. >> we get a first view on berkshire hathaway figures. we'll speak to a man who knows all there is to know about warren buffett. >> first, toyota made a u-turn back to profitability. japan's biggest automaker announced a stronger than expected $4.5 billion profit. it also ramped up its global production in sales targets. yen pressures remain the biggest threat. toyota says it will stick with its initial earnings forecast for the year. ed, what's your view of toyota now? >> we've been very positive on the auto sector, the japanese auto sector in its entirety for a long time. they really took their medicine quite some years ago as far as learning the lesson that you need to outsource production. they got production facilities in united states, europe, china. the overall view on where the auto industry goes is incredibly bright. we look at indonesia as a benchmark. indonesia is approaching 1 million units per year in car sales. what a fantastic number. the chinese within two to three years will have an economic rebound they could get 25 to 3

let's talk about warren buffett buffett's move raises a red flag a decision by warren buffett's berkshire hathaway to end a large wager on the municipal bond market is deepening questions from some investors about the risks of buying debt issued by cities states and other public entities the omaha nebraska company recently terminated credit default swaps insuring eight point two five billion of municipal debt berkshire's move comes as investors are flooding into municipal debt right well again warren buffett the coward pulling out sucking all these suckers into the debt meredith whitney remember last year said all these missed bull bonds are going to be toast and everyone ridiculed her including c. and b. c. o. merit if you're anti-american you're a bad woman and of course she was dead right and all these biggest problems are going bankrupt and he's been a simple bombs are going to be worthless and warren buffet is retreating but he pays lip service to how great america is it is about all these are on t.v. because he's a duplicitous lying sack of omaha steaks so however when this was anno

is so much debate but the sec filing says berkshire hathaway sold the insurance that pays out on theew bond coming out of illinois florida, california and texas. the back out five years early with the timeline of events you will see when the insurance was sold in the action. their leading half of the trade on the table. cannot unilaterally ease settle ahead of time. some go out through 2054. some say why do you take it now? that is the debate. the market is improvement and california itself some last week the yield is dropping. there is action so maybe it is good but he knows what he is doing. now he has capital to invest elsewhere maybe it is not all doom and gloom. >> he thought he made money. did you know, there romney 10 stocks market cap of of $1 million up over the last 52 weeks? here is the list. up to a hundred 44% land three homebuilders made the list. when our corporation 150% and a d.r. horton up 100 5%. then you have expedia sought the job of 100 7%. private bank corporation up 100 9% hitting fed 2.5 year high. three and again very rich men who joins us now with a fox bus

berkshire hathaway among those revealing stock purchases. what's warren been buying and selling and is it time tore buy or sell gold? >>> you're watching "worldwide exchange." shares chartered rise. >>> the bank of england says rate cuts were not discussed at this month's meeting. >>> wall street heavyweights reveal what they've been buying and selling over the past few months. >>> welcome to the trading day. warren buffett has been busy buying and selling stocks this month. berkshire hathaway has new in phillips 66, and raised stakes in vie acome, wells fargo, j&j, proctor and gamble, u.p.s. and ge. managing $74 billion stock portfolio. i just checked some of those shares as well in trading in frankfurt today, where phillips is u.s. trading down slightly. they're off a little bit. >> tough day for the buffett portfolio. gold back in favor with two big name investors, john paulson and george sorros bought more gld in the skd quarter. that's the second time paulson has added to his gold position since 009. sorros sold stakes in jpm, citigroup

so there are changes in the portfolios of warren buffet and his major holding company, berkshire hathaway. >> very good, next time we see you, you will be at 30 rock, probable. >> the fiscal cliff edging closer every day. i was waiting for it. >> here comes the video, cue it. >> later, we'll be joined live from iowa with the success rate of high-tech seeds aimed at weathering droughts like the one happening right now. >>> plus, shocker, rich kids behaving badly. what they need to do to keep their children from turning into brats so they don't post foess like this on quitter and embarrass everybody about what they're doing with their parents money. this is disgusting. >> shocking. . sometimes investing opportunities are hard to spot. you have to dig a little. fidelity's etf market tracker shows you the big picture on how different asset classes are performing, and it lets you go in for a closer look at areas within a class or sector that may be bucking a larger trend. i'm stephen hett of fidelity investments. the etf market tracker is one more innovative reason serious investors are choosi

you say going to the berkshires is a great spot. >> kripalu is located in the berkshires.f happiness. you'll come away with positive thinking skills, optimism and a renewed perspective and the ability to see things perhaps a little bit differently. yoga and all that good stuff. >> good for your body. >> and one on the west coast? >> there is one located on big sur. 120 acres. >> that is one of the most gorgeous spots on the planet. >> it's incredibly beautiful. there are workshops on specific challenges, no matter what you're dealing with, whether it's grief or creativity, whatever you're dealing with, you can go there and spend time, two to 28 days. a great way to explore these things and come out with a different perspective. >> they are looking so spiritual. frank and i went there and pretended we were meeting for the first time on a date at the bar. >> how sexy is that? >> i like it. >> well, it was 26 years ago. >> what about jamaica. . >> this is definitely more laid-back. jackie's on the reef, $150 a night. you'll stay on the water. there's yoga in the morning. you

well, maybe, berkshire hathaway made a big move out of the sector.nald is here to explain it. >> they wrote insurance. our muni bonds sold by california and texas. he cuts basically his holdings and coverage for these muni bonds. he still has half of them. the question is, did he take a kid? is this a warning sign we will see more defaults? the principle that was borrowed, that is a big deal. you will see here's the timeline of events of what happened because ordinarily traders can carry the paper losses on their balance sheets. the fact that he cut half of it, the other 50% still on berkshire hathaway books could stake a hit. that is the issue. will he take a loss? the muni bond market, though, has been improving. we cannot say either way whether berkshire hathaway taking a loss on this trade. or whether it is a red flag that more defaults are coming. dagen: liz, thank you so much for that. i am glad you are here to explain it all. a look at sports. a new key player, we are talking about buffett. another billionaire key player for manchester united.

roughly up where it's been trading five years ago and a vote of no confidence of warren buffett's berkshirea hathaway. matt berger and with us hans mosesman. hans and craig, thank you. hans, first to you. a good move selling intel by buffett? >> the issue's timing. i think if you look at the lo longer term, probably the right thing to do. i think there's muddied horizons ahead. there's a technology arm of licensing microprocessors that's a virus in the computing world. we like the dividend yield but can't disagree. >> craig, you were billed as the ber of this debate. right? but when i look at it, there's nothing particularly bearish of what you're saying. no one is super bearish on the street of intel. we haven't found a single sell. why do you think that is? tie company's execution has been tremendous. they have advantages in manufacturing and r&d scale. and the company's got a great position in server. are they're highly profitable. stock trades at a nine times pe. hard to be real negative. i would rather be in growthier stocks like a qualcomm that's exposed to iphone 5 and 3g, 4g cellula

the heads of those groups hope to be back at berkshire before too long. >>> prince william county officials are investigating a fire that badly damaged a church in gainesville. flames broke out early this morning at mt. pleasant baptist church at lee highway. the fire started in the back of the church and quickly spread. no one was hurt. fire officials confirm there is extensive damage. >> we had some special glass in specific areas of the building, definitely they're not going to be able to reoccupy the building for a while. the building department will be here to probably placard the building unsafe. then they'll come and board the building up. >> the cause of the fire is under investigation. >>> a fox 5 health alert tonight, sliced apples distributed to fast food and grocery chains across the country are being recalled because of possible listeria contamination. the ready pack apples have been distributed to 36 states and d.c. they have use by dates of july 8th through august 20th. no illnesses have been reported so far. >>> maryland lawmakers vote on a casino bill, what it means for pri

his 82nd birthday thursday, billionaire investor warren buffett pledged another billion dollars of berkshire hathaway b-shares to his three children's charities. >>> well, college football kicks off, gang green finally sees the goal line, and a surprise retirement for a tennis great. >>> plus, baseball's giants kick around their opponent for a third straight game. your early morning sports headlines are straight ahead. >>> isaac's rains will continue right into the holiday weekend, and that holiday weekend forecast is coming up. you're watching "early today." >>> good morning. if you're just waking up, this is "early today." and in sports the washington nationals placed a pitching limit on their ace yesterday in the star right-hander's first full season after undergoing reconstructive elbow surgery. here's nbc's fred roggin with an early look at all your sports headlines. >>> good morning. stephen strasburg is having a career year. his surgically repaired elbow feels better than ever, but that's not good enough for the nationals. they are going to shut him down to protect his elbow, announci

become difficult to separate nature from berkshire because of these in our mental factors. the other thing that is interesting is music manifests itself in some way different ways. not all composers can blame their instruments very well. and not all instrumentalists compose, and there are for rangers that do not play or compose. you would not say that they are not musical. then you have all of these people who are musical experts, disk jockeys, film supervisors, and they have what we would call musical sensitivity, but it manifests itself in so many different ways, the hunt for a gene is complicated by that. if you are looking for a gene that might give you blond hair, that manifests itself in different ways, but more less is blond hair. musicality is 10 or 12 different things. and to become a great musician requires different personalities. you have to be willing to sit in a room off for hours on end practicing, that kind of willpower, and you have to have a belief in yourself, certainly, for the first few years of musical training, it does not sound very good. you have to

corporate earnings big companies coming out with their figures today including warren buffett's berkshire hathaway rising five tenths of a percent and that was as their profit beat projections that was one of the biggest gainers so far in the session so let's have a look at the actual figures speak for themselves as they normally do with the dow jones i have a half a percent opposed to terror to the nasdaq nearly three quarters of a stand in the black the fowl will be watching this test. now it's going to go to europe because they're now and trying to do the session and they all still rising. say over half a percent the dax edging towards one percent opposed to territory and that sigs then doing a full month high amounts off to greece and the creditors agreed on the need to strengthen policy efforts and it's ready to support growth investors that liking the sound of it also as well they all considering the likelihood of formally requesting financial aid in the coming days that's what we're anticipating so figure that what's its response right now it's recently resumed its upward trend the

what makes us unique in the market is that although it is the highest quality ingredients, berkshirehas a fun, unpretentious nature and an excessive price point. our use of ingredients and fun combinations led them to call us the ben and jerry's of chocolate. >> since our launch foif years ago, we have had total sales of $160,000 in 2011. we have national and regional distribution with product place in the over 150 retail stores. we are seeking investment of $500,000 for facility, improvements, equipment and marketing. in return we are offering a 14% return on investment with a possible equity position. >> wow. if it is any indication these people did not only take one bite, but they were eating the whole thing the whole time. so, mo, you are a venture capitalist, you listen to pitches all day long. how did they do? >> i think they did quite well, actually. it was tight, concise, you made your point very clearly. i have a handful of questions i would ask, but i think you did what's really important in a pitch, which is incaps late what it is you do and what it is that's different abo

berkshire hathaway is closely watched by many investors because of his successful track record. >>> leaving las vegas. what is next for that chimpanzee this one that broke out of her home and ran around sin city twice this summer. >>> america's cup preparations are under way in san francisco. but the big race might not be as good for the city as previously thought. >>> welcome back to the county county vat -- ktvu channel 2 morning news. that is the chimpanzee that escaped her enclosure twice and ran around las vegas. she is going to a new home. she will spend her life with seven other primates in oregon. her caretakers were cited for the two escapes. >>> graphic warning labels will soon replace company logos on australian cigarette packs. they have upheld one of the world's toughest tobacco laws. it rejected a challenge by tobacco companies that claims the line infringe on their intellectual property rights. >>> time now 5:23. next week the first of the races leading to next years america's cup will be held in san francisco. while the crews are busy preparing the shoreline, we're learning

. >> first, the park in berkshire. >> very close, only 20 minutes from heathrow.ey even have their own polo grounds where william and harry happened to play recently. kate was waving and cheering them on, which is great. it's a grand hotel with a beautiful georgean style. i love their deep soaking tubs. you can see a view of the rolling hills and lovely vast property. what i love to do is horse back ride. you can go riding there, especially when you know you can follow up with a spa. >> put that one down. next the mag dallen chapter. how long to get here? >> three and a half hours. this is definitely worth it, some of the most beautiful countryside in england. the only county that has two coastlines, north and south. you're going to get incredibly mild climate and seafood. >> looking at those gorgeous rooms. >> a 19th century hospital they have revamped into a gorgeous hotel. it just opened. one of the first people to stay there. a fun inside out pool, you can play indoors or out. bring the kids. >> yes. >> next over to the chewton glen in hampshire. this is a fam

thank you so much for coming to the book often assigned berkshire evening. as a melon or nearly 40 years of business, we are peace here at the book laughter potiphar fiction section. they represent books we've read in the whole ballgame attention from comments. we often ask each other come as to what are you reading? and when told me ask, staff it? may be or, yeah. even though hugh howard and i are best friends are down more than a few beers together over the years and have written many chairlifts side-by-side, doesn't follow that with staff take his excellent new book. i did it because it is in fact an excellent book. more on that in a moment. hugh howard got his book work in a new york for various publishing houses for over 10 years as an architectural historian. he wrote a series of articles for "the new york times" from which became the basis for the first book, preservation of progress. over the ensuing years you've written a dozen books on american architecture, art and history. happily for us, he and his wife as soon as up to columbia county in 1981 w

berkshires investments are watched closely by wall street because if buffett is successful -- [indiscernible] speaking of rich people, it might be nice to have more money than republican presidential hopeful mitt romney no matter your political affiliation. he's worth an estimated quarter of a billion dollars but you don't have to invest like warren buffet to get there. if you're the only person to pick all six of tonight's power ball numbers, you're going to claim a $320 million jackpot. okay. so here's what you need to know. if you take the lump sum option, that's a check for just over $213 million. no one has won this jackpot since june 23. of course power ball played in d.c., maryland, virginia, 41 other states, you know whaim' doing aft show today. maybe i'll go to each individual location and buy a ticket. >> we thought the strategy was let's go somewhere rural and maybe get a better chance. >> fingers crossed for all of us. by that i mean me. >> okay. just in case you don't leave too soon, what do you have for us in the next half-hour? >> you'll need power ball to pay for gas. we'll t

has some insights or a routine he wants to put in place to change the trend of shopping >>mark: berkshireathaway, are there every loser? >> not in my book. this quarter was not their best quarter, are healthy has enough cash to buy a really big elephant as he likes to say. or we will find out in the next couple of days his exact dealings. if you tried to be like michael and basketball, you try and be like warren buffett in investing. anything he does it was considered doing. >>mark: manchester united is probably the most popular soccer clubs, their own by an american family and they're going public? >> this as the u.k. were let. the glazer family who call owns the tampa bay buccaneers, they will sell 10 percent of the company for 333 million to be traded at 95 times and and and six times revenue which is more expensive than the face the guy feel. this is one team you want to watch from afar and did not invest in. it bought the company for 1.4 billion, now they're selling it, not a bad return. >> the company has 10 percent of the world's population liking them. asked >>mark: cash rob flade

. >> do you find it at all odd that warren buffett doesn't pay a dividend with berkshire hathaway?early 2%. wells fargo, 2.6%. i mean, that's across the board. all the stocks that this guy owns pay dividends, but he doesn't pay one. >> he seems to be rather bullish on america itself when you look at the portfolio. it's rather defensive. wells fargo has bailed him out this year. the purchase of ibm last year, not so good. >> mike? >> a lot of these names have obviously performed very well so far this year. i think if i owned them, i'd probably be sellers. what are some of the names i'm talking about? wal-mart. it's heart to imagine seeing a lot of growth. i'd be a seller of wal-mart. proctor and gamble, kraft, same story. these are defensive stocks. that's why they've done well. i wouldn't want to continue to be in them. >> mike, thank you very much. meantime a stock that has jumped 200% in the past -- >> no. >> yes n the past decade. and an internet game that opened up a box of gains. how to move today ice big traders when we come back. at merrill lynch, we understand the importanc

. >> you cover home builders and berkshire hathaway saw an increase in the last quarter.s it opening up opportunity for investors? we have already seen -- you have to start looking also at valuation. >> we do. they had a nice little pullback here in the last couple of weeks. i think this is actually a really opportune time to get in. if we look at the second-quarter earnings, we actually saw order growth rates accelerate from my levels in the first quarter. almost every single builder showed acceleration in order growth almost every builder showed increased gross margins. stocks still underperformed. there was bottom fishing in other sectors during this earnings. i think this is schoolly a good time to go in and pick up some of these stocks that pulled back in the last couple of weeks. >> what about all that pent-up demand. demand, does that mean single side of the market will be taking off soon and associated names, whether homebuilders or home improvement -- will see a boom either way? >> i think when you look at the 62 million generation echo boomers 17 to 31 today, i

berkshire raised stakes in vie acome, ibm and wells fargo and reduced positions in j&j, proctor and gamble, kraft, u.p.s. and ge. >> a lot of people getting out of kraft, by the way. >> they'll rule the day, he sold ge. gold getting its groove back with two big name investors. john paulson and george soros bought more of etf or gld in the second quarter. first time paulson has added to his gold position since losing in 2009. among other -- that wasn't in the script. he has -- that has been his -- not a good position for paulson. i mean, you know, future -- after that great year with -- during the financial crisis it's been tough a couple years. gold was not one. >> gold did not work. >> do you feel like we're in the dog days -- i feel like we're in the dog days of august. >> you think we hit that? did you see the market yesterday? >> you don't tell the viewers we're in the dog days of anything. >> the viewers that are still here are die hards. >> because of -- the rest are on vacation? >> they're in the persistent -- >> there's nothing. if there's -- there's no one in europe. actually, it'

berkshire results did beat wall street estimates and he's still bullish on housing.ou can see it and detect it amongst the holdings. >> teva is under investigation over the compliance with u.s. anti-bribery laws. it says it's cooperating with the probe and doing its own internal investigation into its business practices. >>> july's better than expected jobs report has done little to unify forecasts on where the u.s. economy goes from here. steve liesman is here. did the mud puppies play? >> we played twice but not last night. i got a little sleep after. >> did you confine it to a beer? >> that's all i do is one beer a set. >> i've seen you at the office parties we've thrown at the past, remember? >> one time eight years ago i had two drinks and this is the essence of your personality, joe, you never let a learn live it down. it was like two vodkas. >> after being in russia so many years in. >> thought he was still there. >> i'm immune. >> you're spilling stuff on him. they never forgot that i don't think. you were so happy when comcast bought us. >> i was so i could

and berkshire collected $1.86 billion in investment flk which includes the b of a dividend.s warrants could still fall out of the money if those b of a shares dropped but his gains at least on paper look pretty good so far. not bad for an idea that just comes to you in the bathtub, right. >> as he has said. only warren can get some of these kinds of deals. thanks so much. kayla tausche at hq. >>> keeping the focus on the banks after the run up is now th to book profits? want to join paul miller this morning, managing director and head of financial institutions research over at fbr in arlington. welcome back. >> thank you. >> let's talk b of a since talking about buffet, nice gain, but doesn't sound like you're too much of a fan of the stock overall? >> no. i always go back to that point, they still have a lot of liability es special list with the gses and private label side that has to go through the court system. it's really difficult to analyze what the overall liability of all these bad loans that really countrywide did years ago. we're still on the sidelines. there has b

markets will look for the likes of warren buffett and berkshire hathaway.n's war chest is expected to show a loss. >> still us with, alec young, global equity strategist. as we turn to the u.s. trading session, and start to head into retail earnings season, where do you like -- how does that sector stack up compared to the performance across the rest of the index? >> certainly consumer discretionary houses retail stocks, and consumer discretionary sector one of the strongest year-to-date. overweight that sector throughout the entire year. downgraded it to neutral about a month ago. replaced it with energy, and since then, energy done much better. given a lot of concerns about the consumer, we think there are better places to make cyclical bets. drop in oil prices led analysts to slash earnings forecast for the energy space. we think it's a cyclical area, where the expectations are realistic and we can get over that lower bar. there may be expectations a little too high for some of the retailers and consumer discretionary more broadly. we prefer energy or te

>> i played at the berkshire hathaway meeting.e? if i play you, i'm going to need it. well, i didn't have a big paddle in hand but i still decided to give it a shot. >> let's go. >> don't be too hard on me. oh no. are you laughing at me? >> no, i'm not. >> yes, you are. >> i may not have what it takes but ariel has brought hope to a somewhat unknown sport. she plans to come back with a vengeance in 2016. well, based on the way all of you are playing today, i thought why not bring you a paddle you can actually use. savannah. >> have some faith, jenna. >> i've seen you. >> thank you. >> exactly. >> table tennis. ariel is here. matt has already been a little competitive here. that can be yours. >> you, too, matt. >> sorry. >> that was a good one. >> oh shoot. >> wait. why don't you play with the paddle. >> don't hit the people, savannah. >> i'm sorry. i didn't know my own power. >> back in there. >> all right. >> shoot, i'm terrible. >> get in here. >> yeah. >> go, al. >> i'm your backstop. thank you. >> matt middle of the table, al.

you say going to the berkshires. >> kripalu is located in the berkshires. it's beautiful.y. yoga and all that good stuff. >> good for your body. >> and one on the west coast? >> there is one located on big sur. on 120 acres. >> that is one of the most gorgeous spots on the planet. >> it's incredibly beautiful. their workshops are on specific challenges, whether it's grief or creativity, whatever you're looking for, you can go there and spend time two to 28 days. a great way to explore these things and come out with a different perspective. >> they are looking so spiritual. frank and i went there and pretended we were meeting for the first time on a date at the bar. it was 26 years ago. >> what about jamaica. >> this is more laid back. jackie's on the reef, $150 a night. stay on the water. yoga in the morning. you can unplug. this is where you can do yoga in the morning, nutrition. >> you're so into yoga. >> i think there is a trend here. >> brazil is a good spot. >> if you're looking to feed your inner soul as well as mental soul. you can have an adrenalin-pumping experien

he owns some berkshire hathaway stock, the company founded by warren buffett.n't like the buffett rule. he doesn't like buffett telling people to pay more in taxes. just from tidbits, he's done really well. in the story it's pointed out there's not a paul ryan ticker in there, the ticker is available. if the vp thing doesn't work out. >> a lot of people would be following him. >>> 26 minutes after the hour right now. he admits he's not politically correct. but the congressal candidate once known as joe the plumber, he may have crossed the line this time withomething he said. we'll let you be the judge, coming up. vying for your attention. so we invented a warning you can feel. introducing the all-new cadillac xts. available with a patented safety alert seat. when there's danger you might not see, you're warned by a pulse in the seat. it's technology you won't find in a mercedes e-class. the all-new cadillac xts has arrived, and it's bringing the future forward. the wheels of progress. seems they haven't been moving much lately. but things are starting to turn a

>> you sound the guys like berkshire hathaway. >> would you take the opportunity to ditch it where thedown or would you say i'll keep it and see what happens? >> i'd hold that. >> why would you sell that? unless you want the money. you've been holding this paper money and now you want the cash. >> go buy your mansion right now or half a mansion as it might be. >>> still ahead this morning on "starting point," breaking news on the wikileaks founder julian assange asylum request. there is police action outside of the embassy in london, as london seems to be threatening the ecuadorian embassy. we'll tell you what's happening there. >>> plus, look at this videotape. this little boy gets his head lo lodged in a stone balcony. we'll tell what you happened to him. >> wow. >> that looks like a miserable position to be in. and a man who's known for his strong opinions. the actor steven baldwin will join us and talk politics. the tone of the campaign. he is walking in right now. you're watching "starting point." back in a moment. hatch a design. kill the design. design something totally original

. >> he also likes berkshire. he owns -- >> does he own a fraction of a "b" share. >> likes nike. >> he's a public servant. >> you mentioned his work yesterday. >> p90x. i think we should do it together. >> do you think we should do it together? really? >> potentially. at least we could get the host of p90x to come on and give us a lesson. how about that? >> thank you for the music. ♪ i want to get physical let's get into physical ♪ ♪ let me hear your body talk. >> you would replace one of your pilates class to do this with me? >> pilates or yoga. >> have you seen him with the rolled up yoga thing when he comes in in the morning. >> i can't even touch my toes. >> all right. >> i wish i could touch my toes. >> it's easy. raise your leg like that. look, i can touch them all day long. it's easy. 3 cents above estimates. we'll see what home depot does this morning. an indication, 52. can't tell. >> 52 to 54. great stock. for anyone that's owned it over the past year. i did see something, andrew. i thought about it. yo

municipal bond market and raises a lot of questions perhaps it's not as safe as we assumed when berkshirecking out in trades in that way. >> one of the things we have to recognize over the last several weeks and months, we have seen a sharp breakdown in correlation. what does that mean? all asset classes and securities within an asset class were moving together. something we have seen clearly in the stock market and your coverage shows this very very well. different stocks are now moving in different directions. one of the things we're seeing as well in the fixed income market is that good investors, the ones who can do the analysis on underlying issuer and underwriter are making these distinctions between different securities. >> so in answer to my question, do you think we should be concerned within munis states or multip manipula municipalities won't be able to pay their bills? >> what i said was it depends who the issue r is. we think there are quite a few very good credits out there as very good credits in the corporate bond market. >> let me ask you about your most recent note being

looking at third-party certification or more sustainable products, governments are huge in the berkshire met. as governments get more involved in these things, they will see efficiencies involved, and they would begin to see where regulations may be needed or where you would want to level the playing field. there are interesting interesting -- into place right now. we are trying to figure out in dieppe buys -- we are trying to figure out -- india buys more palm oil, and indonesia is cutting down forests to produce it. how can we work with india? it is a different structure. we hit on the idea of companies going to government, there is a 7% tariff on palm oil,. the question is would they be willing to cut that in half for oil.fied palm why should an unsustainable products cost less? they should actually cost more because they cost the planet's more. they are subsidized by nature. >> i think that is where government leadership is necessary, and that is the test. it is an unrealistic request to ask a political leader, particularly an elected leader, and we see the same challenges in china,

his berkshire dividend has not been verified to this day -- birth certificate has not been verified to not from the state of hawaii. he really don't even belong in the chair he is holding because he has not been proven to be a citizen. >> florida, henry is on for democrats. >> i would just like to say that we have to get a better than this. we're supposed to be a country of the land of the free and the braves. the democrats and republicans have to stop going at one another. we should have a better way and a better system of figuring out who we want to vote for. it should not be what this one is doing and how bad that one is. president barack obama is the president and we must respect that. we should go added a better way. this is crazy. all we're doing is getting lied to. we want to hear more positive things. not what this one is not doing that and i am better than hand. -- him. knowing how to be better people. love and not hate. every four years to eight years when it is time to reelect a new president, all we get is hate speeches and hate crimes. all of them are lying to us. the poor