tv Making Money With Charles Payne FOX Business November 24, 2021 2:00pm-3:00pm EST
totally unrelated to the markets, s&p and both in the green. relatively calm trading day on this day before thanksgiving and with that, a little early, i'm going to hand it over to charles payne. good to see you. charles: thank you, my friend. happy thanks giving indeed. good afternoon, everyone. market is navigating around red flags seen a lot of weakness between the surface but we're also seeing resiliency. that is what is happening in the market. despite all the carnage in the nasdaq they're starting to come back. the question, if your favorite names have been hit should you keep buying at this point or should you cut and run? we have the right guests for you. the ceo of the world's most important banks bend as knee to china after speaking out. what does that mean over
influence over america and. doesn't the energy secretary need to know how much oil we use every single day? apparently not. what are they interested in? you'll find out and more on "making money." ♪♪ charles: the market opened up a lot of pressure. i got to tell you there are a pockets of resolve. yesterday we saw a strong rally into the close. that said, there is serious shift mainly in styles. adjustments based on new realities. what does inflation mean? what do interest rates mean? the bottom line the market doesn't want to stay down. which know that investors do not want to get out of this. they rotate, look for cover instead of the sidelines. there is a lot to digest. i want to get to two of my favorites gary kaltbaum and phil blancato. market breadth is more important than how the indices close.
we know it can be misleading. for two weeks we've seen a plethora of new lows particularly on nasdaq. they are hinting perhaps at a massive selloff. gary we talk about this a lot. how does it say how have errable that 500 names closed at 52-week lows yesterday? >> first a happy thanksgiving you and yours charles, to you phil, also that is the most important thing right now. when you see 500 yearly lows with the nasdaq up near the highs, it tells you that the big money is parking in the megacaps because they're more liquid, which tells me there is a lot of derisking going on. so something to be real careful about. if you watch interest rates pick up, growth stocks come down. if you see interest rates tick down, growth stocks bid up. so it is going to be a big fight as far as that. i just call the market very,
very mushy and much more narrow. i had about 50 names that broke support this week that i don't think are coming back. but the money is going to selective things like advanced micro device, nvidia, qualcomm. some of these names are strong as an ox but some went by the wayside last week. charles: gary, i give you a shoutout you were warned about pending sharp declines in spacs and ipo and tech. you were 100% right. you're talking about stocks falling through the floor. are any names overvalued to begin with on your potential radar to buy down the road? >> there are definitely ipos out there. i will give you one, issue on it. roblox, rblx. i don't own it yet. triple digit sales growth. the problem is it has 72 billion-dollar market cap with less than two billion in sales. just like good investment bankers are at the end of cycles
they come out with ipos at ridiculous valuations. you have to wait until they come to proper buy points. i think that is in time. name like roblox is doubling sales every year. eventually that stock will hum through the future but i'm not sure in the near term. charles: anybody with grandkids to buy that one recently on that dip. >> exactly. charles: money moving out of growth into value. coming into the session it has been the exact opposite. growth about 10%age points higher on the year. phil, you've been talking about panning out this whole scenario. coming true. i want to tip my hat to you about that. is this the big move, big value move, we put all the chips on value? >> you do. it is really simple everybody, just buy names where you spend money. spend money this winter on utilities, quite a bit of it. spend money on staples. discretionary names going into the end of the year.
names that can pass through the cost of higher inflation to the end consumer. names benefit where we spend that is the value trade. the banks are still cheap. banks are still inexpensive. but to gary's point, thank you to both of you, honor to be on the show with both you, right back at you, gary. to gary's point death leave growth names but there is fact that consumer will spend 2 1/2 trillion dollars between now and the next six months. charles: phil, i've been busting your chops since the beginning of the year when we had the big run-up in the 10-year yield. any day we crack 2%. we didn't crack it. you've taken pretty well. we've come off pretty big this time. can you say now is the bias is the upside, backfilling, back and filling? do you think the upside is to the upside firmly on the 10-year yield and if so what is message
behind that. >> it is clear, 66% of futures market says we'll raise fed funds rate next year. they finally got it. they listened to gary. nomination of powell is a big. 1.58 before year-end. this is it. fixed durr h income duration short. resist higher interest rates. coming here, now, this way through mid next summer if not into the fall. as inflation winds up not all of it. you have to prepare the portfolio for higher move in rates. charles: a lot of economic data out this morning. most of it was hopeful. business investment up .6. jobless claims the lowest level in 50 years. what really strikes me after five trillion dollars plus of fiscal aid, real income is 1.3% below trend and that trend is only 1.8%. phil, i got to tell you, makes me think next year for all the
talk what the fed will do, tapering, rate hikes, how come no one is talking about a major economic hiccup? five trillion dollars we can't move the needle on wages? >> the reason why is, the excited about going back to full employment but you're going to be really upset watching gdp growth go from 6% to 2. even with all the money coming in, disposable income is not running higher than rate of inflation. look at corporate profits. best we've seen in our life time. you're supported next year but get a new normal of slower growth. charles: gary, of course i will leave you with the last word. reminds me of the t-shirts, i went to sew and so all i got? you know those t-shirts. we spent 5 trillion plus all we got wages barely didn't even keep up with inflation. what is the story there? what is the moral of the story? >> well, my world by the way you got buptkus. all i can say, big worry is the
words pend-up and spent-up. all of this coming out of the virus. i will be traveling today. i know at the airports. i'm worried about a lot of spending and then the big slowdown next year and that is to be watched closely. then the sheer insanity of what we're maring from some of the people out of this administration where i think their preamble, we the government, not we the people and i just don't think at the get it. i think that is going to come home to roost next year also. so watch closely. charles: gentlemen, both of you, have a fantastic thanksgiving. always great. the viewers love it that they can pick your brains. help us make money. see you later. retail stocks meantime cooling off as troubles mount from all angles. one of my favorite analysts, kristen bentz warned us what we saw in the last two days would happen. what will happen next? president biden making the big strategic reserve oil announcement yesterday. i don't know what is more disturbing honestly, how much it
will help china or the fact that our energy secretary does not know or didn't know how much energy this country uses on any given day. we'll tell you. that's next. ♪ i've spent centuries evolving with the world. that's the nature of being the economy. observing investors choose assets to balance risk and reward. with one element securing portfolios, time after time. gold. agile and liquid. a proven protector. an ever-evolving enabler of bold decisions. an asset more relevant than ever before. gold. your strategic advantage. [engine humming]
charles: the white house facing a barrage of criticism after president biden announced plans to release 50 million barrels from our strategic oil reserve. most experts saying it won't move the needle much on gas prices not to mention the big winner is china. edward lawrence at white house on biden's ban aid. reporter: charles, very interesting that the same day u.s. announced they're releasing 50 million barrels from the strategic oil reserve the u.s. energy secretary could not say how many barrels the u.s. cone assumes each day. >> how many barrels of oil does the u.s. consume per day. >> i don't have that number in front of me. reporter: does not have that number. a quick search on line the energy information administration saying we consume a little more than 18 million barrels of oil in
2020. that is the lowest annual consumption since 1995. if you look at the announcement from the u.s., 32 million barrels will be replaced. 18 million barrels will were scheduled to be released next year. that is pulled into this year. amounts to 2.47 days of supply for the u.s. the biden touted they coordinated announcement with five other countries, united kingdom releasing 1.5 million barrels, india, 5 million barrels. south korea and japan agreed to release unspecified oil. chinese foreign ministry will release oil but based on its own needs. traders say they won't have much of an impact if at all. "wall street journal" saying in response to all of this the major producers in saudi arabia as well as russia are now thinking about pulling back the increase that they had agreed to previously. they would not be further constraining the supply of oil around the world.
back to you, charles. charles: thank you very much, edward. the secretary of energy doesn't really know how much the nation uses it is fair the mission is to promote the alternative to fossil fuels but the administration is making big mistakes on messaging. not the only mistake dealing with the higher inflation crisis. american action forum douglas holtz eakin. i loved your piece. give the audience. >> thank you, charles. number one as you went through in great detail tapping the strategic petroleum reserve will not do anything to oil prices not less than gasoline prices. number two they asked the ftc to look in behavior of the oil companies about mark crumbs. we've seen this movie before. never anything is found it. doesn't move gas prices at all. number three energy products as a whole are only 7% of the
average household budget. they're is a lot of inflation out there, even if all this works perfectly it wouldn't touch 5 1/2% annual inflation in non-food, non-energy cpi. so these are messaging exercises by and large. they will not move the inflation needle. charles: one thing i really stressed with our guests, i'm a solutions oriented person. everyone can complain. i love you, you have solutions even if i don't always agree with them. i will lay out what you wrote at the end of your piece. you say the reality inflation can be controlled quickly but only raise being taxes on the broad middle class, shutting off the monetary spying got, otherwise knocking down demand but at risk of recession. we of course none of those things are going to happen. so does that mean inflation is here to stay? >> certainly means it is not going away quickly. you heard the notion that inflation is transitory, as soon as we get the supply chain figured out it will be all fine. there is an enormous amount of demand out there.
the monetary authority and the fiscal authority have pushed it even more. there is 2 1/2 trillion dollars of previous fiscal stimulus saved. consumers are waiting to spend that. for the foreseeable future unless you lean against that you have inflation pressures. that is what we'll see next year. charles: doug, less than a minute. let me squeeze this in. there are rumblings out there deflation being a real issue. some folks say the supply issues, some supply chain things may get fixed quicker, fiscal spending will go away next year. how realistic, is that something that can creep up on us? >> i heard had argument. i don't buy it. the numbers don't add up. you have to reverse course on goods price inflation we've seen and you have to believe that 2 1/2 trillion dollars stays in the bank. seems unlikely that will happen. we'll not get a fiscal retrendment because the fiscal policy is carried into next year. i don't see us getting rid of
goods price inflation that quickly. charles: douglas, have a great thanksgiving. i love when your work comes in my in box. >> thank you. charles: see you soon. jamie dimon bending over backwards to apologize for a joke he made about china. so when will business leaders take a stand? i think you know the answer to that retail a lot of red ahead of friday with inflation looting inventory problems. what is in store for this industry? we have one of the best. she will help us out. ♪.
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extending a rough week for brick-and-mortar retailers. my next guest told us this would happen. kb advisors group kristen bentz. even as they made huge moves off the october lows. you took profits off your own names. is this what you expected? is this what you feared? >> it is what i feared, now all the hens are coming home to roost with the supply chain. now as you go over all the earnings reports they talk about it now and they are getting hit and it will be much worse in january and february. i hate to be the harbinger of bad news but at least you knew it before it happened. charles: here is what is bugging me though. the consumer side of it. the supply side gets worked out but i'm looking at demand side. i look at consumer savings. these numbers are evaporating. all the excess savings are going pretty quickly. that should help the job market out. a lot of folks will start to go back to work but what does it mean for retail.
at least finding winners in the retail sector more elect tiff? >> it is extremely darwinian, charles. headwinds on top after supply chain issue. i think it will be much more difficult to pick winners as you said. we saw what happened with gap, nordstrom. these companies are struggling. we looked for a while they were actually winning an doing well. no one is impervious to the issues as well. charles: everyone has seen the images of smash and grab. one issue came up in the reports. looting around the country. i have to admit, i would never saw i would see organized looting as pervasive as it is, on a earnings report call. best buy brought it up there with supply chains. how does that change the dynamics when you try to find winners in the space? >> well it is hard enough right now to maintain and retain employees, especially in the retail sector. you have something like this. so you have these, front line
retail employees that are having to handle mask mandates and wrestling with people and getting candles thrown at their heads and managing all these social issues. on top of it they're fearing for their lives because, you know, getting robbed in broad daylight. charles: right. >> almost like retail can't get a break, you know what i'm saying? charles: is it a break, would it be a smart move, lou very -- louis vuitton will stop social media marketing it made it a favorite of among tiktok because of looting. is that a good idea? >> that is a very french thing to say we'll not do any social media. doesn't matter. louis vuitton's brand why identity supersedes any social media out there. i don't care if billie eilish is out there. they will like a herm mess bag, cartier, they covet it, they
will steal it. charles: 30 seconds for only blemish. sticking with peloton. it is getting hammered pretty good. are you staying with it? >> here's the thing, last time we were on we were talking with hitha, she was excited with peloton. i thought it was a stupid idea to bring down the bike prices. charles: right. >> you had cult following like apple, lululemon that was ill-advised. this would be a buy at 42. it is kicked to the curb. i six months or more but they're making mistake after mistake with the brand. charles: they certainly are. i tip my hat. you warned us. well, we were warned. have a great thanksgiving. >> thank you very much. charles: all three men charged with the killing of you a maude ahmaud arbery, guilty. they were all three found guilty in the fatal shooting.
sentence something expected to come in a few weeks. i would like to bring in fox news contributor deneen borelli. deneen, we had you built on something else that fed into the conversation with kristin. this is breaking news. i want your thoughts. i want to go broader, because over the last month, not only have we had this trial, the rittenhouse trial, some other things come up. feels like our criminal justice system has been on trial. by the way it has been found guilty by the left. what are your thoughts? >> well unfortunately what we've been seeing lately, charles, is trial by the liberal left-wing media and to hell with whatever the evidence happens to be, whether it is what happened in georgia this ruling, this decision or what happened with rittenhouse in wisconsin. we've had the liberal media inject race in all aspects and with the rittenhouse case, nothing to do about race but somehow, some way the liberal
media managed to interject race and if that is the only place you were getting your news, that is all you know. charles: yeah. when i look at even the verdicts that came out just now, travis mcmichael guilty on all nine counts. his father guilty on eight of nine. bryant guilty on six of nine, it is obvious that the jury thought all of this through to have this sort of a nuanced outcome. you could say the same for the rittenhouse jury. and so you know, we need a system where the citizens, you know, buy into it. they want to participate. how much damage do you think it happening, just when you hear either something like this or you know, hey, we had rashida tlaib saying we should empty all federal prisons the next 10 years, how much damage is being done? because we all have to believe in the system to a certain degree, don't we? >> we're a country of laws, not men. these politicians who are out there spewing their hatred and
disregard for our laws and for our liberties is just absolutely outrageous. will they be held accountable? no. what they are doing is whipping up the mob, charles, no matter what this out come is, we'll see what happens today. i have no idea. i hope people will not be out there rioting. people are primed, mad about any and everything. i'm talking about the mob. so we have people going out in the streets taking matters into their own hands where in fact they should be looking at the evidence and let the juries decide because each instance is an individual situation and circumstance. charles: just 30 seconds though, another small piece of this though that i think is just as important, you have someone out on bail for $1000 with a track record longer than my arm of harming other people. you know, and so there are areas that we certainly i think, need to look into and to address with respect to this criminal justice
system. >> well, it is these radicals who are in charge on the local level, charles. that is what needs to be looked into. it doesn't really need a rocket scientist to figure it out. they are are part of the problem. they are putting americans, innocent americans in harm's way. we see that what happened with the poor people who were run over by a car, out there enjoying life, innocent americans and it is just really outrageous. charles: really is. deneen, thank you very much. i do want to say my heart goes out to the arbery family. i hope they find closure in this. we'll be right back to talk about the fed minutes. os based n our forward-looking views of the market. (other money manager) but you still sell investments that generate high commissions, right? (judith) no, we don't sell commission products. we're a fiduciary, obligated to act in our client's best interest. (other money manager) so when do you make more money?
only when your clients make more money? (judith) yep, we do better when our clients do better. at fisher investments we're clearly different. (vo) the more we do with our phones, the more network quality and reliability matter. and only verizon has been the most awarded for network quality 27 times in a row. that means the best experience with calls, texts and data usage of any major carrier, according to customers. there's only one best network. the only one ranked #1 in reliability 16 times in a row. we are building 5g right.
♪ ♪ remember when no dream was too big? ♪ ♪ and you could fearlessly face the unknown. (kids playing) you still can. ♪ ♪ (blowing dust) when you have a rock you can depend on for life, you'll be unstoppable. that's why over 5,500 companies rely on prudential's retirement and workplace benefits. who's your rock? ♪. charles: breaking right now investor digesting the minutes from the last federal reserve meeting. i want to go back to washington, d.c., to edward lawrence with the highlights. i saw it, we gave up a little bit of ground when these minutes
came out, edward. reporter: it is very interesting, and one of the things we looked at that really jumped out to me, talking about increasing tapering, a number of participants talking about increasing rate of tapering possibly more than 15 billion a month because inflation is much higher than they thought. cpi inflation came out or pce inflation came out at 5% so far as of right now. core as you see, 4.1%. the fed thought that pce inflation would end at 4.2% this year. so they are saying that the fed might cut buying of treasurys and more than 15 billion per month to try to shorten the tapering timeline. a lot of discussion about that, to get ahead of inflation. on inflation participants are saying that it could take longer than previously thought to subside saying that the discussion and the inflation factors are largely transitory but again taking much longer
into next year to subside. now the discussion of this all economic activity likely to pick up in the fourth quarter as cases of the coronavirus in the u.s. are coming down and vaccinations increase. they did acknowledge the delta variant there was a shift in consumer demand services was slowed because of the delta variant, therefore stretching out the full opening of the economy. charles. charles: edward lawrence thank you very much. now the doves are throwing the towel on tapering. that may mean we could get rate hikes sooner rather than later. that is narrative going through the street. i want to ask laffer tengler nancy tengler about this. i'm on record saying no rate hikes next year. the street is looking three rate hikes. feels like the fed is getting on boar more and more. what do you see? >> happy thanksgiving, charles. these minutes did not surprise me at all.
we didn't know very much. the fed already told us they would reduce or taper by 15 billion. i want your listeners to understand and your viewers too, this is still expansionary. the balance sheet will expand by 400 billion during the assumed tapering period. we're already at 8.5 trillion, double 2 1/2, 2020 balance sheet levels. we're still very liquid. there is a lot of money sloshing around. now you're starting to hear some members come out to say well we probably should take a look at rate hikes. we probably should accelerate tapering. i don't even understand why we're still buying mortgage-backed securities with the housing market so hot. this is the result of an inflation policy that looks backward at the data, that is not anticipatory. that university of michigan sentiment is sluggish, inflation expect takes are still high, pec core is at four 1/2. this is, it is time now. people are returning to work as you saw in the jobless claims.
so could be seasonally -- charles: i think that is a fantastic point. tapering still means they're buying a whole lot of stuff, a lot of it, certainly could argue not even necessary. hey, i know you like the megacap growth names so how concerned are you as these rates go higher they could sort of stumble a little bit here? >> i think that would be an opportunity for investors charles, because, there is two reasons to own technology stocks. one is they are an important part of the secular narrative that will get us out of this inflationary upward spiral. the cloud names, the seminames, all of these things improve productivity and that is the only way that wage growth can get ahead of inflation. i heard a bunch of people on the air earlier today on a different network touting the fact that wages are up but they're negative. on a real basis, on after inflation basis consumers are farther behind, further behind than when we started. so i think that technology is the solution to a lot of this.
the earnings growth is spectacular. we'll see decelerating growth next year. so you want to own names producing growth and the multiples while healthy are not stretched. charles: right. >> not growth at any price. growth at reasonable price. last thing i say, rise interest rate environments have not necessarily been negative for tech stocks. in fact about five of the last instances, they actually outperformed every other group. charles: i'm glad you brought that up. you know what? people have to pull up a chart beyond 2021. they don't go hand in and all the time. before i let you go, i'm not sure if you were watching if they showed on the other network, this morning spacex launched a double asteroid redirect test, called dart. a mission for nasa. they want to collide with an asteroid. this will happen in 10 months. my question to you, what will happen first the dart crash or 20% pull back in the s&p? >> you are priceless, charles. i think we're probably going to get a pullback in the s&p. i don't know if it is 20 percent but i think it would be healthy
f you're worried about it, hedge the portfolio a little. we buy puts on sb y for clients. every now and then we buy calls on vix. that is how i would handle it. i would not get out. you don't want to be sailing out of stocks at this point. still best in town. charles: you're the best, nancy. happy thanksgiving. >> you too. charles: nancy was one of my special guests for my new revolution investor town hall. we had a blast. airs this friday, 2:00 p.m. eastern. tune in. they love it. they're stopping in me in department stores and on the street everywhere. people loved it. could have -- covid cases are spurring new lockdowns. that is spurring anxiety here at home. i will ask dr. mark marc siegel what is next. i will talk pandemic investing to talked about what to invest about delta before our market tripped over delta.
she is on the show. we'll be right back. [gaming sounds] [gaming sounds] [gaming sounds] just think, he'll be driving for real soon. every new chevy equinox comes standard with chevy safety assist, including automatic emergency braking. find new peace of mind. find new roads. chevrolet. ♪♪ find new roads. it starts with a mother's determination to treat her baby's eczema. and grows into a family business that helps thousands more. it starts with an army vet's dream of studying the stars. and grows into a new career as an astrophysicist.
charles: we have sew much to be thankful forgiven where the nation, the world was a year ago. covid-19 scourge will not go away. from the very beginning let's face it, some said we would have to learn to live with the virus, dealing with occasional spikes. we hope the government will allow us to do that rather than taking draconian actions that destroyed freedoms, destroyed our mental health and really destroyed the economy. joining us now fox news medical contributor dr. marc siegel. doc, as the u.s. lockdowns decrease there were spikes. there were correlation between lockdowns, easing up, hospitalizations spiking but both are trending lower. it seems like we're finding a way now to live with the virus? your thoughts on that? >> charles, that is very well-framed and good afternoon, and i think it has to do with really, really understanding the science. lockdowns themselves are problematic. not only do they cause
tremendous damage, psychological, economic damage, delay of health treatments non-covid, at the same time there is no evidence that they really work. you're locking down people together especially in poor areas. they don't have a way to get out. they may spread it in the buildings they live in. germany is a great example of that. they're doing it a different way, doing incentive-based way you might like. changing the two gs to the three gs. what are the gs? you've been vaccinated. two is you were recently infected. we're not doing that in the united states. we're ignoring recent infection and immunity it provides. that is a mistake but the third g is testing, we have not done that well. in other words, keep businesses open. keep restaurants open. keep the malls open. keep the gyms open, say to somebody if there is a public health risk i want to see that you have had a home test, a free test, something that somebody provides. that's the 3gs but germany may
go way worse than that, start locking down that would be a mistake. charles: to that point though, just three, four hours ago the new coalition government rejected angela merkel's plea, really pleading with them to lock down the country. this is the day after health official there said something that really shock ad whole lot of people, quote, probably by the end of this winter pretty much everyone in germany will be vaccinated kurd or dead. it is a pretty crude statement but is there some truth to that? >> i think they should have stopped at infected. there is truth to that, yes, charles, but when they start adding the word dead, that is the fear-mongering term. for the vast majority of people this is a mild virus but i want to add, the long term side-effects loss of smell or loss of taste or confusion, brain fog, all of that is a reason to get vaccinated. you have got to talk to people and not scare them because then they rebel and react against something they think is a political statement. charles: real quick, doc, less
than a minute to go. i'm hearing about treatments. i'm hearing opinions are changing on natural immunity. monoclonal antibodies. how hopeful are you that we'll learn scientifically deal with this in a better way as well? >> hugely hopeful. hopeful, since i made the point about testing. here is the future, charles. you have got a home test kit. you turn positive even before you knew it. you have an anti-viral like the pfizer or merck drug or monoclonal antibody. take it right away. stay out of the hospital. before any of this you're vaccinated. that is the path forward. that will make this a virus to live with. that will make sitting almost all of the cases are mild. we're close to that if people would comply. charles: right. >> new anti-viral is very exciting. charles: dr. siegel, have a great thanksgiving. >> you too, charles. charles: get back to the missus. bring in the cio of wheelhouse, ann berry. i want to give you props right
off the bat, first time on the show, i had been talking about a delta variant last three or four-days. not a single market person said it was a big deal. everyone missed it out of hand. you said be careful. we're seeing spikes in germany. seeing spikes in the netherlands. should we be concerned? is sometime to make moves in our portfolio on the assumption it will come here? >> i think we should be concerned. i hate to be the canary in the mine again. the reason when i say this, i watch the news globally the u.s. consistently about four to six weeks behind what has been going on in europe and asia when it comes to the spread of new covid variants and the impact it had on labor availability and mask mandates and shutdowns. as you just said, germany debating what to do. austria already locked down. uk is seeing another spike in covid cases. the u.s. opened up its border fairly freely to travelers vaccinated. we know there are break through
cases. charles, i am concerned. when i think about the portfolio i think the travel is going to be in for a bit of a rough ride. people will travel through the thanksgiving season. i think there will be continue to be a spike in covid cases in the u.s. through the holiday season. i think we'll see airlines, hotels, cruise lines really feel the impact in their share price when we see the numbers come and filter through as they have pretty consistently through the crisis. charles: also doesn't even, really, covid we find out today doesn't have to be a major deal in america anymore per se. all the retailers got slammed because what is happening in vietnam. would that make you have a more domestic tilt? we connect the dots and ultimately you need supplies from overseas, your product comes from overseas, does that mean more vulnerability to your port fell? >> i think so but i do think we'll talk retail, charles. i look for example, walmart which is the biggest domestic retailer. as a result of its scale has
been able to insulate itself from the worst of some of the impact of the supply chain shortages and inflationary pressures relative to some other domestic retailers. they have been taking share. i am nervous, but there are glimmers of hope. size and scale the ability to absorb shock is one of things i'm looking for to put my money. charles: you like paypal. i'm in paypal. i got in a little early. i thought i was buying the got there. what is going on? why are payment stocks getting slammed all of a sudden. they looked oversold. >> i just added to my paypal portfolio. my original position is a little underwater. i gone in added a bit more of a 8% decline in the stock price roughly over the last week or so i think paypal is suffering the buy now pay later memes calling into question whether paypals of the world are innovating quickly enough to keep up with the new trends in fintech. i'm still a believer.
you have 52 venmo users for young adopters. they want global growth. i added value recently. charles: everyone got so nervous talking about kicking the tires of pinterest. was it pinterest? maybe they would overpay for pinterest maybe there is something wrong with the company. they're trying to get over that. ann, have a good thanksgiving. we'll talk to you again hopefully very soon. >> thank you, charles. charles: wall street superstar cathie wood says inflation will pass. now pointing to a key metric she thinks will actually help prices keep staying higher but it is really her fund i want to talk about. it is coming under fire. the haters are making their move. is it sometime to make sure? we'll be right back.
charles: the market is holding up pretty good, the nasdaq showing some spunk which is a reminder one of the most impactful approaches to this market has been by the dip. maybe the only thing better you know how to sell the representative at the right time that's the approach of my next guest michelle snyder. i want to get your thoughts in general the market there has been a lot of carnage beneath
the surface. a lot of stocks 52 week lows here we are a pretty good amount of spunk already. >> so many mixed factors one is the market is generally overreacting to the nomination thinking that's it rates are going up. ever heard people say this year he knows he's not coming back so he may get more aggressive. i don't think that's happening and we can see yields are down on the long bonds. we have to watch those, there we still have risks on that. technically small-cap has a 50 day moving average support. this day black friday will be a big influence in exceed expectations that'll be a positive. if not i think we'll see the worst case in the transportation sector which right now is my biggest concern because it's underperforming the s&p 500. pick your spots carefully, by dips but if you get a good rally
probably not unwise to sell into those rallies. charles: many of these hot names that have been sizzling going at the last year are under some pressure. the innovative names, her success is attracting a lot of haters and a lot of people are saying she's lost money for investors and she's made i'm not sure how anybody would know that. also an anti-fund out as well, you admire her work, what are your thoughts, they are supposed to be long-term names but they are judged minute to minute right now. >> she is a long-term investor, she is not a trader like i am or you are. she's not worried about that she is looking out for disruptive technology which we agree on is the future. the question is timing. i was thinking about this and having a little fun thinking
back in the day the jetsons and how they predicted the future of lasers and scanners and videophones and automation but they were 20 or 40 years too soon. she short of like that she has real money on the lighted real companies which is this point we don't know, most are staying in business but that does not mean her timing is off on everything. a spotlight talent could be bottoming she is five or ten years away, so efficient that it gets rid of inflation. charles: i want to talk to you about something economic i have less than a minute. jamie dimon ceo of j.p. morgan is talking a little smack yesterday saying his firm would outlast the communist party in china. apparently he had to walk those back this morning it's humiliating but it speaks to how intertwined our economy is with china. are you concerned about that.
>> i'm certainly concerned that we have not gotten any clear idea about where were gonna stand with china and the trade worse obviously there's a lot of misinformation. jamie dimon said a lot of things this year that he rolled back. charles: let's leave it there. have a great thanksgiving, folks at home have a great thanksgiving. now over the liz claman. liz: are you a pumpkin pie or apple pie. charles: i am a apple pie every day except thanksgiving. liz: happy thanksgiving. the bull is making a last-minute charge on the final trainee day of the holiday week. the nasdaq in positive territory after real chalk turned negative with the federal reserve minutes from the most recent meeting says the