Transcripts For FBC Making Money With Charles Payne 20240714

Inequality under attack. My story about the dream of making it on your own is so important. We should be celebrating it, not taxing it into oblivion. Kneel talked about it, we may changes to our show, the network how it looks, one thing has not changed the mission to help you achieve your american dream. Well start right now on making money. Charles weve been drifting higher and higher as the session has gone on on the highs of the day. After the Trump Administration latest trial balloon shot done by everyone. The white house could be considering banning u. S. Investments in china. They talked about delisting chinese stocks from u. S. Markets. I want to take a deeper look and bring in david dietze, point view wealth management. Also erin gibbs the cio at i get it, we have a lot of funky chinese names, ironic they dont go you there the same scrutiny as american names, the idea of delisting all of them i thought it was nuts. I know it was a trial balloon but i thought it was nuts. Investor vote with their money and investments. Why we would want the government to come in to tell us how to invest to me charles the administration, david, listen the idea is to protect americans, right . These are faulty, unproven, a lot of these companies are faulty and unproven, particularly some of the new ipos, which by the way have been doing better than our ipos to. A point theyre right there, is not the kind of scrutiny we give even American Companies. When you talk about larger names, should an american have access to alibaba for instance . I think thats right, absolutely. Alibaba is the amazon of china. The baidus, google of china. There is a lot of lot of Large Companies americans should be able to invest their money in. I think at the end of the day i think the administration decided that the chaos could ensue in the stock market was not worth the improvement in a negotiating posture. Finally there may be more legal questions what can be done. When youre adjusting tariffs, changing immigration, that is inherently the power of the executive branch. Delisting stocks may be another animal. Charles assistant of Public Affairs Monica Crowley the administration is not contemplating shares from Chinese Companies in the United States is not being considered at this time. The dow is up 150 points. Were not far off the alltime highs. Both said september was a pretty good month. It is unusual september was a good month. It is often a down month when it comes back from the summer. When we started the month with all the trade war fierce it was not expected. In the low yield environment, with the u. S. Strongest economy in the world, i think it makes sense that the s p 500 and u. S. Markets are outperforming yeartodate. Charles weve been meandering in shadows of alltime highs. I was saying what will be the catalyst. David, youre a value guy. Obviously there is lot of potential value opportunities out there. Absolutely. Look at different capitalization opportunities. We talk about the s p close to alltime highs, if you look at s p midcap or small cap theyre a good 10 to 12 off alltime highs. Theyre less exposed to international trade, many cases the dividends are better, i see a lot of opportunity, potential in that area. Charles october 10th, the big meeting, it is my hunch, it is only a hunch but my hunch i think the meeting will go well enough so the administration will pause on new tariffs f that indeed happens what will that do to the stock market . It will push it higher no question. Were trading at somewhat higher valuations any positive news on the trade war pushes markets higher. If you combine that with positive Earnings Reports, that will be the middle of earnings season as well, if you start getting good news from the financials that will push the market higher. Charles what do you like right now, david . Were looking at industrials, cyclical stocks we feel are weighed down by the chinese concerns. I share erins optimism, that we could hear better news october 10th. Carnival cruise lines which we own, 10 times earnings, 4 1 2 dividend it controls 60 of the market, even if things continue to be turbulent on the high seas, small competitors go away. Charles i find it particularly in an environment in america where younger People Living in the moment, doing ad ven rouse things, that looks like a cheap stock as well. You like microsoft and technology. What else . Some. Semis, they have been beaten up over the trade war concerns. Some of them have had negative or downward revisions. He think if they charles on friday, got hammered. I thought was overdone . That is turnaround story. Charles the chinese news didnt help it on friday. Ultimately they have had positive Earnings Reports. Theyre another one if they beat another stock that will keep popping. The moral of the story the market keeping doing better than people think it will. We appreciate it. Thanks for helping us out on the relaunch day. While markets continue to react the relations between United States and china are pointing to a more positive direction. The negotiations resume on october 10th. What can we expect from this meeting that looks to be a makeorbreak moment . We have former Commerce Department Deputy Chris Garcia is with us. Youre a hardliner, my man but a lot of folks on wall street saying please, please, let this be a good meeting, continue the olive branches, does the Administration Listen to that, knowing were turning the corner into 2020 . If the stock market falters it will become an election issue . Charles. It is really basically about calling balls, balls and strikes strikes. Force the tech transfer, i. P. Theft, narrowing the 500 billiondollar budget deficit i say is really the sticking point. We want to make sure were playing fairly, freely, openly. We want to engage china trade in all sorts. Yes the president did in fact extend an olive branch. He decided to postpone tariffs that would go to 30 on 250 billion worth of chinese goods from tomorrow. It will start to take effect on the 15th. China is agreeing to buy more American Farm foods and pork with no tariffs. Of course there will be no tariffs. Rising food costs on Mainland China would cause an uproar. Steve mnuchin said the president wants a really good deal. Well see what comes out of the october 10th meetings that will be a good indicator whether were close or making significant progress. Charles good a subjective. A lot of Media Outlets dont like President Trump already written the story on the trade deal. They will say it is not much different than we had before. It was a useless trade war t will sound very much like usmca was nafta 2. 0 and unnecessary fight. The president is going to wait for the media to judge him on this we both know he is not getting any real accolades no matter what the deal says. My point how do we know what a good deal is, and how hard do we hold out for it if an jeopardize reelection. I think the president is not concerned about the reelection. With all the Political Forces in action right now the president is going to hold the line. He knows, this is something he has harped on for the last 30 years even before he was president , the United States needs to have free, fair, reciprocal trade deals with all of our trading partners. A couple things we can watch tore, whether or not the vice premier comes with the special envoy title. If he does shows were much closer to an agreement. Second thing, watch for huawei. What happens to the blacklisting. Thirdly, see what happens with the possible delisting or forcing Chinese Companies to be subject to audit and subject to the same regulations American Companies are sub yessing to. Charles i got 30 seconds that was sort of a sign to beijing this administration has other tools other than tariffs but i dont know they would have to break into those tools. Chris, i think were going to see something food on october 10th. I think the new tariffs will be delayed once again. Do you have thoughts on that . We have 10 seconds. Lets hope so. President is holding a rally in minnesota on that evening, october 10th. Hopefully he was good news to report and people of minnesota will know why they voted for President Trump. Charles chris, youre the best. You notice we have new changes. Fox business has a new look. One thing remains the same our celebration of success. I will go after the break my admiration for people that got out of their way, went out of their way to help others after they achieved success. One of those successful people, will chair his success with us, from florida, thomas pedifree. My man. Great to see you. Hmm. Exactly. Liberty mutual customizes your car insurance, so you only pay for what you need. Nice. But, uh. Whats up with your. Partner . Not again. Limu thats your reflection. Only pay for what you need. Liberty, liberty, liberty, Liberty Charles a little bit my store. What we arrived in harlem in 1975, me and my mother an younger brother were penniless. Never thought about money a single moment to my life, at that point i was thrust into the role helping my family because i was oldest. I began studying the wall street journal i also bee grand studying successful people n my new neighborhood there was tremendous admiration for selfmade millionaires. Especially those that started with nothing and gave money away to the needy. Rockefeller, percy sutton. Even gangsters like Bumpy Johnson and nicky barnes were heroes in harlem giving away tons of food and money for people. Helping other was as combination of admiration and inspiration that will motivate me until the day i die. Which brings me to early july this year i went back to visit my ol block. There was no excitement. No energy. It was sterile. The gentrification of the block, no grilling in front. Building, no card playing in the foyer and activities that generate too much noise. I asked my friends what is up with the summer block party. I learned there woo not be one. I thought about it for days. I thought we should have a block party for the kids at our house. She agreed. She worked around the clock to make it happen. We had a bouncey house, d. J. Ben jerrys ice cream stand and all the games. Before we wrapped up the party i asked all of them around. I said i would give each of them their own tablet. As i handed them out, some smiles became tears, tears of joy, a lot of hugs. I wanted those children to know that there are people out there that they have never met that love them and want them to have great lives. A week later, package arrived at our house when we opened it was a appreciation award from the parents of the children at the party. They thanked me and my wife. I got to tell you something. This piece means a million times more than the money we spent on the party. Maybe we touched those children in ways that go beyond ad mir operation but also to inspire them, believe there are no limits to their dreams. Those dreams can be anything that they want to be. Here to discuss his own american success, Interactive Brokers founder ceo, thomas pedifreee thomas, i love your story. You were born in budapest in a hospital basement while a russian air raid going on. You were an example of why people come to this country. Thats right. So when i got here i was 21 years old and success was incredibly important to me. I put my head down, i worked as hard as i could because i knew that unlike in socialist hungary, in america i had the right to earn money, to keep it, to accumulate wealth and to start a business. Maybe it will fail. And it did almost fail but i could always restart and fail again and fail again and restart. I could do it up until it really worked. It did, eventually it worked. So it is extremely important, especially in these times, technological upheaval hide as great deal of opportunities for younger entrepreneurs and it is really important that we reinvigorate the entrepeneural spirit in the country and we all go out there to start businesses, work harder because it all benefit from it. From the long run, americas wealth comes from people thriving for success every day. Charles yes, im calling it a juggernaut, the Elizabeth Warren campaign which is socialism in america saying essentially weve reached a point where thomas pedfrys have too much money. Bernie sanders wants to take it all away from you, im sure she does as well but calls herself a capitalist. Are you shocked how much this is resonating in america, the land of milk and honey. The issue socialists do not accept the fact that people are motivated by material rewards and they are by nature competitive. So any economic, any workable Economic System has to be based on Free Exchange of goods and services and we have to harness peoples ambitions and desires in order to generate better quality and more foods and Services Goods and services. That is what capitalism is about. Charles i got that, i got that part but im saying a lot of people in america, particularly younger adults dont necessarily get that, or they just dont believe it is true. Sounds great as it trips off your tongue. It hasnt impacted me or my family yet. We have 91,000 people in this country with a lot of wealth, right . The statistics are staggering how much wealth they control, how much power they have, people are revolting against that. What would you tell them . You try it too. [laughter]. That is what it is about in this country. Please try. Some of you will succeed. It is important i. Charles i love it. Talk about your new trading program. It is rbik light. For those of you who dont know, interactive voters started with my floor operation on the American Stock Exchange 42 years ago. And at that time, slowly the exchanges were going electronic and those people who i worked with on the floor had to have an electronic way of continuing to make a living and as a Computer Programmer we engineered four of them. So as a result our customers are extremely sophisticated in financial matters. Now, we realized that more and more people who are young people, now who are entering into the market, would like to have zero commission option. And that is what were going to give them. Were give them an option they pay zero commission, zero minimums, zero fees. Everything is nothing. It is zilch. Thats it. Charles youve been revolutionary. Youve been rewarded for it, billionaire, richest man in florida. You keep in going. You dont rest on your laurels. That is another reason we appreciate you. Today it is my 75. My last day as chief executive of Interactive Brokers. But i will be chairman. Charles happy birthday. It has been a great run. We always appreciate you sharing your story. Thank you very much. Forever 21 is the latest retail casualty filing for bankruptcy as brickandmortar casualties keep piping up. Should we purchase the survivors . Triple g will share his story as he gears up for his next site. H fight. November 6th. 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. So much more than i could have imagined. My grandfather was born in a shack in pennsylvania, his father was a miner, they were immigrants from italy and somewhere along the way that man changed his name and transformed himself into a successful midcentury american man. He had a whole life that i didnt know anything about. He was just my beloved grandpa. Bring your Family History to life like never before. Get started for free at ancestry. Com bring your Family History to life like never before. In the last year, of cybercrime every second. When a criminal has your personal information, they can do all sorts of things in your name. Criminals can use ransomware, spyware, or malware to gain access to information like your name, your birthday, and even your Social Security number. 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Layoffs are not especially out of line with post recessionary level. People have luxury for quitting those jobs looking for better paying jobs. We have here is what caught my eye. Youre not a individual stock guy but our viers are looking for opportunity. Brickandmortar were crushed gamestop up 14 , Michael Stores up 12 . My daughter goes there almost every weekend. This morning, upgrade, bed, bath beyond was upgraded. Urban outfitters were upgraded by large firms. Could there be opportunity in brickandmortar . I totally agree. To say nothing of target, costco, walmart. Charles targets are up there. What happens a investor sees target as 100 bucks, near alltime high, walmart near alltime high. I want to go a little