Investment committee ubs private wealth management. Hes one of forbes top 100 Financial Advisers stocks have given back about half the gains they had earlier today. Dow was up better than 800 points there are concerns lingering about the virus. How quickly the economy will bounce back. I think jim took me up on my invitation i was going to catch the u. S. Open and the opening game of the phillys and the Training Camps what else is there to do other than to be on your show, judge im glad to have you. Of all days. We had this huge run now we had this thunderous move down what does the action tell you about where we truly are im kind of hoping we trade sideways for a while theres some stocks that came down that i think are real buys. Im not kidding. Im not talking about cruise lines. Im not talking about airlines im talking about solid companies that have come back to levels that we havent seen in a while. I am all in on vaccine and ae s antibody i think masks, social distancing until we
Bit of a bounce. Not much. Were not going down. Trend aint your friend. Its been a downside. Look, target, it was. Reporter 225. Right. So i mean, that obviously isnt good for the banks. I think the fundamental story still stands strong for many of the banks, but obviously, this is one of the pieces that theyd like to they would love if this thing started to move and we had a 26. I dont know that were going to see it, scott, but theyll survive and theyll do just fine even in the environment right now. Yeah, if you look, joe, in the pags month, venture down 5 . They are. How does the trend reverse if rates continue go down . As some suggest if that trend continues, the whole market is going to fall part. I respectfully disagree been its more how does it go back. Lets talk about bank of america. 17 in november, 25, 50 at its high point, somewhere around there, 23. 50 today. Folks are talking about the move in bank of america being over. The financials are trading at the upper end they do
Apple news today. Company getting a big investment from Berkshire Hathaway, the Ride Sharing Service he just invested in there could be looking for a u. S. Ipo. Shares of yahoo up on quicken loans founder part of a Consortium Bidding for the company. Warren buffett says hell back it. Major m a deals, pfizer making a 4. 5 million purchase. But first, Berkshire Hathaway has revealed a new 9. 8 million stake in apple. Meanwhile, apple ceo tim cook visiting china in an effort to reinvigorate sales in that country. Hes expected to meet with chinese officials and is already met with the president of didi just days after apple announced that billion dollar investment in the ride hailing startup. Met with some other startup creators as well, posted waebo which has gone viral already. I think the story is the app store. 7 billion in business that regular Chinese People have done on the app store. Between that billion and billion last year and i think what thats about is to say you may think tha
Amazons success, one outperforming the giant this year. The retails surprising story, perhaps the next great trade. But first we start off with the lottest on the ground in london ahead of tomorrows key vote. Wilfred is live there for us now. Reporter just past 10 00 p. M. Local time. Big ben has just struck the tenth ring at the top of the hour. The latest Financial Times poll puts leave just ahead. The resulting poll of polls is 44 go to 43 stay. That has a small effect on the betting market. Which we know still favors remain. Weve tightened the odds such that 80 remain down to 74 as we stand this evening. Whats ahead in the next 24 hours here in the london and the rest of the united kingdom. Of course, the polls open at 7 00 a. M. Local time tomorrow morning. 2 00 a. M. Eastern time. They close at 5 00 p. M. Eastern time. Well start to get the first regions reporting results, estimates of these times at around 7 30 p. M. Eastern. And then all of the results should be through with an
Here. The company in question is called china evergrand group. Its hong kongs second largest developer. You put out a report in 2012, i have it here, some 61 pages or so in which you say the company was insolvent, used bad accounting and said it was a ponzi scream ay mong other allegations. In rendering its decision last week, this hong kong tribunal said, i quote, mr. Left consciously disregarded the risk his report was false and misleading as to material facts, reckless in conduct. Whats your reaction today . I dont think it was reckless in my conduct at all. Scott, look at that report. Its extremely well sourced. Its well documented. Everything is right there. Their accounting, in my opinion, was ponzilike accounting, taking from one person to pay back the person beforehand. And right now looking backwards, it probably wasnt the best idea to write an article on, i think its the largest Property Developer in china. That being said, you cant take away the truth. Hong kong has made con