Industrials roared because Warren Buffett brought a precision cast parts . Judge big todays action, dow plummeting 212 points, nasdaq nosediving 1. 2 , nobody remembers as all these positives were undone in one horrendous session for the bulls. Now, last night i tried to be skeptical if not down right critical about the rally. Suggesting it could easily be repealed as the week went on. I didnt know it would be repealed immediately. But thats because i didnt think wed be dealing with a chinese currency devaluation that makes their goods cheaper to export and our goods more expensive to sell there. Yet thats exactly what happened. I want to put it in context so you can benefit from it but also so you can be concerned as i am about it and know what could come. First, china, chinas desperate. Chinese communist governments trying to put everyone to work while at the same time putting an end to the widespread corruption in business and politics. We keep hearing that china needs to grow its e
Coming up in moments. Sprint shares lower in premarket trading this morning. Wider than expected loss, lowering of guidance and loss of subscribers, plus job cuts. Shares of michael kors down premarket after Holiday Quarter guidance comes in below street expectations. Alibaba reporting quarterly profit 45 cents a share in line with estimates. Shares of alibaba have risen 50 since the september ipo. As we said, we are moments away from a live interview with alibabas executive vice chairman joe tsai. We are getting used to these metrics, gross merchandise volume, annual active buyers, and general, we are going to get to the interview right now. Lets do it. Joining us first on cnbc alibabas executive vice chairman joe tsai. Very nice to have you here after this first Quarterly Report as a public company. You guys have made a great deal with mobile in your remarks. In your slide presentations. Let me start there. Its grown to represent 35. 8 of gross merchandise value. Your take rate moved
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