the longest winning streak since december for the week still green across the board boosted by rate cuts hopes that a started last week with the jobs day. i would only caution all of this, i'm prized the market isn't reacting more. dallas fed president lori logan said rates may not be restrictive enough, so you are getting some fed if speak saying maybe rates need to stay higher e for longer -- jackie: i think the fed knows it's not really coming out with what it's going to do, and i think the markets got it wrong once again. we've seen this trend. market gets excited about something, it gets excited about what it wants to hear, not listening to actually -- brian: right. and did not pay a lot of attention to that consumer sentiment number. taylor: bingo. and the inflation expectations in that number too, really worrisome. not worry esome is charles payne. "with making money" starts now. charles: thank you all very

much. the market worry when it wants to worry or when it's too late. i'm charles payne, this is "making money." breaking right now, we are seeing a bifurcation in this market. it's been an amazing may, but it's been stagger all of the names you normally wouldn't hear about like utilities. when will the magnificents step up, because at some point it's going to be needed to keep this rally going. although i've to got a special guest who says there might be a changing of the guard. should i stay or should i go? diane swan breaks down how inflation is clashing with the fed's thinking, and i have barron davis joining me, now the host of going public, a company about start-ups. amazing stories. i can't wait for his thoughts on america's entrepreneurship. i'll also ask who's going to win the championship this year. and my take on mcdonald's expect unhappy meal as the struggles of middle america continue. all that and so much more on "making money." ♪

charles: all right, so the stock market, it's sort of just, or you know, listen, it keeps moving higher. it's been a compelling move because it's been led by utilities, right in look at this. over your last five sessions, all sectors have been higher, so the same tide is lifting all ships. but if we look back over the past month, your two classic, traditional safe havens, utilities and staple, really have been the only sectors that have enjoyed strong strength of we have seen signs with some of these sick cyclical areas "america live", they've held up, but only two moves up -- moving up. we drill deeper, and we can see more biif fur if case. the bank index has come roaring back after bouncing off key e technical levels in april. it's made a stealthy move and all of a sudden it's at new highs. but on the other hand, regional banks are really a country mile from their all-time high, and they have a whole lot more work

to do. here's the thing, folks, the issue is the action in the magnificent seven and not all of them below -- [laughter] not that magnificent seven, a although they are fantastic. we're talking about the accept stocks that will pour the next industrial revolution -- power. their annual income growth has been and will be mind-boggling, but massive buybacks have also played a role, and despite the big news out of apple, these company are poised to buy fewer of their own shares. remember, in the movie version of the magnificent seven it was a small town so fearful of local marauders that they had to hire gun sleepingers for -- gunslingers for help. they wanted to mistake sure the towns folk had the confidence to survive without their help. similar situation with the stock market. it's been mired in fear despite the fact that we've had this strong may because the bottom line is investors still maybe are not sure that the thrallly can go on without the

gunslingers leading the way. joining me now, lance robertson. lance, i do want to get a sense from you how big of a role does the magnificent seven and some other mega-cap tech names like semiconductors have to play a role for a sustained rally? >> well, it actually needs a lot. and the reason is, is that if you take a looked at the s&p 500, the top ten stocks make up about 30% of the index, gave or -- give or take, which means every dollar put into the s&p 500, 30 cents goes into those 010 stocks. so -- 10 stocks. so if those guys aren't leading, it's going to be hard for the rest of the market to to drag up the index accordingly. we did see system underperformance from meta and a couple other stocks, apple in particular the last couple months. we need to see more improvement if this rally's going to continue. charles: so beyond the fundamentals for these names, we see insider selling has been picking up. first it was a little blip on

the radar, now getting bigger. some believe buybacks are going to fade. so with respect, again, for the magnificent seven, does that both bother you at all? >> look, at the end of the day, charles, it's about a earnings. if you take a look at the recent earnings session we just went through, the only companies that are really growing earnings and, most importantly, profit margins are those big 10 tech stock companies. you strip those out, we've not had any earnings growth in the s&p for the last 2 years. so it's going to be very important for those companies to continue to generate earnings. and, of course, a big part of that is those buybacks. apple and google will make up almost 18% of the buybacks alone this year, so that's going to help support that market because corporations have been about the entirety of net purchases of equities over the last few years. charles: it's amazing, isn't it? let's talk about the names rights now d chip names, which ones do you like? >> we recently, during the downturn in april, we added to

the invid. >> and amd. they're -- nvidia and amd. also, you know, if you want system diversification, broadcom is also a good company, texas instruments in that space. also you've got to look at the manufacturers like applied materials and taiwan semiconductors, also important. but if you really don't know where to put money in the chip space, you can always use an etf like smh which is the semiconductor sector in your portfolio that gives you broad diversitiuation -- diversification across that space. charles: taiwan semiconductor, great news today. i know you've been rebalancing exposure to wrote tilts. what do -- utilities. what do you like about the sector? >> it's all about a.i. at the end of the day. one of the things that's been leading the market has been this whole 56789i. chase, nvidia, amd, microsoft, amazon. the data centers are very important to the structure. the chips that go into it. but you've got to have power for that. and one of the big things over

the next few years is going to be developing more power infrastructure to deliver the electricity requirements we need not just for a.u. e, but also electric -- a.i., but also electric vehicles, the computers, phone, everything else we're doing can. we just don't have enough power to continue to generate that, so companies like american electric power p duke energy, the new spin ioff from general electric, the g ev is that symbol there, those are all providing that infrastructure to delivering power and the delivery of the power itselfful they've been on a great run. they're overbought short term, but i would look to add on pullbacks when you can. charles: yeah, absolutely. hey, lance are, great stuff, my man. have a fantastic weekend, and let's talk next week. >> absolutely. thank you. charles: all right, see ya. you too. my next guest also saw that april decline as a buyable dip. i want to bring in key adviser group ceo eddie ghabour. eddie, i agree that the market

was due for a pullback, but my question is was it big enough in us with it -- was a 5 percent pullback big enough considering how far the market had come? >> charles, i think one of the interesting things with the selloff in april was there was a lot more damage done to names than what the broader index actually indicated. i think that was enough and a good industry point. now, i am a little concerned heading into next week. the vix has come down, yields have is are come down. and this rally's been on very low volume heading into a cpi print. so if that are kp if i print if comes in really hot next week, short term the i could see another pullback that could test those april lows, but i think those would be good entry points, and we would continue buying that dip in anticipation of what we think will happen this summer. charles: yeah. in fact, just to ping on what you're saying, nasdaq came out the gate pretty strong. you had a combination of things from inflation expectations to a couple of fed if officials throwing cold water on, you

know, interest rates. so, again, they react, i think, more sensitively than any other major market. i want to pick up on your summer rally theme. walk us through the rationale there. >> so the rationale is i think this market and the bond market is telling us that we may get some softening on the inflation data that will be perceived as good news, and then we'll get weaker economic data. we're in a time period right now where bad news is good news because everyone wants the fed to cut rates. so i think that will keep that narrative in play heading into the summer months. but i think if the fed cuts rates, that'll be a huge policy mistake, and we'll probably start selling at that point in time. it'll be perceived as good, it'll suck everybody in, and that's when we'll be looking to get out, because i think inflation will reaccelerate regardless to at the e end of the year and the 10-year starting to go back towards 5%, and i think you'll hear the fed having to raise rates again next year to get this inflation down.

so i hope they're prudent, and they stay where we are. charles: yeah, i hope they're prudent too, although i wish they'd start more aggressively. i think if they'd been more aggressive at the beginning, this would be a moot point now. i understand you're looking for a changing of the guard during the summer rally, but if you think rates are going to be an issue, then you're looking at other areas. where are you looking right now? >> charles, we looked and said, okay, what can do well regardless of what the fed does and take the guessing out of it. and since we think we're going to be in a higher inflationary regime, we want to own things that do well in an inflationary if environment. we've been buying energy. we took down some of our tech plays and went into energy, industrials, emerging markets. we think those three will outperform the s&p over the next few months x. then the one that's been a pain in our rear end has been small caps. we got in in january. every time we get to that 204 level and we think it's going to

break out, it keeps going down. we're being patient there, but small caps would be the fourth area that if we're going to get this broadening rally that we need to be healthy, you can outperform the s&p. charles: before i let you go, i i know you also like commodities. commodities are tough, right in most of the folks watching don't necessarily informs the in them. they -- invest in them. is there a way for people out there to have exposure to commodities? >> there is. charles, we just bought an etf, pdbc, is the symbol, and it's a nonk1. k1s are a pain in the butt for individual families when heir trying to buy commodities. it's got oil, it's got copper, it's got natural gas, wheat, corn, silver, gold. so it's a great way to play commodities. we will look to get this position to 10%, because i think commodities are going up. and you can play the industrial individual equities and the

energy equities, again, indirectly tied to that play on inflation. and and i think being overweight those areas are a way to take the guessing out of what the fed 's going to do. charles: all right. folks listening on the radio, that's papa, delta, bravo, charlie. have a great weekend, eddie. talk to you soon. >> thank you, charles. charles: we know the epicenter of concern for these markets had been banks, mostly because of exposure to cre, but there may be a diamond in the rough, an unlikely one. also money is broken. someone who may have a clue on how to fix it because she knows everything about why it's broken, lynn also aen is going to join us right after this. ♪ you're beautiful like diamonds in the sky. ♪ eye to eye, so alive ♪ we'reei beautiful like diamonds in the sky ♪ and more about discovering magic.

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understands why money appears to be broken more yearly, lynn alsoen joins us now. lynn, i just want to implore all the audience, everyone watching, they've got to see your half hour overview of your new book, i think it's amazing, i love it. i think it should be teaching 101, congratulations. i'm thinking weimer, germany, but is there any different deference between that and deficit spending with the u.s. dollar? >> well, thank you for recommending the video, so people should check it out. basically, the difference in speed with these kind of deficits is largely determined by magnitude. so countries that have liabilities in --, that they can't print, for example, why or mar, germ first or argentina today, countries that have their liabilities in their own currency, they tend to go

through a similar phenomenon, it just stretches out over a much longer time period with generally lower magnitudes. and so i think that's what we're seeing in the united states, that that's what we're seeing in japan for people who are paying attention to the yen devaluation, these all sort of the same trajectory, just a much slower pace. charles: does that a slower pace give us false confidence? >> i think it does. i think it gives us a sense of invince about. i think over or the past 30 years people that have been very concerned around the debts in developed markets have kind of come off as premature, and i think people took the wrong view from that which is basically e that the deficits and debts don't matter. one tailwind that we had over the past 30, 40 years was structurally declining interest rates, and to large and larger e debt cans were offset by lower interest rates, so the interest expersons was still manageable. however, once we hit zero throughout the developed world and started bouncing sideways to up in terms of interest rate, those debts and deficits are

becoming less sustainable. some of the things people learned over the past 20, 30 years, i think a lot of those are the wrong lessons. these things start to matter on a more significant scale even in developed countries. charles: i think it was turkey key i was reading this week said inflation finally peaked at 70% -- [laughter] and i'm thinking, okay, well, turkey is known for erdogan fires at, whoever's in charge of their central banks at a whim, right in how critical is the role of the central bank, and they ignore if inflation? it seems like they're between a rock and a hard place because on one hand if they keep hiking rates or allow rates to go up, it's twoapg to have a serious, painful impact as well. >> yeah. generally speaking, countries that don't have an independent central bank, they tend to have a lot more currency problems because the monetary policy gets a lot more captured by short-term needs of the administration. whereas countries with a fairly independent central bank, it

generally takes a lot longer for them the get captured, but it generally happens over time. once debt to gdp if gets to a high level, the options for otherwise somewhat independent central banks become a lot more limited and tools more blunted when it comes down to slowing inflation. basically, either way it kind of leads to the same outcome, but again it's a matter of speed and timing. charles: all right. so i've got less than a minute go. is there a non-painful solution to all of this? >> yeah, i think, unfortunately, any sort of major disruption or switchover of these types of things tend to be pain. for example, in an emerging market when their currency gets so bad that people switch towards dollars and the country dollarizes either from the bottom up or top down, that tends to be painful for people on the wrong side of it. i think the best thing people can do is learn about what's happening, educate themselves around the ongoing money supply growth, the ongoing large debts and deficits and position

accordingly. own assets that are scarcer, you know, use debt appropriately, cautiously and basically try to position themselves on the right side of it to at least minimize the pain that they experience in their portfolios and in their financial lives. charles: all right. well, if they're going to educate themselves, they should start with that 30-minute video. it is fantastic. lyn thank you very much. appreciate it. >> thank you. charles: all right, folks, let's get to some of your money mail. my ode to fog or horn leg horn to kick off yesterday's show got a ton of reaction. joe quiting -- tweeting, my favorite guys, foghorn and charles. [laughter] todd says, well done, charles. rob luna, of course, tweeting, man, i was crying watching that before i was on yesterday. made my week. will be watching old foghorn clips. and act goodser says currently in the united states president trump is the road runner and joe biden is the while e. chi e quote. that's making me think.

go to @cbpayne, follow me on twitter, and we like to share your thoughts. now, forget about the bogeyman if for a minute. my next guest says jay powell's worst nightmare is cutting rate es and then having to raise them. diane swan is here right after this. i'm spending on 3 kids in college. with empower, i get all of my financial questions answered. so i don't have to worry. empower. what's next.

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charles: all right. well, my next guest says that the lyrics of the clash's iconic hit should i stay or should i go has been ruminating in her head. if i go, there will be trouble. and if i stay, it will be double. joining me now, kp if mg chief economist diane swonk. you've got your report or titled navigating policy purgatory: inflation and the challenge for the fed. finish if what would be more unforgiving in terms of a mistake, cutting too son or -- soon or not hiking enough? >> cutting too soon because what we saw was jay powell did, he was asked the question about stagflation. he lived the 19700s, as did i. i was a little young orer than him back then, but i remember it well. and we had years of double-digit inflation, excuse me, during that period which i think is important. but more importantly, what got

us there. the biggest mistake if the central bank there, under pressure from political forces, was to cut too soon in an effort to stimulate employment x that ended up coming back as stronger inflation and higher employment later on and created that stagflationary, rising inflation and rising unemployment rate that we had in the 1970s. so that's high it's the worst of the two mistakes. what he sees now is, what he would rather see is by holding rates higher for longer, we have a kinder, gentler cooling of inflation in its last mile. of it's not coming from a double-digit pace. and to do that without the pain of ap a increase in unemployment. that's the goal. and that's what he's trying to shoot for, and i think that's where we want them to be. charles: you know, here's the thing though, he did warn at jackson hole that there would be pain. i guess we could call it the enfaults pain speech -- >> 2022, i was there. charles: to your point -- yeah.

[laughter] yeah. the markets reacted the way the fed wanted it to react. and, of course, arthur burns in his biography, to your point, said he a had a lot of political pressure. i don't know that the powell has the same political pressure, but we've heard folks in the administration hint of low -- more cuts, even president biden. but last week he said there was no stagflation. however, just with news today, low income consumers now are being mentioned a lot more many in these earnings reports, unlike anytime post-pandemic e. and most of them are pulling back with outside of maybe a few experiences, right? earnings expectations are a starting to pull back and, of course, you know, then we had inflation expectations from the university of michigan today. finish so maybe demand's slowing on one side, inflation going up on the other side, isn't that the very core part of the stagflation formula? >> well, remember, like i said, stag the nation, we had double-digit inflation for year, and and we had unemployment peak

if out at a 9% during the 1970s. charles: right. >> and then have to go up into the double dimming do jilts to get rid of this, and it was a 2-decade-long inflation. inflation tripled in the 1960s during the height of the vietnam war. also the then-fed president was under political pressure by a different president than the one in the 1970s, during the 1973 response to opec and the oil embargo. but it was two mistakes, not just one. it was several mistakes. charles: right. >> cutting too soon, prematurely. is so we are seeing this situation. the best thing for the fed to do now is to get inflation under control especially for those low wage with consumers as we do know that wages and the employment cost index for accommodation in food service services, for retail, they've slowed town to a pace that's now below the pace of inflation, and that's concerning for them. these are the workers that had their moment where hay got their wages revved up, moved from the -- leveled up only to be

burned by inflation. so the fed's number one with job is to get rid of that inflation. hopefully without a surge in i unemployment. and i think that's the strategy. whether or not we can get there without a surge in unemployment is the unknown, unknown answer to the question. charles: you know with, yesterday mary e daley talked about two paths, and the market actually rallied when she hinted that, you know, maybe a little bit of a spike in unemployment will be the reason to cut rate. but then just today we've had two fed officials throw cold water on that; bowman saying cuts weren't warranted, logan saying policy main be tight. granted, they've both made similar comment in the past, but with it underscores that clash song, right? there's a serious, serious challenge here for this fed, isn't there? >> it is. and, you know, as we get closer to this point of accounting, you're going to see -- cutting, you're going to see the fissures within the fed. another side to that song, it

was the last song that was penned with by the leader of the band, mick jones, and he ended up --9 and the band broke up after that song became a hit. after can be actually, it became a hit after the band had broken upper, but i think that's important because you're going to see more fissures within the fed. of course they should have deference in view as we get closer to this point -- difference in view because it's not precise. this is when it's much more of an art than a science, and that's why you're hearing that. what you're hearing from mary e daley is that what she worries about is the two sides of the risk. one side you can get inflation more entrenched, on the other side when unemployment if rises, it tends to rise in a nonlinear fashion. what that means is it tends to go up quickly. so far we've not had that and we've been very lucky, but the fed doesn't want that either. and if as much as, you're right, jay powell was ready to feel that pain, the euphemism of central bankers for higher unemployment, he isn't any longer. he made that in this clear in

december. and i think most of the fed is now in that position as well. they don't want to see, if they can at all avoid it, a surge in, unemployment. charles: diane, i love the idea of these workers coming out of the shadows and being recognized as essential workers, not, you know, bearing the brunt of other things that have come before them the on this inflation front. great stuff. thank you so much, diane. have a gate weekend. i'll be hearing that song over and over the whole weekend, for sure. [laughter] now, my next guest isn't losing much sleep, i don't think, over the data. while wall street obviously continues to rumble, he does have concerns. let's bring in trend macro chief investment officer don luskin. don, i read your work throughout the week and, you know, you talked about the initial jobless claim jump. for you it feels like maybe a yawner, this debt and deficit time bomb is a concern, but the boom is going to be a hong time from now, and overall, you feel that the economy is robust. do you think the hand-wringing from everyone else is

unnecessary? >> well, you know, we live from headline to headline, and some of these headlines can be pretty scary, and we had one today. president joe biden is going to be quadrupling the tariff on chinese electric vehicles. outright protectionism. let me tell you something about tariffs on china. now, that's a trade war that trump started in 2018. i'm going to quote an ebbs, pert speaking -- expert if speaking in 2019 while this war was still new. quote: trump's tariffs and trade wars are hitting a lot of american manufacturing, especially the american automobile industry, choking it to within an inch of its life. trump thinks his tariffs are being paid by china. any beginning econ student can tell you american people are paying his tariffs, unquote. the expert i'm quoting is joe biden, campaigning for president in 2019. and today he quadrupled trump's tariffs on electric cars coming in from china.

this is hack political experiod yen city with a super-sized side of hypocrisy which would be merely nauseating, except the fate of the global economy's at stake. charles: now, back in after world war ii america did implement tariffs that some say helped to revitalize the economy, particularly after that recession. it was a short recession, but it was the most harsh recession outside of the great depression, you know, a few years later and that there have been times when tariffs played a positive role in this country particularly when we didn't have income tax. is there any role for that these days? because on one hand, biden's going to make americans drive ev iss one way or the other. should he at least make sure that we don't have to drive chinese evs? >> well, maybe protection ifism was called for when alexander hamilton was treasury secretary. he certainly believed so, and he had a very smart program, actually. he wanted to protect nascent american manufacturing business

so that america didn't forever just have to be an agriculture slave to industrial eased europe. but part of the hamilton doctrine was the take the proceeds from the tariff and put it aggressively into government infrastructure projects like roads and towns and, you know, the canals and all the things that made it possible for industry to thrive. charles: right. >> nothing like that's happening now, you know in this is just straight political expediency. there's an election coming up, and we've got a tired, feeble, old president who just wants the look like he's doing something. this isn't alexander hamilton. charles: so i've got 30 seconds to go. how do you invest in this environment, or do you just say, listen, these things are mistakes, but they may not impact the investing markets near term? >> i think you, you know, you put your finger right on it. you know, there are things -- as you can tell, this absolutely infuriates me. but is it so consequential to markets? no. it's rounding error, you know?

thank goodness. the problem is you get habituated to it, you get dumbed down. it's rounding error, rounding error, and pretty soon to get your attention in an election year, a president does something that's not rounding error, then you've got to worry. this isn't that. charles: the snowball becoming the proverbial boulder. >> yep. charles: don, love our conversations, my friend. have a great weekend. >> thank you. you too. charles: all right -- see ya. a lot of people are wondering, will this be the summer of love for the stock market? ken fisher's comparing it to the late '60s. he's done this for us before, but we need an update. right after this. ♪ the summer seemed to last forever. ♪ and if i had the choice, yeah, i'd always a want to be there. ♪ those were the best days of my life ♪

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charles: so my next guest talked to us in the past about this 1966-'68 market comparison, and we want to get an update. fisher investments founder ken fisher. ken, you know, just a moment ago diane swonk and i were talking about the inflation bounce in the '700s and '60s. so we've got that sort of lingering in the way as well. how's that impacting the markets then and now? >> so in '65-'66 -- and thank

you for having me on, charles, as always -- we had a not as big, but similar fast with burst of inflation, and the fed hiking rates because that's what they like to do sometimes because they don't really know what they're going to do. and as i said many, many times, i said on my if new york post column forecasting 2023, 1966 economically, monetarily, market wise, politically, culturally was more like 2022 than any year in history. bar none. and by a lot. and, therefore -- charles: right. >> -- 2023 should have been more like 1967, but that analogy parallel continued in 2024, and it's acting very much like 1966 -- 1968, excuse me, and should continue to. this is 1968 all over again plus a little. charles: right. yeah, you know, it's interesting because, you know, you think

about that just from what we've seen is let's say on college campuses -- >> yep. charles: what we might anticipate for the summer in terms of the uproar in this country, or it's an angry nation. it's a nation that's grappling and certainly at odds with itself. and still you've got an economy that's to got to go on and, hopefully, a stock market that has to go on. how does the market ignore what's happening if we do see similar riots, if we do get craziness that could very well happen? again, a parallel to '68? >> well, again in a parallel to '68 and as i said with neil cavuto on monday, are these protests or are these amateur tests? this isn't anything compared to 1968, and the market blew right through that. why? because this stuff doesn't really impact what the market cares about which is profitability in the next roughly 3-30 months. this stuff is cultural distraction. it is not -- and it could be

political and cultural, but it is the not something that threatens the economy. the economy's doing not perfect, but okay. you know, people, people talk about stagflation quite a lot right now, you've heard that quite a bit maybe? the fact is this isn't stagflation, this is stud-flation. this stock market's been going like a race hers -- [laughter] and even racehorses, champion stud racehorses have to stop and rest every once in a while. charles: all right. so if it is stud-flation, the ambrosia that feeds if, the hay has to be the federal reserve, i mean, right? >> no. charles: and if the federal reserve takes away -- no, the federal reserve? in october the fed gave us the wink expect nod things were going to get better, then in december they said we were going to have rate cuts. it hasn't been earnings, it hasn't been fundamentals. >> you know, whenever i hay --

hear people say the fed as important as people seem to think it is, i always do this -- [laughter] because the reality is, charles, that's not way it works. and people this year, as i say repeatedly, have been playing for the fed to cut rates. and, oh, nothing good can happen if the fed doesn't cut rates while the market, s&p 500's gone up 10% p. a markets all over the world have been at new highs. and, oh, by the way, people had better be careful what they pray for, so history when the fed -- id identities that they are, reactive as they are and never if knowing what they're going to do like they don't -- the reality is simply the history of when they actually cut rates is not typically a happy time. better be careful what you ask for. charles: right. yeah, you know, it's so funny -- yeah. ken, to your point, i've shown many times on this show where initially the move is down and, by the way, the pause if has been amazing for markets in the past, and it's been amazing

right now. love your analogy es, love having you on, ken. thank you very much, me friend. let's talk again soon. >> thanks for having me, always. charles: all right, see ya. folks, we've got a special treat for you. two-time nb if a all-star barren davis has been making a a lot of brim i can't -- brilliant moves off the court. we all want a piece of the action, and the sooner or the better. next. ♪ ♪ you founded your kayak company because you love the ocean- not spreadsheets. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates

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as an independent financial advisor, my promise to you is simple. as a fiduciary, i promise to put your interests first, always. i promise that our relationship will go well beyond just investment decisions. it's the intersection of your money and your life where we can make the biggest difference. [announcer] charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com charles: the ipo market continues to return with the debut of an upscale chinese ev automaker, by the way, going public at around $5.2 billion, the company raised over $440 million. what about smaller companies looking to raise money but not that kind of money? my next most is the host of the

new season of going public. here's a peek. >> welcome to going public, the only show where you can invest in if private companies while you watch. three trail blazing companies will be put to the test by bigtime investors to prove to you their worth -- they're worth investing in. charles: well, he's also two-time nba all-star barren davis -- baron davis. i know you've been real busy since your career in the nba. what attracted you to this show, to this role? >> yes. think for me, you know, coming out of retirement and, you know, i just started my e company, business inside the game, as a management platform. so having an opportunity to connect with entrepreneur, to host them, you know, what we were building is really looking at how to draw attention to great entrepreneur ifs who are building great companies partnered with, you know, fresh

capital the guys who are going public. and the thought around going public was let's bring the entrepreneurs, you know, in a fun, you know, content-strategy show into the audience, into your home so you get to know the entrepreneur, you get to see what they're building. and they're all great entrepreneur and great company doing great thinkings. so for me, it was really like i want to start doing this more. i think that there are multilevels, you know, to investing in entrepreneurs, and i think for us from a content standpoint especially what we're building for big tv, it's all about podcasts, it's all about showcasing and highlighting the entrepreneur. and so when a show like this going public came about, i just had to, you know, be a part of it. charles: yeah. i've been in the market a long time, and i really have lamented the idea that there's a lot of amazing companies that aren't necessarily on vcs radar or for whatever reason not in that

channel, but i think they should have a chance to go public, and i think the audience should have a chance to buy them not at inflated prices. real quick, celine automotive, looking at the cars alone gets you excited. [laughter] >> super or exciting. sue lean has been in business, you know, he's a race car winner, you know, he's, he's a brand architect, and he's built his brand. you know, basically as a boutique label and a cult following. and so, you know, celine is really kyiving in to see, you know, what does the manufacturing business look like, what does the car business look like. and for them, they have a great opportunity to scale, you know? you look at fast furious, you look at transformers, a lot of those are, you know, celine designs. so, you know, a company like that, you wouldn't think that you would have action or an option or opportunity, you know, to invest in a company or a car company that that a lot of these

kids now, you know, are using for racing and also just using for, you know, souped-up cars on the street. charles: right. and i want to let the audience know one of the hottest stocks to have owned in the last two or three years has been ferrari, race, right? there's an audience out there for this, the stock market's out there. cards and coffee also too. i want the get a sense of the other companies from season one,s how are they holding up? >> they're doing well. i think two of the companies have doubled their revenue. i wasn't a part of season one, but, you know, for the show i think giving these entrepreneur visibility, they've all done really well. i think a couple of them have gone on to raise e and complete a round. so, you know, having a show like going public for these higher-end companies and retail investors, it gives access to everybody. and so that's why i wanted to host the show. now, for me, it's like i'll be taking my show and what we're doing for big business inside

the game, and we'll do more mixers, fireside chats, things like that. so we want to be super intentional how we connect, you know, from a macro standpoint, from a television standpoint how do we connect the audience to entrepreneurs but also from an intimate standpoint, how do we show up in various cities and host the right entrepreneurs, the right investors to find the right deal. charles: right. hey, i got less than 30 seconds to go, and i've just got to ask you a couple nba questions. >> knicks, baby, knicks. [laughter] charles: all-world superstar -- all right, we got the knicks, but my man, edwards, is blowing me away. is he going to be the next in line of a lebron, kobe, mj kind of superstar? >> absolutely. i mean, you're watching a young superstar in the making. you know, what i love about him is, you know, his personality9 and the way that their curating his brand off the court, right? there will never be another michael jordan, but there will be an anthony edwards, a household name, you know, for

his style, his charisma and just the way that they're playing this year. he's a determined young man, you know? he speaks, you know, his way into existence, and, you know, he's funny and he's colorful. charles: yeah. he is. you know what with? you were funny -- >> knicks. charles: the knicks got it, baby, we marked you down. they're done, they're going to do it. baron, congratulations. let's catch up again. >> i would love to. thank you so much for having me. charles: all right. see you soon. all right, folkses, in the meantime, the real story today, all week, all year has been inflation and how it continues to roil society, right? now, listen, i know bondholders are getting rich, and they love it all, but it's crushing the masses, and it's crushing companies that serve them. in fact, there's probably no bigger proxy for all of this, for the non-wealthy american, but we know they've been working to beef up traffic, mcdonald's, pun intended. listen, heavy got to stay inside

shrinking household budgets. a couple of weeks ago ap had an article on this, and i'm looking at different newspapers picked it up including the indianapolis business journal. and there was one comment if that was intriguing, right? just to to get a meal at a mcdonald's for one person is close to $10. like you said, you can get better food elsewhere, mcdonald's used to be the spot i could e spend $1-5 per person. their quality hadn't gotten any better. looks like management heard that because corey and others all said it, today mcdonald's, according to reports or, prepared to launch a $5 meal deal at its u.s. restaurants to draw more of the inflation-hit customers back to its outlets. now, this is according to bloomberg who cited a person familiar with all of this. now, the deal would include a mcif chicken or a mcdouble with fries and a drink. franchisees hate this idea. it's been brought up already this year. they rejected it, but they have no choice. no one has a choice because inflation does not go away. all right. that's it for me. over to ashley who's i