From todays apple event we start with a major selloff in the financials the biggest driver in the market with the xlf falling more than 1. 3 citi dropping 7 today under pressure that regulators could crack down on the banks Risk Management systems the stock is now down more than 12 in the past two sessions guy . Dan nathan has been talking about this for a while one of the things weve said is todays banks are much different than ten years ago theyve become utilities you have to look at them differently and you have to factor in valuations much differently. Ill say this quickly about citi right now at 45 the stock is now trading 63 of tangible book, assuming that tangible book is accurate thats levels we last saw probably in the financial crisis these are trough valuations in terms of the price of tangible book i think Warren Buffett told you everything you need to know about us banks hes obviously paring down exposures in banks i think that tells you a lot as well in terms of citi, its
Tens of billions of dollars. You said thats it thats the top of tech the nasdaq was 4400 that week uber High Valuation Companies and use that as your justification to reposition your portfolio. Im not fan of it. Doesnt really work. It makes for better tv than it does for portfolio you dont take a step back and say its 100 times sales this thing has an incredible first day and you dont take a pause. Its not the whole landscape and say i dont think this is good weve seen a million kpaemexs of this. Its not in the s p 500. Investors dont own this in their 401 k its not an important stock. Its a great stock to watch fp lets address it in those terms. Now the stock is getting crowbared. Kramer makes a point. We have this tweet he had on nvidia as well and zoom. It underscores, if you will, i think, very well the landscape and what may be a pull back in some of these loved names especially over the last few months for what its worth, i dont know what octa does. I think that is indicative too
Hello im kristie want to welcome to news africa have your company as always environmentalists in mauritian calling for an investigation into why dead dolphins have been found washed up on the Indian Ocean Island shore 7 more caucuses were discovered on a beach and grand sable on thursday its a day off to 17 of those were found mia and oil spill like that spill was caused by a japanese ship that struck a coral reef last month morrish the fisheries minister has said that at 1st glance the dolphin dates dont appear to be related to the spill but environmentalists say there must be an urgent inquiry to determine the cause of the ditz. My guest today is stefan goal of resistance to save vets a Political Party focusing on ecological and social issues in more rishis define is also an environmental activist and he joins me from the issues i welcome to day devaneys Africa Stefan so you visited the site with a dull fins was stranded what did you witness so yes we were unseen and work we saw. We
Everybody wins. Now thats simple, easy, awesome. Click, call or visit a store for details. With school about to begin, south bay teachers are voicing originates. Health is not the only concern. I dont know anyone who has gotten an accommodation. Working from home has presented big challenges in the crowded bay area. And one hotel is providing a more professional setting for your virtual meetings. In our original report, why wearing that mask could have even more benefits than we ever realized. You get protected on the cheek, as it were. Now at 11 00 and streaming on cbsn bay area, in less than 48 hours, School Starts in san jose. Hundreds of teachers have been told to go back to the classroom. Some plan to protest by teaching from home. We have more on the big rift in the San Jose Unified School district. Reporter some teachers say it is hard to work for san jose unified right now, on wednesday is going to get even harder. Was wrenching. San jose unified holy schoolteacher kelly walker
The nation campaigning on the election trail has been forced to take a back seat will the president ial candidates ever hit the road and so their brand of politics to americans before the fall follow the u. S. Election on a just. Taria line is be allowed to restart flight so you go for blockade in countries the uns top Court Rejected Appeal by saudi arabia the u. A. E. Bahrain and egypt to keep their airspace closed while the verdict changed the course of the diplomatic dispute in the gulf this is a top story. Hello and welcome to the program on the wrong call on millions of passengers on one of the Worlds Largest airlines have spent more than 3 is taking the long way home ways flights have been forced to reroute and burn extra fuel to avoid the space of 4 countries which imposed an air sea and land blockade in. 2017 saudi arabia bahrain the United Arab Emirates and egypt want to keep it that way but the highest court at the United Nations has rejected their appeal to prevent mediation