. >> announcer: got a question for warren buffet? now is your chance to ask. em to us with the hashtag ask warren and the legendary investor will answer them on monday starting at 6:00 a.m. eastern warren buffet live right here on "squawk box. they're changing by the nanosecond. that's why cognizant created a unique engineering approach to design and build new digital products. learn how cognizant softvision designs experiences and engineers outcomes. ♪ cool. ♪ and when you open a new brokerage account, your cash is automatically invested at a great rate. that's why fidelity leads the industry in value while our competition continues to talk. ♪ talk, talk while our competition continues to talk. which of your devices are protected by daily security updates? daily security updates... daily? i don't know. the only thing... i'm struggling with this. some providers you have to manually download updates to each device. comcast business securityedge updates every 10 minutes to help keep your connected devices protected against new ransomware, malware and phishing thr

you can watch or listen to us live on the go on the cnbc app we'll be right back with warren buffet innt. when we started our business we were paying an arm and a leg for postage. i remember setting up shipstation. one or two clicks and everything was up and running. i was printing out labels and saving money. shipstation saves us so much time. it makes it really easy and seamless. pick an order, print everything you need, slap the label onto the box, and it's ready to go. our costs for shipping were cut in half. just like that. shipstation. the #1 choice of online sellers. go to shipstation.com/tv and get 2 months free. >> the moves you need to make with your money. >> we're tracking stocks on the move the sector being hit the most and market reaction. >> perspective on the global economic impact. and straight ahead as the second hour of squawk box begins right now. >>> good morning becky quick is in omaha this morning with investor and berkshire hathaway ceo it couldn't be a more important day to hear from them. dow off 702 points right now and we'll talk about those in just a minute

i think warren buffet will say good thing about it. i think you're fine with it.s and the banks can rally here but as they rally, cut them back i think you have to do that. they're just not as good as other stocks, what can i say the payment processer stocks, they are red hot, and bob eink says it could get hotter negs ti next time there's a pull back, i think you should buy much more "mad money," who says this isn't the most interactive show in television the ceo joins me tonight, is it too late to get in and out and in with this market, i'm going to give you my take, a real lesson about what you can and can't do, and rapid fire, tonight's edition of the lightning round, so stay with cramer (janine) i used to be a little cranky. dealing with our finances really haunted me. thankfully, i got quickbooks, and a live bookkeeper's helping customize it for our business. (live bookkeeper) you're all set up! (janine) great! (vo) get set up right with a live bookkeeper with intuit quickbooks. i am totally blind. and non-24 can throw my days and nights out of sync, keeping

i see the warren buffets, the elon musks of the world. they wouldn't sit down to this. it's absurd like the guy said. >> but it speaks to the pressure. >> it does. >> you have so many people applying for that job and they feel like youth will get ahead. >> whatever it takes. >> veronica, thank you. >>> in the weather department, the numbers we're looking at are going up the near 80-degree range tomorrow, and that's record territory. we'll be if the low 80s in parts of the north bay. highs from step in that direction. santa rosa was up to 75. it's winter and it was 75. concord 74, san jose 67, and fremont at 67. right now numbers on the mild side, mostly in the 50s. man it has been dry. even the desert got more rain than we did. high pressure is building in, and we'll get offshore winds. in fact if you look at the futurecast, there's an offshore component. that's why the north bay heats up again tomorrow into the low 80s. so we get clear skies overnight. then for tomorrow, unusually warm. by this weekend, might be a sprinkle or two by sunday. we've said that week after w

of providing electricity and went to gavin newsome who did he appeal to you to come rescue them warren buffet or write the same situation so let's turn back to our band fracking and the millennium on generations the voters what they want do they understand what it was and are they going to get it forget who it was said that democracy can only function if you have an informed populace this is one area where education needs to happen in terms of the energy infrastructure and policy not only among civilians but also the politicians congress and senate and we really need to go back to area an era of rationality sit down and think of practical solutions to these things because they exist but in the practical solutions well as we talked before i think the gas is the bridge fuel but obviously we need some type of further investment in renewables right you could we could have done a moonshiner renewables 10 years ago who knows where we would would we be no but you see what like musk is done with tesla there are solutions out there a lot of times they're not obvious because we just talked about the el

you're just selectively selectively deaf i get it why because you in your yacht largest shareholder warren buffet are committing. it's a g. word 3 sobel so i let you go see you mention obamacare that was brought in under president barack obama many of the resistance or in social justice worries think he was the greatest president in u.s. history and brought about only good so since 2010 companies have invested more than $200000000000.33 plastic and other chemical projects in the united states including expansions of existing facilities new plants and associated infrastructure pipelines why did they invest so much what is going on uniquely in america that is seeing them expand into this is called fracking because there's a unique thing about fracking that actually lends itself to cheap plastics and getting a lot of money from this. and because the american fracking boom is an earthling along with natural gas large amounts of the plastic feedstock called the same in the united states is a big growth area for plastic production with natural gas prices low many fracking operations are losing money so

you got taken in by apologies game because use overrated it's not that smart it was just about warren buffet another example of how clueless he is. after the internet boom started in the mid ninety's after well after he started by newspapers clearly there were going to be dissent jimmied by newspapers well just this week last week he wants to sell these newspapers because he just figured out that it's oh no go where business and he's going to lose money with i'm sure so here's a guy who's critical of big coin and critical of technology but was buddy newspapers as early as 1015 years ago claims to have some special knowledge of the underperforms the market so why is he interviewed on c b c why does he get all the attention he underperforms he doesn't he's talking about he gets free money from the bank so what he also went in long apple only last year around this time to be fair it did double in price since then but it's still quite late in the whole apple game but in terms of of these excuses that they use for why the markets are like they are why the fed has to keep on intervening jamie dimo

. >> ninan: words from warren buffet today. in his annual letter to shareholders, the "oracle of omaha," who is now 89, acknowledged he would not live forever. buffet did not name a successor but told investors the company will be in good hands after his death. it's party time in new orleans. more than a million visitors are on hand for the city's annual celebration of excess. the elaborate cost expiewms floats have taken over bourbon street, leading up to mardi gras this tuesday. straight ahead on the "cbs weekend news," a political junky hunts for history on the campaign trail. don't stop the presses-- the unlikely savior of a small-town institution. and later, a colorado castle made of ice. and it even has slides. e. proof i can fight psoriatic arthritis... ...with humira. proof of less joint pain... ...and clearer skin in psa. humira targets and blocks a source of inflammation that contributes to joint pain and irreversible damage. humira can lower your ability to fight infections. serious and sometimes fatal infections, in

earlier today we sat down with warren buffet talking about what he thinks about this all thing. one of the big take aways he has over decades of investing, very successfully, is that while the coronavirus is a bad development for the human race, and there's a scare, it should not dictate investor's portfolio decisions. a lot of things being looked at is the risk tolerance. how much they can afford to use. this is a scenario. even with sharp losses, we're still within 5 to 7% of record highs. this is by no means a bpanic in the market. we haven't seen a loss like this in a year or year and a half. this is not a normal thing. >> dom chu, always appreciate it. thank you so much. any minute now the memorial for kobe and gianna bryant is expected to begin in los angeles. when it starts, we will bring it to you live. and senator bernie sanders is the democratic front runner right now. how the down ballot candidates feel about potentially have a self-described democratic socialist at the top of the ticket. don't go anywhere. we've got so much news today. you're watching msnbc. from fid

losers under armour funder performing, they will take a 50, 60 million-dollar hit from coronavirus, warren buffet had wished. as you see, it's earnings driven story, long weekend, a lot of people don't want to hold risk into it. ashley: very good, susan li, thank you very much at new york stock exchange. keeping an eye on the nasdaq, right now at the close right here up 14.49 points that would be another record close for the nasdaq, so it's touch and go, now one below it, whatever. love should be in the air, of course, on valentine's day but today's countdown closer may be breaking hearts today, we become clear bridge investment portfolio management michael clifell. >> first time accused of being a heartbreaker. yes. ashley: with that said, michael, why don't you like any particular segment ever? what's going on? come on. >> i think what we say is that we've had a terrific start to the year in 2020, real continuation of what we saw, there's a part that feels like momentum. the market was up 30% last year and markets up 5, that disconnect can't forever. while we continue to be positive given decen

pac, a super pac aimed at helping democrats in the senate races the second biggest spender was warren buffetonal campaign committee that helps democrats protect their majority in the house now, ranking third was jay adair the ceo of auto salvage company copart and gave just over $200,000 to republican causes with 95k to the republican national committee jeffrey sprecher of the intercontinental exchange gave $100,000 to the rnc. you got fred smith of fedex, greg brown of motorola solutions, and lance ryan of conoco philips also among the biggest republican donors. these are obviously small numbers especially relative to the big numbers we're going to see going into this year, but we will bring you them on a quarter by quarter basis and see how they grow into this election >> always interesting to get a pulse on that, robert. thank you. >> thank you >>> for more on the ceo strategy so to speak for the 2020 election we are joined now by the "new york times" pulitzer prize winning columnist jim stewart and also author of "deep state" and that's been back in the news hasn't gone away but certainl

>> well, jason, i have to say yes to quote warren buffet who the is most sufficiently investor of allhen people are fearful that's when you get greedy and yes you have seen fear this week with stock markets seeing worse week since 2008 in the financial crisis. but, i would say that today's market actually should give you some confidence because on a friday, typically we head into a weekend and investors don't really want to hold all that risk which they see in stocks. so today you were down 1,000 points in the morning. guess what in the final 30 minutes of the trading session 630 points up. some see that inflection point. i want to walk people away from this talk of recession as well, jason. recessionrecessions is is characterized as two straight quarters of negative growth. we haven't even seen one yet. there are a lot of fundamentals as you heard from larry kudlow to support the u.s. you have consumer spending, finding jobs. and by the way companies are making a ton of money. >> jason: susan, question about the federal reserve. are they going to cut rates or what is the perspective

people think there is a lot of short covering but have to tell you they gave a better deal to warren buffet on his preferred i would prefer you not to be in occif it goes to 49, 50, i would sell it. oh, shut up i'm sorry. jimmy doesn't say that stuff bill in illinois bill >> caller: boo-yah, jimmy chill. long time. >> what's up >> caller: thanks for helping us out every night. i've been following uber and lyft recently it seems like uber has bottomed out and making a run for it while lyft is trouble gaping traction. down around 4% is it time to back up the -- >> you don't want to back up the truck on lyft. i don't want to get wrong again. i think it's fine. i think uber if they got out of uber eats, especially after i saw the grub hup number which is not great you'd have a stock that went right to 45. this is a tough job. i'm going to make mistakes i made a mistake with lyft maybe i came too late to tesla but i come out here every night and try to sell the truth and if you got a problem with that, there's 560 other channels i know i've seen them all today's reversal in tesla is something th

if you think about the style and strategy of warren buffet, obviously it alliances i think people would be surprised to know you are talking about twitter. twitter is a value stock it is in the value index so value means something for mean that's a little bit different than the general, hey, there is this massive head wind, and it is related to energy because of lower pricing or net interest mother-in-laws for financial companies are at dramatic head winds so that's going the take you away from value. you have to look at companies -- a couple of names that i own, home depot, they have a tail wind behind it it is the capital allocation strategy and the consumer strength another name i talked about recently on the show, i believe and steven and i talked about this yesterday, the insurance companies, in the financial sector i mentioned chub yesterday but progressive. a name i keep talking about. it is able to overcome the obstacle of net interest margin contraction and have opportunities, opportunities potentially that will now come in china as you are got insurance companies being present

i think with their huge amount of leverage, the preperred from warren buffet on top of that the onlying to buy energy stocks if you are increasing your dividend so i just think there will still be downside pressure until they sell some assets i would watch the dividend if they don't sell assets. >> stephanie to you. i took my lumps in ge, he said, and have not been involved in the name for more than a year. do you see any value down here now, somewhat of a loaded question because you are in the stock and you can't to see value. >> i was not caught up in the name in the 20s and 30s. so it is a restructuring story it will take a very long time, but i do like the ceo. the 10k came out yesterday and the disclosure was materially better than it has been in the past i expect free cash flow to improve this year gradually. as the max comes back even better probably like a '20/'21 situation. power and renewables has a cost structure going on there they're actually building reserves so i think slowly but surely, this is getting to be a cloner story, but it's going to take time i'm in the stock

ask you something from left field, but i was thinking about it when becky was sitting down with warren buffet. do you think they would ever look at buying the whole company? >> i think it would be hard to buy the whole company just because of the sheer size of it all. and it's unlikely for apple to ever want to sell pieces because they've been driving the ship all in the same direction. and i think that's a reasonably defensible group of products so i think it would be hard to see an acquisition but the other guest made a very good point that this is going to be a light earnings for a period of time, but not a secular change in the way we consume technology and the way we consume the services that these companies provide. >> so david, you said -- apple is at $292 your cost basis, you started getting in at 8? >> the first initial investment. >> you've done pretty well there. >> thank you. >> you're talking about you're making your wish list. i know you're not going to tell me what's on it, but hint. >> i don't even tell my wife that stuff. >> would you be adding in technology >> yes. >> but i

and monday, on "squawk box" do not miss the oracle and becky quick, warren buffet sitting down with beckywering her questions and yours. plus sign up for c no.'s buffett watch neleerwstt it is free go to buffett newsletter.com to sign up. "halftime" is back in just two minutes. [cymbals clanging] [knocking] room for seven. and much, much more. the first-ever glb. lease the glb 250 suv for just $419 a month at your local mercedes-benz dealer. and when you open a new brokerage account, your cash is automatically invested at a great rate. that's why fidelity leads the industry in value while our competition continues to talk. ♪ talk, talk now you can, with shipsticks.com! no more lugging your clubs through the airport or risk having your clubs lost or damaged by the airlines. sending your own clubs ahead with shipsticks.com makes it fast & easy to get to your golf destination. with just a few clicks or a phone call, we'll pick up and deliver your clubs on-time, guaranteed, for as low as $39.99. shipsticks.com saves you time and money. make it simple. make it ship sticks. ( ♪ ) >>> let's do t

a level that it's always let's say diggs concerting when he leaves but you know what, he's not warren buffet and never said he wants the job. he's not going to be there till '94 i think he wanted to do something else but is staying on an example of a stock, you asked earlier about my kid says when this is over, i don't know whether it goes to 118 or 115 but maybe it goes to 112, i don't know if you'll see that 20 years from now i don't know if you'll see that. >> yeah, yeah. >> so that's the kind of thing that makes sense to me now, they are going to solve this, ty i don't know when they're going to solve it and people will go back to disney and when they do i don't think you'll get it for 115 or 120 if you wait until they solve it and, again, they will, you'll pay more i think that microsoft, they'll come a level because what is it -- the division that they're not happy with is personal computers. i happen to have hp on tonight, the hpq kind and said business is incredibly strong and we'll be hearing that interview with enrecoke, an exceptional man who is making it better and better but i t

the stock is up, next kroger grocery store chain, warren buffet 539 million stake that is, the stockdesignating 5 chinese media outputs as communists agents. ashley: very strong, state sponsored propaganda and agents of the communist party of china, we are expecting announcement, this announcement as early as this afternoon, these media outlets include china global television network, china radio international, china daily distribution corporation, look, the state department designation is supposed to highlight apparently increasing chinese government media activities in the united states and by this designation they will be more closely monitored and followed. stuart: okay, got it. ashley: there you go. stuart: this time he's really insulting minorities which has my next guest fired up. he will join us shortly. speaking of his honor, mr. bloomberg, he just qualified for tomorrow's debate in las vegas, so while this very first appearance on the debate stage changed the 2020 democrat race, i think it will, we are on it, back after this. let's get down to business. the business of road

programming note, if you have questions for legendary investor warren buffet.ght answer thison mday from 6 a.m. to 9 a.m. eastern we're coming right back. ♪ ♪ ♪ ♪ ♪ ♪ don't get mad. get e*trade, dawg. these are our sales... by product, by region. you can actually see taste- trends. since when can we do that? since we started working with bdo. (announcer) people who know, know bdo. which of your devices are protected by daily security updates? daily security updates... daily? i don't know. the only thing... i'm struggling with this. some providers you have to manually download updates to each device. comcast business securityedge updates every 10 minutes to help keep your connected devices protected against new ransomware, malware and phishing threats. every 10 minutes feels pretty good. get secure, reliable internet and voice for an amazing price. call today. comcast business. beyond fast. >>> welcome back to "squawk box. time for a few stocks you need to be watching this morning. joining me for that is cnbc contributor stephanie link good morning. >> good morn

dagen: warren buffet is fascinating and mitt romney is more moring than my runnings shoes.s not a good retail politician. his wife would have done a better job if she was running for the highest office in the land. maria: we'll take a break. when we come back, u.s.-china trade, steven mnuchin is here. he will weigh in on beijing's move to cut tariffs on $75 billion worth of u.s. goods. we'll also talk about the economy today ahead of the jobs numbers out tomorrow. join us for that special interview coming up. and tax tips, the way you can save money, what you need to know before you file. plus, push away from the table, we'll tell you how much you're really spending with food delivery apps, don't miss that. all that coming up. first, twitter shares rising on fourth quarter results this morning. we're taking a closer look at twitter with a rally in the stock. are you a great tipper? the results found in a new survey that may surprise you, later this hour. stay with us. ♪ i keep breathing and breathing and breathing and breathing. ♪ keep on breathing. pods puts you in control

warren buffet? no, warren buffett that guy now is your chance to ask.ill answer them on monday we're coming right back. we see heating breakthroughs clearing the air for billions. at emerson, when issues become inspiration, creating a better world isn't just a result, it's a responsibility. emerson. consider it solved. >>> earlier this morning we learned mike bloomberg qualified for tomorrow night's presidential debate. if it's good for anything it's good for ratings i may have to. andrew ross sorkin is here in spirit and now on the phone as well he joins us with the details and immediately i think it's interesting that you say that these proposals would not immediately be rejected by an elizabeth warren or a bernie sanders and i think that's notable because it shows bloomberg's hand on where he thinks he needs to go. is that the right take on this >> i mean, i think that's going to be at least the initial take. it is at least for him relative to many of the positions that think he was dead previously among many things is the idea of a financial transac

over to you >> thank you >>> a quick programming note as we go to break as we mentioned earlier, warren buffetday. he'll sit down with becky quick to answer her questions and yours as well. you could send them to social media using the #askwarren of course the berkshire letter will come out tomorrow more "squawk on the street" after the break. ( ♪ ) we see hat emerson,kthroughs when issues become inspiration, creating a better world isn't just a result, it's a responsibility. emerson. consider it solved. try to win by attacking, now, we know the trump strategy- distorting, dividing. mr. president: it. won't. work. newspapers report bloomberg is the democrat trump fears most. as president, universal healthcare that lets people keep their coverage if they like it. a record on job creation. a doable plan to combat climate change. i led a complex, diverse city through 9-11 and i have common sense plans to move america away from chaos to progress! i'm mike bloomberg and i approve this message. >>> the founder and chairman and long term ceo les wexner stepping down yesterday. the company announced a

. >> if you don't care, so rich like warren buffet, it could be brilliant. like dole.f you are a multi-billionaire, that's not right. i think fang offers a better opportunity because the compression of the multiples are extraordinary. netflix is doing terrific. why? overseas and alphabet too low and cloud services doing much better alphabet, okay, people coming back to work amazon, i understand, is doing quite well am i supposed to hate that group? instagram on fire. i don't know, i like f.a.a.n.g >> do you want to buy -- >> tesla shares up only 88% for the year down dramaly from highs. up only 8% for the year. >> the 19th month of decline, toyota today warned on corona, not because of china, they will face bottlenecks >> ford, do i worry about the dividend, perhaps? i thought home depot would have bought them today after lowe's, not. not a great day to buy the market when it's up. you may get chances. >> the first cluster of cases, whatever it is in the united states we have 30 cases in. >> the first shoe is a tourist from spain who went on -- a tourist from italy, we

. >> yesterday we had warren buffet on that told us he has been speaking to bill gates about this andnecessarily killed off by warmer weather >> what do you know? >> we don't know >> when you have something novel it can continue to circulate it could pick back up again. that's what happened with h-1, n-1. it came in the spring and continued to spread in the summer and dropped off and then came back in the fall. >> they'll have a huge business impact an impact on this network and this company an impact on all japan what are you thinking i don't know if japan is doing as good of a job they can't trace back to a source and that's a signal that they probably have more spread in their country that you're just not identifying. >> we have seen this expedited expedited drug approval for a vaccine. couldn't there be an expedited testing process if we decided. >> it's a challenge. this is a coronavirus. it might be more difficult to make a vaccine we don't have a lot of experience. >> it's tough enough. >> with h-1 n-1 we were able to make a flu vaccine. >> it's a small genome. >> people can ge

money and trade under a different symbol than common shares they've been a favorite vehicle for warren buffetrred stock last year and famously scored big on preferred shares after getting a special deal that wouldn't be possible for smaller investors with goldman sachs, general electric buying them up during the financial crisis preferred stocks spits out dividends much higher than ordinary shares. for example let's run through the numbers on bank of america the common shares are paying a dividend of 2.1% the latest preferred stock was issued last month paying 4.3%. a september, 2019 preferred issuance was offered to the market at 5% most of that was gobbled up by institutional investors but individuals can get in on the action as well buying the preferred over the common shares would give, have given greater yield but common shares have surged up 25% since september. common shares of broad com pay 4.25%. preferred shares issued in september of last year were offered at 8%. again, better yield but in that time frame the common shares are up about 10% there are also etf's dedicated to the spac

incentive to think externally than very high equity valuations maybe theoretically thinking of warren buffetthe opposite but it isn't. >> you mentioned the election of course as a long-time democrat i'm curious as to what your thoughts were last night as you watched some pretty nasty sparring amongst the candidates and certainly our former mayor mr. bloomberg took it pretty tough >> well, it was the first really feisty and, you know, rock 'em sock 'em debate. the others have been tame and really not all that interesting. so i thought it was fascinating. sara and i were talking before, you know, coming on, about, she said she couldn't take her eyes off it i agree. i couldn't either. i think the -- on the other hand, it's ironic to me that nobody laid a glove on bernie. i just don't quite understand that because the task of laying a glove on bernie is pretty easy >> how would you do it >> well, you simply say, number one, if you have employer provided health insurance which 149 million americans do, you will lose it if you want to decriminalize the southern border, if you're crossing illegally

donor in the fourth quarter writing a 5,000 dollars donation helping democrats in senate racing warren buffete. that helps democrats protect their majority in the house. now ranking third, someone i hadn't heard of, he's the ceo of the auto salvage company and gave just under $200,000 to republican causes with 95 paid to republican national committee. now the intercontinental exchange gave $100,000 to the rnc. fed smith of fedex and greg brown of motorola solutions. this is just one quarter obviously they aren't huge numbers but we're going to follow this all the way through november. >> did anybody really say they're not taking big donors? money from big donors? >> i think so far elizabeth warren and bernie sanders, they haven't held big fund-raisers. so i think those two you could everyone else, no. >> robert, let's continue this conversation stay with us we're also going to bring in our guest who is the co-founder and managing director of the venture capital firm and our guest host john hope brian. let's get you to weigh in on this part of the conversation. you have been voecal about suppo

i've said this repeatedly,ed ad nauseum on this show, every financial instrument is correlated >> warren buffetunless someone pays more for it. >> i think he's an exceptional person i've learned an enormous amount from the afar and a few interactions, he is completely wrong. >> shouldn't it have gone down >> if it was digital gold. >> you have to look at volumes these are not thisly event driven strategies. >> you just said digital gold! >> i didn't say that >> he didn't say that. that's what people say >> i don't think when you wake up and see a corona virus scare going down 2,000, you shouldn't buy bitcoin. 1% of my net worth should be on something completely uncorrelated to the world and how theworld works over some period of time accumulate a position and just never look at it again and hope that insurance under the mattress never has to come due if it does, it will protect you because then it will be hundreds of thousands or millions a coin. >> we have to go bank stocks, what are you? >> i'm a net seller, other than amazon >> because >> i think facebook gets regulated. i think google has t

. >> warren buffet is the most famous investor, you start looking at his holdings. >> does it becomepinned up demand? >> i think so. i understand the services but the 5g that may be upgrade circle. i think the markets priced that in. it's kind of built for perfection price wise but the market figured out a fair amount of upgrades. >> so is the fed helping or still on the sidelines? >> i think the fed is helping. >> liquidity? >> they may taper that,um because of that, overall he basically said a couple of of days ago unless we see inflation we would be on sidelines. look, i do believe we have a power, still 50/50, the fed will come down a quarter point, i hope we don't have to. we don't always need the fed to bail us out. >> 2 to 10 are negative. >> a lot of people including the president like to see rates go lower, i don't think we want to be at negative rates, i don't think it's where we want to be at this point. fourth quarter 2018 and so it happened there, now we are seeing this kind of pause and let the economy do its thing before they intervene. >> stay with momentum and not wo

warren buffet had newspapers, the enterprises stock is trading at 1 something.n set of issues. we're facing a situation where newspape newspapers could be passenger trains. many major cities and minor cities that simply don't have daily newspapers anymore, and it is, as you suggested, a huge social problem of how to keep these state houses, local governments accountable. there have been some organizations that have sprung up. some nonprofit, some for profit, but i think we should be rethinking the whole model and you know, i think we're going to talk about pbs perhaps in a minute. there may be a role for government funding, no strings separate from the coverage. we have to have accountability. we have to reporters out there covering this stuff. >> well, on the pbs point that you raised, steve, last week trump's budget proposed zeroing out public broadcasting funding from the federal government. >> but they do that every year. >> they have done it every year. many thought it was a response to the whole pompeo episode with the anchor of "all things considered" and

by the way, warren buffet said something very similar to that. that's still my basic view because, again, our threat assessment is low and the economy is fundamentally sound. stuart: it seems to me that the worst thing that could happen to america's economy is that there's a panic attack on the part of ordinary people, they stop going to the malls, they stop buying stop and stop associating and the economy slows right down but i think you're telling us that there's no reason for that level of anxiety that the administration team can take care of the virus as it is in america right now. should we leave it there? >> i think so. look, stu, the president acted early and making smart moves, travel bans, quarantines where necessary, convening meetings, meetings here in the white house twice a day for many, many weeks and extended task force. we have been all over this and, again, there's nothing more serious, nothing more serious or high priority than protecting the health and safety and security of the american people. i mean, we've been all -- unprec

fast money be sure to tune in to "squawk box" monday morning for our annual ask warren show and sign up for cnbc's buffet news letter just head to buffettne buffettnewsletter.com. >>> chris, this one goes out to you. you say there's one sector that's been immune to the recent market weakness. what is it >> it's bow tech this is the xbi, the bio tech etf. one of the best performing group since the iowa caucus three weeks ago despite the perceived political risk out there, bio tech acts exceptionally well there's also a lot of short interest here. 50 million shares on the xbi are short. you start to break this thing above 100, this is a major, major breakout it's a great chart it's been dead money for the better part of the last several years. we like it here. we like it long. it's been immune to this weakness. >> the way this has traded in a baa baa bad market and it's getting to 100, generally when stocks get into the 90s, 100 is that magnet, if you can break it out above that and you get some kind of turn around in the market here, you get a bull market here, this thing could break out much higher. >> y