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tv   Close Up  CSPAN  December 23, 2011 7:00pm-8:00pm EST

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c-span: the name of the book is becoming dr. q my journey from migrant farmworker to blame surgeon. alfredo quiñoes-hinojosa, a brain surgeon at johns hopkins and this is published by university of california press we thank you for joining us. >> guest: thank you for having me. my pleasure. ..
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>> i am one of the wealthiest 1%. >> what you guys be willing to donate to the department of treasury? >> no. >> stay right here, i have the donation page. i need to do is put in your credit card number and donate for the government. >> that is not going to help anybody. >> you don't want to donate to the government? >> i want our class -- you've heard me. you're being silly. >> i am a video journalist. i would say that what we are doing this on the slick citizen journalism, which is basically when an individual who doesn't have that much training in journalism has to tool of modern technology to capture a live event that doesn't have a background in journalism.
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>> this week on q&a, look at financial reporting with "fast money," anchor and reporter for cnbc. >> host: melissa lee, what you do what you do quiet >> guest: i love that idea. i can't think of anything better in the whole world to do. i think the reason behind financial news really is to help people enrich their lives. and enrich their lives financially, but it really enables them to pursue their dreams. my grandparents came from another country. they came here to the united states. they invest in businesses and eventually invested in the stock market and found five children to college.
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this is how wealth is created in this country and how many generations are able to advance themselves. that is what america's all about. c-span: back to your grandparents, what you did they come here? >> guest: they came here in 1903 is is sore. and i'm time ago from southern china. python is the province, the village. and they came here and started laundry in buffalo, new york. i can't tell you how they chose buffalo, new york of all the places, but they're one of the few and all the places. they started their laundry, had all of their kids were cannot laundry, jn, day out. for some time they thought about the laundry in the building. five kids, one bad. and they made it work. they believed in being here. they believed by making sacrifices their children would have a better life. and to think that just after that one generation later that i can be on tv talking about the u.s. stock market, talking about
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how you can trade stocks. it's absolutely thrilling to me. >> your parents groupware aquatics >> my father grew up in buffalo. another was born in southern china as well. she was the daughter of a wealthy landlord before the communists took over. so as was the custom back then, he had many hassles with three wives at one time. that was a custom that then. my mom was the youngest of the children of the youngest wife. and when the communists came, basically my grandfathers had come you know what, you can use my land. i'm going to take my family to hong kong. so my mom grew up primarily in hong kong he came to the u.s. for college where she studied fashion. c-span: did you know your grandparents? >> guest: i knew my
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grandmother's, both my grandmothers on both sides. and i knew briefly my mom's father, but i wasn't unfortunately lucky enough to have a grieving father taking me to the ice cream truck so to speak. c-span: your grandfather went to college where? >> guest: my father went to columbia university. a lot of my aunts and uncles at university of buffalo, so they stay local. i dad certified the patriots in the family and came down and was able to study at columbia and live with his older sister who had settled down in queens. said he would commute from his story all the way up to columbia university every single day and that. c-span: holiday trip is that? >> guest: that's at least an hour 20 minutes in a study one way. c-span: went to the study and do them? >> guest: he studied computer science. that is funny as the punchcard to program computers.
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that was really at the cost of the computer age. he worked for some time, the later years he sort of lost touch with the computer until fairly recently. he didn't know how to operate a mouse. c-span: way recently? >> guest: he thought everything was on the internet and want to be able to find information. my dad was a very, very smart man. he loves to learn. he was constantly reading newspapers. he read all sorts of stock newsletters. he watched cnbc all day of course. not just for me, but also for cramer and other shows. those are among his favorites. but he had a thirst for knowledge. he was wanted to know what were the best places to go eat, where to travel. c-span: what about mom? what did she do quiet >> guest: my mom is a fashion designer. she designed sportswear until i was born and then my parents actually started a business. they really thought that working for themselves is going to be
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the best way to help their family alone. so that he had a number of businesses during a period when was the drug store in queens. i remember growing up and the common theme with that, no matter what they did and what business they had come to me, my older sister and younger brother while expect it to work at whatever business advice. i was pretty young when they had it at his older sister and brother was too young. so my sister for interests would have to take off everything on a high shelf of the drugstore and i would be in charge. but that is sort of day started a custom upholstered entry pre-business, which sort of tapped into my mom's love and feel for fashion and my dad's desire to create a business he thought would then need.
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we also helped that business along by working on the weekends. c-span: you ended up getting a bachelor of arts in government at harvard. how did that have been? >> guest: as i can save the world by being a lawyer. i thought that i repeat -- actually, i had an abandoned several dreams along the way. i think the job i have is the dream job. i just didn't know about the time when i was 18 or 19 years old. when i entered harvard, i thought it would be a.err. so i took all the premed courses in college and worked at the crimson. but i really loved that sort of environment. i loved the pursuit of the story. when i was there, the crimson not only as is tradition, the crimson is a self-sustaining business. we don't get many found from the
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university. during the timeout is fair, we also took it on the internet. there were very interesting things going on from a business perspective at the crimson i thought that i loved. i love the sense that the business was evolving and you could be part of it and that your story could be posted immediately. i mean, it was very, very exciting. once i got a taste of that time i had to try it. i had to perceive that a little bit more. c-span: networks could not be any different. to show that, we'll run a one minute 20 seconds clip of some of the work you do and then come back and talk about why you do it this way. >> the bull market just hours away from its two-year anniversary. the aging bull markets next move. facebook defense netflix, offering movies. if the netflix runover for good? down and dirty street fight between bernanke in the dollar and the euro.
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we'll tell you which currency will try out. this is "fast money." was it really all about the decline in oil? are we have a clear? as joe says we slowly start seeing risk of mccann and therefore coming out of technology. yesterday we saw the technology specifically sharply lower. overall one third of that risk was off trade. there is high range the rest of the night. what does the nasdaq look like from a technical perspective? heading into the bull markets to your anniversary tomorrow, what we'll say higher for an end to the route? joining us now israel shall church and of floodwall.. great to see you. higher oil prices domenica team. they have the higher oil and in a certain point the oil stocks stopped outperforming in the oil
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stock didn't participate again. you got in there in short it. c-span: have you do that? >> talk really fast? a lot of hockey. c-span: words like selloff top desk. with a prompt us quite >> it's worked for proprietary trading on wall street firms trade their own books for profit and assorted like daytrading. it's usually flat out of oppositions, but it's really their best proprietary ideas. so when we were brainstorming for the element to the show, we thought it's like a prop desk. we think the idea no one else out there thinking about. so we like to start a job in the wall street term so that the average person can feel like they're getting a glimpse of what it's like to be on wall street and they are getting that sort of inside knowledge. c-span: what you envision your audience looking like on an individual basis?
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>> guest: i remember talking to the very active investor who sort of the home gamer. but also some of the young professionals on wall street, the people who can maybe use some of the tips from the traders we have on the desk. bad decade since experience trading the markets. further observations in terms of price action, reaction to certain events like the japanese earthquakes, that all can be learned from by the new generation of traders out there. any kind of act as investors, whether it's the home person who's trading their own portfolio or the active trader on wall street. i know just from talking to people that we are on the trading floors. but at the end of the day when the markets are closed and people are wrapping up their day, they still have fast money on. c-span: recover the government and politics from washington d.c. what does washington look like from your desk as you sit there talk to america?
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>> guest: without making any sort of biased comments because i think in and talking about the stock market, one is always that nasty. and i've always said that as a host in as a traitor. you're not necessarily a republican or democrat. you looking at the impact of what government is doing on the financial markets, whether it be the oil markets are trading for wall street firms. i think that increased regulation in general visa restrictions for companies. restrictions generally articulate thing. so if you can derive from that one is antigovernment, that is when you're a capitalist and you want the government now come you can draw that conclusion yourself. right now in general, you're taking a look at things like restrictions on how much credit card companies can charge, interchange fees and you look at slicing that source of revenue.
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obviously that's a negative impact on those companies. so government is not necessarily bad or good or capitalistic or not. they do what they do. we have to figure out how you can trade that. c-span: what kind of grade would you give harvard for teaching government? >> guest: that's a good question. i think harvard is an amazing place. i think they would get -- i think they would get an a. the shortfall in terms of the a- or a+ is on my part because i had so much time at the crib and i probably didn't spend enough time in class. c-span: expand the crimson to summon his never heard of it. guess who is published by harvard university undergrad specifically and it's a self-sustaining company derived its funding solely from advertising sales, prescription sales. so it doesn't rely on the university and the point is you don't want to be beholden to the
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diversity for sending a status which are primary purpose is to cover the university in its affairs. you don't want to be biased and that is sort of the thinking behind. so it was such a great lesson in journalism and being unbiased and making sure that you have the complete sort of view of things so you can assess them for what they are. there's no conflict of interest. >> about to the beginning, talking about your grandparents and father. how did you get enough interest in the learning issue able to get into harvard? >> possess the tiger mom questions? >> guest: where did you get that and they taste to learn? >> guest: i felt all the time that there was no choice in the matter, that this was put in a job was as a kid.
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there is outdated and are best when it comes to studying and practicing violin or anything like that. growing up, that is just what you did. you didn't talk back and there were no alternatives. there were no play dates. i didn't go and play dates. we had each other to play with. my sister and younger brother like a self-sustaining unit. the expectation was my parent's job was to work hard and support us so we can go to college. our job was to study and make it to college. in terms of god how did you get into harvard versus another college that might've been easier to get into, as the exit tatian you shop for the stars. the stars at night he was harvard. for my brother was columbia. so it wasn't my parents were so rigid that you didn't in two harbors are your filter, but they expected us to live up to our potential is.
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then there is just no way around that. c-span: it's been in the news a lot lately. what you think of the fallout from all that? >> guest: there some element of truth. i think that the authors thought it the best. it is not about asian ideals, the hope that your children will work hard in the to their potential and the biggest believer of their children. it's really the american dream. that goes to the opening question. because if not all about the american dream for her children to do better than what you've done? that's the whole point. that's why parents become parents. they want their children to live up to their potential, whatever that may be. so i think it is interesting people came away from the discussion again, is the asian way of parenting better?
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you can call it the asian way of parenting, but at heart it taps into american ideals. >> have you ever been treated differently because american? >> guest: absolutely. all the time. even professionally. i've gone to many remote locations for very issues. please says that asian americans don't go. they don't live. i did a coal mining story, similar to a similar to a small town in west virginia. standing out there doing a standup reshoot the camera. and somebody comes by and shouts, connie chong. that is the only asian americans that they had contact with as a newscaster. and to me, that's shocking. it's a sad state. i'm glad i can be out there and she's not the only one. >> for you as katie tom? where did she work? and explained that.
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>> at the time she was one of the local anchors for the five at 11:00 news. on abc. and she was for me the first asian-american, chinese-american i'd ever seen. i just told her i was a big fan. i watched her every night on the 5:00 news. i had to become a news counselor when she grew up. she invited me to this site. i have a picture on the set, sitting there. so was a thrill years later. i was with bloomberg and redistribute the contents for channel 11 here in new york. she switched over to p. i x. we actually had a moment where she talked to me. she said let's get the latest business headlines. let's go to melissa lee up lunenburg. i can't believe this is happening. c-span: have you talked to her since then? >> guest: i have not. c-span: issue still active?
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>> guest: still on in the city. c-span: your experience, when he got out of harvard where did she go? consulting about what? >> guest: this is the restructured business. i did a lot of casework and financial services specifically in boston at the time when i graduated in 1995 there was a lot of bank of boston merging with one another, gobbling each other. there is a lot of work to be done. not only did you learn how to program a spreadsheet, yes they did that come are put together a powerpoint presentation, those are all valuable skills. but be on the ground for days a week or so, we are sort of living in reading that particular business. that is a good experience for later on because it really gave me an insight as to how things can be made between bosses and
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the people who they manage. a lot of the work we did because it was consolidation work with restructuring, which meant layoffs. i gave you sort of the human side of things. go in there and do workflow charts for you ask people what do you do? at the end of the day he put the chart together and decide who to cut. it makes a really real. when i reported my office today, you can say so-and-so company laid off 10,000 people. i will always never those days when i was at a bank and you would give news to people and walk into the restroom shortly afterwards that most people would be in there crying because they don't know what else to do. they've got a family. they are the sole income provider in the family. they've got an aging parent. it put a face to the hope name. c-span: how long did you do that? >> guest: i did that two years or so. >> your first television job
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came when? >> guest: they came in 1997. i left consulting not because they didn't enjoy it. i really did, but i sort of got to a fork in the road where i was in a program work you are doing well, they would basically pay your way through business school if you came back and worked for a certain number of years afterwards. so i was deciding whether or not to do that. and i can never forget the conversation i would have. obviously you go to business school and get the education. how can you turn that down? it's a no-brainer. i set aside i'll try this, i will always wonder if i could've made it. i do want to live without regret. business school will always be there. i'm telling you this story i spent five seconds, but this is obviously a long drawnout decision. >> what was his reaction? >> guest: i believe he said i think you're making a mistake, that you can come back home.
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as a home while you're exploring the tv thing. >> what does he think today? >> guest: obviously he -- he told me the wrong thing at the time. but it was a big gamble. for asian parents when he went to see your child succeed in the past that they choose is not a clear one, there are concerns. so i'm glad he told me those reservations and away because it made me work even harder. i didn't want this to not work out. >> the first job was at my location? >> guest: cnn, which is now defunct. i got an entry-level job as a production assistant printed scripts, edited video. i did everything. c-span: did you not the time he wanted on-air work? >> guest: yes, absolutely. they plan was to give it until i was 30, which seemed at the time really old.
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and it didn't seem like i was going to break into being on-air by 30. then i would give it up and go back to consulting or finding other work. c-span: how long did you stay there? >> guest: i stayed there for a couple years. they got to the point when the opportunity seemed to be running out, so i went to bloomberg and that is where was the wild west of opportunity because bloomberg's tv operations at the time were pretty amazing. so i always felt that the less clear things were, the better path you can make for yourself. so people thought it was crazy. why would i like cnn and go to bloomberg? bluebird of tv operations really. it's going to be a career ender. c-span: what triggered the agent? >> guest: when i wanted to go to bloomberg i got a play like i am in the big leagues and have an agent.
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c-span: was that a hard decision? >> guest: the decision to part is always a hard decision, but you have to look at in the long run. it's not a financial decision per se. you are running a marathon when you're planning your career out. you're not sprinting. it's not a race. it's american. c-span: through all this are still single? >> guest: job. c-span: do many of your colleagues do that? >> guest: i think most of my colleagues have done that, yes. c-span: what is the verdict on trying to do all of this and have a family at the same time? >> guest: i don't know how -- i respect my colleagues tremendously, those colleagues that have families because i can barely get myself out the door in the morning, let alone getting little people at the door as well. c-span: here you are talking about options, whatever that is.
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>> options actions begins now. >> the show was so big we had to do it from two locations tonight. the boys at the nasdaq market site. melissa lee will be along in a few minutes. the largest equity options exchange. this is "options actions." i knew at the nyse. >> have been at the volume this week? tivo at one point call volume was six times the average daily volumes. welcome back to "options actions." you heard how tivo calls were heating up at the sizzling backs. >> wait a minute. >> you must have left it backstage. let's be on time here. >> when did you start wearing a ladies watch? >> here's the watch by the way. you have decided to head this weekend. >> okay good, very funny. but timeslot got me a confused.
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>> 5:00 from here and now. >> i would never miss this day. i've been looking forward to this day for a very long time and our new time slot. the traffic was a little difficulty. scott, what did you make of the action? >> you can watch the first 15 minutes of the show. c-span: how often does that happen? >> guest: that was the first time ever. i got here on time. c-span: that stuff happens all the time in television. what is the planned? how do they back it up? >> guest: they hope another anchor is around to pick up the slack. unfortunately, my colleague is a super capable anchor and proficient in options as well and was able to fill in at the last minute. but it was traffic. again, and two years of doing that to the nasdaq market site, that it never happened to me. reiko folks who don't live around here, what part of the city do you live in? >> guest: i live in the east
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side of manhattan. reiko how long does it take you? >> guest: takes about 30, 35 minutes. c-span: when you go there? >> guest: i get into the office between 9:30 and 10:00 a.m. i start my day earlier. i usually start from home and am reading everything. that is sort of my routine. getting to the office as a formality. c-span: when is your first program? >> guest: sort of the midday of what is moving the markets, what traders only cannot right right now. what is the latest wall street research hitting the tape? c-span: why do you call it "fast money"? >> guest: because the timeframe is not the bio investor. it is probably the next 10 minutes. it could be the next 10 seconds. it could be the next 10 days. it could be in the next couple of months. c-span: do you play the market?
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>> guest: we are not to play the market. we can invest in mutual funds and atf, but we are audited. there is a strict standard here, so there'll be so so complex answers -- interests. when i talk about stocks repeatedly for 10 days, there's a reason behind that. i note that an editorial decision i made. c-span: what is the difference between massé defends stock archaic? >> guest: las vegas is simply spear the market use market intelligence. you have to use your brain. c-span: you have evidence that if user bring about this or 30% we did in the last financial downturn? >> guest: well, i think the evidence can be seen across wall street. some of that mutual funds use their brains made a killing. made a fortune. having there's always examples of using your brain how that pays off when it comes to returns, whether it, whether it be a mutual fund or hedge fund for that matter.
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using your brain can get you in a lot of trouble. c-span: in what way? >> guest: you can come up with the wrong conclusion. c-span: to get a chance to see those about the financial crisis? >> guest: we have. i mean, that is sort of matter cuppa tea on the shows we do. we really cater to the very act of traitor, so we don't spend a lot of time about what this has been in the past unless it has a direct impact on what's happening right now. c-span: when you're figuring out this, where to send somebody? >> guest: that's a really tough one. c-span: there're so come, so many out there. i think david avery spoke is fantastic. he works at cnbc. when it comes to understanding
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the housing crisis, that most people want to understand. there's so many out there these days. even just my colleagues have written several, several books out there. i think though, you know, for the average person out there it's important to understand what has happened. it's also important to understand how to move forward. c-span: do you have a book? >> guest: i've been asked that question many times. i enjoy writing, so i like the idea of writing a book. i don't feel like i have a book in the about the financial crisis. i think that time is past in terms of the opportunity to get a book out. that also was not my area of expertise. i was at reporting on wall street at that time the crisis unfolded. whether or not there is a "fast money" book in may, possibly. but i can't really commit. c-span: back to "options
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actions." what is an option? >> guest: and option is the right to buy or sell a stock at a certain price in the future. how much do you have to pay? trading for $30, what is an option cost? >> guest: it's not like i can play this .1% of the value. it tells you how big would the stock is and what the volatility is. if you take a look at a volatile stock, meaning a stock moves up and down significantly over the course of a certain amount of time, then the option will be more expensive. the stock moves so much the chances are that you do not level, higher though is greater because it moves much more. to that rate is going to cost you more money. c-span: is not gambling? >> guest: i guess if you believe that giblin in a pure sense of where they simply putting money down, hoping that
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money will turn into a bigger payout, then i guess yes, you can call it gambling. if you are going to do that simply based on nonsense simply based on throwing a dart against the wall, absolutely it's gambling. if you do that because you know that apple is launching an ipod and the weakened sales would be great for you think that the japanese earthquake will have a limited impact on the market and therefore you want to sell kills on apple arbeit calls for those reasons, then that is an educated -- i don't want to say gas, that you have a thesis to your investment. so i don't enqueued and called it gambling. c-span: there's a new program called money in action. >> guest: money in motion, close. c-span: what is that now? >> guest: that is a show devoted to currency trading. in the currency market, it's a huge market. attached are the biggest market in the world, even though the
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stock market gets the headlines. the currency market is a $4 trillion market. some estimates put retail investing at about 10%. that number is growing. so when dividing the show and launching it at this time, we sort of recognize the fact that investors want alternative assets to stop. yes they love the stock market, but they want to know whereof they can make money and hedge their stock has been a financial crisis, if there's anything people learn from that experience, that is that you can't put all your eggs in one basket. you've got to be a lot of trade different things. c-span: when is the program run? >> guest: friday that type 30:00 eastern time. c-span: let's watch a clip of it. >> guest: this is money in motion. i'm melissa lee. here is where the money isee. moving tonight. a tragic quake rocks japan that happens the currency market.
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during the global recovery and fanning began soaring. we will tell you next week i'll currency traders or react to cuency tra plus, the talk gets a bit. chaos in the bidding and a europ sovereign spoon in your penetrators back in the grandads hyatt, the world will continue in what your trade.our trade? take a look at this chart. use these jagged lines means se opportunity. we will take you to thert money map. money in motion starts now. >> days like today are weighted ha we are here to teach you how ton do that right now.each you i'm melissa lee. these are the traitors and let's get right to it. obviously the action is centered so perhaps. perhaps? >> yeah.
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c-span: it's your choice. obviously, you're concerned about the welfare of the people in japan and around the world impacted by this earthquake and tsunami. but at the same time, the financial markets are still going at it is your choice whether or not to focus on the devastation were to also take a look at how you can profit from it. the markets will go on with or without you. it's up to you. c-span: this one reference in there. jagged lines, what does that mean? >> guest: we are just referring to the fact that in currency trading, technical analysis, charting the pattern of the currency and how does have the is a very important tool are particularly currency markets because currencies tend to be very predictable in that way. -- as a way that market works. so that segment typically takes a look at charts and sees
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different patterns and can identify a breakout or break them in a currency. so it is a buying opportunity or should you so? >> guest: how often in your work i think or do you interview political people? >> guest: not very often at all. not very often. c-span: how often in your work to worry -- don't worry, but talk about washington what they're doing and the impact that regulate should change it has on the market? >> guest: depends on the time, but during the midterm elections all the time. it definitely has -- i noticed over the past couple of years since they took over "fast money" that it is increased greatly in terms of governments ruin things. that is partly because of the financial crisis. since then, government has stepped up its role in various industries, not just the financial industry. and so, therefore you talk about the government.
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do we need to talk to a congressperson whose only interest is to talk about -- i don't know, the impact of his or her bills? probably not. can we boiled the bill down into bunch of bull appoints a brain on an analysts or investors who specializes in the area to really get to trade and understand how to them that companies? yes, and that's what we do. i tried not to have politicians on because i find the conversation is very one-way. they have an agenda. that is fine. but to another station. bring it to another c-span: there is more action in that last clip than there is an c-span in a month. the reason i mention that is because we started 32 years ago when television was much different. now the screens twists, and searches come in and all of that. that is in your time. when does it start and why? >> guest: i don't know when it started. i think it's the expectation
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that information is not dry and that you can have good information and be entertaining as well. i think cnbc has a tradition in the fact we bring in more graphics and swooshes and music et cetera is i don't want to is so unique, that can be found much more in some of the shows i host because we cater to the trader, the person who also might like espn, who sees this not as a game and that it's all fun and games, but that this is really something. there's factions. there's movements, a sense of the trading session. for all of the sort of relationships to sports we try and try and we try to make it interesting. we joke around a lot on my shows. we have a fantastic panel. on every show i do we have great personalities. it's not just the information. we wanted to be an experience
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for people because we think we have great information. the editorial contents is amazing. it's completely sound. if we can also inject a little fun in the whole thing, i think that's a winning package. c-span: other examples is that camera is always moving. it's all done consciously. why? >> guest: it's not just one person talking. weary group and it's almost like we've all come out the trading floors at the end of the day. the game is done. we are in a locker room and discussing how the game went in with the need to do for the next game. that is exactly the sort of deal we like to have on all of the shows. and the camera is moving, it is a sense that one person is talking, but this is a conversation between all of us. and so i have four other people on my piano and the fifth person is a viewer at home. so that is sort of the perspective the camera gives you.
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you are the other person sitting at this table, joining in on the conversation. we are also talking to you. c-span: another part of your work as documentaries. here is a minute clip from the coke documentary. >> guest: to get its name in front of everyone, coke put its name on everything from illustrated calendars and pens to pocket mirrors. well-known artists of today, including norman rockwell were commissioned to paint in a campaign featuring santa claus and his trademark red and white costume coincidently coax coders write to a common question. >> by the questions we get every season is the question about what is it true that coca-cola invented santa claus? >> no, it is not true. only because they think what we can get credit for this sort of creating the modern image essentially. we are trying to create an advertising campaign that did
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coca-cola associated with the holocaust. here's a guy who's going to go all of the world. he's got to be thirsty in the course of that evening. so let him have a coca-cola. >> how do you do this in addition to everything else that goes on every day? >> guest: this is like my hobby. but i think it is a great counterbalance to what i do. because what i do during the day is so fleeting and that whatever we are talking about that day is good for that day only, may be good for that moment only. what i do in the documentary side rears again and again. it is my chance to go very in depth with the topics for company and spend time with that topic or company over the span of months, whereas the topics every day on my shows can be just for those shows only. so i like to think of it as sort of -- it keeps me honest in terms of the journal. i can do both things. life in the moment are doing
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something that takes my time to do together. you can only spend time with the writing of crafting of the script. that is very, satisfying to me. >> how much do you get to do yourself? is it your idea to ducote? >> guest: so for the documentaries i have done have been my ideas. for coca-cola, it took a while. the company will -- they don't like to let outside people into their company. it's one of these american brands they like to protect the band. they like to control how their brand is portrayed. to come in and of access to their country and goodenow were on the company without them being able to control any of that was foreign. it was new territory. so it took probably a year plus of me sort of checking in with them. i went to check on the possibility of doing a documentary. no? i'll check back later.
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it's a year plus of e-mails and calls, et cetera in order for us to get to the point where if something would be good for us. c-span: why would a company that all over the world, very successful be worried about an hour documentary from cnbc? >> guest: i guest: i think it's natural. i think it has to do with any great company with an amazing brand that is known worldwide. i think it is just reluctance to let somebody else control the message. and for them to have cnbc control the message was sent a very foreign. that is how they got this great brand. that's how they built it. if you track any great brand in the u.s., that's always been the case. microsoft is the same way. i can't speak to the donald's, but there's so many quintessential american brands and their culture is very strong in the last thing they want to do is let an outsider change the discourse about their brand. i think they were pleased and
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thought it was fair in the end. i do some people who participate in the documentary to think that we did a fair job. c-span: what impact has had on you to know that your company has been owned by comcast? >> guest: so far nothing. not that i can be. cnbc is one of the great brands as nbc universal. we've been very successful and very profitable. so far so good. c-span: did you ever feel the impact of general electric? >> guest: actually no. c-span: they don't question how you report they're stuck with your company? >> guest: no, not at all. we might have better access to a pr person, but they don't influence editorial decisions are how we cover the company. c-span: under documentary about china committee to go there? >> guest: i did. c-span: when? >> guest: i went there in 2008 for the olympics. i went there by myself, which is very unusual for an hour
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documentary. i lined everything up before he went myself, which is required me to stay up until all hours and make phone calls. i went over and picked up a freelance -- a fantastic freelance producer and camera to and worked nonstop throughout the whole time i was there, about 10 days or so. right to do you chinese? >> guest: i don't. i've been taking lessons. reiko what was their reaction to you come in on cheney speaker? >> guest: it was poor. write code you'd look like them. what was their reaction to you? >> guest: it was interesting because it either really helps or hurts. in the circles i travel, they understand that happens. but when you're working on the street, they don't have a you're chinese and don't speak chinese. reichard innovatively or not finnair? >> guest: they can tell by the way you dress in the way you
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look in the way you do your hair is slightly different. but i did go out of your home. announced in beijing i wasn't scared to go out by myself. i didn't speak the language to out. i knew enough to get from zero my chinese is very limited, but i felt very comfortable. or something limited where all of a sudden you look like everybody else because that never happens. c-span: here's a little bit from your chinese or you made in china documentary. >> it competes not only from burgers to dumplings, but also to dozens of chinese restaurants that line the streets here. but as chicken can be slowed by the book of souls in america and hamburgers by the billions, then there is a market for fast chinese food in china and the
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market is enormous. >> is going to be a very large brand. it can be even larger than kfc. >> whether he can translate to kfc and pizza hut to locations here. a big factor is whether the chinese consumer will accept chinese made by an american company. >> does it help or hurt for an american company trying to sell herself in china quake >> a lot of consumers beginning to know it's a sibling of kfc. that has helped a lot because it continues. people give us credibility. people think he's good at delivering the standards. c-span: how big his kentucky fried chicken? >> guest: is huge. c-span: wide? >> guest: the product that they sell happens to be a favorite amongst chinese people. it is not too foreign, before-and-after heads the american cachet.
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interesting but they sell is different than what they sell here. they saw the kernel chickens sandwiches. they sell traditional chinese part stands, but they somehow were able to adapt to the local chinese market. i think that was sort of the interesting thing i found. most of the american companies that went to china and tried to open their doors i thought if they sat down and sold what they sold in the united states and europe and everywhere else in the world, that people would come in. that's not necessarily the case. the most successful companies were able to cater to the local market and also keep sort of the american myth of their brand and the products, but realize they're in a different country with a different consumer. >> what is your sense of the country is going in the next 10 years? >> that's throughout the action is going to be. think about any story on any
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given day on cnbc. probably has a china tied to it. it is amazing how much in terms of just even a percent of sales for multinational sales china has been found that companies that have the biggest growth jury, that trajectory is thanks to the growth in china. when i hear about china slowing, slowing from 8.9% growth to something less than that, then that causes hiccups in the market. so right now the tilt is definitely leaning towards china. prior coho closer to the government what to? >> guest: it was interesting. at that time. it was just before the olympics. whatever were shooting at the police came up with this for the olympics and they would go away because they were trying to be very open. if i'd gone back now, i'm not sure how that would be perceived. c-span: we have one clip left
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and some people would say the best allies. this is about a minute. let's watch. >> which is why janice mobbed at events like this. the adult entertainment in las vegas. >> to ever say no to fans? >> now. you know what, only if i'm in the middle of something else would i ever say no. >> james sees comfortable in the spotlight on the red carpet. at the oscars of, james wins best all growth seen in pirates to. jane may rack up the accolades for the five to six movies she makes here is a contract for digital playground, but it's a rough camerawork that is the most lucrative. >> i make a lot more of my money off camera. >> in-store signings, hosting parties and dancing at clubs like this one in san diego. c-span: to explain all that.
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>> guest: i bet you don't see that on these and too often. we didn't hour documentary on the business of orthography. and like many other businesses are facing a lot of threat, free content on the internet for one. that is a problem. that is the same problem the music industry faced with napster hit the scene. same sort of problem that movie studios are facing. early copies. what can you find on the internet in terms of copies of the bootlegs. so yes, it is a topic, but it really represented some of the bigger problems going on in various other industries. c-span: your idea? >> guest: it was. c-span: how much money is involved every year? >> guest: $13 billion. c-span: how regulated is that? >> guest: i mean, there are federal mail last so you can send it over state lines because
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it violates rules. so in that way, but a lot of deals are the flaws, that were in place are a little bit dated given what the industry is gone and given her mores have gone. c-span: we are near the end that's your day day is not over. recording is the middle of the day. what's next for you? >> guest: nexus by 5:00 show, which is "fast money." c-span: abolishes you do, three total. >> guest: "fast money halftime report," "fast money," "options actions" and money in motion. reiko which to enjoy the mouse? >> guest: that's like asking which one is your favorite? c-span: which is the hardest? >> guest: i think "fast money" is the hardest. a lot of it is unscripted. you have to interact with the trader. whatever point you bring up i have to be ready to react to that. there is a lot assorted you just have to be really in the market at all times so you know how to
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respond and how to interact. c-span: no doubt as he went to see mizpah when you're 11 years old, they are coming to you now. young people are coming and saying how do i do this? what is the best training? you chose this over being a doctor and a lawyer. what do you tell the dog viewers? >> guest: i say make sure you love telling a story unless reporting because at the heart of it what i do is find the best information and the angle from a viewer. right now it happens to be the best way to interpret news, to trade your own portfolio. on any other given day for a documentary, for instance, what is the best angle for that particular documentary? you have to love that pursuit of the story. if you don't love back, this is not the business for you. if not about being on camera.
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it is about loving what you do and going on cam ranh bring it to your audience. c-span: as he was back in your life, where was it that the lovers were pushed for you? early on. we talked about this earlier, but give us some examples. school, teacher, parent, grandparent. >> guest: i remember distinctly a conversation i had my parents traveling into the city and we were in the car talking about what we wanted to be one week. my. my mom said, you can also be like a newscaster. i was like, newscaster. and that sort of planted the idea in my head. c-span: why did she say that? did you ever ask her? >> guest: i think it's because of connie chung and that asian-americans were breaking into mainstream newscasts. she saw that i like to write a nice sort of pursued it and it all fell into place. c-span: what was your favorite course in high school? >> guest: i looked calculus in high school. i loved math and science in high
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school. chemistry, social studies. c-span: college? >> guest: college, my favorite course was the harvard crimson. i spent a lot of time there. c-span: so come advising young folks on what to study, how much school to have? >> guest: definitely college, but more importantly for this kind of business, it is the hands-on experience you can't get in the classroom. i did a lot of internships in college. worked at the "washington post" and "wall street journal" for two summers. as for important to learn how to tell a story properly, to learn how to get the right information. if somebody tells you, how much revenue do choose because of that? and will give an answer, give me an order of magnitude. the $10 million, 20 million, more than a hundred? less than 50. that's all important.
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you have to be on the job to be able to ask those questions and that information. c-span: denaturing job of the future? >> guest: i love what i'm doing now. i'm not just saying that because my bosses are watching. i honestly really love what i do. i love doing documentaries and been able to be live and on the cusp of the new evolution of business news. i am lucky. i hostesses to focus on specific asset classes and how to trade them. it's very specific information. i think that israeli industry is going. i am able to ride that wave right now and it is thrilling to see that unfold in front of me. c-span: so when you sit and watch the market everyday, the ups and downs, what kind of future do you think we have as a country? >> guest: i think america has a very, very, very bright future. i mean, the fact that no matter what the prices we can reinvent yourself and come out stronger. how many companies went to the
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financial crisis, devastated only to come out having realigned their factories, fired enough people, rehired them in the proper department? that is very telling. that speaks to the resilience of american business these days. the fact the american investor can get in the markets is a huge vote of confidence. c-span: last question. we talked earlier about your brother and sister. your brother went to columbia appeared were they doing today? >> guest: my sister is a lawyer and my brother is a traitor. c-span: a traitor in your? >> guest: yes, the trader in new york. c-span: melissa lee commentating that very much. >> guest: thank you. >> for a dvd copy of this program, call 1-877-662-7726. for free transcripts or to give
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