Diploma for just 100 bucks. A beer company is trying to find out. All that and more on making money. Charles market is down today. Probably i think were in a position where we could drift for a while. Consider we have to digest a monster stock market rally. Were awaiting more information from earnings, the fed, of course the impact of the coronavirus. Apple today leading the dow lower after it says it wont meet the revenue forecasts in the next quarter this being exposed in twoways to the coronavirus outbreak. I want to bring in Phil Blancato along with Devine Capital ceo, dani hughes. Let me start with you. It is intriguing session to me. Were all kind of like, okay, it has been one heck of a ride with nasdaq up almost 9 coming into today and you need catalysts to keep it going but im kind of surprised were not down a little bit more. I am too, charles. I have to say i thought the coronavirus, specifically earnings, forwardlooking motion would be much more dramatic from a lot of these companies that it would have more of impact in the markets than it has. Apple says they will probably tell news april what their outlook is going to be. They were supposed to have 63 and 67 billion record earnings for this quarter Going Forward. Charles right. Theyre not only company doing this. Were on the edge of our seats with this. It is unknowable right now. Charles it is unknowable. We came into the session, phil with s p at alltime high. Nasdaq at alltime high. To be quite frank. I tell people all the time the dow is not the stock market. Cisco last week held it back. If the dow had facebook, amazon, google, which are more representative of Society Today . Markets are in a pretty good position. You were somewhat cautious sitting on piles of money last year. Where are you going now . Right now, still being cautious. I want to be paid to wait around. Heres why. I dont like valuations right now. I do think it is exciting earnings are modestly better than expected. Fourth quarter, would get around 1. 7 that would be great. We need solid, 6, 8 annual growth to justify valuations. For me apple making interesting situation. You want to buy with opportunity. I want a little brush fire. Maybe the coronavirus doesnt come in i want a little opportunity. Charles knit that a tough part right now, socalled buying on dip . I think the biggest dip we had, after one of the record longest streaks of not a 1 move either up or down, i think we lost 3. 7 if my math is correct with the coronavirus. Going back to the to the 600 point drubbing two weeks ago. That is not the dip everyone is waiting for. Thats right. It will happen like this if history is any indication. Charles weve been waiting for a dip for a while. I know folks have been waiting for second shoe to drop since 2009. For people viewing this show it might be wise to be invested in something rather than let the market rally rally. Also when we get a dip, a real dip, 5 dip, a 10 dip, a lot of people wont have nerve to take advantage of it. I think youre right. To phils point, what people are doing, we see them going into companies that are strong and have strong dividend, strong cash flows. Utilities has been the biggest sector mover which is a huge yawn, right . This is where you can get yield and security. I think a lot of people charles im glad you brought that up. Duke energy up today. Utilities up almost 1 , the index. I get frustrated with the dow. There are no utility stocks in the dow. People sold dow component and put money into utility stock it is not reflected there. It is reflected in the s p. Is that paid to wait stuff youre talking abought . Looking at discretionary. There are some staple stocks. Seeing bottom end of the employment market lift off to make money. I like consumer oriented stocks here. You want discretion discretionary staples, go to large cap stocks. You can safe haven there. Theyre the least volatile and you will participate but not fall behind. That is key, participate but not be overly aggressive. Charles what about momentum names . Facebook is up. Netflix is up. There is chatter on twitter. Nvidia is up again. Some big momentum names are still pretty hot. Theyre a wild ride. I would disagree with you, phil. Im kind of like a bottom catcher. Im looking at energy. Energy sector charles youre nuts. The thing is charles how do you pick a bottom on energy . Exxonmobil at 10year low today . It is not picking a bottom, necessarily you have the bottom picked. It is looking at something with eye towards value and long term charles stay on that top pick for a moment. We have some Economic Data out today. The one im looking at is the empire state. They posted the best manufacturing report in nine years. Heres the thing, im wondering if this could be one of the things. It was obviously a head wind last year. Could it be a tailwind this year . One of the first reports out of the year. If manufacturing turns around some names like energy could be big beneficiaries. It can. Were broke above 50. Only 11 of our gdp. Energy is hard but i like getting paid. Mlps and pipelines but theyre underserved. To your point, lng marketplace, it is beginning to lift off. We have multiple plants online. Well, part of it is tax deferred im in the manufacturing sector. Charles we produce the ln giii bucks. Around the world, japan, china, they pay 10, 16, 20, pretty much a nobrainer. Unless politicians get in the way though. Charles thank you very much, phil, dani. Earning season starting to wrap up. It has been a pretty god session like bill said for earnings. Although walmart this morning what some consider basically a disappointing report. Take a look at this, folks. That is a pretty good move in walmart. Domestic retailers doing well. Lululemon, costco, advanced auto parts blew them away in its best earnings surge in five years. To discuss, retail analyst erin sikes. Thanks for joining. Of course. Thank you. Charles let me talk about walmart. There is some confusion. They missed on top line. Bottom line sort of muddled because after payment, illegal payment in chile. Where are we right now . I think walmart is still one of the strongest retailers there is peer, hands down. You have amazon which amazon took 50 of all sales in holiday season. Walmart missed on toys and clothing however it has incredible investment in artificial intelligence. Incredible footprints in logistics, networks, all the things that you make a strong fundamentally core value charles no doubt they have come back from a couple years ago we were looking at the demise of walmart, right . They would be another victim of amazon. They made the investments to your point, a. I. This week they killed jet black last week. There is some trial and error with respect to their online digital ai approach . Absolutely. Jet black was never met for walmart to begin with. I am surprised they made the move into luxury. It didnt make sense with their core consumer. Now that said, they have been putting a huge amount of time and effort into grocery which did very well over the holiday season. Margins are lower. You didnt see a huge bump. It is also a way to test, just like amazon has been testing via grossry and delivery and pickup and that type of thing. You have walmart doing the same thing. Were going to see dropoffs of groceries directly into your refrigerator Going Forward from walmart. It is a way to really dip your toe and roll it out to everything else. Charles lululemon, having a great session today. Whats going on there . Lululemon is the foundation of athleisure. They created the word athleisure. If you compare lululemon to somebody like under armour, has incredible performance apparel but no sense of style. Weve seen under armour take a hit. Charles i think they have other Management Issues as well. I have to ask you about this. Retailers wooing customers with wine. Several Stores Offering alcohol, maybe to get you more in the mood as you browse. When i go to stores they always offer me seltzer. Maybe they know not to give me wine but is this going to help . Yes. Fact, hands down. Charles knock a couple that, i will take that, that, dont worry about the size. Ive been victim of wine while shopping. That is natural synergy when you look at retail store experience like the new nordstrom in new york has. There are multiple restaurants and bars. There is a way for the significant other to experience the store. Charles other than reading an old magazine on an uncomfortable couch. Exactly. Charles i know the scene very well. Erin, thank you very much appreciate it. Thank you. Charles coming up u. S. Treasury assistant secretary for Public Affairs monica crowley, fbn fan favorite will weigh in on how obama is taking credit for the trump economy. Later in the hour Mike Bloomberg spending what seems to be paying off. He equals for wednesdays democratic debate in nevada. I wonder how quickly those rivals will ask him about this there is this enormous cohort of black and latino males age lets say 16 to 25, dont have jobs, dont have any prospects, dont know how to find jobs, dont know how to behave in the work place. Charles resurfaced comments coming as new questions whether diversity is really the democrats double edge rather than a virtue. More making money after this. Its a thirteenhour flight, thats not a weekend trip. Fifteen minutes until we board. Oh yeah, we gotta take off. You downloaded the Td Ameritrade mobile app so you can quickly check the markets . Yeah, actually im taking one last look at my dashboard before we board. Excellent. 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[ applause ] its an honor to tell you that Liberty Mutual customizes your Car Insurance so you only pay for what you need. And now we need to get back to work. [ applause and band playing ] only pay for what you need. Liberty. Liberty. Liberty. Liberty. Charles breaking news, folks. President trump issuing a few pardons including Michael Milkin. He was the former junk bond king. He became famous for being the face of the 1980s financial scandals. Also today, President Trump, well hitting president obama on twitter after the former president declared credit for the booming economy. He said did you hear the latest con job. President obama is trying to take credit for the economic boom under the Trump Administration. He had the weakest recovery after a recession despite zero fed rate and massive quantitative easing. Monica crowley is here. It has been way too long. Way too long. Thanks for having me, charles. Charles three years under the Trump Administration, it is a new economy, anyone can feel that without being an tweet less author of this. A lot of folks in the Trump Administration found quite amusing. President obama could not deliver the booming economy after eight years. Three years after he left office he will try to take credit for this. The booming economy were seeing is not a coins against, charles. This is a direct result of President Trumps freedom economic agenda based on progrowth economic policies. Those four growths were based on four main pillars, tax cuts, regulatory relief American Energy around realigning International Trade. He is delivering on all of those things. The Economic Growth and job creation youre seeing which we didnt necessarily see in the previous administration, again it is not a coincidence or a surprise. Charles what is amazing to me, monica, you talk about the four pillars, the realigning International Trade is something that every administration, republican and democrat were afraid to go after. I think, in part because big businesses enjoyed the status quo. President trump was able to fight those fights and still deliver a Strong Economy simultaneously. No one saw that coming. Donald trump saw it coming. Donald trump has been talking about attempting to realign International Trade and get america back on fairer and more reciprocal trading partnerships with countries like china, for example, taking advantage of the United States for a very long time. And youre absolutely right. We need ad president with the guts to pull the trigger on these initiatives. This president not only has done that, but has realigned International Trade with china phase one. The usmca, bringing nafta into the 21st century by scrapping that and bringing in a new trade agreement. Taking on the europeans and others. His whole agenda is based on America First. America first trade deals, America First economic policies, economic freedom. He is delivering for the American Worker and the american people. Charles monica crowley, it is always a pleasure. Thank you very much. Well talk to you again real soon. You bet. Charles folks we have major breaking news. I want to get back to that. President trump issuing a pardon for Michael Milkin. Blake burman at the white house with more details. Blake. Reporter has been one person after the next, charles throughout the day from President Trump, granting a pardon or commutation of their sentence. Started this morning with several nfl legend here at the announcing eddie debartolo, former president of the San Francisco 49 others. The president would do the same for rod blagojevich, former governor of illinois. Bernie kerik as well, a fixture in new york city where you are. After that, moments ago we also learned Michael Milkin also received a pardon. Those four will grab a lot of spotlight whether youre in San Francisco, new york, in the investment world, sports world, whatever corner you might touch. Maybe you recognize one of those names but i would also point out, charles, the white house says says 11 different individuals today have been granted a pardon or sentence commutation, in total today by President Trump. This comes as the president is set to head out west. He is currently aboard air force one for a fourday, fourstate stop out to the west coast and one of those stops that the president is going to make is in nevada in a couple days which he will take place in a prisoner graduation program. The point there being, charles, the president long touted criminal Justice Reform and sort of the need to overhaul the thinking of the criminal justice system. And today, as the president is about to, in the days leading up to that event, announces the pardon and commutations for 11 different individuals, all walks of life. Charles . Charles cant wait to see the prison ceremony thing. It will be intriguing. Blake, thank you very much. Appreciate it. Stocks are sliding after apples revenue warning. Coming up why all warnings are not a sign to head for the hills. Why people are scrambling to give their College Diploma to a beer company for just 100 bucks. Well be right back. [ applause ] thank you. Its an honor to tell you that Liberty Mutual customizes your Car Insurance so you only pay for what you need. I love you only pay for what you need. Liberty. Liberty. Liberty. Liberty. The business of hard work. Hustle. And high fives. Modernized comfort inns and suites have been refreshed because our business is you. Get the lowest price guaranteed on all Choice Hotels when you book direct at choicehotels. Com. My body is truly powerful. 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Here is the thing that really spooked investors. When they announced they would no longer break out the individual sales for iphones, ipads, and imacs. That fueled all kind of negative speculation about the peak of iphone sales the stock tumbled inn that session. Apple warned they would miss revenue guidance for the current quarter. They said two reasons. Impact of coronavirus. The first, iphone supply. Inability to meet demand from closed stores because of slower traffic. The stock is down a little bit less than 3 all day long. Well, this is half of the initial reaction if we go back to november of 2018. Im bringing this up investors need to understand what drives headlines, i got to be honest, often are hamfisted, and often fall short of nuanced details you need to make investing decisions. Be careful of kneejerk reactions to the headlines and sometimes the breathless reporting that goes with them. Meanwhile prayers are going out to nascar driver ryan newman after a terrifying crash at the daytona 500. Here is hamlin up the outside crash into the wall, into the air goes newman Charles Newman losing control on the final lap and bumped and going airborne. His injuries are not lifethreatening but listed in serious condition. President trump tweeted, praying for ryan newman, a great nascar driver. Praying for newman. Denny hamlin had his third daytona win. I had no idea of the severity of the crash until we got to victory lane. We wish ryan a speedily recovery. Mike bloomberg, after 24 hours of a clip of him belittling farmers. What does this mean for the debate . Elon musk slamming bill gates after he bought an electric porsche. There is a bigger takeaway, that gates accidentally made a argument for fossil fuels. Everything your trip needs, for everyone you love. Expedia. For everyone you love. Apps except work. Rywhere. Why is that . Is it because people love filling out forms . Maybe they like checking with their supervisor to see how much Vacation Time they have. Or sending corporate their expense reports. Ill let you in on a little secret. They dont. By empowering employees to manage their own tasks, paycom frees you to focus on the business of business. To learn more, visit paycom. Com there is this enormous cohort of brac and latino males aged lets say, 16 to 25, that dont have jobs, dont have any prospects, dont know how to find jobs, dont know that, what their skillsets are, dont know how to behave in the work place. Charles old remarks once again coming back to bite michael bloomberg. This time the billionaire is caught disparaging young blacks and latinos promoting a initiative to help as mayor of new york city. Is this who woke democrats can think beat donald trump . Joining me to debate, trump 2020 Advisory Board member, Madison Gesiotto and radio show host rashad ritchie. Madison, well start out with you. New poll with bloomberg rocketing up to the second position. More and more liberal folks on programs, grapple with the idea that he is lesser evil to borrow a term than donald trump . When you look at the results the president has produced i dont think any of democrats that could potentially become the nominee that are out there right now could beat him but when it comes toe bloomberg specifically, this guy will not get people out to vote if he were to become that nominee. He is hated by many. He was a terrible mayor. The comments keep coming out are getting worse, whether the race comments or in the comments farming doesnt take much intelligence. Flatout offensive. We live in hyperpartisan world people are easily offended and taken out of cone tex. There is no context where that cannot be offensive. He is not a likeable guy that can win the nomination. The answer that comes out here can you buy a nomination . That is what well see when it comes to the democrats in 2020. Charles your thoughts. Bloomberg is problematic candidate and so was trump. Im no fan of bloomberg. What he said and what he has done by way of policy, racist and unconstitutional. He has to figure out a way to overcome that. I dont think he has done a good job so far, when we talk about policies like stop and frisker, obviously an constitutional, racist and agreed to by many conservatives. As a matter of fact in 2016 President Trump himself said publicly he supported stopandfrisk but he calls bloomberg racist doing the same thing. Im saying this in an up and down ballot where you have bloomberg and trump, some of these negatives that were talking about in the democratic primary actually cancel themselves out because both candidates have had a history of extreme inappropriate comments. Charles 720,000 black and hispanics are stopped and frisked and the other person said, i like, that might be for that. Theyre the equal . Youre saying one person saying something and one person actually dog it rashad you say that cancels each other out. Youre okay with that. A im not owe cac with any of it. I dont like bloomberg as candidate for any party period. I didnt like trump either for some of his policies before. Discriminating against black people getting housing. I didnt like that policy but a lot of people were okay forgiving it. Charles this certain arrogance, overall arrogance . Farming is not a big deal, you take a seed, plant it, water it, up comes the corn . Over this weekend we read horrific articles about the way women were treated and 40 lawsuits based on you know, harrassment of women in the work place. I just, it just, if we want a president who is connected to people, madison. It just feels tough. He is an example of elitism at its finest. Someone who looks down on people not just because of their race, because of their gender but some other things, where theyre from. People from ohio in the midwest are farmers apparently cant be that smart according to bloomberg. It is simply wrong. While he is up there on the democratic debate stage after his surge tomorrow trying to explain all the wrongs he has done through his actions and through his policies President Trump is going to be right here. He will be in phoenix, arizona. He will talk about his great successes. Lets talk about the women that accused trump as well. Charles let me ask you this, rashad, Bernie Sanders is at 31 in the same poll. How come everyone is writing him off . How come everyone is saying no matter what he will be the nominee despite the fact he is polling extremely well nationally, he could win nevada, he could win california, he could win texas, come in strong second in south carolina, how can they take this from him. I think Bernie Sanders is probably the only candidate equally feared by establishment democrats and republicans at the same time. He represents an extreme on the spectrum of democratic politics. I think that helps him in some of these more progressive or liberal states in a primary but there are democratic voters who feel he is too much of a contrast to President Trump in an era where youre really looking for middle of the road candidates or middle of the road policies in order to bring back some of those disenfranchised voters from the last president ial cycle. Charles if im somehow, if i was in a position to pull the strings in the Democratic Party im trying to figure out to get Amy Klobuchar up the scale quickly to be quite honest with you. Madison, rashad, i appreciate the conversations. Thank you both very much. Thank you, charles. Turns out a day of forgiveness at the white house. President trump commuting the prison sentence for former governor of illinois, rod blagojevich. Issued pardons to financeer michael milken, former San Francisco 49ers owner eddie debartolo, former Police Commissioner bernard kerik. Joining me is deroy murdoch. One caught my attention. Angela stanton, over came difficult childhood, strifed for better life. Served a sentence for being part of stealing a vehicle ring. I think the point us that these 11 folks, deroy, covered the spectrum. And they cover the spectrum of all americans. Suggests that whether youre powerful mogul you can make mistakes and you pay a price for it or whether youre someone gross up in difficult economic environment and make mistakes that is overcome it. That is easier to swallow, pay a price around eventually get redeemed eventually. Rather than blagojevich pardoned all by himself that would be totally inexcusable. During the break i said two prisoners in jail cell in illinois, two of them said, food was better when you were governor. Charles use that joke in the last three or four governors. They all wind up there. Blagojevich is a crook. Public corruption is something serious. Fraud needs to be stamped out. You want to be nice to his family, i see charles what about milken, blagojevich, debartolo, jr. , you have former players under him, jerry rice was there. Charles haley. Some really wellknown folks who have great standing in the community and themselves saying okay this guy committed a felony in 1998. Is it time for to us forgive . I think if you have 11 people across the board from as you say wealthy people to poor people involved in variety of Different Things that is more of a message of forgiveness and redemption rather than let the one guy. Charles talk about the message of the Democratic Party. I read a great article over the weekend about diversity coming into the election was supposed to be their strength. Now seems to be, thread pulling the whole party apart. Perhaps they are being victimized by their own decades effort to create a wedge in this country based on politics of identity. It is coming back to haunt them it feels like. To a degree. The whole idea democrats are supposed to be diverse. Were basically left with a bunch of white people. How about that . Democratic party so white. Charles and rich. And rich. Bernie sanders mr. Socialist turns out to be a owner of three homes. Charles buttigieg who is now slipping off the top. It is going to be ultimately a battle of a couple of rich folks but again, how does this happen . How, is it single focus deflecting something on the Republican Party . This is what i dont get. No one saw this coming. They seem to focus on racial and gender diversity and not idea diversity. We hear about moderate lane like klobuchar and biden. There is nothing moderate about them. This is solid left party. I looked at vote scores in the senate when biden sanders, klobuchar in there. Klobuchar miss moderate got 100 as well. She is far left as sanders. Biden got 80. Not middle of the road. National Taxpayers Union gave sanders 18, klobuchar a four, biden a two. Club for growth gave 8 to sanders, five for klobuchar and biden centrist, zero. Nothing centrist about getting zero for growth. These are far left people and diet socialists. Democrats need middle of the road ideas. Charles we have Michael Bloombergs war on wall street plan today. It is very similar to elizabeth warrens and Bernie Sanderss. It is clear whether they take it from sanders or not his imprint is on the party and shifted further left. I know investors dont want to see that. Absolutely not. Charles deroy, great to see you. Can cheap beer help a left h alleviate the debt crisis . They think so. Deroy is laughing. They will give you 100 bucks and they just want to borrow your College Diploma. Well be right back. Charles here is a question, it is not rhett tore cool. Woe you send your College Diploma to a total stranger for 100 bucks . That is what College Graduates are doing to natural light. They are borrowing the diploma from grads and giving money for their trouble. It is a campaign to raise awareness about college debt. We have daniel blake. Who came up with this idea. We worked on the idea for a while. We launched the program in 2018 giving away a Million Dollars. Last year we made a 10year, 10 milliondollar commitment. This is year three about the program. Were excited about it. The response has been tremendous. Charles when people send in the diplomas how long are you holding them for . Are they attaching notes to them . This is a Factfinding Mission of sorts i think for you . So well have it for about 12 months. Were not disclosing how we use them quite yet. When i tell you it will cause a lot of conversation once we unveil the what our plan is. Charles rising cost of student debt and costs to graduates. Exactly. This is one of the biggest issues facing people today. 45 million americans, 45 million americans have college debt. 1. 6 trillion and we want people to look back on their College Times fondly, not with the burden of debt that often follows. Charles it is tough to do unless you looking back at your College Times with a couple of beers. Yeah. Makes it a lot easier for sure. Charles you know what . I cant be sober to think about the debt without knocking a few back. It is so intriguing that a beer company would decide, hey this is a cause we want to be involved in. Just affects so many people. This is what the program is, putting people first. Anything we can do to help ease some of that burden were excited to do. The response is tremendous. This is something we really hang our hats on. A 10year, tern Million Dollar commitment to help ease the burden. Charles when can we expect to know more . Probably, may, june, time frame, well give you a little bit more about the program. What were running our stories contest. People can post a video online, showing how they would celebrate being debtfree. Well pick 25 winners, 40,000 each to help ease some of that burden. Charles love it. Appreciate it. President trump revving up the daytona 500 ratings to a fiveyear high on sunday. More than 11 Million People tuned in for the live event. Claman countdown will be joined by a very special guest, folks from the daytona 500 in the next hour. With me now, ashley webster, filling in for liz claman. Ashley, it was a remarkable race. The end of that race was just whoa. It was down to the last second, photo finish. Youre absolutely right. On the claman countdown well have a live interview with denny hamlin winner by a whisker. It was second straight, 30 told. It was a photo finish with a fiery wreck that sent driver ryan newman to the hospital. Well get a firsthand account from the winner himself. Well have angles about the coronavirus. How it is affecting multinational countries and companies, that is. Well focus on the oil and gas industry. What does that mean . Is the worlds economy slowing down . Does this mean were losing oil and gas . A lot coming up at the top of the hour. Charles wow, the winner of the daytona 500. We always make sure we tune in to the claman countdown. Wees specially will today, plus because youre hosting. Thank you, charles. Charles millenials are reporting sticker shock about the cost to raise a child. New study from bank of america. More than half said they underestimated the cost. Almost half feel theyre restrict what they can do financially due to the high cost associated with being a parent. According to the Agricultural Department latest report, the average cost almost 234,000 to raise a child from birth to 18. Of course it depend where you live because in the northeast the price tag is 264,000 or even higher. Tech giants go toetotoe. Why bill gates latest extravagant purchase has caught the ire of teslas elon musk. Cant wait to tell you about it. Every year, our analysts visit thousands of companies, in a multitude of countries, where we get to know the people that drive a companys growth and gain new perspectives. Thats why we go beyond the numbers. T. Rowe price. Invest with confidence. Thouwhich is Breast Cancer metastthat has spreadcer, to other parts of the body, are living in the moment and taking ibrance. Ibrance with an aromatase inhibitor is for postmenopausal women or for men with hr her2 metastatic Breast Cancer, as the first hormonal based therapy. Ibrance plus letrozole significantly delayed disease progression versus letrozole, and shrank tumors in over half of patients. Patients taking ibrance can develop low white blood cell counts which may cause serious infections that can lead to death. Ibrance may cause severe inflammation of the lungs that can lead to death. Tell your doctor right away if you have new or worsening symptoms, including trouble breathing, shortness of breath, cough, or chest pain. Before taking ibrance, tell your doctor if you have fever, chills, or other signs of infection, liver or kidney problems, are pregnant, breastfeeding, or plan to become pregnant. Common side effects include low red blood cell and low platelet counts, infections, tiredness, nausea, sore mouth, abnormalities in liver blood tests, diarrhea, hair thinning or loss, vomiting, rash, and loss of appetite. Be in your moment. Ask your doctor about ibrance. Charles the federal government auctioning off millions of dollars in bitcoin seized from criminals. The u. S. Marshal service is selling about 40 million worth at discounted prices r, giving potential investors a chance to get into the crypto on the cheap. Kristina partsinevelos has more details. Its pushed the price of bitcoin up today. Before this auction started it was about at 9,600. Now you can see its well above 10,000. We dont have the details as to who had been buying the blocks because the bidding officially ended just within this past hour. So that is an unfortunate situation. But bitcoin, there was 4,000 confiscated bitcoins from either criminals or civil cases totalling over 39 million. You can hear theres a phone next to me. But theres also catch22. If you wanted to be a bidder, you had to put a down payment of 200,000 to play the game. We did earlier today, i did speak with the author of cryptocurrency investing for dummies who broke it down and said its not the same like seizing a car and then selling the seized assets to the public. Its a little bit different when it comes to bitcoin. Listen in. No government, neither iran or the u. S. Or germany or any other government, can actually go and independently seize the currencies unless they take it from those criminals probably as a return for maybe i dont really know how they got their hands on those bitcoins. The issue is theres no central bank, theres no single administrator, aka, no government that rules over bitcoin or many of these cryptocurrencies which makes it very hard to regulate. However, treasury secretary Steve Mnuchin did say that regulations are going to be coming out soon for bitcoin and cryptocurrencies. We are still waiting for details on that. But that did cause some volatility in bitcoin, but still, look at that, still so far away from its high back in december 2017, hitting 19,650. Charles, i know, are you invested in any bitcoin related properties or assets . Charles not yet. Im watching it close. Kristina im watching it too. These bulls think in may, you are going to see the price skyrocket. I have seen numbers of 100,000. Charles i got to be honest, just from looking at the chart, its getting to a point of a major breakout. This is if you dont look at the underlying fundamentals at all. This is a great story. Thank you very much. Kristina thank you. Charles tensions in the tech world, folks, as elon musk is calling out bill gates. Sort of, right . Heres the thing. Musk took a shot at bill gates on social media, calling his fellow billionaire underwhelming after the microsoft cofounder says he bought an electric porsche. Gates has concerns over how far any electric car can go before they need a charge. I want to bring in david nelson. Interesting about this. Two things. I love the idea, elon musk is a counterpuncher so the fan base that said bill gates is a really smart guy. Elon musk chimed in, my conversations with bill gates has been underwhelming. Little bit of staining a sting porsche over tesla. Bill gates makes a good point. There are a couple challenges for electric cars. A lot of us want Sustainable Energy but dont want to destroy the American Economy in the process. The challenges for electric cars right now is the charge time. Thats a big part of it. And the range. Conquer those two problems, you got a better pathway. Charles thats what gates said. Gasoline is still a more dense Energy Source so while dirty, it is often simply more convenient if wanting to travel long distance, especially. He put a shot out for fossil fuels. A really cogent, nonpolitical shot out for the need for fossil fuels. It makes me wonder, these companies that are building giant ev plants all over the world, we dont mind if you want to build one in detroit or ohio, fine, but i dont know how they will make American Consumers buy these products. I think its the time frame. If you think you will have this, you will suddenly switch over in five years trn, its not likely. It will play out over the next 10, 15 years. But if its jammed down your throat to put in such a confined time frame, i dont think it will work. It would gut the American Economy and hurt the people you are trying to help. Charles we are smack dab in the middle of todays trading range. At one point the dow was off 280, we are down 140. The c. P. Effect has kicked in. I dont want you to mess it up for me. Nasdaq has gone positive. If you had said at the start of the day, with everyone hair on fire about apple, that technology would drive the nasdaq higher today, you would say no way. But amazon is up, facebook is up, nvidia is up, tesla is up, space is up, all of these stocks are higher. Whats going on . I think its simple. Asset classes compete for your dollars just like everything else. Right now with the rates as low as they are, you can push the multiple higher and stocks are still the better asset class. Charles ultimately, if someone is watching, they are not really versed in all the wall street lingo, you are saying if you look at valuations, you compare compare against Interest Rates which are so low, it justifies or if you had a tenyear rate around 5 , thats pretty attractive. Were nowhere near that. With rates at 1. 55, im going into an industrial stock, probably get 2. 8 , 3 dividend just to hang out and wait, i would rather do that. Charles earnings season, we are almost done. Its been for the most part fabulous. You know, but where we are now compared to those valuations, a lot of folks on wall street saying i want to sit on my hands. Im not bullish or bearish, just kind of sit on my manhands. It feels like the market grappling for a catalyst. So many people, particularly in the last year and a half, expect the market to go straight up. What do you say to investors that may say man, we are down 150 points today on the dow . Look, its all relative. 150 points in a single day, its almost nothing at this point. Its half a percent. Charles you are still fully vested . Is there any area you like more than any other . The only two areas i have trouble with, energy, i keep investing there and its good money after bad, at some point it will turn but hasnt for me. And health care. We have an election coming up right now. Charles i dont think Bernie Sanders rocketing to the top of the polls will help health care for now. You helped the show for sure. Thanks, appreciate it. Folks, we have cut the losses in half as i hand it over to ashley webster. Ashley thats the first line on my script here, charles. Wall street cutting losses. Thank you, charles. Late in this first session after the threeday president s day weekend, the coronavirus remains a Major Business concern, as apple cites that virus for a hit to the bottom line. You can see the dow, just off 148 points. Its come back from its morning i think we were off like 280 points at one point. The s p trying to get back to flatline and the nasdaq with a slight gain on the session. Meanwhile, while the markets search for clarity, President Trump passing out pardons. Why not. Some big names getting a pass on their legal