MARIA: WELCOME BACK, BITCOIN
BUZZ.
SHARES ARE PULLING BACK THIS
MORNING.
GOOD TO SEE YOU, SEAN.
BE A BITCOIN ETF?
>> I THINK THERE ARE SEVERAL
FILED.
I THINK ON THE THE FISCAL SIDE
THAT WOULD BE A CHALLENGE AND IF
THEY EVER PAST REGISTRATION AND
IN THE FUTURES AREA, PRICE OF A
FUTURE DISCONNECTS FROM THE SPOT
PRICE AND YOU GET THESE THINGS,
AND SO YOU COULD ACTUALLY GET
THE BET RIGHT AND THE DIRECTION
OF THE UNDERWIRE BUT STILL NOT
MAKE MONEY.
MARIA: LET'S MOVE ON TO THE
BROADER MARKETS HERE BECAUSE WE
$6 TRILLION IN MARKET VALUE
GAIN, WHAT ARE YOU SEEING IN
TERMS OF YOUR CLIENTS RIGHT NOW,
ARE THEY STILL BULLISH?
>> THIS IS MY BIRTHDAY, BY THE
WAY.
MONEY IS FLOWING INTO PROTECTION
STAGE.
MARIA: 1 AND A HALF BILLION.
>> WE HAVE SEEN A SHIFT AWAY
PRODUCT BASED ON EUROPE AND
GLOBAL PRODUCT WITH NICE
DIVIDEND ATTACH TODAY IT THAT'S
GATHERED SOME ASSETS,
VALUATIONS, I THINK THERE'S WAYS
TO FIND BARGAINS IN THE U.S., IF
YOU LOOK AT LAND, RESEARCH OR
MICROSOFT WHICH ARE TWO HOLDINGS
IN ONE OF THE ETF'S, THEY
GENERATE $31 BILLION FOR FREE
CASH AND RAISED DIVIDEND FOR
10%, IF YOU WANTING TO BACK TO
BITCOIN CONVERSATION IN PLAY,
BUY TECHNOLOGY NAMES TO INVEST
IN AND SPECULATE ON THE OTHER
SIDE, BY BYE CHIPS AND STORAGE,
IF YOU WILL, AS OPPOSED TO
BITCOINS.
JOHN: YOU HAVE BEEN IN FINANCE
FOR QUITE THAT LONG.
>> DO I LOOK THAT OLD?
JON: DOES IT LOOK LIKE A BUBBLE
AND WHAT DO YOU TELL INVESTORS
ABOUT HOW TO PLAY IT?
>> OF COURSE, IT LOOKS LIKE A
BITCOIN --
MARIA: ARE YOU TALKING ABOUT
BITCOIN OR THE MARKET?
>> BITCOIN.
>> THAT'S THE ASSUMPTION THAT I
MILL ENAILS AND WINKLEVOSS
BROTHERS, WE ARE DOOMED IF
THAT'S WHAT THE FUTURE LOOKS
LIKE.
[LAUGHTER]
DAGEN: THEY HAVE LEGITIMATE
BUSINESS, BITCOIN EXCHANGE.
THEY ARE BETTING ON IT BUT THEY
ARE TRYING TO MAKE IT AN
ESTABLISHED ASSET.
MARIA: YEAH.
>> MY ANALOGY IN GOLD RUSH IN
180's THE PEOPLE WHO MADE THE
MONEY WERE THE DRY GOODS STORE,
EQUIVALENT OF DRY GOODS PROVIDER
AS ARE THE TECHNOLOGY NAMES AND
SO RATHER --
JON: PREPARED TO WORK FOR IT AND
NOT EXPECT TO GET LOADED
OVERNIGHT.
>> EXACTLY.
I THINK THAT'S THE ALLURE.
MARIA: TWO-DAY FED MEETING, FEDS
EXPECTED TO RAISE RATES, IMPACT?
>> I THINK THEY WILL LOOK AT
WAGE GROWTH AS OPPOSED TO OTHER
THINGS TO DETERMINE WHETHER OR
NOT THEY SEE INFLATION BOWB LG
UP AND THAT'S THE ONLY WAY YOU
LAW IN TECHNOLOGY THAT'S DRIVEN
DOWN THE PRICE OF TECHNOLOGY,
MORRIS LAW FOR INFLATION TAKING
PLACE BECAUSE OF THE TECHNOLOGY
THAT MAYBE MUTING INFLATION AND
SO THE REAL ENEMY OF THE FED IS
TO TAMP DOWN INFLATIONS, THEY'LL
BE CAUTIOUS AS THEY LOOK AT
THAT.
IF WE GET GOOD-SOLID WAGE GROWTH
WITH EVERYBODY HOPES, THEN MORE
AGGRESSIVELY RAISE RATES.
>> I THINK YOU LOOK GOOD ON YOUR
BIRTHDAY.
>> THANK YOU VERY MUCH.
>> DO YOU SEE THAT CHANGING
SIGNIFICANTLY WITH INTEREST
RATING GOING UP?
>> A LITTLE BIT.
THERE'S GREAT YIELD AND DANGER
OF BUYING DIVIDEND AND
HIGH-PAYING STOCKS BECAUSE THEY
TEND TO DISAPPOINT.
WE WOULD BUY FREE CASH FLOW.