Transcripts For FBC The Claman Countdown 20240712

Blasting off, Team Bidenharris hoping to win back the white house from President Trump and Vice President pence, job creation, clean energy, Social Security and medicare protection s all on the docket as well as tax hikes for the rich and on large corporations. Our allstar panel will duke it out, and react. And in his first interview since joe bidens acceptance speech last night, Billionaire Hedge Fund giant and democratic fundraiser mark lazzry is here is he ready to pay more taxes under a Biden Harris Administration and why he says, centrists should not fear a bidenharris ticket and by the way, well forgive mark because hes really celebrating today hes the owner of the Milwaukee Bucks. They won last night, and well ask him about the nba bubble versus Major League Baseball cancellation culture, as well as yet another game getting postponed due to covid19. Tesla election trish regan fridaying its way past one of the biggest names in stocks the company now being called the new apple, as the markets reigning mvp begins to look more like a goat, yeah, greatest of alltime. Were less than an hour to the closing bell lets start the claman countdown. And we begin with this breaking news. Just so you know, full house star Lori Loughlin has just been sentenced to two months in prison for her role in the College Admissions bribery scheme, named operation varsity blues. She will also pay a 150,000 fine, and perform 100 hours of community service. Earlier today, her luxuries, the fashion designer, was sentenced to five months in prison, two years of supervised release and a 250,000 fine, 250 hours of community service. He has to surrender for his sentence on november 19 but both are accused of lying and trying to get their and paying to get their two daughters into usc those daughters are no longer attending usc. Need to tell you we are t58 minutes before your last chance to get in on tesla before the five for one stock split. It seems there is no stopping the electric vehicle giant surging again in this final hour look at this gain up 4. 5 , pushing even higher above the 2,000 per share level stands at 2,089. While the Companies Already the most valuable auto maker in the world, more than, really . Volkswagen, porsche, the whole thing now has a higher market cap than walmart. Taking a look at teslas biggest competitors were talking about nikla and workhorse. Those names are a mixed picture, with 2. 7 weve got nikla down 3. 9 workhorse losing 1. 5 to pharma giant pfizer, they say their covid19 vaccine is on track for regulatory review as early as october. Companies announcing positive results for the phase i trial of their second vaccine candidate, thats showing fewer side effect s than the first. Shares of both Companies Moving higher really getting the big jump here about 9. 9 higher, pfizer up half a percent. And super hot chipmaker nvidia surging to an alltime high, just sizzling on a bullish note from jefferies which raised its price target to 570 a share, were at 504 right now up 4 , and analysts mark lip acides says the chip giant will continue to surprise to the upside and could become the apple of the Data Center World shares as you see , just continuing to spike off the highs of the session though, but look at the markets. Look s p at a record, nasdac at a record, no wonder the markets are moving higher in this final hour because from the looks of the u. S. Data out today, stocks are sailing under blue skies did you see the ihs market pmi, the purchasing Managers Index gives us an indication of the health and Manufacturing Sector boy it definitely looked healthy beating expectations at 53. 6 in august versus 50. 9 in july and flip it to existing home sales seeing a crazy surge in july. Jumping 24. 7 month over month, with a back drop of low Interest Rates and high demand for more Square Footage during the pandemic this is the highest rate since december got to go all the way back to 2006 during the housing bubble. But if you broaden the picture and we need to tell you, because we want to give you all the news , the ihs market eurozone composite pmi also out today, fell to a twomonth low of 51. 6 from 54. 9 in july and yesterdays weekly initial jobless claims here in the u. S. , these are the new applicants for unemployment, didnt get much attention but they did jump back above 1 billion last week. Let us get to the one of the Top Economists in the world who says beware the economy is premature ly losing steam. The man himself is here with us right now, of olion. We just presented this war shack test of data. You see something others might not. Whats driving your interpretation of a premature leveling off of the recovery . So as much as i welcome the strong housing market, the strong pmi market data that you mentioned and these are really important developments i worry about the labor market. I worry about workers and i worry about their ability to continue to power consumption and like i say we saw an increase to over 1 million in jobless claims thats a worry and then look at europe like you pointed out the pmi have already come down so i worry that the Global Economy is not just leveling off. Its starting to prematurely come down and we need a much stronger recovery. Liz is part of your thesis the fact that europe seemed to have gotten hit by covid first and then seemed to have recovered more quickly than the United States so are you looking at them sort of as canar y in the coal mine because right now what were ses starting to spike in certain areas of europe once again. Youre absolutely right. We all praised germany for getting a handle on the virus, and for having an economy that reopened in a healthy manner. Guess what they are now seeing cases at levels not seen since april so this is going to be a marathon, until we have the vaccine distributed until we have heard immunity, its going to be a marathon and on the one hand you have the real economy plotting along in the marathon and you have the markets sprint ing forward in a really impressive way. Liz okay, then we do have to ask about the how do you sort of brace for impact if you do expect there will be impact . A, do you, after record highs, which we are about to see , weve got about 53 minutes left of trade. Give me a sense of what youre seeing for the basic market which is seem to somewhat differ from the economy itself. So the good news, if youre an investor is that this is a market that has very good technicals. What do i mean by that . It continues to attract more money into it especially from the results sector and it is confident that Central Banks are a back stop. So the good news is you have very strong technicals that need a major shop to be derailed this thing go on for a while as weve seen and that is good and i admire all those people betting on that; however like a surfer in the ocean, a wonderful wave, youve got to recognize that at some point you need a hand off that otherwise this wave breaks and that is fundamental and what i tell people is bet on the technicals but make sure you understand what it takes to keep this going make sure you know what indicators look at to reassure you that the technicals are strong and at some point maybe later on we can talk about what that means, does it mean going to the auction market looking what derivatives are doing and we have some people doing that really well. Liz okay. Guide our viewers. Do you feel that they should be in certain stocks, or different Financial Engineering opportunities that you see out there that might not be just a traditional equity play. So i tell people, if youre on with very strong Balance Sheet and positive cash flow, apple, microsoft, then make sure you can stomach volatility going ahead, but these are companies that are fundamentally sound with both resilience and agility and thats what you need in this environment. You need both. If, however, youre starting to stretch really far, to bigger things that dont have either of these things, dont do that. Wait. Because wait the price is well addressed at some point to allow you to pickup those companies so be much more bifurcated in how you address the stock market. Liz always good advice thank you very much. He sees a little bit of a premature slowing down on the economy folks, so we can be excited about records from a daytoday basis but just be cautious. Good to see you thank you so much as always. Thank you. Liz all right, youre welcome. Slap some lipstick on that stock with the closing bell ringing in 50 minutes, dow is up 213, beauty giant estee ladder making a comeback after yesterdays selloff triggered by an earnings disappointment so whats driving that today a 4. 5 gain well an upgrade from msnbc to overweight from equal weight on the longer term potential of the name behind clinique, they got pretty shares today, and democratic president ial nominee joe biden made many broad promises during his Democratic National Convention Speech last night. Will they be enough to move undecided centrists and undecided republicans to pick the former vp over President Trump. Our expert panel about to duke it out the claman countdown is coming right back, s p and nasdac you guys could witness two records in just a few moment s. Together we can and will rebuild our economy, and when we do, well not only build back, well build back better, with modern roads, bridges, highway, broadband, ports and airports, as a new foundation for economic growth. Liz joe biden capping off the final night of the virtual Democratic National convention by officially accepting his parties nomination for president he outlined multiple economic pledges you just heard some of them but also included a promise to create 5 million new manufacturing and tech jobs. But did he give enough detail to convince centrists and undecided republicans to our Political Panel joining me former by phone former Virginia Republican congresswoman and baker donald son Senior Advisor Barbara Comstock and democratic strategist richard goodstein. Richard ill begin with you a lot was riding on this speech. Rate the swaying powder, power rather of his speech to bring undecided to his side. I think it wasnt just the one speech although it was powerful it was the whole week where he had one prominent republican after another come out and endorse him. Think about it with the possible exception of bob dole theres not a living republican president ial candidate or spouse who is supporting donald trump for reelection and theres a reason for tha. I think that people bought the con as both Mike Bloomberg and marco rubio called it in 2016 and now they realize that affects their life, not just coronavirus but the economy. Look if you like the bill clinton economy, i think was the joe biden message, youll love what were going to have under joe biden, the restoration , look 22 million new jobs under clintons ideas and billbacked america is not just talk. Theres substance to it. Obviously a speech like last night you cant get through all out it. Theres a reason the Business Roundtable ceos talked about dealing with the whole economy not just profit and i think thats what biden was talking about. Liz congresswoman comstock, as a republican, were you swayed well i think what joe biden did was smart last night. Hes really running on personality and didnt have specifics on the economy so i think he has rejected through the warren and Bernie Sanders populous assault on technology and businesses in general, but instead he talks about things that are smart for him because the strongest place for President Trump is economic policy. I know as a candidate the actual policies when you took the trump name off of them were much more popular than the personality and unfortunately for the president his personality, the toxic personality which has caused some of the republicans you saw this week, as well as the democrats the focus on his personality, thats where the democrats are going to advance and dealing with the crisis of the pandemic and racial things but on the economy, joe biden should pray for a Republican Congress so that they keep this economy going well as we get through the pandemic. You look at today, the nasdac hitting highs our great Tech Companies that should not be broken up that i do work with them and we are trying to keep them from doing that but this economy is joe biden should not be taking it apart it was smart of them not to talk about those left wing aoctype policies that would do that. Liz richard . What about that . The details, we heard the broad strokes, but beyond talking about making the wets it pay their fair share, what is the plan to pay for what he talked about . 5 million new jobs, technology, you know, paying essential workers better well we all want to pay essential workers better but where does that money come from . Again, liz, we heard a similar criticism when bill clinton rolled out his economic policy. I know it seems like ancient history it wasnt that long ago, and every senior republican said this will lead to the worst recession ever and it actually led to the biggest boom in job creation ever, so this notion that raising taxes and i think what biden is talking about is skewing it so that it helps the middle classless so as Mike Bloomberg says guys like me. You know, guys like him who dont really need it, and the corporations are doing great i will say that i think what youll hear from a lot of democrats is this notion that trump has the greatest economy of alltime is a utter miss. If you look at gdp growth, there are countless administrations, fdrs was three or four times higher, jfk was two times higher. Bill clintons was much much higher so its a myth and a lot of people who watch Certain Networks buy it. Its just not true and people realize in their own lives its not true. Liz barbara that is one thing that the president has to wrap his arms around i would think because two weeks after the lockdowns, you had millions of people joining the unemployment ranks, so when the president says its the greatest economy ever, these are people who didnt have beyond two weeks of savings, once they lost their jobs, before they had to jump to unemployment benefits. Well youre right and thats why it was so important to get the bills sign the that actually were bipartisan, unfortunately, congress has gone home now and hasnt passed another bill, and i think people want to see that happen but i can tell you, i ran five elections during the obama years , against the tax raising increased regulation policies of the obama years, and they were not popular in suburbia. Now i did lose an election largely on the trump personality , not the policies so i think if think stick with the economic policies that are working and go back to them, strengthen the middle class, and not bring, you can not have this tough economy we have right now and start laying taxes on businesses trying to get back on their feet, on families that are trying to cope and dealing with education challenges, so large tax increases that are actually in the fine print of the democratic policies, be disastrous, coming out of this postpandemic and i havent heard anybody talk about on the democrat side, some new creative policies that really look at the 21st century economy and thats what we need to see from both parties. Liz well the time for tax cuts is during bad times, richard, is it not and by the way i do want to get to Kamala Harris his wing woman that he has picked, and why, you know, why she is the one to help him get the centrists not to fear the business and economic policies that maybe coming. Right so Kamala Harris i think is positioned exactly right, nationally and certainly in the democratic party. Shes progressive but not too much. She certainly was very friendly with the tech sector, but shes also shown her ability to stand up to big businesses and big industries, if theres a broader Public Policy interest at stake, and i will just say one thing. The employees of the tech sector will love biden and harris because they will probably restore the state and local Tax Deduction and also with chaina they will approach things in a multilateral way not this bilateral tariff on everything approach thats been a failure. Liz okay i just want to say whats on the screen barbara. Necessary all sandberg of facebook, brad smith, microsoft president , and linkedin founder, of course, the widow of steve jobs, and these are billionaires who have supported Kamala Harris , but you have a different view of her, and how tech views her. Well, i think the challenger right now is that you have democrats in congress who are attacking these tech success stories. I represented an area that was both a lot of small Tech Companies and big Tech Companies and they worked on a bipartisan basis. Look whose gotten us through this pandemic, so that we can work, so that we can have our conventions and we have tele health educating our kids, so we dont need to be doing what congress and actually joe biden did say we should break up these companies. They should not be doing that unfortunately, some on the right are talking at that too, so thats why im talking about we need to have a postpandemic dealing with a good Tech Companies that have helped us get through this , not attacking them, not increasing the taxes on Small Businesses. Can i say one quick thing, liz . Liz we got to run, weve got to run, because i started with a dem, i want to end with a republican because were fair and balanced so next time both of you well have you back. Thank you. Coming up, mark lazzry, the billionaire hedge found guy whose a democratic mega donor but also the owner of the Milwaukee Bucks who won last night. So much to talk to him about, countdown is coming back, dow is up 212. Introducing stocks by the slice from fidelity. Now you can trade stocks and etfs for any amount you choose instead of buying by the share. All with no commissions. Stocks by the slice from fidelity. Get your slice today. An extra 15 credit on car and motorcycle policies . Thats great thats 15 on top of what geico could already save you. So what are you waiting for . John stamos to knit you a scarf . All finished, jean. Enjoy thank you. I give. The stitch work is impeccable. Its just a double fleck pattern with a reverse garter stitch. No big deal. Is your hair this soft . Softer. Geico. Save an extra 15 when you switch by october 7th. Liz lets get to this tiktok soap opera with way less cash and market cap than microsoft, whats oracles plan to grab tiktok from microsoft clutches . Well, axios is reporting from the money guide oracle could join investors in making a bid for the u. S. Assets of the short form video app which president had has threatened to ban due to its chinese ownership but thats not really it. The less obvious advantage could come from the fact that oracle has drastically scaled back its dealings in china. Thats what may be an a chill sees heel, while countdown has exclusively reported that microsoft is the one in the seventh inning of discussion s and has the inside position to buy tiktok from owner, according to axios, microsoft is the only American Company with a Search Engine and social media network, bing and linkedin, inside china come play ing with beijing censorship and access rules this week President Trump praised oracle founder and said of the proposed sale, oracle could certainly be somebody that could handle that but he also said that weeks ago about microsoft but axios does concede that bite dance cant be forced to sell tiktok to one buyer over another. Microsoft was higher earlier today. It is down half a percent, oracle is also in the red for the second day in a row. From one big tech fight to another, apple shining despite multiple battles over its app store terms, now the iphone maker is asking a judge to reject epic games bid to keep its fortnite in the app store. Lauren simonetti now with the breaking details. Lauren yeah, liz unbelievable apple shares keep climbing to new highs despite locking horns with epic games as well as news publishers over the terms in its app store but investors slugging off all that drama as they look to get in on the tech giants 4 for 1 stock split before mondays owner ship deadline and apple set to close out its second day in a row as the only 2 trillion Value Company in the market. Deere also in the green, the Farm Equipment raising its full year outlook after beating quarterly estimates for both earnings and revenue, foot locker laced up and ready to go, samestore sales jumping 18. 6 in the quarter, the footwear retailer also reinstating its dividend after beating on the top and bottom lines in the Second Quarter and up next a cant miss interview liz going on one on with Milwaukee Bucks coowner, mark lazdry, the claman countdown coming right back. Businesses are starting to bounce back. But what if you could do better than that . Like adapt. Discover. Deliver. In new ways. To new customers. What if you could come back stronger . Faster. Better. At comcast business, we want to help you not just bounce back. But bounce forward. Thats why were helping you stay ahead and adapt with a network you can count on, 24 7 support and Flexible Solutions that work wherever you are. Call or go online today. Liz breaking news, we want to show you the s p and the nasdac, both could rewrite history, in just 25 minutes, when the closing bell rings, nasdac is at a record, s p is at a record, which is stunning, because so many names, i mean if i could pull out a couple, macys and hertz have had a very tough go of it since the lockdown. Hertz is 1. 48 right now it of course declared bankruptcy and macys is 6. 24. But theres money in them there, the hills of struggling stocks and billionaire mark lazzry has been mining it and also the man to envisioned the biden harries team and Milwaukee Bucks co owner too, what else are you doing mark the ceo, welcome to the clay monday countdown. Well thank you very much thank you for having me. Liz great to have you what do you make of the Market Action right now . Do you feel like its a little frothy . I do think i think im more in the minority. It seems that the market keeps going up, and then when you sort of look at whats going on in the economy and everything, it doesnt really make sense other than the fact that the fed is there so i think its really because of what the fed is doing that the market is reaching new highs. Liz let me just quickly get to whats happening in the last 24 hours. Bidenharris gave a speech last night, you have been a supporter first of her, of Kamala Harris and then of joe biden. Boy she certainly galvanized donors. The Biden Campaign raised what 48 million and as a member of the biden finance committee, mark, has that paced out since bidens speech last night . Yeah, no its actually been going great. I think Vice President biden gave a phenomenonal speech. I think senator harris did the same, so so far so good. Theyve been raising quite a bit of money, and it looks like they are a phenomenonal ticket together. Liz Trump Supporters would say that the trump economy looked pretty good until the pandemic struck. Depending on the poll, while trump lags in a lot of areas he still leads on the economy. What is the plan for biden to shift that and i want your perspective, because you are a businessman. You are a billionaire a guy who is selfmade. Look i think at the end of the day, what Vice President biden, senator harris are going to do, i think they are going to end up working on trying to grow Small Businesses and trying to make sure theres more loans available to those businesses, that theres more capital available to people. I think for a business it will all end up being pretty positive so thats one of the reasons why im supporting them. Liz gop lowered the Corporate Tax rate to 21 from 35 . A rate back then that had companies leaving the country. Is it just a matter of raising the Corporate Tax rate, and if so, how high do you anticipate a biden harris ticket would raise it and to what level and whats the underlying policy objective there . Well i think at the end of the day, i dont know how high it be raised. I think it was lowered a little bit too much. I think it can go back up. I dont know what the number is whether thats 23 , 25 , or even 30 . I just dont know, but at the end of the day the main reason that you would raise is that you want to try to get more money into peoples hands, that if you raise the corporate rate, you might be able to lower income tax for people, you might be able to provide more social services for people, so ultimately at the end of the day i think as Vice President biden and senator harris will try to figure out whats the best way to get money into sort of the average americans pocketbook liz you know, joe biden said last night that the rich need to pay more in taxes. Obviously, you would say thats not a difficult call when it comes to billionaires like yourself but what about say a family of four at 400,000 income aftertax, taking home 250,000, when they have to worry about saving for college, paying the mortgage, et cetera. You know, its not a surprise to you the democratic proposals can scare people like that. The question is at what point are you putting an additional burden on the middle class and who does the Biden Campaign, and the biden group consider to be the wealthy . I think thats all going to be figured out and i think there s time for that. I think at the end of the day, can we all pay a little bit more yes. Does that mean, is it an extra percent, an extra 5 . I think thats going to be figured out but i think all of us can probably do a little bit more. Liz ive got to get to the milwaukee buccs. First of all congratulations on the win last night. That was amazing. So now its 11 against the orlando magic, right . Tell me what youre expecting for game three. What im expecting is a victory thats a win. So look, at the end of the day, i think for us, orlando is a very good team. We should be able to beat them. I think we can beat any team and we should be able to get to the finals if we play our game and the goal of the other teams is to make sure we dont play our game but thats all basketball is about its being able to do what youre supposed to do and stopping someone else from doing what theyre supposed to do so i think we were surprised in game one, i think were back to where we should have been in game two but in game three and four youll see us playing our game so hopefully, we end up finishing this series a little bit quicker. Id like it to be over in five games but it could take six. Liz [laughter] yeah, im sure you would. You know the nba has been pretty much the absolute leader here not only with all things covid, paying for instance to figure out the bubble first to understand the need to close down, first on Racial Justice or at least having the players be able to have the freedom to exhibit that with shirts, et cetera, but seems to be a league with owners who understand how important that is, but how much of it is the owners, how much of it is the league telling the owners what to do . Oh, lack i think its a partnership. I think ultimately, i think adam has done an absolute phenomenona l job and the leadership at the nba has done a great job and that starts with adam. I think the owners have worked together with adam and i think at the end of the day its been a partnership with the owners with the players, and with the league itself and i think thats why what youre seeing is why weve had very little issues, and why were doing extremely well, but it only starts to be blunt, with the top and i think adam has done just a great job. Liz as i understand it, he bought the team several years ago, for 550 million, and forbes has the value now at more than a billion. Youre smiling i can see that. I can see that. Youre a smart businessman obviously. Why not take profit . Any chance that you would sell at what appears to be a very high level here . You know, i think when you buy a team, i didnt realize how much i would enjoy it. I didnt realize, to be blunt, how much i would really love it. I think you absolutely enjoy the experience. I think for us, you know the goal is to win a championship, and once you win a championship then the goal becomes to win another championship, so i think for me right now, its been an absolutely unique experience and i want to continue that for the foreseeable future. Liz im not saying this will happen but lets say you dont get it. Everybody says that youre star yanis would possibly decide to become a free agent or let you guys know he wants out. Is that a trade you would make . Look i think ultimately at the end of the day well deal with this at the end of the season. I think if we do what were supposed to do, yannis is going to be happy. We cant control what yanis love s to do. I think he loves milwaukee and the Coaching Staff and the team, he loves his teammates, so all in all, i think everything is really positive, but well deal with it, you know, at the end of the season when we can. Liz okay, i say go bucks, even though im a cavaliers im so bad, a cavaliers fan, lakers fan, whatever. Im the worst but i like bucks too because of your p r guy got me on board. Mark good to see you. My pleasure take care. Liz you too. Mark lasry, claman countdown is coming right back you want to witness a record just stay with me it could p ha in the next 14 minutes dow is still up 177. Heading into retirement you want to follow your passions rather than worry about how to pay for longterm care. Brighthouse smartcare℠ is a hybrid Life Insurance and longterm care product. It protects your family while providing longterm care coverage, should you need it. So you can explore all the Amazing Things ahead. Talk to your advisor about brighthouse smartcare. Brighthouse financial. Build for whats ahead℠ brighthouse financial. Find your getupandgo. Find pants that arent sweats. Find your friends. Find your sense of wander. Find the world is new, again. At chevy wed like to take you there. Now during the chevy open road sales event, get up to 15 of msrp cash back on select 2020 models. Thats over fiftyseven hundred dollars cash back on this equinox. Its time to find new roads, again. Liz bring on the quarantines, if this pandemic has been good for anything its alcohol sales despite restaurants, bars and stadium closed or restricted during the lockdowns many states have reported that from the start of those lockdown, beer, wine, liquor, been flying off the store shelves in North Carolina alone sales up 12 in the spring and summer, to a new record of 1. 37 billion. Problem is, not all alcohol producers are benefiting. Craft distillers expected to see 2020 revenue fall more than 40 . How are the little guys staying afloat . Christina partsinevelos live in the kings county distiller in brooklyn christina how are they doing it . Reporter liz, well you think a lot of people when at home during lockdown they felt they were bringing a lot of alcohol but unfortunately that increase in sales did not offset the losses for the flourishing craft distillery industry. Like you mentioned im here in brooklyn at kings county and they are trying really hard at this moment because now their tasting rooms are finally open but only outdoors and trying very hard to offset losses. Our company, we went from about 40 people to about 25. I mean, we had a bar staff so weve had pivot a lot. Reporter the distilled Spirits Council predicts or says that last year, they had retail sales of 3. 2 billion, but they are predicting a loss this year of 700 million and the reason the industry is hit so hard because they rely so heavily on these tasting rooms which unfortunately have been closed. And to make matters worse, liz, alcohol especially beer could face sticker shock because of federal excise alcohol tax cut is expected to be done by the end of this year. It was enacted in 2017 unless congress is extending this tax cut it could dramatically affect small producers. The Beer Institute actually predicts that breweries across the country could face an additional 130 million in taxes, and that will affect also spirit makers as well which is why we came here to kings county and they have to get creative. Theyve been doing very well online and like a lot of places across the country and new york they are creating these bottled cocktails to go and you can see people taste testing behind me and this one is a white rye dabbinger it and theyve been selling merchandise but the hope is that the industry wont go bottoms up back to you. Liz oh, save me some. [laughter] listen no, no, they have to hang in there. We like our craft, yeah of course, of course you are, christina. 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Of course, you can use it to pay some bills, cover medical costs, update or repair your home. But best of all, it eliminates those monthly mortgage payments so you get more cash in your pocket, every month. Learn how you can use a reverse Mortgage Loan to cover your expenses, pay for healthcare, preserve Retirement Savings, and so much more. A lots changed since 1961. Since then over a million Older Americans have used a reverse Mortgage Loan to finance their retirements. It meant so much to nellie, maybe it could mean as much to you. Call now and get your free infokit liz right now weve been making such a big deal of s p and the nasdaq, solidly green for the week, fourth up week in a row after hitting multiple record highs of the last few days, guess what its going to be a nailbiter for the dow, if the dow does not lower, the dow will snap a two week winning streak, right now the dow is up 211 points, if its up 219 that turned into positive for the week. So investing, what is hot and what is not, the oracle of omaha himself, Warren Buffett putting down 10 billion in one bet on pipeline assets from dominion energy, a rare investment during the pandemic for the Berkshire Hathaway chair, todays countdown closer says pipelines could be the play for your portfolio too, capital chairman joining us now, all right george why pipelines at a time where things like elon musk electric vehicle empire test tesla is doing so well, we have this moment in time where people are not driving as much. You know you have very few opportunities in your investment career to have things that are just so obvious that you feel like youre missing something, they are so good, apple had seven times earnings, x cash seven years ago, microsoft will times earnings, the same period of time, todays pipeline stocks, they traded ten times earnings and yield about 10 it does not take a big imagination over a fiveyear period to have 50 plus annualized return with only small gains in the price of the stock. It is like free candy being handed out to investors but they dont take it. Liz free candy in a way, i can bring up apple having been ten times, a measly ten times more earnings. Every member that, apple is cheap and nobody was looking at as something truly sexy but look at these did it in place, whatever youre doing a need to stop and look up. What we have when it comes to georges pics, their major dividends, 9. 8 for enterprise product, you have 16 for imperil, the type that i get worried about is the better than the actual companies themselves, is that a problem customer. Not with enterprise and Kinder Morgan and some of these investment rate stocks that have termites Balance Sheets that the founders of the companys own 2230 of the stock, billions and billions of dollars of stock, they are buying back stock like crazy and other dividends covered about 1. 6 time, theyre very safe dividends, the real head scratcher why the market has not woken up yet. It shows how outoffavor oil and gas is. They charge a toll to move the oil and gas around we will need to do that for the next 20 40 years. That will not go away. Liz george, we have 30 seconds left, what are the biggest hurdles you see for investors right now. Getting away from the thing that is hot and working out whether its tesla or zoom or apple at 35 times earnings and microsoft of 40 times earnings and pivoting away stocks that make a lot more sense for the next five years, apple has been great, im owning it and trimming it and moving into areas that have a much better chance to make 50 plus the next five years. Liz trendy but not entirely selling your stake in apple . That is correct. Liz it is a great point that you make. Thank you so much. All right, it is a new page in the history books for the s p in the nasdaq, both closing records, the dow not quite make it in the positive for the week but up 198 points, have a great weekend, that will do it for the claman countdown. Melissa finishing the week strong, stock near the highs of the day with s p in the nasdaq below both closing a new record high, it is the second in a row for the nasdaq, and Melissa Francis in new york and this is after the bell, where in the world is connell mcshane. Connell on the road again, good to see you. Today were in washington, d. C. As you can figure out, the focus will be shifting next week for the Republican National convention. A lot will be held in the city. We will talk about that but in the meantime were watching apple, tesla, surging higher, both stocks hitting new alltime