Performance today. And nasdaq push a 2 gain. Nice moves today, in alphabet, ama ama amazon,baba ahead of those earnings you have a new month for stocks. Very big and important earnings this week in tech and elsewhere. Retail surge impact, volatility in the markets and what was gamestop is now silver we have our eye on that as well. And we do have this call now, ko courtny. This is likely to get worse and feel bad in the shortterm this is not a bubble or like 2000 for many reasons. Calls now that the correction is here is it . Well, good to see you again, scott. Everyone is entitled to an opinion and im sure hes done a ton of research that would say its here but i think there are a number of factors that one would say may not allow this correction to last longer than what was friday. So, you know, when you think about the amount of cash on the sidelines. Look at the savings and the amount of capital thats going to come into this marketplace with stimulus, you look at people can say evaluations are here, are there. I dont think this market is overvalued i think this market is finally discerning lets put aside gamestop and amc and what kind of happened there for just a second, and you look at names that are outperforming in this market the names that came back when they were beat down last week and youre actually seeing Strong Companies come back to the positioning in which they belong, so i dont think there is a correction right now by any means. You see kind of whats happening with the virus how long have we been waiting for some good news how long have we been waiting for the death tolls to pause and the hospitalizations the come down i mean, i could go on and on i wont, but you know, i think theres some good opportunities here yeah, forgive me for interrupting you i want to get to kate rooney who has more breaking news on robinhood as carl was talking about the end of the prior show. More Capital Raise what can you tell us reporter robinhood raised additional 2. 4 billion. That is on top of the billion dollars it raised just last week total, in just a few Days Since Last thursday, robinhood brought in 3. 4 billion from existing investors. So the names on this list in terms of the backers giving robinhood some capitol hill here, ribt, iconic, sequoia, index and nea. All from existing investors here and its in addition to 600 million in credit that they got from their bankers last week so all this, of course, to meet those record Capital Requirements in order to keep these stocks online and, again, 3. 4 billion just since last thursday scott, back to you kate rooney, thank you. Our conversation as we picked off the current environment. Robinhood is a big story within that and we did hear from you. All right, so kevin oleary. Maybe a correction is here, maybe its not maybe it will get worse as mike wilson said and maybe its not but what i see from you is buying more, a lot more. Buying more microsoft. Buying more facebook buying j j and apple and tencent and baba and pfizer. Thats a lot what does that say about your view of the market i cant find anywhere else to put money thats competitive im not going to put it in fixed income, even though i believe the 10 year will be 2 by the end of the year because of inflationary pressures of whatever stimulus package we get. As far as the correction goes and why we continue to buy, refresh mostly driven by the fact theres some concerns about how fast this virus gets squashed it doesnt look like its going to be as easy as we planned. Logistics issues now that biden is fully in control. He owns the issue and every day, we hear the update on where we can get vaccines and where we cant. In addition, theres a big spread in the stimulus package i love kumbaya politics. You get it for one day when you hear the inaugural speech and then back to business as usual we fight about minimum wage, states, this and that. In the end, its not going to be 1. 9 trillion. Its whatever it is and then well have to look at the stimulus package, but all of that liquidity speaks to owning equities and you go back to what works. Microsofts really working j j, i want to be in the middle of health care do it the consumer absolutely loved. Its a gift to get it pulled back of 8 firing on every cylinder we have to shut it down, its evil, but you cant do that right now because its running Small Business in america, period wait until we have Something Else that yin and yang has been going on forever continue with the buying opportunities that have served me well and load up to full waitings on them. Pete, others do too if theres more deleveraging and risking from hedge funds which may go on for some period of time, mike tweets today, ill read this because its important, i think it really represents the view thats widely out there most people i know, he says, in the equity markets are waiting the buy as soon as they think deleveraging is over the macrobackdrop is assets higher tons of cash around and in economy once enough of us get jabs, speaking of the vaccine. That seems to be the prevailing view, pete even if stocks are in a period of turbulence or heightened volatility and they do pull back, theres a lot of buyers waiting to pounce in this market yeah, i totally agree with that as a matter of fact, id be one of those i havent turned back as much as id like to, scott the only way id be able to, i look at the names and to kevins point, i look at a lot of these names and i like where theyre trading right now for the most part thats why i continue to hold on to them and ive talked about, hey, im going to start trimming some of these equities i trimmed a couple, scott, but almost nothing i think that the reality has been for me, how do i do this in a way that still makes some sense . I can take advantage of volatility all the time, look at the volatility within the vix. It was just trading within the 22s, not that terribly long ago. Yesterday, we were 33. This morning, we were 33 that gives you an opportunity to use that volatility thats come back into the market and the applied volatilities of most of the stocks im trading right now. It gives me a chance to sell right on top in other words, if normally at apple i would sell about a 10 out of the money call a month out, lets just say, im not doing that im selling options against my long stock positions that are right on top of where we are now, thats going to make it a lot more difficult if we go straight up, but it also gives me a lot more cushion to the downside and i take advantage of the implied volatility in a lot of these various names that have risen by 5 , 10 , 20 . Who knows if we go straight up or not . Curious from your perspective, not only on the mike wilson commentary today, again, saying that if youre waiting at correction, dont wait because its already here and its likely to get painful, at least feel bad, but theres no reason to think that youre in sort of bigger moment thats going to have 2,000 like upset, even as others talk about some similarities that are to the year 2000 whether its the heightened retail involvement or what have you. You do have the biggest short squeeze in some 25 years whats your view on where we are now as you hear from some of your colleagues on our committee today who are buying stocks . Well, i have also increased exposure but i did it a little differently. I did it through some bull spreads on names i own like qualcomm and corgo im positive on the market i think its an okay conversation to have with mike wilson strategists used to take the long view, day trade the market but i think youve got to put the noise aside. Put the noise aside of reddit. We talk about isolated incidents, not a reckoning in the market, not talking about democratization of retail into the market as if its just happening. John boggle started that with vanguard years ago we see the trend continue, yes, but i agree with mike. What were going to see is the Fastest Growing economy that weve seen in years and years and the deleveraging has already happened the degrossing happened. We saw the biggest grossing in the big time in hedge funds since 2010 the level of degrossing is a briding of what happened in march of last year when covid first hit and the panic ensued so if youre waiting for that, dont wait for the bottom. You cant call the bottom of it. But what youve got, massive stimulus, whether its a thousand dollar check or 1400 check. Whether its an infrastructure bill thats 4 trillion or 1 trillion, yew oure going to see all the time as jay powell made clear, you have free money so were seeing some great earnings reports, particularly from technology. So im not surprised technology is up today. I was surprised it was down as much as it was last week and it was a painful week for me. Despite having some big winners there like a sky works sells at a big discount to the market so theres value there. Not everything you sell overvalued, so my advice is ignore the noise, ignore the shortterm maturations in the market we just dont know whats happening there. You cant pick them and just focus on the long ball and a burgeoning economy thats going to explode. To push back a little bit, no one is suggesting that this is the birth of the Retail Investor as you say, jack vogl and vanguard pioneering what Retail Investors have been able to do for decades and decades. This feels, and certainly is, without question, a renaissance of the Retail Investor i explore that through you more sophisticated and with it than people have given them credit for, perhaps, over the last many years. One of my questions is, the fact that theyre so engaged in a market that has been so hot since the march lows, does that put a little bit of a floor under the market so even if you say, okay, a correction may be here and it may be worse than you think, thats one persons call, you do have a cohort and a rather large one that is engaged and involved in buying stocks like they havent done in years. Steve, whats the broad implication of that for the market itself . Just finish the thought since it was your thought, come back to you. Right i agree with that. A lot of it but hasnt been in the headlines. For example, in apple, youve seen so much retail buying in apple and other names. You have another invest class coming in on the margin and additional buyers very positive but my view, also weak handed. So the sword cuts both ways. Right now, were benefitting from it. We may not benefit from it if the market hits a rough spot, but clearly having that marginal buyer is a positive from the market but a limited group of stocks and i wouldnt give more credit and say theyre all sophisticated. A lot of them arent some are the person who started this whole thing with gamestop was looking for a value play he wasnt looking for a short squeeze. That happened after. Of course i get it i get it but hedge funds have blown up too by making stupid bets on the wrong side too i mean, regardless of the size of your wallet, everybodys made dumb moves in the market over a period of time i think its an important point to make out. Were learning that over the last couple of weeks people make dumb bets whether you have all the money in the world or not that much money if youre engaged in the market, chances over a period of time, on the wrong side of a trade or two. Go ahead. Scott, i will tell you une kwef give unequivocally. You may not the new traders in the market that arent investors the way theyve seen forever ago, thats okay but when you tell me and i saw these statistics today and i was shocked that last year, Credit Card Debt when everyone was all fearful of the Retail Investor or the consumer doing so poorly and they arent going to know what to do with the money, credit card went down 10 last year 4 trillion injected in savings accounts, 5 trillion in savings. Okay, those are numbers that are real, and what it says to me is, yes, you have capital flowing in from Retail Investor s some of them are not as astute one might want them to be ultimately, but you know what . Theres a lot of capital out there coming in to these markets potentially, that is a good thing. There is a lot of capital on the sidelines waiting to go into the twothirds of gdp, ie, the consumer that will help rev this economy back thats okay. We need more education and things around the frills, but this engagement is something we should all welcome and welcome with open arms okay. The question is wheres this money going to go . Where is this new money, whether its the money thats waiting for the deleveraging period and money goes in or retail or what have you, kevin, weve got tech in focus, okay earnings this week alphabet, amazon, qualcomm, nxp, paypal, ebay and apple and facebook did not trade all that well after their earnings and i get that they had big moves into the front but nonetheless, the earnings apple on january 27th, the stock down 7 that gives you an idea so wheres the bar for these other names, kevin the alphabets, the amazons, the qualcomms and maybe some of the others too you own amazon i do own amazon you know, sometimes you trade down before the print. Sometimes you trade down after the print in the case of facebook there was nothing wrong with the facebook numbers they blew their numbers away showed the continued momentum. I wanted to make reference though to the extra 2 billion that was just raised in the last hour for robinhood and point something out for all of us as investors. There was millions of people, theres 100 million with no investment account for retirement in america. Thats still a problem because of the lack of education that cortnee referenced vlad picks up 16 million accounts whether you like whether they trade or dont, they affect the markets for the first time never seen anything like this because i try to monitor social media versus what i own. Anybody starting to track or say anything out there on a big position i have, and this weekend on instagram, i have an account there, kevin oleary tv, it exploded with this whole vibe of sticking it to the big man and im thinking to myself, yikes. What am i short right now . And im not the only guy thinking that. Whoever worried about 25 years old taking you out behind the barn and shooting you . Thats basically what the market has to deal with i dont care if its silver or gamestop or amc, thats a new product out there, scott you make a point and a lot of commentary out there including on twitter, in general, if nothing else, this is going to change the Hedge Fund Risk model. Theyre going to have to sort of rethink the way theyre engaged in the market and also, the way that theyre publicly engaged in the market, the way they talk about different positions that they have. The center of the mix this week. You own alphabet, you got qualcomm, amazon, youve got corvo and made some moves around corvo as well. Are these stocks at risk of doing what apple and facebook did and trading lower on the print a sell on the news so to speak . I dont think so because of the spread on qualcomm, which means betting its going to go up, in addition to my equity positions. We look at sky works sky works was moving nicely, although came down right before the quarter. Market, not stock related. Look at it on friday look at it today so youve had a huge move there. We look at Netflix Netflix didnt trade up in the quarter and come down with the Nasdaq Market but exploded on the quarter. And then theres terradime, despite good numbers its really stock specific and thats why i dont think it will affect the overall market but as far as the hedge fund model, hedge funds dont go into, in my view, except maybe chaino, just a pure short seller, they dont expect to make money on shorts those are hedges whether they hedge with ets or other products or whether they hedge with short stocks, theyre going to lose money. Thats been the pattern. Its hurt their performance because you dont get paid that for being long if you want to be a long manager, you earn an incentive over and above what the s p does, or some sort of hurdle i dont remember looking at hedge funds too many that have made money over the last ten years consistently in the short side, except for certain periods of time like in last march im happy with my positions. Okay. I want to stay on the conversation of the stocks that were reporting. Rule of thumb. Train moves on, train doesnt turn back. Courtney, if you miss it, you miss the train, got to get the next one paypal this week, recent purchase of yours and youve been adding more talk to me look, scott i have loved financials and tech you put them together, big tech. This payment system. Im a very, very big proponent, fan of paypal. The biggest winner of the robinhood transfer is going to be square and cashapp. Every millennial has it on their phone to send us money ultimately, thats one and paypals venmo, im going to not talk about the tremendous benefit of the stock you know the business model. You can go safely in certain states that are open you can pay with venmo i leave my wallet at home sometimes and just pay with my phone. How often, look at what that does look at what Digital Payments does they brought in 70 million new users. Last year alone on a base of 300 million. This is our number one pick of 2021 and i got in late. I wish i had gotten in sooner but ive been picking up absolutely i got in late. My girl, brynn, she told me to buy it at somewhere well below 200. I got in when it dipped below 230 last week, scott, and i just picked up tons of it and i think it goes well above 300 we have a 274 price target on it right now. I hope you make money in that pete, you previously owned paypal you dont own it now but we do have a big week for those earnings im guessing you have big thoughts about these big names and the impact on some of the ones you are invested or at least trading in through the Options Market right absolutely, scott. So when you look back, obviously, weve had multiple different weeks now of some incredible, but some of the largest market Cap Companies delivering their earnings and i think you can read some of what we came with from last week, for instance, with a microsoft looking at amazon. Lets be honest. Amazon, its about aws that is amazon to me as i look at this coming quarter, i have to think that theyve been killing it. We know what happened with microsoft. They ran into the numbers. Pulled back and once again, it bounced back up towards these levels once again. I think that would be bullish for amazon i think amazon will have a solid report and when they do, i think that will be bullish as well for microsoft. Theyre in the right spot. Theyre in the cloud as we look ahead, im not in a lot of these various names i loved paypal i was in it way too ear