berkshire hathaway's latest disclosures out. the company sold 10.7 million shares to conoco phillips investing in exxon mobile. exxon doesn't like it and when you look at them outperforming exxon over the last five years i wonder what warren buffett is up to, multibillion-dollar investment of exxon means the company now is sixth in berkshire's portfolio where it ranks in what it is investing in. dagen: more on that decision, 23 airmass co-founder to walk away from a $3 billion offer cash money, and kansas turned down the offer from facebook but we might know why they did it. a couple of them say google was brought up for at $12 billion offer and the blondes report google and face coated not the only bidders, starting with china's $0.10 expressing snap chat, $3 billion range.

here's berkshire hathaway, hasn't made a high since august.tself which we think is the entire sector is going to pull the same stunt. it's starting to stall. it is not performing well. here are the visuals. this is the relative chart of the seck tomorrow. underperforming for five months. that's a problem. for what it's worth i'm going to turn to you. market is not cheap. this is a ten year basis, adjusted for inflation. we are basically at the top of a range if you net out 1999 market excess. we're at the top of historical range. that's not a good circumstance. >> that's convincing. i have my own little pen. i figured something out here. you remind me of harold in the purple kran. if you think the actions in the financial is a warning sign for the market, i keep getting the question. people think as we get toward the end of qe and hint to it in december, we could have trouble in the market, maybe financials tells us that. here's a portfolio hedge if you will. the price of options is really low. i think you look to december 31st quarterly optio

now, here's berkshire hathaway, just pulled up light on earnings as you heard.de a high since august. this is not a good look. now, the xlf itself, we think, which is the entire sector, is going to basically pull the same stunt. it's starting to stall. it's not performing well. here are the visuals. this is the relative chart of the s & p sector, relative to the s & p. it's been underperforming for five months. that's a problem. um, and for what it's worth and i'll turn it over to you, the market is not cheap. this is the long term pe. it's a ten year basis. adjusted for inflation. we are basically at the top of a range, if you net out the 1999 bull market excess. we are at the top of the historical range, that's not a good circumstance. >> that's pretty convincing, i have my own little pen here. i just want to say, i figured something out here, you remind me of like harold and that purple crayon. i keep getting this question a lot. people have experienced a lot of nice gains over the last couple years, they are thinking as we get possibly close to the end of qe

the latest round of sec filings shows the berkshire hathaway picked up by new state. he disclosed a $3 billion position. exxon shares are underperforming the market this year up to 7%. the snb has soared more than 25%. lori: breaking news, the cme group confirming that it was a victim of what they are characterizing this cyber intrusion. shares still up. now, four of the biggest banks in the country facing downgrades . moody's facing long-term downgrades. the ratings firm citing lower chances to be bell done in a future crisis. the downgrade could make it more expensive for the banks to find themselves. ashley: food is about to get faster. mcdonald's is adding another window. apparently to just is not enough to keep service beat.

index and doubled the return of warren buffett's berkshire hathaway the studied show. that's a good gain right there for icahn's portfolio. back to you. >> sure is. thanks so much. >>> on-line gambling comes to the garden state. today new jersey regulators giving the green light to six casinos to offer internet gambling state wide. gamblers must be within new jersey. the state joins nevada and delaware as the only states offering internet gambling. the ceo of 888 holdings will be on "closing bell" to talk about his major decision and his company operates several high-profile gambling websites. >> power run down time. with our entrepreneur gary vaynerchuk, one of the popular guys in social media with more than 1 million followers on twitter and ceo of boehner media his book "jab jab jab right hook." gary, states allowing on-line gambling, is this inevitable? is it the next big thing in the gaming business? >> yes. >> yeah?

still, a very large trade made by warren buffett's berkshire hathaway.sibly around $3.7 billion. back over to you. >> big deal there. thank you so much, dom. the stock is up in the extended hours on this 13-f. 40.1 million shares of exxon mobil is what berkshire hathaway has now. cliff, what's your take? i know this is a large company. >> yeah. it's a large company. all i can tell you about that is if warren buffett is obviously one of the best investors we've ever seen. if he's bullish on it, there's likely reason to be bullish on it. >> we're talking about activism. but i also want to get your take on health care. because this is something that you -- you have studied a lot. you're on the board of memorial sloan ketterring. >> this is so exciting. i have been on the board for about 15 years. it's one of the best things that i do. they're doing something with ibm that's transformational. it's going to really change the way health care is delivered. ibm and memorial slope kettering having working together. our doctors having teaching the watson computer

so to me, you know, if you're in them, and you have been in berkshire hathaway forever. good for you. i wouldn't be buying here. >> pops and drops. big movers for the week. we have a pop here. >> look what happened, the china pmi is driving momentum. which was already there and a lot of the mining, cliffs, even steel guys continue to stay in the trade. >> all right. we have a drop for dr horton down 6% on the week. >> tough week in home builder space. we saw rates up again. we know what happened in the spring with home builders and home sales. i'd stay away for a little bit. >> drop for lululemon down 8%. >> i liked it for a while. as it gets back toward $65, i think it gets interesting. it's an extraordinarily volatile stock. i understand if you don't want to foray into it. 65 bucks, there's a chance this makes a push back up to 80 once again. >> ad hoc pop for steve grasso. finally showed up. he made it through traffic, which has been horrendous because of the marathon. he'll join us later on in the show. all right. coming up next, it's time for trade school, ipos with

a beautiful town tucked away from the berkshires.t busy stretch of road is about to get a major facelift fixing sidewalks, replacing trees and repaving the road. just 2 1/2 hours from boston and new york, the downtown there as an active shop local movement. their own currency and plans to kick off the holiday season with a bang on small business saturday. >> i think it's a combination of being a rural lifestyle with some cosmopolitan elements. so there's culture here, there's theater, there's music. there are good restaurants. >> when smithsonian magazine named great barrington, massachusetts, the best small town in america, the retailers on main street knew they played a major role in giving their town the top spot on the list. >> when people come to the berkshires, there are hardily chain stores at all. we've managed to hold them off by having a unique and original environment here. >> we have a really great, eclectic group of businesses. a little bit of something for everyone. >> we have a great community in the locals and out of

. >> when people come to the berkshires, there's hardly any chain stores at all.e've managed to hold them off by having such a unique and original environment here. >> we have a really great, eclectic group of businesses, a little bit of something for everyone. >> we have a great community in the locals and out of towners. >> and that well loved and unique downtown, like many main streets around the country, is about to get a facelift. after many years of heated debate, next year will mark the start of a massive reconstruction project with plans to rip up the roadway and sidewalks and replace the curb, park benches, and trees. no doubt business will not go about as usual. >> it's a complicated issue. i think it's going to be really hard for the town in the short-term. >> it's the kind of project people fear a bit because we're coming out of a tough recession and businesses are just starting to get back on their feet. we've heard in other towns reconstruction projects of this nature have cost anywhere between 20% and 40% of sales, so it's a little bit of a frighten

. >> the berkshires of new england is a place where the offbeat is a way of life. home to a workshop that makes thousands of ukuleles a year, and where the money of choice is not the dollar but something entirely different. >> i think it's great. >> phyllis says she prefers her customers use berkshares. just for the western portion o f massachusetts. it was a way to protect the area from large chain stores. >> you might not choose to go to mcdonald's but a locally owned restaurants. >> at only 25, alice's job is to convince customers to embrace berk shares. 140,000 bills are now in circulation. five banks exchange them and more than 400 businesses accept them across rural towns. >> a lot of people think this sounds crazy. >> i have to remember that sometimes. not like all hippy dippy businesses taking berkshares. they are lawyers and accountants. >> there is an encouragement to get berkshares. 20 dollars get you 20 berkslairs and 1 dollar. >> we're not unhappy to do it. >> the berkshares has even gotten international protection. half million dollar grant to start o

the berkshires of new england is a place where the off beat is away of life.e to a workshop that makes thousands of ukuleles a year and the money of choice is not a dollar. it's something different. phyllis pr prefers that her customers use berkshares instead of the green back. >> we started to develop a relationship. >> launched in 2006 it's a local currency for the berkshire region of the massachusetts. >> it was away to strengthen the local economy and to protect businesses from their chain stores. >> when you have berkshares you may not choose to go to mcdonald, but a local restaurant. alice's job is to convince customers to embrace berkshares. we have local artwork on the back. >> one hundred forty thousand bills are in circulation. and five banks exchange them and 400 businesses accept them across rural towns. >> there are excavators and dentist and lawyers and accountants. there is actually a discount built in the exchange rate. so $20 gets you 20 berkshares an an extra dollar. it's a 5% discount, but it can't hurt businesses when they convert them back

berkshire hathaway admitted, in fact, in an sec filing, no admission there, they always report the this stuff, that they have taken a stake of more than $3 billion in the oil and natural gas company last quarter. it was three years ago on fox business live that buffett's vice chair, charlie munger, told our viewers that he was a huge fan of how exxonmobil is run. in fact, his quote was if the government of the united states were run more like exxonmobil, we'd be in a better position. today sit, and they stew, and they think about, and they have moved on exxonmobil, and the shares, of course, are moving right now. and you can see right there, up $1.67: about a percent gain. sometimes these stakes that buffett takes are gigantic, and you see a big jump, and other times it's sort of, well, we already knew that. age lent technologies is the biggest gainer for the s&p 500. this after they reported better than expected earnings, but we wanted to show you the one-year chart up some 41%. a nice move for that company. let's stay with tech for the moment. got to talk about sony, releasing its bra

. >> i'm jo ling kent with some breaking news on berkshire hathaway.rly 13-s, sc e-filing, they're taking 41 million share stake in exxonmobil. at the same time they're cutting their stake in conocophillips by 44%, to 13.53 million shares. meanwhile cutting their stake in glaxosmithkline by 76.6% so about 345,000. berkshire hathaway also increasing their share stake in davita health care partners to 31.45 million shares from about 15 million shares. liz, dave. david: you know, liz. i misspoke before, solarcity is up 400%. it is up 500% since the first of the year. this stock is just on a role. solarcity today announceing a new partnership. the company is joining forces with bmw to create an exclusive solar service package for bmw-i drivers. that will make it cheaper for bmw drivers to buy the energy through solarcity than the local utility. how do they do it? liz: joining us for fox business exclusive interview, lyndon rive, solarcity ceo and founder. we were you in 2008 when you were small and now you've gone public. you're making a pretty big deal wi

always sort of put this warning out of what these are backward looking but you could always buy berkshireuld have bought iep, which has done incredibly well, carl icahn, of course. >> and the other point they're backward looking but based op the assumption you bought the stocks as soon as it was publicly available they bought them. they're not back dating these things. if you bought the stock as soon as it was disclosed they bought them you can still get this return that's better than the s&p. >> easy for me to say you can buy berkshire, $171,000 a share. >> you could. all right. robert, thanks so much. >> thank you. >> robert frank. let's speaking of billionaires, i don't know what that is? hebe stock is gaining ground but losing an investor. nelson pel -- >> sotheby's. >> all right. >> it red hebe's on the prom ter. >> thank you very much. >> who am i going to? >> i'll jump in. the stock after loeb got involved a lot of talk that stock was going to really take off from there but it's been tigts sigts in this low $50 range. when you look at all the money the guys are bringing in from the

berkshire hathaway just closing the stake in exxon. philips. it turns out that a lot of the shareholders want to do exactly what buffett is doing because we are seeing that exxon is gaining so they have reduced the position by about ten and a half million shares. in the meantime they just closed a new position and exxon that is valued them almost three and a half billion dollars. chump change. ashley: indeed. thank you. well, the latest consol is on store shelves. released just one week away. said lee ever remember. both of these models function as your very own media concierge. the executive director of tac website. he joins me now to break down which system may work best for you. thank you for being here. okay. let's break down. the police station for is relief for the purists. is that true? >> i think so if we are considering the game is the route and a week. ashley: chided is a houston oil. but i huge one on the x box. we have not heard much about it yet. it will attract cameras to microsoft. to your point, i agree. very much a hom

and, according to a recent sec filing-- buffett's berkshire hathaway's list of top ten stocks includes banks. wells fargo is number one on the list followed by , coca-cola, ibm, american express, procter & gamble, walmart, exxon mobile, us bancorp, direct tv, and goldman sachs. ninety-five billion dollars in aircraft orders for boeing.not a bad start for the first day of the dubai air show.boeing's triple-7 x is the sought-after aircraft.but where it'll be built is the subject of our cover story. machinists in washington state rejected a boeing contract to build the triple-7 x, a more fuel-efficient update of boeing's triple-7 airliner. in a devisive vote that pitted job security versus take-aways, machinists weighed. whether having their pensions frozen and time to reach top scale extended from six-years to-16 years...was worth steady work for eight years. in a vote affecting 32-thousand workers-- they told boeing, "no deal." "it was draconian. they went for the whole magilla. they should have negotiated in exchange for job security." the vote has opened a door for other communities e

they tell us how they're trying to get the berkshires community to shop small. we're there, we'll also talk to actress karen alan. you know her from "indiana jones," "animal house." she turned her passion into a small business. i'm j.j. ramberg. remember, we make your business our business. ♪ ♪ you get your coffee here. you get your hair cut here. you find that certain thing you were looking for here,

they tell us how they're trying to get the berkshires community to shop small. we're there, we'll also talk to actress karen alan. you know her from "indiana jones," "animal house." she turned her passion into a small business. i'm j.j. ramberg. remember, we make your business our business. ♪ ♪ you get your coffee here. you get your hair cut here. you find that certain thing you were looking for here, but actually you get so much more. when you shop at these small local businesses, you support all the things that make your community great. the money you spend here, stays here. in this place you call your neighborhood. small business saturday is november 30th. get out and shop small. >>> where will enda end up? >>> the start of this sunday morning in mid-november, we're thinking a lot about rights. the senate passed a bill thursday that would make it illegal to fire someone for being gay. whether it will actually become law is an open question, but the roots of this bill go back a lot farther than you might think, more on that in just a moment. democracy means ev

warren buffett's berkshire hathaway revealed a $3 billion stake in exxon.t 40 million shares and exxon is the world's largest publicly traded oil company and it had been up 7% and now it's up another 1 is% this morning. now let's get to capitol hill where marsha blackburn is with us from tennessee. the fred upton bill goes up for vote today. can you give me an estimate of how many democrats would vote for it? we heard rich edson say 35, which adds up to a sizable democrat revolt. what say you? >> yes, yes, it does. i think that you're looking at 25 to 35. it's a number of democrats who are going to cross and vote for the bill. i mean, they're hearing from their constituents, like all the rest of us are. people are livid with the way this rollout transpired. stuart: is this fred upton bill, in my opinion, guts obamacare because it would take a whole lot of people out of the exchange system, that would mean far fewer people in the exchange insurance pools and that's not good for obamacare. i mean, that's my reading of it and yet, you've got 25, 35 democrats s

the berkshires adopted their own money called berkshares. >> when you have berkshares you might not go to a mcdonald's but a local restaurant. >> you walk into the five banks in the coined give them, say, $19, and get 20 berkshares. now to your reaction on facebook pamela says i'm proud to be a berkshares user, buying local and keeping the cash local. marco says it looks like currently. you can read more at the website, are ldges.com. >> bills of dollars on her ball intlements every year, but an alarming study says you may not be getting what you are paying for. >>> could a soap opera about soccer calm tensions in kenya? >> you might not be getting what you paid for and in some cases what you are getting might be outright dangerous. in a recent study published in the open access medical joirnl, a staggering amount of herbal supplements on the market may be miss labeled, contaminated or missing their main ingredients. does the study show results more dire? john dial and from awfnts austi, texas, mark blumenthal. the editor in chief of herbal gram and herb clip. shocking acclimation. the

the berkshires adopted their own money called berkshares. >> when you have berkshares you might not go to a mcdonald's but a local restaurant. >> you walk into the five banks in the coined give them, say, $19, and get 20 berkshares. now to your reaction on facebook pamela says i'm proud to be a berkshares user, buying local and keeping the cash local. marco says it looks like currently. you can read more at the website, are ldges.com. >> bills of dollars on her ball intlements every year, but an alarming study says you may not be getting what you are paying for. >>> could a soap opera about soccer calm tensions in kenya? so many money stories sound complicated. but don't worry. i'm here to take the fear out of finance. every night on my show i break down confusing financial speak and make it real. >> start with one issue education... gun control... the gap between rich and poor... job creation... climate change... tax cuts... the economy... iran... healthcare... it goes on and on... ad guests on all sides of the debate. and a host willing to ask the tough questions and you'll get... th

berkshire hathaway increasing its stake in a dialysis company. nicole: showing the confidence. at the moment. up arrows. now owns over 35 million shares. they bought new 3.7 million shares after they reported their earnings and the earnings have to say the latest quarter were somewhat mixed. it is a company that does over 2000 clinics nationwide. here is the tenure chart. if you held onto this one over a period of time you have seen a nice run-up. 65 and change back in may, but a nice long term chart and the confidence and backing of berkshire hathaway. connell: nicole petallides. dagen: janet yellen will be on capitol hill to defend the federal reserve superduper easy monetary policy. holding confirmation hearings to determine whether she will or will not replace ben bernanke as the fed chief. connell: our next guest has concerns, for managing director at bain capital joined us so many times to talk about mitt romney. we're happy to have a new subject. why should we be concerned about janet yellen? >> it has a significant positive impact on the economy and the other is it has

one and the berkshire county militia and the other is part of the fourth massachusetts regiment.the shadows of world war ii, and and the dawn of the cold war, when some at home hoped the united states would turn inward, churchill looked outward again and across the atlantic. he traveled to the heartland of our country to a tiny college in fulton, missouri and he spoke of america's awe-inspiring accountability to the future. with so many challenges, all across the world today, struggles to be one, pandemics to be defeated, history yet to be defined, churchill can be heard once again at this dust -- with this bust for all of us to define our time in a manner befitting of a country that still stands, as he said then, at the pinnacle of power. that went essential british subject and statesman upon whom president kennedy, as we learned from the speaker, conferred american citizenship, help define the relationship, the special relationship between the united states and the united kingdom. more than that, he understood that even the greatest patriots are not just citizens of their own c

financial services, bank of america, berkshire hathaway, jpmorgan, they're all lower including morgan stanley as well. obviously it is not everybody getting hammered here. >> the banks were up earlier today, but now that you have down arrows. liz: thanks to peter, steve and of course lauren simonetti. the guys elbow deep in trades right now. from the cme group, the new york stock exchange, in chicago we saw some interesting reaction with treasuries and the dollar, what is the chatter as to why the move was as dramatic as it was? >> there was one comment there could be tapering so far this year but the real reason is stocks have been exactly what they were on the central banks. basically a very rubbish chairman, a good testimony, so going forward there will be no tapering anytime soon. are they usin losing the abilit? up 7 or 8 basis points on the fed minutes. if the fed doesn't do anything and interest rates stay under control, that is fine. if it starts pushing 3%, the question goes down to the fed lose control of the long end of the curve? liz: i have to say this really shouldn't ch

berkshire's move. because -- but, you know, i'm sure warren knows what's going on when almost $4 billion. but it's one of those -- it's a very liquid stock and it's a lot of money, but not a lot for a $400 billion company or whatever exxon is at this point. but it's sort of so solid and so blue chip and, you know, they're going to keep finding oil and gas and we're going to keep buying it from them and running things. and it's just like a buffett -- you know, you don't have to be too -- you don't have to think about it too much. how many ice scars can be find? he tries and goes all over the globe. reminds me of ibm. but i don't know, it seems like it's maybe a better move than ibm, more of a no-brainer almost. i like what yellen said, too. just one comment about that. she said we will continue to ensure a robust recovery with our actions. it's like the one you've been able to orchestrate for the past three or four years. now i know that -- >> arguing counterfactual. >> the counterfactual is there, but

berkshire hathaway owns around 40 million shares in the oil giant worth $3.4 billion at the end of septembersoros disclosed a new stake in chevron. he reduced stakes in jcpenney and google. take a look at those stocks. exxon mobil up 2.2% in frankfurt. microsoft up 0.5%. jcpenney up 1.5% and google up 0.5%. >>> and dan loeb revealed earlier this week that he's investing in fedex. a piling shows a stake in the package delivery giant worth $270 million. loeb took new stakes in activision and nokia. ackman slashed his stake in procter & gamble. he bought in last year and successfully pushed for change with p&g ousting the ceo bob donald. fedex, activision blizzard both up. nokia down. my director is teasing me for saying blizzard. >>> still to come on the show, brazil has weathered the storm in emerging markets better than most, but is the outlook set to be better than rival mexico? we'll compare their growth stories and the investment opportunities when we come back. as we do so, you can see right now on the european equities, it's a pretty even steven session. advancers just about outpacing d

i think it is something the specially when charlie monger, a vice chair of berkshire hathaway says honor that it is rat poison, people could be getting sucked into something of a virtual currencies, no one knows who invented it. there's a limit and is done by algorithms, very shadowy but interesting. >> if it continues to rise exponentially as it has people are rubbing their eyes because they don't even believe it is true. when it first came about, you have to wonder what it was and i got to tell you, a lot of guys on wall street not looking at bitcoin but real companies. happy thanksgiving to all the traders. tell everybody at the nymex and the cme, thanks so much. closing bell raining in 15 minutes. coming up, worries of the wealthy. retake a look at what is keeping up the country's million shares at night. the answer from peer malloop with a billion dollars in assets under management, standing by, number one on baron's annual list of top 100 independent advisor is. peter will tell us what advice he is giving his high network clients about the top five worries that have right now. it i

the berkshires adopted their own money called berkshares. >> when you have berkshares you might not go to a mcdonald's but a local restaurant. >> you walk into the five banks in the coined give them, say, $19, and get 20 berkshares. now to your reaction on facebook pamela says i'm proud to be a berkshares user, buying local and keeping the cash local. marco says it looks like currently. you can read more at the website, are ldges.com. >> bills of dollars on her ball intlements every year, but an alarming study says you may not be getting what you are paying for. >>> could a soap opera about soccer calm tensions in kenya? tblwhere directly or is targeted towards you specifically, they may not consider it abuse. they may consider it offensive. and in that case they just recommend that you block that person. >> i don't want to minimise this, because i mean, there's some really horrible things that are on line, and it's not - it's not just twitter, what has happened through social media and the anonymity of the net is that you see websites, hate-filled websites targetting all sorts of grou

berkshire hathaway numbers are expected after the bell. david asman for "after the bell."the month. the situation in l.a., to keep you updated, seems to be all over, pretty much all over. we do see planes leaving lax. so that is a good thing. all the attention what was going on there. you're looking at live shots right now of lax. you see planes on the runway. more than that we've been able to see planes take off. it is movement. it will be a very slow. a lot of delays in lax. no delays at all at nyse where nicole petallides is standing by to give us the latest on very good trading day on wall street except if you were long oil. talk about the way the oil fell, it was over 2% a couple of times today, how that is affecting energy stocks, nicole. >> it is interesting because they're not always directly correlated. in this case you saw oil the commodity itself dropping almost 2% but energy stocks themselves were somewhat mixed. exxon was slightly to the upside going into the close. chevron and conocophillips were pulling back. not as dramatic moves for the stocks themselves.

berkshire hathaway reports after the close. now, as i engz mentioned, chinese factories continue to pick up their pace in october. both the official and the private sether pmis rose to solid export orders. but there's concern that the recoveries are only being stopped by the large companies as the subindex lagged. joining us is louis core, chief chinese economist at rbs. louis, good to see you. thanks for joining us. are we quite happy about the sustainability and the strength of the chinese economy despite the concerns about the housing market and nonperforming loans of chinese banks? >> well, you know, i think china still is facing many issues, both with regard to the short-term outlook, also all these structural issues. but i think if you look at growth and where are we going in the common quarters, i think that growth will, overall, be enough efficiently above the government's own bottom line. that bottom line which is about 7%. >> yeah. so what are you going the look for? what is going to be the most important data for you

at 83, warren buffett says he wants to stick with what he's good at-- running his company, berkshireven the bulk of his fortune to the bill and melinda gates foundation so it can be used to reduce global poverty and disease. as for the other pledgers, they're tackling an impressive array of causes-- unemployment in south africa, early detection and treatment of brain cancer-- and some interests that take on a more political tone: tax reform in california and the national debt. but as bill gates discovered when he left microsoft, going from making money to giving it away isn't always easy. an example of just one of the lessons he's learned-- it doesn't matter how effective a vaccine is; if you don't package and deliver it the right way, it will not do any good. i guess there's a learning process, too. >> melinda gates: absolutely. >> rose: because you feel like, "how do you do this even if you're inclined to do it?" >> bill gates: it's almost disconcerting to switch to an area where you're back at square zero a little bit. and the measurements aren't quite the same as in the business

we highlighted last night berkshire hathaway and 13-f filings had taken a big position in exxonmobil.was yesterday. just today the fda -- or the epa pulls back on ethanol mandates. what does exxon do? it popped. it's up 2% today. warren buffett has done it again. >> yeah. >> good for him. >> by the way, like you said, in is probably done during the debt ceiling. already wea've seen a big move n some of those stocks since then. i think what you said is really interesting. i'd like to get your thought on that, carol. the fact that larry is just back from keynoting this hedge fund conference and he's hearing hedge funds are going all in right now, particularly those playing catch-up, are we going to see this kind of catch-up and melt-up till year end and into 2014? does that get you concerned in any way that hedge funds, some of these guys, are actually alienating their usual way of investing and going all in because they miss so much of it? >> right. well, i think hedge funds haven't been hedge funds and not been hedging for a long time, maria. it is, to me, sort of a neon sign. while i

the famed investor, whose--whose biographies are snapped up by everyone trying to figure out how berkshire hathaway made all its billions. he's the man who, probably more than anyone else--i think at this point, he's either the wealthiest man or the second wealthiest man, but probably more than anyone else is--is the sage of--of modern investing. and his son, howard, was assistant to the chairman, dwayne andreas. and in this story, in this event that takes place in the book, there was a--there was a--a point where they were discussing going to a chicago bears game, dick durbin and howard buffett. now whether a request was actually made or not is not quite clear. it is clear that there was a belief that a request was made. and adm and howard buffett was--was--was warned by a secretary, 'well, this--this this kind of thing, you know, might--might violate some--some ethics rules.' and so they went and had a lawyer look into it, and--and the lawyer came back and said, 'well, it's fine as long as the congressman pays for half of it.' and buffett called durbin and said, you know, 'you're really-

conocophillips stake last quarter. >> he does get a lot of time to build up those positions at berkshiresent obama's health care. the ceo of ehealth will join us after the break. in a world that's changing faster than ever, we believe outshining the competition tomorrow requires challenging your business inside and out today. at cognizant, we help forward-looking companies run better and run different - to give your customers every reason to keep looking for you. so if you're ready to see opportunities and see them through, we say: let's get to work. because the future belongs to those who challenge the present. ♪ can't find a better way >>> president obama meeting with health care ceos today to discuss how to fix the roll-out of healthcare.gov. another online health insurance exchange is ehealth. the president and ceo of ehealth is gary lauer. >> good morning. >> how long is it going to get this thing right in your opinion? >> i don't know. they're going to get it working. the question is going to be how effectively does it work? we're at the point here where enrollment is critically imp

they have them in the berkshires, massachusetts. anything can be a currency.in the digital realm, there is nothing stopping us from having -- i am holding my hand up like this all the time because i am picturing on your mobile phone what is essentially a rainbow of different currency options to make payments at a merchant or online, depending on which currency, for which transaction, makes the most sense for you as a consumer in that particular moment. host: i was just thinking, that sounds very complicated. that future of deciding which currency to use based on what you are buying. guest: yes and no. 10 years ago my default mode was to picture a cash register. you would be crazy to think that it would be yen, euros, dollars, pesos, etc.. you are going to provide correct change in all of these? how would you be able to convert the proper exchange rate in that time and place? but mobile ubiquity in your pocket, you have these computers that can do all of this convergence on the fly. the idea is to present to people the obvious value proposition. an example that

them in the berkshires, massachusetts. anything can be a currency.he digital realm, there is nothing stopping us from having -- i am holding my hand up like this all the time because i am picturing on your mobile phone what is essentially a rainbow of different currency options to make payments at a merchant or online, depending on which which transaction, makes the most sense for you as a consumer in that particular moment. host: i was just thinking, that sounds very complicated. that future of deciding which currency to use the side -- based on what you are buying. yes and no. 10 years ago my default mode was to picture a cash register. you would be crazy to think that it would be yen, euros, dollars, pesos, etc.. you are going to provide correct change in all of these? convertd you be able to the proper exchange rate in that time and place? yourobile ubiquity in pocket, you have these computers that can do all of this convergence on the fly. present to people the obvious value proposition. an example that i like to use, it sounds cutesy on the sur

berkshire also revealed that recently reduced its investments in rival oil company con co phillips by>> d.n.a. tests are the strongest physical evidence in rape cases, but houses of kids are often put in storage untested. prosecutors in detroit be trying to reopen unsolved cases and say they are running low on money. >> over 11,000 untested rape kits, some dating back two decades. for years, the kits hospitals used collected dust inside this old detroit police storage facility. >> i was surprised, but i wasn't completely shocked. >> wayne county prosecutor kim worthy made the discovery during a tour of the warehouse back in 2009. >> so there was nothing else to do but pursue it with, and make sure that at least at some point in these victims' lives that we get justice for what happened to them, five, 10, 15, 25 years ago. >> fighting these cases comes at a cost. without county funding, the office depends on donations and grants to test these abandoned rape kits. money is running out and resources thin. >> the fact that i now have to have fundraisers to source this office is what we ha

remember, davita a company that's a favorite of warren buffett berkshire hathaway that owns 15% of outstandingrm demographic play. >>> target's getting heat for redesigning its website days before black friday. they spent years moving it to a minimalist excite. now it shows more products on the home page. people took to twitter to criticize the new design. a couple tweets. i like the website, says one good who was able to register on healthcare.gov. what is going on? what happened to target's website? it's like the graphic design intern got drunk and said serifs! everywhere! this is what happens when you let someone in #marketing design a website. >> fonts, you know, people back in the day, used to be about personal handwriting, this day it's about fonts. >> or people on twitter commenting on target. >> in a font of their own. >> amazing how quickly the blowback comes as simple as letters you use. >> i'm not sure it's a terrible thing for target. we're all talking about it. if you wanted to promote your website ahead of black fridays. there are better ways. >> putting more product on there's g

chairman and ceo of berkshire hathaway warren buffett. co-owner of sweet potato sensations, s.b.he republican governor of michigan, rick snyder. we should note goldman is a partial sponsor of our show today. lloyd, i want to start with you. we were with you for new york, new orleans, chicago and then new york again. this concept is spreading across the country. tell us about this partnership with detroit now. >> this is our 17th city. we'rology out th-- we're rollin this program. it's a mini mba program. we teach skills, provide mentorship, we provide structure, we go through business planning. we provide in many cases capital for their businesses, important things we're selecting people who have already engaged in business and need a little bit of a help to get over the hump in order to grow their businesses and make more revenue and hire more people. >> governor, i would love to ask you because right now detroit is in such a period of transition. there's also a great deal of need there. how does this program fit into some of the plans in detroit to bring the city back from the

on today's agenda, we have quarterly results before the bell and after the bell, berkshire hathaway willumbers. analysts will pay attention to how much the government shutdown impacted auto sales. and apple's new ipad air goes on sale. . it is the thinner and fastest ipad today. at&t extent one to us on set. andrew, it's in thebly lighter. >> noticeably lighter. i know it was 1.4 pounds and now it's 1 pound. >> that doesn't sound like a big different, but when you hold it in your hand, it is. >> and also it's still smaller. >> if you stick knit your purse or briefcase or something, lights light per. >> and the screen is better. >> i don't know if it's better, the screen -- >> it doesn't seem any smaller. same size screen. >> i'm diagnosing it. are you going to get one? >> no. i can't really tell. >> you can't really tell? are you kidding me. >> yeah. the weight has never been -- i have it in a case and i put like a -- >> but you don't bring it with you everywhere. >> no, i don't. >> for me, if i'm sticking it in my purse, it's a big deal. >> you need like six devices. you need one with a