Transcripts For FBC Making Money With Charles Payne 20240711

To suck it up and concede the election. Well get reaction. Well hear from captain america, steve rogers is in the house. On how freedom isnt free all that and more on making money. Another. Charles another intriguing session, with tension in the air, financial media. Certainly not maxed for the market, right . You think about the socalled fear gauge, the vix for instance. It is coming down but you dont sense that, do you . Heres the thing, Goldman Sachs, their chief equity analysts look out for the roaring 20s, 2020s. Famed Hedge Fund Manager bill ackman betting against the market. We have gary kaltbaum, phil blancato, we have joanne feeney. Barry, whose side are you on here, who has it right, Goldman Sachs or bill ackman . Im still trying to figure out todays action, let alone the 2020s. Let me say this, i will give us a little bit of a negative, i wonder in the next year or so finally what Central Banks are doing is up and the markets finally, you know, give it the little repercussion for all the money printing. Valuations are on the upper end here. I know the economy is going to get better. Im just worried about valuations plus markets not caring about every little move they do. I think the markets may break out of range here. The dow, s p, nasdaq take out old highs. I think we get a big run into the end of the year, probably First Quarter of next year. Charles phil . [inaudible]. What you have right now culmination of things happening we had hoped for and now v the virus, two therapeutics or the virus being to a degree potentially controlled by two vaccines and two therapeutics that are about to be here a huge amount of money already stimulated and more to come and then the reality coming out of the recession even dr. Fauci said by april of next year well have widespread use of a vaccine. That means you come out of a recession. What happens in that type of environment is euphoria. Money coming into the market. People spending their cash. Investing in their 401 k . For that we get a heck of an up lift in the market thought most of next year. Charles right. Just in time for spring. That would be a heck of a combination. Joanne, how are you seeing isnt. Well, charles, you know, one thing people overlook when they look at the market, they see the headline number, s p 500 and dow. What people fail to look at what the rest of the market is doing. We know big indices are driven by top five names. What were looking at a firm, individual stocks are really important now, rather than funds perhaps. But you can avoid high flying names where valuations really charged higher. You can find some good values. There is awful lot of second cue lar growth happening out there. This is no time to run away from those opportunities. Weve been qualcomm for a while. We think that has a great runway ahead. There are smaller names. Were pretty optimistic as long as you pick your spots. Charles hold that thought. By the way im an advocate of individual stocks myself. I try to teach my audience all the time. Im grad you brought that up. Look at the upward bias. The market still moving to the upside. We know it hasnt been smooth sailing so far but the window of winners has widen. The largest amount of winners for the year t come at the expense of megacap stocks, of course a lot of these socalled momentum darlings. You have three dynamics. You hit all that were grappling with, nearterm volatility. Mixed Government People obviously like. Vaccine, second wave of the covid virus. I watched the action. I listened to commentary. Jpmorgan two weeks ago saying tech is dead. I wonder if the moves in these markets, are these individual sectors, to your point, joanne, are some of these taken out to the woodshed for a quick correction or being taken to the outhouse . With that i want to introduce a new hopefully fun segment, quickly your opinion, outhouse or woodshed . Start with the big five megacaps. Go to you, phil, is the recent weakness in the big five megacaps a move to the woodshed or the outhouse . Woodshed. Charles gary . I think september 3rd was a top for most of them and i think they will be rangebound or worse for many months to come. I just think they got overowned, overlooked, over leverage the. Valuations are ridiculous. Charles outhouse. Outhouse. For now. Charles joanne . I. Would say woodshed for a few of them. Microsoft, google, apple a little bit of pull back, okay. Some other names, amazon, facebook, i think outhouse for a while. Charles momentum names, right . These are the other names right below them. Nvidias, netflix of the world. Back to you, phil, woodshed or outhouse . Outhouse. These were stay at home names. As we come out of the recession they will fall off. Charles gary k. . I will give most of them an outhouse right now. They have had gargantuan runs. I think the vaccine changed everything. Were going more towards value away from growth which by the way was the biggest percentage versus the market since 1999. Charles joanne . Again. Got to pick your spots those two you mentioned i would say outhouse. Charles i will skip the pure lockdown names because i think that would also fall in, you all agree youre all in the outhouse. They made their tops for the year, perhaps for a long time. Other end of the spectrum, reopening names which come to life this week. Some giving back profits today, though. Phil, the coast clear, woodshed or outhouse . Without a doubt, woodshed. This is my biggest theme rotation to value especially midcaps and banks. Absolute without a doubt, woodshed. This is the opportunity. Dont miss it. Retail, restaurants, tourism. This is your chance. Jump in now. Charles they took their pounding. They learned their lesson. Back on, put them in your portfolio. Gary k. . Im with phil. It is simple, if we get back to normality, you have stocks still down 60, 70 from the highs. Cruise lines are still not even cruising. Once they get going they will get moving. I think theyre in good shape. Im with phil on that. Charles joanne . Yeah. No, weve been in some of these we call smart cyclicals for a little while. They got beaten up. They will be really leverage the economic recovery. That vaccine will help spread that along despite the unfortunate rise in cases were seeing right now. Take advantage of some really attractive valuations. Charles you know what is amazing with all of those names is how quickly they come back. 10, 20, 30 moves in a single session. Imagine what they would do once the coast is really clear. Software and cloud, start with you, gary k. You made our viewers a lot of money in the sector over the year. Every time they get beaten down from here, you have to wonder more, is this final moment, have they really peaked . I dont think they have peaked. I think there is more to go but i really do believe a big part of their move to the upside has been had for now. That doesnt mean they go into bear markets but they can sit around, six months, nine months, and get going again. They again got too much to the upside. There is nothing wrong with settling down for a while. Charles all righty. Joanne . Well again depends where you look. Companies like brought come, qualcomm, some other infrastructure providers have a long runway. We are just getting 5g, that will drive internet traffic and cellular traffic. Were seeing development in china. No, i think there is a lot of good growth ahead of us in some cloud companies. You have to pick your places. Health care stocks, phil a mixed bag. They had a good week early. Some of the hospital names pulling back on the covid news. Outhouse or woodshed for that group. Woodshed, with the Affordable Care act closely very supportive of the biden administration. A opportunity to rotate where were going as a population from demographics and supported by the federal government. Here is the opportunity. Charles woodshed, you buy i had on dips, folks. It was a fun segment. Ive to the woodshed and the outhouse, one person told me they both get cold in the winner time. It was a fun segment. I hope everyone took notes. Across the country americans are honoring veterans. At 2 45 im talking about why we should thank vets today, in fact every day, yes, freedom is not free. Now we know what the v stands for one of the biggest names on wall street when it comes to the economy and the stock market. It has something to do with a vaccine. I will ask economist peter morici to react on that. Hes next. For over 30 years, lexus has been celebrating driveway moments. Heres to one more, the lexus december to remember sales event. Lease the 2021 is 300 for 339 a month for 36 months and well make your first months payment. Experience amazing at your lexus dealer. Look limu someone out there aneeds help customizing first months payment. Their Car Insurance with liberty mutual, so they only pay for what they need. False alarm. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Charles Goldman Sachs getting very bullish, forecasting a vshaped economic recovery and theyre lending much of the v, the word v rather to the vaccine, the vaccine progress in fact we just talked about, adding in stimulus and other factors, goldman modeling for 5. 3 gdp next year. Remember the consensus is 3. 8 . I want to bring in university of maryland economist peter morici. Peter, are you as optimistic as goldman seems to be . It all depends when we get a vaccine and how quickly mr. Biden can get cooperation with congress in regard to a stimulus. Whatever happens in that regard, remember 15 of economy has been particularly toughly hit and they do need assistance and readjusting. We had lots of businesses close and so forth. We need to find ways to retrain and move people around. But the other 85 will really take off. Charles right. I want to get to that as a followup question but more specifically on the vaccine news, we know distribution will take a while to ramp up, right . Maybe a hockey stick kind of thing but, i think the notion that a vaccine is working will spur people to go out there anyway. But the stimulus part, nancy pelosi turned down 1. 8 trillion. It is unlikely they will get that again. How much do they need for to us have the sort of rosy 2021. About a trillion 1 2. My feeling we need to replace revenues state and local governments have lost, without bailing out the debt from the past. That is about 480 billion. We need extended Unemployment Insurance for people permanently unemployed. It isnt like if youre in new york you lost your job as an Airline Pilot you had another alternative immediately. People will need time to adjust. They need an open economy to enter. We dont have a open economy just yet. That will be in the range of what we need. I dont think well need stimulus for every household again. Charles that is interesting. There are to your point pockets of society that will continue to suffer. According to the world tourism council, we might lose nine million jobs in the tourism and travel sector. Covid restrictions going on just before our show, Governor Cuomo will close down gyms and bars at 10 00 p. M. By the same token, we mentioned goldman, their Small Business Confidence Survey on survivability has slipped to 60 from 74 . That is just in may. When Small Businesses worry you have to worry. Is there help that they dont blanket the whole country with a bunch of checks . The entities people that need it can get it and get it quickly . First of all, if you give the money to the people unemployed that is very surgical. We know how to do it. We actually did it before. We just let it lapse. The Paycheck Protection Program had a lot of fraud. That is coming out but that should not make, distract us from the fact that it did help a lot of businesses. Everything was too short everything was done on the base cities were shutting down for six weeks, then were reopening the economy. That is just not the case. This is going to be the kind of a problem that takes a year or two to resolve. Well have to structure benefits so they do apply to those who can use them best but also that they have the duration that is necessary. Charles right. After all what will we do when all the student loan abatement, mortgage abatement, rent abatement is over . Everything was structured to end at the end of this year more or less. That is absurd. Charles on that note, one of the things came out of this pandemic, the way we addressed it, coupled with the way the Federal Reserve prints money to help banks, ideas like universal basic income. Youre sounding very sympathetic to people that are in trouble. Would you go that far, just to pay people, if theyre not working, sort of basic income . Oh, i wouldnt go that far. My feeling we need extended Unemployment Benefits but there has to be an end point. We have to realistically looking at the fact people will have to retrain and relocate, assist that. The notion well give people 2,000 a month or some figure, whatever aoc seems to think is in fashion this month and that somehow they will then miraculously turn around and rebuild their lives, someone who lost their job in a Sandwich Shop will teach themselves how to code is absurd. This is going to take more targeted intervention than that. I honestly dont hear either this administration or the next one talking in those terms. Charles peter morici, thank you very much. Always appreciate it. Folks, speaking of which, nancy pelosi refusing to denounce socialism and with the squad set to expand in numbers progressive candidates winning you have to ask yourself how much aoc and company will wield . Well ask deneen borelli. States dealing with a second wave of the coronavirus but is it the same as the first wave . Im asking dr. Nicole saphier. Shes next. So we can spend a bit today, knowing were prepared for tomorrow. Wow dad, do you think you overdid it maybe . I dont think so. What do you think, peanut . Nope honey, do you think we overdid it . Overdid what . See . We dont think so, son. Technically, grandparents cant overdo it. Its impossible. Well planned, well invested, well protected. Voya. Be confident to and through retirement. Since pioneering the suv in 1935, the chevy suburban has carried many things. Nothing more important than family. Introducing the most versatile and advanced chevy suburban and tahoe ever. Hi, my name is sam davis and im going to tell you about exciting plans available to anyone with medicare. Many plans provide broad coverage and still may save you money on monthly premiums and Prescription Drugs. With original medicare youre covered for hospital stays and Doctor Office visits, but you have to meet a deductible for each and then, youre still responsible for 20 percent of the cost. Next, lets look at a Medicare Supplement plan. As you can see they cover the same things as original medicare, and they also cover your medicare deductibles and coinsurance, but they often have higher monthly premiums and no Prescription Drug coverage. Now, lets take a look a humanas Medicare Advantage plans. With a humana medicare plan, hospital stays, Doctor Office visits, and medicare deductibles are covered. And, of course, most humana Medicare Advantage plans include Prescription Drug coverage. In fact, in 2019, humana Medicare Advantage Prescription Drug plan members saved and estimated 7,800 dollars on average on their prescription costs. Most humana Medicare Advantage plans include a Silver Sneakers Fitness Program at no extra cost. Dental and vision coverage is now included with most humana Medicare Advantage plans, and you get telehealth coverage with a zero dollar copay. You get all this for as low as a zero dollar monthly plan premium in many areas, and your doctor and hospital may already be a part of humanas large network. If you want the facts, call right now for the free decision guide from humana. There is no obligation, so call the number on your screen right now to see if your doctor is in our network, to find out if you can save on your prescriptions, and to get our free decision guide. Humana a more human way to healthcare. From now on suck it up because this is ridiculous. You not sure that he won. You bringing into question all these americans who voted legally, came out and stood and voted. How dare you question it. Charles that was the view cohost Whoopi Goldberg blasting republicans telling Trump Supporters to suck it up. She werent on to say hillary sucked it up and President Trump should do the same. Deneen borelli, your thoughts on what we just saw . Charles, look, first of all, thank you for your service. Happy veterans day. Whoopi goldberg is nothing but a liberal political hack, charles. This is not over. There are apple samples of, and examples of voter fraud that has gone on with this election. What we need to do is allow the process to play out. The president and his legal team, they are gathering evidence. There are lawsuits that have been launched and look, we have seen, i have read about fraud ranging anywhere from the software changing the voter tally to dead people voting, to ballots being counted that should not have been counted because they were late. So the process needs to play out. If you were joe biden wouldnt you want investigations to take place that so that he could say and brag that i won this fair and square . What is the problem with democrats not wanting this process to play out . Charles no, ironically, at least when we saw joe biden yesterday he was not complain about it as much as the media was. They asked him over and over enough, he will Say Something you know, sort of to disPresident Trump but how long does the process go on, you know, because obviously we know al gore went offer a month. Is that sort of the time line here that you think . I dont know what the timeline should be charles, but i would say this, with al gore, what they allowed, 30 something days for the recount to take place in florida. When you mentioned the media, the antitrump media, charles, the media with President Trump has been over 90 negative and so we continue to hear from day one all of this nonsense with President Trump and then fast forward to today how the media is not on the president s side but is on the side of democrats. Charles yeah. I mean honestly i have, my cousin she texted me this morning about this. You know very frantically, i have to remind her, President Trump will be president until january. They will get this all sorted out. Meanwhile, i want to ask you about House Speaker nancy pelosi refusing to denounce socialism to lock down votes. She wants to keep the job. It wasnt smooth last time. She had to fight for it. She has not answered any fox news questions whether or not she opposes the ideology of socialism. How long, until this party implodes because aoc is flexing her muscles again and she has got greater backup this time . No, youre right around pelosi is not going to denounce socialism or socialist ideas because she will take off her radical base and her radical house members like ocasiocortez like her pals. Pelosi only cares about holding on to the gavel, charles. That is all she cares about. With socialist ideas and policies they are damaging the Democrat Party anywhere from the Green New Deal to killing the fossil fuel industry, open borders, defunding the police, these are radical, outrageous policies that are not resonating with americans and when you look at the fact that folks who support this nonsense theyre not being directly affected by it at the moment. So until it comes knocking on their door, theyre going to say, oh, my goodness, what have i done . Charles yeah. But then it will be too late. I got to let you go, i will share with you my theory that Political Panel last week said i was nuts. Stacey abrams is speaker of the house. That is my prediction. Deneen, leave it there but remember you heard it first. Texas has become the first u. S. State with more than a million confirmed coronavirus cases. Nationally the u. S. Hit a Record Number of hospitalizations, surpassing a million new confirmed cases just this month. No question the u. S. Is dealing with a second wave of the virus, how similar is it to the first wave . Jackie deangelis live in the newsroom with the answers. Jackie. Reporter good afternoon to you, charles. Here is what we know so far, the u. S. Confirmed a record high, 930,989 new virus infections. Hospitalizations are not like they were in the beginning they did hit a peak of 61,964. Deaths, an average of 930 a day. So that is lower than the peak of 2200 back in april. Treatments, they are more available. Doctors know how to treat the virus better. So more people are coming out of the intensive care unit alive. You mentioned texas. It is a state that is really struggling. It did surpass the one million cases mark and hospital surges. One example where less lock could have possibly hastened the spread of the virus but here in new york city, i know this is not apples to apples because that is a state this, is a city, were looking at a pretty shutdown economy and the coronavirus transmission rate was over 3 this week for the First Time Since may. But you look at the hospitalizations. It was a tweet from andrew cuomo and you can see the staggering dip that we saw from the peak. So while new york isnt necessarily as bad as the state of texas, you can debate if lockdowns are actually the prevailing factor in the spread. Some say theyre not. I will just reference cuomos two recent tweets as well talking about new lockdowns in new york state, starting friday at 10 00 p. M. You mentioned the gyms and the bars. They have to close at 10 00. Gaterrings in private residences are limped to 10 people too. We pulling the reins back even further, charles. Charles jackie, thank you very much. For more on this i want to bring in fox news medical contributor dr. Nicole saphier. You know, doctor, i dont think well really know all the answers until long after this is done and looked at. I looked at, you know, just two, three months ago, the media heralded how great europe handled it and how dumb we handled it. They had a surge. You heard how badly sweden handled it. Look at their hospitalizations and death rates versus the rest europe. Maybe they were right. What is the difference between this wave and the first wave, if you can. How much time do you have, charles. This is a lot to unpack right there. Talk about it. Cases are absolutely on the rise throughout the United States. Now it is widespread instead of regional as before. Were in the second wave but of a widespread pandemic, not just in like the northeast or the southwest. You know while the increased cases can account for some of those, those increased testing can account for some of those rise in cases we have to look to the hospitalizations as well as the per capita positivity rate. When you look at the hospitalizations those are also on the rise but here is the thing, charles. This is where it gets a little bit of good news. The number of hospitalized, 62,000 right now. That is spread out through the entire country. What we saw earlier on the pandemic in the spring, specifically here in the northeast was a large amount of hospitalized patients all in one reason. Why you saw overflowing of the hospitals. You had makeshift hospital beds. It us spread out across the country. Charles right. If you look at north dakota. North dakota said they have so Many Health Care personnel become infected with covid, if they are atom tick, still contagious theyre asking them to till work because theyre concerned they will have a shortage of people. So, whirls, what am i saying here . A lot of cases here, people being hospitalized. We made headway in early treatments and intern essentials interventions but nowhere near the heard herd immunity. Best guess charles i cant hear dr. Saphier. I cant hear her. Dr. Saphier i dont know where you lost me, charles. Charles 70 herd immunity. We need to be responsible going through the winter months. Limit indoor gatherings and wear masks when necessary. Until we get the vaccine. The vaccine will be crucial during the springtime months to get back to normalcy. Charles i have him the time to go, tv time, let me squeeze this in. We like to say herd immunity but do dont around anyone . How do we get herd immunity . You talked about hospitalizations, not necessarily death rates. I understand it is particularly low, 99 plus survival rate. I think younger folks, college age people, them, they feel like if they get it they will survive it. So where is the medium . Where do we find a place where you can, you know, have the economy moving along enough that we dont go through all the other things, all the other pains that we went through in addition to covid at the beginning of this . Well if we take individual responsibilities to lower the risk of transmission, meaning not having large house parties, then our economy can stay open. Our places of business can stay open if were being responsible. Yes, death rate, thank goodness is about, fatality rate is probably less than 1 when it comes to the virus, which we estimated all along. However, charles, death is not the only metric. When were looking at things, there is a lot of long term sequel la, were finding covid19 infections and that is at any age. Charles dr. Saphier, thank you very much. Always appreciate you helping us on this critical issue. Thank you, charles. Charles meanwhile, folks the u. S. Grappling with a second wave of covid19. The cdc issuing new guidance about masks and touting some surprising economic benefits but my next market guests, one of my regulars is not buying the number. He is going to explain it next. I knew about the tremors. But when i started seeing things, i didnt know what was happening. So i kept it in. He started believing things that werent true. I knew something was wrong. But i didnt say a word. During the course of their disease around 50 of people with parkinsons may experience hallucinations or delusions. But now, doctors are prescribing nuplazid. The only fda approved medicine. Proven to significantly reduce hallucinations and delusions related to parkinsons. Dont take nuplazid if you are allergic to its ingredients. Nuplazid can increase the risk of death in elderly people with dementiarelated psychosis and is not for treating symptoms unrelated to parkinsons disease. Nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. Tell your doctor about any changes in medicines youre taking. The most common side effects are swelling of the arms and legs and confusion. We spoke up and it made all the difference. Ask your parkinsons specialist about nuplazid. Abut what if there was a Hidden Treasure . A prolific area,evada. Untouched for decades waiting to be rediscovered . What if one gold explorer is set to unearth the potential and transform the area into the next big nevada gold district . Corvus gold, gold rediscovered. Charles new guidance out by the cdc saying wearing a mask not only has Health Benefits but economic benefits as well. I want to bring in Cheryl Casone who has the details. So tell us about these benefits, cheryl. Reporter you know it is a onetwo punch. First let me show you the numbers. The new briefing from the cdc if we increase universal mask wearing, by 15 , it would reduce economic losses by up to one trillion dollars. They also said wearing a face mask doesnt just protect others it protects the person wearing it. This is the strongest endorsement yet of maskwearing from them. They say quote, experimental, epidemiological data support community masking to reduce the spread of sars covid 2. The more people wear them, the less spread in the community. For the economic benefit, the masks prevent need for further lockdowns which is 5 of gdp. Protecting the individual, protection. The cdc said seven studies cloth masked materials do reduce exposure to infectious droplet coming at you. This as the virus is worsening, a million new cases so much. Daily infections, more than 100,000 a day. The u. S. Had 10. 2 million coronavirus cases and 142,000 deaths according to Johns Hopkins university, charles. If this is the road to economic improvement, health improvement, i think it should be taken pretty seriously, charles. Charles oh, absolutely. Cheryl, thank you very much. Here to help us with this, the Bahnsen Group cio david bahnsen. David, connect the dots how we should handle the virus, the economy, masks, mask mandates and all of that stuff . Well the issue of masks is a nobrainer to me. I dont understand all the controversy around it. I think people when theyre around other people should be careful to wear masks. I think the thing hurt the cause the most is the overzealous of the promask crowd. They have kind of recommended certain things intuitively seem silly to people. Then their compliance break down all together but the investment lesson in the segment youre doing right now, charles, the peoples reliance on models. They use models that have big inputs and you can change the outcome dramatically based on what you tell the model and then they come back and say it will be a trillion dollars of savings, or we need 15 or 18 . It is not that it is totally made up but it is accurate in the model but the model has massive bandwidth of range ever outcomes. Well this is how a lot of investors end up approaching things. Economists offer these models that dictate these huge different outcomes and it just simply doesnt work that way. People have got to have a better plan than what our experts have given us, with the models like this one. Charles is that akin to sort of the, you know, the use of algorithms . The way they react and people saying hey, it is not me it is the algorithm but someone had to program it. Of course when you do that there will be certain biases tied into that . It is exactly like that. Of course sometimes with an algorithm something can be off by. 100 of a percent and totally mess everything up. In this case things are off by ranges, of 10, 20, 30 . Imagine how much it kind of changes things . I think on the basic level by masks, common sense lets wear them and lets be healthy and protect one another. But the idea of trying to apply economic outcomes with a dollar sign based on what a model says is really silly. Charles two things on the mask. You mentioned some of the other, ancillary things that pro mask crowd would like to have. I agree with you. I dont think the beef has ever been with the mask per se but the worry or concerns about the manned state. If 100 of americans agree you wear a mask. There is a mandate, okay. But what happens only 80 of the American Public agrees with something or 60 . One day 40 , still the government already been given the go ahead to use mandates . I think a lot of americans are so afraid of Big Government and government power, david, that the abuse the use of mandates, particularly on a federal level is what is scaring people . I completely agree. I also think a mandate would backfire in a profound way because we would still have plenty of covid spread with a mask mandate because masks are not perfect either. You know, everyone can just intuitively know you cannot fully stop a viral spread with this kind of infectiousness just from wearing a paper mask over your mouth. What it would do is break down confidence in the whole thing. You get less compliance, not more compliance. This is one of those areas where im really sorry that people dont like it but it requires individual responsibility and a grown up realization that things in life are not perfect. Wear the mask, wash your hand as lot, as far as the real lowhanging fruit to hit the economic many pack of could have individual. Neil it is opening the economy. That is what policymakers should be focusing on. Charles i have less than a minute, you were adamant about the Energy Industry thriving, not just surviving. They are the biggest winners in since the election. Your over all assessment what the stock market is saying about the election outcome and what we have to look forward to. The sort of rotation out of socalled work from home stocks and do a lot of things like energy and financials that were beat up under the pretense we were going to be locked down forever. Common sense is coming back into valuations. The reality we would never be shut down forever. The world will have a sense of normalcy. That normalcy will involve things like oil and gas and banks. Therefore the market is starting to reflect that better, charles. Charles david bahnsen. Always appreciate your conversations. Really do. Thank you my man. President trump attending a veterans day ceremony in arlington cemetery. Why we should thank a veteran today, especially today, because you know freedom is just not free. When you switch to xfinity mobile, youre choosing to get connected to the most Reliable Network nationwide, now with 5g included. Discover how to save up to 400 a year with shared data starting at 15 a month, or get the lowest price for one line of unlimited. Come into your local xfinity store to make the most of your mobile experience. You can shop the latest phones, bring your own device, or trade in for extra savings. Thats simple, easy, awesome. Visit your local xfinity store today to ask, shop, discover the latest on xfinity mobile. Charles a short time ago President Trump visiting Arlington National cemetery to lay a wreath at the tomb of the unknown soldier in honor of veterans day. I want to bring in retired Lieutenant Commander steve rogers, also known as captain america. Steve, it has been too long, my friend. I want to get your thoughts on this veterans day, where we are as a nation. Certainly we embrace and we love our vets, show them love, more than we had at anytime i think in the past. That has got to be a good thing and a good feeling for someone like you . Charles, it is, you said something before that is very, very true. Veterans day should be every day. And i have urged people around the country when you see a veteran with his baseball cap on, especially the world war ii vets or their jackets on, go up to them to say thank you. Charles at that happened to me today twice. I was Walking Around at a store. I had my baseball cap on. Young people, high schoolkids came up to me, thank you, sir for your service. One kid saluted me. The fact of the matter, youre right, it is so touching it hits you right in the heart. It is muchneeded. Charles im getting goosebumps listening to you talk about that, steve. Thats beautiful. To think young people recognize that we have come a long way in this country and you know, i just hope we stay this way. Yes, charles. Charles really honorndllyy eve,lie t it,ee. Ntaotndnd taknde tnd indt f grt antano switcears aea leittle bbiecau bec bec if pnt biden b ifen becom pnt,ntouou know,kn a oncelect ere ceified,ifhad,if dhao ifhao hany pp wit res you kyow becseauoreau you eran,sw ierm crneded aut a remoro,mo,he t feelingha tha identen bidid w be wantoo be mor m m e mng mng wh thehh w, ano be at their sposable m wa tge backkntko tird. Rgr. He samhee hemeugug militaidnt far far tt wtel at least when it came to incomes. In 2009, there was a pay raise of 3. 9 . By the time the obamabiden team left office, that pay raise was only 1. 3 a year. It has gone up every single year since President Trump has been in office from 2. 1 to 3. 1 . Forget about the equipment was dilapidated. How do you think the men and women in military would fare under a biden presidency . I could tell you a biden presidency will never be able to fill the shoes of a Trump Presidency with regard to the United States military. Those men and women love President Trump. He took care of them. He took care of their families. He restored pride. It was so much needed in the military to bring that pride back to the people, protecting this nation. And you know what . He also, charles, took care of their families. And i think one of the greatest things he did, he kept his word, he is trying to and has successfully kept us out of wars. We have no wars under this administration. Charles right. Showed restraint and protected the troops. Charles im glad you brought that up. Robert gates who by the way defense secretary under obamabiden he wrote in his memoirs biden, biden was a good man but he had been wrong on nearly every major Foreign Policy National Security issue for the past four decades. People worried about the neocons in the republican party. Again bidens need for foreign leaders to embrace us, to say they like us and to of course to refund, start to pile more money into nato, are you concerned we would be at greater risk of interring interventions of foreign wars now . Yes i am because it is president clear to me that mr. Biden is not doing what President Trump has successfully done and thats keeping america first. I have looked at some of the policies and i am concerned that america is no longer going to be first but be second or maybe third in the eyes of a biden administration. So im just believing as we move along, i certainly want the president to be successful and in his endeavors. But i got to tell you something what he did for this country no one will be able to fill his shoes for a very long time. Charles steve rogers, it has been too long. Thank you for your service. Well talk to you again real soon. Thank you. Charles stocks are thanks. Starting to wane a little bit as we head into the final hour of trading. Coming up were looking out for your money, your portfolio, particularly as earnings season winds down. What is this saying . What should you be buying . Well be right back. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. Lexus has been celebrating driveway moments. Heres to one more, the lexus december to remember sales event. Get 0 financing on all new 2020 and 2021 lexus models. Experience amazing at your lexus dealer. But when i started seeing things, i didnt know what was happening. So i kept it in. He started believing things that werent true. I knew something was wrong. But i didnt say a word. During the course of their disease around 50 of people with parkinsons may experience hallucinations or delusions. But now, doctors are prescribing nuplazid. The only fda approved medicine. Proven to significantly reduce hallucinations and delusions related to parkinsons. Dont take nuplazid if you are allergic to its ingredients. Nuplazid can increase the risk of death in elderly people with dementiarelated psychosis and is not for treating symptoms unrelated to parkinsons disease. Nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. Tell your doctor about any changes in medicines youre taking. The most common side effects are swelling of the arms and legs and confusion. We spoke up and it made all the difference. Ask your parkinsons specialist about nuplazid. Ask yobefore money, peoplealist tools, cattle, grain, even shells represented value. Then currency came along. They made it out of copper, gold, silver, wampum. Soon people decided to put all that value into a piece of paper, then proceeded to wave goodbye to value, printing unlimited amounts of money as they passed the buck to the future. Thats why its time for Digital Currency and your investment in the grayscale funds. Go digital. Go grayscale. Charles earnings season winding down and 457 s p names have reported. Get this, folks. 78 of them have beat on revenue. 84 have beaten on earnings. Your blended results are down 7. 8 from a year ago. That sounds bad, its not. Some said we would be down over 21 year over year. I want to bring in chief investment strategist nate fisher. Nate, what stands out to you with respect to just overall the earnings season and who do you think the big winners are . The earnings season was an absolute blowout, right. Over 80 of Companies Beat top and bottom line. Theyre running 25year averages roughly 60 to 65 . The bar was extremely low. We cleared that bar, consensus probably starts to rachet up as we head into 2021. The big winners from our point of view were tech and health care. These guys were putting up year over year growth, not declining year over year numbers. That was two sectors we remained overweight and some of the favorite stocks we like in both of those are nvidia and exact sciences. Charles you are speaking my language, my friend. I want to shift gears a little bit, because speaking of which, we get a lot of folks on this show every single day and someone says they like value stocks, but its become such a euphemism these days that i think it could stand for a number of stocks, right . I like the notion if you are talking value and its maybe somewhat simplistic, but i like using the forward pe ratio, also the socalled peg ratio which kind of measures growth in the equation. If you use those, in both cases financials appear to be undervalued, how do you assess value and what do you think there may be some value opportunities . So as a company, we are a relative value shop but relative strength matters just as much as company fundamentals. Financials do look cheap on a relative basis and an absolute basis but they also went from 18 of the s p 500 in 2007 down to 10 . So its essentially been a lost decade for financials. Given where we are today, i dont really see why thats going to change. If we are going to put money into financials, we are going to go into Money Center Banks that are diverse across asset management, Investment Banking and traditional lending but realistically, all eyes are on fintech, paypal, visa, mastercard. These are the guys who are growing. Charles less than a minute to go, my friend. We are going into the close. One of the things we like to get from our guests in this block is their favorite idea. What do you like the most right now ahead of the closing bell . A name we like as far as going into tomorrows close, as well as in a year end, qdel. The stock got absolutely destroyed on monday on the covid19 vaccine. These guys have the only combo covid19 normal flu rapid antigen test that will decipher between covid19 append normal. We think fair value, 325 to 350. Charles qdel, could be up 50 . Nate, thank you very much. Liz, we are hanging by a thread but still to the upside. Liz my friend, you are never hanging by a thread. We thank you for the service you have given to this country. Thank you so much. Charles thank you. Liz on this veterans day, yes. The nasdaq bringing the heat in the bottom of the ninth. Its big tech power hitters looking to knock out any doubts fueled by the rotation out of the sector over the past two sessions. What happened to that . The dow looking for its third win in a row. The s p going for backtoback gains and yes, the nasdaq