What a week on "Squawk Box!" Highlights include David Tepper's "My Cousin Vinny" market call, Cisco's John Chambers, Bloomberg's "Surveillance," the IRS, the AP, big hair and Sony, and the TRUTH about Joe's mop. "Talking Squawk" is where to get tidbits, insights and some sarcasm on the WEEK THAT WAS, and the WEEK TO COME from the notepad of the show's senior executive producer.
Like 'My Cousin Vinny'—Overwhelming Evidence for Stocks
On Sept 24, 2010, closely followed hedge fund manger David Tepper came on "Squawk" and said the Fed's asset purchase program virtually guarantees strength in stocks. It sparked what was dubbed the "Tepper Rally," which has seen the Dow Jones Industrial Average and the S&P 500 Index both up roughly 45 percent since then.
This week, he came back with a new call on the market—which sent the Dow up triple digits on Tuesday. And he brought "My Cousin Vinny" with him. (story and video)
Also check out our Facebook slideshow of Tepper, "The Many Faces of Last Year's $2 Billion Man." (Yep, he made $2.2 billion in 2012.)
'Whale Watching' Bonus!
Bridgewater Associates Founder Ray Dalio spoke to "Squawk" on location about why bonds are a terrible investment. He also had a warning for investors. (video)
We Love the IRS
I'd be remiss if I didn't say how much we here at "Squawk Box" LOVE the work that everybody does at the Internal Revenue Service. It's a FINE branch of government with fine people that do fine work. We love you all and would NEVER suggest there was any political bias, or mass targeting of any U.S. citizens or organizations.
Who knows what's going on with some of those OTHER PARTS of the federal government? But NOT at the IRS! Thank you for you patriotic service to the American dream.
P.S. Yo, Santelli, watch your back!
The Truth About Joe's Hair
The claim was that our guest, Mark Grant, saw Joe's hair being blow-dried. Thus debunking the myth that Joe's hair is either not real, or dyed. (video)
Well let me just say that I have known and worked with Joe Kernen for over 20 years now. And I know the truth. And the truth is…
Wow, That's Early!
Cisco Systems Chairman and CEO John Chambers is a Silicon Valley legend! (But we are just impressed that he got up at like 3:45 in the morning on the West Coast just to do a live interview on "Squawk Box!")
Now that is really impressive!
What else is impressive is how he whipped out like 12 numbers on the fly on how every international business is doing! The guy knows his company inside and out! (story and video)
What's in a Name?
Is that really the name of their morning show?
A piece of professional advice from the friendly competition (namely us): You might want to rethink that title.
But then again, in 2009, there was a big federal case involving six traders charged in a scheme to tip off traders to communications on internal brokerage "squawk boxes."
We hated that story!
Every day we came into work and read another headline about the "squawk box" case. There was our name being dragged through the mud even when the case had nothing to do with the show.
Bloomberg loved it. Updates every hour.
But instead of folding, we kept our name.
So Bloomberg, upon further review, we highly recommend that you keep your name, "Bloomberg Surveillance."
It's actually starting to work for me. Stick to your guns guys!
Let's not mention the name of the next show on Bloomberg after "Surveillance" is "In The Loop."
Geez! No kidding.
Of course, we do feel Bloomberg's pain. (We actually do. There are many excellent people there.)
Joe even pointed out how we choose bland, nonsuggestive, elevator-like music for our animations. (video)
Now the lawyers are making me waste space to officially disclose that Bloomberg is a competitor to CNBC in reporting and distributing business news on TV and on the web.
Really? I would never have guessed that.
Yes we did go 18 Tuesdays in a row for gains on the Dow. However, I am blaming that on Tepper, not "The Murrays." (see last week's blog)
OK, if we make it to 20 weeks in a row then maybe I'll call the Murrays. (photo)
My Sony Walkman
I still have a radio "Walkman" that I jog with. I still buy Sony's TV's and think they are pretty cool. I have a 55-inch LED in my family room. Love it! (I also still listen to 80's spandex big hair heavy metal bands.)
Hint for investors, this would a screaming indicator that hedge fund manger Loeb may be right.
I am not going to blog about the Justice Department (DOJ) looking into the phone records at the Associated Press (AP) mainly because CNBC finally gave me an iPhone and I don't want to risk it being tapped and losing it! (I would have to go back to that dreadful Blackberry. LOL!)
Disruptor 50 List
Big, big week for our "Disruptors" series. In fact, CNBC is so into it that we revealed our new "Disruptors 50" list this week.
Thankfully Andrew is a geek, making this segment easy for us. (If Joe or Becky Quick had to front it, we'd be dead!)
We divided the list into10 categories. Here are links to interviews from some of the hottest names on the list:
Congrats to Facebook! It's been one whole year since the debut of your infamously disastrous IPO! Can't wait for year two! (Flashback in CNBC's Digital Workshop)
News Tidbits You Can (Kind-of) Use
- This Tuesday, JPMorgan shareholders will finally vote on this whole Jamie-Dimon chairman and CEO "split-or-not" deal. You know what they say. Be careful what you wish for, you might just get it. How classic would it be if they split the roles and he walks?
- "Star Trek Into Darkness" opens this weekend. So far, the reviews are mixed, which is a stupid waste of ink because any Trekkie knows that every Star Trek movie is great so why bother reviewing them?
Hair Nation (courtesy of @PaulDeFabo and our Twitterless TD Keith Falcone)
Who says Joe is not in favor of big government? In fact, we hear he is eyeing the job of CFTC commissioner Bart Chilton.
Mark Your Calendar (or Set Your DVR):
- Monday: Richard Fisher, president of Federal Reserve Bank of Dallas
- Tuesday: Dick Bove (bank analyst extraordinaire) of Rafferty Capital
- Wednesday: Gary Parr, vice chairman Lazard Freres
- Thursday: Robert Nardelli, former Home Depot CEO and David Cote, CEO of Honeywell CEO
- Friday: Martin Franklin, executive chairman at Jarden and Saira Malik, head of global equity research at TIAA-CREF
Tweets of Note
(The Coaster is gone, but the New Jersey Shore is coming back better than ever!)
(Wow! It's a Dodd-Frank-a-Paloosa! It must be a hot-ticket on StubHub! John, geez, we love ya, but you got to get out more.)
@morningmoneyben: Why do I always try to reason w/ Twitter? What is the matter with me?
(Ben, POLITICO's Morning Money man, never invite people to answer that question. See tweet above. You can end up like Carney!)
Data Check: Next Week's Economic Calendar
- Monday: Nada
- Tuesday: Zippo
- Wednesday 2 p.m. ET: FOMC Minutes of Meeting of April 30-May 1 (somebody find Liesman!)
- Thursday 8:30 a.m. ET: Weekly Jobless Claims
- Friday 8:30 a.m. ET: Durable Goods (April)
It was a one-day week in the word jumble. After Monday's show Becky left with a BIG WIN for the "Microsoft CEO Summit," leaving Joe all alone with no one to challenge him. (He slaughters me and doesn't even consider me competition.)
Word Joe stumbled on when jumbled: CIMONE (Income)
Let's give them both a bonus word to keep them fresh for next week's return to competition.
Joe's bonus jumbled word of the week: YCCTTROEH
Becky's bonus jumbled word of the week: KOYORBAE
*Answers at the end
Must Follow Them
The entire CNBC team stepped up to the plate this week while Becky and Andrew were on assignment. So instead of making me say "thank you," can you just follow them on Twitter for me at @MandyCNBC, @MCaruso_Cabrera, @SteveLiesman, @KaylaTausche, @JBoorstin, and @RobTFrank.
"Joseph Richard" Lannister
Who knew Joe came from royalty? Does this mean we can cut a hand off like Jamie "The Kingslayer?" (a.k.a. Nikolaj Coster-Waldau) on "Game of Thrones."
Earning Season is winding down (at least they keep saying that).
- Monday: Dick's Sporting Goods (DKS), Ryan Air Holdings (RYA.L)
- Tuesday: Dell (DELL), Hewlett Packard (HWP), Medtronic (MDT), Saks (SKS)
- Wednesday: Lowe's (LOW), Staples (SPLS), Target (TGT), Toll Brothers (TOL)
- Thursday: Dollar Tree (DLTR), Gap (GPS), Sears (SHLD)
- Friday: Abercrombie & Fitch (ANF), Foot Locker (FL)
The "Corny-Sappy Motivational Business-Based Inspirational Quote" for the Weekend
"Yesterday's home runs don't win today's games." – Babe Ruth
Looking Forward to the Weekend Because…
Allergy season is finally ending. (good thing, the pharmacy won't sell me anymore Zyrtec-D because they think I'm running a meth–lab in my basement!)
Farewell to all my loyal readers. Thank you for your support.
This will likely be my last blog because I currently have the winning Powerball ticket for Saturday's huge drawing in my wallet.
Talking Squawk: Signing off (hopefully forever!)
*Joe's Jumble Bonus Word Answer: YCCTTROEH (Crotchety)
*Becky's Jumble Bonus Word Answer: KOYORBAE (Yearbook)