it's about sustainability where we live and work. >> reporter: the berkshires are known for a certain lifestyle which attracts cosmopolitan locals. >> it took me ten years to move here full time. >> reporter: a native of the south of france used to be a fashion editor, now runs his own gourmet shop. >> we take berk shares from our customers when they purchase food or items off the shelf. and we also pay some of them locally with berk shares. >> reporter: is it more a political act or self-interest act in the sense that you get more business if there are more people circulating or owning berk shares? >> it is a bit of both. we try to operate local industries and put a stop to big stores coming in and not having the same effect when they do business here as a smaller enterprise would. in that sense it is political. >> reporter: i assume you mean liberal political or left wing. is that fair? >> yes it is fair. left wing, maybe. liberal, yes. >> reporter: so it went everywhere we visited at establishments doing business with berk shares since day one and with recent convertst that alice w

warren buffett's berkshire way ash berkshire hathaway looking good.n your life in ways you may not even realize. from the heinz ketchup to the geico insurance protecting your motorcycle. >> i deeply regret totaling that bike in 2013 but do not worry, i got a new one. love them or hate them, there is no escaping the selfie. they are everywhere. who can we blame for the rise of it? >> i do not have a problem with the selfie. it is a natural human instinct to capture your self. this is how artists use to survive. coatedls of the met our with self east. -- selfies. it is possible. but if we're going to indict ourselves for that, we have to remember the role of the industry. twitter makes to post a selfie when you sign up. if you do not have one on facebook, it will remind you until you post one. these are not social clubs, they are companies and need you to post one so they can make money. was taken at my wedding. ways to just selfie imply that i am too cool. you cannot be a part of twitter or facebook without making some kind of a decision about what you

a berkshire hathaway rachel ray operates the train. -- a were no injuries berkshire hathaway rachel rayrates the train. there were no injuries. tebow is joining espn as a college football analyst. nfl thist of the season after being cut by the jets and the patriots. he says he is not given up on playing quarterback again in the nfl. for was not the best year d.c.. when the government was not shutting itself down, or a -- manufacturing a crisis, there was the affordable care act and a lot to fight about. drama --away from the we gathered leaders of industry and asked them what advice they would give to lawmakers in the new year. i am not an expert on relationships, but if you spend all the time in the relationship talking about the status of your relationship, the relationship is doomed. they would be better off having a cream soda, go to a movie together. if they could ramp down the warfare, that would help a lot. >> when i think about washington, what i think about his leadership, or unfortunately, a lack thereof. leaders bring people together with different views, find common ground,

the nsf is inned by berkshire hathaway. this comes amid concerns about the increase of carrying oil on trains. >>> two of europe's most dominant political parties has a third term while silvio berlusconi was convicted. here is a reminder of some of this year's political plays. ♪ >> this has been one of the tightest election races in the political history. a country that's used to wandering coalition running the show. >> this result calls for deep intro expect. we have to understand, to look at the many reasons for this defeat. >> breaking news from thailand, the prime minister says she will be dissolving parliament. >> no reprieve for silvio berlusconi. >> stunning victory for merkel over the weekend. her own party holding more than they've done in the last 20 years. >> i, kevin michael rudd -- >> you're once more open to this. >> some of the political power plays particularly out of asia, as well. geopolitics is sort of the dog that didn't park. we got a little worried about the u.s., but took it astride, as well. >> it di

berkshire gave the company, tons of cash but we'll tell you who it is. "piles of money" coming right melissa: the young and the restless, the yng are turning on president obama in a big w w, harvard poll shows that the youth is unhappy with president's perffrmance. today's money talker. this is the iop group at harvard, the young president. they are a left-leaning group. here the results are very anti-obama. what d you think? i think people -- young people especially are fed up, they don't believe anybody any more, i don't blame them. melissa: not anybody. >> they don't like obama, and return and their parents, i don't blame them, everyone is bummed, who is happy? melissa: we dragged in our own young person here. you can represent the young people. >> i agree 100%, young people are so fed up with politics as normal, they are tired of the rhetoric and experiencing reality of bad politicians in washington. they are experiencing the pain of their own vote. melissa: how. >> higher premiums, youth unemployment. crippling student loan debt, they are experienci

the railways which own the crash green is a subsidiary of warren buffett's berkshire hathaway.eystone pipeline project claims trains are a safer way to transport oil around the country. let's bring in sandra smith. what do you make of this? >> warren buffett would have a lot of folks to answer to in small towns in north dakota affected by this. as of last night at our five cars a blade, a lot of talk about the health and safety of the people surrounding this. one of the train lines going west, the other one going east carrying crude oil, both of them owned by berkshire hathaway, warren buffett has pushed on the issue to transport crude oil, north dakota, second-largest producer to the united states, all these trains are running around with crude-oil, spoken out against the pipeline and here we have an example of how even the railways are at risk. there are some questions that need to be answered. they pose a risk at the end of the day. what is the lead to threat? this is a mess. stuart: i want to know how much money warren buffett and his company have made by transport oil by r

berkshire gave the company, tons of cash but we'll tell you who it is. "piles of money" coming right up. [ male announcer ] this store knows how to handle a saturday crowd. ♪ [ male announcer ] the parking lot helps by letting us know who's coming. the carts keep everyone on the right track. t power tools iroduce themselves. all the bits and bulbs keep themselves stocked. and the doors even handle the checkout so we can work on that thing that's stuck in the thing. [ female announcer ] today, cisco is connecting the internet of everything. so everyone goes homhappy. [ male announcer ] they are a glowing example of what it means to the best. and at this special time of year, they shine even brighter. come to the winter event and get the merces-benz you've always wished for, now for an exceptional price. [ santa ] ho, ho, ho, ho! [ male announcer ] lease e 2014 e350 for $579 a month at your local mercedes-benz dealer. melissa: the young and the restless, the young are turning on president obama in a big way, harvard poll shows that the youth is unhappy wit

both trains are owned by berkshire hathaway's bnsf. no injuries so far have been reported. we should say the fire will likely raise some concerns, though, about the increasing volumes of crude that are shipped by rail. right now, more than two-thirds of the state's oil production is shipped by rail. we're going to go to michelle with more of the top news stories. happy new year. >> it's nice to ring it in with you, andrew. >> it's very nice to be here. >> warren buffett's berkshire hathaway is buying philipps 66. berkshire reported owning about 27.1 million shares of philips 6/6 at the end of september. that stake is worth just over $2 billion. a phillips 66 filing said it would be getting 19 million of those shares in explaining for the specialty product focusing on the science of drag reduction, specializing in maximizing the flow potential of pipelines. so those two previous soers going together, right? train derailment, lots more pressure for the keystone pipeline and something to make the oil move faster on the pipeline. >>> marve

on average 463 shares of berkshire trade a day and intel, trades about 30 million shares per day.big deal for a lot of traders, especially brokers out there trading these shares. >> absolutely it is. dom, thanks very much. >>> all right. we've heard a lot about drones lately but they aren't just for the military. even amazon is thinking of using them for deliveries. just how big could the business of drones become? josh lipton is live in midwest city oklahoma with that part of the story for us. hi, josh. >> hey, sue. you say the word drone and a lot of people probably think of the military's predators but there are big potential commercial applications for drones or unmanned aerial systems as the industry calls them from farming to oil and gas exploration. by the end of the year the faa is expected to pick six test sites to collect data on drones. oklahoma could be one of those sites. private drone manufacturers say there is real opportunity for this industry. ben kim ro the executive vice president of tactical electronics. he sees a big market for his drones. >> there are really

you know, i just think berkshire is an amazing portfolio of companies. an amazing group of ceos.tter group much ceos in this country. cheryl: your dad calls it, quote, likes to go game hunting. that is what he calls it. that is for companies. when you look to the future, what kind of companies do you foresee? in your portfolio? >> in what? cheryl: in your portfolio? >> it won't be my decision. i will be a little guy off to the side. as non-executive chairman you will have a very good ceo and a board with tremendous amount of experience and it will be a collective effort. cheryl: i think you, i watched watched liz's interviews with you and your father. seems you evolved and taken his lessons to heart how to run a business. warren buffett is so famous of saying i don't invest in something i don't understand. we didn't listen to him in 2000. we should have. >> he always talks about the circle of competency. you have to remember most people's circle of competencies are not that large. you within them. doesn't mean you don't get outside of comfort zone to learn. you stay in the circle

you have berkshire hathaway. it is a long list. buybacks and dividends. that is what they want to see. investors want to see the cash flow coming back to them and they will probably get it because you have been talking to reporters that say gm is releasing their biggest product launch in a generation. >> listening to matt miller a little bit too much every time that video comes on. >> when you talk about a company like gm, it comes down to product. it is a pretty compelling story. think you for joining me, christina. from private equity to hedge funds, we bring in a tech expert that is one of the most active m&a lawyers in new york. andhe last two years, he his team have closed more than 800 venture and growth deals. of thegetting to the end year, thank you for coming in. you and the senior partners at your firm, you have this really healthy exercise and each give one page of expectations of yourself and of others. you say you have a little bit to learn from keith richards? >> i believe that you pronounce it with an f. we have to get the rolling stones co

he has been holding his fortune as a classic value investor ever since he became ceo of berkshire hathaway of his fortune is tied up into the company. he was added to the list in 1985 when its stock top to $2100 a share. since then it has gone up 83 times in value. he added $12 billion to his savings just this year alone. matt miller took a look at how deeply the or call -- the oracle of omaha is investing. >> as you can see, he has a stake in everything from toothpaste and diamonds but one sector he has bet big on is banking. although the financial crisis exposed how risky paints can be, and he has not shied away from the sector. he told charlie rose what he looks for and why more regulation may not be such a bad thing. >> any huge finance to listed --tion is so important financial institution is so important to get saved. i would make sure that the ceo walked away broken i would say the director should the released. everything they have earned the previous five years or so. >> in all looking like a great year for the oracle of omaha, 12.2 billion dollars this year, about $38.2 million, t

if they're not opaque, we can make a judgment, berkshire hathaway. if they are opaque, i don't touch them. john in texas, john. >> caller: thank you. greetings from austin. i have all your books. watch the show every day, live and record and admire your energy level. >> thank you very much. >> caller: no problem. my question about your ongoing suggestion to buy stocks here is in increments. >> right. >> caller: i understand why, but doesn't that eat up commission money even though it can offset capital gains or losses? what's your take? >> my feeling is very strong on this. when i got in, commissions were quadruple about what they are now but i still recommended that strategy. so it's even better now with the commission rates low, so no, i'm not going to back away from my view. commission rates are low enough that you can do that trading and not hurt yourself. nick in new jersey, nick. >> big booyah from hoe boekin, new jersey. >> caller: i want to give a shout out to my brother who is overseas in the navy. >> thank him for serving. knowing i might b

warren buffett berkshire hathaway, his major company is buying a unit of phillips 66 for $1.4 billion. not in cash, they have about $42 billion in cash but they're doing it with shares of phillips is to six which they already own, 19 million shaaes to be exact. as a result of that deal, we are not sure why this is happening, he is trying to avoid taxes or think they have already risen so much this year, we don't know. it is not only lifting the shares of her chair and phillips, but many refiners and sectors. back to you. cheryl: thank you. temperatures may be dropping but one market is feeling the heat. that is natural gas. why are natural gas prices on fire? because of the frigid temperatures that we are seeing all over the u.s. jeff flock standing by in chicago with more on that story. jeff: i tell you, it is not just cold in chicago, it is called all over. i am on south street you can see through the snow. a lot of people making a bet on natural gas. futures contract lost 4% but look at why it has been up lately. this is the weather driven. see where it is abnormally cold. few look

berkshire hathaway is swapping about $1.5 billion in shares in phillips 66. worth full ownership of the company. the deal is expected to be completed in the first half of 2014. home prices in 20 u.s. cities ,ose in october from a year ago values jumping by the most in more than seven years. this is according to the case schiller index. the real estate market will probably get it next boost from gained -- gains in employment. netflix is testing new prices, based on the number of people who use one single account. the plan provides access on as many as four screens, letting household members watch different shows at the same time, but it could cost you more. netflix says it is just in testing phases and the price --ges could rise from 699 six dollars 90 nine cents to $11.99. we turn now to the trends for the new year. we turn to bob rice. from theickards, both same company. with blackstone. jonathan gray was there. blackstone is the biggest landlord in the u.s. and hilton is the biggest hotel company in the u.s. a pretty big play for a pretty big company. >> it

early is ceo of hsn affiliate unrealistic brokerage network and berkshire hathaway's own services.ow with more. what are you thinking of the outlook overall? where are we and where are we going? >> the overall outlook for housing is positive. notwithstanding the fact that we are in a seasonal area where sales are slightly declining. overall it looks very good. people buying houses for the absolute right reason, a place to live, a place to bring up your family. there are not looking at it as a vinyl cited atm. dennis: but a lot of the sales have been driven on the rapidly recovering markets that have fallen the most such as south florida, have not a lot of these sales been driven by investors buying homes rather than by people buying homes to live in them? >> sure. investors a been a large part of the marketplace and tend to be the first movers, but as the market is starting to recover, the owner occupant perspective, is starting to increase. investors clearly are the fastest moving group within any real as -- real estate market. cheryl: of course the single biggest factor affecting

heine's berkshire hathaway which was fascinating. there was a hedge fund involved. nbc universal comcast. but what will the deals look like in 2014? would it be private equity players? >> i think actually sponsors this year, as we call them, private equity players have actually had a very good track records of monetizing their existing investments, but they have also raised more money from their limited partners in part because they succeeded in returning capital to them. they have a lot of dry powder and, perhaps, on the buy side they should be more active overtime which i think will create continued activity on their side. that said, a leveraged companies are little bit challenging. liz: del. >> del is a perfect example of that process was. that said, there are still a lot of other types of deals that they are involved in, purchasing subsidiaries, using exact -- using existing to buy investments. morses silverlake by ing this week as an example of that several like putting more money into target. and those types of deals happening. i think it will increase. as a b

. >>> berkshire hathaway will buy a special unit from phillips 66.ut a quarter of a billion dollars worth of stock. the units, phillip specialty products, works to improve flow efficiency through pipelines. we mentioned that earlier. >>> revlon will seek to make money and make cuts to the operations in china. cosmetic maker sales in china account for just 2% of overall sales. >>> netflix stock is up only 295% for the year. 2014 already shaping up to be a good year for ceo reed hastings. his salary will get a 50% bump next year, increasing his pay to $3 million that isn't all that much. >>> 2013 average electricity consumption in the u.s. fell to the lowest level since turn according to energy information administration. -- 2001. because of energy efficient appliances. that is today's speed read. [buzzer] cheryl: have you added up how many times you did speed read and this year and beat the buzzer? david: no. cheryl: get the producer on that. david: green, getting ready for new year's eve. cheryl: rollout of the health care law, the government shut do

we have the vice-chair of berkshire hathaway, charlie monger calling it rat poison.hen i brought that up to a vc, venture capitalist out in silicon valley, he rolled his eyes that is because charlie monger is an older gentleman and doesn't understand the way of the future. it is a pretty smart older gentleman. he is a multibillionaire. would you buy it here? >> i would say it is certainly worth paying attention to the technology and where it evolves. if bitcoin itself, the coin ends up being the main manifestation of the technology it is worth far more than trading at today. liz: can i also clarify for our viewers, there is no real coin you get, right? >> no. it's a virtual coin of the it's a digital coin. it is based on crypting tography. it is, what you get, if you really want to feel something tangible is a long string of numbers and digits that you can print out and hold in your hand and that is valuable and you can feel that you have that value in your hand. liz: oh, i can feel a long string of numbers. boy, i'll tell you, we have xm satellite radio listeners, c

. >> yes, some nice news on some berkshire hathaway. it's been a great name for us this year. new year, right, to all the fm fans out there, right on, man. >> tim. >> i've got a huge happy new year to often and going with ge to 2014, a company that's notri. the mix between ge cap 2, their industrial business is moving more towards the industrial. this say great company. china ordered book $8 billion now, go there. >> brian kelly. >> 2014, energy and rates. that's where you'll make your money. you get those right, you'll make a lot of money this year. uso, buy some oil. and a merry new year to everybody out there. >> merry new year, nice. jim. >> listen, it may sound boring but making money's never boring, right. apple. that's your first pick. you're going to be up at least 20% on the year. >> really, apple up at least 20% on the year. >> bk, merry new year. any idea where that's from? >> no, i don't. >> "trading places." >> oh, i've seen that movie too. >> we had a bad week with you with movies. you couldn't figure out -- >> i can watch a movie and i will purge it from my mind

so many companies think that if warren buffett never split berkshire hathaway, they shouldn't split theirsither. that's the bedrock of this era. netflix and amazon are not bound by price to earnings ratios, they're pure growth plays. levered to sales. few other companies get that kind of love. short sellers always try to pin them down based on their inability to show earnings, not realizing that shorting on valuation is a total sucker's bet. may i never catch you doing it. you're basically betting that there are people who will sell these two stocks as they go higher because they think they're expensive, rather than buying more as they rise, which is the most common form of buying for aggressive growth funds. they don't think like we do. they don't think that it's cheaper if it's lower. they think it's better if it's going higher. the short sellers do not understand that beauty is in the eye of the beholder, and they're shorting that beauty. these two stocks drive people nuts. they're very much real businesses. so real that in the case of netflix, it would have been a terrific acquisition

some companies go to -- look at berkshire hathaway, 150,000, 100,000. it's up to warren buffett. companies have to decide whether they think it makes their stock more attractive to individuals or does it make it more attractive to hedge funds, which they typically don't want. i am in favor of stock splits because so many of our viewers don't want to buy stocks in the high dollar amount, even as i know the truth which is if you take a pencil and snap it in half, you don't have two long pencils. this is the same thing. it's cosmetic. in this market, it's working. patrick in arizona, please. >> caller: hi, jim. when you have a stock that's had a good run, we of course take some off the table. >> right. >> caller: but if it's one of our stocks we really like long term, what is the plan to get back in when there are no pullbacks? >> i've got an answer you're not going to like. that happens, you missed it. one of the great things about this market is, you always know there is another train coming to the station. one of the things people don't want to do is say, you know what? i missed

deveto health care, he added to their stake of the company, about the 11th stock add we've seen by berkshire over the past several months. back to you. >> sheila, thanks so much. time to answer your tweets here are our top three tweets that crossed our feed today. first up, damian wants to know if the desk likes any regional and community bank? simon? >> yes, i like regions bank. this was once the poster child for the excesses in the bubble. it's come back really strong. it's the 16th largest bank in the u.s. it continues to recover from the housing recovery, also the increased activity in manufacturing in the midwest. it looks good. up 35% year to date. maybe a call part of my portfolio next year. >> cindy asking whether she should buy dean foods, dr. j. >> more today than just a few days ago, judge. dean foods has made a very nice move going from just under 18 to pushing towards 19. there's some pretty critical levels, though, that she should be watching. i would much more be comfortable holding this one with a bull call call spread. some stocks i'll buy them outright but this one i would

picks up some ocean moisture and then tries to dump it along the berkshires maybe even parts of westernew jersey and even into parts of upstate new york along the catskills. ing from 2 to 4 in duluth as we spread across into green bay. farther toward the southeast, this is where it picks up a little bit of energy. spots of 10 to 1 inches in places that have seen quite a bit of travel troubles across the past couple days and all the way across new york city, parts of new jersey, as well, maybe as far as as far as south as bucks county into pennsylvania. that's about a six-inch snowfall in the next 48 to 72 hours. now it's cold enough that everything is snow. no more ice. i go esthere's some good news there, wolf. >> for all those folks who is having snow about to hit them, their dreams might be coming true if they're dreaming of an i white christmas. >> a lot of white christmass compared to last year, 55% of the u.s. is covered with snow at this point in time. last year it was a third of that. we still have more snow to go. >> let's see if there's a white christmas for a lot of folks out

buffett controls berkshire hathaway.still has about 20% of his fortune in microsoft. jeff bezos owns about one quarter of amazon. these are the fabulously wealthy and you don't get to be there unless you own huge swaths of the big companies. >> he is a very shrewd businessman, but the way he lives is also the way he hires. the way he lives and treat money, he wants to see that as well in the ceo's he hires. he doesn't hire ceo's who are flashy or doing it for the money. he hires ceo's who are doing it for the same as him. >> for the value of the dollar and making sure you're not milking companies. xd likes making money, not spending money. -- >> he likes making money, not spending money. >> exactly. matt g gmail your -- miller of bloomberg billionaires. >> coming up, entries are cracking down on bitcoin. senator, tomfrom a carper from delaware. is selling 70 million shares. we will find out what mark zuckerberg is planning to do with the money. ♪ >> here is a look at some of the top tech stories on bloomberg radar. faceb

berkshire hathaway is telling you is he has confidence in the board of directors and believes the board make a good choice for the next ceo. >> do you have any further sense, robert, or guesses as to who is likely going to succeed warren buffett one of these states? been a guessways between tony nicely, matt rhodes of burlington northern and the man who runs national indemnity have been the names mentioned most often. >> have those names changed for you? that havere the names come up. it is a guessing game. we know they have a front runner for the job but think it will be a closely guarded secret until it happens. >> thank you so much for joining us. robert stays with us. he will be our calls guest in a moment as the markets open up. christmas day for app makers. a look at some of the strangest concept cars from 2015 that took look shareef features to a whole new level and sometimes a bizarre one. ♪ >> you are watching "in the loop." i am betty liu. if you have missed any of the interviews today, you can watch them all on bloomberg. a brand-new experience. make sure you check that out.

berkshire hathaway will swap about $1.4 billion worth of shares of phillips 66 for full ownership of their pipeline services business. warren buffett expanding his bets on oil transportation. hurts local holdings, that stock is up better than nine percent. it adopted a poison pill after it saw "unusual and substantial activity in their stock." and there are questions about who might have been pushing for some changes. they are trying to defend themselves. speaking of big ownership in the stock, look at marble technology. the chip maker rising after kkr said it had taken a 6.8% stake in that company. those shares are gaining. now, to our big story. netflix has had a huge year. speaking of more superlatives. quadrupling this year making it the best performing stock in the s&p 500. the streaming service is shaking things up. the company announced that it is setting a new pricing structure and an attempt to provide access on as many as four screens. they will let household members watched it for shows at the same time but it could customers to pay more for official family members. >> it

." ♪ >> 2013 was a big year for berkshire hathaway's warren buffett.d his personal fortune had risen. let's take a look at everything warren buffett has invested in and how it reaches your life. ♪ ♪ ♪ ♪ ♪ ♪ ♪ cool. coming up, the cofounder of mobile payment system square on giving back. helping to bring jobs and companies to his hometown of st. , missouri. stay "in the loop." ♪ minutes past the hour, which means bloomberg television is on the markets. we are up over 30% in equities this year. we are on the markets again in 30 minutes. up, shoppers take aim at target. the retailer facing dozens of lawsuits after massive data breach. we will have an inside look at what lengths producers go to to win that oscar. ♪ >> welcome back. jobless claims fell 42,000 last week. department estimates that the holidays will make it difficult to adjust for filings. there are seasonal factors here. taiwan find apple for restructuring -- restricting prices. .hey require wireless to request permission. that is a violation of the free trade laws. amazon is trying to mend f

berkshire hathaway ceo war and buffet.iewed as well for my book work smarts, which by the way have -- i have a copy of. >> and is out, is a physical book. it is out today. i reviewed several ceos for their best career advice, and warren buffett said that when he buys other companies, he tries to buy companies were the have a feeling about the company, and then it's up to me now to destroy that feeling. i can't put into something that does not have it, but i can destroy if it's not in there. biggestbuffett, the day of my year is when the annual letter comes out. it is a wonderful thing. >> i have heard nobody ever say anything other than they love reading your letters, because they're pretty much the irritated me of write an annual letter to a roach a little note pretty much the highlight. i didn't write an annual letter, but i gave you a little note. we're going have excerpts on bloomberg.com. >> i can't read this on tv. >> the wealthy business only in the ukraine could play a key role in the battle for the future of the u

berkshire hathaway will swap shares of philip 66 for full ownership of that company's pipeline servicesbusiness. equivalent to about 19 million shares of philip 66. the u.s. drilling boom has expanded crude oil and natural gas production. we know prompting pipeline operators to boost capacity. this goes hand-in-hand with his investment in railways as well. >> this occurred yesterday, i believe, a car derailed and hidden oil transport train. this is what he is getting out in front of. the oil boom. how do you move the stuff around? >> safely. >> this is an extension of his drive to be exposed to commodities without taking the risk of actually being exposed to the commodity itself. i want to rip up the script with all of your wonderful reporting on mergers and acquisitions. do you expect more transactions next year? guys,m the private equity looking forthey are an increase in rates to kind of grades and dislocation in the markets and create some buying opportunities. at least that is what they're saying. they have been so inactive for most of this year that they're saying, ok, next year w

on berkshire >> i have had a hard time getting my dad interested in a different t is story. >> howard great to see you chances" thor of "40 and the president of rwanda paul kagame. >> who do you think is responsible for turning the around? we have a bloomberg national poll. debate over the use of cell .hones on planes to s.e.c is getting ready vote on changing a decades-old law. the anniversary of sandy a new ming up, we see study that tells us a lot about what is going on and what there and shows us gun .wnership has been increasing there hasn't been enough to estrict sales to people who shouldn't have them. ♪ ♪ >> president obama is probably not feeling the love. ccording to a bloomberg national poll americans don't give him much credit for the economy. white house correspondent joins also with the result and is tom keene. approval ratings continue to go lower. >> that's right. bloomberg ng this poll is no exception. his approval rating is a new lelow 42%. democrats think that this number but go up the next year the president and by default his party is not getting credit for econom

i remember when leon coop aerma came to my office in 1984 and say berkshire hathaway is a $200 stock, you ought to tell people to buy. i said i'm going to sell and it tell people to buy for 200? it went to 100,000! >> that was good. >> i know a mom and pop who bought three shares of berkshire hathaway who have retired nicely on it. >> go to omaha once a year. that's what it's all about. >> yes, it is. i don't think that's wrong. i don't want to lose sight of the fact that he has pioneered and done many things right. if your template was to do what buffett did, you would be laughing at what mastercard did. these guys are not lightweights. they're heavyweights and they want more people in their stocks. the north face, you buy the jacket, but not the stock, not if it $200. people think it like a mark down. we've had some stocks that are markdowns but unfortunately they were collapses. >> we'll talk about joy global -- >> you get a market split, as you say. >> ooh, i like that. >> rite aid had one of those and sprint had a market split. >> those are bad split. >> nokia and lucent back fro

berkshire hathaway is buying it in a deal valued $1.4 billion. receiving 19 million shares currently held by brookshire. -- brookshire. lori: let's check in with peter barnes coming up with all the data for us from washington. peter: rising two tenths of 1%, less than expected occurrence the case-shiller monthly housing index but prices posted strongest annualized gain in more than seven years, up 13.6%, the fastest pace of growth since february 2006 back in the bubble days. an author says don't expect it to continue in 2014. also, do not worry about a new housing bubble. the economist david blitzer said "monthly numbers show we are living on borrowed time and the boom is fading because price increases are getting smaller each month." he predicts closer to historical averages. he says the key issue for the strength of housing in 2014 is the federal reserve efforts to keep mortgage rates down throuuh quantitative easing bond purchases, which it is now starting to taper. all 20 cities in the index rose year-over-year led by 27% gain in las vegas an

berkshire hathaway will trade $1.4 billion of stock it already owns in phillips 66 for one of the refinersmaller chemical businesses. it will help capitalize on a 2008 investments you made in conoco phillips which used to own phillips 66. in that deal, he paid roughly $82 per share for 85 million shares of conoco which now trades at $70, but today's acquisition shows how the oracle of omaha can turn even the worst deal into a good bet. coming up, tim tebow ringing in the new year with a new gig. we will tell you where he landed. one of the most popular resolutions year after year, losing weight. how many of us actually stick with it? almost nobody. we will tell you about that. and she might have if notor kari, the identity thief who stole jill's social security number to open credit cards, destying jill's credit and her dream of retirement. every year, millions of americans just like you learn that a little personal information in the wrong hands could wreak havoc on your life. this is identity theft. lifelock offers the most comprehensive identityheft protection available. if jill ha life

he doesn't even want his old berkshire hathaway headquarters.ts. apparently no one wants it but the mayor is going to try to get someone excited about it. those are the top ones. >> i can see them try to turn it into a landmark. i want to go back to the first story about the drone and amazon. in other words, if i'm jeff bezos trying to draw attention to what i'm doing, why not come out with the octocopter and get everyone talking about it? it is actually ingenious. >> the experts we talked to with that amazon buzz you get amazon top of mind. all of a sudden you're thinking about your christmas list, you say, i saw that story about drone copters -- >> is there really a one-to-one connection? >> ad experts say it's top of mind. >> thank you for joining us. >>> coming up, fast good workers are planning a nationwide protest thursday. they're upset about the minimum wage. one will join us to state his case. keep it right here. [ male announcer ] here's a question for you. if every u.s. home replaced one light bulb with a compact fluorescent bulb, the

still a couple of heavier showers over the berkshires right now. the snow just about done there. two to four inches. the issue tonight is when the sunsets, brooke, if the road is still wet, then that's when it's going to freeze up. with the sun out now, a lot of it is going to melt and go away. there still will be bridges with ice on them. >> go slowly. but this morning i did walk out and about in central park. people were out taking pictures. first big snowfall. it was beautiful. chad, thank you very much. >>> new details are emerging today about that scuffle that investigators say forced a campus police officer to shoot and kill a texas college student. authorities say 23-year-old robert readis turned belligerent during this traffic stop near his school. the officer here, corporal christopher carter, says he was drunk and when he tried to handcuff him, he fought him, even grabbing carter's police baton and hit him with it. the local police chief said readis refused to obey the orders. >> he instructed him 14 times to place his hands behind his back and informed him three time h

the biggest buying we saw was in davida health care, the dialysis health care, warren buffett's berkshirehuge chunk to their stake. they've been steadily adding over the last couple of months. maybe not a big surprise. traders said, some of this is seasonal, some is tax planning. when you've had stocks with such a big run, always interesting to note which stocks are seeing the biggest insider selling as well. >> absolutely. thank you, sheila d. markets stumbling, down fife points. we'll keep an eye on that as we head to the close with 12 minutes left. the last time we started any month with three consecutive downdays was september of 2011. the reason we point that out, that month the market was down 11%. if we finish lower today, that's three in a row. >> that was the last time we had a 10% correction. >>> all those cars driving off show room lots aren't necessarily driving into mall parking lots. phil lebeau and our all-star panel has a lot to say on this story. tdd#: 1-800-345-2550 trading inspires your life. tdd#: 1-800-345-2550 life inspires your trading. tdd#: 1-800-345-2550 where ot

marathon petroleum, valero, telsoro, and philips 66, selling one of the units to berkshire hathaway.d to increase flow in energy pipelines. so at least one deal so to speak in this particular sector, carl. >> one of the great stories of the quarter, that's for sure, dom. thanks a lot. >>> if you're in the market for a new or used car, today might be the best day of the year to buy. our mary thompson explains, she is live at the lynnbrook audi dealership in lynn brook, new york. mary, good morning. >> reporter: good morning to you, carl. you might think of raising a glass of champagne on new year's eve, not driving off the lot with a new car. but if you're still in the market for one, now, and i mean today, it might be the best time of the year to buy them. now, for high-end auto dealers like the audis that are sold here at lynn brook, year end is typically busy time of the year, because clients are looking to spend bonus money, but typically, it's a time to find bargains on all kinds of lots. dealers are looking to make month-end and year-end quotas and lay claims to top-selling bran

we'll watch bigger accumulation in the interior areas, the catskills and the berkshires.ng american families suffering because of the uncertainty the law created. >> that doctor says we need to scrap the whole thing. >> this was not in the dress code. what one politician got so fired up about that he had to strip down to -- that. >>> a panel of doctors unloading on capitol hill this week as they testified about obamacare. >> it's nice to carry a plastic insurance car to say you're insured. it's quite another thing to access the care. >> none of what you're seeing and are about to see is unforeseen. the affordable care act's problem is not computer site. >> the great tragedy are really the tens of millions of americans and hard working american families that have been suffering emotionally because of the uncertainty that the law has created. >> one of those physicians is an orthopedic surgeon dr. eric novak. >> thank you for having me. >> you're a practicing physician. what impelled you to go up to the hill and testify? >> as the three of us said, this is all about trying

berkshire bought that part of the railway that it didn't own back in 2010. it now accounts for 20% of the company's profits. you could look at this and suggest maybe this is about succession planning at bnsf, too, because it will groom a new ceo. >>> it is now time for the global markets report. we are going to go over to london to say hello to our good friend, ross westgate, who is standing by. ross, good morning. >> good morning to you. >> not a good way to start the morning. >> nice to see you. we are on the downside at the moment. decliners outpacing advancers by a ratio of nearly 9 to 1. we hit the session low around about five minutes or so ago. the if it is fwts yesterday was down some 15 points a little more in terms of losses right now. the ftse 100 has been down around three quarters, nearly 0.8% at the moment. the xetra dax is off 0.6%. the cac 40 is currently down 0.2% and the ftse mib currently down 0.3%. utilities, it doesn't get much more definitive than that, the only sector up. the reason autos are down, peugeot citron, amongst the blue chip

market environment in israel is such that it attracts businesses to invest and grow but you see, even berkshire hathaway invests in israel. when asked about why warren buffett invests in israel he answered that the economic spirit of both the u.s. and israel is what makes it a no nonsense investment. investment isn't one-sided. israeli companies have invested more than $50 billion in the u.s. between 2000 and 2009. more than 15 u.s. states maintain offices in israel. and also not just economic, not just military but in humanitarian aid as well. assistance was provided by israel to hurricanes katrina and sandy and the refugees in rwanda. israel established field hospitals and several doctors and nurses were sent with medical supplies and vaccinations. they provided water in sudan. n kits 1,800 personnel and supplies were sent to japan in the wake of the earthquake. they sent people and structures to haiti to aid after their earthquake. it is still hard for me to believe that we're here tonight talking about an agreement that has the potential for such great harm, to not only ourselves but to suc