tv Making Money With Charles Payne FOX Business February 18, 2021 2:00pm-3:01pm EST
the gold standard, so to speak ;) neil: all right. waiting for that mars rover to land later on today. we'll monitor that. charles payne monitoring everything else. hey, charles? charles: neil, like the old thing where you balance all those plates at one time. thanks a lot, my friend. good afternoon, everyone, i'm charles payne. this is "making money." breaking right now, house members grilling the ceos of robinhood, reddit, others involved in the gamestop saga last month. that stock jumped 2,000% before it was forced back to earth. the biggest investment winners in 2021, talking microcap to bitcoin, it is clear to me small investors are still winning but it is also clear that power elites and their allies in the financial media have circled
bandwagon, the wagons, rather. the question will lawmakers go against their biggest political donors or finally look out for the little people? major indices under pressure mostly because of profit taking in some of the hottest stocks. that started last week t continues right now. the question here is this the beginning of a longer decline or should we be spying new buying opportunities? we to the you covered. hundreds of thousands in texas are still without power for a fourth day. the governor pointing to push toe things like windmills. remind us the fragility of our power grid and need for stable energy. we'll delve into that and much more all on making money. ♪. charles: gamestop frenzy hearing is here as we speak. go to hillary vaughn who has been covering from the very beginning live from capitol hill.
reporter: charles, robinhood ceo vlad tenev has been on receiving end of most grilling for lawmakers. he openly admitted he had to cut off, cut off customers from buying gamestop stock because they did not have enough cash reserves to cover the deposit for their customers. >> true being concerned about reddit and enough capital to meet deposit requirements isn't that a liquidity problem? could you just answer yes or no? >> chairwoman waters i appreciate the opportunity to address that. >> yes or no? >> we always felt come fatherrable with our liquidity and additional capital that robinhood raised. >> please answer yes or no. >> we always felt comfortable with the -- >> i don't have time. i just need a yes or no answer. >> i stand by my statement of the additional capital raised wasn't to meet capital requirements. reporter: he admitted they are
not perfect in their communication with customers over why they had to pause some stock purchases, could have been better, but what was happening at the time was one in a million event they could not have predicted for planned for but they are now, saying they raised $3.5 billion as a cushion to cover them against any unpredictable volatility again. hedge fund citadel ceo ken griffin had a hard time giving lawmakers a direct answer to the question do they treat stock orders from a company like robinhood than differently a stock order differently from a stock order from company like fidelity. >> reclaiming my time, sir, who gets the better deal, one comes from a broker who is paying being paid for order flow and one not? can you testify that on balance there is no difference, assuming the same size of the order? >> size of the order is only one factor. >> you are doing a great job of
wasting my time. reporter: charles, lawmakers heard directly from one investor who made over $7 million from buying gamestop. he said he still bullish on the stock today but also facing questions about whether or not he used social media to manipulate people into buying the stock, running up the value of the stock. he says that he never intended to do that. that any advice he gave on social media was just from him as an individual who is interested in the stock and felt like gamestop did have the ability and does still have the ability to reinvent itself. that is why he wanted to bet on it and is still bullish today. charles. charles: hillary, back in the day they called that water cooler talk. now we have the internet. thank you very much. i want to bring in keith fitz-gerald, david nicholas and eddie ghabour. other companies are named after
the founder. you might want to name it after the ghabour advisory group. let me start with you, keith, from what we heard so far, not a lot there per se. it is intriguing. you got to wonder will anything come of it? >> you know i would love to believe that something will come of it, charles, but this hearing is going about what i expected. lawmakers are demonstrating a complete lack of knowledge of the things they're supposed to be regulating. the folks who are in the hot seat are doing everything they can to confuse the issue, deflect the issue, not answer the questions. so as much as i would like to see some progress i'm not optimistic. charles: eddie? >> frankly this is a waste of our tax dollars. i hate to sound so harsh and direct but at the end of the day nothing will change. we have bigger problems to deal with in this country than what happened with gamestop because again all they're going to do is grill questions, not have any solution or change anything. that's my opinion on this topic.
charles: you know, david, to keith's point often it feels like these hearings, it reveals sort of the ignorance, i'm not saying that in a dismissive way, of congress when it comes to these things, whether it is technology, whether it is how the internet works. some of the more nuanced things like paying for order flow. do they even have the real capacity to make sort of changes that many want just to level the playing field, not blow the whole thing up? maybe not having 140% of a stock short? maybe better disclosure, more transparency, things like that? >> yeah. i tend to agree with you. i think these issues we're talking about today can get pretty technical. most people don't deal with it on day-to-day basis. my congressman, congressman loudermilk. he sits on house financial services committee. i think he is well verse and and has the right questions to ask. government is always looking for somebody to blame, who is responsible for this, was any party injured?
every party has responsibility. keith mentioned that he was actually financial advisor. we have to disclosures, but there may be liability for him. after the end of the day investors are responsible for knowing the risk that they are taking. there is not an insurance policy. as long as everything is done correctly, everyone is risking their own capital and at the end. day they have to hold their own bag. charles: i like that, keith. you risk your own capital. it doesn't feel the rules are changed, the stock you want to buy, you want to support, you can no longer buy, you can only sell it. that rubs everyone the wrong way. we have some popular shorted ideas. a few of them are trading higher. we've all been around for a while. my big lesson in all of this came with a company called alexanders's. i don't know if anyone remembers it, maybe you do, keith. a department store. new york city. it was failing bad. the stock i thought was going to zero. we shorted it around 8, seven
bucks. i thought it was going to zero. they changed into a real estate investment trust. the stock went to 500. i've seen these things come back before. that is the moral of the story. a lot of folks are getting wrong, the assumption all these companies will go out of business. i'm looking to buy amc if it gets cheaper. >> that is a very interesting point. like you i came up through the school of hard knocks. i made plenty of mistakes. i have yet to make more mistakes. the key, a, doing your homework. b, companies with a future and c, not viewing this as gambling. i think there was a psychological change as part of the gamestop runup. people began viewing this going to the tables in vegas. they were going to the tables with the internet. the real question to me in all of this, what i really want them to get to the bottom of, did these folks on the social chat boards collude? were there professionals masquerading as individuals? did they manipulate the stock price. i bet dimes to dollars the
answer is yes if anybody really wants to take a look. charles: we will see about that. let's shift gears a little bit, guys, we're off the lows of the session in part to scuttlebutt. believe it or not after the 1.9 trillion goes through. maybe another package of $3 trillion. david, i got to tell you, i knew this was going to happen. ox have youly we knew the infrastructure one was waiting in the quiver, if you will. with emergencies that we've seen i think it is real easy for any politician to say our power grid is century old. we need to fix it. look at all the tragedies that we saw. 3 trillion, golly, what would that do on top of the 1.9 trillion to this market? >> yeah. it, this market is being fueled by stimulus. i think the markets have been runup since november on hopes of stimulus. now you add infrastructure to the list. charles this, is it getting ridiculous. i voiced my concerns about this. i think long term taxes are really going to be the issues, long term. short term, market will do well.
i think we'll end the year positive outside of any adverse black swan event. long term systemic risk for all americans. i think taxes are going higher. what we're doing this year in regards to spending. we'll pay for it t could be pretty significant, more than what most americans realize. charles: feels like free money, eddie. a lot of deficit spending. president biden ran on campaign of higher taxes. i would fear they make it retroactive to wipe out this year. i don't think he has enough might in the senate to pull that off. what do you think the market? it has been soft in the last few sessions but buy on dippers still making a move here and there. by the way are you guys doing anything while the market has been a little soft here? >> absolutely. we offered clients this morning during the dip we think we're in a goldilocks scenario of risk on assets for the next two quarters. we toll clients we feel like
we're in inflationary trade right now. the 10-year will go much higher than where we are now. we think the vix goes into the mid-teens. it will be already the risk is, the higher beta plays is where money is made. ft hb is an etf we bought for clients today. we have a strong conviction next two quarters. after that, inflation and fed changing their stance on interest rates will be the biggest risk to the market short term in my opinion. charles: right. real quick, i've got a breaking news here. fox business breaking alert. a lot of wall street titans are now admitting that they're dabbling in bitcoin including our very own keith fitz-gerald. keith, you made the dive. what is going on? >> i tell you what, i looked at this thing, i said bonds don't protect you like you used to. gold doesn't work the way it used to. it makes as absolute sense with all the institutions coming into it to think of the store of value concept. i bought a little bit of bitcoin. if it halves tomorrow you know
who last guy in was, me. charles: all righty. >> you got to go. charles: you go to go. less than a minute to go, david, i don't like seeing you down like this, my man. tell me something good you are looking at you would buy. fill in some cautious vibes, which is good, why you're great. you seem a little down right now? >> you know, i don't like down days. i'm not used to it, charles. i don't know how to react to these days. i think the tech sector could have resurgence. talk a about amazons a name we all know. amazon has been sideways since november. i think it will start to break out. quality company, strong earnings. last thing, gold hit a bottom in november t bouncerred off today at 166. keith is on the bought coin side of things. i think gold. charles: that is what i'm talking about, david, eddie, keith, thank you all very much. always a pleasure. thanks, guys.
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♪. charles: power outages in texas still and hundreds of thousands for the fourth day. while more than 300,000 are without power in louisiana, mississippi and alabama. so is this an inflection point? are we giving up the title of the world's largest energy producer in the name of being good global climate change citizens? all of this for the green, the wrong kind of green, maybe? jackie deangelis joins us with more. jackie. reporter: good afternoon to you, charles. what we're seeing in texas is that alternative energy sources can be unreliable in extreme weather, right. the desire to go greene so fast without back "up" support and diversification it can be detrimental in this particular situation. i reported from numerous solar farms and wind farms, if you go
there on cloudy day or day with no wind the equipment is sitting there. it is not working. you're relying on mother nature which is a force you can't control. take a step back, because something phenomenal under the last administration. america became the world's top energy producer. i'm talking about oil here but we unlock ad ton of natural gas with fracking. the saudis are pumping about nine million barrels a day. russia pumping about 11 million barrels a day. in mile-an-hour before covid happened we were pumping more than 13 million-barrels a day. we're back to the 11 mark in line with russia. the current administration push on alternative energy may not get us back to those peak levels we saw. we literally may be giving up this title. now the energy industry as a whole is about a 350 billion-dollar enterprise. alternative energy, if it grows at 6%, will only be worth a billion 1/2 by 2025. the functionality doesn't make sense, the math doesn't make sense here either.
as we try to transition, not only are we leaving ourselves vulnerable to power failure as you're seeing in texas, we're also giving up our power, our leverage on a global scale as well. this is something that the biden administration doesn't seem to be accounting for bowing to pressure from the far left on these green policies, charles. charles: jackie. thank you very much. for more on this this i want to bring in contributor from real america's voice, tom borelli. the pr campaign around climate change has been so successful even oil companies work against their own self-interest these days. we have been reminded, even the fastest transition to renewables will not happen overnight. what should be lessons we learn from what is happening in texas right now? how should it inform policy? >> well, first of all, charles, thank you so much for having me on to talk about the important issue of energy policy. what is going on in texas shows the unreliability of renewable
energy. it is a form of intermittent energy. when conditions are right it can supplement energy. in texas they're moving in the wrong direction. they doubled their wind power since 2015. it is now the second producer of electricity in texas. it is just ahead of coal. what we're seeing today is the unreliability. it is a full-page ad. people are suffering. and keep in mind, president biden wants to bring the green new deal on. he wants zero net emissions, carbon emissions by 2050. i don't see how we can get there. there will be a lot of pain, economic and actually human pain as well. charles: it seems to me, with some of these initiatives, government subsidies, you know, there is already talk of another infrastructure bill, three trillion dollars. you can bet 2/3 of that will be all for renewables, solar, things like that, that were
building a system anyway we're not prepared for. we have a century old electric grid. how should priorities be in place right now? if you could be in charge of our energy program now to say 2050? >> if i was in charge i would reelect president trump because he had the absolutely right energy policy. it was the america first energy policy. we became the largest oil and natural gas producer in the world. that is not only great for the economy, that is great for national security. you saw the graphic before. you have saudi arabia up there with oil. you have russia up there with oil. with biden's regulations, he will put the boot of government against our energy infrastructure. we're going to fall behind on energy, leaving it to russia, leaving it to saudi arabia and then higher energy prices are only going to hammer the middle class consumer. we're already seeing gasoline prices go up. when that energy price is filters through the economy, through other petroleum products
like plastics, the american consumer, the middle class will get even hammered more. not to mention the 11,000 jobs already lost with the keystone xl pipeline. charles: tom, before i let you go then, we're going down this path. it feels like the country, at least the country, government is committed to going down this path. in the past we talked about the money that we would save, the national security, the notion of sending our money overseas to fund things like terrorism. so are all of those things back in play? >> look, they really should be. look, it is a suicidal energy policy what is going on with president biden. look at former secretary of state john kerry. he flyies on his private jet to pick up a climate change award. keystone pipeline workers will get green jobs some day in the future. i don't see them yet, unless they are deicing wind turbines
in texas. this is a bad energy policy. the american people need to stand up. they will lose with higher energy prices. as i said we're already seeing it on the pump. it will filter through the entire economy. the middle class will suffer even more. charles: tom borelli, thank you very much. >> thanks, charles. charles: we continue to monitor the gamestop hearings on capitol hill. while there are sure to be more fireworks, we'll bring them to you whenever we get them. i will also explain why there is little chance of major changes in the system coming up. there is new york governor cuomo. this nursing home coverup is reportedly now under federal investigation. feels like that house of cards is collapsing. we've got the details. we'll be right back. they guide me with achievable steps that give me confidence. this is my granddaughter...she's cute like her grandpa. voya doesn't just help me get to retirement...
[announcer] durán catches leonard with a big left. ♪♪ you can spend your life in boxing or any other business, but one day, you're gonna take a hit you didn't see coming. and it won't matter what hit you. what matters is you're down. and there's nothing down there with you but the choice that will define you. do you stay down?
or. do you find, somewhere deep inside of you, the resilience to get up. ♪♪ [announcer] and this fight is a long way from over, leonard is coming back. ♪♪ ♪♪ ♪♪ ♪. charles: well, today the circus has come to washington, d.c. to discuss the reddit retail investor revolution and while there is sure to be fireworks
there is really little chance we'll see major changes happening in the system. i got to tell you the saga has been personal to me from the very beginning. after serving four years in the u.s. air force my entire life has been about investing and helping individual investors. i can tell you i had my ups and downs and i learned a lot of lessons the hard way. i have seen the system from the inside and i know there has never been a level playing field. yet i encourage people to participate because it is the greatest wealth creation machine in the history of mankind. even when the unfairness marbled throughout the system and a public relations campaign that is always been designed to keep individual investors chained to the dependence of professionals i encourage and continue to encourage everyone to be in the stock market. i mean, let's face it, people have been losing faith in the market. in the midst of a 10-year market rally investor pulled out 10 of billions from u.s. equity mutual funds. meanwhile young adults saw can't
miss long buy ideas from financial advisors, buy and hold like from ibm and ge only go straight down. what is a millenial to do when they see a headline like this? goldman sachs traders made $100 million on 14 separate days amid fierce first quarter volatility. goldman posted gains 53 of 62 trading days, encouraging the public to settle for pedestrian gains of about 7% a year for their own accounts. so i take the reaction from the financial media has been despicable in general, calling these traders dumb and doomed to fail and many of them by the way made a lot of money long before the financial media got wind was going on. i asked my guests for short ideas months before it became a frenzy. no one is out there looking out for the small investor. if wall street cared, the financial media cared about them
losing money, why didn't they say something when they lost a collective $400 billion on five blue chip names alone last year? heck, 40% of the s&p 500 were big losers last year. this whole thing has been keeping people in their lanes. some people will lose money and some people will make money f there was no risk, there would be no need for financial media. there would be no need for advisors. we buy great stocks going up with no dips. do something else. here is the thing, my greatest hope for folks not to lose faith in the ability to use all the information at their fingertips to make trading an investing decisions an make this a lifelong endeavor. maybe, and maybe they will get a break from regulators and others that feel the need to sort of right now always tilt the odds in favor of those hedge fund giants. here now to react john tabacco. john, i have to let the audience
know you have been finding stocks on stocks shorts for at least two decades. you are probably the most inside person i can find who knows the nuances of all of this. tell the audience what we're watching here? what's happening that they won't get from these hearings? >> well, first and foremost, charles, thanks for having me. this to me is another bought of kibe bucky theater. this will same result of impeachment hearings. nothing will happen. no one on the hill knows anything about short selling and vlad, the guys from citadel, they're up there just telling a bunch lies as far as i'm concerned. as you know i've been supplying short sellers with the main product they need, hard to borrow stocks for the last 20 years and the dirty little secret charles, no one knows in your monologue, you were talking about looking out for the little guy, the largest lenders of securities in the united states are public employee retirement
systems. the very funds built to save up for the future of our civil servants are lending stocks to the hedge funds so they can short them and put downward pressure on them. the one thing that no one wants to say here, maxine waters an congressman brad sherman did a great job of trying to drill down on it, they said are hedge funds getting special deals? they keep avoiding the question. ken griffin actually answered the age-old question that size does matter. the little guy gets treated worse than the big guy but the bottom bottom line robinhood is free around like facebook is freeh. facebook takes your data and makes money from it. robinhood takes your data to sell it to citadel to computer and sell in front of you. the shorts had market advantage. why goldman sachs makes money 52
out of 63 trading days. short selling is wall street's dirty little secret they don't want the little guys in on it. charles: in your opinion what will happen? kabuki theater dies down. something dies down, another hearing in two months, we're back to square one, are small investor on their own still? will they do anything to even make it look like they're trying to level the playing field? >> well, charles, i can tell you this, i know how much you care about our country. i know how much you care about individual investors. the real thing that we should being banging the drum on is if you want to see hedge funds stop making billions while pension plans are making peanuts, pension plan managers around this country should demand their custodial banks do not len made shares out anymore so they can be shorted. we can protect a big portion of society, public employee retirees. the hedge funds are making
billions. the plans that are supporting the trade literally making peanuts. i don't think the regulators will do anything, citadel and virtue, goldman sachs they basically have them captured this has been a game they have been running for over 30 years. i don't think it is going to change. the reddit crew did something good. populist uprising taught them a little lesson. melvin capital almost went out of business but, the billions of dollars they needed came from the hedge funds. bailout robinhood and little guy will only get hurt again. >> john, i got to tell you, no one, no one has brought up what you just brought up, no one has said anything about that in the last four weeks at all. my friend, thank you very much. we'll talk again very soon. folks, your pension fund is paying playing a big role in this. i have told aoc to do homework when she said wealthy people have a loan forgiveness program
called their parents. tweet me @cvpayne. tell me your thoughts. europe locked economy in place during the covid-19 pandemic. what we set up is a good test, should a country be built for growth or be built with a series of safety nets and no growth? we'll dive into that next. -well, audrey's expecting... -twins! grandparents! we want to put money aside for them, so...change in plans. alright, let's see what we can adjust. ♪♪ we'd be closer to the twins. change in plans. okay. mom, are you painting again? you could sell these. lemme guess, change in plans? at fidelity, a change in plans is always part of the plan. good morning! this is where everything lestarted.s, change in plans? the four way is engulfed in history.
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of france and germany. consequently there is signs that america's economy is on the verge of becoming a rocket ship. meanwhile europe is poised to drift at best. in fact after a bunch of strong economic data just yesterday, the atlanta fed lifted first quarter gdp estimate to 9 1/2% from 4 1/2%. could the boom in united states derail the yearning for socialism? i brought in one of the best to talk about, walser management rebecca walser. rebecca, we have our faults but we go with creative destruction. there is pain in that but the growth, the opportunities i think this is a chance this year for americans to say maybe we don't need to become socialists? >> wouldn't that be amazing. as a result of coronavirus is exact opposite what people wanting at the highest levels. but you know, it is funny, charles, an australian economist
termed and defined capitalism by the goal of creative destruction. in other words people have the nerve to believe there is a better way to do something, there is a better method to do something. we destroy the old and we come into the new. and that is what has made america so innovative. we are the most innovative country in the history of time. look it up. i promise you will find that true. so, yeah, if you're going to follow the european model, they have so many businesses that are completely frozen, charles. they're not laying people off. they're maintaining 50 or 87% of their salary with them sitting and doing nothing. nobody is going out to say, should we try to figure out another business? should we work from home? they are being paid to do nothing. charles: right. >> and so that doesn't work in america. yes we allow bankruptcies but then we also have new things that are birthed from the old. that is why we keep moving forward. i could argue again socialism all day long based on the history of america versus europe. you can see the dichotomy. charles: so thin how do you
explain it, rebecca? we're in middle of housing boom, a manufacturing boom, a retail boom, that will get boom ier, business start up boom and some people in this country think denmark is a better place to live, how do you explain that? >> i will tell you this, this is not perpetual. where we are right now has to be temporary. we're obviously still shut down in a substantial part of this country and if it weren't for the $6 trillion the federal reserve, cares, heroes act and new biden 1.9 coming we now this is stimulus that has to be done. if you put that behind us. trump years, energy independence, deregulation, we got our economy, he got his economy got this country going in the right direction. we have a stop this that. we have a new administration. we have totally different route. we're seeing the results of trump's economy. we are, charles. we haven't seen yet where we're going to be outside of stimulus with this economy still shut
down. so, yes, we need this economy to get back to growth because otherwise we're going to be europe. we'll become europe. we cannot stay shut down and stimulate our way forever. even margaret thatcher said eventually you run out of other people's money. charles: to that point someone would argue, take a look at your initial jobless claims this morning, almost 900,000 people. europe is doing its best to make sure that doesn't happen there. how do you reconcile that, we can have these things going on, you know, all of these strong pockets in the economy and going on but still that sort of k-shaped recovery where there is a large enough swath of people who are not participating? how do you, how do you push back against the notion that is why we need to change the system? >> you know, this one is really sector specific. so we obviously noknow hospitality, all kinds of entertainment, all kinds of travel, luxury, is being disproportionately affected right now.
you have to, the hospitality industry has to to in to work. they can't work remotely, hospitality doesn't work like that. drive-thrus, those type of things. this is disproportionately sector focused recession and we are trying the best we can through our social safety net to take care of those people in an interim period, charles. but we cannot sustain 6 to $8 trillion, i think anybody knows by the time we get by, $8 trillion when total federal debt is 27 trillion. charles: right. >> you're right. it will not work long term. this is temporary thing we're able to get through. we have got to get the economy back organically reopen or we will become europe. that is not what we want to become. charles: before i let you go we talked about some money printing earlier. the federal reserve doing more and more in this society, including buying of federal debt. they buy more federal debt than foreign buyers because the foreign buyers walked away. can a creature project kill island do it all?
how much can we rely on the federal reserve to take care of every aspect of society? >> that is what i'm afraid of, charles this is the death of america. there is saying rob peter, pay paul, taking it from one pocket to pay the other. we're buying our own debt. other foreign countries are walking away from it. what does that tell you? what that tells you when the dollar is no longer being bought we have a big problem. charles: rebecca, leave it there, always enjoy the conversations. something to think about. a lot of social safety nets over there. a lot of growth opportunities here which juan do you prefer? after months of media fawning all over him, governor andrew cuomo facing bipartisan pressure and investigation over the nursing home coverup. we'll get reaction to this from kristin tate right after the break.
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data and tried to coverup nursing home covid deaths. now a new scandal is unfolding with assembly member ron kim saying quote, cuomo vowed, toe quote destroy him after he dared criticize the governor. joining me now to discuss analyst with young americans for liberty kristin tate. kristin, this is really amazing. i was always shocked at kind of attention and fawning honestly that the media had given to governor cuomo in the midst of all of this, "the emmy awards," the books, all the self-congratulations. when we look at data, how many people were dying there, it never made sense to me. and now it's a lot worse perhaps than anyone thought? >> you're absolutely right. every aspect of this story is just shameful. andrew cuomo is reckless with human life. and now the american people including many new york democrats want him held accountable and an endless bureaucratic inquiries with no consequences it will not be
enough, charles. we now know more than 13,000 nursing home patients in new york died of covid-19 after cuomo disasterous's nursing home policy. this is a death order. thousands of people may have died as a result of it and then he went on to lie about it for nearly a year, cooking the books, hiding the true numbers as he was writing a book praising himself for his handling of covid. when he did face any questions about the nursing home orders, he was very quick to blame donald trump or federal health care officials or even nursing homes staff or grieving families anybody but himself. the saddest part about this elderly folks who would have had deaths prevent with no one able to hold their hand, their family members were not able to give them a proper burial. it was disgraceful. the fawning media coverage all
year allowed cuomo to be so reckless. charles: sadly a lot of folks in the media are not properly covering this story. hey, let me switch gears a little bit. i want your reaction to a tweet from congresswoman alexandria ocasio-cortez, aoc where she says very wealthy people already have a student loan forgiveness program. it is called their parents. kristin, your thoughts on that? >> well the majority of student loan debt actually belongs to upper and middle income earners. federal reserve released those statistics. bailing out student loan, it would be a massive wealth transfer from largely, taxpayers which obviously includes blue-collar workers and minority workers to largely, upper middle income earners. aoc and their solution to everything, charles, is more big government that i will wick ma the problem worse. if we keep subsidizing loans and colleges will hike tuition with
impunity. we will have another generation of students asking for bailouts. we have to privatize student loans. that is the only way they drive down prices. >> why don't they ask young people not to go to college if it is not worth it? if it is not worth 50 grand over your lifetime, we know it is, hey, go into the labor force, create trade schools? anyway, kristin, always a pleasure talking with you. thank you so much. folks we'll be right back. >> thank you, charles. ♪ ♪ ♪ ♪ ♪ ♪
charles: yesterday i had the honor of moderating a panel with the hedge fund legend felix so love, and i got that admit, it was like going to school. they see a commodities super-cycle, and i've got to tell you, they're not alone are. in fact, more and more brilliant folks in the industry are saying we are on the cusp of something like that right now. i want to bring in strategic wealth partners president and ceo mark tepper. mark, we've seen crude oil breaking out, west texas intermediate, industrial metals have gone a lot higher, agriculture is on fire. i kind of like this name the, particularly as maybe a hedge for inflation. what are your thoughts? >> i've been waiting for inflation for the last ten years or so, and it hasn't happened. i agree, i think at some point we're going to see it because there's no doubt the money supply has skyrocketed over the last decade or so, but we just
haven't seen the inflation yet. i do think it's coming, but how long am i willing to wait for it, you know? i've got limited capital, so i've got to make sure i allocate that capital where i can make money. [laughter] biggest issue right now is the savings rate's too high. charles: no doubt both of those guys have a little bit more money tan anybody watching the show -- will [laughter] they have the luxury of waiting for this thing. but put it on your radar, and there are stocks you can buy like freeport-mcmoran to be positioned for it. >> yeah. charles: let's talk about this market. under pressure. here's the thing that i'm seeing, is the biggest winners are giveing up a lot of ground here. i personally like when this happens. if you took just a week ago the top 20 winners on nasdaq were up an average of 145%, at this moment they're up an average of 123%. if you missed it, maybe you have the chance to buy them on a dip. share some of the things you do
when we have a dip, how do you go about identifying what you want to own? this. >> great question. so first thing's first, we always maintain a watch list. these are companies where we love the management team, the growth story, but the price is just a little bit of out of -- bit out of reach. and whenever a company pulls back, that's when we pull the trigger. look at stamps.com today. great quarter. they blew out all their numbers, but they provided no guidance, so the stock's down 20%. e-commerce is a secular growth story, so we with already own that. we'll be buying more here. and the other thing you can do is identify your favorite stocks and the entry point. maybe it's the 50-day moving average, the 200-day, the last place where the stock broke out two months ago, identify that entry point and just be patient and wait for it to fall in your lap. charles: real quick if you can, you mentioned stamps. is are there somethings else you like? i've got 30 seconds before the closing bell. >> aspen aerogel. they actually report report to
after the bell today. pulled back about 15% over the course of the last week, good buying opportunity. he's the thing, investors view it as a housing play and it's priced accordingly. i think it's an ev play -- charles: aspn. mark, you are the man. liz z claman, mark just gave us an idea that reports after the bell. i love that gumption. liz: i know. can i be an usher at your next event where you're there with these guys? [laughter] charles: it was virtual. liz: i'll do anything. [laughter] oh, okay. charles: when we do the switch, i'll bring you with me. liz: oh, yeah, you got it. davos, here we come. thanks very much, charles. two and a half hours into the gamestop hearing, and we can say that purely from the standpoint of the ability to move a stock price, only one of the five key players in the january gamestop trading frenzy haveve