Morning. And ready for takeoff . Were asking you, loyal viewer, if the time is right to get back in the air it is thursday, october 15th, and this is worldwide exchangeexchange exchangexchange good morning, good afternoon or good evening, everybody and welcome from wherever in the world that you may be watching im Brian Sullivan it could be a rough day for the markets. Dow off nearly 300 now, lack of stimulus from d. C. And concern about new lockdowns in europe will probably get most of the headlines, but weve nine th known that for a while and this could also be hitting sentiment right now. The Financial Times reporting that france and netherlands seem to be on board with a possible plan to go after big u. S. Tech companies, a leaked paper suggesting that an effort to break up some of the big names is, quote, on the table. Look at those losses in europe, apple down 3 , facebook off 2 and amazon down 2. 5 and here the dow shedding another 160 plus points and on track to snap a two week
Complacent well debate that and your next money moves. Liz young is with us, and a tipper mcgee, Institutional Investment services group, and she is a new cnbc contributor. We will have the hazing ceremony, tiffany, in just a bit. Meanwhile, a check on the marks. Nasdaq against hitting new intraday highs, but the nasdaq doing a bit of a uturn, now down 28 points or about 0. 25 of this hour as some growth names like tesla and apple drop. Well talk about them in a little more detail steve weiss, id like to begin with you i read a very persuasive note that talked about reasons to stay invested. If you bet against this market, you are bankly shorting two things you are shorting the fed and you are shorting science, i. E. The hope that a vaccine will come along. You want to short those two . I dont think so steve . So, my observation that i sent to you this morning were that the markets momentum market, and if you disregard fundamentals, which the market is doing in large part, or at least
Investment, what do youd see as the future valuation for this business within mgm and if they dont get there do you plan to sell your stake . I tell you what on the first question i would not put a number on it but i would say with absolute certainty it is worth more than negative the Online Business is getting a negative in there. Im certain it is worth more than that and that is something that we looked at and considered when we were making this investment and you said your second question i have no idea. Were me in this for the long term and that means that well there r is all kinds of opportunities that may arise from here. And well consider everything. Finally are you looking at anything similar to this given all of the cash that you have . Were always looking at everything that is the fun thing about iac. We have the ability, the flexibility, and the time horizon to do anything that we want to do and were always active in the marketplace. Thank you, we appreciate you taking some
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