Transcript for Dow Moves Above 13,000; Plan to Revive Best Buy
Yeah. Six everyone I'm Tanya Rivero in New York futures were up again this morning following Friday's giant leap in stock prices. Joining me now to discuss the top business headlines at this hour as Jeff -- co host of breakout. On our partner Yahoo! finance good morning Jeff great to see you. -- a -- -- look at that we have an update again I think things are looking weird thing. -- what went what how and fry it quite rally following the release of the -- monthly jobs report in fact. The -- once again it made it above thirteen thousand you think we can stay there. I -- do actually there's. -- -- may go up or down of thirteen thousand I think in general the market has with stood so much I -- -- value and on August and talk about something negative it seemed like twice a week. But you know what eventually the market did what doesn't kill you makes you stronger over stronger -- -- sure has been a number reasons for this market to die. It hasn't -- a -- people -- ordered on Friday and are off to the racism I think a lot of our short stocks not a lot of people -- enough and they're just wanna get and any price. But yet. Berkshire Hathaway is putting -- -- on the sidelines what does Warren Buffett know that the rest of us probably don't. You know what Warren Buffett knows what he chooses to share of those are two entirely different things not now not lot of people know America's up on killer financial wizard. Actually it is kind of a riverboat gambler when it comes a derivative batting. And how he really runs the business below all the Choo Choo trains and -- times and actually bars and things so they realize that -- almost three quarters of a billion dollars. And derivatives contracts over the last -- now doesn't matter wrote a a entire treaty is an angry school read. Call derivatives are weapons of financial destruction. -- turns out he kind of likes them and they destroyed his quarter a little bit operationally though things look good from an economic perspective that's good. And terms what he's doing with his cash yet -- with an arm occasionally -- one dozen in Nebraska -- -- aware that he's pretty good. All right Oracle of Omaha heartbreak and about -- by the the company's founder wants to buy it back. It's only one who thinks the chain can be -- I. It just might be you know it -- -- -- resentment company are ready mr. Richard Schulze is his name is a retail legend. He's in his seventies he's got two billion dollars. So the question is why would he want to come back now he's got a lot of different relationships in terms of kind of the fixtures is in the stores. And the airplanes and things of the company owns. Those -- kick off a lot of cash and I also think he genuinely believes the shares are undervalued and -- like a shot at turning around now. None of that includes an actual plan for turning around best -- owns 43 odd million retail feet. And they got to sell something that someone I don't know if you go there -- -- on go -- plain people their site itself no customers. Yeah yeah that is a big problem when you're selling things the -- right another. Big gap story this morning trading firm Knight capital is being saved despite a terrible trading -- last week we spoke about acts what is the full story there. Yeah there there are gone a little bit hat in hand and the full story really no matter what happens and -- and -- trigger -- and listen it's too bad what happened because this was truly has offered clinched. There is nothing nefarious going on they weren't up to shenanigans or -- -- things got screwed up. They -- bad trade meaning bed that night didn't distribute that no taxpayer money was lost on this the market just took night and they did what the market does which is take a ton of value on the company. And now night which was formally and up until Wednesday. -- Tuesday of last week. I'm pretty well respected operation and now -- going hat in hand and some folks are chip and ends I think -- gonna survive. I believe in my opinion anyway it's another reason to be -- in this market because you know old boy -- happened but because it fixed itself. Very fast without having to wait for the SEC to come in without having to wait -- -- all kinds of people by regulators that are on the taker knows what they're doing. -- fix all this by itself and so we don't that's great and they're free market guy that's fantastic -- Everybody else and not just move on that's been -- next -- exactly braids gone by there's nothing -- -- stuff weight behind nothing to see here folks keep winning. If let's take one look at the -- right now. That's up about 32 point so we'll see where it's going today Jeff -- great to see -- is a -- -- that his own -- and -- idea Baghdad I'll give great week to ask you to.
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