3907. Sarnd and poorz clos s p 500 closed down 8. 5, at 1746. No record for the s p today. Stocks seeing red on the heels of disappointing earnings. Bob pisani, a bit of a pullback, was it needed . Weve been overbought today. Were in the heart of earning season, today and tomorrow, biggest days of the earning season. Five trends emerging im seeing in the last couple of days. Very limited visibility from Big Semiconductor names. Thats a problem for the market today. Netflixes, momentums, et cetera, looking toppy. Oil and Energy Stocks with low demand. Rates on the tenyear have been moving down and builders and utilities have gained on lower rates. The dollar weakness is helping multinationals. Well be hearing from them shortly. Take a look at some Big Semiconductor names, those in the tech areas. They were weak on some concerns from juniper, cree, micro, giving guidance. Tech names were weak, disk drives, aerospace had a good day. Boeing had excellent numbers. Guidance was good. Northrop grumman raised full year guidance. Momentum stocks im talking about, debate on whether were get rogue tags. Tesla, yelp, renren, chinese names. Heavy volume, taking money off the table. Take a look at how the stocks are looked in the last few days, momentum names on the weak side. Yelp, tesla, facebook, linkedin, priceline, all to the downside. At t earnings are out. Lets get to julia and get those numbers and see what they say about the period for at t. Over to you. At ts adjusted earnings came in at 66 cents per share. Thats a penny better than expected. Wall street had been looking for 65 cents per share. Thats up from 63 cent per share in the year ago period. Revenue grew pretty much in line with expectations. Came in at 32. 16 billion. Wall street analysts had been expecting 31. 87 billion, so a tiny hair short of expectations. And it is up from 31. 459 billion a year ago. Improvement, slightly better than expected eps. Over to you, maria. Thank you so much. As you can see, the stock pretty stable right there after these numbers. Well look for any movement in at t shares tonight. S p 500 meanwhile snapped a fiveday winning streak. Where this will market go tomorrow . Joining me is donald cox, ron from rbc, nathan, and our own mandy drury. M report tell you anything about nathan, did the caterpillar where we are in the economy and how does that dictate how you allocate capital . It didnt tell me anything that i dont think we already know, which is things are kind of slow. Now were probably not going to see tapering until well into 2014. And so, i think it just the market had a chance to have a nut and honey kind of day, a cereal market. No real big news today. You know, at t is a rather meaningless report to come in just now because theyre one of the worst performers in the dow, so its nice they actually beat by a penny. I think they have a data problem, like the fed does. They just look at the data. Theyre not getting enough data per customer. Where im allocating, i still like europe. I think thats where its going to be. Im paying attention to bonds because Interest Rates have been coming down. Thats kind of the story there. I dont think its getting enough press right now. Lets not forget what happened four months ago to bonds because its going to happen again some time next year. Thats a good point, actually. Rates did move lower again today. Donald, i know the fed is in place. We got tapering off the table for 2013. Maybe tapering off the table until june of 2014. But is there a bigger catalyst thats going to drive these markets. Can we just go up and up and aw away until the tapering begins or Something Else that gets in the way of the idea of buying equities . Well, the important question, maria, is where you buy the equities. The growth thats exceeding expectations is in china, japan and now europe. So, the leadership is basically moving across the atlantic and pacific. And the evidence of that is the powerful outperformance of the base metal stocks, commodity groups in the last 2 1 2 months. This caught people by surprise. But that means that of the big gdp components of the world, the United States has had to carry the burden since the crash. And now that burden is going to be lifted by better strength abroad, as shown by these areas, which are big consumers of base metals. Yeah. The base metals is such an important area to look at. You think that is indicative of whats going on in the global story . Well, if look, a year ago, what we had was a situation where of the biggest economies in the world, japan, was still dragging us down after 22 years. And europe was on the edge of breakdown. And now those two zones have moved into positive territory, japan with a rush and europe still surprising on the upside. So, what weve got there this is really good for the u. S. Because our trade position has been improving anyway. What we needed, frankly, was more growth abroad for the next kick up in the economy here. We are now getting it. Thats going to be the part of the u. S. Economy thats going to perform best. I guess, mandy, what im getting at is this whole dysfunction story. And how that has taken oomph out of things. Does that basically tell an investor, look, i dont know whats going on. I dont have clarity. Im going to sit on the sideline, im not going to stick my neck out even though the fed keeps pumping the pedal. I feel a lot of people are getting so sick of d. C. And fear its a part of life that maybe theyll try to put those noises coming out of washington to the side and just sort of plow ahead, whether it be with Business Plans or whether it be with their investment plans. You know, in terms of strategy, putting d. C. On the sidelines is something, you know, that maybe your guests can answer to. I would also like to speak to something that bob pisani told you a moment ago. Im hearing about the fear creeping into the market as to whats happening with some of these big momentum plays like netfl netflix, how it really rolled over yesterday. It brings back some of these memories of the year 2000. We really need to watch in the following days whether or not this is a sustainable bounceback in these names like netflix or whether or not they continue to the downside. If they continue to the downside, im hearing that that has the ability potentially to negatively affect the broader market. Maybe thats something your guests here on the panel can talk to. But i think this is an important point that bob pisani raised with you. Well, lets talk quantitative strategy, ron. I mean, you know, i guess one difference today versus the 90s is that you actually do have the e in place. You didnt have real earnings in a number of these dotcoms. No surprise many of them blew up. Is it different today . How would you say the quantitative strategy should look for your investor out there knowing what we should know in terms of the fundamental backdrop . Yeah. I think its very different today than in 2000. I mean, technology, for instance, was a third of the market. Its much less than that this time around. And its profits are at 20 . In 2000 it was only around 10 . So, theyre a lot more profitable. Doing a lot more buy backs. Its up 100 from the last quarter alone. Even though theyre underperforming, other sectors year to date, the level of buybacks is helping to put a floor under some of these stocks. Youre not expecting a big pull back like Mark Spitznagel who says hes expecting a 40 selloff . Not at all. The last time we had major pullbacks there were structural changes in a particular sector. Technology in 2000, financials, basically in 07, 08. We dont see that in our models. For the most part, earning are slowing, but there arent those structural breakdowns by a big, major sector that would cause the market to see the kind of, you know, decline that your earlier guest was talking about. Maria, when we see earnings beats over here, have you to remember, weve seen the largest downward revision in estimated earnings since in over ten years. So, that really has to say to you, were doing great as long as we keep lowering the limbo bar down to the floor and then jump over. Its an important point. The expectations are, in fact, coming down. Thank you, everybody. Appreciate it. Well see you soon. Up next, billionaire impra practice newer Dallas Mavericks owner mark cuban in the house. Hes eager to talk about the big win against s. E. C. On civil Insider Trading chargers. No wallflower himself, well see what he thinks about investor activism, carl icahn. And then another flaw in obama care exchanges. Well have details and discuss if obama care can recover from its continuing pr disasters. Our special power pitch tournament. We crown a champ. Marcus is picking the winner in todays startup race. Youre watching the closing bell on cnbc. Here at fidelity, we give you the most Free Research reports, customizable charts, powerful screening tools, and guaranteed 1second trades. And at the center of it all is a surprisingly low price just 7. 95. In fact, fidelity gives you lower trade commissions than schwab, td ameritrade, and etrade. Im monica santiago of fidelity investments, and low fees and commissions are another reason serious investors are choosing fidelity. Now get 200 free trades when you open an account. Stocks losing ground on caterpillar earnings. Worries about financial conditions in china and europe. Lets check in with dominic chu and see whats movering and shaking. We again with akamai, moving higher in the after hours after reporting better than expected Quarterly Earnings and sales. Turning now to tesla, falling as bank of America Merrill lynch said the stock was overvalued. Underperform rating, equivalent of a sell, and a 45 price target on those shares. Amazon losing ground. Rbc capital and Piper Jaffray said they expect the can company to miss earnings estimate when it reports after the closing bell tomorrow. N Norfolk Southern posted betttha expected Third Quarter earnings on rising shipments. Apple moving higher. Jeffreys boosted estimates after raising iphone forecasts and estimates. It maintained a buy rating on the stock and a 600 price target. Back over to you. Thank you so much. Dallas mavericks owner mark cuban getting a big win last night. Not on the Basketball Court but in the court of law. The billionaire investor was acquitted of Insider Trading after securities and Exchange Commission accused cuban of using a private tip to avoid big losses on his 2004 sale of internet stocks. Mark cuban joins me now. Good to see you, mark. Good to be seen. Thanks for joining us. You said this case was personal, i was reading what you said. Why . Why was it personal . It took seven years out of my life. When the s. E. C. Called me, i thought, okay, im going to support them and help them like i had in 2004. And it just turned into a disaster. And you know, when the governments chasing you, its not something you just ignore and you think about it. It consumes you all the time. What made it personal is the way they handled it in court. When it was over, it was like, you know what, literally, they were basically apologizing to me. Multiple lawyers came up and said, mark, this is just business. Its not personal. Business . Yeah. Another one said, im just here to litigate. This is your reputation. Its your life. Then had that much control. Thats one of the things that got me upset. You could have settled. Oh, yeah. I could have. Why didnt you settle . I did nothing wrong. I did nothing wrong. You wouldnt even believe. Literally all the evidence they had they used against me, they got from me. In 2004, two days after i sold my stock, the s. E. C. Contacted me because they were investigating momma. Com this company for being crooked, run being a stock manipulator. All the emails in court i provided to them. I did an interview with them just to help them, no lawyer, no nothing. They took copious notes, two of them, which would have vindicated me right there and then, but they lost them. For eight years. They lost them. They lost them, right, for eight years. They finally showed up again in july of 2012 after all the indictments, the court hearings, the appeals, the dismissals, summary judgments, all of a sudden they showed up and said exactly what i said they said. And i love the idea they come up to you afterwards and say, listen, mark, im really sorry. This is just business. Were you unfairly targeted, do you think, by government because youre a name, because youre a billionaire . They just figured, this is a good message to send to the rest of the world . I dont want to generalize because there was and you dont want to personalize. No, i do want to personalize, because thats missing. When you say its the s. E. C. And the government, then everybody hides behind that. Good for you. We all know theyre dysfunctional in one way or the other. But when Linda Thompson, head of s. E. C. Enforcement in 2004, shes passing around getting emails and passing around emails with me holding the promotional picture of me Holding Money from a tv show i did, and shes saying, well, this confirms exactly what i was thinking. It was you were marketing a show. Right. I was marketing a show. She used that as confirmation they should come after me. And so i think in 2008 when they filed charges, yeah, i was this was a month before madoff. I would have been the big name. But they had nothing then. So then as time went on, they just went on and found new jobs and my lawyers said, take a look at the case, it was public information, theres nothing there, theyre liars, its all this stuff. And they just ignored it. You know what, this is really important. This speaks to the overall structure of the s. E. C. And the way things are set up. Because you have the time and money to take this to the end. You know you did nothing wrong. Youre going to fight, youre going to defend your name. If it cost you your fortune. Most people cant do that. No. My blessed. Im the first to admit it. They have significant problems. One problem is they think like lawyers. Right . Their job is to make sure the markets are fair. The other job is to build Investor Confidence in the market. They failed missably at both because theyre not trying to solve either problem. They dont even know what business wall street is in. Were supposed to be in the business of raising capital to help companies grow. The market for ipos has fallen off the cliff. Were trying to make it fair but the only way to make it fair is by using lawyer think and filing case after case after case and they show you how many cases they brought and won. You correlate that to market confidence, their cases go up, market confidence goes down. Thats not the right metric success. Right. They should say here are Different Things we need to do to improve market confidence and connect with individuals. Ill give you a perfect example. Right now theyre trying to determine the best way to deal with the jobs act. The jobs act is going to be about crowd funding, being able for Smaller Companies to raise up to 1 million a year and individuals to be able to contribute 5,000 individually or up to 100,000 per company. When you go to the s. E. C. Website to look for a place to ask a question individual about anything pertaining to vinnesting, you cant find it. Theres more information on the irs. Gov site. Theres no place to get information on the s. E. C. Site. Whos protecting the investors they say they protect . Someones looking to get a better job. Necessity say, you violated the law. You invested 101,000, and thats a violation. Were coming after you. You didnt even know what you did wrong until they come after you. So because of that, people dont think the s. E. C. Plays fair. They dont take seriously the actions they take. They take it as a business expense because these guys dont know what theyre doing. Look, to be you cant they could be constructive. They could do it right. Wheres the accountability . You spent the last eight years defending your name, spending money defending your name. There could be out there perceptions of you that have changed. Wheres the accountability . It has to be at the individual level. Thats why when after my trial i went on the courthouse steps and started talking. Ip wasnt just saying the s. E. C. , because there are good employees at the s. E. C. Good people at the s. E. C. With their hearts and minds in the right place but individual people involved have to have a level of accountability to the public. The lawyer who was interrogating me on the witness stand, during her closing arguments literally mislabeled documents to mislead the jury. Mislabeled them. An acknowledgment letter she labeled as investor agreement letter. She misled the jury . She lied. And so i didnt want to just say the s. E. C. In general. I wanted her to know that, and hopefully other people will follow the lead, you name these people individually so they have to be accountable outside the courtroom. Will she be accountable for lying . She is now. Youre out there. Thats why i have no problem naming Linda Thompson for not doing her job. Janet, i give her credit for doing her job, but if that was acceptable to her superiors, thats wrong. Thats why i feel its necessary to call out jan falina. Chris schultz went on a die tribe talking to an Expert Witness. He had no clue what he was talking about. He was talking about blue sheets the Expert Witness was talking about blue sheets, he didnt know what blue sheets were. It was mind boggling. Do you think the people working at the s. E. C. Are not equipped to handle the job although hand, they dont understand the complexities of the market . I think it goes both ways. There are so many lawyers our Expert Witness was talking about the lawyerization of the s. E. C. Dr. Siri, our expert. He was head of trading the markets for three years. He knew them. Thats what he talked about. That its a lawyerdriven organization. They think like prosecutors. They act like lawyers. And that has to change. As long as its lawyerdriven, theyll never have confidence in the markets. Youll never have Consumer Confidence increase in the market. Has this has to change. Has this changed your investing . No. I didnt do anything wrong in the first place. It doesnt matter. Theyre on you. So youre still allocating capital. What do you think about the social media space today . Twitter is going public, apple is once again on fire. Whats your take . Its baby bubble markets. Everybody files in with momentum because nobody truly understands the markets. Ive been against High Frequency trading. Let me take a step back. I think the fundamental problem with the markets today is people have forgotten that the markets were designed to raise capital for up and coming companies. If youre a multibillion Dollar Company you can raise a billion dollars in capital, no problem. If youre in sales and you need to raised 10 million, you have no place to go. The markets arent for you. That needs to be fixed. Until then the market becomes a platform for hackers. No way the s. E. C. Understands it, let alone controls it. People come in, electronic platform and act as smart as they can, and try to take advantage of it, black pools, Different Things. Electronic trading, which is great, reduced spreads and costs, has become algorithmic wars. Absolutely. You see nasdaq freezes, mini crashes in stocks. How do you invest by the way, more to come. Were about to see more and more products be, you know, transparent and trade on exchanges because of dodd frank. Can we even handle this, all these new products coming on exchanges . No. Derivatives products . Everybody is giving obama care deserved grief for the way the websites have handled. But think about this, the nasdaq froze for three hours, right . And its like, ho hum. The nasdaq froze. And then we had optioning surprising that didnt come through because of different letters. The more complicated the system, more likely the failure. Once it starts failing,ist hard to top. And its hard to get that market confidence back. We have to get back to where the markets are about raising capital. When we start seeing companies raising 10, 15, 20 million and 100 of them every year, we know were back. Literally youll have places to invest. Were talking about the same universe of companies over the last ten years. Yep. When twitter comes out, facebook, thats a big deal, and only three companies we can talk about, maybe 20 in total over the last ten years we can talk about about. You make great points, mark. You coming out and discussing what you learned over the last eight years is really a step toward more transparency. Im not trying to be vindictive. Im trying to be constructive. We need to get more market confidence. The s. E. C. Can fix it but they have to stop being lawyers and start being advocates. Dont be a stranger. Congratulations on the victory last week. Another affliction for obama care website. Has to have feelings feeling sick. Can underestimate insurance costs dramatically in some cases. What if anything can be done to fix the Public Relations nightmare of obama care. If you have the audacity to believe in straight talk, not doubletalk. If you have the nerve to believe that in a puzzling financial world, clarity is king. [ man ] if you believe nothing beats a sitdown for knowing where you stand. [ male announcer ] join the nearly 7 million investors who think like you do face time and think time make a difference. Join us. [ male announcer ] for 90 years, its how edward jones has made sense of investing. [ male announcer ] for 90 years, customer erin swenson ordebut they didnt fit. Line customers not happy, im not happy. Sales go down, im not happy. Merch comes back, im not happy. Use ups. They make returns easy. Unhappy customer becomes happy customer. Then, repeat customer. Easy returns, im happy. Repeat customers, im happy. Sales go up, im happy. I ordered another pair. Im happy. both im happy. Im happy. Happy. Happy. Happy. Happy. Happy happy. I love logistics. At bny mellon, our business is investments. Managing them, moving them, making them work. We oversee 20 of the worlds financial assets. And that gives us scale and insight no one else has. Investment management combined with investment servicing. Bringing the power of investments to peoples lives. Invested in the world. Bny mellon. Welcome back. Another day, another problem for the glitchy obama care websites. This one involves prices and big differents between some premium expectations and how much you end up getting charged. Bertha coombs with a story. You know, a new function added to the federal exchange to help people quickly preview plan prices is proving to be more confusing than helpful. Because the design of the function, well, it breaks down premium pricing into just two age groups. 49 and under or 50 and older, giving one price for each group. Depending on where you are in those age ranges, prices will vary widely. We looked at silver plan hmo in new jersey. Government estimate was 264 a month. But when we went to amera health site, you could enter your age and they came up with different prices. At 264, the premium was close to what a 21yearold might pay but a 31yearolds was more than 300 a month and a 40yearold is more than 70 a month. The discrepancies are even wider when it comes to the 50 and older group. The government estimate of 450 a month is below what amerihealth quoted us for a nonsmoking 51yearold. We got a quote 40 higher. For a 55yearold, the price is 587. 99. Nearly 140 bucks more. For a 61yearold its 275 more a month. Health department spoectionz person says for actual quotes you do still need to complete the application process, which the preview tool does state, it does not warn you, however, that your price could very well be higher due to your age. And none of these prices actually accounts for the subsidies that could bring prices down lower. But its one of those things, again, buyer beware. Theyre just estimates. You really still need to go to another site to do the research or complete the application. All right, bertha. Seems like obama care problems are piling up. Is this a pr nightmare that it can recover from . Joining me is a pair of Crisis Management experts, eric and david golden from golden solutions. Good to see you guys. First, the website starts crashing. Then some people couldnt sign onto it. Now reports bertha told us the price comparisons are wrong. Is this a pr fiasco or something even worse . Well, in order to get the treatment right, have you to get the diagnosis right. And this is both a pr and political problem. And an operational problem. On the pr side, the biggest problem is symbolism, which is if something becomes a symbol of ineptitu ineptitude, it begins to throw into question the entire program. And as in love as we are all are with technology, its a very different thing to be able to log onto facebook or buy something from amazon and manage your entire life and death health online. I dont think i think the former is easier, but this process is very complicated. Frankly, when it comes to health care, we want a person. So i think this is not an insurmountable pr problem, but the first step in solving it is to address the operational problem. I would just say, maria, i agree, symbolism is an issue. This is far more than symbolism. I think the president has no choice but to put a 90day moratorium on it. Theyre trying to fix it has that two problems. Its been shown they cant do it and it keeps the pressure on every single day. You in the media are going to be watching every day. Yesterday they had tech gurus come in. Today the shop function doesnt work. The president should take the pressure off, have the media focus on Something Else for a while, put the thing on hold and come back in march or april and start it up again. Well, i mean, you know somethings got to give, right, otherwise were sort of going to just continue talking about this and people will lose interest. I mean, at some point it affects the progress of the program. Well, i think that what happens is every single small catalyst leads to another round of coverage. I mean, just like in the bp oil spill, it was the visual of the well at the bottom of the ocean that kept the story in the news. There was a direct correlation between the capping of the well and the secession of hostile coverage. The more there is drip, drip, drip problems, youre going to get this continuation. Now, the other problem is no matter what you do, if you were to shut down the website, that will be considered mishandled because now we have this 24 7 commentary cycle where everything you do begets another round of coverage declaring that to be wrong. If they shut it down for 90 days, it goes away for a while. Theyre trying to fix it on the fly, tremendous attention. They dont know what theyre doing, clearly. The president should take this off his plate and fire secretary sebelius. It may not be her fault personally but its her department. The president created a situation where even supporters of obama care are now forced to criticize him for operational problems. There are deeper issues coming into play with the kind of plans that are available. If this does start working technically even if a few weeks, then people will complain theres not enough time to sign up before the december 15th deadline. President is in a difficult spot here. Gentlemen, thank you for your insights. Appreciate it. Well see you soon. Up next, wouldbe entrepreneurs have been making pitches all day. Up next cereal. 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. [ male announcer ] when we built the cadillac ats from the ground up to be the worlds best sport sedan. People noticed. The cadillac ats 2013 north american car of the year. Lease this cadillac ats for around 299 per month with premium Care Maintenance included. announcer scottrade knows our and invest their own way. With scottrades smart text, i can quickly understand my charts, and spend more time trading. Their quick trade bar lets my account follow me online so i can react in realtime. Plus, my local scottrade office is there to help. Because they know i dont trade like everybody. I trade like me. Im with scottrade. announcer ranked highest in Investor Satisfaction with selfdirected services by j. D. Power and associates. Its time for the final round of powerpitch tournament of champions all day today on cnbc. Six startup founders were given 30 seconds to power pitch. Four have been sent home. Two left for the final faceoff. Who will become the power pitch champion is up to the ultimajud marcus, host of the profit, about to crown a winner. Marcus. Thanks, maria. Guys, Everybody Knows my show the profit focuses on three things people, process and product. For the last couple of years weve had a number of Great Companies on power pitch. Its my opinion you two are the best. In this final presentation i want you to focus on pitching me on why i should be an investor, or more importantly, a customer. I have two great guys here. I have alex, cofounder of pet flow, subscription pet food service, and alias of songza. Take your position at the podium. Take ruby with you, please. Are you ready . Go ahead. So, fet flow was created for one simple reason. Most pet parents have to make a last minute trip to the pet store when they realize theyre out of pet food. They pick their food two to 16 weeks and a box of food, toys and supplies appear when they need it. We offer Free Shipping across the continental usa. Since we launched three years ago we raised 20 in venture capital, facebook followers. Were on track to be profitable in the next quarter. Tell me about your social media strategy. I asked you earlier about your cost of acquisition is per customer. I think it was 40. The high end is 40. Tell me how social media has played a role in that. The facebook audience has been a tremendous pool of new customers. We engage with people on a daily basis with cute photos of pets, ask our potential customers to submit photos of their cute pets, constantly comment on those photos and offer promotions to visit our site. As recently as last month, 40 of our new customers said they found out about us through facebook. And how many facebook followers do you have . A million. 990,000. Well get the extra 10,000 today. Oh, great. Anything else youd like to say in your final . Well, you said, you know, convince me why this is a great Value Proposition for consumers. It really is. It makes no sense to run out last second to the pet store when you can subscribe and have this delivered. It eliminating a major chore from most pet owners lives. Great job. Elias, youre up. Are you ready . Absolutely. Lets hear it. Songza makes what youre doing right now better. We use six data points from drinking Gourmet Coffee to jogging to going to sleep and we serve an expertly curated play list to make it better. No marketing at all weve grown to 5 million monthly active users, made a way for people to enjoy and design and experience where people tell us exactly what theyre doing so we can make it better. Thats when you say youve done no marketing at all, tell me about that. 5 million unique users a month . Thats correct. With no marketing . With no paid marketing. Tell me about the unpaid marketing. The unpaid marketing we do is basically enlisting other brands or celebrities to create lifestyle enhancing content on songza. Think victoria pregame playlist aimed at college girls. We make songza to make it better to us which drives traffic to us. Thanks. Its been a tough day. You sgguys have been here all d. I admire what you two have done in business. But for me, elias, i struggle with the model and the ability for you to raise revenues and more importantly make money. Know youre anticipating making money in the future. And i wish you a lot of luck because i do like your app. Its fantastic. But, unfortunately, are you not the power pitch winner. Alex, congratulations, you are the winner. Thank you very much. Youve earned it. You do a great job. Back to you. Congratulations to the champ, alex and petflow and elias from songza for a great power pitch. Ive seen the show and i want to know why you think pet food over music . 66 of households own pets. Its a 20 plus billion dollar industry, pet Food Industry alone. Alex has taken his company in three years from zero to 75 million and more importantly, cash flow positive. Alex, was all that stress worth it . Do you think it will help your bottom line . Im not sure about the bottom line but im sure all the staff of our new york office are in the boardroom watching this and equally as excited as i am. This has been an amazing experience. That is. In your show, marcus, you typically write a check and invest in the company. Youre not going to do that here today . I tried. The guy doesnt want any money. Hes profitable. As you know, i have 6 million customers across this country. They range in 35 to 65 average household of 100,000, im going to give him access to database, emails, catalogs. I want him to leave here feeling more profitable than what he came. Thank you so much. Marcus, thank you for helping us crown a new champion tonight. Thanks. Take a short break. Hes one of the richest men you may have never heard of. Up next, mexican billionaire Ricardo Salinas is with me and defend his comments about the role of women in soed society that have stirred a bit of controversy. At a ford dealer with a little q and a for fiona. Tell me fiona, whos having a big tire event . Your ford dealer. Who has 11 major brands to choose from . Your ford dealer. Whos offering a rebate . Your ford dealer. Who has the low price tire guarantee, affording peace of mind to anyone who might be in the market for a new set of tires . Your ford dealer. Im beginning to sense a pattern. Get up to 140 in mailin rebates when you buy four select tires with the Ford Service Credit card. Whered you get that sweater vest . Your ford dealer. Transit fares as in the 37 billion transit fares we help collect each year. No . Oh, right. Youre thinking of the 1. 6 million daily Customer Care interactions xerox handles. Or the 900 Million Health insurance claims we process. So, its no surprise to you that companies depend on todays xerox for services that simplify how work gets done. Which is. Pretty much what weve always stood for. With xerox, youre ready for real business. Is caused by people looking fore whatraffic parking. Yood for. Thats remarkable that so much energy is, is wasted. Streetline has looked at the problem of parking, which has not been looked at for the last 30, 40 years, we wanted to rethink that whole industry, so we go and put out these sensors in each parking spot and then theres a mesh network that takes this information sends it over the internet so you can go find exactly where those open parking spots are. The collaboration with citi was important for providing us the necessary financing; allow this small startup to go provide a service to municipalities. Citi has been an incredible source of advice, how to engage with municipalities, how to structure deals, and as we think about internationally, citi is there every step of the way. So the end result is you reduce congestion, you reduce pollution and you provide a service to merchants, and that certainly is huge. Welcome back. My next guest heads some of the biggest brands throughout latin america. Tvs, techa, and because of the success of those businesses hes landed on the forbes business list in the last four years. Joining me is mexican billionaire ricardo celisalinas. Im very hot on mexico. Ive been looking at mexico for a while. You really have your pulse on telecom, media and retail. What can you tell us about these three industries in mexico today . Its very exciting. You know, we just passed the mu telecom law, which will basically level the playing field. Mexico has been dominated by one substantial player, the old government monopoly, which became private about 20 years ago. That has left very little space for other competitors. We believe that now we will have a chance to have a level playing field. For a while we were looking at huge amounts of inflows going into mexico, foreign district investment going into mexico. They talked about cheap labor. They talk about the fact theres a Budget Surplus and the government is attracting foreign capital. Is that changing now, the government now proposing this new tax plan. Tell us about it . Mexico, we also learn from the u. S. Weve got to spend more, tax more. Okay. Those are the lessons of the u. S. So are you going to shut down your government . We have to learn on that one. We still dont know how to do that. But well catch on. No, im just joking. Listen, the tax package is talking about 1. 6 of gdp being transferred from the private sector to the government. Thats a pretty big chunk. And, you know, the government has many reasons why they have to spend more money. Yeah. So, do you think that is going in fact, has it already impacted Foreign Investment . I mean, im seeing the markets roll over a bit after a hugely fantastic performance from mexico. Havent seen that this year. They put a tax of 10 on capital gains, which wasnt there. Obviously, that devalues the whole stock market, no . Yeah up. Think for example, you know, fixed rate securities are very attractive in mexico. The Exchange Rate is quite solid. Portfolio investment in the stocks has not been so hot, but many other things in terms of direct investment. Mexico is a very logistic center, so Huge Companies that, like, felixtronics have companies there and its nice to be in the same time zone as the u. S. You were joking and stalking about the u. S. Government and learning from the u. S. Government. We just went through real drama. Government shutdown, a lot of people, you know, criticizing the u. S. For an inability to get anything done. Has that changed the perception of america from outsiders . Well, you know, i heard Hillary Clinton today say if you go to a restaurant and you sign your credit card, then the bill comes to you and you dont want to pay it, thats not very nice politics. Especially this debt ceiling in america, bills that have already been incurred. Its obviously very unserious way to manage business. Its very sad. So, it does, i think, affect america and it would be good if politicians here could get their act together. For sure. What are you seeing in terms of consumer in mexico . For a long time we looked at mexico sort of the way the u. S. Was in the 1950s. People were rising the ladder of success in many ways and spending money, buying a lot of goods. What are you seeing from the consumer in retail . Thats still valid, but in the past couple of years, retailing has been under kind of a recession because the government stopped their spending, especially the last 12 months. And thats sort of cooled things down. Still the fundamentals, this is a young country. More than 50 of the population are under 25 years old. They have to make a livelihood, they have to get their stuff together. Theres lots of opportunities, especially in telecom. Weve seen consolidation in telecom. Everybody wants a smartphone. Everybody wants a smartphone. There are 6 billion phones on the planet, not obviously all smartphones, but this whole mobility trend is empowering people. Yes, it is. It makes a big difference on whos of the digital divide. Will we have broadband for everybody or not . Thats a big question. In terms of growth coming out, what about energy . Thats been a space talked about. It has been a touchy subject. The president decided they want to open up the oil sector, esis specially for the deep oil and shale oil but its not clear that reform pa kpack age makes t through congress there are a lot of people opposed and in favor of it. Do you need to merge in telecom to get bigger to best compete with some of the competition around here . We dont need to but there might be some opportunities for that. Youre looking to expand . Yes. There is so many things to do. Really what we need to do is capital to deploy in that sector. When do you look at the capital and say okay, were overdone . Remember years ago we were laying pipes and pipes and it ended up the business wasnt there. Well, thats one of the things that entrepreneurs have to figure out. That is where the private sector has to take their capital and take those risks. Who knows whats going to happen . We make good educated guesses and try our best but we dont know and cant tell the future. How are you allocating capital . A lot in tell con. Joining us here, ricardo solenos. We have a from view for you up next. We will give you a leg up on what will move your money tomorrow. Back in a moment. Even when we cross our ts and dot our is, we still run into problems. Thats why Liberty Mutual insurance offers accident forgiveness if you qualify, and new car replacement standard with our auto policies. So call Liberty Mutual today. And if you switch, you could save up to 423. Liberty mutual insurance. Responsibility. Whats your policy . All right. Tomorrow, tonight. 30 seconds on the clock for our guests to tell us what we should be watching for tomorrows opening bell. Darren wolfburg and peter. Peter what do you want to be prepared for . Thank you for having me. Tomorrow weekly jobless claims and pmi come out. They will indicate an economy that is slowing or continuing to grow. We are long term equity investors. Much more important to us than the data are the earnings for two of our companies that are being released tomorrow. Gnc holdings, the vitamin retailer. Were looking for good numbers for each of them. The guidance they give for the Fourth Quarter and the coming year will be important. All right. We will be watching that. Darren, what do you want to be prepared for . Thanks, maria. We will be watching jobless claims tomorrow. With the government shut down and the Economic Data a little more skewed, the weekly data is going to become that much more important. Were watching the peoples bank of china money market rate which moved higher significantly last night and caused some risk unwind with the end surging and european equities all moving lower. Lastly, were looking at the 1735 level in the s p and there seems to be some significant support here. Two names, a r and aa both moving significantly higher in this downdraft. We will watch all of that. Thank you very much. Appreciate that. Up next a recap of a downer. Stay with us. Its as simple as this. At bny mellon, our business is investments. Managing them, moving them, making them work. We oversee 20 of the worlds financial assets. And that gives us scale and insight no one else has. Investment management combined with investment servicing. Bringing the power of investments to peoples lives. Invested in the world. Bny mellon. Before we go, take a look, we did end up off of the worst levels of the day. Volume picked up at the end of the day. Nasdaq gave up about 22 points. Pulling back from yesterdays all time high close at 1746 with a decline on the day of 8. 25 points. My observation returns tomorrow. Fast money begins right now. Have a fantastic night, everybody. Live from the Nasdaq Market site in new york citys times square, this is fast money, americas post market show. Timing the trade. It is hard to sell the winners and buy the losers in one of the best trades in recent memory. When doves cry. Is it possible that the fed could actually be more hawkish than dovish . We have got that call and how to trade it with
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