David Trainer, president of New Constructs, put the Uber initial public offering in the 'Danger Zone,' calling the new offering a scam and saying that the company's growth projections are fictitious. He noted that Uber's projections would have it capturing 15 percent of all global economic activity,while the company is 'losing absurd amounts of money ... without any path to profitability.' Also on the show, University of Maryland professor Russ Wermers discusses the importance of active managers in maintaining an efficient market, and Jack Bowers of the Fidelity Monitor and Insight newsletter talks funds and ETFs in the Market Call.
Money Life with Chuck Jaffe