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George Soros the billionaire investor friend to the left he buys a seven point 9% stake in JC Penney.
And look at the stock up big this morning near 5% -- let's bring in John Layfield from sunny but you know I think he's in on on -- Bermuda.
Yeah you'll have served in the united driving destroys it what you make of that joy to forget the politics for a second.
He's gone -- -- fishing do you think he's made a good investment.
No I don't -- out I don't question mr.
Soros is a great investor -- business he also has other retail place he's invested a Home Depot.
A Wal-Mart which I think -- -- place this is his third biggest holding behind city and AIG so this is a significant holding.
He obviously like -- mr.
Buffett is making a bet on the American consumer are returning.
Is it may be a real estate play I -- all of a lot of these.
Store chains sit on real estate -- more valuable than the the stole businesses -- what about that.
I think it could be looking JC Penney has not invested their stores we talk about the apple retail that that is a unique experience going into Apple -- be able to get such wonderful service.
As apple provides and are having a bit of a hard time.
Most people going to stores as a storefront display and they go -- -- online -- calls JC Penney has not invested their stores.
They have lost all of that customer service turning our retail giant around the block -- JC Penney is a very tough thing to do especially with a look at what Wal-Mart did in the UK.
They're offering same day delivery for groceries -- buying alliance -- was fresh record -- New York.
That is the future now how quick we get -- you know varies depending on what you believe.
But JC Penney is way behind the curve and I don't think they can catch up.
Two and a half percent annualized growth GDP -- -- what do you make of that.
I think -- so what's your guess earlier had said I think it's not that great comparing how much money has been -- put into this economy.
Sure we have the largest as you know her well and edit and have highlighted very well we're the largest stimulus in the history of mankind.
Forty cents out of every dollar we are borrowing from somewhere else to put into this economy.
And Wheaties -- so much money for quantitative easing.
Through stimulus packages were only a two and a half percent.
This is not terrible but this is not good and that's all we're getting out of jobs numbers out of GDP out of consumer spending.
It's just it's not terrible but it's not good we're really in a stagnant environment right now back to the beach John and what is it that -- robinsons the department store chain in and Bermuda that it will be very good every third and well a British overseas territories and what -- -- -- -- -- -- -- -- -- -- -- Like this maybe likeness.
-- attractive option -- -- -- -- -- -- --
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