liz: you have warren buffett calling it rat poison 2.0. have a lot of people concerned about this. what is the number one thing you would like to say to our viewers who still aren't sold on it? >> i wanted to say first that they should read the research paper that the vaneck research team, my boss and i put out to market. we describe there how bitcoin, specifically bitcoin, not other digital assets, can rebuild the payment system. we also discuss how stable coins might be a solution and basically, we can satisfy all the regulatory needs and government needs to rebuild the market. again, bitcoin is not libra. stable coins are not libra. liz: i want to believe you. i want to read your report. vaneck has it. thank you very much. appreciate it. >>> disney regifting a classic. with the closing bell ringing in 17 minutes, disney pulling out all the movie magic stops with its live action version of "the lion king" set to hit u.s. theaters in just 48 hours. but will these box office reboots leave the mouse house reigning supreme or lost in the eve

president trump and warren buffett or people who are supportive of crypto?re actually both right. i mean, the thing about crypto, it's a very complex topic. most people don't understand a lot of it. that said, there are risks with crypto that need to be addressed and should be in the public domain for us to talk about. trump going on and talking about bitcoin actually did, i would say, more for bitcoin than against the dollar. after all, this is one of the first major acknowledgments of this currency and it's going to have real big implications for bitcoin going forward. liz: it's in its incipient stages. president trump will probably start welcoming and thanking people before his speech. is he right? does he put cold water on a nascent new development here? >> i can't believe i actually agree with president trump on this. i agree with him on something. not only do we have these individuals who have qualms about this, this is an idea that's fraught with all sorts of issues. liz: hold on. i have to interrupt you guys. let's listen to the president now speakin

not only did they violate that pledge but they ran to warren buffett.investor carl icahn speaking with erik schatzker. we are joined by our deals reporter who broke the story. to letter from icahn investors, the latest attack on occidental, pretty brutal wording, taking the ceo to the cleaners. >> it is typical icahn. colorful, and at the same point, pretty eviscerating. shery: what was the problem that he saw the issue with this financing? >> primarily, expensive. warren buffett will get 8% on his investment, plus some more roots. -- warrants. that is a bit different from what the debt is paying right now. icahn thinks it was done in a panic, as he said. not the way that you should be leading a company or doing corporate governance. jon: scott, you cover a lot of these situations. in this case, icahn has a stake worth $1.5 billion. it seems like a beef that leading a company or doing corporate governance. shareholders did not have their say. how often do we see these kinds of situations? you have such a transformative deal, you would see it go before a

, closer to where i'm at, lower than the ease in which someone might be able to re-identify a warren buffettsay. i do think that has something to do with it, as well as the age there aren't that many people who have the same birth date as warren buffett that are still living today >> yeah. >> good point. leslie, thank you for that really interesting >>> let's get over to sue herrera now for a news update. sue? >> good morning, deirdre good morning, everyone here's what's happening at this hour president trump is giving immigration officers more authority to deport undocumented immigrants beginning today, fast-track deportation applies to anyone in the country illegally for less than two years this used to only apply to people caught while crossing the border by land >>> iranian foreign minister zarif sending a message to incoming british prime minister boris johnson saying it's important for him to understand that iran does not seek confrontation. zarif spoke during a news conference with nicaragua's foreign minister north korean leader kim jong-un inspected a newly built submarine, as he or

warren buffett will donate $3.6 billion in shares.nd joining bloomberg investment banking reporter. we kind of felt it was coming. >> 20,000 is a lot. it will not be right away. it will be over time. 20,000 is a big deal. and beyond that, when you cut jobs, you save cost. do you affect the topline? the tricky part, how do you cut costs without affecting the topline? >> and remember when you're cutting jobs, it is costly. and so bank of america is seeing that. david: particularly in germany. alix: germany needs to raise 5 billion euros. >> it is something the ceo does not want to do. upwill see how they end maneuvering without raising any money in the meantime. ,avid: i think the positives there will be major structural changes. deutsche bank was dragged kicking and screaming to restructuring. sonali: it has been a year since he was in charged and -- since he has been in charge and people have wanted to see decisive action. alix: i wonder how many jobs will be in germany. david: good call. considering eliminating it across the board. a

. >> warren buffett, can you describe your relationship with him? is a little bit older with you, and then you develop this close reputation with him. then he gave you a large part of his fortune. were you just brought it -- surprised that he did that? >> he is an amazing person. hims lucky enough to meet in 1991. i do not think i wanted to meet him. i did not think of buying and selling the stocks as a value- added. i am were involved in the innovation. when i met warren, the fact that he had this model of how the world work. he just asked me, why can't i input you out of business. it was a very smart question. because of the time was 10,000 times our size. yet, we would go on the software to surpass ibm. it was the dominant computer company. >> when you develop the software, they should have it from you. >> that would have helped them. they will not have really change things. what has happened in computing work are really thinking about the microprocessor. very different ways they did with the mainframe. it is kind of innovative. looking at comput

investment guru warren buffett says he's donated $3.6 billion worth of stock in his company berkshirea gates foundation and four other charities. the 88—year—old billionaire intends to donate all his berkshire shares to charity through annual gifts. the ‘giving pledge' in which billionaires promise to give at least half their wealth to philanthropic causes — was launched in 2010. china's huawei says it is awaiting guidance from the us department of commerce on whether it can resume using google's android mobile operating system on upcoming smartphones. over the weekend, us president donald trump softened his stance on the chinese tech giant, and told g20 summit attendees that the united states will allow expanded sales of us technology supplies to huawei. ever since his first independence day speech in 2014, prime minister narendra modi has championed his "digital india" vision — including a flagship policy to get every village in the country online. but that project has fallen well behind schedule, and costs are mounting up. the hundreds of millions of indians who are yet to have acc

not only did they violate that pledge but they ran to warren buffett to borrow money so that they couldissue 19%. i could interrupt, this is what i'm driving at. are you most upset about the lack of a shareholder vote, or more upset perhaps about the terms in which the financing is being given by warren buffett. or are you objecting to the price of anadarko? shat is it that most upset you? carl: all three. i object to the fact that this , andaction is a huge price that it could be an existential threat, if handled wrongly. may feelany has shown they are not accountable to anyone. this has been the fact for quite a while. they have a board that seem to what he does, and this is a perfect example of it. sets thehis almost stage for a watershed event as far as corporate governance goes. if you let corporate governance become a travesty more and more in this country, which i think , ihas become to some extent think it's very dangerous for the future of the country. carl, theou know, occidental side of the equation would say we had to go to mr. buffett or somewhere else to get that $10 billi

that there is at least one investor willing to do similar financing without the warrants that warren buffett will get in the financing arrangement. pretty decent -- he's picking up on. he alleges that the company itself could have been potentially taken over. do we have any idea who that takeover candidate could have been, the acquirer? scott: we don't know for certain, but obviously it would have to be someone of sca le. someone that comes to mind is exxon. the size itself, someone interested with permian. vonnie: what are shareholders saying? do they think, some of the major ones, that icahn has some points here? the stock is down about 1/3 of 1%. scott: some think this transaction should have gone to a shareholder vote. obviously it is not going to. it is quite a large, substantial transaction for the company. vonnie: we are going to have to wait and see what happens next. are we at an impasse here? scott: this could drag out for a while, i think. vonnie: our thanks to you, bloomberg deals reporter scott deveau. guy: the fed is going quiet between now and months end. president trump keepi

and this fellow won that lunch with billionaire warren buffett and then canceled. justin sun posted this video to the internet that he was ill and rescheduled the lunch that he won by being the highest bidder and behind there you can see justin appears to be in san francisco. this is where the story stopped. no big deal, the guy wasn't feeling well, too mad. face detn back to china linked to his business in crypto currency. a different outlet says he's in china that he never got to leave. this is all very mysterious. the causes behind it, even where he is, i, obviously, reached out to mr. sun starting out with, where are you? it looks like he's in san francisco, according to the video he posted. >> because you can see the skyline in the background. >> yeah. >> okay. all right. we'll continue to follow that. >>> in the meantime, a 3-year-old boy is in the hospital he got on to the baggage conveyer belt at the atlanta airport. this is security video footage of that incident. actually happened on monday. he actually made it all the way into the bag room before a tsa a

investment guru warren buffett says he's donated $3.6 billion worth of stock in his company berkshireinda gates foundation and four other charities. the 88—year—old billionaire intends to donate all his berkshire shares to charity through annual gifts. hong kong riot police have regained control of the city's legislative council building. it comes as protests have intensified over an extradition bill — amid fears by demonstrators that the asian financial hub is being drawn closer in to china. our asia business correspondent karishma vaswani joins us now from hong kong... the worry is the worsening political crisis will have a knock—on impact on hong kong as the way it is seen asa on hong kong as the way it is seen as a global business hub? yes, certainly that was the fear of the business community in advance of that extradition bill when the government announced they were going to push through with it. you heard from lobby groups amongst big businesses here saying it would risk the credibility of hong kong. when the credibility of hong kong. when the bill was suspended there was a sig

two american billionaires are making donations paid warren buffett is donating $3.6 billion of berkshireway stock to five charitable organizations persons 2006, he has given away 35% of his holdings. the recipient was not disclosed, but the waltons have disclosed to the walton family foundation. global news 24 hours a day, on air and tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am kailey leinz. this is bloomberg. fresh record lows on the german ten-year in terms of the yield. we are nearly -36 at the moment. decent chunky selloff within the last hour. let's bring back in erik nielsen. what do you think draghi will the germanon ten-year? erik: he should be worried about pension funds and insurance companies which are basically forced to buy a lot of the stocks, which makes pension funds de facto insolvent, in effect or number two, i would hope he would court early in and say you have to be at this level and you are way behind the rest of europe in the public sector. many other interest pressure's -- many other infrastructures are behi

there was a lot of fanfare because we had warren buffett and j.p.gan going into the managed care space. health insurers come in. a lot of and fair. since then, not much. what has happened? michael: you never know what is happening behind the scenes, but if you look at their total employee population, there is not enough to build around. they also need a lot of systems capabilities. you put in the systems of medical management. i still appreciate what they did. they are what i call constructive disruptive's. disruptive you have dealt with recently -- you had activists in your stock one in you to sell the company to humana, not wanting to do the wellcare deal. i am not going to give you credit for saying them off necessarily, but getting rid of mr. loeb and keith meister -- a lot of ceo's would love to do it. what is the trick? michael -- the trick? michael: we looked at all the alternatives before we did the wellcare deal. we did complete staff work in the british military part of it here would we look at all of that. 1250% increase in price of the s

think people are saying this is the old coca-cola where you just have to say, you know what, warren buffettght. >> the old coca-cola from the 90s. >> from the 90s. >> at what point do you go back to >> go back ten years >> i like everything i hear. and i get the new products and they have a new energy drink. i got to tell you, if i took the -- tuesday, take the night off. why sleep tuesday? >> we won't allow any -- >> the whole idea of sleeping tuesday night, what exactly was that illness that affected me so i didn't have to sleep maybe take that off line i think the energy drink -- >> didn't youle le ityou tell r user that you woke up because of the bad guys. >> i got up at 3:20. the bad guys get up, look at pharma i'm all over them. they lack the coca-cola energy drink. >> utx, david, a beat. revenue up 17. they raise their guide on revenue and profit a lot of this is rockwell, of course revenue up 45 versus a prior 3 to 5. >> yeah. and it is a good number for a company that i think probably needed to put up a good number but that is not going to necessarily stop the yakking from large sh

. >> you started the giving pledge with melinda and warren buffett. right now, if you were to convey one message to people about philanthropy, what would you ask the average person to do? >> the best thing is to pick a couple of causes that you believe in deeply and find organizations that you can get involved in. the social services in local communities. charter schools in local communities. a host of high impact things. the dollars you give to global needs actually will have substantially more impact per dollar because you can save a life for $1000. if you just fund measles vaccination or polio eradication, those things are pretty mind blowing in terms of the difference they can make. philanthropy is not based on comparing every cause and picking the most impactful. it has to be something that connects with you personally. even the climate area, whether it's advocacy or high risk investing, there is lots that people can do. that will increase the chances of success. >> i want to thank you for taking time. we have two gifts. one is this. we know you

something i am sure that warren buffett is very pleased about, first investing in 1988, $1 billion intoompany, now worth $22 billion. he famously said he has about five cooks a day. -- cokes a day. so he is doing his part. bed,: breaking news from bath and beyond. they are eliminating their coo r ole and cutting corporate jobs. 2019just reiterated their guidance at the lower end of the range, and we are now getting the latest news that the company roleiminating their coo and cutting 7% of corporate jobs. you can see the stock is falling by 9/10 of 1%. other big news today has been the u.k. having a new prime minister. boris johnson, the public face of the brexit campaign and the former mayor of london won the race to succeed theresa may as the leader of the conservative party. this after six weeks, johnson defeating jeremy hunt by a landslide. guy johnson joins us from westminster with the story. not really a surprise, but it could spell a new phase in the civil where -- war within the government, especially with the brexit deadline coming. johnson has a set a deadline for october 31, s

. >> warren buffett -- can you describe your relationship with him? he's a little bit older than you and you have developed this close relationship and ultimately he gave you a large part of his fortune. how did that come about and were you surprised he did that? >> yeah. he is 25 years older than i am. he's an absolutely amazing person. i was lucky enough to meet him in 1991. >> reluctantly. >> i didn't think i wanted to meet him because i don't think of the buying and selling of fox as a value-added part of society. >> hyman private equity. [laughter] involved in the innovation part. but when i met him the fact that he had this idea of how the world works -- why can't i put you out of business? it's a very smart business. at the time ibm was 10,000 times our size. we would go on in terms of software innovation and value as whompany to surpass ibm, was the dominant computer company when i was growing up. their mistake was when you developed a software they should have bought it from you as opposed to license it. >> that would have helped them. [laugh

>> warren buffett agrees. u.s. bancorp? liz: 2 point what%? >> 2.6%. liz: 2.6%.ore than a 10-year yield. >> they're pushing 3.1% net interest margin in this environment, when everyone else is doing 2.7. citi is 2.4. they are executing on all levels increasing commercial loan growth. u.s. bank corporation. a u.s. bank. they're regional. if you play the region, these are the guys. liz: will you be doing on wednesday 2:00 p.m. reason when the federal reserve announces? >> reading the statement. liz: because it is what is in the statement that will matter? >> it is how the statement evolves over time also what matters of course is . connell: i'm connell mcshane. this is "after the bell." the dow ending up about 26, 27 points. certainly off session highs. we were up 83. at the highs of the session. we're looking at s&p 500 as we get closer to the finish today. see if we get a record. not to be, down by five points. nasdaq also lower, down by 37

why one firm says now's the time to buy a handful of the big financials even warren buffett is upping his stakes >>> we're looking ahead to the biggest weeks of earnings, the desk is hitting apple, under armour, verizon. starbucks surging more than 5% on its results a month after similar gains the trend continues with the stock gaining another 4.8% for more go to cnbc.com/kensho the halftime report is back in 2 minutes. [ dogs barking ] what about him? let's do it. [ sniffing ] come on. this summer, add a new member to the family. hurry into the mercedes-benz summer event today for exceptional offers. lease the glc 300 suv for just $419 a month at the mercedes-benz summer event. going on now. i am bsuperhuman. things that money cannot buy. oh, like your soul back. your brother took my soul. the boys in the lab made me a new one. i'm black superman. black superman is good. very good. there's two of us and one of him. time to work as a team. [ screaming ] i'm sue herera here's your cnbc news update. the fda has improved a new warning about an increased risk of blood clots and death with

if you have been studying this thing for 50 or in warren buffett's case, 75 years, that sort of patterny not sustainable. for me i can't see from an economist point of view how he puts in a rate cut in july. having said that, you know, obviously i have a lot of money in the stock market, 12 billion under management at sky bridge, if he cuts rates, it is going to be very very good for the stock market, but i'm worried that it may be too early to start that process given the strength of the economy. remember, he only has 250 basis points and you need about 400 basis points of stimulus, charles, to smooth out the sharp edges of a recession. charles: without getting too -- [inaudible] -- for our sunday audience, the fed has a bad habit of being behind the curve. jerome powell is not an economist. he understands main street a little bit more. maybe he hiked rates too much last year. all eyes b will on that -- all eyes will be on that. in the meantime, you brought up china a moment ago. what are your thoughts on the restarting of negotiations, where do we go from here? >> well, listen, i thin

. >>> and warren buffett is donating $3.6 billion of berkshire hathaway shot to five charities.t will boost the total amount he has given to charities to more than $34 billion. >>> you're up to date. that's the news update this hour morgan, become downtown to you >> sue herrera thank you. >>> up next, what to expect from ipos in the second half of the year will the rush to the public market continue? meantime, we are all over this morning's rally. how to position your portfolio for the second hf tea icbrk.alafr tle music) - my degree from snhu has helped me tremendously. the flexible class schedules allow me to go to work full-time, run my catering business and be a mom and parent. when i reached this accomplishment, it was like, it's here, it's happening, it's now. we, at southern new hampshire university, are the ones who succeed. we are the ones who break through. >>> welcome back the recent uptick in ipos becoming a savior to hedge funds looking for a bounce back this year leslie picker is joins us for that story hey, leslie. >> hey, morgan overall ipos are providing one of

and the cost of doing business with warren buffett.oundup, another round of lawsuits over monsanto weedkiller roundup. we speak to lisa safarian, bayer's head of crop science in north america on new technology for farmers. ♪ alix: i'm alix steel, and welcome to "bloomberg: commodities edge." it'3

. >> even for warren buffett, somewhat thin. >> exactly reversal, a rare one that does it for us here on the "closing bell" "fast money" will get started. >> right now ♪ >>> "fast money" starts right now. live from the nasdaq market site overlooking new york city's time square i'm million traders on the desk are mark tepper, karen finerman and mark grasso we have full team coverage on netflix, less than an hour to go until its call gene munser is getting ready to fire up the red phone in minneapolis. mark is here to break down the after hours moves on the charts. we start with the big move the stocks at after hours session lows, plunging double digits after adding 2.7 million subscribers, lowest amount in three years. are the best days behind this stock? steve grasso >> i don't think so. bespoke, paul hickey was on. he said a great thing about seasonality, the second quarter is a bit tough it gets better going into year-end i think if you are a netflix bull, this really hits you in the gut, but longer term i think you can stay long. >> that's looking at the glass half full, isn't it?

oh, yeah, and warren buffett is supposed to be showing up, maybe, too.e of high profile arrivals just moments away. who better to send into the fray armed with his ego -- i mean, microphone, than charlie gasparino. >> by the way, i haven't been thrown out yet. i just want to make that clear. that's a fox news alert. liz: there's still time. >> there's still time. this is an interesting crowd. you named some of the names. [ inaudible ] liz: are you being kicked out? >> can we walk backwards? stay with us. liz: i'm right here. >> you met the head of security here. you met the head of security here. nice guy. i had my problems with him in the past but we're all made up and everything is good, including the fact that you're going to get a lot of deals coming out of here. two major deals. cbs/viacom, shari redstone is here. bob bakish, joe ianiello and also sprint/t-mobile. that deal is being hammered out in d.c. we hear no decision made yet on that. however, the head of softbank is here. from what i understand, he's coming here. i think you are going to have

. >> he gets -- warren buffett can say my secretary is taxed at a higher rate than steven schwartzman. >> we'd probably all agree if any of this plan were to be signed in law it would be that part rectifying this carried interest loophole, if you will. there's been bipartisan support for this in the 2016 campaign. and all republican candidates supported rectifying this carried interest loophole. if any of this part of the plan is signed into law, it would likely be that >> you don't have to cook the whole pie. just a slice libby, stefnie, john, good discussion on a bill proposal just coming out today. >>> we're getting started on "the exchange. >> coming up -- it turns out content is king. and netflix is learning that the hard way what's next for the company, and was this just a second quarter fluke? >>> toys "r" us is back. well, sort of. >>> and companies are starting to realize that the world is running out of magic countries to manufacture their products. what they are doing to compensate, and how much will it cost them? this is "the exchange" on cnbc how do you gauge the greatnes

liz: to quote warren buffett, israel is a miracle. >> it is. liz: good to see you.ht an israeli company. he likes israel. thank you so much. >> thank you. liz: the business world stars shining in sun valley. with the closing bell ringing in 18 minutes, the dow holding on to gains of 71 points. barry diller, yes, james murdoch, brian roberts, shari redstone, all arriving at the annual conference. charlie gasparino, well, wait until we show you in case you missed it, what happened yesterday. didn't take long for him to get kicked out. guess what? he's back and he's about to break it live from sun valley. >>> and it's a fresh new episode for my podcast everyone talks to liz. i'm taking you behind the scenes with imax's ceo, rich gelfond. what a humble upbringing. in fact, his first job, 8 years old, shining shoes. how he went from that and mowing lawns to getting the hottest movies on the world's largest screens. you don't want to miss his unbelievably inspiring story. tune in, apple, google podcasts has it. download it. fox news podcasts.com. rate and subscribe. oh, b

for example, we remember when jamie dimon, he and warren buffett, we haven't heard much, about a yearu know what, health care is too expensive, it's clunky, maybe we fix it. form a collaboration. i haven't heard much since then. charles: that's why he's a legend. deirdre: that's why the company is worth a trillion dollars. charles: the market moved during my hour. the c.p. effect came back. liz claman, i know you like that. it always moves even more recently in your hour. can't wait to see what you got going. liz: we'll see if liz claman can come through for you. thank you. as we head into the final hour, i know charles noticed this, we are starting to see some sellers sniffing around. that's putting records in jeopardy, not by too much, but perhaps more importantly, we've got twin gulf crises gaining strength at this hour. number one, tropical storm barry bearing down on the gulf of mexico, now forcing major oil and gas platforms to evacuate very quickly. this as more iranian agitation in the persian gulf could spell volatility for oil markets. we've got up to

it with the buffer rule and we should have $124 billion so we can make the change, so that in warren buffett's words, that his secretary should not pay more in taxes than he does. i made the case in the debate that you can double pell grant's from $6,000 to $12,000 and have them extend to families that make $100,000 and less. that's a lot of people that will get help that they are not getting now. i am concerned about proposals, where you are giving free college to wealthy kids. i don't think that's how we should be spending taxpayer money. when you've got kids that want to get community college degrees, one-year certifications, that is the fastest-growing job area right now, those kinds of degrees. that's why i am focused on those. right now, some of these proposals, i think the number is 10% of the kids in the public colleges, are from families that make $200,000 or more. i don't get why you would be giving free college to them. hopefully, we can have that debate a little more fleshed out then we were able to do -- than we were able to do in that first debate. a lot of us have bold plans tha

money on it and so could afford to bid to have lunch with this man the american business magnate warren buffettace, mr sun pulled out. he eventually posted on his weibo account this open letter to his followers apologising for "excessive self promotion" and claimed that his actions had "triggered concerns from regulatory authorities." kerry allen follows the chinese media for bbc monitoring. shejoins us live she joins us live to talk us through this, what's going on and found suspicious? guys, we have been following this for two days now and it's been very unusual because two days before he was said to hide the meal that was to take place today, he excitedly said he got kidney stones, i don't know, i guess he could but it just stones, i don't know, i guess he could but itjust it's all he said he was and expect —— accepting interviews and then a day later he's posting on twitter that he was in san francisco, and he seemed relatively ok but he said he was recovering and he posted a video selling bay bridge behind them, and yeahit selling bay bridge behind them, and yeah it was saying that he was

look on this network in may, warren buffett said if rates were to stay at this level, stocks are very cheap you know what? rates are lower today. so i think all of this argues, despite the market is a little overbought is that the rates are going to support equity prices here if the fed were not to cut, that would be a bad sign. >> the real issue is not the valuations in equities or, i would think, you guys tell me, it's the valuations in fixed incomes right now. when you have everybody basically being pulled down by a german tenure that's this deeply negative because of what the european central bank may or may not do, doesn't that making pricing of even private debt in this country out of whack? >> it's very odd that here we are at all-time highs in the equity markets and you look at the bond market and you'd think, you know, you'd think that things were terrible here. >> right exactly. >> so it's somewhat confusing. and how many times have we been at market highs when the sentiment is so bad? people are taking money out of stocks there's very little investor enthusiasm out there >>

that's what warren buffett said was probably the best idea so you don't distort the market and disincentivizeing, the people that need money get some money back from the government. >> i think that's exactly right. it should be state by state. by the way, there's some really awful aspects of this bill that's going to be passed in the house, such as removing the exemption from teens. it's really important for teenagers to be able to work at whatever level of pay they can earn just to get a foot, just to get experience. if you make it 15 bucks an hour for a kid that really doesn't contribute much, you're not going to hire many teenagers like what's happened in france, you will see youth unemployment go through the roof. >>> let's get to breaking news, because the house just voting to table an impeachment resolution against president trump, effectively killing that measure at least for now. this was the texas democratic congressman al green's resolution, who forced consideration of this measure, and this of course caps off days of tension and division in washington, d.c. >>> coming up, are you a

nasty bear of 2011 we snapped back from those losses even more rapidly by the way this is wie warren buffetts so sanguine when the market is getting crushed. he has an incredibly long time horizon and enough money that he can afford to take any pain to get his hands on gains if you're a hedge fund manager who absolutely needs to be up for the year or for the day for all that matter because investors will flee your business, then you cannot afford -- if a hedge fund manager keeps buying gradually into weakness in a difficult environment you'll lose enough money in a short enough period of time that the fund will likely go under. go read "confessions of a street addict" when things got tough for me the vast majority of you are not running hedge funds. you don't need to make money every day or even every month or year you need a long-term strategy to let you rake in massive multiyear gains over the rest of your lifetime so you have enough money to retire comfortably, send your kids to college and that means you don't need to be so concerned with short-term performance. again this is not an excu

pete's right the opportunity was when based on fundamentals it was cheap >> warren buffett -- >> i'mxplaining to you right now is, let's acknowledge the elephant in the room you've got driving the tape on a daily basis and they are coming in and they are buying facebook right now because of price that's it. just an explanation. >> great thank you. thanks for that. >> okay. let's do call of the day now square upgraded and stocks up more than 6% josh brown >> i like this i don't know why i don't own it yet. i should probably have bought it >> nobody owns square? >> i'm not in it >> what is up with that? >> paypal, everybody, paypal >> i would trade this. yeah, jon's been in it i would trade this i don't know that it's an investment if you already own, as i do, mastercard and you have exposure i feel like i have a lot of payment exposure to twitter. but this is a good stock that got beat up. >> not the most aggressive upgrade you've ever seen either. when you look through this note, not like it's banging the table saying you have to own this. they talk about risk/reward and where the st

plan,ke four-your pension something warren buffett talks about. longer-term investing, you want to be in equities definitively. right now, we are with you. we've come a long way. correction, 6%, 7% about a month ago and there is ground for disappointment. maybe a 25 basis easing for the fed would be disappointing. for the bond market and equities. have sympathy for being cautious right now but that is different from your important pension for being inequities. nejra: i know you keep wanting me to look at my pension. that is a discussion for another day. this look at the headline level for equities. would you be looking at value versus growth, bond proxies, what would you be looking at below the headline level of buying or selling index? tough question because basically, growth and quality has outperformed virtually and continues to outperform. we've benefited from that. we've had a tilt. we are looking to buy more value names. we are a customer of the investment management industry but by some direct stocks ourselves. we are tilting more towards v

billionaire investor warren buffett also said remember back in may, he said well you know, i cautiont the job of the markets is to match people who need money and who have money; however i want to say that private equity as an industry is a big part of the infrastructure that we have in this country they made something like $3 trillion worth of investments in the past 10 years , so i think it's hard with a broad brush, right? some view very responsible investing that sort of rising tide lifts all boats and some -- ashley: a not so good example. deirdre, thank you. let's take a look at the big board if we can we've been stuck in the same range ever since we opened a couple hours ago, the dow up 62 points we did get up above 100 points at one point but a quarter of a percent gain for the dow and that's where we stayed this morning. check the beyond meat stock if we can. we know that it's teaming up with blue apron, the meal kit guys, and we've got an early day that's up 2% today and it's up another $4 at 174.95 and we've got an early beyond meat investor with us now, come in, greg smit

. >> even for warren buffett, somewhat thin. >> exactly reversal, a rare one that does it for us hereing bell" "fast money" will get started. >> right now ♪ >>> "fast money" starts right now. live from the nasdaq market site overlooking new york city's time square i'm million traders on the desk are mark tepper, karen finerman and mark grasso we have full team coverage on netflix, less than an hour to go until its call gene munser is getting ready to fire up the red phone in minneapolis. mark is here to break down the after hours moves on the charts. we start with the big move the stocks at after hours session lows, plunging double digits after adding 2.7 million subscribers, lowest amount in three years. are the best

neil: even more liberal ones are saying, i trust bill and melinda gates, warren buffett to handle thisvernment. >> they do. look what the government does with our money already, squanders it. never gets where it is supposed to be. these incredibly rich people create their own foundations. to your point, the bill and melinda gates foundation, given away $45 billion, generally to those groups work tock combat global poverty, save lives. god bless them. mark zuckerberg has given 100 million to schools. here is the problem. you sometimes donate to groups that want to do good, doesn't always work. the impact of that money, okay, not what he was hoping for. certainly compared to what the government does with the money, great abyss, money goes in, disappears, you ask the whatthe heck do they do with it. neil: the question i had for bernie marcus at the time. they want to tax us more. >> write a check to the treasury. that is a great idea. fine to say that. but in reality, it sounds good. you get so much at some point you almost feel guilty about it. come on, tax me more. i would much rather m

. >> around that same time, warren buffett reached out to me and said we are mortgaging the farm.ting it. neil: i remember one conversation i had with him which we will explore in a lot more detail at 4:00 p.m. on "your world" on fox news. he famously looked and said you got to remember when a country like china invests in you it's just a matter of time before they own you. part of his legacy was worrying about debt. back then it seemed paltry compared to now. more after this. [ sigh ] not gonna happen. that's it. i'm calling kohler about their walk-in bath. my name is ken. how may i help you? hi, i'm calling about kohler's walk-in bath. excellent! happy to help. huh? hold one moment please... [ finger snaps ] hmm. it's soft... the kohler walk-in bath features an extra-wide opening and a low step-in at three inches, which is 25 to 60% lower than some leading competitors. the bath fills and drains quickly, and the door ensures a watertight seal, so you never have to worry about leaks. kohler's walk-in bath was designed with convenient handrails for added stability and safety. the w

amazon, even though we heard jeff bezos, jamie dimon and warren buffett talk about a potential healthe haven't heard too much since that initial announce president, who knows, maybe there are blueprints. connell: i wonder what your view, do you think we can quote unquote, retrain our way out of this issue? i read the book on artificial intelligence. they don't think we can. there will be too many jobs. >> i speak to small business people, what they tell me, it's not just a question of aptitude. it's also a question of attitude. a lot of these people just dwoont don't want to learn new skills. we have to somehow have this change in attitude take place, this embrace of new technologies, of changes, so that they can remain gainfully employed. connell: quick thought on that. that is an interesting point. >> yeah. yeah. i would agree that artificial intelligence specifically, a lot of people, feel like myself as an attorney, will say that's going to automate us out of business. you have to also say what about the analysis. you can't just go to automation and say they will be good at someon

. >> warren buffett, i think, still plays a role in getting the ceo. ot believe they can't find a ceo. i mean, it's -- what is everybody afraid of elizabeth warren why can't they find a ceo? executive search, get someone. can you get it >> i don't think so. >> let's put some names out there. >> they'll find somebody, i'm confident. or mr. barker will continue in that role. >> i don't know. who else mcinerney is retired who else >> guys, worth mentioning as we talked about in the mad dash, but the big pharma companies are down fairly substantially. merck, pfizer, lily. >> j&j >> all down rather sharply >> they're all buys. >> originally an axios story -- >> oh, give me a break. >> the administration is giving up this original plan it had to go after the pbms in terms of trying to attack drug prices >> every one of those quarters is going to be fabulous. the people selling the stocks are fools. they're the people who sold pepsi. >> other pbm related companies are up cvs has a lot more than a pharmacy benefits manager, of course it's got an insurer in ther

tell you about that lunch with warren buffett and discussioning cryptocurrency sun bid for charity options ill and needed to postpone since he called bitcoin rat poison squared saying he would close the gap in the realm of cryptocurrency he and sun have agreed to reschedule later we'll bring you that date when we learn about it. in the meantime, we hope he gets better soon. when we come back, an earnings deep dive on two most significant reports. we'll tell what you they could mean for your portfolio when we return here on "squawk box." back in a moment or built to last? etfs are only part of a portfolio. so make it easy to explain. give me a quality fund that helps me get clients closer to their goals. flexshares etfs are designed and managed around investor objectives. so you can advise with confidence. before investing, consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com for a prospectus containing this information. read it carefully. ...or trips to mars. $4.95. delivery drones or the latest phones. $4.95. no matter what you trade, at fidelity it

it's almost like, you know how occidental did that stupid deal where they took 8% money from warren buffett fact that pfizer even thinks that mylan's going to exist is a really big deal. and mylan, did they get a good deal i don't know they doubled down on the worst part, but i've got to hand it to heather presh. she now has pfizer heather bresch, ceo of mylan, was watching her stock go down, and it was selling the pe is like lowest and people don't like generics. suddenly, she does this deal and people say, you know what, pfizer doesn't think they're idiots pfizer's willing to partner with heather bresch. >> so, mylan comes out, gets more bang for their buck on this one? >> yeah, and they got the up -- look, they're -- the margins are not great, one, generics but i think that heather bresch is able to say, you know what, you think i'm awful? pfizer partnered with us so cover your short. >> that's true you've got that. >> got to hand it to her. >> and sanofi beating and raising their guide, one of a string of raises. >> i think lilly's going to do that i think merck's going to do that i thi

warren buffett has bought the stock.rs on smartphones and it's really about subscriptions and really a more boring, more stable type model. i think it's kind of a sign of the times. david: on the other hand, we had keith fitz-gerald on yesterday who said within 24 months this stock will double in price. what do you think of that? >> that's a bold statement. it does trade to a discount to the market which probably is good value here, but again, it's not a growth stock anymore. it's a value stock. david: the story of the day is nike. pulling this betsy ross shoe that they had with the american flag on the back with the 13 stars, saying that it speaks badly in the eyes of many people, to the slavery days. what do you think? will it affect the stock at all? >> no, i think nike is probably one of the best marketers in the world. so if nike is going to pull that from their shelves, they know who their audience is and they know what resonates. nike will always make the right move when it comes to marketing. david: their audienc

deal to happen, so people are looking not only to try to grab a glimpse of sherry redstone but warren buffettox business as well tim canoga jack dorsey name it not at social media summit tomorrow because they are all here, in idaho. this theme part of the conversation is about tech and media coming together how tech companies are sitting on a lot of cash potentially looking to acquire, and scoop up some of these media assets speaking of i want to give streaming news netflix has announced that friends will leave it streaming service having a seat on warner media new service launching next spring, an idea how things are moving along, within this space maria. >> all right jackie great we will be watching your reporting all day thanks so much jackie deangelis idaho. >> markets waiting on fed chairman jane to released prepared testimony 11 minutes before testimony before house financial services committee we will bring comments as soon as these embargo is lifted 10 minutes. >> women in workforce speaking to a ceo worked with big names google general mills she will join us on set, stay with us. ♪ ♪

chinese millionaire and crypto currency investor justin son has canceled lunch with warren buffett. why? >> he paid a record $4.6 million for the honor and basically eat lunch in new york but then justin paid another $100,000 to make that lunch moved to san francisco. it was supposed to take place today. that has been canceled because he was sick. social media and chinese media outlets are accusing him of canceling because he has been engaging in illegal activities within china and this comes from illegal fundraising and that is circulating the internet and he says that's not true, he's just sick and going to take a rain check on this. stuart: he is out of favor with beijing. >> this is social media. he himself has denied it. a company that uses crypto currency, he is a millionaire, he is in his late 20s by the way and the company he owns is the 11th largest crypto currency trader i market value. it dropped to 16% on tuesday because of those concerns. stuart: those concerns. okay. up next, we're going to speak to andy now who was finally attacked by antifa rugs at a rally, he once a