Full video and transcript below:
et’s get more thoughts from our guest host, mario gabelli. he is a master of the market. i have a question for you. it has to do with a little tech company in silicon valley. it is yahoo. what we ultimately think is going to happen to yahoo. financial engineering takes many forms on how to sur vface values. we’ve watched kraft splitting up and then fortune brand and then allowing the pieces to settle. in the case of yahoo, the tax issue is the sticky part in figuring out the value. everybody can multiply, andrew, the mark to market value of their holdings in japan. what they were able to steal from them and what’s left. not steal from them, but divert. bad word. and basically, what the values are in the united states. now here’s the guy that turned down the $35 bid trying to orchestrate what he’s going to do with the company. how is that possible? so what’s going to happen? i’m not an expert on yahoo. but my team believe that it’s worth somewhere between $21 and $23. the stock is $16. so that’s the question. today in the new york times, your up into newspaper, basically has the ad saying they’re buying into the tombstone is. there so essentially, you know, what’s it worth? where do we get the value? so $16 is where the shares are right now. the question then becomes you’re $21. how do you actually get to $21? do you think they get there? given the questions about jerry yang’s involvement. you have a bidding war. i’m not an expert in this area. a pilot turned the ship into tokyo bay. fortunately, no one died. right. they asked him why did he do it? he said why not? jerry yang, what did he do? he turned down $35. the stock is $16. so why should he guide you — do you think he should recuse himself? i have no skin in the game, okay? we own a couple million shares. other parts of the firm. i like what i like. and i want you to buy general mills and genuine parts. focus on those companies and then industrial america. you want to talk about the other stuff you sflik pcp. always. well, i was talking about the notion of vendors to the — what is important in america with regards to reducing our balance of payments an our deficit and creating jobs. tomorrow you’ll have on the guru who will be more articulate and more focused. let’s talk about shale and fracking and hor zantal drilling. as soon as we worry about the water and not only fracking water but the entire environment. water — you think it’s a huge investment? you think it will work out ultimately. shale? yeah? i mean where is the doubt? my only — the reason i ask is only because we have so many political forces. you’re still banking on solyndra. i’m talking about economic forces. i agree with that. i’m not disagreeing with you. i’m just suggesting that when you make investments in this area you have to say to yourself that there is a political die nam nick what you think ultimately that means. andrew, the political dynamic is in saudi arabia. what if the conservative government runs into a spring — are you willing to run the risk of this country? no. i’m with you. doesn’t sound that way. i was asking the question — joe and i have been having this conversation about the pipeline last week. what does that mean? on the back of becky’s car. do you hope — she is going to have a wind powered car. where did you come up with that? it’s called a bike. you, on the other hand, hopeful think there is never a cloudy day for your car. oh, you don’t have a car. my bicycle. mario, good to see you. always a privilege. last larry when he comes onboard merging markets. thanks for coming in. always great to see you, becky. you, too, joe. thank you.