Making Money With Charles Payne : FBC : August 30, 2024 2:00pm-3:00pm EDT : Free Borrow & Streaming : Internet Archive (2024)

time with people coming up from behind them, so she's watching my six. brian: we were in the green room earlier, and we were doing system of this stuff. and echo came and stood between -- kind of like in my legs, but echo could tell i was nervous if because i don't have a lot of experience with dogs. and echo was looking at you saying this guy might be a problem, is that right? [laughter] tye a. taylor: brian, you're never a problem. i want to the thank all of you. betsy, evan, j.b., joining us today, thank you for your service to our country and for sharing a few moments with us here. brian: we're going to send it over the ashley webster in for charles payne. ash, take it away. ashley: thank you very much, guys. how cute are those dogs and how well behaved? good afternoon, everyone. i'm in today for charles payne, and this is "making money." breaking right now, we are wrapping up what has been a very volatile month just with as we prepare to start the another month that is, yeah, historic

historically volatile. so what should we expect from the september effect? well, lance roberts is here to break it all down for us. the fed's preferred inflation gauge coming largely in line with consensus, so is this the green light? the federal reserve has been waiting on to cut rates or could next week's jobs report change things? we'll get into that. vice president harris giving her very first interview since becoming the democratic presidential nominee, offering very little specifics and flip-flopping on fracking. not easy to say. i'm going to ask steve moore if she should catch the new "reagan" movie this weekend. tax cuts, min? and bud light using the college football season to help with their redemption campaign with customers. my friday panel takes on the rough week it has been for dei. all of that and more on "making money." ♪ ashley: all right, markets

edging up as we close out what has been a pretty choppy month for stocks. the s&p 500 closing yesterday's volatile trading session with 7 of the 11 sectors finishing in the green despite early selling following nvidia's second quarter earnings report which, frankly, left investors unimpressed. meanwhile, stocks rising today although it's a bit mixed after the pce index rose .32% in july -- .2% from the previous month. that in line with forecasts. and increased 32.5 -- 2.5% year-over-year while core pce came in below expectations at 2.6% year-over-year. in other words, pretty benign. joining me now is lance roberts, he is the ria advisers' cio, fyi. lance, great to have you here. [laughter] july pce coming in as expected, so my first question to you is what does that mean for the rate cut narrative?

>> basically that, you know, there's 100% chance that the fed is going to cut rates in september, at least a quarter basis point at this rate. there's really nothing economically right now that would suggest they would need to be more aggressive many terms -- there was some expectations for a 50 basis point cut, but right now everything pretty much aligns at the moment for a 25 basis point cut in september. ashley: right. so a month of volatility, as we said, wrapping up as we head into september which, again, tends to be a challenging month for the stock market. are there any external factors you'll keep an eye on that could add to the volatility? >> absolutely. one is, is that we're 600 days now -- 60 days out from an election, and historically in election years markets tend to be a little bit choppy in either the month of september or october as markets kind of derisk a bit before the election. simply because you don't know what the outcome's going to be. so it's kind of getting ahead of

potential policy changes. so with markets a little bit overbought here, we're getting a lot of -- loss of momentum in the markets the last few days, i wouldn't be surprised to see a small correction, 2-3%, maybe 5 at worst, before we get to the election in november. ashley: want to the talk about, if we can, nvidia. you know, on the surface it was pretty good, but i guess just not good enough from investors who really expect the moon and the stars from nvidia these days. is nvidia priced to, you know, perfection right now? where do you see this stock going? >> well, you know, look, we've with owned nvidia for a long time now, and we reduced our position back on july the 19th, reduced it again last monday before the earnings announcement simply because, to your point, i mean, expectations were so high that there was really no way that they could appease everybody to such a degree. but we do need to keep one thing

in kind of perspective. yes, the stock was down 6% yesterday, but it's up 1400% since january -- 140% since january. yeah, a bit of a correction, a little bit of a disappointment. but, you know, for us longer term we really like the story that nvidia has. they have the new chip coming out, the blackwell chip, later this year. i think that'll help increase margins, bring back demand some. so, again, we're certainly not bearish on the stock, but, you know, we did take some profits, reduced our risk. but if we get more of a correction, we'll add back to our position. ashley: do you think we've moved past -- i hear this expression a lot, lance, we've moved past peak acceleration in a.i. spending, especially when it comes to nvidia. i find that hard to believe because i feel like we're just at the tip of the iceberg when it comes to a.u.. >> well, i agree with you -- a.i. the spending has ramped up very much for the big large cap companies, microsoft, amazon,

apple. they've been spending a lot on a.i., but we haven't gotten down to the mid-cap, small cap companies that are going to have to implement a.i. to keep up within the markets. we've heard from walmart, from klarna yesterday that a.i. is reducing the need for employment, increasing product utah. that should ooh -- that's going to have to filter through mid caps, small cap company as well, so there's more spending to come. it may not stay at the rate it's going, but it's certainly not going to stop over the -- [no audio] ashley: right. well, i think we just lost lance, but good news is, we got almost all of that interview in. so we appreciate that, lance roberts. thank you very much. sorry we lost you at the end. let's bring in vertical research advisory managing partner kip herridge. great of you onboard today. let's start with the inflation report. i called it benign which markets like, right in not going to do anything to spook the fed. >> hi, ashley, thanks for having me on today.

i agree with you 100%. lance, i agree with him as well. it was a benign report. i think inflation's in our rearview mirror. the markets have moved past it, and there's a bigger story moving forward and that is disinflation. we may even have deflation in the years to come with the power of this innovation revolution that's taking place. it only drives prices lower. we think the fed is behind the curve, they're going to be aggressively cutting rates. we think the 10-year is going to drop below 10% in the next 6-9 months and the fed is going to the aggressively cut from here. ashley: the equity markets, it seems to me, are pretty optimistic that this economy can avoid a recession while the bond market, maybe a little more wary. what's your take on it? >> yeah. look, it's a great question. and i think you get to have it both ways with this because the 10-year yield has fallen from 5% to today's 3.8%.

and i think the big story there and the reason we think rates will continue to fall and stocks will continue to rise is that gravity is in control. when you have the ability to buy u.s. government safe paper, safe and secure at 3.8%, versus german funds of the same magnitude at 2.3% or the japanese jdbs at 1 president, global money aside will continue to flow into u.s. debt. we think that continues to push bond prices up, yields down and that's also a big boost for stocks as the fed's rate-cutting cycle moves on. ashley: very good. by the way, you say be cautious of perm ma-bear influencers. what makes you say that? >> it's a topic of mierntion a favorite of mine for the last 10 years, if you're online much, either the internet or social media, you're going to see the perma-bears, they always a sound so smart, smarter than the bulls, but somehow they always lose out to the bulls. and the thing most people should

realize is most are not investors, right? they're list builders. they take your data and monetize it. they're here to really take advantage of fear mongering and knowing that fear sells. so we're a loud voice in this camp. we are optimistic, we think optimists make the most money in the markets, and a lot of these perma-bears should be called out for what they are. ashley: very good. we've had a little bit of a wobbly week for the marks, a volatile month. we're heading into september, traditionally also volatile. what are you telling your clients? how do you play it? >> we just wrote this up again this morning. we're cautious here, and we have not been cautious. we've been aggressively bullish, but we think seasonality is mega. as lance says, september is a bad month. it's a very crowded trade. everybody is paying attention to that now. seasonality has held up well over the last couple year, so we're not selling, but we use

discipline, not adding to positions. however, we are using this to to buy semiconductors, we think they're cheap here, precious metals and minors, and -- mier ins, and we're buying tesla and bitcoin. those are our top picks. ashley: calm and very wise words from kip this afternoon. thank you so much, sir, for joining us. we do appreciate it. >> thank you, ashley. ashley: moving on now to -- thank you. america's national debt soaring past a record, get this, $35 trillion. and my next quest says kamala harris' economic plans would just add trillions more. economist daniel mccall is here to break down what he calls harris' upside down economics. that's next. ♪ ♪ upside down, boy, you turn me -- ♪ inside out and round and round ♪

olukai sandals capture the feeling of stepping barefoot into wet sand. the perfect balance of instant comfort and lasting support. say aloha to olukai. anywhere comfort. anywhere aloha. (♪)

♪ some things stand the test of time, like a family car. the hartford has been insuring experienced drivers for generations. many who switch to the aarp auto insurance program from the hartford. saved an average of $577. for what's worth protecting, the hartford is here. to get your free quote, go to the buck's got your back.

glp-1 drugs used in weight loss treatments are a global blockbuster, even with disliked and inconvenient injections. study results are arriving monthly from lexarias patented oral delivery technology trials. lexaria bioscience.

with so much entertainment out there wouldn't it be great... ...if you could find what you want, all in one place? show me paris. xfinity internet customers can enjoy the ultimate entertainment experience and save on some of the biggest names in streaming,

all for just $15 a month. get the fastest connection to paris with xfinity. ♪ ashley: the fed's preferred gauge of inflation, as we say is, coming in largely in line with consensus, but that doesn't take away from the fact that consumers are struggling. last night vice president harris claiming she's proud of bidenomics but admitted that grocery prices are still too high. grady trimble is live at the

white house this afternoon with the latest. grady. >> reporter: hey, ash. vice president harris stopped short of calling bidenomics a success. she didn't even say the word bidenomics, but she rattled off a whole host of economic policies under the biden-harris administration which essentially amount to bidenomics, and she called them good work. so she seems to be proud of the record despite high inflation. she was also asked what she would do on day one as president, and she gave kind of a vague, kind of a vague answer about lowering prices. >> day one, it's going to be about, one, implementing my plan for what i call an opportunity economy, extending the child tax credit. there's the work we're going to do that is about investing in the american family around affordable housing, a big issue in our country right now. so there are a number of things on day one. >> reporter: in that interview harris said she's proud of bringing down inflation to less than 3% despite if fact it was at 1.4% when she took office.

she also tried to to explain some shifts in her policy positions like her past support of a fracking ban and the green new deal. she says her values have not changed even though those positions have. the trump campaign is going after her for that today. senator j.d. vance says harris has been coached to pretend to be moderate but that she's actually governed as a, quote, a far-left person. >> and if you think groceries are expensive now, what happens when we increase the cost of energy even further, making it hard to get the food to the grocery store? if you think the cost of housing is bad now, what happens when we increase the cost of producing the materials that go into the houses? she is pursuing a policy, guys, that is going to make americans poorer in their own country. >> reporter: and, ash, you mentioned that new read on pce today, both headline and core pce coming in, rising slightly less annually than was expected.

the white house says that is a sign that their plan is working even though they have more work to do. it also probably makes rate cuts come september and maybe beyond that much more likely. all the data's pointing in that direction. ashley: all right, brady. just don't say bidenomics, we get it. thank you so much. [laughter] joining me now is chief economist daniel mccall. daniel, pce is the fed's favorite inflation gauge, we know that, so do today's numbers give them a green light to cut in september? what are you thinking, 25 basis points? 50? what say you? >> i think that the fed is going to cut probably 25 basis points. doesn't make sense to cut 50 basis points considering that that flakes remains persistent -- inflation remains persistent and that the decline in annual rise of inflation comes from fundamentally from energy prices. the therefore, the base effect is also helping that figure.

but we have to remember inflation in the last four years is up 20%. so the fed needs to be cautious on the one hand and at the same time try to give a message to markets that that it is likely to move closer to its target. so a message of reassurance. i believe that it's very difficult though -- ashley: right. >> -- that the fed can cut four times as the market expects today. ashley: the market always expects more, right? let me ask you about this, daniel. in a recent peace -- piece, you made the connection between kamala harris' economic plan and that of a former president of argentina. explain what you mean. >> well, this is the most radical socialist program that has been presented in the united states. but on top of it, it comes, starting and building from a completely unsustainable level

of deficit. the government itself in its plans expects a $16 trillion increase in debt by 2034. if the harris plan is implemented, it will add another 16 -- sorry, 1.9 trillion of debt. it means higher taxes and, therefore, inflationism. and it is exactly the same as the radical left has implemented in argentina. obviously, argentina doesn't have the world reserve currency. but when you reach that level of unsustainable debt and you build on it as she is already announcing that she will, what happens is that you put at risk the purchasing power of the u.s. dollar and the dollar as the world reserve currency. ashley: yes. >> so it is the extremely dangerous to follow that path because if you look at it, it is exactly the same as what they did over there. ashley: yeah, interesting. i want to get back to the consumer. we've been hearing a lot about the consumer from retailers this earnings season.

it's not been a pretty picture, frankly. dollar general saying, quote, more of our customers report that they are now resorting to using credit cards for basic household needs and approximately 30% have at least one credit card that has reached its limit. and, again, this is from dollar general. daniel, what does that tell you about the american consumer right now and the economy? >> well, it tells us that the economy is basically bloated by government spending and debt. finish and that the consumer is doing whatever they can in order to make ends meet. but it's basically coming from a massive increase in credit card debt. we have seen the consumer confidence figures this afternoon, and they show already that consumer sentiment remains 35% to -- 2019 levels. it has been falling and had a small bounce recently. and it's simply showing that

what companies are pointing out in their results is going to get only worse in the coming months, because higher taxes, higher levels of expenditure because inflation, as i said before, is a cumulative. so inflation is building for households. it's getting the consumer into an even more strained position, and i think it's going to make it even more difficult for companies that are close to the consumer to achievement and their targets -- achieve their targets for the end of the year. we're already seeing it in the earnings and in the margins. the government decides to blame businesses for inflation, but the reality is that what causes inflation is massive government deficit spending and monetization of that deficit which is what kamala harris is pretending to implement or expecting to to implement if she becomes president. ashley: right. it's just fraying businesses. daniela call, thank you very much.

we do appreciate it. we're going to move on now. small caps and big opportunities. the russell 2000 showing its resilience, so is that where you want to be when rates drop? we're going to ask our next guest who's on connect with his expert analysis after this. ♪ ♪ i'm on my way, i'm make it. ♪ big time. ♪ i've got to the make it show, yeah, big time ♪ e way home. that's right james, it isn't. car, where are we going? we're here. (♪) surprise!!! the future isn't scary. not investing in it is. car, were you in on this? nothing gets by you james. nasdaq-100 innovators. one etf. before investing, carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com

when the sawdust settles and the engine roars the thing you care about is a job well done. but when you get your tools from harbor freight something about the job feels different - your wallet. whatever you do, do it for less, at harbor freight. ♪ choose advil liqui-gels for faster, stronger and longer-lasting relief than tylenol rapid release gels. because advil targets pain at the source of inflammation. so for faster pain relief, advil the pain away. everywhere but the seat. the seat is leather. alan, we get it. you love your bike. we do, too. that's why we're america's number-one motorcycle insurer. but do you have to wedge it into everything? what? i don't do that. this reminds me of my bike. the wolf was about the size of my new motorcycle.

have you seen it, by the way? happy birthday, grandma! really? look how the brushstrokes follow the line of the gas tank. -hey! -hey! brought my plus-one. jamie? we're doing a live trading event in aventura, florida. at this incredible event, my team and i will be demonstrating the smart money trading strategies that have made us famous. if you're serious about trading, you don't want to miss this unique opportunity to trade shoulder to shoulder with the pros. it's limited to just 100 people, so make sure you grab your tickets now. call 888-809-8058 to reserve your seat. that's 888-809-8058. it's time. yes, the time has come for a fresh approach to dog food. everyday, more dog people are deciding it's time to quit the kibble and feed their dogs

fresh food from the farmer's dog. made by vets and delivered right to your door precisely portioned for your dog's needs. it's an idea whose time has come. ♪

ok y'all we got ten orders coming in.. big orders! starting a business is never easy, but starting it eight months pregnant.. that's a different story. i couldn't slow down. we were starting a business from the ground up. people were showing up left and right. and so did our business needs. the chase ink card made it easy. when you go for something big like this, your kids see that. and they believe they can do the same. earn unlimited 1.5% cash back on every purchase with the chase ink business unlimited card from chase for business. make more of what's yours.

♪ ashley: the russell 2000 trying to show its resilience as a investors want more exposure to small caps. yesterday those small caps outperformed many value, core and growth. and, by the way, historically small caps tend to outperform when the fed is cutting rates, so definitely worth a look. i want to bring in tjm institution thal director jim iuorio. jim, great to have you with us. is this a place that investors should really be giving a look at right now? >> i think the short answer is, yes. the long answer, like you said, small caps like when rates go lore. the names in the russell 2000 are three times more likely to use floating debt, but at the end of the day the reality is that if rates are going lower across the curve, it encourages risk taking, and small gaps are -- small caps are viewed as

a risk. none of that is the answer to the question. if you believe, like i do, that for the last two years people were buying the magnificent seven and selling the was russell and that begins to unwind, it could exacerbate the move. and there's a blueprint, when the russell settles above 22240, maybe a -- 22240, i think that's a level where i will buy. ashley: very good. i want to get into this, if we can. vice president camilla kamala harris -- kamala harris flip-flopping on fracking in her first interview since becoming the democrat nominee. i mean, it's hard to read a presidential candidate who seems to change her mind especially on an energy play like this. what do you make oif it? [laughter] >> first of all, it's the flip-flopping on fracking, which is fun to say is, i'll give you that. it's perfectly in personal personality with her to try to get elected. she's been very, very hard on fossil fuel companies.

it's difficult to below that she's abandoning that history, okay? so this administration that she's part of and she's trying to distance herself from, just two years ago in one week's time tried to deny access to capital markets for fossil fuel companies through a bill they proposed and then called them and asked why they weren't pumping more oil. this, to me, the most absolutely, you know, bipolar, bipolar sort of policy i've ever seen. i think oil will do very well under kamala harris because i do think she'll flip-flop. flop back, and she has to appease the green energy people, and oil could do well whether, paradoxically, the same companies that she hates, could do very well because they tend to correlate to the price price of oil. trade above 85, and i think the race is on in oil. ashley: what an upside down world we live in. >> amen, brother. [laughter] ashley: gold retreating from its recent highs, but do you like it as a hedge here against, frankly, the election in move? what do you say? >> no doubt about it.

again, i'm going to bash donald trump for a second or two, i spend a lot of time bashing the democrats. each one of these candidates has a history of profligate spender, i think donald trump may be so much better as far as creating a business climate that they might be somewhat inflationary as well. so i absolutely think gold is place to be. i've been banging this drum for about two years. the reality right now is i think the 2400 level versus 1800 is right now just a reflection of the dollar being 70% of what it was then. i think 2800 is very doable on the upside particularly when we start to discount the fact that central the banks around the globe are stockpiling gold. if they start buying gold, i think gold could be a lot higher. in the short term, i just bought puts and sold some calls within the last three days, but if it can settle above 2560, i think the race is on, and i think it shoots to 2800.

ashley: very quickly, jim, there has to be some concern out thero talk about it because i don't want to tempt fate, but if kamala harris wins and the democrats take the house and the senate, talking about taxes on unrealized gains which just strikes fear in everyone. especially in these markets. [laughter] >> it is absolutely one of the most asinine policies i've ever heard put forth. tell me this, when you tell me the day that jeff bezos has to sell 2.5% of his stock to meet his tax burden, i would be an irresponsible trader not to front-run the heck out of that. [laughter] i don't hear them talking about giving something for capital losses either. the thing is absolute theft. they put it at $100 million thinking the villagers will grab their push forks, but it is terrible -- pitchforks, but it is terrible policy. ashley: it certainly is. jim iuorio, or thanks so much for joining us. really do appreciate it. >> thanks, ash.

ashley: good stuff on this friday. all right, now this -- >> remember when we met, you told me that you wanted to make a difference in this world. you know what you have to do. >> governor reagan again, typically, is against such a proposal. >> there you go again -- [laughter] >> not afraid to take us on. >> there's nothing a retired governor can do about the soif yets, but a president, now, he can do a thing or two. ashley: great stuff. that was a look at the new movie "reagan," by the way, which hits theaters today. ronald reagan, of course, made cutting taxes the centerpiece of his campaign for president back in 1980 and, yes, he made good on his promise once elected, signing into law what was then the the largest tax cut in history. this time around, as we've been talking about, kamala harris campaigning on raising taxes of many americans, including boosting the top income tax rate to 39.6% and raising the corporate tax from 21 to 28%.

yikes. joining me now, heritage foundation economist, former trump economic adviser steve moore. i mean, steve, there couldn't be more dramatic, opposing views on how this economy should be run. i just mentioned to jim iuorio, steve, look, what would happen, this tax on, you know, unrealized gains? if i mean, the taxes on the so-called rich, and it's always the middle class that ends up getting socked the most. i mean, this is dangerous stuff, is it not? >> it sure is. and, you know, i did live through the reagan era. i came to washington, d.c. in 1984 and actually had the privilege of my life of working in the reagan administration for ronald reagan. and you're right, when -- here's an amazing statistic. when reagan came into office, ashley, the top income tax rate in the united states was 70%. 70%. when he left office, the highest rate was 28%.

that's a very dramatic reduction in taxes. and yet guess what happened to tax revenues? ashley: tell me. >> they went up. [laughter] they went way up. ashley: there you go. >> the rich paid more taxes. and, by the way, there's a curve behind this,st it's called the laugher curve. sometimes when you can cut tax rates, you get more investment, the economy does better, you get more revenues. now, i want to make this point because it's relevant to to rfk jr. who has endorsed donald trump. the other big tax cutter of modern timing obvious, was john f. kennedy. when he came into office the highest tax rate was 90%. he slashed the tax rates across the board. he was very famous for saying that when tax rates are too high and tax revenues are too low, we have to cut the rates to make the economy grow faster. so if reagan got that and john f. kennedy got that, why can't kamala harris understand that

concept? if. ashley: that's very true. i mean, the democratic party today is not what it was under jfk, that is for sure. >> exactly. that's true. ashley: anyway, you say that the american dream, sadly, out of reach for most americans. why is that and how can we change it? if. >> because, you know, when you define the american dream, it's a lot of things, but one of the hallmarks is being able to afford a home. and you looked at the numbers now, i have two sons that are in their early 30s, they're about the stage of their life where they'd be looking at buying a home and starting a family. you can't do that. they couldn't -- and, by the way, they're doing pretty well, ashley. they couldn't possibly afford to buy a house, not with these high mortgage interest rates, you know, you just cannot buy a house today. and that's true of people in their 30s and 40s where they're priced out of the market. because of biden's policies and the massive increase in costs and interest rates, a 30-year

mortgage, you're going to make payments almost twice as high today as you did when donald trump was president. do we really want four more years of that? ashley: yeah, no kidding. very quickly, steve, the august jobs report out next friday. could be a game-changer for the fed. what are you expecting? >> well -- [laughter] you know, i've given up guessing because, as you know, the labor department over the last year behalf has overestimated the jobs by over a million. did you know that? 11.11 million over-- 1.1 million overestimation. so i keep going on with maria a in the morning, and, oh, we got 325,000 jobs and the next thing, no, it was 25,32 -- 25 250, but i do think the economy is slowing down. ashley: we'll have to leave it there. steve moore, gotta catch that "reagan" movie. thank you so much. >> awesome. i'm going to see it this weekend.

ashley: excellent. we'll get a report from you. are you ready for some football? investments, that is. shawna sis el is here with some alternative ideas that are taking center stage, and you don't want to miss it, next. ♪ ♪ thunder, thunder, thunder ♪ ♪ [suspenseful music] trains. [whoosh] ♪ trains that sense what isn't on the schedule. ♪ trains that use the power of dell ai and intel. ♪ to see hundreds of miles of tracks. ♪ [vroom] [train horn] [buzz]

clearing the way, [whoosh] so you arrive exactly where you belong. the day you get your clearchoice dental implants changes your struggle with missing teeth forever. it changes how you eat, how you feel, and how you enjoy life. clearchoice network doctors have changed over 150,000 lives with dental implants. because a clearchoice day changes every day. finance your new smile for as low as $148 a month per arch for qualified patients. schedule a free consultation.

ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today.

tamra, izzy and emma... no one puts more love into logistics than these three. you need them. they need a retirement plan. work with principal so we can help you with a plan that's right for your team. let our expertise round out yours.

ryan t. writes, "moving is stressful. can you help me take one thing off of my to do list?” ugh, moving's the worst. with xfinity, you can transfer your internet in just a few taps. just a few easy moves. did somebody say “easy moves”? ♪ ♪ oh no. no, i was talking about moving your internet. this will move the internet. ♪ ♪ ooh, ooh. -let's keep it professional. professional dancers! -ok! stay connected during your move with the best in home wifi.

easily transfer your services in the xfinity app. bring on the good stuff. ♪ ♪ ♪ if. ♪ ♪ ashley: and you recognize that music, of course. are you ready for some football? well, my next guest says alternative investments are taking center stage for her retail investor clients starting with the nfl. joining me now is shane that sissing. great to have you here. the nfl voting tuesday to allow private ownership of 10% in teams. your clients already asking how they can get in on it, right? >> yeah. quite frankly, there was plenty of interest even before this

announcement. the nfl is the last of the major professional sports leagues to allow for private equity to invest in teams. all the other major sports leagues have been allowing it for years. so they're kind of late to the game, no pun intended. [laughter] but it is, you know, a lot of people don't realize my background is i actually have an undergraduate degree in sport management, and i actually thought i was going to be an nfl sideline reporter for espn for a really long time. and so for me personally, i connect with this. and so, you know, it's a very interesting opportunity. i think there's a couple of things that need to be noted though. it only allows private equity lps, and that is an important caveat because private equity people, executives, have always been involved in team ownership, you know? currently, the owner of the commanders that was just purchased, the commanders, is the cofounder of apollo. ashley: yeah. >> so the folks in the industry

have always had some affiliation to the financial markets. there's the ownership group for the broncos, we have tepper owns the panthers. this is about a private equity funds invest, the lps, which are the people who invest in those funds being able to have ownership of the team. they can only own up to 10%, and there's only 8-10 private equity firms that have been approved by the nfl. interestingly enough, one of them is blackstone who has no history of investing in sports which i found quite interesting. but, again, this is a really cool understood. e like to call it the democratization of sports, and we're seeing more and more interest in what are called sports rights funds as they've become more common place because people just are passionate and connect with their favorite sports teams. ashley: they certainly do. i used to live in green bay. let me tell you, packers fans are, well, rabid, is the only

word -- >> i'm from boston, and boston sports fans are next level. ashley: i know. i hear ya. i've got to move on to this though. according to a new report, the number of crypto millionaires has almost doubled in the last year alone, bringing the number to more than 17 22,000. are -- 172,000. are your clients still clamoring for crypto? >> yes, absolutely. with the launch of the etfs, people are gaining more confidence and being able to invest in crypto because with it's almost like a blessing, right? when the regulators have proved -- approved these etfs, it provided the average person the ability to invest in crypto without having to get, you know, come my candidated with cold storage -- complicated with cold storage wallets and how secure is that. now you have folks like fidelity and blackrock issuing etfs and wealth wise launching their own etfs, in fact, having a lot of influence over the policy

as it pertains to allowing these things to happen. so we had, you know, bitcoin etfs come out earlier this year and then month, month and a half ago we had eight etfs. with that said, i don't think people can appreciate that there's a finite resource especially with bitcoin, so more money going after same amount of supply is a tailwind to the price of these things, and the number of people who are actually investing in crypto is very low, and now we're going to see -- even if everybody put 1% in, that's a massive amount of money that will flow into these funds. ashley: be interesting to see where it goes from here. we're already out of time, unfortunately. shan if remarks -- shana, thank you thank you so much. good stuff. by the way, football doesn't just have retail investors excited, bud light is hoping the college football season will help their redemption campaign with customers.

beverly hallberg and carol roth will take this on. and, by the way, make sure to watch the education in america special tonight right here on fox business at 8 p.m. eastern. you do not want to miss it. great stuff. we'll be right back. ♪ if. ♪ ♪ baby with, come back. ♪ any kind of fool could see -- ♪ there was something in everything about you ♪ did i read this? did i get eggs? where are my keys? memory and thinking issues keep piling up? it may be due to a buildup of amyloid plaques in the brain. visit morethannormalaging.com

it's odd how in an instant

things can transform. slipping out of balance into freefall. i'm glad i found stability amidst it all. gold. standing the test of time.

(bell ringing) someone needs to customize and save hundreds with liberty mutual! (inaudible sounds) (elevator doors opening) wait, there's an elevator? only pay for what you need. ♪ liberty, liberty, liberty, ♪ ♪ liberty. ♪ >> you tell the truth, you can have this ice cold bucket of bud light. all you have to do is do this. >> all right, i'll go first. grease the wheels a little. >> what? if no. i confess that i practice my halftime speeches in the shower before games. professor wilkins, you want to confess anything? >> no. >> professor wilkins has been

taking karate classes ever since that saxophone girl put him in a head lock. >> that was a secret! >> now it's a beer. [laughter] ashley: shane gill gillis teaming up with bud light, part of bud light's redemption efforts after that dei backlash. and it's not the only company retreating from its diversity initiatives. both lowe's and ford, for instance, announcing rollbacks this week. now i want to bring in, if we can, group president beverly hallberg and carol roth, author of "you will own nothing." that's quite a title. cael -- [laughter] -- carol, it's been a tough week for dei. is it a bit of a death knell, a turning point, if you like, for this issue? >> i certainly think so. i think that companies are learning that it takes a lifetime to build a reputation and just a singular moment to

kill it. so we're seeing, you know, somebody like bud light try to repair this by pairing with shane gillis. the interesting thing is shane gillis was somebody himself who was canceled, but he was canceled by the social justice mob, and his authentic fans sood by him. in the case of bud light, they aligned with the social justice mob -- [laughter] so i think that, you know, the takeaway here is that this is the biggest marketing blunder in history. it's going to be a business case study, and as more and more companies are getting in that sort of crosshair, they're having to learn pretty quickly. ashley: it's interesting, beverly, you know, it really was the tail wagging the dog, you know? kind of kowtowing, if you like, to a very slim percent of society, if you like, and just not really reading the tea leaves properly and alienating their customers. i don't think that's going to happen again, do you? >> no, i don't think so. finish and, look, they fell into this trap that a lot of

companies fall into which is focusing on the wrong type of diversity. they focused on a progressive ideology, that's what they were promoting. what they need to focus on is the fact that a diverse customer base can like a product. look at college football. you're going to have people of all different backgrounds cheering, uniting around the same team. maybe cheering a bud light to to each other. that is the kind of diversity that bud light fans are fine with. it's when you insert this political ideology that only resonates with a small swath of americans that it turns out as poorly as it did for bud light. ashley: going to go to our next topic. it's the new college major, apparently. digital media influence. the university of texas at san antonio launching the program that basically combines the art of content creation with the science of audience psychology, maybe bud light should have taken this class. beverly, what do you think? good idea in today's world? >> this may surprise you, i

actually think it is a good idea. while i think it's concerning that roughly 50% of gen-z wants to be a social media influencer, i think there's a huge place for people in the social media career field. so i think it's smart for colleges and universities to focus on these type of academics because i hear on a constant basis whether or not i can recommend somebody. i work in the communications field, somebody who knows how to teal with social media. so it is a growing field, i think it's smart. ashley: very good. carol, i guess should we be worried when it comes to college return on investment by degree? we've talked about this before. engineering and computer science, probably a good investment. theology and visual and performing arts, or you know what? they leave students at an average of -$100,000 return on investment. shouldn't be surprised really though, should we? >> we shouldn't. and it's something that if we were smart and we wanted people to actually be successful and

not be saddled with debt especially young people, that we would teach them what return on investment meant. we need an entire overhaul of the college lending process, and one way to do that, ashley, is to underwrite. you know, if your taking -- no offense to beverly, social media influencer or underwater basket weaving, maybe you shouldn't get as much money as you do if you're studying engineering. make it more pat last,, finish palatable, align what they're charging with the expected outcome. ashley: this is interesting, south korea's central bank says hyper-competitive university entrance exams have to be overhauled because they're contributing to the country's declining birthrate. the bank says the intense if pressure surrounding the process driving up the cost of education and essentially discouraging young adults from marrying and having children. boy, talk about the come know effect, carol -- the domino

effect, carol. >> it's good to know that central banks around the world are just as clueless as the one we have here in the united states. [laughter] somehow i don't think it's a hyper-competitive entrance exam that has to do with the lower birthrates. [laughter] certainly, it's a societal a issue, and as you have more women who pursue advance ad degrees, that does have an impact. but the cost of living doesn't just relate to having the entrance exam, so maybe you should have somebody other than the central bank take a crack at one. [laughter] ashley: let me get to the this before we have to the say good-bye. openai says chatgpt usage has doubled since last year to more than 200 million weekly active users. now restaurants using chatgpt to generate new recipes. some pretty interesting results. beverly, how is this technology going to the change our lives? could it change it radically, or is that overstating it? >> i think it's all about how you use it. you can use it for good purposes, or you can use it for bad purposes. i know colleges and universities

having a very hard time figuring out whether or not their students are cheating when they turn in term papers. however, i do think this could lead to a really fun show on the food network, how chatgpt is helping the competitors compete against each other with recipes, so maybe it's a new business opportunity. [laughter] ashley: i think you could be right. we're going to have to leave it right there, we're almost out of time. beverly and very much appreciated. markets limping into the long holiday weekend. the s&p and the dow up slightly. that's it for making a money. charles will be back tuesday. kelly o'grady is in for liz claman today. kelly:as markets are limping away you are running into the holiday weekend. the bulls are making a last-minute charge at history.

tv

Wall Street analyst Charles Payne discusses investment prospects.

Notes

This material may be protected by copyright law (Title 17 U.S. Code).

info Stream Only