tv Countdown to the Closing Bell With Liz Claman FOX Business October 21, 2015 3:00pm-4:01pm EDT
. trish: the future is today! october 21, 2015, the day all the characters from "back to the future" part 2 travel from 1982 to 2015. they have hoverboard, self-tying shoelace, we don't have so much of that today, they predicted flat-screen tv's and hands free gaming. got to give them that, liz. liz: doc, doc was my favorite character! thanks, trish, not even the speed of ferrari juicy enough to speed up the markets. the dow is up 32. that's about it for the green on the screen and the major indices, watching these markets because there are individual specific health care names weighing on the markets. we've got to talk about this, a lot of drama here. as we speak, the biden for president money is flowing somewhere else. vice president of the united states making a decision that will have major impact on the 2016 presidential race. joe biden says no.
i'm not running. in the rose garden flanked by his wife and president obama, the vp ended months and months of speculation by saying the window for his presidential run was now closed. the move did shock some in the political establishment but also clears a major obstacle to the democratic nomination for hillary clinton whose poll numbers actually increased dramatically when biden is not factored into the race. we've got one of the wealthiest friends and fund-raisers for biden, just got on the phone with us, where is his money going now? we'll ask him. biden's political news eclipsed the d.c. drama starring the man who ran as the republican vice presidential candidate in 2012, congressman paul ryan telling colleagues and the world he's willing to run for speaker of the house but with a bunch of asterisks and caveats piled on. the long list of demands and whether anybody on the republican side will bite?
former indiana democratic governor evan bayh and vermont governor jim douglas to make sense of the d.c. news and some is breaking out of the bernie sanders camp. we'll get that to you. can kerry solve it? the secretary of state about to meet with the leaders of israel and the palestinians. former israeli ambassador to the united nations dan gillerman back from israel, right here on our set, he's going to have the answer to that. ferrari isn't just the hot rod today, it's a hot stock. we take you to the noks for a look at that shiny blue ferrari and the ipo that's come with it. less than an hour to the closing bell. let's start the "countdown." there are a bunch of major stock headlines you need to know at this hour, both good and grievous that are moving the market. full throttle for ferrari but downgrading and downshifting,
the stock while up 8% had hit $60 a share on the first day of trade, right now trading at $56.26 look to the far left of the screen, as it opened, boom, skyrocketed to $60 a share, pulling back a bit. still up $4.20. valiant stock has taken a beating after being compared to enron on account of short selling firms citron. citron is alleging that the company faked sales numbers. let's talk about the little blue bird flailing like a blue whale twitter shares moving lower 4.5% after the company was downgraded at morgan stanley. more details on that, and no burrito bowl for you! the fiesta is over at the moment for chipotle. the stock falling 6.75% after missing street profit estimates posting slowing growth numbers but don't worry, they said, the pork is back, they figured out
the problem holding back the pork for the pork burrito bowl. that's the good part but the market is not listening to that. this is telling, coke is an afterthought. moving higher by barely a slight fraction is a dow component, widely held by a lot of you but investors are rolling eyes and shrugging shoulders after coke reported a 5% decrease in revenue. the stock was down, barely up, nobody seeming to care, they're not surprised coke is having trouble selling main product coca-cola. the main news is the joe biden revelation that he will not run for president in 2016. he says while family would be ready at this juncture, it's still emotional that he lost his son beau and feels he missed his window it. sounded like a concession speech, it sounded presidential as well to a lot of people. he said while he won't be running, don't expect him to sit on the sidelines.
>> while i will not be a candidate, i will not be silent. i intend to speak out clearly and forcefully to influence as much as i can where we stand as a party and where we need to go as a nation. liz: joining us a fob, a friend of biden who was willing to raise millions for him. are you disappointed here, steven? >> i have mixed emotions about it. joe is a truly authentic and honest guy, always has been, and he's someone who realizes that everything in life and politics depends on relationships. i have always taken him at his word and take him at his word now, though i note what he said was the family was indeed emotional prepared. he didn't say he himself was totally emotionally prepared. liz: right, exactly.
>> and i'm not going to second-guess that. you know, beau's death left a big hole in his heart, and that's going to always be that their. liz: of course, completely understandable. while he wasn't ready, you certainly were ready, willing and able to open your wallet for joe biden. you were ready to come up with a million dollars right off the bat to help this campaign. where will your money go now? to whom will you put your money at this point, stephen? >> let's qualify it. what i had told the folks that were running the draft biden organization, most of whom i knew very well was that i would give a significant amount and would raise a million dollars, and i felt there were a hundred other people in the country like me that would do so. i've been a friend of joe's for 40 years.
i haven't decided what i will do yet? i certainly want to consider my options and let it sink in. the one thing that i can tell you is that as a lifelong democrat who has often supported republican friends and colleagues, i feel very, very certain that i will support the democratic nominee. liz: okay, i would imagine that that would be the case, but if hillary clinton matches most closely to the genetics of joe biden's politics, why can't you just say hillary at this point? >> well, i'm not prepared to say hillary at this point. i want to really think about what she brings to the table. clearly, it seemed to me from just watching her in the past month or so, and watching all of the presidential candidates running for the nomination,
both republican and democratic, that she has the most experience and the most presence and is someone whom i think would be ready to be president on day one, and i find no one else even though some of them i admire, i find no one else that has that qualification. liz: stephen, when you are ready to make that decision, please come back. >> i'm happy to do so, liz. liz: thank you, stephen cozen, a longtime friend of joe biden and ready, willing and able to raise a million dollars for his choice for president. we shall see. here now is some breaking news that we just got out of bernie sanders and his campaign. he just made a speech, and we have sound that has just come. in here's the breaking news, we want to hear what bernie sanders mentioned about joe biden saying i'm not ready and i'm not going to run for president. here it is. >> joe biden is a man who has devoted his entire life to
public service and to the well-being of working families and the middle class. he made a difficult decision based on the needs of his family and his view of his future, and i respect the decision that he made. liz: but will bernie sanders get joe biden's money hand-me-downs? joined by two men on the inside of washington but on the outside when it comes to really making sure they can balance budgets and do things that a lot of presidential candidates can't do. evan bayh, former democratic governor and senator from indiana and fox contributor and jim douglas, former governor from vermont, now with the bipartisan policy center. okay, governor douglas, right off the bat, we heard bernie sanders, he is obviously the senator from vermont, you guys are on different sides of the aisle. you're the vermont guy. what do you think of what bernie sanders just said? . >> i know him well.
heard bernie's view on the state of the world for the last 40 years and haven't changed. seems to me that the decision the vice president made today is likely to benefit secretary clinton principally, so we'll see how the polls play out over the coming days and weeks. frankly, i wasn't surprised by the vice president's decision. i think as he said, it's something that he might have done differently if it were a year ago, if he had any idea how hillary's e-mails and benghazi issues would be playing out. her credibility would be as soft as it is, it is what it is, and the train seems to have left the station. liz: governor bayh, are the democrats now and people like stephen cozen from whom we just heard, who was ready to prepare about a million dollars for joe biden, are they solidifying their support at this moment around a particular candidate for all intents and purposes, hillary clinton possibly? >> i think there will be a decent interval, liz, but ultimately i think that's what will happen.
more establishment oriented democrats, people in president obama's orbit but not mrs. clinton's. people interested in wing the election because mrs. clinton would have a much better chance than with all due respect, my former colleague senator sanders. i do think you'll continue to see her solidify her support, following what was generally considered a very strong debate performance the other night. liz: boy, the "wall street journal" asked a very prescient question, if you were to remove joe biden from the race, how old hillary clinton do against everybody else, against bernie, over bernie? here's what it showed. hillary's lead jumps to 58% to 33% for bernie sanders, and we can show this now. with polls, it's very much the question you ask, who benefits the most without biden? clearly looks like hillary clinton. the republican side of this here, governor douglas, is there a horse you're backing in the race, and what does it mean
to that person and the entire republican side? >> i haven't endorsed a candidate yet. there are five former colleagues in the republican field which is quite diverse and wide as everybody knows. i hope over the coming months that the field will winnow, and there will be clear choices. obtain front-runners, the outsiders are very much like bernie in a way. because they're responding to an anger, a frustration in the american people. concerned about equality of opportunity and thinking that the system is rigged against them, which to some extent it is. so i expect that over time, some of the more experienced candidates will rise and others will drop out, and the picture will become clearer. i think americans are probably ready for a change, liz, because the white house generally has turned over every eight years, just like the election north of the border, voters like to mix it up a little.
after eight years of a presidency that's not very strong in terms of the president's poll numbers right now. i think the chances for a republican victory are good, if we can find the right candidate. liz: well, you've got another candidate you need to find at this point, that is speaker of the house candidate. the dramatic announcement late last night from paul ryan who says put me in, coach, consider, it but you have to accept, and put caveats to the republicans, will they, governor bayh, will from a democratic standpoint where you stand, will they look at this platter and say i'll eat it all, it was specific, eat every bit of it and digeffort it. doesn't sound like all 247 members of the republican party are ready to rally behind him? >> sounds like they're going to rally around like that. they're behaving traditionally like democrats, forming a
firing squad by forming a circle. this is the same crowd that wants to shut down the government to try and get its way or is willing to default on the national debt, and they just don't really steam understand how our constitution is structured, which is it'stive fused power, we didn't want somebody so strong to impose their will and forces people to sit down and compromise, and they say i support the constitution but i'm not willing to compromise on anything, they're not understanding the document they're willing to support. almost as if anybody who wants to be speaker of the house should be disqualified for a lack of bad judgment because it seems as if that one group is going to make it impossible, even someone like paul ryan, a very sensible person. and by the way, paul ryan, he's usually a conservative person. liz: yes, he is, and governor douglas, he says let me know by friday. he's about in just 45 minutes
about to meet with the freedom caucus, which is, of course the more intran gent, or far right side with the strong beliefs, and the one thing they don't want to get rid of is you must remove the motion to remove because that's what john boehner did. he wants to lead as speaker of the house. so governor douglas, what do you expect will happen here? >> first of all, i agree with evan's criterion, and by that basis, paul ryan qualifies, i don't think he really wants the job but he's willing to do it. i admire. that i think evan is right as well that the republican caucus collectively has to show it can govern. it's great to have different points of view within the party, that's healthy. but in the end the majority has to rule or it won't be a majority for long. i hope the freedom caucus and all members of the house republicans have vigorous debates about issues, but in the end unite behind their leader and i hope that will be paul ryan. liz: maybe we'll know by friday.
governor bayh, governor douglas, good to see you, appreciate it. 45 minutes before the closing bell rings. are the saudis trying to drive down the price of oil which hurts them to knock u.s. frackers out of business or do they have another competitor in mind? and does it have something to do with elon musk? "countdown" coming right back.
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. liz: the market is behaving very strangely, especially the dow jones industrials. the top of the show we were up, then jumped up to 52 points. right now the dow is down 2 points? very, very strange lack of direction here. we're watching it every single second for you. how about this. welcome to the lifetime high club. consumer names hitting new lifetime highs today, expedia, l brands, the parent of victoria's secret, bath and body works, too. you know you love the vanilla hand wash, john clorox, nvr, advance auto parts hitting lifetime highs, very interesting moves here. the good with the bad and the bad with the good. oil falling for the third consecutive session following a report every wednesday, the inventory report. what did we see?
expect 3.5 million barrels billed. saw an increase of nearly 8 million barrels. nearly double what they told us to watch out for next week. with the eia forecasting u.s. crude production will fall next year, that's wishful thinking because it hasn't fallen and demand for opec's crude to grow oil insiders see the saudi's oversupply of oil output, they are doing the same thing we are, as a strategy to crush u.s. frackers. they don't like losing market share. my next guest has more than 25 years experience in commodity trading and says no way. opec needs north american oil production and fracking to succeed. he's steven shork, editor of the shork report. i would look at saudi arabia and say they threaten all of our production, you say no, why not? >> they're not threatened, liz, they want north american production to succeed because the saudis can always compete
with another producer, especially a higher cost producer, that's not in their wheel house at this point. what the saudis cannot compete with is technology. electric motors, hybrids have already raised the price of elastity of demand for oil, they're losing market share in that respect. now we begin to factor in the potential of what driverless technology will do for saving energy, this is something saudi arabia cannot compete with. so essentially they want lower oil prices to compete with so we raise the entry barriers for alternative fuels, and we're seeing this because of the stupidity of the consumer. now we've been told this falsehood now for the past year that somehow cheap gasoline prices are good are if the consumer. you know what? we know where the consumer has been spending their gasoline savings. they've been spending it on gasoline because gasoline consumption is up this year.
liz: stephen, i love it, i love when gasoline is low, you're saying the saudis aren't scared of us and what's going on in the dakotas, they're terrified of tesla? petrified of the prius? >> absolutely because this is going to -- this is their long run problem here, when you start to change the technology, you're taking away market share. that's where the saudis are afraid of losing market share. not to north dakota or alberta, it's to the elon musks out there. they want the entry barrier for alternative fuels higher. as we've seen for the past year americans spending more on gasoline and spending more on more expensive gasoline, that is, instead of buying regular, they're buying premium which is unbelievable. they're spending money and exactly what saudi wants, exactly what saudi needs. that's only one side of the coin, liz. the other side is we have to keep in mind the chasm between the sunni side, saudi arabia
and the shia side, iran of opec has never been greater. now that the united states has given imprimatur on a nuclear iran, we have to keep in mind, the only thing a radical sunni muslim hates more than a jew is a radical shia muslim and the only thing they hate more than a radical shia muslim is a radical shia muslim with a nuclear weapon. they are not going to spend 2016 funding iran's nuclear arsenal. we're looking at a situation where a saudi will continue to put oil and it's going to be a price war through 2016. liz: okay, listen, i love gas in new jersey. it's really cheap right now. with all of what you said, that's the crucible for our viewers and the consumers there. thank you so much. we appreciate it. dow is languishing, down just 2 points, though. the "star wars" trailer that we talked about yesterday paid off
huge for disney. with high ratings for "monday night football" because disney owns espn where it ran. but you will not believe how disney repaid its espn staffers. you need to hear that. we'll tell you the one movie trailer that "star wars" has not eclipsed as well. and take a second to connect with us on social media. guess what everybody? thanks to you we're more than 41,000 twitter followers strong, try to get to 50,000. jump on it twitter.com -- we're talking so much, and what did i tell you? the dow is up 5 points, very strange direction move back and forth back and forth for the markets. don't go away.
. >> and this ball is drilled to right-center field. it is deep. liz: one more to go for the new york mets! new york winning the game three of the national league championship series 5-2 against the cubs last night. big credit to mets infielder daniel murphy who hit a home run in five straight playoff games, tying the postseason record set by carlos beltran in 2004. now the mets play the cubs at wrigley field again tonight, if they win, they will have swept the cubbies for the nlcs title and will be on their way to the world series. so feeling pretty good out there i'm sure for the mets team but health care is looking sickly today, how's that for a segue. s&p sector one of the worst performing sectors of the day. what's going on with valiant
pharmaceuticals is tumbling by 18%, that's not the worst of the session, i believe they were down support compared the pharmaceutical company to enron saying it had fake revenues, fake sales, phantom, and we're not at halloween just yet, a short selling research company, they make an investment, short a company and beat it down with news they say is actually true. after it was halted, they stated what their defense was and the stock is hurt by 18%. do they have further to fall and why is one man who has been very much a part of the behind-the-scenes hedge fund world speaking out for the first time to this guy? gary kaminsky, host of wall street street with the new york mets hat. so much to cover. floor manager said nice to see the mets fans coming out of the woodwork. this hat goes back to when you and i graduated college, which is the last time i was happy
and proud to wear the hat. i've been there all along. yes, here we are, and murphy is going to break the record, the carlos beltran record. the mets, we love it. i wore a hat because i have no hair left. liz: don't you feel badly for the cub fans who have to deal with people like you? >> it's our time. liz: someone said it's the cubbies time. it appears, own health care, you on wall street week had a guest on who has never come out before on television. his name is doug haines. >> this is sunday's episode, we have doug haines from formery sec capital the best performing hedge fund, what everybody wants to know what the guys are doing. liz: they performed well. hear what he had to say on wall street week, you're getting a first peek here. >> like retail and consumer sector a lot.
the health care sector despite the recent trouble, you can't look at body of innovation and say there isn't opportunity there. >> health care? >> retail to be honest, looking at innovation pieces of the economy. >> okay, he likes that. who's the happiest person in the world today? hillary clinton, thrilled with the news joe biden is not going to run. what does that mean? more anti-wall street rhetoric and more anti-health care. now val eant has a specific situation, hillary says they're going after companies. liz: price gouging. >> buy the mature products, put them on the market with new labels, increase the prices, that hurt the biotech sector. what point 72 is doing, a tremendous track record of doing this. they're using this political rhetoric to increase our exposure in the area. liz: talk about the macro, or bigger, picture here.
the markets have quietly moved higher, the past three weeks in october, which is supposed to not be a good month. this is carl icahn known on your show and ours, a warning in july, a youtube warning that the high yield was going to destroy everything, it's a disaster waiting to happen, and if we listen to him and took all of our money out of market, we would have lost money, gary. >> the averages have bounced back but there's tremendous carnage underneath the averages since the middle of september. and you know carl feels as passionate about the concern he tried to bring viewers in april or may, and the video he released last month, as they did then and today, he truly believes what we are setting ourselves up for is a significant correction in the junk bond market, and i don't think he regrets at all releasing that video. in fact i know he doesn't. he needs to make sure the
public is aware of what's going to happen when and if the fed starts to normalize interest rates which is way overdue. liz: coming up, best, biggest and bubble. we're going to ask you the best thing in the markets coming up. the biggest nightmare you have. and the bubble gary sees coming. what's under the bill of this hat? i can't show you, but there's something. >> sorry charlie is not here. charlie, hope you're feeling better. not the same without you on the show. liz: yeah, gasparino, you know if he's home sick, he's home sick. liz: some say when he walks past mirrors he doesn't see his reflection. >> check in with gary on wall street week, he's not going anywhere, he's coming back. 25 minutes before the closing bell rings. a hot new ride and hot new stock, what you get if you race tout buy a ferrari or a share
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big day? ah, the usual. moved some new cars. hauled a bunch of steel. kept the supermarket shelves stocked. made sure everyone got their latest gadgets. what's up for the next shift? ah, nothing much. just keeping the lights on. (laugh) nice. doing the big things that move an economy. see you tomorrow, mac. see you tomorrow, sam. just another day at norfolk southern. you can't breathed. through your nose. suddenly, you're a mouthbreather. well, just put on a breathe right strip which instantly opens your nose up to 38% more than cold medicine alone. shut your mouth and say goodnight mouthbreathers. breathe right pubut to get from theand yoold way to the new,d. you'll need the right it infrastructure. from a partner who knows how to make your
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represented israel at forefront of the tensions, began gillerman former ambassador to the united nations, just flew in from israel. what's it like on the ground there? >> uneasing and worrying on the ground. you know when you send your children to school or your grandchildren to kindergarten and you worry whether they make it back, when people are worried about going to a restaurant or just buying a coke somewhere, it's a horrible situation, and it's a horrible situation because you have these palestinian youth who are raised by text books which advocate killing israelis and shedding their blood. liz: there are videos of little children holding kitchen knives now saying i would like to kill a jew. so that is a cultural issue that we can't begin in america or in israel to understand. okay, so can john kerry jump in and fix the situation? what are his chances of tamping
down the violence for the moment? >> i'm sure john kerry wants to do the right thing and i'm sure he cares, i'm sure his chances are very slim, they're very slim because united states unfortunately has lost much of its influence in the region. friends feel they cannot rely on it. enemies feel they can get away with murder. putin is reasserting russian dominance over the middle east and increasing involvement in the middle east, and therefore, however much kerry wants to do something about it, i'm very doubtful whether he'll succeed. liz: let me ask you what may be an uncomfortable question, with whom is prime minister netanyahu closer? putin or barack obama? >> it's a very uncomfortable question. but i hope that prime minister netanyahu and president obama will be able to regain the
confidence which those two leaders must have in each other when they meet in the beginning of november. i know prime minister netanyahu has a very, very close relationship with president putin. liz: that's a big statement. this at a time when putin is helping bashar assad of syria. syria is very close to the golan heights, right there at israel's border. what if the palestinian violence from the gaza strip spills to the golan heights, who is syria going to help then? not you guys. >> syria is in deep trouble and bashar assad has far greater worries than what to do about israel, but he knows if he as much as touches israel, he'll be finished, and we know in the past even when israel ostensibly according to foreign reports bombed a nuclear act in syria or did certain things
there, bashar assad did not react because he knows if he as much as starts anything with israel, he'll be finished. but syria is in a very, very difficult situation, but so is the whole middle east. i think this is time really for us to look for a regional settlement, whether with the saudis, with the gulf states, maybe under the leadership of president sisi, you need a strong america who the region has great trust into work together to lower the flames and bring about the far better situation in our region. it's possible, it's not easy. liz: ambassador gillerman with a sobering, sobering statement. thank you very much, we appreciate you coming into speak with us exclusively. >> good to be with you. liz: look at defense stocks, not as if the u.s. is rushing to israel's defense at the moment. at least from what we can see. important to mention there are always different pictures what's going on behind the scenes, this is a case where we see whether the stocks might react certainly.
so thank you, great to have you. thank you. 15 minutes before the closing bell rings. ferrari, hear the engines all the way down on wall street, coming around the final turn of first day on trade at the new york stock exchange. ticker symbol race. while shares have slowed down right out of the gate. it popped at first, will it make another wrong turn like recent ipos, we give you recent history lesson that may be a warning. stay tuned. ♪
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over last week, but, oh, listen to this, that success overshadowed today after disney announced we're firing you. they fired 350 espn employees, that's about 4% of the workforce. internal memo says the layoffs were due to a broader strategy. it comes a few months after disney ceo bob iger said espn had seen subscriber losses. one minute it's yeah, espn, and the next minute you're fired. disney climbing a third of a percent. let's get to race, ferrari trading under the ticker symbol r-a-c-e, up 7% at $55.82. had been $60 as soon as it got out of the gate this morning, could it turn out to be a momentum stock or not? take a look at performance of two other momentum stocks of recent history. we like to put things into perspective for you. the container store doubled,
surging, then falling hard toward the end of its first year in 2013. gopro saw an early price surge, look at that, gopro trading around $29. the annual high was $87. just be careful. but lori rothman, she's not careful, she's traipsing around the new york stock exchange, it's a great day for ferrari for the first day of trade. >> gorgeous day out here weather-wise and what a sexy show of vehicles out here, liz, ferrari as you detailed debuted today only 10% a share, let's face it, if you can't afford to own a ferrari, a car, you want to own shares. for now it was a tremendous debut, lot of demand for shares, we did see a scarcity of shares. talk about the cars. they are something else. you are looking at the ferrari
spider, sets you back, $600,000. but it can go upwards of 200 miles per hour, 0-60 in just 3 seconds. there's also formula one car, experts here tell me ferrari isn't having a terrific year in formula one but an amazing car, and real quickly, 1961 antique ferrarey, could go off at auction 20 million dollars. right outside the new york stock exchange. liz: $600,000 for a car? kind of pricey. >> if you're shopping for carpools. liz: kids, squish in the back. >> i can see you shuttling your kids in the car. liz: get the ritz crackers and the us. >> boxes, they've graduated to long island iced teas. it's important to your portfolio, best, biggest and bubble. morgan stanley wealth
believes that america's leadership and presence in the world is not a force for good. america has led the world and it is a more peaceful world when we're engaged the right way. we do not have to be the world's policeman. we have to be the world's leader. we have to stand for the values of freedom. who's going to take care of the christians that are being eliminated in the middle east? but for the united states, who? who's going to stand up for the dissidents inside of iran that are brutalized each and every day? but for the united states, who? who's going to take care of israel and support them - our greatest ally in the middle east? but for the united states, no one - no one is capable of doing this. the united states has the capability of doing this, and it's in our economic and national security interest that we do it.
i will be that kind of president and i hope you want that kind of president for our country going forward. announcer: right to rise usa is responsible for the content of this message. . . glad i could help you plan for your retirement. alright, kelly and promise me that you'll try that taco place on south street. and we have portfolio planning tools to help you manage your ira. yeah, you're old 401k give me your phone. the rollover consultants give you step-by-step help. no set-up fees.
use your potion. sorry, not you. my pleasure. goodnight, tim. for all the confidence you need. who's tim? td ameritrade. you got this. ♪ liz: four minutes to go before the closing bell rings. the nasdaq down 42. not a great day for the overall market but we'll play a game that will make you money nonetheless. best, biggest, bubble. gary kaminsky joining me now. race, ferrari, are you buying, yes or no? >> i don't have a car and wouldn't buy the stocks. viewers must remember only 9% outstanding in the actual float here. very, very small amount of shares are being traded. the stock is not really reflect what the value might be six or nine months down the road. liz: shouldn't expect to best thing to happen next nine months
i know you will say the mets because you're wearing that hat. what is under bill of this hat. how old gary is. older than dirt. i'm kidding. >> show the signatures. liz: there are a lot of signatures. can i say, put on the screen, lenny dykstra? >> in '86 nails was the man. a lot of things happened afterwards. should have never gotten involved in the stock market. look at lenny. what a mess. back in '86 he was the man, right? can i take this off now? liz: we have the best from penal cell 287. whatever it is. best thing happens to the markets next couple months so view know? >> best asset class is municipal bonds. rates stay low. taxes go up. bonds will add tremendous value. liz: no thanks to meredith whitney. >> man, was she wrong. liz: biggest nightmare you fear for the markets? >> the fed continues to leave the market in the land of the
unknown of the fed should raise rates and should have raised rates and just get out of the way. liz: 3% chance that they will raise rates in fed funds futures pits so they say no. >> biggest fear this gets pushed out. liz: bubble? >> hedge fund performance has been very, very difficult this year. what will be the worst impact in terms of that 2016? high-end arb market is going to collapse here. liz: arbitration. >> high-end arb market in terms what is happening. auctions at christies, sotheby's, quantitative easing. hedge funds. i was put on the spot where do i see correction. where is the bubble? that is where it is. liz: that's where it is. as we watch markets a lot of indecision when it comes to the markets. if you can put up dow jones industrials we've been up, down all around. is that something to worry people?
we're down 47 points with two minutes to go? >> not anything no worry about but i don't see as you point out the rest of the year i just think earnings will be okay. the economy will be okay, and the stock market as such will be okay. liz: we're awaiting ebay earnings, gary. thank you. go nails and lenny dykstra. >> go mets. there we go. liz: i let him wear the hat during the interview. melissa. david: a lot of folks are watching in chicago by the way. down 0-3. if it is 0-4 that would be a shame. i like to see a little competition. i'm going to chicago at least for tonight. melissa: thanks, guys. the window has closed. vice president joe biden making a bombshell announcement this afternoon. he will not be running for president, even though he sounded awful like a candidate during that speech to me. david: he sure did. paul ryan is ready to run for house speaker if republicans
agree to his demands. big pill for some to swallow. standing in the way could be the house freedom caucus. we'll speak to the cofounder of the caucus ahead of his 4:15 meeting with ryan. melissa: hillary clinton's turn on the hot seat in front of the benghazi committee. the closing bell rings] but first the as closing bell sounds here on wall street. we're ending the day on major indices right now, dow down 46 points. the s&p shrinking more than half a percentage point. look at crude oil though. down 2.4%. gold trading lower. the bears in full effect. david: we'll get back to markets including earnings from ebay and others. first vice president biden may have been handing hillary clinton the democratic nomination today with his long-awaited announcement. >> i've said all along, what i have said time and again to