buffett has two deputy investment managers.e in trusts of them with $9 billion each of berkshire's capital that they go out and get to invest in a way they see fit. what we have seen is one of these guys, they happen to be younger than buffett who is 85 -- of these deputies is in his 40's, another in his 50's -- one of those guys liked what he saw and put $1 billion to work for apple in the first quarter. i spoke with a lot of investors today, and some of the themes they were hitting on is that apple has a ton of cash. it was trading at a pretty low multiple, and so investors that like good value, maybe there was some opportunity there. emily: the two investment managers we are talking about, todd combs, ted weschler. it's interesting that the one tech bet buffett has made hasn't panned out. all tech isn't all the same, but given the history of ibm, how does that and your thinking around this investment? shira: obviously, the ibm investment was buffett himself, and this apple investment isn't. that ibm investment has been one o

it's possible that warren buffett listens to dan gilbert's pitch. and buffett have a relationship.ay be buffett decided, look, give me enough protection, and if gilbert is working with ex-yahoo! folks, they may decide the core business is worth zero. maybe they convinced him the company isn't going to go bankrupt, and therefore, it was a decent investment for him to make. on the other side of it, we can't really explain what yahoo! is. if tech investments in general are off limits for warren buffett, you would have to understand why yahoo!, of all tech companies, would be something that would intrigue him. ah, buffett did help burger king takeover tim hortons. -- $5 billionion into goldman sachs. does yahoo! make sense in the context of those investments? noah: sure. noah:the way to look at this is it's a financing arrangement. berkshire has a huge balance sheet, and buffett brings his reputation to the table. it lens instant credibility to to buywho is trying another company. because of that, he is usually able to get incredible terms, and it's a way for him to put some of berkshi

that baby buffett will prove warren buffett wrong. i tell you that is a big bet, liz.le investing advice, but man this is company, when you have $32 billion in debt and being attacked by congress and warren buffett, you have a volatile stock on your hands. you pick your poison there. liz: you have got a problem. >> yeah. liz: still trying to call yourself baby buffett. thank you very much, charlie gasparino. okay, so, let me just bring in charlie monger here along with warren buffett. charlie, bill ackman really wanted you to speak to him because he said you're doing reputational damage to a company you don't understand. he wanted you to change your mind. will i change your mind on valeant? >> i don't think so. you know, there has been a complaint about my saying that valeant is a sewer. i thought the complaint would come from from the sewers. i didn't think anybody would be defending valeant. liz: warren, you said this company had seriously flawed business model. investors piled into it and tried to get you to go into it. >> that's true and, we have never been long or

liz: boy, you sound like buffett. he loves china.sn't matter if it has a few stumbles, every economy does. elliott warren, you could call it a stumble or a continuation on the path of a supply glut that doesn't go away. >> well, it doesn't go away. but you have to understand also crude -- we bottomed out around $26, so we've seen crude rally, what, 80% since then? we've had a $20 rally. liz: yep. >> to me, it's inexplicable, but i'm always mystified by crude lately. [laughter] i thought $42 was an interesting area. we got through that. it was sort of an expiration and a $2 click up. i have trouble saying oil's a big buy just because, like i said, there's a huge glut and we are up 80% in the last few months. liz: yeah. and we should also mention that the u.s. dollar index, while it's up, the dollar has been pretty noisy today. and anything that's dollar-denominated as a commodity like oil or gold becomes less attractive on a day like this. great to see you, guys, thank you so much for joining us. >>> closing bell, we're now 39 minutes

buffett. >> some have called you baby buffett. that was you on the cover of a mana magazine not that long ago. >> that was unfortunate, yes. i have a lot of respect for warren buffett. i don't like the notion of, i'm not trying to leverage off of mr. buffett's successes. i didn't choose the title of that cover. maybe that was very bad luck, that cover. it happened to be right before the worst period -- >> like the "sports illustrated" jinx. >> for sure. i want to stay off the covers going forward. >> what is interesting when people think about you and your investing style, you generally like to go all-in. you are an all-in guy. herbalife, valiant -- >> you list the worst investments. those are the worst ones -- >> in general. >> in general r, mention the go ones. >> what is it about you that makes you -- >> we are a concentrated investor. our view is it's hard to earn above average return owning a 1500 stock portfolio. the benefits of owning a few companies, you can invest in the best businesses you can find, get to know them extr

buffett owns things for a very long period of time. we can remember those instances where he has chosen to hit the sell button, but they are far and few between. whether it's amex, iibm, wells fargo of course been a great success, coca-cola, so many of these names been in that portfolio for such a long period of time and ibm now seems to be one of those we can add to that. >> yeah. i think that when i look at ibm i think, yes, they can reinvent, but what was he in it for? for the buyback, the dividend. i remember when he said he didn't want to be in technology. i did not get warm and fuzzy about ibm from listening to him. again, look, you feel great about the world with warren buffett. you feel not so hot about the stocks he has. now, i don't think he means to be as lack of promotion as he is. i just think that's kind of his way. i would love it if he said, you know what, this is the level where you just got to go buy walmart. but i felt like, david, the real takeaway is this is the level you've got to own amazon but he didn't own any

and he goes, "yeah, some people say that, well, or buffett." "like warren buffett." and he goes, "yeah, yeah i've heard of him," he goes. and the individual sits back and goes, "well, you kind of look like him." "yeah, i've heard that." never once did they realize that it was howard buffett, his son. >> sreenivasan: we want to note, that b.n.s.f railway, an underwriter of this broadcast, is owned by warren buffett's berskhire hathaway. that connection had no impact on the reporting of this story. >> sreenivasan: two weeks ago, pope francis visited refugees on the greek island of lesbos, a way station on the migrant trail into europe. though he was there but a few hours, the pontiff made headlines the world over when he left the island with three syrian families-- 12 people in all-- bound for rome. late last week, yahoo news global anchor katie couric sat down with four of the refugees at the vatican. here is a brief portion of that interview. >> reporter: it must be wonderful to be safe, but it also must be hard to leave your country. >> yes. no doubt, god willing, w

buffett seems to have this halo effect.e analysts we spoke to said that buffett always gets his terms. we don't know how it will happen, but if it does happen with buffett involved, you can expect there will be favorable terms. david: what is the timetable for when these bids will be weighed? emily: they are whittling down the pool right now. we know tpg, verizon are still involved. it has been a fairly opaque process. we don't know yet how it will play out or how quickly, but we are monitoring every development closely. david: emily chang, thank you. we will have more on warren buffett 6:00. coming up in the next hour, betty liu on today's trading. stocks trading around session highs. ♪ . . betty: it is 3 p.m. in new york and 3 a.m. and hong kong. will come to bloomberg markets. -- welcome to bloomberg markets. from bloomberg world headquarters in new york, good afternoon. here is what we are watching at this hour. markets beginning the week rallying with oil prices rising to a six month high, leading to a rebound in commo

if history is any indication buffett buffett's bets don't always turn out for the best. we'll discuss that. first, we start off with a rally. while everyone was obsessing over berkshire's latest buy, what really drove the market today is what's been driving it all year long. that is a rally of energy and materials. this was called the dash for trash trade. is it now the global recovery trade. >> it's the global reflation trade. whether it means the world's okay or not, i think are two different questions. whether these things were oversold or not is part of the story. the fact that i think commodities have put their bottom end, and that's -- i'm not going to hedge it saying it depends on what the dollar does. we come to a place where a lot of supplies have been taken offline. you've taken a lot of supply in the oil space. you've got bankruptcies. places that things that people wanted to see you have the ridge count numbers, doha collapsed, and here you have oil. i think it's telling you that we're in a place where a lot of the trades are getting back to a place where i t

warren buffett for us. oil rallying the highest in six months. -- goldman sachs raised its price and said they saw supply deficit sooner than expected. wti above $47, brent at $49 and change. we talked to julia lee, the first world oil strategist joining us with more from london. julian, thank you for sticking around at bloomberg. let me ask you what you think about goldman's forecast. the bank has trouble with its asset class forecasts, but are they on the money here? reporter: we have certainly seen the things they pointed out. we saw strength in demand growth being reported by the international energy agency. they raised their assessment of first quarter demand growth. they have not really done much with the four-year demand growth picture yet. they have shifted things around of some of the asian economies, less growth in europe and places like the middle east. but i think there is a sense that demand growth is a little more robust. it has seen more robust than it did two or three months ago. on the supp

they are not the same way out in public as warren buffett is.ssible they are looking at a company like apple and they feel they can get their mind around it so they are willing to put money to work. you say it's not a huge amount of money for berkshire hathaway or apple. correct,culations are this makes them the 57th largest holder of apple shares. >> that's another great point. because berkshire hathaway needs to take larger positions, it does notlike to move a stock when they are investing in it. apple is good in that sense because there is plenty of flow and they can buy $1 billion without really tipping their hand. apple has had its issues and you can say apple is a case of berkshire buying low. that's what you want to do and eventually sell high. i get your point that this may be more of a financing deal with yahoo! but it has been through troubled times. how much of this has to do with --over the last five years yahoo! actually outperforming the s&p 500 it index mainly because of allie baba. when they decided the fate of their states, the

warren buffett, he is taking a bite of the big apple. >> billionaire warren buffett was made -- has madey lucrative investment but has so far avoided putting money into tech companies. until now. his firm has reported that he has acquired apple shares during the first quarter. apple only recently decline in revenues for the first time in 13 years. with buffet is a prominent stakeholder, things could the prominent again. for a closer look at that and the latest taken the market, let's bring in our correspondent. warren buffett is getting into tech stocks. what is happening? >> one thing's for sure, when warned buffet calls investors --overall warren buffett is not known as an activist shareholder, he's more of a value type of investor, meaning he is probably not going to ask for big changes within apple. he looks at companies and if he likes the business model and the evaluation he invests in those countries -- companies. if you look at apple, just this past week the stock freely dropped below $90 a share. warren buffett honestly believes the stock is undervalued, that is why he goes into

. >>> and later, what's the secret to buffett's success? we'll explain how to use simple strategies in your own portfolio. as we head to a break, look how the stock market ended the week. introducing the completely redesigned mercedes-benz c-coupe, with its athletic prowess and sleek new body. it doesn't just raise the bar... ...it completely crushes it. the all-new c-class coupe. mercedes-benz. the best or nothing. every auto insurance policy has a number. but not every insurance company understands the life behind it. those who have served our nation. have earned the very best service in return. ♪ usaa. we know what it means to serve. get an auto insurance quote and see why 92% of our members plan to stay for life. >>> welcome back to omaha where berkshire hathaway's annual meeting is under way. it's a company with a 100-year-old history and yet only in the last 15 years has it really found its rhythm with more than $30 million in debt in 2001, jim webber focused the company on one category. run it. it's worth half a billion dollars now.

warren buffett steps in. a 9.1 million shares state of the i've phone maker -- the iphone maker. the stock is up to full percentage points. the fascinating thing is, here we are warren buffett getting into tech. >> he always said he would not do it. he would only invest in things he understands. >> over the weekend, we got the news that he may be in a group of investors taking a look into yahoo!. ,> this is a big shift for him and it is a big endorsement for apple. good news for tim cook. ofyes, there were a lot people beginning to ask about the future of tim cook over the next year. it is a last needing story, and we will continue to keep you updated. it could lift the overall market. charts,now for off the a sharp rise in household networks has picked up the last two major bubbles. the.com bubble and the housing bubble. we are seeing it again, the signs that something bad is on the horizon. seen an increase in net worth. we have seen in a couple of places. the.com bubble, as we were seeing, the asset prices

it's not buffett's investment.des at more than twice the valuation and so they feel like there's some sort of a cushion here. >> got to go, guys. thank you. lively discuss there. scott rothbort and mark headaak >>> and is the offer to take over publishing about newspaper or about the digital side of the business? that's later on the "closing bell." >>> oil is looking up. for where we go from here, let's get to jackie deangelis. what are people saying over there? >> good afternoon, kelly. that's the million dollar question. where do we go from here. we hit an intraday high of 4785. goldman sachs says we're going higher from here. there are a couple of supportive factors. disruptions in nigeria, canada as well as venezuela. they're always pointing to a demand increase. they say we're picking up globally. and also we've got that beak dollar. goldman on wti is saying the second quarter price will be 35 to 45 in that range we've been in for the second half of the year they're looking for $50 crude. 2017 they think wti c

buffett had nothing to do with it.verything else buffett had something to do with, coca-cola, not this one. no, no, huh-uh. these two are the guys. >> you don't believe becky quick when she says -- >> no, it's true. but stealing buffett's money for heaven sake. wasn't like buffett said you two stooges go buy whatever you want. i don't want to know about it. that's not -- it's not that decentralized. but apple's so hated now it's like, you know, it's against a core short that warren has. >> how much -- here's a question. how much cover does it give managers to start buying some here? >> that's a really good question. because you know what, i was looking at coca-cola over the weekend and that stock, it had a good quarter, but it's probably one of the better performing stocks in the dow because i think buffett gives you cover. he can't give a cover for a bank because bank stocks need 72,428 rate hikes within the next two weeks because they can't get out of their way, but coca-cola has the halo. american express had a dece

how did warren buffett become interested in the company?> we and we've always been profitable and successful and our owners at the time decided to sell the company. we went through a sales process. they didn't get the valuation we wanted and my cfo said now we need to talk to warren. warren doesn't get involved in auctions. my ceo knows the ceo at berkshire sent him an e-mail on a friday at 10:00. within two hours, our phone rang and it was warren. he said, tell me about the business, send me whatever financials you have and i'll get back to you soon. that was friday afternoon. tuesday he called back and said we should talk. i'm in town all week. i said i'll be there in an hour. he said come on over. we went over and had a two-hour meeting with warren and at the end of the meeting he said, let's do the deal. >> were you surprised by the speed with which this whole deal transpired? >> a little surprised but it li heard about warren. it was everything -- he came exactly as billed. he was so smart. the questions he asked, he's so intelligent a

buffett has said it is a good place to put some of the plan to work.: what about his relationship with some of these take ceos? hereof shoulders with people like tim cook and others. comes to yahoo!, there are a couple of things to point out. dan gilbert, who is said to be backing that she is said to be known eachey have other for several years. susan decker was a longtime executive at yahoo!. this is not a company that is unfamiliar to him. that hethis morning might not by the yahoo! stock, but certainly he has ways of getting information about the company. betty: is it surprising that he is going in this direction? >> it depends on how big this is. i don't think anyone is talking about this in the sense of a $30 billion deal. if it's a couple of billion that's not super material to berkshire. he still has a lot of cash, he will be back above $60 billion probably in june. if he is putting a couple billion to work in this area, he still has plenty to play with if that good acquisition comes down the road. betty: i want to get a sense from the sharehold

apple jumped the most in 10 weeks amid a $1 billion vet by warren buffett. berkshire hathaway has confidence in the product line, including the new iphone. let us know about today's top stories by following the on twitter. the big open, china and hong kong markets open in 30 minutes but malaysia has just come on. here is julliette. a lot of tailwinds. julliette: i wonder how many it could buy, but we are seeing a big pickup in tech stocks after the surge from warren buffett. $1.1 billion stake revealed towards apple. also on the back of that rise in crude oil and the rally we saw in wall street. half of 1% with exports today. electronic-ail and exports but they will do better than thae month. malaysia is pretty flat. we are seeing some weakness coming through, 2/10 of 1% but there has been a number of stocks that have risen substantially. it is actually up to 21% but has risen as much as 29% to a record. that is stocks on that company. up half of 1%, seeing some good games on the weaker yen. tomorrow, japan's steel work cutting its forecast, down by about 8%

amazing three hours with warren buffett this morning. he talked about the election, the economy and technology. becky quick is live in omaha to bring us highlights. >> reporter: great to see you again. warren buffett is not known as a leading technologist. you could probably call him the antithesis to that but he can spot a winning business strategy from a mile away. when it comes to winning business strategies there are plenty in the world of technology. that's part of the reason that over the weekend he gave a shut-out to jeff bezos. a shareholder had asked a question about trends and buffett said we are not going to out-bezos him. he added this morning with additional comments. listen to what he had to say. >> there are certain people do you not want to try to beat at their own game. certainly jeff bezos would be number one. that would be like me playing chess with bobby fisher 40 years ago, it would be all over on the first move. jeff has shown amazing talent in figuring out how to please customers and in a very short time. >> report

i saw that warren buffett just bought more. think a strong position might be warranted but right now, no new news flow. fribl slow growth to faster growth are behind them. ibm has little price risk. intel is tough. anything related to personal computers. companies had a bad miss. no kidding. it did. it is time for the semiconductor giant to split with exciting forward thinking business that's can dominate the internet. intel's 3.4 yield offers protection but not enough for the decline. 17 j and j. this company delivered the best growth. it is the best balance sheet in the world. phenomenal management. i think money managers, i would pounce but good luck. it probably won't. jpmorgan, not the u.s. economy, not the global economy is strong enough to hand the rate hike let alone what people say it needs. they must be so rich it doesn't matter. that's the only explanation. then must be so rich they don't care where the market goes or where anything goes. if we get that many rate hikes, we freeze markets any way and business will hal

that warren buffett is comfortable with.e and say he is just financing the deal. yes, they think there is a portion of yahoo! comfortable enough to say, i want to get my as an investment. i do nothing can it is a turnaround story for warren buffett. he is not jumping into yahoo! and saying i will own this thing and turn it around. i think it is an important point to make. >> you mentioned we are still weeks away base in your reporting. what do the next few weeks bring? what is the process? >> i have not been told there will be a firm deadline for final bids. it sounds more nebulous. it may happen but it seems like yahoo! will keep talking to the wide net of buyers in the second round. that is still a couple of private equity firms in their. of course verizon. as they talk to them and figure out exactly what they want to to paywhat they want for, it is possible we just get down to a final bitter here and at that point, we try to report that. there is no real timeline because yahoo! and the activist reached a settlement. it wa

we begin with warren buffett. thousands of investors made the annual pilgrimage to omaha this weekend for berkshire's annual meeting known as woodstock for capitalists. it's the place where the world's most influential and well-known investor turns business into a party. at one point teaming up with microsoft founder bill gates in a doubles ping-pong match. he also gets down to business and answers questions from shareholders about his portfolio, about the markets, and he offers advice for investors. this morning he sat down with becky quick for a wide-ranging interview on cnbc and she began by asking him about the economy's sluggish growth. >> we're not living in a world where i think you expect the u.s. economy to grow at average%. the gdp figures are inherently a little more suspect in terms of being precise than year over year figures. but that doesn't negate the fact that the business is slow. it is not negative but it's slow. >> we got the chance to talk to buffet about some of his long-term holdings, some o

from warren buffett. we'll look at this rare move into the dejal media space for the oracle of omaha. wal-mart versus amazon arch rival amazon wants even more of wal-mart lunch by jumping into the private label business with its brand of food product nuts and household items like diapers. >> miami heat face cleveland and in baseball rangers blue jays plug it out. highlights are coming up. 5:01 east coast. monday may 16th welcome to the new week and today's markets. latest breaking and what to expect for the day ahead. >> democrat cial presidential candidates making a final push in kentucky ahead of tomorrow's primary. 55 delegates are up up for grabs in that state after a loss in west virginia. hillary clinton tries hard to win this support from kentucky's coal industry. >> i'm the only candidate who is has actually put on the table a plan for coal country. a 30 billion dollar plan because i don't think we should leave behind the people who have turned on the lights and poured the factories of the united

not really a buffett stock.a value stock because the real value people, and buffett was always in this camp, look at asset value and whether the market cap is close or even below the book or asset value. technology companies never fit that profile, which is why for a long time buffett didn't invest in them. and apple certainly does not -- it has still a much bigger market cap than an asset base. so the real question is does it have a defensible profit margin? are there bearish entry? is there a mote that's going to keep competitors out especially if it's key smartphone market. >> and you did talk to other mutual fund investors and advisors. >> i did. >> what did you learn? >> it's one of the great conundrums of investing right now, like what is this stock? i mean, interestingly 40% of the so-called growth funds still own it, only 20% of the value funds own it. so if this is a really shifting, there's a lot of movement going to take place there. but you have growth people buying it. you have value people not buyi

warren buffett about a million dollars worth. the stock has been beaten out of it too far and too much. the sultan of stocks as you sometimes know, invest in the company. that movement was big enough to change the makeup of the most valuable company on earth. being the most market rich capital company on the planet. all right. other situations we are looking at. pfizer and a $5 million bid. the deals are back in town. the bidding wars are back in town. who, by the way, whoever said that prince is dead. another development we are reporting right now. donald trump. the question is, whether he can get them off. will there be others out there, the casino mogul and did billionaire. touting a general election. can he get them? former marco rubio fundraiser. what do you think? will more follow? >> many, many will follow trump out of various motivations. good afternoon, neil. i think you will have plenty to work with. the question is, how much does he really need? if you look at rubio cruise and jeb bush, they all have far more money the

buffett defended a lot of stocks that have performed poorly. he can get away with it. it allows for short or even medium performance. even worse, the most diffusive praise this morning. one more unbelievably riveting, it was am skon. and the remarkable job he's done for a company whose stock warren buffett does not own. wait a second. he has a huge holding on walmart. which some would say is being eviscerated. that's amazing. buffett can say it. not a hedge fund. that means he can be candid without jeopardizing it. yet if the average money manager were to come on cnbc and say that he likes it, the moment he got back to his office the question would be, have you lost your mind? why are you investing on company being carved up by competitors that you clearly like more than the stocks you invested in? the investors would be clamoring to get their money back. last week carl icahn came on and he talked about how he sold every single share of apple. a company he had repeatedly praise in the tweets. he said he sold it because he was worried that the chinese sales and wanted a

with a little help from warren buffett.etails on a possible sale and the players involved straight ahead. >>> apple's tim cook going on the offensive to woo the chinese governmenter. he's meeting with app developers and going to an apple store as he shows chinese officials he's serious about doing business there. a live report from beijing minutes away. >>> and basebrawl. the fists fly in the lone star state between the rangers and the blue jays. the highlights and low lights as the second hour of "squawk box" begins right now. >> welcome back to squa"squawk " we're watching the futures this morning and we're losing some of the gapes that we built up earlier today heading toward the flat line. dow futures in positive territory. up by about 7.5 points. nasdaq holding on by .22. let's check on oil prices. you'll see now that energy prices have been higher throughout the session. up by about 2% this morning. 48.78 for brent. >>> triple header of m&a news pfizer just announced in the last hour a deal to buy anacor. the price $5

ben said this is a warren buffett day. what do you think? >> i think his comments about amazon maybe if i could point to one thing could have put a little life into that stock and that whole category, but on the whole, though, i think what really went on here today, first of the month, you mentioned the first trading day of the month. you got back three quarters of what you lost last week in the 1% decline. to me last week's decline was relatively contained. it was related to stocks. to me the dollar down big again. mine you can't really hide it. that's why you can go up when oil's down 2.5% when you have the dollar making it. >> i was looking at that. let's show it on the screen. the dollar index. i had to -- a couple of months ago it was at 100 very briefly. >> you hear a lot of people saying, well, that going to defend 94. something announcement that. the yen is surging. >> you wonder which is the -- is the dollar wagging the yen's tail? >> i can tell you what's not wagging anything and that's earnings. if you look at earnings, we're abou

you could call it the buffett bounce while the market is riveted by warren buffett's big 1 billion-dollar on apple at this hour, which is trading up nearly 4% right now. we need to tell you, though, that somebody, some entity doubled that dollar amount and then dumped it by selling gold futures and options. now, you can see gold is still higher at the moment. up just a fraction of a percent. but if you take a look at this gold futures, it's just around 10:23 a.m. eastern time when gold, which had been up about $12, suddenly lost megaair, shedding about 1% in less than an hour. so zero hedge, the website is noting that an as of yet unknown entity liquidated $2.3 billion in gold futures at that moment. so why does it matter if it's just gold? well, take a look at oil. oil is still up at this hour but crude was up $37.85 at the high. a new 2016 high. but as you can see, oil did pull back. if you look at the intraday picture, it got its initial air this morning after goldman sachs race its short-term outlook due to its supply interruptions and everything we told you last week to canadian oil

. >> to be behavior like -- >> buffetts. politicians don't have. they buy votes with promises that are going to cause terrible problems later. >> bill, how about you? >> they made like a drunken error. who wants to go through it. >> bill, how about you? what do you think about the pension situation in this country? about municipalities? about states? we worry about the headlines but warren is right. you can't forget about things that aren't immediately facing a dangerous situation. >> for a long time city and state debt in the united states got paid back and between that and the accounting that doesn't really properly show pension and medical liability. people were lulled into a sense of now they're realizing that certainly in special indications like puerto rico is inappropriate -- fortunately they're looking at other cities and states where these promises are pretty dramatic. it is a real problem, and it's exacerbated by the low returns environment with the assumption has been very high. and both warren and i talked about

warren buffett has taken aim at hedge fund managers again.lionaire said that wall street salesmanship has masked or returns for years. managers underperformed. he said, sitting on your rear end in index futures. donald trump repeating his claim that hillary clinton is using the women's card to win the democratic nomination for president. despite the backlash, the republican front-runner told fox news if she were not a woman, she would not even be in the race. speaking at his last white house correspondents dinner, president obama made it clear who he thought was going to replace him. president obama: next year at this time, someone else will be standing in this very spot. it is anyone's guess she will be. [laughter] [applause] global news each day, every day, powered by our 2400 journalists in more than 150 news bureaus around the world. find more of our top stories. top is your destination. guy: thank you very much indeed. oil prices are set to rise within the next few years. spurred by rising demand and a lack of investment. that is ac

warren buffett is always interesting and compelling. that your first, was that your first white house correspondents dinner, sarah? >> no. >> it was my first, and it was also my first-ever trip to washington. so the whole weekend was overawing for me. >> i love what you just said, wilford, coming out of your shell a little bit, if you are looking for a balanced piece that was not it. and i love, sarah's so cute, the president said it's the right thing to do is to stay. i can't imagine the united states, can you, if we were going to cede our authority to unelected democrats in some other country? i can see the pro-advocate stance. i want you, wilford to come out of your shell to get between piers morgan and simon cowell in terms of what you really think. >> i will follow up on the obama thing, he went too far. >> he added about five points to the brexit group, i think. just like, excuse me? we're used to the lectures here, i mean, i'm used to it, but the rest of the world, maybe they are used to it by now. >> or maybe, sdwrjoe, maybe the

this decision was not made by buffett himself but by one of his two deputies. apple shares moved more than 3.5% higher, its best day since march. >>> the berkshire hathaway stake in apple comes as tim cook began a tour of china. that's the second biggest market for the company. cook visited one of apple's main stores in downtown beijing and was accompanied by the president of the china's popular ride-hailing company which apple invested a billion dollars in just last week. apple's business has come under pressure in china recently because of the slowing of the economy and increased competition and a government clampdown on some of it is services, including itunes and ibooks. >>> pfizer is buying anacore pharmaceuticals. this deal comes one month after pfizer scrapped plans to purchase allergan for $160 billion. some day the deal represents a shift in strategy, one that focuses on strengthening its pipeline of drugs ahead of the decision to sell or spin off the generic business. shares soared 57% today. pfizer shares rose fractionally. >>> the dow component and

warren buffett has taken aim at hedge funds. at the annual meeting of his company, the billionaire said that wall street salesmanship had masked returns for years. he said that managers as a group under perform what you could get "sitting on your rear end." global news 24 hours a day powered by 2400 journalists in more than 150 news bureaus around the world. mark: thanks. japan's 20-year bond yield sliding to a record. stocks sinking with the topix tumbling the most in 11 weeks. let's get to tokyo. kevin buckland is there. the yen's latest gains follow the treasury's decision to put japan on a watchlist. does this make things harder for japanese policymakers, kevin? what do we think? kevin: it certainly does. stringst the latest in a of signs from the u.s. side that they are not going to tolerate or at least not going to be happy with or condone any kind of yen in for mention -- intervention. u.s. officials are quite happy to have a little rest bite in dollar strength now. it is good for their recovery. making it very clear agai

buffett himself has side away from making investment in technology companies.otable exception was that very massive bet on ibm stock that was definitely a personal pick from buffett. but even then, he said he's considered more of a services company, and not as much of a pure technology company. now, the question becomes whether the apple stake becomes more of a trade to manage around. or it becomes a core long-term holding. we know ibm hasn't been performing all that well since his investment. and apple stock took a big hit after their earnings report. only time will tell, so to check that out if you want to know more. back to you guys. >> well apple's ceo tim cook will be meeting with the indian prime minister when he equivalents the company later this week. and it follows the trip to china after apple announced a $1.4 billion investment in the company. good morning, welcome. what do you make of apple's interest in dd economics? >> there's a couple things going on there, apple is trying to grow its share in china. investing in a china company helps them build

>> buffett had absolutely nothing to do with it. >> okay. the two guys who did it, forget buffett, you think berkshire's purchase of it forced people to reassess it as a value stock? >> no. >> if the stock reacted positively since then, why not? tell me why it's not the case. >> because why can't i look at what david tepper is doing and carl icahn is doing in exiting the stock? we have three dynamics here. one is getting in, two are getting out. i side with what pete is saying, what jim cramer is saying, own the stock for the longer term fundamentals. in the near term, those who have tried to trade it -- >> why would you look at what icahn's doing? he booked a $2 billion profit. >> so i have looked at icahn on the way in, i'm going to look at him on the way out. i'm not going to ignore thinkang carl icahn is doing in any type of transaction in the capital markets. >> you have to put the profit in perspective when you talk about why -- >> i should have a higher degree of concern and higher degree of focus on what buffett's group is doing? i d

warren buffett. berkshire hathaway holding the annual meeting this week in omaha. class a stock up more than 11% so far this year and that, of course, outperforms the major averages. our becky quick is live in the aforementioned omaha. hi, becky. >> tyler, thank you very much. warren buffett is called the oracle of omaha for a reason, he made a lot of money for a lot of people. he had a gain of 24.8% in shares of berkshire. that may not sound like a lot but it crushed the return on the s&p 500. he built up millionaires over time and a lot of those people have loyalty to him. that doesn't mean every investment he makes is a winner. he is the first to admit he made a lot of mistakes. the winners start out looking like losers, too. the jury is still out on a stake he's been building up over the last 4 1/2 years, ibm. right now it looks like a huge loser. he built up an will 8.5% stake in the company itself and he's done that at the average price of 1 p$170 a share. for now, buffet is standing by ibm. >>

shery: warren buffett getting money back from his investment kraft-heinz.craig giammona covers consumer companies. craig: this goes back to when the private equity firm got together with buffett to take heinz private in 2013. a great investment at a time when he struggled to find places to put his gas. this all goes back to taking heinz private. raft gets with buffett to take over heinz. it is a big deal for the company. they are paying much less on the , they beat estimates in the last two quarters. they face the same problems other food companies face. krafttried to update and are now cheese making organic capri sun. they will make the bottom line look better. can they sell more? hopefully this will free up some cash to allow them to do that. david: there's been huge consolidation. craig: there has. there is more coming. ,he model at 3g has been buy take two years to digest and buy by again -- and then again. when bill ackman took a stake in leaves -- m-- mondo delez, there were discussions. tell us about how the company has evolved since the merger. crai

warren buffett dips a toe into tank. george soros goes for gold.inutes say get ready for a rate hike. >> the keyword is jim. shery: we sorted through the highlights and highlights -- low lights and highlights. oil prices rally but is a slump really behind us? >> i'm shocked this market is

we are talking about warren buffett.llen: he always said he didn't want to invest in ibm, said i do not want to get involved in tech companies. he stayed away. david: the deviled with ibm for a while. ellen: he finally did invest in ibm. mostly he stayed away from tech. this looks like it's an exception. what we say is it is a really. if you look at yahoo! in certain ways, it's really a media company. carol: and he likes media properties. david: and he is the savior of some newspapers not long ago. stan gilbert. a lot of bids for this company. anybody gaming out how likely he is to go get it? ellen: he is against verizon so you don't know. buffett is a next project getting in there and figure out ways where he can profit because of the size of the d can muster. he has a lot of money to put the work. david: cover story this week, so much about the price of pharmaceuticals. you look at charities that help people pay for co-pays and how a lot of pharmaceuticals are working with them. ellen: drug prices having going up for a

warren buffett reportedly looking to add yahoo!. will look at the details next. ♪ here's the plan. you grow up wanting to be a lawyer, because your dad's a lawyer. and you land a job with a 401k and meet your wife. you're surprised how much you both want kids, and equally surprised you can't have them. so together, you adopt a little boy... and then his two brothers... and you up your life insurance because four people depend on you now. then, one weekend, when everyone has a cold and you've spent the whole day watching tv, you realize that you didn't plan for any of this, but you wouldn't have done it any other way. with the right financial partner, progress is possible. this just got interesting. why pause to take a pill? or stop to find a bathroom? cialis for daily use is approved to treat both erectile dysfunction and the urinary symptoms of bph, like needing to go frequently, day or night. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex do not take cialis if you

but how many times in the past has warren buffett held on to a -- warren buffett is famous for bettinghe jockey. he bets the management of the company. >> and that is come up with meg bitman and hewlett packard and has gone from one company into kind of three. yesterday we were saying is that an example of the right way to go about steering the ship as the big stayed company in the space? obviously there is not a right answer at the moment but berkshire is the biggest position in case capital -- >> and it's interesting to -- in the context of this investment and in apple as whitney's discussing there how they make their investment decisions, how independent some of those managers are inside the berkshire hathaway structure. i find that very interesting. >> z like when you are a good coach. you win the games you get the credit. you lose them you take the blame. i might just have to golden state warriors on my mind frankly today. but i can't even watch. check in with whitney more on cnbc.c cnbc.com/pro. >> nothing against the oklahoma city thunder. they are a wonderful team. but what hap

warren buffett dips a toe into tank. george soros goes for gold. the fed minutes say get ready for a rate hike. >> the keyword is jim. shery: we sorted through the highlights and highlights -- low lights and highlights. oil prices rally but is a slump really behind us? >> i'm shocked this market is not substantially higher. shery: how did the big-time investment people feel about the economy? >> simply put, we are in the proceed with caution spectrum. we all have to be worried about it. shery: straight ahead on "bloomberg best." hello, and welcome. ," your "bloomberg best weekly review of the most this news, and interviews from bloomberg television. the topgin with headlines. warren buffett has never shown much of a taste for tech investment but on monday we learned his company has taken a billion-dollar bite of apple. shunnedn buffett has technology companies, staying on the sidelines through two internet booms but berkshire hathaway has discovered a stake for his holding of 9.8 million shares at the end of march. he is also among a group bidding