropic, its about a system that has enabled people of your level of wealth to get that wealthy in and of itself, when those at the either at the middle or at the bottom cant seem to grow their own wealth in any substantial way and that those at the top are growing theirs exponentially larger than those at the bottom are. Their wages are stagnant their ability to is that the result of wealthy people or is that the result of problems in the system is it a result of a poor educational system what are the causes . I dont know, youre raising issues beyond my scope all i know, in any society, okay, unless you hit the lottery or unless you inherit a lot of money the only way you became a billionaire is by providing a product or service that the world found valuable do we want to penalize success, is the world a better place because of bill gates, michael bloomberg, i say unequivocally, yes. Its not because we dont have problems but what ive said repeatedly, im prepared to work for the government six months of the year every year and work six months for myself. Thats a 50 tax rate. I believe in my heart in the progressive tax structure. That the richer people should pay more i said that on your program seven years ago, actually it was on squawk box to get rid of the irs code that allows guys to roll forward on tax gain do something with the overall tax rate wealth tax makes no sense. It would be near impossible to police and is probably unconstitutional think about it in the real world. Youre a farmer, youre a manufacturer okay, you have your own business all of your wealth is tied up in your business. Are you going to hide 2 of your business every year to pay the wealth tax it doesnt make any sense. The main beneficiary will be gold, people will hide their wealth by doing unnatural things i really want to set the record straight i determined it would be helpful to explain my issues with her advocacy, i wrote her a fivepage letter that has received universal acclaim an old professor of mine said it was an aplus letter her response, nothing about the letter prior to that i own the stock in navient. My letter was respectful and hopeful that we could Work Together with the many Serious Problems our nation faces. Income disparity student loan debts, health care coverage, crumbling infrastructure, et cetera, et cetera let me read for your audience, my concluding paragraph in my letter i am a registered independent to vote the issues and the person, not 9 party. The fact is, senator warren, despite our differences we should be working together to find Common Ground in this vital conversation not firing off snarky tweets that stir your base at the expense of accuracy. Lets elevate the dialogue and keep this a land of opportunity where hard work, talent and luck are rewarded and everyone gets a fair shot at realizing the American Dream hardly combat tiff, very conciliatory what was the response . Basically, the navient response. You know, this is stirring her base you, i know, as you referenced at the top, have been urged by some of your friends, very prominent people, im not going to mention any names, to not engage in this back and forth. Yeah, absolutely. I got emails on both sides i know. I have emails look, its my nature. I got an email from somebody i respect who said do not let her get away with what she said about this inside trading crap, okay her response raises some old inside trading allegations i want addressed, by the way, resolved some time ago with no guilt and played a videotape that i got upset on one of your recent programs because i was so upset with the dialogue she was pursuing nothing to do with paying taxing let me tell you what my attorney said, okay i entered into what is called a no admit and no deny agreement that means i cant say im innocent, i cant say im guilty my attorney said to me, my attorney said, congratulations, you won, anytime you go along with no admit and no agreement and no timeout, the defendant won. Personally, i didnt think i won anything my attorney encouraged me to accept the agreement because it would tie knee up in five years and legal fees if it was like the uk where the losing party pays i would never have settled if senator warren wants to do something specific, tackle read the letter she criticized the wealthy because she understands there are more poor people than wealthy people so she appeals to very base instincts. That is not the america or the leader of america that i want. Okay 25 years ago, i was honored by a charity. And the guest speaker was jack kemp at that dinner, he said the america i grew up in, people dont hate the wealthy they want to be them, okay her idea to come under heavy criticism, forget me, criticism thats totally unrealistic wall street journal ran an editorial, warren has a fantasy plan Steven Ratcliff wrote in the New York Times, the warren way is the wrong way sanders, i quote him, her numbers dont make sense these comments remind of will rogers, the famous satirist and commentator. If we got onetenth what was promised in the state of the Union Speeches there wouldnt be any inducement to go to heaven shes peddling a story that makes no sense today the New York Times today, the bhawharton school of pennsylvania have come out that a wealth tax would cut growth by an average of 0. 1 there are certainly those who believe its not a good idea, it would hurt the economy you have people on your side who agree with you i cannot tell you whos against me im worried about the equity people pay their taxes along the way. I think currently federal income tax rate is 37 . The tax on investment and dividends and North Carolina is 3. 6 on obamacare then you have another medicare tax, i think 90 basis points fica, 6. 65 . Weve paid tax along the way we obeyed the law. Basically, she wants to change the law. I dont think its constitutional, by the way its going to lead to unnatural actions by people. Let me ask you this, hes not obviously the only one who has engaged in this debate back and forth what some want to call a war on wealth. Robert rice, former labor secretary another let me tell you if i told you some of the things he said, i cant find the quote im going to say it for you he tweeted the other day im quoting here i want your response to it there are basically five ways to accumulate a billion dollars in america. One profiting from a monopoly, two, insider trading, three, political payoffs, five inheritance, none of these in the supposed free market thats what will he said i dont want to be derogatory but i happen to be very friendly with bernie marcus, the hardware business is very get icompetiti, lowes is very competitive with home depot is home depot a monopoly no what he says is totally its ignorant to the facts and this is a professor of harvard. Thats part of the problem, 40 of the millennials, to my understanding, think that socialism is part of capitalism. The reason theyre exposed to all of this crap at the College Campuses is from these left leading professors, you know, okay, so i dont know, im uncomfortable in this position i think her ideas are wrong. I was really addressing the approach she takes i dont even think shes read my letter shes never responded in any substantive fashion to what i wrote to her and i spent a lot of time with additional help of my firm to write that letter. And i have a few questions for the good senator how many months a year do you want to work for the government . And how many months do you want to work for yourself secondly, what is your effective tax rate last year third, i congratulate you on your Financial Success but i wonder how a College Professor and a politician can accumulate an 18 million net worth im interested in learning, complain it to me. In the closing paragraph i sent to you, lets Work Together to solve the problems and stop with the pithy, nonsensical tweets. As a former classy First Lady Michelle Obama said, when they go low, we go high i try to stay on the high road if you keep up with this baloney you that put out there, ill be forced to go high road ill ask you, why did you lie on your texas bar application, 1986, okay why did you lie on your application to harvard and university of pennsylvania when you applied for employment saying you were americanindian heritage we dont need another fabricator in the white house what we have to do is Work Together be serious students and understand i have no problem paying higher taxes. You want to move me from 50 to 37 and thats the country, thats fine theres no better place to live than america whatever taxes are asked of me, ill do whatever i have to do. You but your attacks are directed to the wrong person and on the wrong issues, as you said, scott, im not there alone. I have a lot of company and i really dont relish being in this position. I dont need the notoriety, i dont need the visibility. I want to be left alone. I got one jegenius, i got 400 se emails, one guy said, if i knew where you lived id put a bomb in your car. You have gotten some threats . Its your fault its your fault. I didnt put words in your mouth in delivering alpha . No. Its your question let me tell you something, if Elizabeth Warren wins or Bernie Sanders wins, the market goes down more than 25 oh, yeah. Market is assuming that the current president wins again i dont think its a shooin nor should it be a shooin i have issues. I have plenty of issues, you got me until trouble with warren, and now youre going to get me in trouble with the president. I talk what i believe. And thats it. Im sorry, you go ahead. Thanks for giving me time. Im certain shes going to, if shes not watching this live, shes going to find it and shes going to see it and respond to it then what are you going to do . Im going to do nothing ive said my peace ive said my peace listen, i said this before, im a philanthropist with a small p. Im very lucky, i went to public school, 75 in the south bronx, high school in the bronx first generation of my family born in america. My father came to america from poland at the age of 13 as a plumbers apprentice he died carrying up a sink in a tenement building in florida where he was working and basically, in retirement and ive done very, very well. Im very lucky and im going to give it all back she has fault with that, thats her problem. Not my problem im at peace with myself thats it. Im done you know, whats happened actually, its nice news, though i work for free. People dont pay me. So cnbc, bloomberg, cnn, fox news, theyre all calling me you know, i dont need it, i dont need it. I dont need the visibility. I tell everybody im like the guy in godfather hymen roth, right before they shot him at the airport. He said im a retired executive living on a pension. Im a retired money manager living on income my greatest joy in life is my grandchildren living purposely and im growing old. Thats it. Lee, lets leave it there next time we talk, we talk about the market and stocks we like were not going to talk about politics ill go on record, if this lady wins, were in big trouble im going to make that the last word. Lee, thanks for the time my pleasure byebye thats Lee Cooperman. By the way, we have a couple other interviews you dont want to miss. Mark lasry, the chairman and ceo of aftverman capital and tuesday, Lloyd Blankfein who is called out in this new ad by Elizabeth Warren, he has responded on twitter already let me read that to you now since hes going to join us next week Lloyd Blankfein tweeting surprised to be featured in senator warrens campaign ad given the many severe critics she has out there. Not my candidate but we align on many issues. Villefication of a people could be good for her group. Maybe tribalism is just in her deane. Thats Lloyd Blankfein on twitter. Well hear in him next week. To phil lebeau with the news alert. Scott, every year Consumer Reports asks its members, rank your vehicle, tell us what works and doesnt work the new report has just come out, lexus, mazda and toyota are rates at one, two, and three as the most reliable models according to Consumer Reports. The bottom three, cadillac drops to the bottom behind alfa romeo and acura. When you take a look at records of tesla, tesla to its recommended model 3 and s according to Consumer Reports. The reliability has improved tesla ticking a tiny bit lower. Still higher by 1. 5. Options with an opportunity in the consumer jon and pete have new traded for you. First,dom chiou has a look on the exchange. Were officially in the longest bull market in history one of my next guests says were not done yet he tells us why and where hes putting his money. And key for executive firms. And a Top Executive slowing adshe at googles chrome books thats on rapid fire ill see you on the exchange. U. With value like this, there are zero reasons to invest anywhere else. Fidelity. There are zero reasons to invest anywhere else. Wean air force veteran made of doing whats right,. Not whats easy. So when a hailstorm hit, usaa reached out before he could even inspect the damage. Thats how you do it right. Usaa insurance is made just the way martins family needs it with hasslefree claims, he got paid before his neighbor even got started. Because doing right by our members, thats whats right. Usaa. What youre made of, were made for. Usaa when i lost my sight, my biggest fear was losing my independence. Mmm. Good. So ive spent my life developing technology to help the visually impaired. We are so good. We built a guide that uses ibm watson. To help the blind. It is already working in cities like tokyo. My dream is to help millions more people like me. His haircut is nice. This is the mostawarded minivan three years in a row. The van just talked. Sales guy, give em the employee price, then gimme your foot. Handsfree sliding doors, stow n go® seats. Can your car do this . Man, yall getting a hook up and you dont even work here. Dont act like im not doing yall a favor. Yall should be singing my praises. Pacificaaaaa purchase and get 5,361 below msrp plus 0 financing for 60 months on the 2019 pacifica limited. Welcome back we started again back on air options traders are betting on this retailer ahead of the Holiday Season jon and pete are at the telestrator. Didnt quite make the telestrator. Hes been all over the place. Ive got just one bed bath and beyond. What i like about what were seeing now scott this is one of those names when you look at Short Interest, its astronomical 50 plus Short Interest so short squeezes seem to play into this. Theyre buying november 29th expiring so the last week of november, those are the call kuos theyre buying, the 14s when they started buying these, the stock was trading 13. 5 this were they were about 13 to 45 cents large numbers, 5500. Well see what happens the rest of the day wheres the new ceo from. Tart. Doc gmtx, scott this is a december play. P theyre buying the 30 calls with the stock a little over 28, 28. 5 they bought these in big in your opinions 6500 right wii way paid from 25 cents up to 45 cents for these so i like the risk versus reward on this one a lot. Ill be in these trades almost a full month second one, take a look at cse this one we highlighted just a couple of weeks back when they were buying december 28 calls and the stock was at that time the 28 bucks ran to 37. Now theyve taken profits, immense profits on that trade and theyre buying the december 40 calls for 45 cents so i really loiike that because im following somebody b whos been right time and time again and theyre picking another higher strike o. I jumped on those to final trades straight ahead lets answer your questions now. Joe, you first were doing paypal robert in england says thoughts on that the payment sector with Companies Like google juching into banking i purchased it in the wake of the october 23rd earnings. I like d the 25 increase in payment volume additionally, go pay was an acquisition i thought was a strong one thats a chinese payment platform so those two conditions, rb reason i stepped into paypal, i will will be somewhat impatient with this position id like to see it begin to accelerate a little bit more than it has and if it does not, i would take a look at youre getting impatient with a lot of names today but you said thats not representative of your overall view of the market its not, but i think its good to question yourself specifically explain earnings. Its good to look at the performance of stocks. How to they respond to earnings. I think that gives you a fair understanding of whats priced in and whats not. Pete said i took money from here to put it into American Express. Thats the question im asking myself because to your point, im favorable on the markets have you answered yourself yet . If im going to come out of disney where can i find a commu Communication Services slide over here b and answer it im going to out at walmart where am i going to go why you asking me youre asking yourself whats the answer. Whats the answer the process for the viewer is very important you have to find if youre bullish on the market and youre going to take money out of u a specific sector whats the answer a lot has been in recent days, boeing bing. Id have to find some other opportunities behind that. Okay, thank you we made it explaining a process. Its good. If youre asking yourself a question, i expect yourself to answer it. Right . Is it just me . The truth is, he doesnt need you. If hes asking himself and answering himself, he doesnt need you thats true you guys can figure it out jon. Annie in texas, buy, sell hold they pete and raised last earnings, october 30th i would hold on to it. Steve weiss gabe in North Carolina nvidia going higher or lower. Look, the stocks had a great recovery after last quarter where it was better than the prior quarter where they missed. I think over time, its going to go higher. I dont look at it as particularly expensive got more than 30 Earnings Growth its 30 times. So one pick seems reasonable i think theres so much momentum in it theres no cushion, so id rather wait for a pullback more earnings after the bell tonight. Right so you may get that opportunity or it might jump from you take the risk. Pete, max in london. Bio tech what names big cap names biogen with the alzheimers drug possibly coming down but im not in any of these names. The only one thats close would be im not going to put pfizer in there, but merck. I stick with the big pharma n e names, but i think there are some great names out there that traded extremely cheap pe. Brenda from new york city fis. Fis. Recently established position in they got global pay. My dad. Fidelity National Information services they bought world pay. Just announced the synergies are are going to be better the piece of the story we really like is that regional banks have understo underspent on technology so we think going to be an area of future spending. Fed eck taiwan semi nvidia. Guide Wire Software up to new high us. I was waiting for you to ask yourself what your final trade was. Still talk iing to himself a few companies hemt care, yes good stuff. Thanks for watching. Thanks for that welcome, everybody heres whats ahead. A rare call on apple today as one analyst cuts the stock to a sell rating. Well talk to him about the risks he sees as the stock hits all time highs plus sh, its officially the longest bull market in history, but are signs emerging that we could be starting to get a bit frothy well explore that topic and who knew there could be such big money in a product at the low, low price of free. But we begin with todays markets and seema with all those
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