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CNBC Transcript: Billionaire Investor Mark Cuban Speaks with CNBC’s “Squawk Alley Today”

WHEN: Today, Tuesday, November 1st

WHERE: CNBC's "Squawk Alley"

Following is the unofficial transcript of a CNBC interview with billionaire investor Mark Cuban on CNBC's "Squawk Alley" (M-F, 11AM-12PM ET) today, Tuesday, November 1st. Following are links to the video on CNBC.com: http://video.cnbc.com/gallery/?video=3000564309, http://video.cnbc.com/gallery/?video=3000564310 and http://video.cnbc.com/gallery/?video=3000564306

All references must be sourced to CNBC.

QUINTANILLA: ONE WEEK TO GO UNTIL THE PRESIDENTIAL ELECTION AND JOINING US ON THE PHONE THIS MORNING BILLIONAIRE INVESTOR SHARK TANK CO-HOST AND HILLARY CLINTON SUPPORTER MARK CUBAN. GOOD TO TALK TO YOU AGAIN.

CUBAN: THANK YOU, CARL. THANKS FOR HAVING ME ON.

QUINTANILLA: I'M NOT SURE YOU COMMENTED SINCE THE COMEY NEWS BROKE FRIDAY BUT I AM WONDERING IF IT MAKES YOU THINK OF THE RACE ANY DIFFERENTLY.

CUBAN: I HAVE NOT COMMENTED AND NO NOT IN THE LEAST. WHEN IT FIRST CAME OUT, OH, MY GOODNESS, WHAT IS THIS? I WENT BACK AND READ THE FBI REPORTS AND INTERVIEWS OF HUMA ABEDIN AND I READ THE JUDICIAL WATCH TRANSCRIPTS. IT'S PRETTY STRAIGHTFORWARD. SHE'S PRETTY SPECIFIC IN HOW SHE DEALT WITH E-MAILS TO GET TO HER CLINTON SERVER E-MAIL SHE USED A WEB CLIENT. SO THAT'S WHAT'S ON THE LAPTOP THAT THEY FOUND THEN IT'S NOT INCONCEIVABLE, LIKE ANY OF US WHO USE WEB CLIENTS IT MIGHT GIVE A BIG NUMBER FOR E-MAILS READ, UNREAD ON THE SYSTEM BUT THEY MAY NOT BE LOCALLY STORED ON THAT LAPTOP. AND THEN, B, FOR HER STATE.GOV ACCOUNT, SHE USED AN OUTLOOK CLIENT. IF BY CHANCE THERE'S AN OUTLOOK CLIENT THERE, THEN 99.99% CHANCE THAT THEY'RE DUPLICATES PARTICULARLY IF SHE USED AN IMAP FACILITY TO DOWNLOAD. FOR YAHOO IT'S A WEB CLIENT AGAIN. WHEN YOU LOOK EXACTLY HOW SHE DEALT WITH E-MAILS, UNLESS THERE'S SOMETHING OUT OF LEFT FIELD THAT WE COULDN'T HAVE POSSIBLY PREDICTED AND SHE SAID SOMETHING THAT WAS INCORRECT IN THOSE INTERVIEWS THEN I DON'T THINK THERE'S ANYTHING AT ALL TO WORRY ABOUT. ITS TEMPEST IN A TEA POT.

TAUSCHE: WE CAN DEBATE THE TECHNICALITIES OF THE WHAT THE FBI MAY OR MAY NOT HAVE BUT BIGGER PICTURE, DO YOU NOT WORRY THAT THIS REINFORCES QUESTIONS THAT SOME UNDECIDED VOTERS STILL HAD ABOUT CLINTON? ABOUT HER TREATMENT OF CLASSIFIED INFORMATION AND THAT IT WOULD TURN PEOPLE INSTEAD OF VOTING FOR DONALD TRUMP AGAINST HILLARY CLINTON?

CUBAN: OKAY WELL THERE ARE TWO QUESTIONS THERE ONE, AM I WORRIED ABOUT HOW SHE DEALT WITH CLASSIFIED INFORMATION? FIRST LET ME SAY I THINK THE CLINTON CAMPAIGN WAS RIDICULOUS IN HOW THEY ADDRESSED THE E-MAIL PROBLEM. THE REAL QUESTION WAS HOW DOES SHE DEAL WITH CLASSIFIED DOCUMENTS. THE DEFINITIVE ANSWER, AND AGAIN ALL THE FBI INTERVIEWS, ALL THE 302s THAT WERE PUBLISHED, DEFINITIVE ANSWER OVER AND OVER AGAIN SHE DEALT WITH CLASSIFIED DOCUMENTS VIA HARD COPY. THAT'S WHY YOU SEE IN THESE HUMA INTERVIEWS AND EVEN FROM JUDICIAL WATCH THEY'RE NOT MAKING A BIG STINK OF IT. THEY KNOW THAT SECRETARY CLINTON ASKED FOR EVERYTHING TO BE PRINTED OUT. EVERY SINGLE DOCUMENT THAT WAS MARKED, PROPERLY MARKED AS CLASSIFIED WAS PRINTED OUT. IF YOU DO THE HOMEWORK THERE'S NO REASON TO DOUBT ABOUT HOW SHE DEALT WITH CLASSIFIED INFORMATION. NOW THE SECOND QUESTION IS WHAT'S THE PERCEPTION AND AGAIN I DON'T THINK THEY DID A GOOD JOB OF DEALING WITH THE PR ASPECT OF IT SO, YEAH, IT COULD LEAD SOME UNDECIDEDS TO QUESTION IT, JUST BECAUSE OF THE VOLUME, THE CONSISTENCY OF IT. BUT IN REALITY, IF YOU DIG DEEP AND YOU INFORM YOURSELF, THERE'S NO CONCERN THERE.

QUINTANILLA: WHEN YOU COUPLE THE COMEY NEWS WITH DONNA BRAZILE AT CNN THE ALLEGED CONFLICTS OF INTEREST AT THE CLINTON FOUNDATION, THIS EMPHASIS ON LOYALTY OVER INTEGRITY, SOME ARGUE WHY DOES IT NOT MAKE YOU THINK OF HER AS A LESS THAN IDEAL CANDIDATE OR DOES IT?

CUBAN: NOT AT ALL. LET'S LOOK AT THE FOUNDATION. NUMBER ONE IF THERE WAS PAY FOR PLAY IN ANY WAY POSSIBLE THAN ANY ECONOMIST WOULD TELL YOU THERE HAD TO BE SOME SORT OF RISK PREMIUM. THEY'RE NOT STUPID ENOUGH TO NOT ASK FOR ADDITIONAL MONEY FOR TAKING RISKS THAT COULD GET THEM IN TROUBLE. WHEN YOU LOOK AT WHAT WAS CHARGED BY BILL CLINTON OR HILLARY FOR SPEECHES OR ANYBODY ELSE INVOLVED IT WAS MARKET AND, IN A LOT OF CASES, UNDER MARKET. YOU LOOK WHAT THE FOUNDATION ACTUALLY DOES, THEN THEIR TAX RETURNS. BOTH -- EACH OF THE CLINTONS AND FOUNDATION. AGAIN THERE IS NO THERE THERE. THERE'S ABSOLUTELY NO REASON TO THINK THAT THERE WAS PAY FOR PLAY. THE CONCEPT THAT WELL SOMEBODY GOT AN APPOINTMENT. I'LL SAY'S -- I'LL SAY IT OUT LOUD. IF I EVER RAN FOR OFFICE, WHICH I HAVE NO INTENTION OF DOING, AND I COULD FIND THE TIME TO HAVE SOMEBODY DONATE $25 MILLION TO MY FOUNDATION IN EXCHANGE FOR DOING A 30, 45-MINUTE MEETING I'LL DO IT EVERY SINGLE TIME, RIGHT? THIS WHOLE IDEA THAT THIS IS SOMETHING HORRIBLE THAT THEY HAD THESE MEETINGS THAT WEREN'T AVAILABLE TO SOMEBODY ELSE, TO ME THAT'S RIDICULOUS. I THINK EVERY POLITICIAN IN THE WORLD DOES THAT. AND THIS IS MUCH ADO ABOUT NOTHING.

QUINTANILLA: YOU UNDERSTAND PEOPLE'S FRUSTRATION THAT BECAUSE WE'VE BECOME TO THAT KIND OF PRACTICE WE THINK OF IT AS STANDARD OPERATING PROCEDURE.

CUBAN: YEH BUT THE QUESTION IS IT BAD? AGAIN, IF I WAS TRYING TO STOP A CANDIDATE, I WOULD BRING THESE THINGS UP AND PAINT THEM AS BEING AS HORRIBLE AS POSSIBLE. THE CHALLENGE ISN'T WHAT THEY'VE DONE, BUT THE MARKETING, THE PERCEPTION THEY'VE CREATED ABOUT THE CLINTON'S AND THE CLINTON'S INABILITY TO RESPOND TO THAT. WHEN YOU LOOK AT IT, THERE'S NO SUBSTANCE THERE NO REAL ISSUE BUT I GET YOUR POINT. IF I SAY GOING TO CHURCH IS BAD AND THESE PEOPLE GO TO CHURCH EVERY DAY AND THAT'S HORRIBLE, HORRIBLE, HORRIBLE AND I PAINT THAT AS BEING A NEGATIVE THING, THEN AT SOME POINT SOME PEOPLE BELIEVE IT. AND SO I THINK THE CLINTONS HAVE JUST NOT DONE A GOOD JOB OF DISSPELLING A LOT OF THE PROPAGANDA.

TAUSCHE: NEITHER CANDIDATE WILL ENJOY ALL OF THESE ISSUES GOING AWAY ON NOVEMBER 9th. YOU PREVIOUSLY PREDICTED THAT IF TRUMP WON THE PRESIDENCY THAT THE STOCK MARKET WOULD SEE MAYHEM. DO YOU STILL BELIEVE THAT TO BE THE CASE?

CUBAN: I DIDN'T SAY MAYHEM BUT SAID IT WOULD DEFINITELY FALL. YES. FOR TWO REASONS. YOU SAW IT WHEN THE COMEY E-MAILS CAME OUT, WHAT THE MARKETS DID. THERE'S TRUMPS TEMPERMENT WHICH I THINK IS A SIGNIFICANT ISSUE FOR THE MARKETS. IF TRUMP WINS I WOULD HANDICAP THE LIKELIHOOD OF THE PROBABILITY THAT HE WOULD SAY SOMETHING STUPID AND OFFENSIVE DURING A FOUR-YEAR TERM MULTIPLE TIME SAT 100%. IF HE IS GOING TO SAY THINGS THAT ARE STUPID AND OFFENSIVE THAT COULD LEAD TO SOME SORT OF MILITARY ACTION, NOT ORIGINATING FROM THE UNITED STATES BUT FROM ANOTHER COUNTRY, THAT IS THE WORST THING POSSIBLE FOR THE STOCK MARKET. AND THAT UNCERTAINTY BECAUSE YOU HAVE A CANDIDATE THAT DOESN'T KNOW WHEN NOT TO TALK, THERE'S NOTHING WORSE FOR THE MARKET. THE IDEA THAT WHAT HE COULD SAY TOMORROW COULD IMPACT MARKETS WORLDWIDE, THAT'S GOING TO PULL PEOPLE OUT OF THE MARKET. PART TWO TO THAT IS IF WE SEE ANY UPTICK IN INTEREST RATES AT ALL, THEN IT'S GOING TO LOOK LIKE A GREAT DEAL JUST TO PUT OUR MONEY INTO TREASURY OR BONDS OR SOMETHING VERY SAFE.

QUINTANILLA: ARE YOU POSITIONED EITHER WAY ON, SAY, EQUITIES?

CUBAN: OH, YEAH.

QUINTANILLA: TO LEVERAGE A CLINTON OR TRUMP WIN?

CUBAN: OH, YEAH. IF TRUMP WINS I'M ALREADY HEDGED. MY HEDGE IS UP A LITTLE BIT THIS WEEK BECAUSE THE MARKETS HAVE BEEN DOWN MULTIPLE DAYS IN A ROW. I PUT ON THE BIGGEST HEDGE I'VE EVER PUT ON AGAINST ALL MY EQUITIES AND INTEREST-BEARING BONDS SIMPLY BECAUSE OF WHAT I JUST SAID. YOU KNOW, THIS IS NOT LIKE BREXIT WHERE OH, MY GOODNESS, THERE'S A BIG REACTION, BIG SELLOFF AND THEN A BIG BOUNCE BACK AND THINGS JUST TRICKLE DOWN. CANDIDATE TRUMP -- I DON'T SEE ANY REASON TO BELIEVE THAT CANDIDATE -- IF THIS RACE WOULD BE EVEN TIGHTER IF DONALD TRUMP KNEW WHEN TO SHUT UP. RIGHT? HE WAS SO CLOSE TO THE PRESIDENCY AND DURING THE DEBATES AND POST DEBATES AND MANY TIMES, YOU KNOW, MANY OTHER TIMES ALL HE HAD TO DO WAS NOT SAY SOMETHING RIDICULOUS AND HE COULDN'T DO IT. AND THE THOUGHT THAT ONCE HE WAS ELECTED OR IF HE'S ELECTED THAT ALL OF A SUDDEN NOW, YOU KNOW, WITH ALL THIS POTENTIAL POWER HE'S JUST GOING TO KEEP QUIET AND STAY SCRIPTED, THERE'S NO CHANCE THAT HAPPENS. YOU KNOW THE OLD SAYING, POWER CORRUPTS, ABSOLUTE POWER CORRUPTS ABSOLUTELY. THE LEVELS TO WHICH HE WOULD BE CORRUPTED BY THAT POWER ARE JUST BEYOND CONCERPTION RIGHT NOW.

QUINTANILLA: THERE'S ALWAYS THE CHANGE THE MARKET IN ITS INFINITE WISDOM MARK COMES TO UNDERSTAND THE WAY TRUMP COMMUNICATES EITHER IN PERSON OR A MICROPHONE ON TWITTER AND THEN DISCOUNTS THAT APPROPRIATELY.

CUBAN: NO BECAUSE DONALD TRUMP DOESN'T KNOW WHAT HE IS GOING TO SAY NEXT. THERE'S TELEPROMPTER TRUMP, AND WE GET TO HEAR HIM, AND WE KNOW THAT NO ONE EVER ASKED HIM THE QUESTION WHO WRITES HIS SPEECHES WE KNOW IT IS NOT HIM MORE OFTEN THAN NOT--IT FEELS LIKE HE IS READING THE SPEECH FOR THE FIRST TIME WHEN HE READS IT. IT'S THE COMMENTARY, OH, WOW, THIS IS INTERESTING. THEN WE HAVE THIS COMMENTARY. WE DON'T KNOW WHO IS WRITING THOSE SPEECHES. IS IT STEVE BANNON OR WHO IT IS, SAYS AND, YOU KNOW, WE DON'T KNOW IF IT'S DONALD TRUMP'S POSITION THAT HE IS ACTUALLY STATING. FOR ALL WE KNOW IT COULD BE STEVE BANNON'S AND DONALD IS THE PUPPET. THERE'S SO MANY UNCERTAINTIES ASSIGNED TO TRUMP THAT AREN'T ASSIGNED TO SECRETARY CLINTON THAT THERE'S NO WAY FOR ANYBODY TO HUMANLY HANDICAP IT. THAT'S THE ULTIMATE IN UNCERTAINTY.

TAUSCHE: WHAT RISK PREMIUM WOULD YOU ASSIGN TO CLINTON, MARK?

CUBAN: I WOULD SAY THE RISK PREMIUM WITH SECRETARY CLINTON IS THAT SHE GETS SOME OF HER FAR LEFT, YOU KNOW -- LIKE I'M NOT A BIG FAN OF THE FREE COLLEGE TUITION AND I'M A FAN OF FREE TRADE. YOU KNOW, IT REALLY DEPENDS ON WHAT HAPPENS WITH THE HOUSE AND THE SENATE AS TO HOW YOU HANDICAP IT. LET ME BE CLEAR ABOUT SOMETHING. I DON'T AGREE WITH SECRETARY CLINTON ABOUT EVERYTHING. I DON'T AGREE WITH HER IN ALL OF HER POSITIONS. I THINK SHE UNDERSTANDS HOW GOVERNMENT WORKS THAT I CAN LOBBY AGAINST HER– I THINK ANYBODY WHO DISAGREES WITH HER CAN GO TO THEIR REPRESENTATIVES AND SAY, LOOK, HERE'S MY -- HERE'S WHAT I THINK. I LIKE TO LOBBY AGAINST HER. I DON'T HAVE THAT SAME CONFIDENCE THAT TRUMP UNDERSTANDS HIS POSITION AND UNDERSTANDS HOW GOVERNMENT WORKS, UNDERSTANDS THE CONCEPT OF CHECKS AND BALANCES, AND I DON'T HAVE THE CONFIDENCE THAT I COULD JUST LOBBY AGAINST, YOU KNOW, HIM BLURTING THINGS OUT. WHILE I DON'T AGREE WITH 100% OF WHAT SECRETARY CLINTON SAYS, I KNOW WITH THOSE THINGS I DISAGREE ON, I CAN LOBBY AGAINST. WHEN YOU TALK ABOUT RISK PREMIUM WITH HER, YOU KNOW, IT'S MORE DEFINED BY WHAT HAPPENS IN THE DOWN BALLOT ELECTION THAN PURELY WHAT HAPPENS WITH HER.

QUINTANILLA: YOUR ANSWER REMINDS ME OF SOMETHING PETER THEIL SAID YESTERDAY. LET'S TAKE A LISTEN TO THAT.

PETER THIEL SOUND: I DON'T AGREE WITH EVERYTHING DONALD TRUMP HAS SAID AND DONE, AND I DON'T THINK THE MILLIONS OF OTHER PEOPLE VOTING FOR HIM DO EITHER. IT'S NOT A LACK OF JUDGMENT THAT LEADS AMERICANS TO VOTE FOR TRUMP. WE'RE VOTING FOR TRUMP BECAUSE WE JUDGE THE LEADERSHIP OF OUR COUNTRY TO HAVE FAILED.

QUINTANILLA: REACTION TO THAT MARK?

CUBAN: HE DIDN'T SAY A WORD ABOUT TRUMP POLICIES AND THAT'S THE POINT. HE ACTUALLY MAKES MY POINT. HE SAID SOMEWHERE ELSE I THINK THAT WE TAKE WHAT TRUMP SAYS SERIOUSLY, BUT NOT LITERALLY. THAT'S CRAZINESS. THAT JUST REINFORCES THAT TRUMP DOESN'T KNOW WHAT HIS POLICIES ARE. PETER THEIL DOESN'T BELIEVE IN HIS POLICIES. WHAT HE ALSO DIDN'T SAY AND I THINK HE IS SUGGESTING IS THAT HE TAKES ALONG WITH A LOT OF OTHER TRUMP SUPPORTERS. HE TAKES EVERYTHING SAID ABOUT SECRETARY CLINTON LITERALLY AND SERIOUSLY WHICH IS ALSO A PROBLEM. HE SAID -- HE BASICALLY IS SAYING I DON'T AGREE WITH TRUMP'S POLICIES, BUT I JUST DON'T LIKE THE OTHER GUY SO I'LL VOTE FOR HIM. THAT'S NOT AN ENDORSEMENT. THAT'S RUNNING AWAY FROM THE ISSUE. AS FAR AS BUSINESS, FIND ME ONE ENTREPRENEUR THAT DONALD TRUMP IS INVESTED IN. FOUND ME, YOU KNOW, ONE COMPANY THAT DONALD TRUMP HAS OR ONE BUSINESSPERSON THAT HAS COME OUT AND SAID DONALD TRUMP HAS MENTORED. LET'S FIND SOME EXAMPLES OF WHAT HE HAS DONE TO SUPPORT BUSINES AND SUPPORT BUSINESS PEOPLE. IF THERE LAST NIGHT IS NOT TRUMP AND THEY ARE NOT RELATED TO SOMEBODY.

QUINTANILLA: I CAN EASILY POINT TO A SHELDON ADELSON SUPPORTER.

CUBAN: NO NO NO NO I SAT AND MET WITH SHELDON AND LET ME JUST TELL YOU THE MONEY THAT AT LEAST THE LAST TIME I LOOKED IN OPEN SECRET, HE GAVE MONEY FOR DOWN BALLOT RACES. HE DID NOT GIVE MONEY SPECIFICALLY TO DONALD TRUMP. NOW, HIS NEWSPAPER DID COME OUT AND SAY AND SUPPORT HIM, BUT IT WASN'T A RINGING ENDORSEMENT.

QUINTANILLA: OK I GUESS WE WILL COUCH IT THAT WAY. DO YOU THINK TEXAS HAS ANY CHANCE OF BEING COMPETITIVE?

CUBAN: YEAH, I DO, ACTUALLY. IT'S SHOCKING. YOU KNOW, AT THE BEGINNING OF THE RACE I WAS -- THE AMOUNT OF HATE I EXPERIENCED GOING AROUND DALLAS IN OTHER CITIES IN TEXAS WAS ENORMOUS, AND NOW IT ALMOST THE EXACT OPPOSITE MAYBE I AM NOT TRAVELING IN THE RIGHT CIRCLES BUT I DON'T EXPERIENCE THE SAME HATE AT ALL. IN FACT THERE'S MORE AND MORE PEOPLE COMING UP AND THANKING ME FOR STANDING OUT AND SAYING I HAVE LISTENED WHAT YOU HAVE TO SAY, AND I'M VOTING FOR SECRETARY CLINTON. A LOT OF THEM ARE SAYING I'M VOTING FOR SECRETARY CLINTON AT THE BALLOT AND REPUBLICANS DOWN THE BALLOT WHERE THERE ARE A FEW RACES. YOU KNOW, IT WILL BE INTERESTING TO SEE WHAT HAPPENS. I DON'T THINK HER WINNING TEXAS IS OUT OF THE QUESTION.

TAUSCHE: YESTERDAY KELLY ANN CONWAY, TRUMP'S CAMPAIGN MANAGER, SAID CLINTON'S CAMPAIGNING IN TEXAS WAS JUST A HEAD FAKE. WHAT WOULD YOU SAY?

CUBAN: YOU KNOW, THERE'S -- SECRETARY CLINTON'S CAMPAIGN IS VERY MUCH DATA-DRIVEN. IF THERE'S ONE THING THAT WE LEARNED FROM ALL THE WIKI LEAKS FROM JOHN PODESTA IS THEY TALK ABOUT EVERYTHING AND EXPLORE EVERYTHING AND ARGUE ABOUT EVERYTHING. YOU KNOW, THEN THEY MAKE A DECISION, AND WE ALSO LEARN THAT IT'S VERY -- THEY MAKE VERY DATA DRIVEN DECISIONS, AND SHE'S NOT GOING TO COME HERE AND WASTE HER TIME UNLESS SHE THINKS THERE'S A CHANCE.

QUINATNILLA: MARK, I HOPE YOU DON'T MIND ME ASKING. WHEN IS THE LAST TIME YOU HAD A PERSONAL INTERACTION WITH TRUMP?

CUBAN: IT WAS RIGHT AFTER HE WON THE PRIMARY. HE ASKED ME WHAT HAPPENED BECAUSE I SAID SOMETHING PUBLICLY THAT HE NEEDED TO START LEARNING THE ISSUES BECAUSE, YOU KNOW, I HAD BEEN SUPPORTIVE OF HIM AND WAS -- WOULD MAKE THE POINT TO HIM THAT AT SOME POINT YOU HAVE TO DIG DOWN AND UNDERSTAND WHAT'S BEHIND WHAT YOU ARE SAYING. YOU CAN'T JUST SAY IT. HE ASKED ME WHAT HAPPENED, AND I SENT HIM A DETAILED E-MAIL EXPLAINING EXACTLY WHAT WE ALREADY TALKED ABOUT ON THE PHONE AND AGAIN THAT I FELT LIKE HE HAD TO LEARN THE ISSUES AND UNDERSTAND HIS OWN POLICIES AND THAT WAS THE LAST TIME I SPOKE TO HIM.

QUINTANILLA: I REMEMBER WHEN IT WAS UNCLEAR WHICH CANDIDATE YOU WERE GOING TO FAVOR.

CUBAN: I WAS VERY SUPPORTIVE OF THE FACT THAT HE WAS CANDID OPEN SAID WHAT WAS ON HIS MIND UNSCRIPTED BUT THAT IS NOT WHO HE IS ANYMORE. HE IS NOW 100% SCRIPTED. HE IS NOT SO MUCH CANDID ANYMORE. PARTICULARLY WHEN IT COMES TO ISSUES. THE THINGS HE ORIGINALLY TALKED ABOUT, EVEN THOUGH I DISAGREED WITH HIM VEHEMENTLY IMMIGRANTS AND THE WALL AND ALL OF THAT, BUT HE BARELY EVEN TALKS ABOUT ANYMORE. OTHER THAN THE OFF THE CUFF REMARKS, WHICH ARE TYPICALLY RIDICULOUS FROM TRUMP. WE'RE HEARING WHAT STEVE BANNON OR WHOEVER IS WRITING HIS SPEECHES HAS TO SAY. WHEN HE WAS RIPPING ON OBAMA CARE BECAUSE OF SOME OF THE PRICING THAT CAME OUT, AND HE BLURTS OUT THAT, YOU KNOW, HIS EMPLOYEES ARE SUFFERING BECAUSE OF OBAMA CARE NOT REALIZING THAT HE HAS INSURANCE FOR THEM. HE HAS DEMONSTRATED AGAIN AND AGAIN. HE DOESN'T EVEN UNDERSTAND WHAT OBAMA CARE REALLY IS OR HOW IT WORKS. YOU COULDN'T ASK HIM --

QUINTANILLA: NOT TO SAY THESE PREMIUMS ARE NOT A CONCERN.

CUBAN: WELL NO. IT DEPENDS ON WHAT STATE YOU'RE IN. IF YOU WANT TO DISCUSS OBAMA CARE, YOU HAVE TO UNDERSTAND WHAT THE THREE R'S ARE, HOW THEY WORK, THE FACT THAT, YOU KNOW, NOT EVERY STATE FULFILLED THEIR REIMBURSEMENTS. THERE ARE A LOT OF ISSUES. TO ME OBAMA CARE IS ONE OF THE BIGGEST START-UPS OF ALL TIME. THEY MADE CERTAIN PROJECTIONS THAT DIDN'T WORK OUT. THAT'S NOT UNUSUAL FOR A START UP IT DOESN'T HELP THE PEOPLE IN THOSE STATES, OBVIOUSLY. IT'S VERY PAINFUL FOR THEM. AT THE SAME TIME IF YOU WANT TO HAVE AN OPEN AND CANDID DISCUSSION ABOUT OBAMA CARE, WHICH YOU WOULD WANT TO EXPECT FROM CANDIDATE TRUMP, THEN YOU HAVE TO UNDERSTAND THOSE THINGS. HE HAS MADE NO EFFORT TO LEARN THOSE THINGS. AND IT'S UNFORTUNATE THAT ALL WE DO IS DISCUSS THESE IT'S LIKE HEADLINE ISSUES LIKE HEADLINE FOR THE CANDIDATES. LIKE I SAID TO HIM DIRECTLY, HE SHOULD UNDERSTAND THE BASICS OF OBAMA CARE, AND HE OBVIOUSLY DOES NOT.

TAUSCHE: I WISH WE HAD ANOTHER HOUR TO KEEP DEBATING. THE TRUMP CAMPAIGN SAYS IT WILL GO ON A 25 MILLION DOLLAR AD BLITZ IN THE NEXT WEEK. EXPANDING MAP OF SWING STATES.

CUBAN: MAYBE I READ IT WRONG, BUT HE SAID HE WAS PUTTING IN $10 MILLION TO GET $25 MILLION WORTH OF ADVERTISING IN THE LAST WEEK. THAT'S TOTAL TRUMP TALK, RIGHT? THAT THE PEOPLE HE IS BUYING HIS ADVERTISING FROM IS SO STUPID THEY'RE GOING TO SELL HIM $25 MILLION WORTH FOR $10 MILLION. LOOK 10 MILION IS GREAT, BUT STILL JUST A DROP IN THE OCEAN.

TAUSCHE: THE CAMPAIGN SAID IT WILL SPEND $25 MILLION. HOW MUCH DO YOU THINK CLINTON WILL PUT UP?

CUBAN: I HAVE -- JUST LOOK AT HER REPORT. YOU KNOW, SHE FILES ALL THE CASH SHE HAS, CASH ON HAND, AND, LOOK, THERE'S PLENTY OF SERVICES THAT WILL TELL YOU EXACTLY WHAT'S BEING PURCHASED IN TERMS OF ADVERTISING. THEY WILL ALSO TELL YOU WAITING UNIL THE LAST MINUTE TO BUY ADVERTISING IS THE MOST EXPENSIVE SO RATHER THAN PUTTING UP $10 MILLION OR EVEN $25 MILLION FOR $25 MILLION IN ADVERTISING, MOST LIKELY THEY'RE PUTTING UP WHATEVER THE AMOUNT IS AND GETTING LESS THAN THAT BECAUSE THEY'RE HAVING TO BUY LAST MINUTE ADS. THAT AGAIN JUST SHOWS HOW HE APPROACHES BUSINESS.

QUINTANILLA: YOU TOOK US TO THE TOP OF THE HOUR. THANKS FOR CALLING IN. GOOD TO TALK TO YOU.

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