Many months as the stocks have sold off, and john and Pete Najarian are with me here on 1 market, and we ask your opinion as we wait for the president. Well, it is incredible, and jon has been all over the story, but brexit, and now it seems that the world is getting more and more concerned about it, but brexit, and the fed and thele volatility of the way that it is skyrocketing, and even in the markets that are not that volatile quite honestly, and i look at the markets and going down 100 points, you dont expect the vix to move last thursday 14 and then 17 on friday and today, well over 2 1 and yesterday a huge jump in the volatility, and so concern out there, and unsecertainty, and t correlation of oil remains right intact, and down 1 , and markets down on the day. And the biggest loss on the s p since february and we mentioned the vix, but it in part the brexit issue as the polls over there are showing the creep up in the those who say leave. Well, they want selfdeterminati selfdetermination, at least a certain percentage do, and whether or not that is a real majority, scott, we dont know yet, but we know by the polling when incidents like orlando happen, and even though it is not immigrant in great britaibr and people are concerned, how do we secure our borders and make it safer, and that helps on the brexit side, and bremain may get a boost here and there, and the time to settle it will help to settle it down. The vix that you and pete mentioned did spike, but then it pulled back dramatically in the session today, and now it is back near session highs. And so you buy it today . H no, i sold. In fact, i sold out of my vix protection for the halftime portfolio, and we have it in place for customers and clients who have the long term positions on through us, scott, but as far as making a trade, put it on last week at 10. 08 at the uvxy and pete and i both took it off yesterday after the spike. And pete, you have a fed meeting beginning today, and you will get the presser tomorrow. Right. And the tease for bonds and yields already on the move in anticipation of what fed chair may say . And gold, and everybody is talking about that and the move in gold as well, scott. So there is a shift. If you are look at the last three or four trading days, and everybodys concern levels and you to contribute some of this in terms of what happened to the fed itself and janet yellin is looking at things are not as rosie and not that rise that everybody was anticipating, and now it is going to be pushed out to july. I want to remind you once again and you are looking at at it on the split screen on the righthand side of the screen, and we are awaiting president obama at the Treasury Department to make comments on the orlando shooting, and the fight against is isis, and we will take you there. And continuing the markets, and we are going to be talking about one of the biggest deals in technology with linkedin. And we want to go talk to mamood hamin, and you have a smile even after the game last night . Well, we will live to play another game. And two more to go. And lets get your opinion on the microsoft linkedin, and what you felt when that news broke . A blockbuster deal that nobody saw it coming. Two dominant companies in each of the sector, and so you have the largest professional social network, and the worlds most popular productivity suite. Together, they touch the lyes of hundreds of millions of people, and quite nonoverlapping as product products, so it is going to be interesting to see how the two combine efforts to have like linkedin reside with outlook or office 365, and so lots of interesting opportunities there. And is it interesting to you . On the surface, no, because it is not overlapping, but then you start to thinking about how the two products could work together, and compete against the sales force which is a company that microsoft looked at acquiring early in the year, so i am curious what they are doing with the acquisition. And at social capital, you are in charge of the private investing part of the investment there, and we talk certainly on the daily basis of what the health of Silicon Valley is and where the valuations are, and have we corrected enough in valuati valuation . Have we overcorrected . Where are we . Well, id say that if you look back a year ago there was a big gap of the public valuation s and the private valuations and the bridge is narrowing, but we are still far off. If you are looking at the ipos to price, twilleo, you say, it is overpriced in the private market a year ago and it is just corrected to where it should be in the public markets, and that is the case for the last year or two for most of the issues that i have gone out. And mamoon, how much of it is some of the vcs saying, i dont want to be the last one standing when the music stops . In other words, as you have just described with twilleo, and people were throwing money at t it, and fidelity throwing money at uber and other private companies, but the valuations as they are stretched whether it is an air bnb or twilleo and i dont want to be in the last round because of what we are seeing there in twilleo. There is a distinction between uber and say snapchat that are poised to be a juggernaut like facebook and google and then the more Traditional Companies that are great, and in Silicon Valley, we are hopeful and optimists at heart, and think of the more prosperous outcomes, and so this is going to be a spectacular Company Worth tens of billions of dollars and not every company is going to be worth tens of billions of dollars and Companies Like twilleo, you hope that it is worth 1 billion or start to in thin air start to value the companies which is the mentality of all of us as optimists in Silicon Valley. As far as twilleo, is it a singular story or greater meaning as to the true ipo window has opened . If history serves us these moments can open up the floodgate floodgates or make us more tentative. We dont know, because as you know, this is one of the most abysmal years for the tech ippos in a long, long time. Pete . Well, i am curious about the ipo market as well, and we had a guest on yesterday saying that it will be huge. Yes. Do you expect it to return that is the e Eternal Optimist side. And the second half of the year, as people are more and more optimistic about the gdp and all of it, and do we see it building to 17 or wait for 17 to accelerate . It is more of the 17 story, because again we have uber, air bnb and snapchat and three spectacular companies with high growth, top lines and the potential is dominating their markets. So, these are going to be talking about tens of billions of market cap that is toinging to be create and close to 100 for the three of them. That is not going to be playing out this year in my opinion. And you think that uber goes public this year . No. I think it is a 17 story. You to . Yeah. And interesting. Because when you see facebook, we will have a guest on later in the hour telling us why facebook is a good short right now. You agree with that kind of call . Well, i will tell you that we are on the ground with a lot of the facebook advertising, and so we have a internal team of growth and data team that works with the portfolio company, and helping them to acquire the users, and the place where we spend our money is on facebook, and we only see that accelerating, wan to get your product in front of new users, whether it is a product or the service, you go to facebook and not google. So if you are going to be looking at the facebook juggernaut, 5 billion in revenue, and 4 billion in mobile, and so increase of 60 year over year, you cant make up those numbers soshs i see it continuing. The most exciting thing that you see within Technology Today from the investor standpoint is it virtual reality, a i what excitous e ououe ouous . Well, we have a mission to try to the solve the worlds hardest problems with technology, and we have do that with specifically health kcare and education, and we spend our time looking at the frontier areas like space and drones and making space travel more cost effective, and drones and Autonomous Vehicles that roam the oceans, the land and the air, and those are the kinds of things that we are spending a lot of time researching and actually looking at making investment investments in. And you have been on the boards of box, yammer, and slack, and what do you make of the debate over whether private companies, even sort of later ones like uber or snapchat should go public . Well, we are Eternal Optimists, but we want to have stand the alone companies in the valley like oracle or google or microsoft, it is to mentor or coach the ceos to build the stand alone companies which means you go public, and show the balance sheet, and income statement and prove that you are stand alone. And show the investors a big payday, too. Dont bury that. Thank you. Thank you for having me. And hamoon hamid the cofounder of venture capital. And now, we will go to washington, d. C. , in a few moments, and then we will speak of Brad Gerstner of altimeter, and also, we will weigh in on the steph curry phenomenon, and the effect he has had on the under armour business. All of that and more coming up. But grandma, we use charmin ultra soft so we dont have to wad to get clean. Charmin ultra soft gets you clean without the wasteful wadding. It has comfort cushions you can see that are softer. And more absorbent, and you can use up to 4 times less. Enjoy the go with charmin. All right. We continue to wait for president obama to speak here at the Treasury Department. We will take you there momentarily, and we understand that the meeting with the National Security council has wrapped up, and we expect to hear from the president and perhaps an update into the investigation of the orlando shooting and the u. S. Fight against isis, and we will bring you that in a matter of momens. S meantime, he is known as the shareholder who is successfully battled and pushed for the changes at United Airlines, and Brad Gerstner has Altimeter Capital investments ceo, and he is with us at 1 market, and are you pleased with the way that thing s a things are going so far . Yes, it is less than 30 days of the new board was put in place. I think that they have had a single Board Meeting since then, but you will be seeing dramatic urgency in change out of the new board, but since you are in san francisco, take a step back, and you know, the reason that we are investing in the Airline Industry is because of technology and consolidation has dramatically changed the economics of the industry. And ten years ago, oil was at a 55 and the industry lost 30 billion. Last year oil was at 54 and the industry made 20 billion. So technology whether it is aisle seat upgrades or the window seat upgrades or the mobile checkin. That is teblg nog charging people more for the Little Things . That is new tech. And the Revenue Systems that sit behind it, and that they are running out of the cloud, and the mobile checkin eliminating the need for everybody to stand in line and wait for their boarding pass, and these things are changing the nature of the industry, and along with consolidation, and so we are excited about how much more profitable it is today. We are awaiting the president as we said, and we will talk to you more on the other side of that, and john harwood as we are walk up to the remarks from the president , what are you expecting today . Certainly on this news that nbc had the exclusive that the wife of the orlando attacker told the fbi that she tried to talk him out of the attack, and word that she could possibly face charges . That is one thing that we are waiting to hear from the president on, and also waiting to hear any other developments in the investigation, and any developments in this unconfirmed rumor really that al baghdadi, the leader of isis has been killedp in an airstrike. The pentagon a few minutes ago said that they were not able to with the military intelligence to confirm that, but we will see if the president has any update on that situation. Yeah. And it is interesting, too, john, after we heard are from the fbi drirector comey yesterdy saying in hindsight he does not believe they would have done anything differently, but yet, we know a fair amount at this point that the individual was looked at on multiple occasions by the fbi. Thats right. Everybody acknowledges it is very difficult to stop a individual motivated actor who is not communicating more broadly with the terrorist networks, but this is one way in which the news of the wife may change the frame of the analysis for the fbi, because now you have a second person with knowledge of the impending attack, and what were her contacts, and so, investigators are going to have to be following this where it leads to see what it develops and the president will address that in this some fashion today. This other stories of the fbi, and the russian hacking is so new. Actually, you know, john, the president is coming through the door. Here is president obama. Everybody all set . I just met with my National Security council a adds part of the reg ular effort to review ad intensify our campaign to destroy the terrorist group aisle aisle. Our meeting was planned before the terrible attack in orlando, but obviously, that tragedy the awful loss of life shaped much of our work today. In all of our efforts foremost on the mind is the loss and the grief of the people of orlando, and those who die and the ones still recovering and the families who have seen their the loved ones harmed, the friends of ours who are lesbian, gay, bisexual and transgendered and i wanted to remind them that friends and allies from all over the world have sentiments streaming in, and thinking about you, and they are praying for you. And as director comey has said that there is no indication that a foreign Terrorism Group directed the attack in orlando. It is increasing ly clear howevr that the killer took in extremist information and propaganda over the internet. He appear s s to be a angry, unstable young man who became radicalized and terrorist groups have called on people around the world to attack innocent civilian civilians, and the propaganda and the postings are pervasive, and more easily accessible than we want. This individual appear s s to h absorbed is some of that and during his killing spree he claimed allegiance to isis. These homegrown terrorists are very hard to detect and prevent, but across the government at every level, federal, state, local, military and civilian, we are doing everything in our power to stop these kinds of attacks. We work to succeed 100 of the time, and the attacker as we saw in orlando only has to succeed once. Our extraordinary personnel, and the intelligence and the Homeland Security and the Law Enforcement have prevented many attacks and saved many lives and we can never thank them enough, but we are also struck by the fact that despite the extraordinarily hard work Something Like orlando can occur. Today, director comey spoke on behalf of the Homeland Security, and secretary carter, and chairman dunford review ed the efforts against isil and also spoek had jack lew to talk about the other efforts to stop their funding. This is a difficult fight, but we are making congress. I have offered up a number of steps to ramp up the fight against isil, and including personnel and special forces in syria, and other forces there battling isil, and additional advisers to work closely with local force, and additional s support for forces in iraq. Aircraft continues to lawn frch the uss harry truman now in the mediterranean, and the b52 bombers are hitting isil with prescription strikes, and the targets are being identify and hit more quickly, and so far 13,000 air strikes. This campaign at this stage is firing on all cylinders, and as resu result, isil is under more pressure than ever before. Isil lcontinues to lose key leaders, including a leader in mosul and also the leader who plotted external attack, and the le leader in the an bar proare vince, and here al wa here ri and our message is clear, if you target america, you will not be safe. You will never be safe. Isil continues to lose ground in iraq. In the last two months the local forces in iraq with Coalition Support have liberated the western town of rutba and liberated the strategic town of hett and meanwhile, north, the iraqi forces are continuing to push up the river valley to make gains around mosul. All totaled isil has lost more than half of the territory it occupied in iraq, and lit continue to lose more. It continues to lose ground in syria as well. Assisted by the special Operations Forces and the Global Forces pressuring them which means that the noose is tightening around isil in raqqah as well. In short, the coalition is on offense, and isil is on defense, and it is a full year since isil has mounted a a Successful Operation in either syria or iraq. As isil continues to lose territory, it is losing the money that it is its life blood, and as a result of the strike is against the Oil Infrastructure and supply revenue, we have cut their rev by millions of dollars per month. In addition, we have deprive d them of many millions more. And thanks for the work of secretary le with, and others here today, and institutions around the world, isil is cut off from the International Financial system. And cutting off isils money may not be as dramatic as the air strikes, but it is critical. Their cash reserves are down, and they have had to cut salaries for the fighters and had to resort to extortion for those in its grip, and even some of the leaders have been caught stealing cash and gold. And once again, the true nature of isil is revealed. They are not religious warriors, but thugs. I want to mention that it is critical for the friends in the senate to confirm adam zubin my nominee for secretary of terrorism, and intelligence. He has served in both republican and democratic administrations, and everybody agrees that he he is imminently qualify and he has been working on the issues for years. It is now more than a year since i nominated him. And more than 420 days, and he has not been given a full vote. There is no good reason for it. It is inexcusable. We need a vote on adam zubin to continue to fight isil and keep our country safe. And isils ranks are sinking. As one bringing islam to the world and people need to know that. Thanks to International Efforts the flow of foreign fighters from america to seyria has plummeted and the Intelligence Community assess s thes that th ranks off isil fighters have been reduced to the lowest levels in more than 2 1 2 years. Even as we continue to destroy isil militarily, we are addressing the Larger Forces that have allowed the terrorists to gain traction in parts of the world. With regard to iraq, this means helping iraqis liberate stable communities and improve governance so that isil cannot return with regard to syria, it means the continued support for the fragile cessation of hostilities there. This cessation of hostilities has not stopped all or even most of the hardship on the syrian people, and the hardship on civilians. And the assad regime has been the principle culprit in violating the cessation of h hostilities, and isil and al nusra which is al qaedas affiliate in syria also continue to terrorize serians, but, as fragile and incomplete as the cessation is, it has saved lives and allow and allowed the delivery of some lifesaving aid to some syrians in desperate need. As difficult as it is, we will continue to push for the political process that can end the civil war and result in a transition away from assad. Beyond syria and iraq, isil is also losing ground in libya. The forces of the libyan unity government are going after the stronghold in sert and we will continue to assist the new Libyan Government as it works to ensure the safety of its country. Lastly, here at home. If we really want to help Law Enforcement protect americans from homegrown extremists, the kind of tragedies that occurred at San Bernardino and then now have occurred in orlando, there is a meaningful way to do that. We have to make it harder for people who want to kill americans to get their hands on weapons of war that let them kill dozens of innocents. It is absolutely true. We cant not prevent every tragedy. But we know that consistent with the second amendment, there are commonsense steps that could reduce gun violence and could reduce the lethality of somebody who intends to do other people harm. We should give at of the resources they need to atf the resources they need to eps for the gun laws that we have, and people who have possible ties to terrorism who are not allowed to be on a plane should not be allowed to buy a gun. Enough talk about being tough on terrorism. Actual actually be tough on terrorism, and stop making it easy as possible for terrorists to buy assault weapons, and reinstate the assault weapons ban, and make it harder for the terrorists to use these weapons to kill us. Otherwise despite extraordinary efforts across our government by local Law Enforcement, by our intelligence agencies, by our military, and despite all of the sacrifices that folks make, these kinds of events are going to keep on happening. And the weapons are going to get more powerful. Let me make a final point. For a while now the main contribution of some of my friends on the other side of the aisle have made in the fight against isil is to criticize this administration and me for not using the phrase radical islam. Thats the key they tell us. We cant beat isis unless we call them radical islamists. What exactly would using this label accomplish . What exactly would it change . Would it make isil less committed to trying to kill americans . Would it bring in more military allies . Is there a military strategy thated by this . The answer is none of the above. Calling a threat by a different name does not make it go away. This is a political distraction. Since before i was president , i have been clear about how extremist groups have perverted islam to justify terrorism. As president i have repeatedly called on the muslim friends and allies at home and around the world to work with us to reject this twisted intere pretation of one tof the world east great religions. Theres not been a moment in my 7 1 2 years as president where we have not been able to pursue a strategy because we didnt use the label radical islam. Not once has an adviser of mine said, if we use tad phrase, we can turn this whole thing aro d around. Not once. So someone seriously thinks that we dont know who we are fight ing if there is anyone out there who thinks that we are confused about who our enemies are that would come as a surprise to the thousands of terrorists who we have taken off of the battlefield. If the implication is that those of us up here and the thousands of people around the country and around the world who are working to defeat isil arent taking the fight seriously, thatd come as a surprise for those who have spent the last 7 1 2 years dismantling al qaeda and the fatah for example, and the inclusion of the men and women in uniform putting their lives at risk and the forces i used to get bin laden and now on the ground in iraq and syria. They know full well who the enemy is. So do the intelligence and the Law Enforcement officers who spent countless hours disrupting plots and protecting all americans. Including politicians who tweet. And appear on cable news shows. They know the nature of who the enemy is, and there is no magic to the phrase radical islam. It is a political talking point, and it is no a strategy. And it is not a strategy. And the reason i am careful of how i deskrcribe this threat ha nothing to do with political correctness, but has everything to do with defeating extremism. Groups like isil and al qaeda want to make this war a war between islam and america. Or between islam and the west. They want to claim that they are the true leaders of over 1 billion muslims around the world who reject their crazy notions. They want us to validate them by implying that they speak for those billionplus people, that they speak for islam. That is their propaganda. That is how they recruit. And if we fall into the trap of painting all muslims with a broad brush and implying that we are at war with an entire religion, then we are doing the terrorists work for them. Up t up until this point the talk about the labels is partisan rhetoric, and we have sadly all become accustomed to the partisanship, and even when it involves the fight against these extremist groups, and that kind of yappinging has not prevented folks across government from doing their jobs. From sacrificing and working really hard to the protect the american people. But we are now seeing how dangerous this kind of the mindset and the thinking can be. We are starting to see where this kind of rhetoric and loose talk and sloppiness about who exactly we are fighting where this can lead us. We now have proposals from the presumptive nominee for president of the United States to bar all muslims from immigrating to america. We have language that singles out immigrants and suggests entire religious communities are complicit in violence. Where does this stop . The orlando killer, one of the San Bernardino killers, the fort hood killer, they were all u. S. Citizens. Are we going to start treating all Muslim Americans d differently . Are we going to start subjecting them to special surveillance . Are we going to start discriminating against them because of their faith . We have heard these suggestions in the course of this campaign. Do republican officials actually agree with this . Because that is not the america we want. It does not reflect our democratic ideals. It wont make us more safe, but it will make us less safe. Fueling isillecsiisils notion west hates muslims and making many muslims in this country and around the world feel like no m matter what they do, they are going to be under suspicion and under attack. We have gone through the moments in our history before when we acted out of fear, and we came to regret it. We have seen our government mistreat our fellow citizens. It is part of our history. This is a country founded on freedoms, including freedom of religion. We dont have religious tests here. Our founders and the constitution and the bill of rights are clear about this, and will we ever abandon those values . It would make it easier to radicalize people here and around the world, but we would have betrayed the very things that we are trying to protect. Pluralism and the openness, our rule of law, the civil liberties, and things that makes the country great, and the very things that make us successful. Exceptional. We cannot lett that happen. I will not let that happen. Two weeks ago i was at the Commencement Ceremony at the air force academy. And it could not have been more inspiring to see these young people stepping up dedicated to serve and protect this country. Part of what is inspiring is the incredible diversity of these cadets. We saw cadets who are straight applauding the classmates who are openly gay. We saw cadets born here in america applauding classmates immigrants and loved this country so much they decided to be a part of our armed forces. We saw cadets who are proud Muslim Americans who are ready to serve the country to lay their lives on the line to protect you and me. We saw a male cadet applaud for female classmates who can now serve. That is the american military. That is america. One team. One nation. Those are the values that isil is trying to destroy. We shouldnt help them do it. Our diversity and our respect for one another, our drawing on the talents of everybody in this country, and our making sure that we are treating everybody fairl fairly. And we are not judging people base on what faith they are or what ethnicity they are or what their Sexual Orientation is. That is what makes this country great. The spirit that we see in orlando. That is the unity and the resolve that will allows us to defeat isil. Thats what will protect america and define us as americans. That is how we will defend this nation, and that is how we are going to defend our way of life. Thank you very much. That was president obama with the latest on the investigation into the orlando massacre, and the u. S. Fight against isis, and the president saying at this point there is no indication that the attack was directed by a foreign group. That it is clear at this point that the killer in orlando took in extremist propaganda over to the internet to become radical iz radicalized and said that we are attacking isil on all sill lcyl, and john harwood, no fate on the isis leader al baghdadi, and once again weighing in on the gun debate, and the first time that i can recall and talked to the people who have criticized him for not using the term radical muslims. He is so motivated to go out to campaign for Hillary Clinton and defeat trump, and this is it. It is a blast from the president , and came from deep inside. He went after this notion that donald trump was repeating yesterday that the president s failure to say the words radical islam was significant in this fight, and impediment to winning the fight, and he went after that very hard and said that is a simply political talking point, and in fact, it would help isis turn radical islamists themselves turn it into a clash of zilizaticivilizations that tn is trying to defend, and he went after trump whose basic campaign appeal would undermine the American Values that we are trying to defend, and that is a motivated and angry president going after donald trump, and when we hear more of that over the next few months. John harwood in d. C. Follow ing the president are there, and we will come back here to 1 market, and continue our conversation with Brad Gerstner after this. Is control. This is the pursuit of perfection. More than an apparel company. Weve always been an innovation company. Using technology is a critical differentiator. Changing the expectation that the consumer will have for what a sports brand should be for them. This is where were going to need a big, bad, technology partner. Bring in. Cue the bell. Sap. Under armour is a live business. We can anticipate the issues and needs that youre going to have using live data, to really understand the needs of the athlete. To make better decisions that meet our consumer where they are. The right place with the right product at the right time. The days of the eighteen month supply chain are something that we are quickly putting in our rearview mirror. With plans in place right now to cut that by as much as twenty, to thirty, to forty percent. So what sap really does for the under armour brand, it truly allows me to run our business endtoend. I want the show you the sector heat map as we see the market reacting to a number of f factors today. You can see the financials are really a drag today in the market as we are back pat 1 market with Brad Gerstner of Altimeter Capital. And how are you thinking of the market with the so many variables to consider . Well, it is a great question. After the profound words of the president , you nknow, kind of reminding me of these events of terrorism are weigh iing in on e market, and i think that the vote on brexit next week is causing instability, but the short term data of the short term market to the market, and it is not to say that there are not real economic challenges on a global basis, but as we sit here within 100 miles of here, and looking at the valuation going on everyday, it is more significant than ever, and that is what we are e focused on. And we have gotten to know you more recently because of the United Airlines situation, and how that industry has turned itself around, and how come the stocks have not done better recently . Well, the stocks are following pricing, and what we have seen is the price of jet fuel fell by 75 in the year to year basis, and the stock prices are the ticket prices coming down to the benefit of consumers and generally the stocks have followed suit. We are expecting with the rebound in fuel prices, the reduck shup of capacity, and stable and q4 and stock prices are likely fall. Dritarullo, youre an invest . We think its a great company. We think theres going to be a multiyear story. Were happy to be investors and love the Leadership Team there. This is the intel on the inside for all Communications Gear from wha tsa pp to uber. Up next, we caught up with under armour ceo kevin plank last night at the nba finals. What their sponsorship deal with steph curry really means for the brand and what that phenomenon has done. More halftime back after this. The Halftime Report with scott wapner is the place for market moves. You dont call a company a sewer because they made money. Real money. Real debate. People think globalization has hurt businesses. It is not. Technology has hurt businesses. Competition is a good thing. I dont want to go back to a single trading day. I love the show. All i get to do is tweet about the show. Im on the show and the greatest moment of my life. Weekdays at noon eastern. In new york state, we believe tomorrow starts today. All across the state, the economy is growing, with creative new business incentives, the lowest taxes in decades, and new infrastructure for a new generation attracting the talent and companies of tomorrow. Like in rochester, with worldclass botox. And in buffalo, where medicine meets the future. 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Im never going back to a manual brush. Every year, the amount of data your enterprise uses goes up. Smart devices are up. Cloud is up. Analytics is up. Seems like everything is up except your budget. Introducing comcast Business Enterprise solutions. With a different kind of network that delivers the bandwidth you need without the high cost. Because you cant build the business of tomorrow on the network of yesterday. All right. Were back at one market. A rough night for the golden state warriors, last game five and didnt close out the finals. Steph curry is a big name and now for under armour. I caught up with ceo kevin plank and asked why curry has meant so much to his brand. For shareholders its been an amazing impetus for a lot of growth that weve seen overall and were really starting to see it. Talk about just getting started, finishing the first quarter, like were not even halfway through this thing so how big he can be, i dont know if hes changed the game. Certainly bet the game and were seeing the results that have with our own business and the broadband appeal no. Other player thats had the appeal that steph curry has had in the nba. He makes the game human for everyone. Hes not the tallest or the biggest or the fastest, but hes worked on all those and honed those skills to make him the best, the best competitor out there and were really proud of what steph curry does. A great atmosphere last night, guys. The result for the Hometown Team wasnt so great. Undeniable results though that steph has had on under armour, particularly when they are trying to grow their footwear business, accounted for Something Like 70 of the growth alone in footwear. And thats what they want to grow. We see what it is in terms of what percentage it is presently of under armour and when you look at that its amazing. They had growth. Deutsche bank had a note out talking about going into june 4. They talked about 125 growth. I mean, talking about footwear and thats the place to be. They got the right person in steph curry, a great representative you would want to have and footwear, where they need the growth and getting and seeing some of that now. Ive come to you guys a number of times, doc, and its a hold. Im not going to buy it. Maybe im a little bit concerned that its the valuation is a little strempd for where the business is, you tell me. I need a new product, judge. I think the growth that pete mentions is why the stock is where it is because of the forward looking nature of the stock market. However, i dont know that this new shoe is lighting anybody up right now, and as great as steph curry is, i think that they need to show me something new and maybe its a new category. Maybe its an extension on the womens side with running and things like that. Whatever it is i need to see that. One last thing i would say about under armour. Inventory growth, thats the value. Lost a couple of executives. Inventory growth is growing faster than Revenue Growth right now. Thats a problem and thats why they have got to do something on the management side. Watch the remainder of the interview, by the way, with under armour ceo kevin plank at cnbc. Com halftime. Check out the rest of that again. Again, a great atmosphere and thank him for spending time with us. Doc, you mentioned to me a moment ago in the time we have left, you made a trade. So fund. I bought it in my portfolio, chinese portal for real estate, soufun, half of where it was last year. Thats why i bought it. You mentioned earlier, market driven, the vix has come down a little, stock market came off its lows. And when you look at the s p still negative and vix still negative, big spike over 22 is not holding. Guys, its been fun. Good thanks to all the folks here at the bureau at one market. Great hospitality. Hope were back sometime soon. Power starts now. And welcome to power lunch where the market and your money are headed into uncharted waters. Have no fear, more than a trillion dollars worth of Investment Advice coming your way. Im michelle here with brian and Melissa Tyler is on assignment. Lets forget about denmark, nice country, legos are great but also forget about japan because now its the debt of global powerhouse germany that has seen the yield on some of its debt go negative. In other words, you have to pay
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