A lot of other people did. A lot of people were short going into the report yesterday and looking for the market to make that big correction. They did what we thought they would do and, like i say, steve still had the odds as far as they were giving him those odz yesterday, they were very good. It was a reasonable bet that maybe something would happen. It didnt. They just have gone out and jawboned again, judge, and didnt do it. So they lose a little credibility for going out each time that they do that but, nonetheless, i wouldnt be an aggressive buyer here because i think theres smoke in the house. Not saying the house is on fire. Saying theres smoke in the house and so you have time what does that mean . That means you have time between now and december to get your belongings together and get the heck out. Pete . You know, the one thing ive done, scott, the game plan. One of the questions they asked the producers before the show, what are you doing . How did you change your game plan . Im not changinging it. We were trading 17, 18 going back to last thursday. Weve seen nothing but sellers. On tuesday we talked about people are selling putts, selling calls, theyre selling premium. Look at where the volatility index is now. It went from 15 two days ago. Here we are trading in the low 12s. Were right back to where we were. Protection is cheap. It gives you an opportunity to own. It gives you a great opportunity to do some stock replacement strategies. In other words selling stocks that youve had that have moved to the upside and you still want to be in market, you can buy pu puts. If you think the fed is going to go in december, do you buy stocks up until that time or do you use pops like this to lighten up positions going into december . I think you can own stock going through. Were going to get through debate so there will be volatility. To petes point, i was looking it at the same thing today that you actually had the vix trade below 12. Anytime weve seen that whether its been a week or two weeks its been a massive opportunity to go long because the markets come crashing down and you see a spike. It doesnt even take much to get the vix to 15. Youre going to make money in the move right there. So there is some danger but i did increase my exposure. I did think the fed was going to go and it was a great setup because i made a few pennies. So id say, look, i think you have to be careful where you take it. Im not taking it in the commodities or in the industrials, and im not very, very long. You are missing an option. Theres three things you can do, right . You can buy stock, you can sell stock, or you can go f flyfishing. Thats what im going to do tomorrow. You with buy stock, sell stock, or golf oregon fish. Breaking news when he says this. Exactly. What do investors take from the fact 23eg9 they didnt move, there were three dissenters. Thats probably the most important thing that comes out they can lead the way or they can lead you astray. I think in this case theyre more likely leading the way. I think when you get a big bubble of concern, this is the way the fed is going. Those are are the odds, more or less, from the cme or citi group. The onus is on everybody else to change these three peoples minds or else theyre not going to go in december either. I think that other folks including the fed chair, if you listen to what she said, she said if things go the way we think theyre going to go, the committee as well as i think its ten people on the committee, have a forecast for one hike this year. How much of this and i know its not in the minutes. They obviously talk off line, how much of this do you think was a free look it at the election and how the markets act and you how the economy acts post the election . Look, i think yellen is right at least on the surface that its not a political call. I think and im not saying it is. Politics by nature of the calendar have to play into the conversation in the room even if its not so overt. Here is the other part of it. If you assume they are human beings, and the hearing has come out in a variety of reports that the election has increased business uncertainty, one fact which is that all the people you know say the election is having a negative impact on the economy already. The trouble is politically they can never say that politics are influencing the discussion. Would they make a move on rates with three dissenters. The idea is for the other guys right, right, right. Yeah, yeah, yeah. I was confused. I think yellen would go along. The two fed governorance wou aa governors would dissent. When yellen says the economy needs more room to move, that it could possibly bring down the Unemployment Rate further without igniting inflation, i dont know what that means exactly. The data. There are three jobs reports between and that december meeting it. If you could tell me with certainty what theyre going to be i would tell you what to do. Big name market watchers have been saying, we documented what folks said at delivering alpha where there was a little bit of a cloud over the mood. A little. Citron of Discovery Capital writes a letter and says a correction could be coming, could last three to four months, could be the biggest since 08. That in a note to his clients. We dont talk about him much. Hes not out there publicly but is well respected within the community. I know rob. Hes very smart. A great investors. Larry fink says stocks could fall 15 unless you get some sort of fiscal policy enacted. The fed is the only game in town and at some point its going to run out. Joe, we havent heard from you yet. Absolutely, great. All sounds good. Its the story of 2016. No one believes the market is going up. If you can trade your own p. A. , you have that flexibility, you have the good fortune, you dont buy stocks right here. Youre playing things like pete and jon are doing, youre doing derivatives. If you care about your job, think where we are month to date in the s p. It feels like a lousy date. The market is higher. If you care about your job think whats happened the last 48 hours, bank of japan, ten handles higher, yesterdays move higher, this morning another 100 higher in the dow and the market is not going down. What are you banking on at this point . Let me finish. A chart that shows the feds outlook for its own Interest Rates has come down and come down to where the market is. The outlook for the rates has gone down. You have a tremendous amount of capital. That is why hedge funds are underperforming. Everyone is so pessimistic. Bhar you bank iing on . If i say the market will be volatile, make the case how do you know that . The vix is at 12, scott. Today it is. As you get closer to election day, who knows the result. Theres a chance the market is going to be volatile right around the league after the election. Thats a fair statement. Its a fair statement i agree with. The reality does not suggest it is at 13. Today it doesnt. Make the case to buy stocks today knowing what could happen. Here is what could happen. The market continues to move higher. We go double digits on a year no one thought that was possible. We started down double digits. This morning im sitting there, im buying health care stocks, why . The tape is forcing me into the market. But thats going high er. Thats part of the problem. Look at all the people on the side to have that feeling of just to get in. Thats your mandate. Not necessarily the time. People feel this is exactly whats wrong. People feel, i missed it but im going to get in now. That it oftentimes signals closer to a top. You dont have to feel that youve got to be in this thing right now. You have to be very, very selective. How do you have this conversation in the absence of the discussion on what happens to earnings. Exactly. If you tell me a 6 bump in earnings, i could tell you to buy stocks in that context and i could tell you to buy stocks in that context irrespective of what the fed does. The Counter Point is irrelevant. Let me do this. Hold on. Let me get another voice in. Well continue the conversation because our next guest does say its time to be cautious following the fed. Joe davis is the global head of the Investment Strategy group at vanguard. Nearly 4 trillion under management. Thanks for coming back. Thanks for having me. Why be cautious now . Some of the commentary, i was thinking if that was the commentary at the fed meeting because we certainly saw some really con tension at the fed and i think its to be expected. Why were cautious, we went into the year cautious because of three things. Valuations that are certainly a little bit above historical averages, certainly the market is not cheap. We have a low rate environment which we believe is secular or long lasting. Not a cyclical phenomenon and thirdly a low level of volatility as well as most economists are having the same outlook. When we see the recipes, were not bearish on the markets but we remain cautious. I dont think investors should have outside risk. What about the idea joe is putting forth somewhat theres a lot of cash on the sidelines, people have a mandate, Money Managers have a mandate to get invested in the market, and theyre going to do just that and that could push stocks higher or at least keep them from falling to any great magnitude. Do you buy that . Well, i think there could be some credence. What i try telling investors is look through some of the short term. I know its not easy. Two things. One, investors should be executing on their plan, and we see that at vanguard. We see strong cash flows and a dedication to the capital markets, so thats one. Two is you want with respect to the fed and so forth, i think you want to look through and more focus on where is the Federal Reserve, where is the fed fund rate two or three years from now . Thats where were strong in thinking 1 may be the high water mark. Its not to say we dont have an opinion on september to december. You dont want to be heroic and aggressive. You want to be fully invested but i dont think you want to be aggressive in this environment. What does a vanguard what is the ideal vanguard portfolio look like . I wish i could answer ideal. As a reference benchmark you have a 60 equity, Global Equity mandate and 40 fixed income. You want to be globally diversified. Overseas investments the past year or two but thats one of the closest youll find that global diversification. I think the other weve seen a lot of interest at the margin in income proxies, dividend stocks and so forth. Thats where we have the most caution. It if theres a risk to the Federal Reserve tightening scenario the next several months, its not in my mind Interest Rate risk. Its the sectors of the market that received a lot of cash flow in avoiding that very risk itself. I think investors have to be eyes wide open. You say 60 global equities, where does the u. S. Fit within that allocation . Well, i mean, you start the global portfolio. You may back off and say 60 being the u. S. Dollar market. You want to have emerging market exposure. The u. S. Markets on a relative valuation perspective are at the high end, right, so our expected returns across all equity investments, to be clear, we went in for stocks weve had since 2006 but that said we are saying investors should be fully invested executinging on their plan but that means International Exposure despite some of the concerns overseas with their economies relative to the u. S. Joe, i appreciate the time. Thanks for coming to the vanguard camp. Joe davis over at vanguard. So lets talk more about what we should be doing in the market. Being fully invested and being cautious at the same time. So, look, youve had sovereign yields have come down again. Nicely negative. You have oats, french bonds trading very, very low, so that pushes you back into equities. So i think you can go into equities. You say lighten up on financials. That was the big that was perhaps the biggest trade to be watched pre and post fed. Ive topped it up into the trade because financials had not been tradinging up because of such low expectations. But there are still some values out there. I did add to my Health Care Holdings to biotech. Im not worried about the nylan hearings spilling over into biotech. To steves point about earnings, we are talking about earnings growing for the first time in a long time. Were coming up to an earnings season. Well get better clarity in terms of 17 now. Now im worried about draft margins, of course. If ivlow rates and an economy that i felt where we should tighten go 25, i dont think means anything to any asset class that i want to be a little longer equities. The and im not worried about a hike in december. Im worried about the election. Joe davis made me think about this, is the market trading with too much fear of the fed . You hear what he said. Yes. He said a 1 funds rate over the next two years. Means nothing. Im going to bet the average investor has in their brain a higher rate than that and thats something i think the average investor is huge. Im wondering if theres too much is the market trading with too much fear . Is the market trading with too much euphoria when the fed doesnt do anything. This move today of 100 points on the dow, is it due to anything other than the fed not making a move . I think, also, its due somewhat to whats happening in japan paradoxically because japan said we found another way for quantitative easing and you would have thought that they would have been worried when they said, hey, negative rates isnt working. Traditional qe is not working. Hey, games over. Theres something new on the table. The last point, too, we have to split. We have to talk about this next week. The Central Banks have finally figured out that the banks matter. What japan did yesterday is important because it recognizes the importance of banks in the monetary mechanism. Carney did this when he did his post brexit stuff. It will be a fine day in it the United States when the central bank here figures out banks matter. Which is one of the reasons i thought they were tightening. Theres a difference between thinking banks matter and thinking that bank stocks matter. Banks profit. When they figure out banks matter, they will profit. They figured out they cannot run a Central Bank Policy by undermininging the banks. Are they convincing Elizabeth Warren they matter . Forget about Elizabeth Warren. Its janet yellen. Theyre telling me we have to go. More Halftime Report coming up. Days after wells fargo ceo takes heat on the hill will you willingly give up your own bonuses ahead of the board discussion . Another sceo gets her turn. Do you think you were charging too much at 600 . Weve lowered that price by half. Why did you lower by half if you thought it was fair . Next up, the impact washington may have on mylan stock and the rest of the sector. And timber. Goldman sachs is in the woods. Its a call that could make you big money. More halftime with scott wapner coming up. Opportunities arent always obvious. Sometimes they just drop in. Cme group can help you navigate risks and capture opportunities. We enable you to reach Global Markets and drive forward with broader possibilities. Cme group how the world advances. Hiim here to tell homeowners that are sixtytwo and older about a great way to live a better retirement. Its called a reverse mortgage. Call right now to receive your free dvd and booklet with no obligation. It answers questions like. How a reverse mortgage works, how much you qualify for, the ways to receive your money. And more. Plus, when you call now, youll get this magnifier with led light absolutely free when you call the experts at one reverse mortgage today, youll learn the benefits of a governmentinsured reverse mortgage. It will eliminate your monthly mortgage payments and give you taxfree cash from the equity in your home and heres the best part. You still own your home. Take control of your retirement today after mylan takes our punches, theyll fly back to their mansions and private jets and laugh all the way it to the bank while our constituents suffer, file for bankruptcy, and watch their children get sicker or die. All right. Shares of mylan are up after a tough day for ceo Heather Bresch on capitol hill yesterday. Meg terrell was there. Shes with us now live. Reporter scott, it was many hours of questions and kind of grandstanding like that for my lan ceo Heather Bresch about the rising price of the epipen. She didnt apologize, though some lawmakers asked her to do. They he ask why she couldnt lower the price of the drug, asked what went into the price increase. Part of her defense was the investment theyve made in awareness. Listen to this. I would hope nobody would want to go back in a period of time to where the awareness was so shockingly low and the access was almost nonexistent for epipens. We have continued to balance that access. It does come at the a price and weve tried to balance that price and access while continuing to have access in more places. Reporter also increase their sales so it helped the company as well. A lo lot of questions about why not introduce the generic system. Listen to this exchange. Were supposed to feel good because youve taken a drug that youre overcharging six times what its worth and youre going to drop the price to 300. Sir, we were receiving 274 out of the do you think you were charging too much at 600 . Sir, we believe it was a fair price and weve lowered the price by half. Why did you lower it by half if you thought it was fair . If you thought it was fair, leave it where its at. Reporter the company say in of the profits it gets, its only 100 for a twopack out of the 600 branded price. A big question for mylan stock, how much of a hit are they going to take for increasing the rebate programs . How much of a profit here of all of mylan is due to the epipen and where is that going to go . All good for people like Pete Najarian who bought calls in which Heather Bresch a combination of a couple things was going on, scott. Its been hit had pretty hard. Objeviously its something jon s talking about with wells fargo. Blood in the streets, correct . Suddenly its been getting hit, hit, hit, and its near the lower end. An area people have been able to buy the stock in the past. There were different circumstances for that. Why is the volatility so low . This is part of the art form that i think is so interesting. You would expect that implied volatility, the expense of those options to be astronomical based on what were seeing, something we saw in the past with names like valiant, right . We didnt see that. As a matter of fact volatility was lower than it had been over the 30 day average. I thought it was a good opportunity. The story has a little the runway of the playout on this is different than in some other instances. Meg brings up the most important point, youre not going to know what the impact of the generic on the market is going to be on the overall business or to the name brand. Maybe buying it today is not safe but down the road you know what i mean. Youre not going to know the impact for a while. You can do the Financial Analysis and model the impact on price reduction and we had said earlier in the month, we had this conversation thats the area we felt as though the stock price absorbed on lowering the price. You look and say to yourself it washed out once, it rebounded, if im correct, from there. Now a second take. She almost had a little bit of the benefit of stump going the day before. It softened the blow. The hearing began on interests rate as well. A little bit more, okay, i still think Warren Buffett responds in some compaapacity. I think mylan, okay, you know what the Financial Impact is going to be on the bottom line. The Financial Impact will be huge. I looked at charts. I went back. On the generic. And what the projections would be when it first came out. They bought this drug and its ramped up to a multibillion dollar drug when it should have been a few hundred Million Dollars and theyre hiding the profitability. Its going to be crushing in terms of what happens. I have to go really but quickly that doesnt deter you. Im going for the shorter term play. If you knew that was the fact . Long term i would be concerned. Shorter term i like where the stock was and provided an opportunity. Thats fair. Amazon hitting an alltime High Crossing 800 for the very first time. Is it still a buy . Plus, price target hikes for apple and investors go shopping for towels all ahead in the blitz. Tell me, how do you like to learn . Songs are my favorite ooh elmo likes songs puzzles me love puzzles. Well. Puzzles are a great memorization too dinosaurs yess puppies ooh i love puppies so do, i. Actually. Pets can teach important lessons abou dancing elmo loves to dance. Okay then, lets dance. everybody cheers yeah baby its a performance machine. Engineering. With this degree of intelligence. Its a supercomputer. With this grade of protection. Its a fortress. And with this standard of luxury. Its an oasis. Introducing the completely redesigned eclass. Its everything you need it to be. And more. Lease the e300 for 549 a month at your local mercedesbenz dealer. Mercedesbenz. The best or nothing. Its scary when the lights go out. People get anxious and my office gets flooded with calls. So many things can go wrong. Its my worst nightmare. Every second that power is out, my citys at risk. Siemens digital grid manages and reroutes power, so service can be restored within seconds. Priority number one is keeping those lights on. It takes ingenuity to defeat the monsters that live the dark. Right now on cnbc. Com pro cnbcs premium service. The great interviews with Warren Buffett and his top five investment calls. Go to cnbc. Com pro. You dont have to be a pro subscriber to view. Cnbc. Com pro. A day after the fed did nothing, there is the dow up 120 points. S p positive by a half percent. Sue herera has the latest headlines. Hi, sue. Hi, scott. A second night of violent protests in charlotte, North Carolina. Police chief says that he plans to show the video of an officer shooting Keith Lamont Scott to scotts family but it will not be immediately repleased to the public. The video does not definitively show scott pointing a gun at anyone. Millions of puerto rican residents found themselves without electricity this morning after a power plant fire on wednesday sparked massive outages across the island nation. Investigators are trying to determine what caused that fire. The number of teens in middle and high school who smoke has significantly decreased. And cbs will not be launching its Curbside Pickup certificase planned today. So many people tried to use it during the soft launch that orders became backlogged and slowed down the system. Well keep you posted on that one. Lets jump down to washington, d. C. Reporter scott, nbc news has confirmed that d. C. Leaks, a hacking firm has released images of Michelle Obamas passport and also some travel details about Vice President biden, believed to have been obtained from the g mail account from a white house staffer. Its been posted online by d. C. Leaks that is believe d to be tied to russian intelligence. John, thanks so much. Coming up, betting on timber. Why Goldman Sachs says there could be double digit rally. Thats our call of the day and its next. Your daily retreat. Go ahead, spoil yourself. The es and es hybrid. This is the pursuit of perfection. Experience the thrill of the lexus is f sport. Because the ultimate expression of power, is control. This is the pursuit of perfection. Our partnership with habitat for humanity at pg e, we believe solar should be accessible to everyone. Allows us to provide the benefits of solar power to the types of customers who need it most. Pg e provided all of the homes here with solar panels. The solar savings can mean a lot, especially for lowincome families. With the savings that i am getting from the solar panels, its going to help me to have a Better Future for my children. To learn how you can save energy and money with solar, go to pge. Com solar. Together, were building a better california. We are back. Check out shares as theyre tanking right now. Meg terrell has the reasons why. Whats going on with this stock down nearly 19 . Axovant is down, working on an alzheimers treatment, the same way of working as the lead product. Saying in one phase three trial it did not hit the primary goal of showing efficacy. So youre saeg axovant down 19 . People are concerned they have a drug that works in a similar way. Meg, thanks. Goldman sachs yelling timber. Shares of weyerhaeser on an upgrade. They say it has the best timberland assets and offers an attractive yield. The stock bottomed. Weve seen a number of down grades on it. Its a tough call with the housing numbers because they make their money out of hardwood. The yield should support it unless weve seen massive increase in rates which i dont think were going to see. 8 billion acquisition of plum creek timber. That was a very good one. This is a nice way to play the housing recovery. Its also, as they say, this is the only way to get your hands on the timberland assets. It might be boring for some people. I dont disagree with that. Steven talks about the 4 yield. Its a name thats coming back once again, best in the space. You could look at bcc, boys cascade, that was around 1 million. That works as well. Its exposure to timber. Lets move to another call. We had a feisty debate on what our call should be, whether it should be weyerhaeuser or seaworld. And theyre talking about the risk reward. Thats why this is compelling. They cut their difficuvidend be theyre going to start having to put that money forward in 17 and 18. Its an interesting call. Isnt the price target still around 14 . Even though i like the boldness of the call, i would rather have seen the price target higher than where it is now. When you consider it a low its around 11. 14 is the target. Why isnt it 16 or 17 . I would think that these guys are a potential takeout candidate if they stay hovering around the single digit level. They got down to like pete said. Theres the rc world because is josh calling in . Thats the research. Give you a coloring book. On the research side, i have a yellow lab named timber. I went with him. To the trader blitz now. That index hitting an alltime high. Bed, bath and beyond. In the after hours last night, judge, ill post it on twitter, the stock cratered. Extremely heavy volume. Take a look at it today. This is a very nice turn around. Nice turnaround. You saw Carnival Cruise line. Theres no real news on american. I think its just following the forecast. Theyre bouncinging back the last few months. Reiterates the buy, they raise the price to 135 from 120. A lot of people hated apple. Rbc outperforms and goes to 125. You look at this company and the iphone 7, everybody said the problem is it looks like the 6. All of the different graphics that have changed, 40 faster, faster than the previous, theres a lot of reasons. Amazon, new alltime high following a price target hike, also getting an upgrade at ar argus. Nothing wrong with the fundamentals. To say you would take it, 490 back in february. The right way to play it from a it technical standpoint is if it breaks below 690. Then you want to pair back your position. My dog is an amazon bear. Looks like you. We have options activity, coming in the energy space, the brothers najarian are on the case. First more on whats coming up on power. At the top of the hour more coverage of your fed fueled thursday rally. Can you still make money in the mark market . Were going to find out and bring you ideas. Plus, we are live at the iconic conference. Tyler has very cool and Inspirational Company founders that he is going to be speaking with and billionaire Robert Johnson is here. He has investments and businesses all across america including a lot in charlotte. Well talk about business and whats going on in North Carolina with billionaire Robert Johnson. The Halftime Report is back after this. The Halftime Report with scott wapner is the place for market moving interviews. You dont call a company a sewer because the company made a mistake. Real money. All things being equal, we love increased volatility. Again, were fundamental guys. Real debates. I would advocate raising rates. I dont think it does much damage to the economy. The most profitable hour of the trading day. I love the show. I get to tweet about the show. Im on the show. This is the greatest moment of my life. The Halftime Report at noon eastern. Hey dad. Hey sweetie, how was your first week . Long. Itll get better. Im at the edward jones office, like sue suggested. Thanks for doing this, dad. So i thought it might be time to talk about a financial strategy. laughing you mean pay him back . Knowing your future is about more than just you. So lets Start Talking about your longterm goals. Multiplied by 13,000 financial advisors. Its a big deal. And its how edward jones makes sense of investing. What if 30,000 people download the new app . Were good. Okay. What if a Million People download the new app . Were good. Five million . Good. We scale on demand. Hybrid infrastructure, boom. Ok. What if 30 Million People download the app . Were not good. Were total heroes. Scale on demand with the Number One Company in cloud infrastructure. Hewlett packard enterprise. Yeah. Well, we gotta hand it thto fedex. Glasses. Theyve helped make our ecommerce so easy, and now were getting all kinds of new customers. I know. Can you believe were getting orders from canada, ireland. This ones going to new zealand. New zealand . Psst. Ah, false alarm. Hey you guys are gonna scare away the deer idiots. Providing Global Access for small business. Fedex. Two najarians in the house. Pete, whats on your radar . I know it follows the energy space, but you look at the way nat gas is trading and the way this it has been trading recent isly, nice move to the 950. They were buying the october 10 call now the january 10 calls. 10,000 last week or two weeks ago. Now theyre buying 12,000 of these. Really interesting paying close to 1 on these calls. Really interesting to see this, though. Week after a couple weeks ago to buy even more to go out further, somebody thinks this stock is way under valued and see some upside in front of it. I have an energy play, too, judge. Check out cog. Cabinet oil and gas. This is a big continental u. S. Gas play, and you look at the move that its made coming like this, what people are buying today is theyre buying january calls, january 27s and the 25s. These january 25s very aggressive buyers. Normal activity is about 1,600 calls per day. Today they bought 4,000 right away in january. Thats a pretty big bet that the stock goes considerably higher over the next three months. Make your way back here. Well stick with commodities, though. New Research Showing commodities could see their first year of net in flows since 2012. Where are we seeing the biggest flows and what does it mean for the space overall . Jackie deangelis with the futures. Thats right. Its been a banner year for commodities. Anthony, i want it to get your take. Youve been running the numbers. Where have we seen the most flow right now in terms of investments . Jackie, investors go where theres the potential for profit. When you look at crude oil prices theyre up 60 . Gold up 26 . How do we tell where theyre going . We look at open interest right now. If you look at crude oil, its up 2 million contracts on the year and gold, thats the big one. Open interest there has doubled on the year. Speaking of gold, a big move today off of the fed yesterday. Do we expect to see gold continue to move higher . Jackie, i think were in a range. Start the year in 2016 we were under 1,100. Were up nearly 30 , so i think you have an opportunity to play the range. 1,300 to 1,365. I think as we see Central Bank Policy turn into Central Bank Experimentation i think were going to have the opportunity to own gold for both reasons, market goes down, people are very scared of what the negative effects are. All right, gentlemen. Well see you on the online show. Jeff, bring the glasses. We have two important guests joining us, sven henrich from northman trader, and Stephen Parker from j. Pchlt mpmorgan p bank all online at 1 00 p. M. Scott . We were just talking about those glasses, jackie. Were glad hes going to bring them to your show. Perfect. Jackie deangelis. Next up, the iconic conference, the ceo of 2929 entertainment talking tech, charity, and the election. Todd wagner joins us next. Hey gary, what are you doing . Oh hey john, im connecting our brains so we can share our amazing trading knowledge. Thats a great idea, but why dont you just go to thinkorswims chat rooms where you can share strategies, ideas, even actual trades with market professionals and thousands of other traders . I know. Your brain told my brain before you told my face. Mmm, blueberry . Tap into the knowledge of other traders on thinkorswim. Only at td ameritrade. When hes elected president and kid rock becomes secretary of state, are you going to move to canada . Or one of the arctics . I will stay in the United States. And what would you try to id try to prevent him from destroying the United States. Well, this has been a lot of fun, mrs. Clinton. We should stay in touch. Whats the best way to reach you . Email . Youve got mail. Yep, that was Hillary Clinton on Zach Galifianakis show. Kid rock is secretary of state, that would be interesting. The email question is a good one, too. Yeah, it is. Can i reach out to you . Stay with politics a little bit. Todd wagner is the ceo of 2929 entertainment and the chairman of the Charity Network. He is live with us from boston today where hes a speaker at cnbc and inc. Magazines iconic conference. Todd, good to see you again. Wish you were here with us, but were so pleased youre part of iconic. Thank you. Great to talk to yall. You know, were coming off this clip of galifianakis and Hillary Clinton, so why dont we start with politics. In the intro we didnt say one of the reasons why a lot of people know you, and that is because you and mark cuban founded broadcast. Com together. It was sort of your big breakout moment. I know you guys still have some Business Ventures together. He has made no secret at all as to who he is supporting for the presidency and why. Im wondering what your view is, as what we said a serial entrepreneur and somebody who thinks about entrepreneurship in the way you do and the future. Yeah, i mean, i think it would be really hard at this point to add anything insightful about two people that have been so part of the headlines every single second for the last six months. But what i do think has not been talked about very much, scott, is what does this mean for the future of elections . In other words, does this now become the new normal . Are we now in a place where berating people nonstop is going to be how we conduct our elections . Its kind of like going to a baseball game and instead of watching the play on the field, all were doing is listening to the loud person in the stands behind us. That concerns me because, you know, in business negotiation is part of what we do. We compromise. We find middle ground. If weve gotten to a place with our elected officials, forget even the folks running for president , that no longer is it seen as a positive if you move from your line in the sand, im not sure thats a very good place. When people dont socialize with each other, when people dont even want to understand each others opinions, you know, watching as i have on cnn and other networks, even the dialogue between the commentators on air is as nasty and almost meanspirited as ive ever seen it. That is the part im really curious what that means. Do you think the future of entrepreneurship and doing some of the kinds of things you have done so successfully in your own career and what youre trying to help people at iconic do for themselves today is better in one hand versus the other, if you will, when it comes to this election . Well, you know, theres a south park skit, im not going to say the names they use for the two characters, but i think you kind of know what im getting at there, scott. Its hard to say one is better or worse in the sense of how that impacts it. I do think, and im with mark on this, im not going to be pulling the lever for donald trump. I mean, thats for sure. Yeah. Lets move and talk about tech. We were talking about netflix, which we know you like. And youve said that quite frankly on this program and facebook. Whats exciting to you today in the world of technology in the way that investors should be viewing some of the things that are happening . Well, i dont know. It depends on what industry youre in, but lets talk about netflix for a second. You know, theyve publicly announced theyre going to spend 6 billion on content this year. Thats really interesting and that scares a lot of people in hollywood because all of a sudden you have an extremely deep pocketed company who can buyout participations and other interests and basically effectively take, if you will, the upside from certain projects. But of course taking care of the downside risk. And its an inflexion point for the industry because you do have this company that wants global content and then you have an industry still tied better or worse to wanting theaterical releases. Were at a very interesting moment in time that we talked about ten years ago which is that windowing made no sense, sequential releasing of movies made no sense. We did that in 2006 with steven sotoburg and now we have a deep pocketed company in netflix that can actually do something about it. Let me shift our attention before you run to charity buzz. You have this Charity Network weve spoken about in the past. I know your heart is deeply entrenched there. We mentioned an auction you had last year with tim cook, coffee with tim cook, broke all sorts of records, sold for 610,000. You have an auction that starts october 25th to november 15th, what happens . Whos at stake in this particular auction . Or whats at stake for bidding . Its the Second Annual entrepreneurial auction. As weve briefly talked about before, weve discovered these entrepreneurs, these ceos are rock stars, so the ability for people to have a lunch with them or attend a meeting or have breakfast go for very high stakes. Weve got Harvey Winestein this year, Richard Branson among others. And we find it to be a very big movement. Because, again, it ties to our whole theme of moving from analog to digital, of getting these folks to reach a larger audience, getting to know your customer better, getting to reach millennials, doing all the things that 501c3s need and doing it in a very efficient way that an analog gala just cant do. Todd, thanks for being with us. Thanks for being at iconic. Come back and see us here at hq some time soon. Thank you. Great to see yall. Likewise. After the fed keeps rates steady rallying today, the dow, the s p, nasdaq all in positive territory. Final trades up next. Hahaha umhmmm hey nikki what are you doing here . You tell me, stephen. What . Im snapping. Youve been streaming my videos all morning. Now youre with this thing . No its not you its verizon they limit my data. I had to choose. Come on, girl. Lets get us a man with unlimited data. Why pay verizon more for data limits . Introducing tmobile one. One price. Unlimited data for everyone. Everyone thought i was crazy to open a hotel here. Everyone said its so hard to be a musician, but i cant imagine doing anything else. Now that the train makes it easier to get here, the neighborhood is really changing. Im always hopping on the train, running all over portland. I have to go wherever the work is. Trains with innovative Siemens Technology help keep cities moving, so neighborhoods and businesses can prosper. I can book 3 or 4 gigs on a good weekend. Im booked solid for weeks. It takes ingenuity to make it in the big city. Markets wrap up in about three hours. Lets get to final trades now. Pete, what are you thinking now . Give me something for next week. Alibaba, i think not only has it broken out but feels like it absolutely wants to explode to the upside. You buy it today . I own calls, yes. Okay. Doc. I like the uso, judge. We talked energy for unuseful activity, that one also huge 240,000 calls today. U. S. O. Joe, quick. Cirrus logic, thats the real apple trade. Sarepta, keeps giving. Good stuff. Thanks for watching. Power starts now. All right. Thanks everybody. Im brian sullivan. Thanks for joining us. While on this first day of fall, stocks are on the rise. Welcome to power lunch. Your money on the move again today, but theres always more opportunity somewhere. Were going to find it for you. Forget piece of italy, why San Francisco is the new unfortunate home to a very expensive leaning tower. And you think our politics are a little too punchy here in america . Wait until you see what is happening in one european country. The mustsee video coming your way as power lunch starts right now