mark bristow of barrick gold, president and ceo. some breaking news for you. is an official resignation in the lebanon government. the health minister is now resigning. this is has the overall government is inching closer to collapse. there have been reports off the record that several ministers have resigned or are close to resigning. there were reports earlier in the day that the finance minister had resigned, according to a local news source. the international institute of finance has also been running the numbers in terms of the that this blast will have on the economy. the blast may deepen lebanon's recession from -15% to -24%. this is a country that was already struggling, and it is pretty clear that there is seismic change that is needed. we've seen the blast. it has shaken the entire country. now that needs to reverberate through the political class. it'll be interesting to see what role the french will play after mr. macron's trip last week. alix: coming up on this program, colleges and universities are now set to open. we will discuss the cost up occ

. >>> did the oracle of omaha warren buffett just make a huge investment in gold miner barrick gold, maybe not for the gold but the copper part of the play? taking a look at barrick stock, it's up 2.7% month to date but pretty much where the company started at the beginning of the month, even before the huge rally monday, when buffett's investment was announced. but aside from being one of the world's largest gold producers, barrick, the ceo told us a week ago, has a huge copper business which produced more than 430 million pounds of copper last year. as you take a look at copper, it might be down two pennies at this hour but prices hit a two-year high in earlier trade today. we are watching that. remember, copper is very much a proxy for the health of the industrial activity of the world. >>> stocks recovering from earlier losses, putting the nasdaq on pace for another record close but with the markets and popular stocks like apple and tesla, have you seen tesla, hitting record after record, are there some more unpopular stocks that investors should consider for their portfolios rig

we will get the thoughts of the ceo of barrick gold.is bloomberg. ♪ to "bloombergback markets," this is the european open. i'm matt miller in berlin alongside anna edwards in london. we are looking at futures showing gains. about 21 minutes ahead of the open. we could see risk on tuesday morning. i want to talk though about something that glitters and literally is gold. the world's number two gold producer sees higher prices as the pandemic hires the global economy. it is not planning to take a more aggressive approach. barrick gold ceo mark bristow says the company will continue to make decisions based on the long-term price of $1200 an ounce. you want to keep the relevance of being a large cap company in the resource base and you want to continue to replace the gold you mine, you were going to have to get your head around the importance of coming with the gold. we have to move to bigger and bigger deposits, which are then usually deposits that come with gold and it is the same process, very little difference in the technology, but i d

in the 2nd quarter and while he was buying gold i'm buying back at half a $1000000000.00 with the barrick gold he i want to point out that colombia a country and they sold 2 thirds of their gold in june alone so you know they were getting out there's always down money and there's always smart money at the table so if you don't know that the sucker is at the table it could be you you were right well you know the fed is out buffeting buffett right if it were taught fraud how to commit fraud to the central bank you put a lot of money in and buy stocks that go up because you're buying stocks that go up right so he made that game possible and so but the fed figured out wait a minute why are we letting warren take all this fraud money we should get some of those fraud money so now the fed as i've often buffett so something look for buffett to do you know he is entering the game of precious metals and precious metals is a nonstop sort of manipulated market. j.p. morgan has been fined over the past 2 years for manipulating the prices on gold and silver i think they're still under criminal indictm

after gold's worst week in five months, it will be interesting to see if that stake in barrick gold popsold miner perhaps a tell for the gold bowls that warren buffett is seeing something he likes. typically, that will rely on the price of bullion. viking global america, they are carrying tests. they've boosted their stay-at-home stocks. , this year is all about the robinhood trader and if we go to the terminal, the robinhood trader is still getting the professional since the march lows. a little more than 60% and the s&p 500 really unbelievable as the march lows up 50%. thatr: it is interesting their new proposals raise the threshold that you have to report your holdings from 100 million to 3.5 billion. >> it is going to be interesting. the sec proposed this in july. from $100on up million. this is the first -- this is -- i should say the three point $5 billion is equivalent to the $100 million, but it targets the larger investors out there. we are going to lose a lot of visibility into what some of the smaller investors are doing, health care, tech is in the middle, utilities, those la

let's bring in barrick ceo and good time for your company going on with the metal.s for gold itself. are we going to continue to see it move higher and are you going to continue to generate free cash flow, the likes your company hasn't seen? >> back in the first of january of last year to pull the real value driven company and basically what the gold process has done in the last while is just brought everything forward. but we're on track and we certainly are designed to make, you know, significant returns at long-term process of 1,200 these are great and you're seeing the benefits of it, you know, visually >> hey, mark, it's kramer. how are you doing? >> i'm good, jim thanks, you? >> i'm doing better than good because i always believed that gold should be part of people's portfolio. do you believe that is what is happening? do people believe 10% of their portfolio should be gold given the fact that things are crazy out there? >> yes, i think, jim, somebody is really getting their head around that and we've seen it, we started seeing that before this big run up wher

we've got barrick gold on the screen, it's at $2994.a stake in the company. ashley, do you know how many shares buffett bought in barrick? ashley: well, yeah. a stake worth $564 million. that would make him the 11th largest shareholder of barrick gold. it's really interesting, this stock is up 63% year to date. gold itself has been up 18% in the first half of the year. but as we know, warren buffett never been a fan of gold up until now. i was reading some of his quotes. he said once if you own an ounce of gold now, and you ka rcaress for the next hundred years, you will have an ounce of gold a hundred years from now. it doesn't go anywhere. it doesn't buy anything. it's not the civilized buy says warren buffett's right hand man. nevertheless, he puts his money in gold which got out of some of the more im famous financial na. that led people to speculate maybe he wasn't that bullish on the economy. nevertheless, he's very much into gold. $564 million worth with barrick. stuart: got it. buffett on barrick. got that. all right. >>> alcoho

barrick gold is a much smaller company. took a huge stake in it based i think on the same principles. if you want to lever that gold play to the upside, you can look at the gold miners. i would say from a risk adjusted standpoint, sticking in the tried and true s&p 500 names, you can really make all the return you need without really losing sleep overnight. charles: it's got a great symbol. easy to remember. gold. mike, thank you very much. talk to you again real soon. >>> all right, folks. nasdaq, s&p just ripping. the dow, trying to keep up but it really can't. liz claman, it's another big day in the markets. liz: oh, huge, charles. each day has been huge. you hand it off, i take it and things have just been exploding. we have a fox business alert here to start with. with the deadline to submit bids for the u.s. assets of tiktok less than 72 hours away, sources close to negotiations are now telling fox business that quote, what last week was a quote, baseball game in the seventh inning with microsoft in the lead has now t

. >>> coming up, barrick gold ceo on how long gold's record run can last. and the metal that's also helping their earnings. . they've really stood the test of time. much like these majestic rocky mountains. which must be named after the... that would be rocky the flying squirrel, mr. gecko sir. obviously! ahh come on bullwinkle, they're named after... our first president george rockington! that doesn't even make any sense... mr... uhh... winkle. geico. over 75 years of savings and service. liz: i'll tell you, this gold rush looking more like a stampede lately, with the precious metal blazing to multiple new records. gold finishing today's regular session with the third highest close in history. take a look at what gold has done just this past month alone. jumping 13%, it stands today at $2,035 a troy ounce. broadening out gold prices have rallied more than 30% just since january 1st. these golden moves in 2020 have definitely helped restore the luster of mining stocks, some of which have been rustier long term but what will the year to date glow do? will it

it's just interesting that this barrick gold trade has taken every gold miner up with it. >> anything you would add to that, robert >> i would just say let's not confuse the community with the commodities. he's buying a lot of gold and it fits his criteria. it generates a huge amount of income, $400 billion last year it's 11 times earning and it's fairly cheap and pays a good dividend as a company, it fits the buffett standards and let's not confuse it with actual physical gold which he has rightly said it doesn't make sense for berkshire to own >> it's just that these companies have been around forever. does he think now the value -- whatever i'll take it with a grain of salt, it just is a very head-scratching move today >>> next, a group of california state legislators are proposing a statewide wealth tax this is the first of its kind in the u.s. the proposed rate 0.4% of net worth over $30 million this comes as the golden state obviously faces a huge debt over the pandemic how much chance do you think this actually has of becoming law in california? >> totally unclear the governmen

barrick is a big buy, really kept that sentiment going in the gold market. cheryl: times have changed and sometimes, stability and a little protection is needed even if you are warren buffett. phil, david, guys, thank you very much. >> thank you. >> thank you. cheryl: well, it is the economy. democrats looking on the first night of their convention to gain ground with voters in how they could handle the economy better than president trump. former 2020 candidate, senator bernie sanders, digging the president from his handling of the economy during the pandemic but also arguing that the trump administration wasn't doing enough for small business. hillary vaughn is in wilmington, delaware with details on the fight over the economy and the 2020 election as we go into or we are on day two of the democratic national convention. hillary. reporter: cheryl, well, democrats last night on the virtual stage at the dnc tried to make the case that the economy is a winning issue for them because they think that president trump has not done a good enough job during this pan

then one interesting look here it's a new position for berkshire hathaway in barrick gold materials one of the best performing sectors over the last couple of months gold prices are a part of that story. >> thanks a lot. the caveat to all of these filings is they are as of the end of the second quarter. i don't know who's got the dog probably bk. >> yeah. >> positions could have changed since then berkshire hathaway has been an acquirer of bank of america very recently part of that selling of financial stakes could be portfolio rebalancing here brian kelly, the gold mine of berkshire hathaway, that really caught my eye. >> that to me is the biggest news you heard my dogs barking. they thought it was huge news as well this is warren buffett, the oracle of omaha, the best investor of all time that has consistently for the last decade said gold is magical metal you'll do better off buying american companies here he is selling banks, american companies and buying into gold. to me, the signal for this is that he's talking about a longer term view. if you're following him, you're saying, wait

berkshire is now the 11th largest shareholders in barrick.prising dismissing gold as a good story val uchlt either way that, is driving barrick up 11% or so it goes a little bit against victoria the philosophy of the oracle of omaha. what does it tell you if he's getting into gold now? >> i think a lot of people have this gold play in the portfolio because they're looking at some of the inflation concerns. there was a deflation concern for such an extended period of time and now we're starting to see that turn around we saw some of the cpi and the ppi numbers actually move higher we have seen the dollar move down i think about 5% in the last 12, 13 weeks that is not surprising we're seeing treasury issuance continue it's an inflation play that people are going into gold you can look at other ways to do that inflation play. can you look at tips there is a lot of demand going into tips. we're seeing the inflation break even numbers move higher we don't actually hold gold or the mining players in our portfolio. but i think it's the inflation tha

welcome back if you caught up at the top of the hour you heard warren buffett took a new stake in barrickt on gold. one viewer asks i have gold september 20 215 call. should i sell it for a loss or hold it? >> i think you sell it for a loss we know gold has just pulled off nine consecutive weeks in a row up that's only happened three other times in history, 1980, 2003 and 2006 and looking forward those other times gold moved down consistently one month, three months, six months gold got a little hot. i'd take the loss and move on. >> spy, march 290 puts, what do you think? >> i like owning puts. obviously it's consistent with our xrt trade. that's a little bit far out and a little bit far down. >> it's time for the final call. the last word. carter braxton worth >> xrt is a way to bet against consumer retail. we like it on the short side >> tony zhang? >> i'm looking for a continuation in the surge in gaming selling a put vertical spread in nvidia. >> mike khouw. >> it looks really exciting. i'm looking forward to it. october 2 nlnd xrt 50 strike put >> that does it for us here on "option

in the 2nd quarter and while he was buying gold i'm buying back at half a $1000000000.00 with the barrick gold he and i want to point out that colombia a country you know they sold 2 thirds of their gold in june alone so you know they were getting out there's always down money and there's always smart money at the table so if you don't know that a sucker is at the table it could be you. if you were right well you know the fed is out buffeting buffet right if it were taught fraud how to commit fraud to the central bank you put a lot of money in and buy stocks that go up because you're buying stocks that go up right so he made that game possible and so but the fed figured out wait a minute why are we letting warren take all this fraud money we should get some of those fraud money so now the fed is pumping buffett so something well for buffett to do you know he is entering the game of precious metals and precious metals is a nonstop sort of manipulated market j.p. morgan has been fined over the past 2 years for manipulating the prices gold and silver i think they're still under criminal indi

you brought up before that's where i like some of these juniors and matures not not the majors like barrick and yuma but. i did at the start of the coronavirus people were really concerned about what this would do to the mining industry and of course at the start we saw a lot of mine closures and i myself thought this is really going to hurt the mining industry but but look at the miners now look at that she has look at the g x j they really turned it around and you mentioned energy prices and that's a key component we're seeing you know energy prices down by over 20 percent. and that's a huge part of the miners' expenses so they have a lot more cash flow and how most miners are operating with an all in sustaining cost as a cost that it takes to get the metal out of the ground with about $800.00 on the bold front about 15 right now with a silver mine or so and $800.00 all in sustaining cost and now are over $900.00 you can see how all of a sudden gold miners coffers are filling up so they're net they're a really really good position here right they've spent 8 years during the bear market ge

on its head and going from saying the gold has no useful utility to buying a 1.2 percent stake in barrick gold one of the biggest gold miners that suggests to you there are an awful lot of people's thinking around gold and its value is changing in the face of this pandemic but also as a result of the monetary stimulus this being unleashed and fiscal stimulus being unleashed around the world in new york christian lawrence is this a matter of something that's been developing over a long time or is this really being driven by the current virus pandemic are we seeing something new here or is this something that's been bubbling up for a long time. well i think of the basic level it's really been bubbling up since the global financial crisis because of course that's when we started to see central banks expand their balance sheet conducted constantly easing and really this is a story of 2 stories there's the negative real interest rate story and there is the general deep basements that fit currency because of central bank balance sheet expansion what's happened during the coded 19 crisis is of c

you brought up before that's where i like some of these juniors and matures not not the majors like barrick and yuma but. i did at the start of the coronavirus people were really concerned about what this would do to the mining industry and of course at the start we saw a lot of mine closures and i myself thought this is really going to hurt the mining industry but but look at the miners now look at that she has look at the g x j they really turned it around and you mentioned energy prices and that's a key component we're seeing you know energy prices down by over 20 percent. and that's a huge part of the miners' expenses so they have a lot more cash flow and how most miners are operating with an all in sustaining cost as a cost that it takes to get the metal out of the ground with about $800.00 on the bold front about 15 right now with a silver mine or so and $800.00 all in sustaining cost and now are over $900.00 you can see how all of a sudden gold miners coffers are filling up so the net there are really really good position here right they've spent 8 years earning that bear market gett

gold: that was barrick president ceo mark resto.mments from cross-border capital which kind of reflect what mark bristow was saying. it $3000 anes may ounce. given where real rates are in their potential to fall further, 3000uickly could we get to gold if that is your forecast? forecasting 3000. obviously, the covid situation has limited the minors ability. his see the market for gold trading. the actual delivery of gold has been stagnant. iners have been less able to deliver physical gold to the market. you have seen beth hedging a full production has slowed down. over the next few months, you mininge more decrease ability. you will see a glut in supply, very similar to how oil behaves. we could see tangible production , maybe 10%, 20% in gold without changing the overall bull run. given that gold has been the key go to against currency ,epreciation or huey -- or qe if the fed does not change their ing, if inflation target we maintain a very dovish fed, we should see gold make highs over the next few months. i do not think it will

that would be my point. >> barrick gold ceo mark bristow.mulus talks stall with democrats and republicans still nowhere near middle ground. we will have the latest. ♪ >> let's get a quick check of the latest high lines -- headlines. raiseairlines looking to half $1 billion. travel upheaval from the covid-19 crisis. enter globe has approved the share placement institutional investors. indigo reported a $386 million loss for the june quarter with the carriers net worth falling by almost a half. ray inhalers -- ride hailers are being forced to convert california drivers from independent contractors to as thees in an argument industry struggles with the coronavirus fallout that has undermined ridesharing. sydney airport is looking to raise 2 million dollars with just over 1.4 u.s. to mitigate the fallout from the coronavirus. the company is offering stock at a 15% discount. the money will be used to cover debt securities and for general purposes including capital expenditures. president trump aims to keep stimulus flowing with republicans and de

the barrick from gold ceo mark bristow. and a record year for retail investing. the no trading app robinhood is outrunning its rivals. retail investors piling into the market. we have a bifurcated equity market today with the s&p 500 up .2%. the dow is up almost 1% thanks to the likes of boeing. .3%.asdaq is down microsoft down half a percent. several stocks rallying big, mgm resorts up 13% after the onlinestake for gaming portion. twitter is up as well. they are in the mix to buy tiktok's u.s. operations. action overump took the weekend to extend economic aid, diverting disaster money to boost unemployment and payroll taxes for some workers. executiven what to orders mean for the markets and the population, we are joined by wealthwise financial ceo loreen gilbert. what thoughts come into your head when you see these executive orders that may or may not even go into effect? for investors, it gives us a level of comfort that they will be ongoing support for our economy. we know we are not out of the woods yet. for those millions of people who are unemployed, havin

don't miss that conversation on commodities with the barrick gold ceo, mark bristow.markets coming in a little more cautious the last 60 minutes after the announcement from the chinese government in terms of sanctions on 11 american officials, and the other big talking point is going to be around the american stimulus measures, the u.s. esident taking executive action. is that going to be enough? is it going to last long in the for the market to sustain its current leg up? this is bloomberg. ♪ experience the ultimate sports hub. where you can find games, news and highlights. all in one place, right on your tv. the xfinity sports zone. use your voice to search every stat and score. follow the teams you love. and, even get notifications with breaking news alerts and more. with the xfinity sports zone everybody wins. now that's simple, easy, awesome. say xfinity sports zone into your voice remote today. perhaps, isrning, by executive order on hong kong. china will sanction senators rubio and cruz on taiwan, taipei, because beijing, the cabinet offers or makes the first v

, and this does reflect buffett's more skeptical view on the economy, she has voiced, also adding barrickompany. his is a clear play of some skepticism on where the u.s. economy is going for here, francine. francine: thank you so much. dani burger with some of the big stories we have been following today. in the meantime, european stocks are actually fluctuated -- there we go, a guest appearance by tom keene, getting ready because he is joining me shortly. we are seeing light trading on european stocks because it of the month of august. investors focus on travel restrictions and of course a resurgence of covid-19. let's get to the markets if we can't to see exactly what euro-dollar is doing. looking at chinese shares, they are gaining after the central bank boosted liquidity. oil actually rising before an open bus gathering this week. and if you look at europe, airlines, travel agencies and real estate companies with the biggest drags on the stoxx 600 for a while. the dollar also weakening against most of its peers. thati'm also looking at is chinese central banks, the pboc, surprise liqu

we were referring to a primary listing, as barrick gold already has a listing.nks so much. appreciate that. we have a busy week despite the fact that it is mid august. joe biden is expected to announce his vp pick tomorrow -- maybe today, maybe tomorrow. he also earnings from softbank and foxconn. that president mary daly will be speaking. that it is over to your neck of the woods. the u.k. releasing its unemployment numbers. earnings from cisco and tencent, and later in the week, the big event, u.k. gdp. for us it is politics, for you guys it seems to be the underlying economic data. is it worsening? will.t remember the furlough scheme is likely to come to an end soon. there is pressure on the chancellor to deliver more help and assistance for companies and individuals, whether or not he can do that or afford to do that remains to be seen. the sense as we get into the fall, things are likely to get a lot more tricky. to be honest, i think the market will be dominated by any talk of talks between republicans and democrats on some kind of a deal on stimulus. that

josh brown >> i mentioned ego minds last week the other one i bought is barrick.ke this name. >> our apologies to shannon. we had problems with her line and we hope to talk to her later on the show. scott, you have some final trades >> sure. lyft, ly-y-f-tl-y-f-t. i like the final call we're seeing during the show i bought that one during the show >> interesting stuff guys, thank you. we'll keep an eye on what the markets do i know kelly evans is doing that, because she begins "the exchange" right now. >>> thank you, scott hi, everybody, and here's what's ahead of us. the battle over jobless benefits would extending the extra $600 a week help or hinder the economy? with payments of millions of americans hanging in the balance as congress works on a compromise we'll have that debate >>> from 30 bucks to 23, back to 30 bucks again the electric truck maker is ahead as a company tonight >>> a reality check with rates at fresh

the barrick from gold ceo mark bristow. and a record year for retail investing.ing app robinhood is outrunning its rivals. retail investors piling into the market. we have a bifurcated equity market today with the s&p 500 up .2%. the dow is

with respect to the gold where he made a big investment in barrick gold recently, it is reported in hister, $500 million, what he is looking at is about the future environment. when this liquidity that is happening in the marketplace right now, feels so good, it is raising all boats, that is going to come home to roost. so i think that's where he is looking is longer term. if you look at his investments, he is looking longer term. not looking at airlines. they're in play. but they won't be in play in the future is what his thinking is. charles: i mean he is a long-term investor. even at the age of 89, paul. he is sitting on the fact of $130 billion. he won't put it to work. some to danny's point i think he missed amazing opportunities back in march. he is not necessarily that nimble. he hired people that are supposed to be nimble like that. you like the gold idea, don't you? >> you have to unpack everything a little bit. apple was not really a buffett pick. that was deviation to his underlings. his investment team. buffett has had a couple of forays in his career into alternative asset

you just saw him buy 20 million shares of barrick. ubs has a buy on gold. we're continuing to think this rally is going to continue in the gold space, so i would say let's follow the oracle from omaha and let's get some gold. >> this is just speculation, but what if i said to you, it's not warren it's his guys, and a fraction of 1% of the portfolio. would you still be as excited? >> it's definitely warren. >> how do you know there's no way -- >> he's not just letting people go willy-nilly and buying this amount of gold >> it's a gold miner, but yeah, go ahead >> the gold miner, gold, it's all going to do well in this type of environment, and you're seeing that ubs, one of the world's largest banks is saying buy gold every investment bank is saying buy gold there has to be something to it if the smart money is saying get defensive, you got to listen >> we heard the rationale for it we talked about it with rick and others what's going on with the dollar, what's going on with a lot of these asset classes don, just as a final response to that, would you buy gol

has ran up so much so fif you haven't bought it, is it better to buy -- >> i'm a very big fan of barrickan i say that's a shame because the move is so dramatic here. you have a big cap stock up 55% so you buy some and then you hope it comes in and believe me, things come in and zoom could come in, anything can come in. let's go to matt in virginia matt matt hello? sounds like matt may not be there. should we take another caller? all right. why don't we go to bill in new york, bill >> caller: hi, jim boo-yah. >> boo-yah >> caller: jim, my company recently changed its name. the ceo took most of the company private but left this one. what do you think? >> i'd do work on that one you can run but you can't hide ir don't kn i don't know we can do work on that stock it's like -- okay, that, ladies and gentlemen is the conclusion of the lightingeni round. >> announcer: the lightening round is sponsored by t.d. a ameritrade ♪ ♪ ♪ ♪ ♪ >>> what can i say about the upcoming airbnb ipo? it will be a steal i'll tell you why. i hate the cold. wasn't always like that. who doesn't want to go sliding down

classic is the revenue per share for franco nevada is $24 million per employee, they have a royalty on barrick is 600,000 revenue per employee. i want to own high revenue per employee companies. liz: what is the correlation you see between gold and more government stimulus, frank? because they're discussing that right now on capitol hill at the moment. you know we'll see some type of agreement between the republicans and the democrats in the white house but why is gold moving up as the stock market continues to spike higher? we're on the verge of yet another record for the nasdaq. >> don't fight the fed. it is unprecedented trillions of dollars being spent f we go back to 2009, when obama announced in $2,009,700,000,000,000 going -- announced in $2,009,700,000,000,000,000, that is number pushing $10 trillion when it is all finished. what is very different, the g20 finance ministers and central bankers around the world are working together to 20 as much money, currency debaste, to fight covid this is world war iii against something invisible. asset classes like real estate. you see gold go up.

let me bring up the oracle "oraf omaha", jpmorgan, banks, buying barrick gold.h, i know you like the banks. warren buffett sold all of his gold. he didn't have a lot. the financials are one of the three sectors down today. are you still hanging in there with these banks? >> yeah, still hanging in there for sure. the big decision right now is wells fargo. that is a contrarian play. i like bank of america. i really love morgan stanley also. i think you can buy them lower. they certain live can go lower into the third quarter. wouldn't surprise me perhaps even see new lows but it is time to accumulate them. next couple of quarters. stuart: certainly going through 2021, back hatch of 2021 these stocks will soar. we're in it for the long haul. charles: you need to call up warren buffett, talk to him about long-term investing. shah, erin, michael, thank you very much. we'll talk to you again real soon. >>> coming up at 2:45. special guest sean hannity comes on to discuss liberal cities sinking into further chaos and violence. the dnc kicking off their convention tonig

by the way, barrick gold, newmont gold, kinross, some of the names out there higher with sympathy withrrick gold i'll send things back to you >> franco what >> franco-nevada. >> nevada. nevada >> you and i had this conversation. >> i'm going to say nevada. >> it didn't sink in i'm going to say nevada just for you. >> okay. it's not just for me, it's for nevada it's for the people that live in the state call nevada. thank you. >> thank you good, because that's how you say it joining us now to talk about the market technicals are telling us, katie stockton founder and managing partner of fairlead strategies. i read the first line here, katie, i was excited you say a technical market breakout of the s&p, which we're all watching today because we don't have that far to go, would signal a new long-term up side target of 3775 on the s&p based on a measured move that's about the last positive thing you said in the notes. everything else scares me. so we're over bought from a lot of different metrics can you go over a lot of that? and if we do at this point, we're at the ultimate resistance of

dollars in japanese yen and barrick gold, a classic diversifier. but the other thing that stands out to me, mike, is that it's not the typical buffet crisis playbook buy america, buy some of the most beaten down companies. he sold the airlines and selling the banks which are also out of favor now. that's one of the reasons that i think buyers like bufferest and berkshire hathaway didn't have the opportunity for all that stuff to come their way. and, yes, you have to look elsewhere. so it makes sense o thn that lel i believe. airline sale, as far as we can tell, maybe he took a $3 billion loss on that total he's up $50 billion in apple since the march low. this is a $6 billion bet you have to keep it in perspective. this is stuff around the edges >> all right either way, reading into buffet's moves always interesting. 42 minutes left of trade for the session. and we still got growth outperforming value right now. technology is the best performer in the market. consumer discretionary positive. most stocks are lower on the day. s&p 500 is flat. dow is

susan: after years saying he wouldn't pay to hold gold he is buying half a billion dollars in barrick since june. $147 billion in cash. now wall street is it interpreting the "oracle of omaha"'s holdings, the purchase of gold, holding that much cash means he is not forecasting a quick rebound in the u.s. economy. berkshire hathaway dumping financial holdings. they are selling off a big chunk of buffett along time stake in wells fargo. thing stock is down 40%. pnc, 40%. also making smaller cuts in mastercard and visa. buying bank of america shares in the first few weeks of the third quarter. they own a billion shares in boa. second largest portfolio position. number one holding in buffett's portfolio, apple stock represents 44%. oracle's holdings worth $100 billion. we're five buck as way from a record high or two trillion dollars at least, that has been a pretty good bet for him. ashley: certainly has, susan, thank you very much take a look at the s&p. we're 10 points away from the all-time record intraday high. s&p, 3382. 10 1/2 points we'll say. that is interesting because goldman s