and that says to me that munger who is 91 and buffet who is 84 are going to keep on going. >> having followed him for many years, your instinct does not tell you he's any closer today to turning over the reins a week ago -- >> he's talking about being more acquisitions big ones. >> let's talk about the company's performance. the stock did very well last year. but the profits were less good. energy and the railroads the problem. >> here's a company of berkshire hathaway that has 80 businesses different things everything from dairy queen and heinz ketchup to burlington northern railroad which had problems this year. many companies tied to the housing industry which had problems. you look at the stock, up 27% last year. and if you look over 50 years, if you bought the stock in 1965 at $19 and those class "a" shares are $122,000 you're making compounded 19 1/2% a year. >> an impressive chart. one thing that was kind of omitted was ibm. and that had some eyebrows raised on wall street today. >> it was ibm, here's a company that they opened for quite a while. you know that the revenues hav

. >> munger. >> looking good on five cokes a day, had strawberry ice cream even this morning.t diet may be the new one to keep you going. >> interestingly, that munger is the one that mentioned these two, and they don't see each other's letters before it's published. they don't change anything. >> again, he did not tell us. >> my friends who are in the insurance industry he is the king. if you take a look there's so much about insurance and how great the insurance business is and how the deals that he makes. no one wants to make the deals that he makes. and he gets the best return. he is responsible for the float. a lot of the exercise in the letter is explaining the float as his main advantage versus other investment managers. and this ajit j achltain, if he becomes the head of berkshire hathaway, i think he'll do fine. >> float's gone to $84 billion in 12 years. 12 years. it's doubled. >> staggering. >> that's the base of that earnings power. >> right. and i think that mr. jain is a competitor. i know that he is considered a shark in the business. he comes in he wants the wh

charles munger did highlight two berkshire managers as world leading executives. just announce? bo: this is biblical like jain and abel. berkshire hathaway is like its own religion. julie: buffett has got a shtick. he is folksy it's all this for breakfast -- it is all part of the shtick. this is part of that michelle g. -- that mythology. bo: showmanship. alix: he says his son would be a safety belt so if someone doesn't like the ceo they can go to him and say hey, can we talk about this? what is that say about his confidence level? bo: stirring the pot. alix: really? bo: does a great job with it. alix: coming up, airbnb is on a chair. the startup is valued at $20 billion. but what is really justifying this valuation? ♪ alix: we continue to count down to the opening bell. we are halfway through. number five airbnb's growing warchest. the company is set to raise funds that would value it at $20 billion or more to it would join the ranks of the highest ranked companies like spacex, uber, and snapchat. what does that mean for the guys who invest? if you are a venture

there was a question that charlie munger had on the eurozone and on greece. eurozone should the rich nations simply give the poor nations all they want in order to avoid an unusual share of economic decline? >> that was his question. should the rich nations just give into the poor nations to make sure there's not an undue amount of economic decline? >> becky, if you have behavior you want to get rid of it's probably not the smartest idea to reward it. if you have a dog that's peeing on your carpet you do not want to give it a bunch of dog biscuits. or you're going to have some -- your carpet after awhile i'll sell you a new carpet. and essentially if people find they can break the rules and you kind of threaten the rest of them by the fact they'll cause you more trouble. and you're going to have a more stains carpet if you essentially give into them. just keep modifying the rules as you go along. >> okay. i would in general agree with that comment, but the situation in greece i think is more complicated. first of all the eurozone stepped in in the beginning a

charlie munger says it's going to be tougher for consumers to maintain their standard of living in the he was speaking at an event in los angeles and says her subject -- says purchasing power will decrease over the next 50 years. heinz and kraft foods make a deal that doesn't need a make a bank to write the deal. the merger is the largest in a decade to exclude the big banks for m&a advice will stop it's trying to be salesforce of cloud security. they're using the cloud to police your office internet making sure nothing bad is in nothing good goes out. the ceo joins me to discuss it. for someone who might not know everything about technology tell us about your business. >> our mission is to make sure the internet is a safe place to do business. the internet is like the wild west. it's wonderful but it has had guys too. we have a cloud security that form the make sure nothing bad goes in and nothing good weeks out. alix: how do you do that? >> inc. of it as -- think of it as -- how do you protect america? we make sure every international airport has good checkpoints for security so we k

charlie munger added to the speculation and said the two managers g. jane and able are world executives who are in some ways better than buffet. tom: let's get the week started and blow through it quickly and get to the screen which talks to the economics. the euro is 1.11. hydrocarbons are soggy down to 1%. on to the next screen. bring it on. there it is. the big 13.34. that's fascinating and is a major headline from last week that the volatility finally calmed down. the german two-year, thanks to the negative team, negative 0.23 on the german two-year and on we go. weakness with the rate cut this morning. over to the bloomberg terminal. brenda demanded i do this. this is inflation back to j.f.k. and l.b.j. the breaking of volcker. what people don't know is how much time we've spent under 2%. if 2% -- if a guy like calamiris put pixels in the air and pixey dust and came up with the number that 2% is the important number and we've been under it a lot as we look at the core p.c. inflator. >> the fed is looking over their shoulder at congress and always

isn't charlie munger on the board of costco and one of the biggest shareholders in berkshire hathawayf amex? elizabeth: it has been described as a divorce. american express has said they were not able to reach costco as well, they were not able to reach economic terms. some investors had said that that is a sign that american express walked away from a deal that was not a good one for them. others are raising questions, is this a bigger problem about their ability to retain other partnerships? that is something, they're called brand strategy and the way in which they are going to approach partnerships moving forward, it is something investors want to hear about. olivia: ken chenault the ceo and chairman has been in place for a long time. since the credential crisis -- since the financial crisis. is his job safe? elizabeth: i have not heard anything as extreme as that. today is an important date. this has really rattled particularly the loss of cost coke has -- costco has rattled the community. they are eager to hear more about how the company will offset this and where they see long-t

. >> like charlie munger says, i have nothing to add. >> you better have more to add because we're talkinga moment. >> he's so full of it. he always has something to add, believe me. >> thank goodness. we need him here. >> ask him about cable vision or something. >> we're very good at bottoms up. >>> coming up stock picks from mario. plus today marks apple's first trading session as part of the dow. we'll talk to an analyst about the tech giant's future. then later has howard shultz jumped the shark with his latest project? the controversy surrounding the starbucks leader still ahead. we're talking about him, though, aren't we? and starbucks. now with the xfinity tv go app, you can watch live tv anytime. it's never been easier with so many networks all in one place. get live tv whenever you want. the xfinity tv go app. now with live tv on the go. enjoy over wifi or on verizon wireless 4g lte. plus enjoy special savings when you purchase any new verizon wireless smartphone or tablet from comcast. visit comcast.com/wireless to learn more. >>> welcome back everybody. our guest host this morni

two top lieutenants in charlie munger, the vice chairman's letter.es, the successor issue still hangs over. >> karen, not far from the opening bell on wall street. markets closed dourch on friday. that did not stop february from locking in strong numbers for the month. what are investors hoping to see for march? >> an up market obviously bu extrapolate what just happened. a lot of optimism in the market and feeding on itself people are feeling comfortable. market's up? i can step in. not going down. counter intuitive. >> you want to buy low. >> people feel more comfortable buying when they're more expressive. >> i knew in 2008 things would turn bad in six months when a good friend said, you know joe, we should really get into real estate. at that point i said this is the seventh sign. >> this one's for joe karen and sara. samsung hoping its latest phone line will turn the tide in the battle for cell phone supremacy. called the galaxy s-6 and s-6 edge, both phones have a 5.1 inch screen that's big, and a 6.1 pixel camera. the screen surface over the e