on the list and makes news today, dan loeb, barry diller, ken griffin and elon musk. that's a musk shot right there. oil in the usa, watch out saudi arabia the u.s. is expected to overtake you in oil production faster than anyone thought. so what? so a lot. from pump prices falling to jobs to politics, full coverage of th

that's dan loeb backstage. a nice little look behind the scenes of what is truly an amazing conference. i don't know if you've seen the guest list, barry diller, senator carl levin, we're about to hear from dan loeb and later on a view from private equity, david reubenstein, david bonderman. the list goes on and on. >> and i think citadel's ken griffin, elon musk closing bell as well. >> elon musk 4:00 to 4:20, talking about tesla on a very busy week. no one can deliver the goods the way sorkin can. here's andrew ross sorkin with third point's dan loeb. >> as many of you in this room know, dan has been in the news a lot lately and has made a lot of headlines in the world of activism, whether it be going after companies like sony or sotheby as or invariably the discussion goes to yahoo!. i want to start here, dan. activism, just the concept of activism. is activism a good thing for society, a bad thing for society? the reason i ask is there's invariably a question about the short-term nature of some activist eff

and wells fargo getting a nice pop after dan loeb here on cnbc revealed his stake in that company. we'll look inside his portfolio and find out what else he owns. that and much more on "the half." [ bagpipes and drums playing over ] [ music transitions to rock ] make it happen with the all-new fidelity active trader pro. it's one more innovative reason

. >> and dan loeb is speaking out. we'll hear from him live in about half an hour. first up, though, ray dalio, founder of bridgewater associates, one of the largest head funds spoke at the deal broker's conference in new york. our kay kelly has highlights. >> reporter: good morning from the deal book conference you mentioned. we just came off from hearing from ray dalio, a guy who really likes to talk academics and how the market works. he gave andrew sorkin a flavor of his recent paper he wrote, which is published on economicprinciples.org. he believes that for the next decade or so equities are going to have about a 4% return, not bad, better than cash, still not terrific, though. he also thinks given all the

♪ >>> what did uber investors dan loeb and george soros have in common other than bank balances? both in billionaires club and have invested in economically sensitive fedex. loeb adding 2 million shares and soros adding $1.52 million shares. >> joining us is larry mcdonald and carol roth to talk about it. >> good to see you. >> thanks for joining us. you came back from the big hedge fund conference. i want to ask you about that. i know you have good observations about that. first, what do you think this bet is on, george soros and dan loeb buying into fed ex. >> keep in mind when you see s.e.c. filings on ownership positions, these are probably bets that were made, purchases that were made during the depths of the debt ceiling selloff, right? if you look at fedex, it's up 25%, 25% from the debt ceiling selloff. exxonmobil up 20% from the debt ceiling selloff. you have to be careful. >> in terms of putting money into it now. >> presumably, carol, this would be something of a bet on the global economy, knowing how sensitive a company like fedex is to the strength of the global econ

. >>> shares of fedex got a nice pop yesterday after dan loeb revealed his stake in the company. so should you follow along? we have both sides of the debate after the break. >>> and mr. loeb making another bullish call yesterday. >> we remain very bullish on japan. >> well, barclays jim mccormick agrees and he has five reasons why he thinks you should stick with the japan trade. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim from td ameritrade. the ocean gets warmer. the peruvian anchovy harvest suffers. it raises the price of fishmeal, cattle feed and beef. bny mellon turns insights like these into powerful investment strategies. for a university endowment. it funds a marine biologist... who studies the peruvian anchovy. invested in the world. bny mellon. >>> all right. welcome back, shares of fedex got a big boost when third point's dan loeb

. >>> activist investor dan loeb is making another big bet on a japanese firm with u.s. ties. his hedge fund revealed it has a $1 billion stake in softbank and that send the japanese telecom shares up to a 13-year high. he met recently with the softbank chief executive but says he didn't propose changes. softbank recently took control of sprint in the u.s. for $22 billion. loeb says it's the company's big stakes that are most attractive. so, mario draghi's been warning investors not to incur anything from his speeches in berlin thursday and frankfurt today about the possible deduction of negative deposit rates. rumors continue to swirl that the ecb president is considering reducing the rate for lenders. the euro fell yesterday on reports, but jeff has spoken to one central bank who's not sure the policy would actually have the desired impact. and he joins us from a rather chilly warsaw once again. hi, jeff. >> reporter: yeah, good morning, ross. you know what? here in poland, they do have the luxury of not having to pursue unconventional monetary measures. the base rate here o

so warren buffett, carl icahn, dan loeb. >> carl icahn is a long-term investor? some would say whoa -- he is sometimes, but not always. >> for example, in apple, right? he will take in more than a quarter, more than a day to do what he wants to do. and the same thing with dan loeb. he went into yahoo! put marissa mayer on the company. so that takes a few months, and i think regular investors can definitely benefit by having the index they can easily track. >> ticker's billion? >> the ticker is billion, yes. and people can look it up on google finance. >> what do you do when dan loeb shorts wells fargo and warren buffett long it? >> that's another thing. we're only looking at 30 large-cap companies. we didn't want to compare with the s&p 500. we knew that we're not looking at everything, but we're looking at the most important companies. >> right. and also no way to reflect a series of preferreds or convertibles that some of the guys actually get their hands on? >> exactly. we're trying to beat the s&p 500, and we're looking at the top 30 companies. i will do that

loeb. >> when you heard that dan loeb wanted to meet you and made an investment in your company what did you say? what is going to happen next? >> we said it was great. we meet with shareholders all the time. so there wasn't anything unusual about that. and dan loeb asked if he could come down and bring a couple of analysts. they bought some shares and it was a lot of fun. they are very smart people. >> he said that you disabused him of some notions. what notions are those? >> i think what dan does, he's very analytical. he's always looking for an opportunity, an undervalued company and clearly in some cases he thinks they are undervalued because the management didn't do the right thing. so they analyze companies and try to find upside opportunities and they came down and had some ideas and some of the understanding that they had about the business -- this is a very complex business. we're a little off the mark. but i think the fundamental issue was they recognized the course that we set a year ago in october at our analyst meeting where we were executing on it and we were flattered

on the list and makes news today, dan loeb, barry diller, ken griffin and elon musk. that's a musk shot right there. oil in the usa, watch out saudi arabia the u.s. is expected to overtake you in oil production faster than anyone thought. so what? so a lot. from pump prices falling to jobs to politics, full coverage of that ahead. >>> a half a billion dollars of very special art up for grabs tonight at christie's. this is one of the pieces on the block. it is warhol's black and white classic coca-cola bottle. we'll take you inside the world of the auction. first to sue at the nyse. >> hi, ty. good to see you. we have big names in the airline sector that's moving the transports as well which are up about 30 points on the day. here's dom with the details. hey. >> thanks, sue. we're finally going to see a merger between amr and u.s. airways going to create the biggest airline. the two carriers said they reached an agreement with the justice department as well as state attorneys general to allow a deal to happen. u.s. airways stock turned negative after being halted on th

and dan loeb revealed earlier this week he's investing in fedex. a piling shows the stake in the package delivery giant was worth $270 million. they took stakes in activision and nokia. he slashed his stakes in procter & gamble by 76%. joining us with hesitais wrap u the week, todd horwitz. always good fun to see what these people have been buying. do you think it influences us? >> good morning, ross. you know, it certainly has an influence on the retail investor. i don't know if it has a real influence on professional traders, but certainly on the retail investor. if warren buffett is buying something, a lot of the guys on the street want to be in the same position that warren buffett is in. >> fresh record closer for the dow and the s&p again last night. 37 record closer for the dow. is this what's going to happen now to the end of the year, todd? >> you know, listen, we're in bubble territory. but you certainly can't get in the way. the market has higher closes on a regular basis. at some point, cooler heads are going to be veil and there's goin

. >>> coming up, the girl scouts have a message for dan loeb, the fake dan loeb. we'll tell you what that story is about. and next hour, michael dell will be joining us to talk about everything from taking his company private to his outlook for technology. it will be an interesting conversation. we're coming right back in just a moment. opportunities aren't 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. >>> welcome back, everyone. on today's agenda, we are waiting for quarterly results for jcpenney and deere before the bell. we heard from lowes this hour. lowes came in a penny shy from expectations. qualcomm is holding its annual shareholder meeting today. analysts say they'll be paying attention for the insights on the smartphones, the american market, the emerging market demand at the low end. aaa is going to unveil its thanksgiving travel forecast. that will include information on h

what dan loeb does when he tries to take over corporations. and so we said we want pension funds to know if you in your side job or side business are actually trying to kill pension funds. and so i asked him, i said clarify your position. do you, if you're actually soliciting business from defined benefit plans and actually trying to say you can make them a lot of money, make sure you also disclose that the boards that you sit on want to actually kill those same plans. that's all we said to him and he had trouble with being transparent. >> you might -- if de blasio begged you, would you do it, randi? richard johnson says you want it. >> oh, stop. richard johnson, i mean that -- this is what i love about the "new york post," everything in that story was made up. >> like the two bagmen -- >> i woke up to that story and i'm like there is nothing in this story that is correct. >> we're going to keep this tape. >> thank you. >> randi weingarten, thank you very much. >> richard, we went to school together. >> we were in the same kindergarten class.

because you've got dan loeb recusing his shares in yahoo! and then chase coleman take an 8 million share. some big names, big trades in names we all know about that's what's huge about this particular season. >> thanks. up next the president's handling of the obama care crisis. did he unfairly dump it on the insurance companies? is he leading the correct way? is he contrite enough? we'll have some famous ceo apologies next. and how did kentucky get it right and the feds get it so wrong? the governor of kentucky is here in two minutes time. >>> senator howard baker said it best in the watergate hearings back in 1973 asking quote, what did the president know and when deknow it. same question is float around the country these days as americans want to know what president obama knew regarding problems with healthercare.gov. today we got a little bit more clarity on that and here to tell us about that is don. >> what i got here is a memo released by one of the top house committees looking into this whole mess with healthercare.gov. they uncovered

we've quoted george clooney twice because we were talking about dan loeb. and george clooney said he's got stuck on the side of the road twice with his car so he got rid of it. >> that's not quite accurate. >> what i said or clooney? >> what you said. the clooney comment was a needless comment, needlessly reported. he made an offhand comment in an "esquire" article by tom girard, who for some reason doesn't love tesla, said his 2008 roadster broke down and so he sold it at a charity auction. that was in 2008. it's kind of like, you know, so that was five years ago that happened. it's not a model s. it's not even recent. it's not even news. i'm not sure why it was even reported. i mean, like saying, you know, my iphone 1 in 2001 had a bug. okay. >> let's talk a little -- you talked about the valuation of the company. you started to sell more vehicles in europe. >> yeah. >> less vehicles in the u.s., or because of this, less vehicles in the u.s. there have been some analysts and folks who speculated that maybe the demand in the united states right now has alr

loeb was in that ballroom down the hallway yesterday and said he has a stake in soft bank. mr. sasserdotes it for the alibaba play and mentioned amazon, he's a tech investor and said it's because of the cloud play. listen to what he had to say about amzn. >> amazon has the best management team in the world and any time they start to make profits, bezos has been able to find amazing new businesses to invest in. you have to peel back the onion to see what the core u.s. e-commerce business is earning. we think they're losing a huge amount in china depressing profits which makes the pe look high. >> he's up 41% this year, net of fees, and our next guest was nayhall chopra, up 34.6%. she was seated by the great legendary investor julien robinson. we talked about a number of her top picks. post, that was her best idea, the one she presented in the hallway again behind us here. saying that what was a low growth, sort of single category cereal maker, is broadening out and she likes its prospects going forward. >> the option because we focus on corporate change couldn't be better. t

i think you see dan loeb getting into greek bonds through a dedicated fund. this is not a new idea. it's something he's been doing for a while. i think people need to look at other -- commodities play, a -- >> a commodities mrashgs are you going there? >> we're seeing an easing of prices and a negative sentiment in terms of metals and -- >> it's a contrarian play because commodities are so hated right now, unless it's a bitcoin -- >> that's not a commodity. >> it's clearly a commodity. it's not a currency. it's gold 2.0. to kate's point, people are looking for alternatives and the fact commodities might be on the backburner. bitcoin, can you call it ridiculous, whatever you want, but clearly there's something going on -- >> that's exactly what you want because it will be undervalued and you might get in at the right entry level and see a nice upcycle. >> at some point -- not unlike the stock market this bitcoin can only imbed, at some point, this will be the future. i think we're a few iterations away from that. >> kel y have i to tell you something. out here in the midwest, we're n

>> sounds like the latest get rich scheme, invest like warren buffett, carl icahn and dan loeb and get rich too. crazy right? we'll show you a chart that may just change your mind coming up after the break. get paid to do somethingpled you really love, what would you do?" ♪ [ woman ] i'd be a writer. [ man ] i'd be a baker. [ woman ] i wanna be a pie maker. [ man ] i wanna be a pilot. [ woman ] i'd be an architect. what if i told you someone could pay you and what if that person were you? ♪ when you think about it, isn't that what retirement should be, paying ourselves to do what we love? ♪ but with less energy, moodiness, and a low sex drive,y first. i saw my doctor. a blood test showed it was low testosterone, not age. we talked about axiron. the only underarm low t treatment that can restore t levels to normal in about 2 weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women especially those who are or who may become pregnant and children should avoid contact where axiron is applied as unexpected signs of pubert

that's a big one, because you have dan loeb at third point, he took a 2 million stake, we know, in that company. and perry capital, perry boosts his position to 2.4 million shares, a big move in terms of fedex. our next whale trade, freeport, an oil and mining, copper and gold company, david tepper's appaloosa boosted his stake up to about 1.8 million shares. leon cooperman takes 2.8 million share in freepark, and we'll finish off with the last particular one, bruce berkowitz at fair home, he wants to buy the insurance, the mortgage bond insurance business of fannie mae, freddie mac. he wants to do it. and also, big ackman of pershing square, take as 10% stake in the common shares of both fannie mae and freddie mac. a lot of whales getting involved in a lot of big-name stocks. scott? >> these are, what, as of the end of september? >> these are september 30, yes, on a 45-day lag, but it gives us an idea of some of the themes. >> i bring that up, pete, because it would be seemingly well timed on the jcpenney trade. >> absolutely. >> for tepper and jana, barry rosenstein. the stock had sta

loeb the founder and manager of third point which is one of the best performing hedge funds this year. he let us in on a secret sauce in terms of his ongoing bullishness on japan and specifically the stock sony. he's had trouble with sony while the stock has gone way up this year some of his activist measures haven't played out as expected. at the same time he said he's still bullish that economy and the stock let's take a listen. >> we remain bullish on japan. we wouldn't have made the sony investment if we didn't support abe and everything that they're doing, you know, politically, economically and from a monetary standpoint. >> now, moving across a couple oceans over to europe, there's also been some talk today about europe and france in particular. you may recall on friday, s&p downgraded france's debt from aa plus i believe -- from aa to one notch lower, but now there's a debate running as to whether their debt payments are going to make them as risky as some of the peripheral countries in europe. we've heard some information today about that from ray of bridgewater associates as

loeb the hedge fund manager of third point. a true multistrategy fund, not only do long and short stock investing they also do structured products, macro bets, all sorts of things. they go active. we'll be taking that live. other key players who are going to be there tomorrow and i'll be bringing you highlights throughout the day, tesla's elon musk, barry diller, ray dalo from bridgewater associates. a lot of interesting color. >> interesting lineup. thank you very much. we'll be looking for it tomorrow. back to you, sue. >> thanks, ty. all right. flipping we know has been big in real estate but now it's popular in private jets. wealth editor robert frank is following the money as always, hey robert. >> billionaires are going crazy for the latest gulf stream jet, some paying $6 million above the retail price just to get one. we'll tell you who's buying, who's selling and why. coming up after the break. (vo) you are a business pro. maestro of project management. baron of the build-out. you need a permit... to be this awesome. an

dan loeb's calms for chanls for sony. my next guest prefers to call himself a friendly activist. bl blue harbour group's cliff robbins. >> great to be here. >> is there really such a thing as a friendly activist investor? >> there is. >> tell us about it. >> there are many ways to do activism. our way is friendly. that's the way we built our business. over nine years we've never sued a company or done a proxy contest. we approach management teams with ideas to unlock value. when we think they're synced up to want to work with us and are committed to do things to create value for stockholder, then we're backing them. >> what happens if you go in there, you're meeting with management. and you have ideas and they say, no. we're not going to do any of this. does it turn a little hostile at some point? >> no, it doesn't. >> you'll leave. >> we don't like to take no for an answer initially. we'll come back again. expose more ideas, spend more time, try to build a relationship president relationship. if we feel management isn't on board we'll move on. there are boards and ceos out there

this is not dan loeb buying it and staying for the long term and flipping it. stiritz is one of the great operators. i don't know what he's got cooking here burr it's not idle. >> it's always worth mentioning. that was an important change from a g to a d, going up in his stake. there is speculation again that mr. ackman will in another investment presentation at the end of this week come after herbalife again. >> is it the end of the quarter? >> no, it's not the end of the quarter. but it is worth keeping an eye open for herbalife. >> look up stiritz. google him. he's a very great investor. he hasn't lost his edge. >> that was in the 90s. >> it was when you were first looking at dex in the conference calls. >> that was the 80s. >> they didn't have dex. they didn't even have this internet thing when i started. >> they didn't, did they? >> no, i was on a typewriter. >> we called you hilly johnson. >> howard hawks, his girl friday, carey grant. >> hill green, often compared with you. >> i like that comparison, thank you. first time it will ever be made. >> john ga

yesterday, dan loeb -- what was the stock he mentioned? >> i don't know. >> they did, they did, they did. i'm going to tell you right this second. >> i saw einhorn liked micron. >>> dennis lockhart joins us up next. >>> and later, 'tis the season for celebration, we're going to talk about the beer business in a moment. on the need to fix our broken immigration system, there are signs both political parties in washington get it: washington is lagging behind the country on this... ...this issue has been around far too long... and yet, we wait. reforming our immigration system would dramatically reduce our nation's debt... grow the economy by 5.4% ... and take bold steps to secure our borders. on this, both parties say they agree: democrats... we are very very strongly in favor of moving immigration reform... and republicans... i wouldn't underestimate the house's ability to pass the immigration bill... and yet, we wait... americans are tired of empty rhetoric. it is time for every leader to come through on their promise... and fix our broken

also still to come, dan loeb has gone long on nokia. but is the company's decision to hang up on its mobile unit into the firm? we'll preview it after this. opportunities aren't 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. just by talking to a helmet. it grabbed the patient's record before we even picked him up. it found out the doctor we needed was at st. anne's. wiggle your toes. [ driver ] and it got his okay on treatment from miles away. it even pulled strings with the stoplights. my ambulance talks with smoke alarms and pilots and stadiums. but, of course, it's a good listener too. [ female announcer ] today cisco is connecting the internet of everything. so everything works like never before. >>> shareholders would be asked to approve the sales of the struggling group nokia to microsoft. joining us with his thoughts, james coalshaw from s&p capital i

loeb expressed bullish views in a krn cnbc you introo. come up, we'll bring thaw clip. in south korea, the kospi pulled back. >>> now, some of italy's biggest luxury brands report third quarter earnings. plus, we just got earnings out, as well. we'll get into that. welcome back. how is everything? there's nothing like being your own boss! and my customers are really liking your flat rate shipping. fedex one rate. really makes my life easier. maybe a promotion is in order. good news. i got a new title. and a raise? management couldn't make that happen. [ male announcer ] introducing fedex one rate. simple, flat rate shipping with the reliability of fedex. into third quarter net profits, 3.8 billion. slightly shy of the 3.87 billion we were expecting. stocks up 2.3% in carlsberg. third quarter operating profit down 4.5%. but it's also cut its outlook for growth in russia, despite sales, carlsberg has kept its revenue forecast for the year unchanged. mollor-maersk has raised fwi guidance. speaking on the phone, the former karlburg ceo said h

and dan loeb asked if he could come down and bring a couple of analysts. they bought some shares and it was a lot of fun. they're very smart people. >> a lot of fun, very smart people. but to what extent is this really about that group of people deciding that they're going to do something active in fedex? >> i mean, it doesn't appear -- listen, what i find these days in particular given activism has run rampant, you will get guys in stocks and then they try to encourage some of the bigger name activists to get involved. i think that was a potential here in fedex. i've been hearing the name a lot in activist circles. loeb got in there but apparently is not going to be active, is going to be passive and along with these other big names. but there is, jim, interestingly an activist case to be made here. it's when you look at the differences between fedex and how it's run and ups, its main competitor. many argue even who own the stock nfedex is very cheap but it's run as a plane company. they don't lease their planes, they own them. they have 280 planes in the

under pressure from dan loeb will will be, coincidentally andrew's guest. catch their conversation live on "squawk on the street" later this morning. >>> in other news this morning, it's reporting investigators are saying to be checking whether the s.e.c. complies with internal rules that prohibits trading shares of companies under investigations. >>> fewer homeowners are falling behind on their mortgage payments. the percentage of mortgage holders two months behind on their payments fell in the third quarter. the rate has been steadily improving over the last five quarters. >>> and walmart is the latest retailer to announce it's opening earlier on thanksgiving. black friday sales will start at 6:00 p.m. on thanksgiving day, two hours earlier than last year. the retailer is bringing back what it calls one hour guarantees. this year, they're expanding from three guaranteed items to 21 guaranteed items. that means if you're in line between 6:00 the and 7:00 p.m. on thanksgiving, you are guaranteed to get the boost buster item. years ago, there were people cru

among the headliners, dan loeb and many others. that starts tuesday, 6:00 a.m. eastern time. back in a moment. at farmers, we make you smarter about insurance. because what you don't know, can hurt you. what if you didn't know that posting your travel plans online may attract burglars? [woman] off to hawaii! what if you didn't know that as the price of gold rises, so should the coverage on your jewelry? [prospector] ahh! what if you didn't know that kitty litter can help you out of a slippery situation? the more you know, the better you can plan for what's ahead. talk to farmers and get smarter about your insurance. ♪ we are farmers bum - pa - dum, bum - bum - bum - bum♪ in a we believe outshining the competition tomorrow requires challenging your business inside and out today. at cognizant, we help forward-looking companies run better and run different - to give your customers every reason to keep looking for you. so if you're ready to see opportunities and see them through, we say: let's get to work. because the future belongs to those who challenge the present. they al

and dan loeb, and loeb and the board members all stepping down. that has moved well above where mr. loeb sold. yesterday you had adt, the spinoff from tyco security company, selling or buying a stake back from corvex. keithmeister, they had a board seat. they bought those shares back. did you look at adt yesterday? it was down 10%, it got crushed! and the latest is today, take 2 buy shares back from icahn. it's not particularly active, but the board stepping down, the whole bit. the trend starting to go around, is this the new green mail? i would argue, no, it's not like from the old pac man defense days where an activist such as mr. icahn would get involved in the stock and he would get taken out at a premium only for his shares and no one else would benefit. you're getting market price but you're enabling an investor to sell a large block of stock market, which would otherwise have to hit the market with, which could hurt the stock price when they're selling 8%, 9%, 10% of the company. i'm curious to hear what you think about it. >> people thought with the adt situation they they