mark bristow, president and ceo of barrick gold corp.ren buffett is reaping the benefits of the u.s. economic recovery, we'll break down the earnings of berkshire hathaway, next. this is bloomberg. ♪ alix: dr. hathaway rode a strong comeback, racking up its largest a quarter profit led by railroad and manufacturing businesses. dave wilson has the deeper dive. dave: quite the quarter for warren buffett's conglomerate. you take a look at the bottom line figure, $28.1 billion. it definitely jumps out and terms of being the most for any company in the s&p 500. now, about three quarters of that was investment gains. and berkshire hathaway will say at any time that number is usually meaningless. but that said, if you look at it , it was up 21%. it was not the insurance businesses, geico and all the rest, that delivered the growth, it was all about the rest of the company -- the utilities, railroads, manufacturing services and retail. they more than doubled in the quarter. it's clear that berkshire hathaway benefited from the economic recovery.

john of barrick gold was certainly watching that moment. he joins us right now on all issues.p and bottom line. barrick gold ceo and president mark briscoe joins us after the company reported second quarter earnings. good to have you mark, can i get your thoughts on that moment in london overnight what did you hear, what did you first notice and what did you think when you saw it drop so precipitously? >> well, liz, good afternoon. yeah, we needed something like this to just bring home the importance that mining is a long-term business. we allocate capital on a long-term basis and we at barrick are really committed to be able to manage sustainably profitable mines throughout the cycle and everyone has been carried away about you know the gold price and the margins and and i've been banging on the drum about the fact that it is important for to us invest in our future and i think that reminded everyone. i always say the gold price goes up and it goes down, not necessarily in that order. it was a big reminder we're in a very unstable time now as we emerge out of the pandemic. we

i was route for rich countries over poor countries because the poor countries don't have hyper barrick algorithmic super computer chambers in which to train their growing muscles to be 5 times the size of a car battery knew this. so most of the time the people i pulled for when, and that's why i'm all about the big dark money corporate candidates. so excited, so excited this week and so excited this week, magnetar last to the big money machine. but it actually did have an interesting side effect wednesday, the people's party, an actual progressive 3rd party in actual anti corporate party was trending nationally on twitter. meaning after every one across the nation, saw a corporate money steal nina turner's election. they suddenly had an interest in a real anti corporate party. fascinating that it's, it's almost like the corporate dams are making their point for them. when you go to a quick break, but as you check out, my interview with congressmen dentist consented at portable dot tv where you can get all of our episodes or listen to the reactor. then i podcast is called moment of clar

mark bristow, barrick gold. >> have a good day >>> let's hit our "etf spotlight. energy, speaking of commodities. xle in the red this morning as oil prices slide following new measures in china to combat the spread of the delta variant as well as the u.n. report on the impact of climate change top holdings chevron and exxonmobil feeling the painful shares down more than 5%1. we'll be right back. stay with us you packed a record 1.1 trillion transistors into this chip i invested in invesco qqq a fund that invests in the innovators of the nasdaq 100 like you become an agent of innovation with invesco qqq ♪ ♪ ♪ ♪ ♪ i'm evie's best camper badge. but even i'm not as memorable as eating turkey hill chocolate chip cookie dough creamy premium ice cream and chasing fireflies. don't worry about me. i'm fine. you can't beat turkey hill memories. >> welcome back. i'm rahel solomon. a code red for humanity. that's how a united nations report describes the threat of global warming it says in ten years temperatures will be above the threshold world leaders have been trying to av

big position in a number of goldminers, includin nova gold resore, perpetual resources, ashouldn't, barrick that will eventually prove to be worthless. he made the comments about david reuben steen on bloomberg wealth. >> and then a generation of traders who profited big from that crisis. the open question remains, can they spot and profit big from the next one >> you can get it right once can you keep getting it right? >>> thanks for watching "power lunch. "closing bell" starts right now. >> welcome to "closing bell. the nasdaq is in the lead to kick off the new trading week, up 1%, as we head into the final hour of trade with the s&p 500 and nasdaq both said for report closing highs. >> i'm courtney reagan in for sara eisen today let's look at what's driving the action on this monday. tech is on top today as apple, alphabet and semiconductors hi all-time highs. financials are moving the other

effort, which was within president carter's control and went badly or the bombing of the marine barricks in beirut, lebanon, in 1983 when president reagan was this power. none of these things were a result of the president who allowed a policy to develop then put us in a dangerous place, but at those moments, what the country wants to know is do we have a firm strategy do we have a leader capable of implementing that strategy another example would be the black hawk down strategy in president clinton's first year that time period was not just to console. it was to show the country that he could figure out where to go next in a situation that he or someone working for him had not handled well and that's where we are today with president biden this is becoming even a much bigger crisis of his presidency than i expected two weeks ago. >> no question, this is the darkest day of this presidency there's no other way to evaluate it michael, stay with us if you can. i want to get to eamon javers who covers the white house in washington he was to have spoken 19 minutes ago. do we have any indicati

he added barrick, the gold miner , and other interesting moves, cutting back on drugmakers, continuingo ramp up in the quarter stake and disclosing a spinoff in the merck spinoff. another firm that gets a lot of attention is the firm of george soros. it dumped all these stocks it picked up in the first quarter by the implosion of the fund run by bill hwang. the soros fund management sold off all of those stocks, notably viacom, cbs, discovery, tencent, and baidu. it looks like the entire position sold off. they picked up a large chunk of those stocks in the first quarter. soros also added amazon. finally, it looks like the love affair with tech may be over in that a lot of these terms -- firms seem to be selling tech holdings. haidi: it does look like investments -- does it look like investments tied to the pandemic are still favored? su: we saw stocks like doordash picked up or added by hedge funds. chase coleman, tiger global, doubled its position in doordash. another one doubled their position, also added to its position in pellet gun, zoom also -- in peolton, zoom also, and moderna