Karen Finerman

The margins in that business are gigantic. And then they have this extraordinary retail business. And so together you're trading, it's trading at about 28 times earnings. It hasn't been here probably ever in its entire history. So that's one that I've been adding to that I like.

The margins in that business are gigantic. And then they have this extraordinary retail business. And so together you're trading, it's trading at about 28 times earnings. It hasn't been here probably ever in its entire history. So that's one that I've been adding to that I like.

Right. Well, for you guys, that must be all the time, every day.

Right. Well, for you guys, that must be all the time, every day.

Right. Well, for you guys, that must be all the time, every day.

I don't know. I think it's 50-50. The thing that's so unusual about this particular time is that it seems to be a self-inflicted wound, right? That I think we could get out of this fairly quickly if we had some clarity. The market hates uncertainty. So even bad news with certainty is better than vague uncertainty with no news. So it's hard to know.

I don't know. I think it's 50-50. The thing that's so unusual about this particular time is that it seems to be a self-inflicted wound, right? That I think we could get out of this fairly quickly if we had some clarity. The market hates uncertainty. So even bad news with certainty is better than vague uncertainty with no news. So it's hard to know.

I don't know. I think it's 50-50. The thing that's so unusual about this particular time is that it seems to be a self-inflicted wound, right? That I think we could get out of this fairly quickly if we had some clarity. The market hates uncertainty. So even bad news with certainty is better than vague uncertainty with no news. So it's hard to know.

Could the president just switch strategy and say, all right, we've got 15% across the board. That's it. That's the deal around the world. I think the market would rally tremendously. But I'm also not optimistic that that will happen in the short term.

Could the president just switch strategy and say, all right, we've got 15% across the board. That's it. That's the deal around the world. I think the market would rally tremendously. But I'm also not optimistic that that will happen in the short term.

Could the president just switch strategy and say, all right, we've got 15% across the board. That's it. That's the deal around the world. I think the market would rally tremendously. But I'm also not optimistic that that will happen in the short term.

What is covering? So if I'm short Q's against a portfolio that has exposure to the max seven, I'll buy some back. So I bought some back. Often I own puts that are, I'm not looking to buy puts that start to make money right if the market goes down right from the the point that I buy them. I'm looking at it as protection if the market goes down 5% or more, that kind of move.

What is covering? So if I'm short Q's against a portfolio that has exposure to the max seven, I'll buy some back. So I bought some back. Often I own puts that are, I'm not looking to buy puts that start to make money right if the market goes down right from the the point that I buy them. I'm looking at it as protection if the market goes down 5% or more, that kind of move.

What is covering? So if I'm short Q's against a portfolio that has exposure to the max seven, I'll buy some back. So I bought some back. Often I own puts that are, I'm not looking to buy puts that start to make money right if the market goes down right from the the point that I buy them. I'm looking at it as protection if the market goes down 5% or more, that kind of move.

So what I think of is sort of insurance with a high deductible. I'm going to take some pain the first 5% down before that hedge really starts to kick in. It'll start to move, but it won't. It'll really kick in the lower it goes. And when you own those and the market's going down, you're like, oh, thank God I own these puts. That's the time to sell them.

So what I think of is sort of insurance with a high deductible. I'm going to take some pain the first 5% down before that hedge really starts to kick in. It'll start to move, but it won't. It'll really kick in the lower it goes. And when you own those and the market's going down, you're like, oh, thank God I own these puts. That's the time to sell them.

So what I think of is sort of insurance with a high deductible. I'm going to take some pain the first 5% down before that hedge really starts to kick in. It'll start to move, but it won't. It'll really kick in the lower it goes. And when you own those and the market's going down, you're like, oh, thank God I own these puts. That's the time to sell them.

It's hard to do, but almost always it's the right thing.

It's hard to do, but almost always it's the right thing.

It's hard to do, but almost always it's the right thing.