mr. buffett, as you said, he's aging. there will be a succession here, the person who follows them will probably want to put their own mark on the company. how do they get out of it? it seems like a hotel california of trades, if you will. >> yeah, to some extent, but i think his successors think about it more than he does. they are the ones who put the original research into identifying apple. to his credit, not only did he get on board, but ramped it up, put it in on side, and again he's been very careful and wary of tech his whole career. to make the greatest investment is pretty impressive. yeah, it's almost impossible for them to dump it, unless they do it slowly over time. >> there are few 589 tiffs. it seems like a lame sort of reason to stay. when you're talking about the disparity in the s&p 500, you would think there are values out there to be had in various sectors. this is exactly the kind of market that warren buffett should thrive in theoretically? >> there are alternatives. charlie munger, i got to see him

mr. buffett saying it was extremely likely that apple will remain their largest holding at the end of the year, and gives you an idea of the conviction he has in this name. he raved about it and tim cook was at the meeting, too. you don't take anything from this. you take it at face value about the tax idea, but also this turn around, if you want to call it such, in apple, really, that it had last week and that it's a turning point for those shares, giving a little back today but not very much. >> first of all, always take warren buffett at face value. we will leave that to the side. what i think is interesting about apple and we talked about it on "closing bell" last week, and i thought sentiment was negative, and below earnings it was below the 150 moving average, and today it's above all three. so you have had an extreme shift not only in sentiment but in technicals. you say brighter days are ahead from apple, and from a revenue growth respective, actually, if you go back ten years, the revenue growth doubled. to me what is interesting is their margins, their operating margins are up a

mr. munger and what that means for warren buffett himself as he thinks about what the next great thing is going to be. >> yeah, there is an interesting kind of dual message you'll pick up, which is, one, that charlie munger himself and his voice is going to be missed tremendously. tomorrow, it is like the showcase of buffett and munger's kind of discourse on display at all times. and that will definitely be somewhat of a void. on the other hand, he's been involved and a part of buffett for so long that it feels as if all the lessons are somewhat engrained in the company. what you mainly would look at is what warren buffett himself said about munger, he taught him how to get out of just that kind of old-fashioned deep value statistical approach to cheapness and buy higher quality businesses at fair prices. that's the key single insight that allows you to buy something like coca-cola, american express, and all those other long time holdings at a price maybe they weren't bargain basement, but the insight was the world will see that these brands are worth more over time than just what they ea

mr. buffett about a strategic investment. again not confirmed. boeing has not gotten back to us. not gotten back to us but it is what you're hearing from high level sources. sources i'm talking about people in the m&a business, they are often former government officials. it is starting to get out, they are talking about approaching him. i don't know if they did. this is clearly in the water here at milkin. as you know, liz there is no bigger epicenter of power of financing in government than here. trust me the people i spoke to are major players in that nexus. that is one thing kind of out there. the other thing that is fascinating here, more stuff on shari redstone, who she might pick as potential buyer of paramount or her stake in paramount. there are two deals she is weighing in. one involves skydance and redbird. kind of like a reverse merger. she sells her stake in max amusement which controls paramount to skydance. skydance essentially merges back into paramount, creates a new company. she gets paid a couple billion dollars. shareholders don't like that deal but she still li

mr. warren buffett is running through berkshire hathaway requires cash pile. just want to mitigate a little bit the absolute number. all investors are facing the fact that yes, cash is very high and this is on a relative basis. this is the main concern on the equity side why we are not seeing much more than current levels. >> within your notes, you are f focused on geopolitical risk. where are we seeing the geopolitical risk right now? we are seeing wti below $80 a barrel. when you are looking at the geopolitical risk in the market, where should investors look at that risk and how should they respond to it? >> i think oil prices are not at the risk premium with the oil demand and supply. we like to find some of the opportunities standing from geopolitical risk. one is the east/west divide. china traveling to europe this week. there is a big shift. there are winners with vietnam and mexico. we are trying to find winners of the current tensions we are seeing. these are examples related to reshoring or near shoring which is benefitting from the geopolitical shift

mr. warren buffett, you should pay more in taxes and that will solve our problems. i don't know. ms. brainard: the questionnaire is, should we rely on publicly-minded people to simply pay more than they are -- more than they owe? we think that when people who earn over $100 million on average pay 8% of their income in taxes, whereas people who are squarely in the middle class are, you know, like teachers and firefighters, paying a great year more of that, actually need to just ask the billionaires, the multimillionaires to pay a higher rate of taxes in the tax code. that is the only way, i think, you're going to get broad, necessary amount of revenue we need as a society. ms. edelberg: excellent. so, before we get to -- i'm coming back to the 2017 tax act. before we get to the date when these provisions expire, we are very likely going to have a debt ceiling debate. what role does that play in this debate? is it -- i don't know. i guess, i mean i'm trying not to just ask the question of, is the debt ceiling the dumbest thing or just a dumb thing? i'm trying to ask a more substantive

mr. buffett indicated, there's very little that we fully can understand, to a certain extent.ven its creators don't fully understand. but it may not be as much as sort of the apocalyptic things that i kind of kid about on air, as you guys know, as much as the deep fakes and the ability for bad actors to use generative a.i. to their ends, and i certainly think that seemed to be where buffett was more focused, but harm is harm. and while, you know, maybe they're not going to replace us just yet with the a.i.-generated robots and that's a ways away, this is much nearer term, don't you think, jim? >> oh, yeah, david. i was arguing with someone about a medicare scam where i knew it was a scam, and i knew that they had my medical records. i wish they did not. i don't know who gave up my medical records, and i was very cognizant that i went on too long and that they could easily imitate my voice doing something if they were going to do a.i., because once you have the cadence, you can make anybody sound like you, and carl, that's r a real threat. someone sounded likeme and i said, lis

buffett. for a long time he used to say climate isn't impacting things. >> you better be careful of drawing conclusions from weather pat tense. we have about 25 mrsworld we're certainly observing greater frequency and severity in those claims. >> is it because more expensive properties in these zones or storms are actually worse? >> we think it's because the storms are worse the frequency and severity of these storms is growing. you look at the weekend. you had tornadoes going through the southeastern united states that's become a thing here and it didn't used to be. >> there was a story last week, i can't remember if it was "the new york times" or the "wall street journal," where they talked about how homeowners and farmers in the middle of the country couldn't get insurance anymore. they're being treated the same way that florida homeowners used to be treated. that make sense from your perspective? because the catastrophe is much more highly likely >> i think that's right. exactly the point about building greater resilience into the economy which is about better building standards, where you build, the mitigations you can have in terms of early