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tv   Fast Money Halftime Report  CNBC  January 12, 2022 12:00pm-1:00pm EST

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carl it will be interesting to see how tony deals with both the pr challenges of being a part of meta's board and the expensive view that it gives of the digital landscape where he places as well as in the real world. >> definitely one of the big executive moves we're watching today. tomorrow it's brainard's turn on the hill let's get to the half. >> carl, thanks so much. welcome to "the halftime report." front and center the comeback, whether it can be trusted and we'll ask the investment committee which is making more key portfolio changes today. joining me for the hour, jenny harrington, steve weiss, joe terra nova and jon najarian cofounder of market the dow is holding on to 31 points and the nasdaq, 1/3 of 1% despite a cpi year over year headline, the most in 40 years
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can we trust the bounce in tech? steve weiss, or is it still vulnerable a look at your moves and your moves would suggest to me that you think you can trust it because you took all your shorts off on monday and you have your exposure back up significantly are you a believer in this bounce i was a believer on monday afternoon, and i would like to see -- or i would like to see how quickly things change. monday, we saw them change yesterday and we'll see how they change this afternoon. look, we're not done with the volatility right now what seems to be placating the market is that yields went too far, too fast and haven't been short the tlt that was phenomenal for me, and took that off, as well and the reason the impetus was taking it off was when they released jay powell's opening statements to
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the committee for his approval for another term it's bad what i expected and the market digested that here we are now. i think we're getting closer to the bottom in yields again and we'll see them ratchet up, but you have some time so in answer to your question directly >> three minutes -- three minutes before you answered my question directly, weiss let's go the train's leaving the station. >> i needed the background i got it i was too happy and i need my visceral move to be me we're not done with the companies selling at a hundred times revenues because that's not a proper valuation and you can't stick a stick in the sand and say 75 times revenue is appropriate so they have further to go and any pops i would sell those and the others, i've always thought there's value there.
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my exposure came down because i'm putting on hedges and i'm staying with the stocks for now, but i'll see yields back again and i'll put them back on. >> you did have more applied materials and semis. you are taking advantage of some of the declines to buy some more stock. that has to say something, weiss. give me the direct answer this time, too. >> right off the bat, scott. i'm coming right at you. they got cheaper and they came down more than the other stocks and for the most part, i didn't have a full position of applied materials and i had almost full position on and on, and i want to add up and be full in those facebook got down a lot lower, but i'm starting to get out of that trading position while keeping my core position intact. okay so we have had a nice bounce and some technology stocks, jenny. alphabet's up 3.1%
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by the way, i was looking at apple earlier and i was looking at cathie wood's stocks. i'm pulling them up, bear with me for a second. >> i hear where you're going >> octa 10%, data doc, 3, adobe, pallant ir a lot of these stocks have bounced. should we be believers or sellers? >> the reality is most of the ones on list that you named are still trading at valuations that don't make sense for their current growth prospect. so off the top of my head, i don't know what the valuations are, but i do know what it is on apple and apple's earnings growth for the next two years are expected to be 3% this year and 5% the following year. the multiple of something that grows on that range doesn't make sense. apple is an amazing company and i'm not saying it should go down a lot and it doesn't make sense that it should be a huge grower from here. to steve's point earlier
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there's a lot of bifurcation and there are companies trading at a hundred times revenues and just because it traded at 100 times before and trading at 95 times now doesn't make it a buy. i'm having flashbacks to the '90s right now in the '90s i was one of the people totally in and gung ho. i thought something is down 50% or 10% now is the time to buy no no, it wasn't. just because something is down significantly doesn't mean that today and the future prospects make today's share price the right time to buy in it, so we need to be careful in saying buy tech this is a year when you need to be a stock picker and you need to go company by company by company. we've trimmed it a little bit here and a little bit there and we talked about it yesterday look, this is an amazing company, growth prospects for the semispace is fantastic and it's not what we are paying for two years ago and the growth
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prospects going forward are not what they were we have other companies like palo alto and cisco. those, i think, you can buy here i know people will pick on me for intel, and there are decent growth prospects on that and trading at a fraction of a multiple so i don't think you say buy growth on this comeback. i don't even know if it is a comeback sort through and find the companies that are fairly valued with reasonable growth prospects ahead and pick carefully >> dr. j, what do you make of all of that? >> i always agree with picking stocks carefully, judge. >> as you know, they follow them and the meme stock folks, no offense, guys and we follow them from institutional size trades did we start to see that yesterday? yeah, we did to steve's point, we started to see it late monday and then it bled over into yesterday fora very nice rally, but -- and
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here's the cautionary part of that, too, judge the volume was down about 14% which might not seem like a lot, but when you're doing 42 million contracts and all of a sudden you drop to 35 million contracts on a big rally day, that's telling you that it was either a or very concentrated which i believe it was, very concentrated rather than broad or b, there were a lot of non-believers. if we wanted to continue to play contrarian, you can say those non-believers, that's great because that means not everybody is on the bus and we can see more rallies to come i'm playing for, you know, some grinding higher and not rallies like yesterday, scott, but grinding higher and to me that will prove out whether or not we have seen the turn >> joe terranova, here we are
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talking about centric stuff and most of what you've got going on and your new moves are outside the u.s. which nobody really talks about enough you bought the vanguard europe etf and that is the vgk and the emerging market etf the iemg the eef is up 3.5% year to date. so why is the best opportunity right now not here >> because geographic diversification is what you will need to manage in 2022 specifically in emerging markets. you're seeing, merging market debt so far have a strong start to 2022. you have a valuation discount that's dramatic relative to the s&p 500 and i want to capture some of the semiconductor recoveries specifically in asia. so iemg, the largest holding is taiwan semi, speaking toward the vgk, that's exposure to europe and i've told you in the last couple of weeks the german
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positive territory will flip for the first time in 2019 if this will be a continuation of a value-oriented rally you will see the one geographic region where you see the largest composition of value companies and you're seeing that year to date u.s. financials, they'll ultimately find a boundary for investors that raise allocations to financials and they're going to look overseas and they'll see a dramatic discount that european banks have relative to the u.s. so i just feel that in 2022 to manage the volatility, you need geographic diversification let's go to europe and the emerging markets toget it? >> why did you sell fortnet? you initially bought it in may at $2.14 you can tell our viewers why you decided to sell it >> so i listened to everyone's comments at the opening here and i want to go back for a second and understand there's a strong
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correlation in the beginning of the year between the 10-year treasury and the nasdaq. the ten-year treasury eight trading days so far in 2022 and the first six trading days go higher on monday morning at 10:21 27 minutes later, scott, 27 minutes later the nasdaq bottoms. you now have had a significant recovery it will take you into earnings, right? so you will be okay into earnings, but you have high beta expos exposure in technology take advantage of the recovery we have now and take advantage of it. that's why we have a beta of 1.67 that's too high. i'm not comfortable with it. the market is giving me a gift of taking out and i'm taking advantage. >> that's the market that we're in kolanovic says buy the dip >> no. no no i did not say that
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what i said was -- >> i took what you said and then i decided to say it, but go ahead. >> okay. so -- no, no, no well, you're wrong [ laughter ] you're wrong what i said was the nasdaq as i told you on monday was going have a short covering rally. boom we have it the technical formation for the nasdaq is intact you did not break the 200-day moving average that gets you to earnings. that's going to support technology overall, but if you have high beta exposure and you know what, scott if you're trading you have to understand what that means if you have high data exposure now is the time to get out of high data exposure the other apple, they're not high beta stocks. >> they're still going up a lot. they're still going up a lot stephanie link sold out of alphabet yesterday and put the money into meta. i mean, alphabet was up big last year
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so she used the pop to get out of a name even like the ones that you suggest are going to be just fine. no problem with that alphabet held the 200 day perfectly and they're not changing the allocation. i hold alphabet. i don't hold facebook for a variety of reasons and i'm comfortable in that position and i respect stephanie's position i don't think anyone on the show would question that. >> so let's discuss what jeffrey gundlach of double line made news in terms of where we are and where we are going from here, he says, among other things the rest of the world is significantly cheaper than the u.s. stock market. so he agrees, i think, with joe teranova he says it's undeniable that the stock market is supported by qe. i think we'd all agree with that so expect headwinds with the stock market with fed tapering
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and not predicting the recession yet and expect recessions to rebuild. yield curve at this stage the yield curve is sending a don't worry, be happy signal it's sending a pay attention signal if powell will follow through on everything it takes to get inflation under control. jenny, what do you make of what jeffrey is saying? we'll speak to him in person next month with the super bowl here he is a few week ahead of that what do you think about it >> so when i first read these comments i thought oh, my god, i agree with gundlach, and i never agree with gundlach and he's a permeable. the clock is right twice a day that's a bit where my agreement -- >> sorry, permabear, thank you i'm so sorry
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thank you for correcting me. >> i'm trying to get our interview canceled before i teased the whole thing >> i'm so sorry. he's generally bearish a lot of the time so for me agreeing with him is not -- i don't think it's not, wow, we're both bearish at the same time and it's he's generally bearish. i'm cautious i wouldn't say i'm bearish i'm cautious i thought it was interesting that he focused on the europe part and that joe focused on the europe part or international part because i agree with that, too. i think there is a lot of value there and a market skewing toward value so i agree there are a lot of headwinds coming our way and gundlach highlights them really well. >> joe, do you think we have some significant headwinds ahead with the tapering or, i mean, isn't it in the market already it seems to me the only question at this point is where are rates going and how many times will the fed hike rates in 2022 the tapering is old news at this point. >> agreed.
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so what do we have 90% probability right now? that's what the market is pricing in he got comfort yesterday in his messaging that the balance sheet runoff was going to be handled in a conservative way and maybe that made the market feel better and scott, i'll tell you one thing that no one mentioned that senate confirmation hearing and to me it's the single most important inflation card in 2022 >> look at the price of oil. the price of oil is approaching $83. >> we'll call it $83 >> 11% higher for natural gas today you're going to tell me the federal reserve isn't going to be bullish in 2022 if the price of oil is sitting where it is right it's the biggest indicator it's no wonder that in the stock summit you had multiple people in the committee to back up a great year in 2021, doc. >> yeah. exactly, scott
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inventories were at a what four-year low for crude oil to joe's point. i think the car prices and the used car prices will be more of what the fed pays attention to, joe. i think obviously, this is a significant input and the price of crude oil and the resulting distillates, but higherinteres rates aren't going to affect that as much as they affect used autos and homes in my opinion, scott. so that's yet fed has no choice. they have to talk like a hawk and they will continue to do so. if they get help from the market somehow, then i think that they can back off a little bit. otherwise they'll have to make it seem like march is the day and march will be in play and if that is indeed the case then you're justifying the 170, 190
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area for that tenure >> weiss, i was looking at twitter and somebody was asking whether you have anything new going on i'm tired of hearing i added to this, and i added to that and i was short this for ten seconds and i covered it before the show and then i looked at my notes -- >> i'm a real guy, scott >> you do have something new you bought eastman chemical. that's new >> what about this stock made you want to buy here >> well, the stocks misunderstood often like i am on the show by you, frankly it's misunderstood it's thought of as a commodity company and it's valued as a commodity company. >> i definitely think of you as a commodity, weiss >> okay. so we're on the same page. >> i was thinking more like lumber
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john, don't you have to hit the slopes any time soon >> it's dark here. >> perfect, go out eastman chemical was re-rated recently and even analysts, but it's commodity chemical company and their business and part of the adhesive businesses and they are now more into the growth end. as a result, it's still selling to a major discount to the other chemical companies, so it's growing nicely and management came out with that number and 950 to 10 and it's 12 times and free cash flow yield is 8% and for jenny, of course, it's got a dividend and it's got a yield. so they're buying back stock and the other thing i like about it, it's more green than a lot of the other specialty chemical companies and they've got new
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technology that uses molecular recycling of polyester which given your wardrobe you should be thrilled about that, and i think it can go up, 30, 40 points from here >> jeremy siegel is a professor of finance at the wharton school he's back with us now. it's good to see you welcome back where are you in this market it feels like it's treacherous and tumultuous and yields are cooperating. >> yeah. you know, i think we have to look at that cpi report this morning. it wasn't as bad as some had thought, but it wasn't good. as one of our participants said i'm looking at oil at 83 that's, like, one dollar off its high energy was minus 4% in that december figure. it's not going to be minus 4.4%
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in the january figure. everything is pointing upward. some of the people are saying we look at hospital services and do we know what's happening in the hospitals? do you think that those services will stay only 1% above the cost of what it was a year ago? everything is going up and you interviewed me last year and the fed will be far more aggressive and in my opinion, far more aggressive than what the street thinks this year >> professor, okay i'll give you the benefit of the doubt and say everything is going up, theoretically, it is everything that's going up, but it's not going to stay up forever, professor this is all pushed on by mostly. i know some will be throwing their stuff at the tv and say the pandemic and you have supply
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shortages and commodities and semis and autos and this and that and that's the principal reason that you've got the inflation that you do and come later in the spring and the summer, it will moderate, why do you think that will happen >> i don't think that's true it's too much. when you have a 35% increase with march something that we've never seen before money growth exceeds anything in our 150-year history that we have money grow, and this year is -- 2021 was 15% money growth. this is way too much money this is a demand problem and not just a supply chain problem. this is too much money chasing too few goods and i'm not going go down. the question is when will they stop going up?
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>> you might be right -- look, you might be right on wages. those may not come down, but other things may already come down around the commodity complex. >> the general commodity indices, take a look at the crb index and take a look at the goldman sachs index and they're right near the all-time highs and the lumber that soared last year and it may come down with others, but if you take an average of them and they are near the all-time highs and you take the most important one of all, oil and it's back up at its all-time high despite the omicron virus and the cancellation of flights and planes which are a big yierz of oil.
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t that does not bode well for 2022, in my opinion. >> professor, you sound leak you're running around saying the sky's falling, the sky's falling. are you selling everything you have >> no. no, no as i said, stocks are real assets you just can't hold paper assets which are bonds. stocks are real assets what real rates does mean is the rotation that we've been talking about. that certainly happened in the first week of this year, and i think it will happen throughout the rest of this year. no, i'm not out of stocks because people are -- tina, right? there is no alternative. where are you going to go? are you going to bonds are you going go to cash which is disappearing and it's 7% inflation and it's disappearing at 7% a year because you're getting no interest on it >> do you want to stay in stocks, but it also sounds to me
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like you're suggesting that this is finally value's moments and cyclical stocks will outperform growth and technology because where rates and the fed are going to have to do their thing, is that right? >> certainly, i think so >> listen, dividend stocks are protected against inflation because firms have been able to raise their prices or cash flows and increase their dividends and i think that is what investors are going to seek in 2022. >> you can go to tips at minus one. that's not an answer you have building stocks at 3.5, 4, that are rising and capital gains. >> professor, you are talking jenny harrington's language. i need to get her into the conversation rid now i need to see her on camera and make sure that she is still
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sitting in her chair and not standing up jumping and cheering. >> my heart -- i am, and my heart's growing three sizes. thank you so much, professor siegel for the endorsement on the dividend stocks. >> thank you >> one of the interesting -- no, thank you. one of the interesting charts that joe showed before was the correlation of the nasdaq and the 10-year treasury as you know, there's an even more interesting correlation between cpi and the ten-year treasury so i would like to talk a little bit about where you think the ten-year goes historically with cpi. >> well, certainly, if we go back in the '70s we had very, very high interest rates and high inflation a lot of people are puzzled and why upon is the ten year higher? the ten-year has become the favorite short term hedge of so many money managers because if something bad happens issue the dow is down 2,000 or 3,000
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points and the treasurys are up three points and that insurance policy has become and it shows that more valuable over time it's not an answer for long term investors and short term investors are like a short term cushion that are willing to pay the price. i think they're paying far too high a price for that, but that's one reason yet ten-year is not 2, 2.5 or 3% now. it's that there's been a tremendous flood of demand into longer term treasurys as that so-called risk asset hitch. >> professor, can you do me a favor? i don't know if you have a class to go teach. can you stick around and can you come back and continue our conversation i have to pay bills, but i don't want to lose you can you hang with me >> unfortunately, today i do have something at 12:30. it would have to be another day, scott. >> let me ask you one last question, though one last question. there are forecasts that we can hit, i don't know, 5100 this
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year, 5200 on the s&p? does that make sense to you? >> yes i mean t does because again, people are going to say i've got to be in real assets interest rates are going to go up, but that makes bonds worse, by the way i mean, until you wait for the interest rates to go up and still, what's at two, a 2.5% bond when you have 5.7% inflation? that's not a good answer, either >> stocks are the place to be. >> you go to your appointment and i apologize for negotiating with you on live television, but i wanted to see how far you can go >> we'll talk soon. >> absolutely. you take care. >> professor segal at the wharton school big banks reporting earnings in less than 48 hours from now. we have a number of llbuish calls on one stock ahead of that we'll talk about it next
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steve weiss, why is that >> you know, i've looked at it, and i do really admire the ceo he's pretty accomplished and he's been doing the right thing with the patient -- >> charlie scharf? >> yeah. charlie scharf it's sad that the top pick has a 10% upside i think there's much greater upside than some of the others. >> like what >> wells for example owe reflected the poor -- >> i think goldman, for example. that's what i own. i believe b of a still has plenty of room to the upside wells fargo never fully reflected the poor fundamentals, so it's been paid for in advanced when charlie came onboard. so that's why i'm not that excited about it i think it will go out with the others and in terms of leveraged interest rates i like goldman and b of a much better >> jenny, what do you make of wells? >> i think we have to give stephanie link credit for the
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one being timely and early it's up 17% year to date and i like the call. we'd actually been doing work on it, and we're just slow so we regret not having been earlier there's not likely to be 66% ahead of it and thera decent upside from here and i regret not owning it. >> i'm sure she'll appreciate that she does deserve crops on that and i want dr. j's opinion, too. it was the worst setup possible for wells. it's run a lot into the number and scharf is just not the kind of guy who will go on the call and give you some grave, glowing narrative. if you're an investor thinking of buying the calls that we just read you. >> i don't own wells and it's an
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outperformer and it's up 16% relative to city, usb and bank of america which i own and they're up 11% we know charlie scharf has been excellent in reducing expenses they have to complete the consent order and the upside is that they're able to complete that faster. the question is the loan growth. that's why i'm not in wells fargo. i'm not so sure you're going to see incredibly strong loan growth, and to do a lot with the banking institution. i haven't been in the name and i don't think i'll be in the name until i see that loan growth and there's something that there's a lack of clarity towards. >> doc, i remember way back when the worst of the wells news was hitting. we're talking a few years at this point and i mean the rell worst of it, doc >> come on, you were a buyer, but you don't own it anymore. >> i was
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>> no, i haven't, and shame on me because to joe's point, there's been significant outperformance in the short term and i do like other stocks in the financial sector better, still, scott j.p. morgan, capital one, usbank, and i like all of those better than wells right here they're getting a lot of upgrades everybody has upgraded the stock in the last ten days leading into this. so is cramer right is it going to be a broken dream? because that's just all on the table right now. they can end up pulling a rabbit out of the hat, but i won't be in it and i haven't seen unusual activity for quite a while >> this paypal call today. paypal's been stocked. cramer called it purgatory it hasn't done much of late. it got downgraded today at
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jefferies and it's a stock that people watch closely you own calls. what's the story >> you bet >> as i said, i was trying to buy it under 180, and i ended up paying over 180 for it yesterday, i thought i was a genius, scott. i was up six bucks through 191, and i was tweeting back at my haters saying, okay, where are you now? today it gives up five and a half bucks like that this is an exact opposite of wells fargo and everybody was downgrading targets and in particular, jefferies, of course, not only cut the target, but took it to a hold. i'm still comfortable holding the stock. >> actually, we won't take a quick break. we'll go to rahel solomon who has the headlines. >> here's what's happening at this hour. >> president biden is expected to go to capitol hill tomorrow to discuss voting rights and potential changes to senate
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rules. multiple reports say he will attend a caucus lunch to drum up support for election support. on capitol hill rate now harry reid is lying in state colleagues and friends are gathering to pay tribute to the five-term senator. reid is the 41st person to be give then honor. number one ranked tennis player novak djokovic said he did not isolate after testing positive for covid and it was an error in judgment. there were mistakes made on his australian immigration forms and the comments were part of a statement from djokovic seeking to simplify the open tournament. a rat finding mines has died he was awarded a goad medal for his efforts and called a hero. one rat can clear the area the size of a tennis court in about 30 minutes a human, meantime, with a metal detector takes up to four days the more you know, scott
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i'll send it back to you >> rahel solomon jon has his unusual trades unusual trades we'll be right back. indeed instant match instantly delivers quality candidates matching your job description. visit matching your job description. ♪ ♪ ♪ digital transformation has failed to take off. because it hasn't removed the endless mundane work we all hate.
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unusual activity time.
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dr. j, what do you have for us today? >> we're going to give you three of them today, scott. >> all right >> starting with fang. f-a-n-g. the stock's up 65 in august, scott through 125 yesterday, down a little bit today. i bought these calls today two others that i already own, freeport fcx, they were buying 36,000 calls in one single print. 36,000 3.6 million share equivalent at the -- what? february 46 strike they have been rolling, rolling, rolling, up, up, up, scott, making money on these trades the third and final, lucid it's right now weekly calls that expire this friday the 14th. they're buying the 50 strike calls with the stock at 46 i think it could get to 50, but i'm buying 45s and selling upsides against it, scott. >> busy man.
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dr. j, the first big ipo of the year it prices after the bell tonight. we'll tell you what is itand discuss if you should get in we'll do it next
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the first big ipo of the
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year getting ready to price later tonight. leslie picker getting ready as always what should we expect and who is it >> hi, scott just getting word from a few sources on this one that tpg's bankers are guiding investors to pricing around the midpoint of the range. that would imply an offering size of $1 billion and a valuation above $9 billion final pricing should be announced tonight. tpg flirted with this idea of joining its private equity peers in the public market for years and the first saw an opportunity in 2021. take a look at shares of blackstone doubling last year. kkr, carlisle each returning more than 70%. apollo was technically the laggard if you cancall it that but still doubling the s&p tpg was seeking a high-dollar valuation and soon after the equity markets declined thanks in part it a pop in yields so, too, went those lucrative
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alternative asset managers although they recovered a bit and many of them are trading higher today the macro concern are that these business models which haven't really been tested in the public markets in anything but a low interest rate environment and could see headwinds from a shift in monetary policy a higher risk-free rate puts pressure the managers to have bigger exits to deliver a higher premium to their investors and it can make debt refinancing more expensive i'm told by a source that the tpg has been emphasizing a source that may be more insulated from the rising rate environment, scott >> it could test overall for the market after a year in the tried and true name in the business that they're in. >> that's absolutely right and it's interesting timing given that it's the first one of size that we are mentioning a billion dollar ipo is definitely a large one, and it comes after a year where 61% of
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the 2021 class of ipos are under water. so the question, i think, is going to be this idea of how likely investors are to really fork over money for these new issues we saw more of a growth-based ipo pull its deal today. tpg, it's been around since 1993 it's not a new company, and it has a track record and this could be more the model for ipos that we see this year and the cyclical nature and not newer companies and profitable companies and i think you can expect to see more of that in 2022 >> appreciate it, leslie leslie picker. you hope to get an allocation here. >> yep the board that was on, scott, we got merged on to another company. i'm not on that board anymore so i can once again participate >> you previously owned kkr and the returns that the stocks have
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had? >> absolutely. i couldn't agree with leslie more we want to come public and tpg is qualitative in its nature and 20% of its assets are in asia and they have a specific focus impacted vesting and esg, i along with doc, would look to buy this name. we will take a break and we'll come back and we'll answer some of your questions next we are back for ask halftime in just two minutes
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let's answer your questions now. mary in death asks would you sell apple to buy facebook in 2022 for a better return that's an interesting question steve weiss, what do you say again, i just bring up and a lot of people say heck, no, i would never do that. stephanie link sold alphabet and put into facebook, so, you know, there is precedent to selling one mega cap and heavily loved stock and putting it into facebook >> so if i had to pick one, i would pick facebook. the reason i own apple is because i do believe they're going to have some new products coming out this year that are going to drive the stock, but that's sort of a guess right now. in terms of fundamentals, in terms of valuation, in terms of growth, as jenny pointed out before, i would definitely own facebook over apple. >> jenny >> you can own them both and i do >> i think you need to consider what kind of account you are doing this in. if it is an ira and there's no tax consequence, i agree 100%
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with steve for that reason apple is a 5% earnings growth for the next couple of years feign has high teens, low 20s. you have facebook trading at 23 times. but if it is a taxable account and you will be hammered on capital gains it is a different equation >> joe, how do you answer this question >> doesn't fit with my process if you basically look at a chart of facebook, the moving average is in the price look like a ball of yarn. they're all jumbled together apple on the recent sell-off didn't touch the recent 50-day moving average i believe in buying strength is where confidence is reflected in technical formation. i love the buy back from apple and i think facebook will have mid-term election year regulatory challenges. >> okay. all right. we will do "final trades" next >> you like that >> it was all right. >> yeah.
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all right. at 10:00 p.m. eastern do not miss the 200th episode of "american reed." here is a sneak peek >> i think her great strength was selling the vision, you
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know, getting investors excited in the vision. she has great charisma, great charm, and she's a great saleswoman >> and thanks to her parents' connections, holmes has another advantage that many silicon valley founders lack, easy access to billionaires, including oracle founder larry ellison. >> she was able to get larry ellison to invest money. i think once she had ellison involved it became easier, because from ellison she got george schultz and she was off to the races >> that premieres tonight at 10 p.m. eastern herone cnbc. we are back after this with "final trades.
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so you can reach more customers, create more opportunities, and make this the best year for your business yet. visit your local t-mobile store today. calling your attention to the market here. ten-year note yield, 171, holding steady nasdaq has been moving a little higher, up two-thirds of 1%, 15,245 s&p is above 4,700 there's the dow in the green as well at 36,354 we were having a conversation earlier as we're less than 48 hours away from earnings season, some of the banks reporting this season dr. j we were talking about calls on wells fargo and you just bought wells fargo calls. >> yes, sir. so i talked about all of the people who have been upgrading this one, scott, and it is across the board they're upgrading targets, they're upgrading outlook. i was not in it.
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i told you i was not in because i had not seen this buying, and now we just have so whether it was one of your viewers watching that decided to pull the trigger, they bought 28,000 calls so if it is one of the viewers, scott, it is somebody running some institutional money because that's a big trade, 2.8 million share equivalent, just a dollar out of the money on those calls. 57.50s out in february those are the ones they bought. >> all right wow. we'll make it your final trade that's good stuff. jenny, what do you have for us today? >> thank you, sir. >> sticking with our theme of international and energy i will give you one from our international dividend portfolio. total, eight times earnings, 5% yield, direct beneficiary of higher oil prices. >> okay. steve weiss? >> 51 job. ticker is jobs, the only chinese stock i own. i bought it last month in the 40s. they had a bit on the table, management taking a private at $79. they dropped it to 57.50 today,
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57 and a quarter so it is a good r play, an easy 10%. i think the deal goesfor at least this price >> okay. we will keep our eyes on that one. joe? >> communication equipment, f5 ffiv is the ticker symbol. >> good stuff. just point out the markets, again, hold in there pretty well considering the cpi print we got. rates are behaving and stocks are up "the exchange" is now. ♪ thank you skrech, scott. hi, everybody. the big story today, absolutely is inplace the cpi rising 7% compared to last year. the biggest jump in 40 years, but like scott just said, markets aren't selling off, bond yields are lower we will look at what the real story here is. and when it comes to evs, one of the biggest challenges is making the cars as cheaply as you can make traditional ones. can ev makers get costs down enough to please customers and bankers? also in rapid fire, travel troubles, payment problems


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