The broader implications for china coming up. This is a company that already owns a landmark in new york city and youve got another chinese firm already been buying up theater chains around the country. They are making big moves in the u. S. The same company was already just going to buy a portfolio of assets from black rock. Its incredible how much deal making there is out of china. Well get to my interview with Jeffrey Ubben and what he thinks about the ceo of valeant and 21th century fox and netflix and the move in oil. Its all coming up in a cnbc exclusive. The office is stunning, gorgeous. Leave it at that the. Where some of the money went, i guess, how nice for them. Plus, ohio and florida of course the two key primaries coming up tomorrow. Well tell you whether any candidates can potentially beat donald trump in those states and how the results could affect businesses there. Lets start with this story out this morning in chin ease company on a shopping spree in the u. S. Tell us about this, susan. Maybe one or two things. Same company and not just one deal but were talking about two u. S. Hotel deals for chinas unbong group. 6. 5 billion reportedly for Strategic Hotels and resorts and this is on top of the close to 2 billion that they paid for the waldorf as tore ya and they have an insurer they pay 1. 6 billion for. Its diversified and anbang isnt the only Chinese Company investing in the u. S. This year we saw ge already sales of Appliance Division in a 5. 4 billion deal. Another includes chinas richest man, paying up 3 3. 5 billion fo Legendary Entertainment and remember the company that bought the theater chain amc and listed it back here in new york. Who can forget that pork deal in 2012 was the largest chinese acquisition in the u. S. Smithfields for 4. 7 billion, 2016, only three months in. Its already expected to be a record year for mergers and acquisitions involving chinese money in the United States. Were already sitting at 105 billion buying up companies all around the world and thats already in the first three months, base he canically the s amount we saw for the entire year. You know theres a lot of money going around. The question is what is driving this . The consensus is it looks like its a backdrop of uncertainty where the currency might be going and pushing Chinese Companies to get their money out of china, maybe look for higher returns elsewhere and buying up hard assets in the United States. Have you heard any pushback to this point in the United States . As you point out, you have all of this chinese money pouring in here anbang already bought the waldorf and want to go after starwood even though marriott had a deal for them. Other company that bought out landmark bought amc and now buying car mike. They are making big bold moves in Certain Industries but are you hearing about any u. S. Pushback at some point . Well, not at this case because we remembered unical, that was many, many years ago. Since then, i wouldnt say there has been a lot of resistance for Chinese Companies coming in, for instance the ge deal, signed with electrolux in sweden, and that was nixed and chinese buyer could come in. I think times have changed, bill. I guess so. Susan li, thank you. Lets get to the closing bell exchange. Ken more af from Money Matters and keith bliss from cuttone and company at post nine there they are and rick santelli, back at hq, all over the place here today. Keith bliss, the dow is up 39 points, i guess were sort of in wait and see mode right now. We are. What are we waiting forward to see . All of the data and fed meeting is coming this week. And i actually think the market is in a real Decision Point for 2016. Theres a lot of debate, im sure youre reporting on it last week, the sevenyear anniversary and the real debate, is this a cycle cal bull or secular bull. Whats your bet . Right now i can make a argument for both of them. I can see the reason for both sides. Looking out in 2016 we have more head winds than we have tailwinds if youre to press for a beat, i would say cyclical bull. How does the fed factor into this, they arent expected to be doing much . I think the market isnt expecting enough. When i look out at the world. We could be disappointed in growth or looking for more growth but the reality is weve had basically a 2 economy for a long time. Its consistent. Its underperforming but consistent. I dont think the belly of the plane is going to touch the ground. I think when you look at the metrics that the fed underscored themselves and unemployment rate, i dont put much stock in it but they do. When i look at the world conditions and they are a bit spongy and equity close to unchanged and 10year and see it still down 33 basis points on the year, i dont know how they can snug up more and normalize. Ken, you are holding to your belief that we are in recession now and that the dow is destined for 11,000 by the end of this year. Whats going on here . Well, im not a believer in this market right now. I remember back in 2008 when we told our clients to be out of the market, we saw the rally that came between february and may and saw an 11 , 12 rally over that two or threemonth period and everybody thought the problems are over and were headed for sunshine and boxes of chocolates but the reality was not the case. All i see right now, slowing Global Economy and trend line on growth for Corporate America is in a bad direction and the trend line for the growth of our economy right now, 1. 7 is the best estimate ive seen. So im not a believer at all in whats going on right now. I need to see a change in all of those things before i start becoming a believer. Keith bliss, meanwhile, where are markets taking a cue . Oil prices and coming back to china and what kind of rhetoric we might hear out of that legislative meeting . I think it is, you still have to look at oil prices, were putting a bit of i wouldnt say gloom but keeping markets in check today. Were still working off pretty good momentum we saw coming into the market from the february 11th lows and that will take time to get out of the way. As long as oil vas lates back and forth along the 40 handle well have sporadic markets in here. On a longer term basis, i would be a little suspect about getting very long in the market. Rick, we learned a little while ago that Vladimir Putin is ordering the withdrawal of troops out of syria. And im a little surprised we didnt see much of a market response. If memory serves, when those troops went in, there was a market response at that time, one of the few weve seen in the last few years to a political geopolitical situation. Why dont you think we saw a response today . Now, youre one up on me on terms of the detail of the news. Right off the top of my head, i would say theres a trust issue. Is this whats actually going on on the ground . A promise over time well know more. I think above and beyond that, i think the gee toshio politics has gotten to a point it was a 212 degrees but we werent boiling feverishly. As we turn the heat down if thats whats occurring, it makes sense, maybe some of these countries so energy dependent or starting to cry uncle, maybe theyll play a little more fairly in other areas but i think the common denominator is, they are nervous that growth isnt enough considering how much we spend and how much we take in. No matter where your economy is located. I mean this has been a flash point, this area, right . All of these the countries involved in trying to either topple assad or get rid of of the isis threat there or the rebels that are there, but now they are starting to talk about peace talks in geneva and even the head of the rebels group in syria said if russia is pulling out, that is a promising start to these peace talks. It would appear trust aside that peace may be breaking out in syria to some degree there, keith. Markets are taking it in stride. Theres a couple of things to point out. Weve become conditioned to hot geopolitical spots getting worked out and nothing happens at the end. But also bear in mind on vp vp, were only 100 points from the alltime high. I dont think anybody is willing to say thats something thats now cleared the decks weve been worried about for a couple of years. There are other things were now more worried about inside of this market. Aint that the truth. Indeed. Gentlemen, thank you all. Appreciate your thoughts on todays market action. We have breaking news on a scandal at Sequoia Capital right now. Josh . Bill, it is a court case that everyone in Silicon Valley is talking about. Michael goingen was a long time partner and fired after being hit with a sexual abuse lawsuit. It was a disturbing suit in which a woman claimed she was abused sexually and physically and for over 13 years, starved and beaten. As compensation mr. Goguen paid 30 million but only paid 10 million. The claim that he is filing a counterclaim that this woman was consumed by anger and obsession and jealousy after their mutually consensual affair ended and submits number of emails and texts to back up the claim. Part of the reason were talking about this is his long time affiliation with Sequoia Capital, one of the most storied firms, having backed apple, linkedin and yahoo among others. He invested in networking and semiconductors and on the board of inflow box. Well known here in Silicon Valley. Well keep following this case and bring you more headlines as they come. Back to you. Josh, thanks very much. Weve got 48 minutes left in the trading session here. Not a lot of volatility, 70point range for the dow top to bottom today as we await all of the Central Bank Meetings coming up. Allstar lineup coming up here on the closing bell. Kelly scoring a rare interview with valueact, Jeffrey Ubben, giving her the latest take on oil prices and Single Energy stock that he owns to make money in that beleaguered space. Well speak with sherman peshawar, when he thinks the Ride Sharing Service should go public and john zimer, the cofounder of lyft will talk about the timing of his own companys ipo and whether theres space in the transportation tech space coming up. You dont want to miss this out of San Francisco today on closing bell, youre watching cnbc, first in business worldwide. Need to hire fast . Go to ziprecruiter. Com and post your job to over one hundred of the webs leading job boards with a single click. Then simply select the best candidates from one easy to review list. And now you can use zip recruiter for free. Go to ziprecruiter. Com. Woman man yes. A newspaper . Woman its quaint. Man did you read about this latest cyber attack . Woman yeah, i read it on my watch. Man funny. Woman they took out the whole network. Man they had to hand out pens and paper. Woman yeah. Man could it happen to us . Woman no. Were okay. Man we are . Woman yeah, we brought in some new guys. Man what do they know that we dont . Woman that you cant run a country with pens and paper. Its not just security. Its defense. Bae systems. Welcome back, kind of a quiet session leading to what will be a volatile week tomorrow and wednesday. Bank of japan and bank of england and others. Lets check out the major averages since the socalled diamond bottom on february 11th. Jp morgan chase jamie dimon announces he purchased 500,000 shares of his own bank stock. Since that time, the dow and s p and nasdaq have all gained ground. The best gainer has been the nasdaq up 10. 9 in that time. Kelly evans. Well, the cover this week asks if Value Investing is back. Jeff ubben is known for his Value Investing style. Hence the name of the firm value act. In terms of activist community, he has that huge impact on Companies Like microsoft and valeant and 21st century fox. We sat down for rare interview at his offices, light of zipgss this week i started out by asking how Central Bank Action is impacting his role as a stock picker. Heres what he had to say. In the last year or two, the recurring revenue cash flow in good times and bad, Model Company has been increasingly priced away from us. The opportunity crossed is 1 and 2 and i can get a nice predictable cash flow stream at 10 , thats just too rich. Our current return is increasingly not available to us. At the High Quality Companies that we seek. So weve had really we have been selling a number of our companies where weve been there, kind of done all we could sold some ci, microsoft. Its been hard to redeploy that. The only high quality business we have found in the last 12 months is rolls royce, which where the stock is down by half. And this comes in a year you were down 2 last year and s p was up. And largely speaking it was because of the fang stocks. You had facebook and amazon, netflix google, the names the Value Community hates. Why does it seem does it make your job easier or harder when thats the case . I understand the returns may not look as good its hard for a value person. We started in 2000. This was what happened in 2001 when you had or 2000 when you had more market cap go to fewer and fewer names and sucking money out of value stocks. Then what happens is the valuation bubble bursts, right . And spreads out into is that whats happening now do you think . Maybe. Right, maybe . Certainly last cycle the valuation bubble was largely public. The Companies Went public much faster. And the money came out really fast. This time more and more companies are private. So i think the bubble will burst slower. Is there going to be a price at which some of the netflixes of the world do look attractive to you . Our goal is to take a trailing edge company like adob bee and microsoft at ten times earnings and make them go from old tech to new tech. Both of those cases adobe was considered down because jobs didnt put the flash on the iphone. We were like put html in the suite and youre fine. Microsoft was viewed as defending windows with office and they should have just let windows go, open up, so went from old tech to new tech. If you look at fox, its much more interesting to us to own fox at eight times and 12 and 13 times earnings and move from old media to new media. Im guessing that involves going to direct consumers because your letter talks about adobe and microsoft and says the key is to identify companies to get rid of the middleman that might be destroying the relation shep between the company and customer. It would see Media Companies are a perfect candidate to that, to really own that relationship. It would be surprising that the aggravator wins but if he develops his own great content which netflix maybe can do. They have enough cash. Do you watch house of cards. Ive seen it a little bit. Not crazy over it. How about rupert murdoch, do you have confidence that leadership transition to james we think james is terrific. He is the young antiestablishment sort of ceo that can be part of our change. Is the Halliburton Baker hughes deal going to happen . If the deal does happen were going to do really well. Well get a 25 spread. If the deal doesnt happen, i think people may have lost track of what happens to bakers Balance Sheet when the cash comes in from the break upfee. And we think that the products in the technology are best in class. So we kind of feel were sitting close to asset value, which gives us a pristine Balance Sheet with levers at the bottom. We think its were actually pretty excited about the other side of oil is interesting, people say its going to maybe go to 55 and hang out there. No way. With the disinvestment weve seen, it will go it will between now and 2019 it could the marginal barrel could easily push it to 100 again. Really . Thats that much disinvestment, right . Everybody has been fire or let go. The ability to bring these barrels on quickly will be very difficult. What would you say to people who have this view of the market and add barrels in a second to meet the higher price . Look at the loss of people. Whos going to be there to drill it and to you look at the loss of people and look at the companies that have basically leaving the industry and the when you dont run a pressure piece of equipment, it gets can balancized and goes away. Theres a rampup that will create a tremendous sweet spot, certainly north america for halliburton. And globally because very ka that are tick to get the excess supply out of the system. Who else then . Because the valuations of so Many Companies are trading at levels you must be walking through every day . We like to sell bulls tore the warriors. We dont want to be the warrior and kill ourselves. Were more Service Oriented and the inward Balance Sheet focus, baker hughes is the only place were interested in playing right now. So there you have it, thats the first part of my interview this morning. I should mention here, when people are talking about whether stock picking still works and Value Investing still works. Heres a company they have a 15. 5 annualized rate of return were talking about through a period that encompasses the Great Recession and then some. He only holds a portfolio of a dozen stocks at a time. I guess there is still a resounding answer out there in the Investment Community in terms of how to make that work. Value investors are a special breed, they would make great chess players. They do all of the homework but they are trying to think two and three moves down the road within the game and they place their bet but then they have to be very patient to wa