berkshire hathaway vice chairman just announcing at the annual meeting of daily journal that berkshireted greg able as warren buffet's successor as berkshire's ceo when buffet steps down or can no longer continue in the role. munger saying able is a tremendous learning machine and successful as a business leader and berkshire is lucky to have him. greg able, canadian, chairman and ceo right now of berkshire hathaway and vice chairman since 2018 and went to university of alberta. there you go, warren buffet's successor and it's official and berkshire's stock is in the red right now almost 1%. the a shares are and b shares down about 0.7%. precious metals miner bera gold is taking a dip and stock down 4% despite the gold and copper producer beating the streets estimates in the fourth quarter. barrick plans to boost production and fund its $1 billion share buy back plan over the next year. bring in barrick gold president and ceo mark bristo. mark, welcome to the program. >> thank you, cheryl. thank you very much. cheryl: let's talk about this. it's been a little bit of a rough ride but in

andrew bary is looking inside the berkshire hathaway portfolio.he's holding onto and what he is selling off, next. ♪ inner voice (kombucha brewer): if i just stare at these payroll forms... my business' payroll taxes will calculate themselves. right? uhh...nope. intuit quickbooks helps you manage your payroll taxes, cheers! with 100% accurate tax calculations guaranteed. it's easy to get lost in investment research. introducing j.p. morgan personal advisors. -hey david connect with an advisor to create your personalized plan. -let's find the right investments for your goals okay, great. j.p. morgan wealth management. i screwed up. mhm. okay, great. i got us t-mobile home internet. now cell phone users have priority over us. and your marriage survived that? you can almost feel the drag when people walk by with their phones. oh i can't hear you... you're froze-- ladies, please! you put it on airplane mode when you pass our house. i was trying to work. we're workin' it too. yeah! work it girl! woo! i want to hear you say it out loud. well, i could sw

you have strength in groups like communication services, paramount leading the charge there, berkshire hathaway upping its stake in that name, utilities, industrials, materials and technology those are all your sectors in the green. what's not working today, energy, real estate and financials the ten-year treasury yield up 3.8% check out the biggest earnings movers roblox, analog devices jumping on results while devon energy pulls back coming up on the show today we will talk to national retail federation president matt shay about the retail sales why he says cpi isn't the best measure of inflation >>> and later a rare conversation with sam zell everything from the state of the economy to real estate, the fed, and much more. >>> first senior market commentator mike santoli joins us what are you watching? >> the interday strength, sara, continues to be the strength not dramatic index moves if you look at where we sit in the 4130s, exactly where we essentially closed the week before last. it's been a week and a half of sideways digestion, that 7% gain in january has basically been held the more a

haidi: warren buffett's berkshire hathaway reported mixed results, underscoring fears the u.s.s facing a bumpy road ahead. but spring and sue keenan with the latest. despite earnings, some businesses saw key demand. su: this does support a lot of concerns there are rough economic headwinds heading our way. this was despite operating earnings reaching a record for the past year of $30.8 billion. the billionaires annual letter to berkshire hathaway, releasing results over the weekend, was nonetheless optimistic and reminded investors to keep the faith in america's economy, championing long-term investing, they saw a 14 percent decline in the fourth quarter and despite seeing weaker demand in some units, citing higher materials, freight and labor cost, buffet set i have yet to see a time when it's safe to make a long-term bet against america. he took issue with recent criticism on share buybacks after the biden administration recently proposed quadrupling the levy on them. buffett wrote when you were told all repurchases are harmful and particular beneficial to ceos, you are liste

berkshire hathaway has been doing some buying and selling recently. what do you make of that? he sold most of taiwan semiconductor which was only purchased in the third quarter. turnover in verizon stock, bank stocks. his investment -- they manage 10% of the portfolio, they trade more actively than he does and they may be behind these moves. jack otter: paramount mobile out-of-favor, berkshire is doubling down. free cash flow is negative at the moment. is it valuation, takeover potential? buffett might be a huge evis and butthead fan? andrew: it is a $2 billion holding for berkshire, traffic in the bigger stock. i think they see this is a turnaround story that will get more rational and cut costs. the 10 year low is a good value now. kristin:berkshire has done well in energy investments. what the latest in that sector? andrew: berkshire has not bought much but $40 billion of occidental petroleum and chevron, 10% holding, i estimate buffett is up $10 billion on this right now. ben: i love the geico gecko commercials but you don't see them anymore. andrew: the gecko has disappea

. >>> we will take a quick break berkshire hathaway selling a very large chunk of its stake in one bigk what the committee thinks of that move, what it means for the broader chip space, if anything. and during february we celebrate black heritage to the stories of some of our cnbc teammates and contributors >>> when i think about black history month, the name that comes to mind is reginald lewis. he was so inspirational in my career and getting me excited to go out and conquer the world of finance. and the work we're doing here i hope will empower others or at least inspire others to go create generational wealth ♪ ♪ luxury exemplified. innovation electrified. with apple music seamlessly integrated. the all-new, all-electric eqs suv from mercedes-benz. see your dealer for exceptional offers on mercedes-benz electric vehicles. doors can lead us toward what's important. your dedicated fidelity advisor can help you open those doors. by working with you on a retirement-income plan designed to balance growth and guaranteed income. because doors were meant to be opened. ♪ ♪ ♪ ♪ ♪ ♪♪ we all h

i i think if you go back and read the 50th anniversary letter from berkshire hathaway and reading warn's meter, you'll feel very comfortable with berkshire after warren buffett and charlie munger. it feels like it could have been written yesterday. it'll be a strong company with a strong culture, and greg abel's going to keep the culture. liz: any company that owns see's chocolates, how can you go against that, right? it's great to see you, steven, thank you for joining us. >> nice to see you. liz: shareholder steven to be check who bought shares at 25 grand and they now are $460,000. >>> speaking of buybacks, goldman sachs announcing a $30 billion buyback, what will see you david solomon be telling the street? charlie already has it. he's about to break it next, so you can't miss that. closing bell, 13 minutes away. we are on the move here. dow gaining back just a bit of those losses, now up 66 points. ♪ ♪ ♪ limu emu & doug ♪ hey, man. nice pace! clearly, you're a safe driver. you could save hundreds for safe driving with liberty mutual. they customize your car insurance so you only p

shery: berkshire hathaway reporting mixed results underscoring fears the u.s. faces a bumpy road. su keenan the latest. some key business us all week demand. su: railroads and insurance saw week demand and slipped in earnings supporting concerns 2023 will really be rough for many companies. it also took a little wind out of the big victory the conglomerate reported record operating earnings of $30.8 billion for the year. that said, the billionaire's annual letter to berkshire hathaway shareholders released along its full-year earnings resorts -- results over the weekend was mostly optimistic, reminding investors to keep faith in america's economy. for weakness in the conglomerate saw 14% decline in operating earnings in the fourth quarter. it cited higher materials cost, freight cost, labor cost. the warren buffett said, i have yet to see a time when it made sense to make a long-term bet against america. buffett took issue in his shareholder letter with recent criticism on share buybacks after the biden administration proposed recently that we should quadruple

economy after berkshire hathaway reported weaker results in some of its key businesses.ated earnings fell 14% as higher prices hit his railroad and insurance units. he says it is -- he said he is yet to see a time when it is right to make you long-term bet against america. asml and u.s. government are said to be investigating potential links between a former employee accused of data theft and the chinese government. the suspect has been accused of having ties with a chinese agency. rishaad: seeing a bit of a mixed bag overall. we are headed down. we have this halting u.s. interest rates and the hot inflation read. the pce which sent the nasdaq and s&p to the worst week since december. the one in focus has two months highs against its american counterpart. david: do we have some movers up? probably doing it later. coming up msci capital rejoining to talk us through the regulatory environment. then harbor will be talking us through the readthrough as far as tech as the tech sector is hi, i'm katie, i've lost 110 pounds on golo in just over a year. golo is different than ot

taiwan semi, lower and berkshire hathaway lower its stake. >> they cut its stake on the semiconductor by 86% as of q4. that means ending december of last year so quite a shift in tone since berkshire bought 60 million new shares in q3 making its one of its top ten holdings but not the case for q4. often we see these in and out of a hedge fund less common from berkshire hathaway the stock reacting down 3.7% right now. but volume is relatively light >> well, kristina, thank you, kristina partsinevelos dan, would you make a similar poff >> i think it's interesting to see that movement from a company -- >> back to trader. fast money. >> not known to have their finger on the pulse and nailed apple and a huge thing for him but i will say this, this goes to what i might have said about the market, our market is not priced for a geopolitical event. when you think about how things got heyware in the start of 2022 is when russia started to roll into ukraine and all inflationary things in 2021 went haywire. think about on a magnitude, if things are dialing up with china and there is some sort of

warren buffett's berkshire berkshire hathaway now owns 238 million shares.o come out after the bell. we will get you that, of course, tomorrow and give you all the information. buffett and company also ache thing a 50 million share stake the of kroger, a nearly 10% stake in allied financial as well. he now to owns 915 million shares of apple, that's up from 894.8 million shares reported in the company's 13f filing of third quarter holdings. is here we go, all three names are moving lower there. let's look at activision blizzard. buffett if had announced during his annual shareholder meeting he had taken a personal stake in activision blizzard. buffett if has also, on behalf of berkshire hathaway, ache then a pretty significant take -- taken a pretty significant stake, now at 6.7%. it's moving higher by a quarter of a percent right now. and airbnb set to unveil earnings after the bell today. travel command returning to pre-pandemic level, so some analysts believe this will help boost bookings. however, some investors are concerned with more workers returning

stuart: start with berkshire hathaway please.y report a whopping great loss over the weekend? >> look at the stock it's a $463,000 stock but warren buffett, berkshire hathaway lost almost $23 billion but he says, in his annual letter, that that is 100% misleading, because these are paper losses because of the worst stock market we've seen since the financial crisis, also throw in higher rates and inflation hurting some of the bottom line at some of the companies, but, he says, if you look at the operating earnings, which is the actual income that these companies make from running their businesses, selling stock, berkshire earned a record $31 billion last year, and that means that buffett grew his cash pile to almost $125 billion in cold, hard cash so he has dry powder to buy more companies if he thinks it's cheap. now berkshire bought back around $8 billion in stock and uses letters to take aim at democratic lawmakers for instance elizabeth warren and president biden, and he says that those have been critical of companies using t

>>> welcome back, berkshire hathaway released its report over the weekend berkshire reported a loss ofthe company was impacted by $67.9 billion in investment and contract derivative losses that accounting rules require. those have been numbers that even when they're up charlie hmonger and warren buffett don't pay attention to that. revenue was up, operate earnings rose to a record $30.8 billion berkshire hathaway as warren buffett pointed out is now the biggest shareholder in eight s&p 500 companies. american express, bank of america, chevron, coca-cola, hewlett-packard, moody's, and paramount global buffett pointed out in his letter that berkshire hathaway ergonomic and burlington northern santa fe would be s&p 500 companies as well. all of those companies earn more than $3 billion annually that's something that only 128 of the s&p 500 companies do. one of the things that buffett pushed back on in his letter was criticism of share buybacks. he said when you are told that all repurchases are harmful to shareholders or to the country or particularly beneficial to ceos, you are listening

berkshire hathaway is the larges largest sure holder of the common shares as of the end of last year. >> is it almost half of the company? if this weren't such a saga over the last couple years maybe people would be quicker to ride alongside berkshire here >> i think it's a great point. >> yes, to pippa's point, in the last one year it's up about 50%. investors have been doing the hokey pokey inside of growth and value, but what has been a theme that continues to connect with investors? it's energy. so if you look at a name like xnl and it's one-tenth the size of exxon and it's mostly double the s&p 500 and there is risk reward, and warren buffett, and i'm pretty sure warren has a track record and that's a fortifying reason to own, but if you look at the chart here, it makes a ton of sense and support here at $55 and the ability of a short-term price target, kelly, 75 bucks. >> so is the hokey pokey a good thing? >> a lot of people have been trying to figure out growth value and nonetheless, energy, occi was almost left for dead and it's the comeback kid and i don't know if you have t

. >>> coming up berkshire hathaway's charlie monger has, golly he has some pretty tough words for cryptoght he was angry before. wait until you hear what he has got to say now. genieve roch-decter is here with me. this juggernaut, jerome mart tease is here to discuss that maybe happy for the stock, and investtores. we'll discuss that. ♪ (voya mnemonic.) there are some things that go better...together. hey! like your workplace benefits... and retirement savings. with voya, considering all your financial choices together... can help you be better prepared for unexpected events. for a brighter financial future. thanks. ahh pretzel and mustard... another great combo. (voya mnemonic.) voya. well planned. well invested. well protected. only at vanguard, you're more than just an investor—you're an owner. we got this, babe. that means that your dreams are ours too. and our financial planning tools can help you reach them. that's the value of ownership. ♪ (cheery music) - they get it. they know how it works... and more importantly... it works for them. - i don't have any anxiety about money anymo

economy after berkshire hathaway reported weaker results in some of its key businesses.ng earnings fell 4% in the fourth quarter as higher prices hit this railroad. buffett says he is yet to see a time when it is right to make a long term but against america. that is your bloomberg business flash. >> bet against america and you could be taking a pretty big bet. we have been waiting for dragon endeavor. that launch for now has been scrubbed the kennedy space center, we will update you as soon as we get more on the reasoning why that has happened. if you are a bloomberg subscriber, hop on your terminal, we are on live go. we have all the details. you can listen to mission control. we have a pretty stacked day. the reaction, the first reaction we will bring you to this breaking news, it looks like there may be a deal to the brexit protocol with northern ireland. rachel reeves joined the team. that is in the next hour with anna and her team at 7:25. we will speak to russell hardy. of course, we have this movement in the oil market. we have the flows going and from russia to

warren buffett, one of the world's most successful investors, wrote in his annual letter to berkshire hathawayhat despite inflation, he remains confident about the state of the u.s. economy. adriana? >> michael george, thanks so much. >>> today in east palestine, ohio, health experts with the centers for disease control began a door-to-door canvass of their homes. their arrival comes three weeks after that toxic train derailment. last night people got to voice frustration in front of erin brockovich, a consumer advocate made famous by hollywood. >> reporter: environmental activist erin brockovich told people at a town hall in east palestine to keep calling for the truth. >> every community i've been going to for 30 years, it's the same run-around. >> reporter: since the train derailed on february 3rd and spewed toxic materials, residents have reported an array of new health problems. though authorities say air and municipal water tests have not detected dangerous levels of chemicals. >> they are worried because they've got coughs and respiratory problems. >> reporter: brockovich says this disa

. >> berkshire hathaway reporting the profit fell8% in the final three months of the year to $6.7 billion. for the year, profits were up 12% to just under $31 billion. berkshire bought back8 billion in common stock. warren buffett releasing the annual letter to shareholders. among observe ations were those against buybacks >>> and pfizer is in talks to buy seagen the deal would bolster pfizer cancer treatments. seagen was in talks with merck last year, but they failed to reach a deal >>> and the house is getting ready to hold talks about the train derailment in east palestine, ohio. among the issues how the government supervises large rail companies, frank. >> silvana henao, thank you. >>> back to a very busy trading week ahead with the slew of corporate and economic data on tap. that includes retail and home sales. fear may be making a return back to the market. we are watching the vix rising above 23 last week this as the latest cboe data shows call options betting the vix will rise or trade at the highest rate since march 2020. joining me now is robert schein. great to have you here >>

top ten hold eings after we see the quick moves in and out of the stocks, less common among berkshire hathaway positions. it decreased its exposure to research and dutch equipment maker asml d 1 also dissolved its position in asml. cadence design posted its earnings earlier this week bridgewater associates cut its stakes by 80% in q4 of last year another. lar name among the 13 filings was salesforce with five known activists in the stock you have starboard filings valueact over half a million inclusive cap over 6 million elliott management the sigh of those positions is still unknown. keep in mind 13 filings provide an update on q4 holdings and they may have changed in the past three weeks for cnbc news business i'm kristina partsinevelos. >>> the bust could drive more inactivity this year they have already raised or are in the process of raising $17 billion in this quarter. we have with us the ceo and founder of the company great to have you on the show. 2022 was a year of revaluation for the tech stock community we saw a massive plunge in the nasdaq down 20%. this year things are turning aro

warren buffett's berkshire hathaway reported in unusually quick reversal in his tsmc position for --ndary investor/is holding of the chip giant months after disclosing he has bought a major stake. louis vuitton has named music producer pharrell williams as a new menswear designer filling a role previously held at the late virgil abloh. williams will unveil his debut collection at the pairs of men's fashion week committee after calls from some committee members to step down after earlier guidance that interest rates were unlikely to rise before 2024. >> sometimes the effect associated down to me is a bit unfair because it is the board. there are nine of us including michelle who make these decisions, and we take them collectively. it's not just me making these decisions. there are nine people based on the advice of a large staff. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm alice atkins. this is bloomberg. tom, francine? tom: let's check in on u.k. assets moving on the back of the news

what if they flew over general electric's headquarters, caterpillars headquarters, berkshire hathaway'sdquarters. do they have the defense department? did warren buffett throw a blanket over his hard drive? they got nothing. so i'm not trusting what they were telling us. imagine this happens with trump. imagine the chinese send $6 million to the trump family appear at the chinese send $100 million to the trump center at penn biden center and give junior a few diamonds. and trump lies about it and tries to cover it up and the chinese fly a spy device all over -- and doesn't touch the thing until after it spies on us and shoots it out of the sky. they would impeach in a second. montana has no when living in montana, alaska, even alaska people who would you know how the radius was to pick up this thing that fell into the ocean? 7 miles. you are telling me you can't find a seventh square-mile area in alaska or montaigne to recover this thing? best of my checked, win electronics, they fizzle out. when it lands on land, they survive better. it is almost like joe biden wanted the balloon sack

you have strength in groups like communication services, paramount leading the charge there, berkshire hathaways

berkshire hathaway vice president charlie munger says the u.s.uld follow china's lead and ban cryptocurrencies all together he says they're more like gambling contracts than securities, or currencies. of course, even gambling is regulated. jon? >> contessa, thank you >>> apple shares, meanwhile, moving higher ahead of earnings this afternoon although we're expecting the first revenue decline since 2019 for the tech giant our steve kovach joins us from cupertino with more. steve, you think we're going to get revenue guidance this time >> reporter: we haven't gotten revenue guidance, jon, or any formal guidance from apple since the pandemic began you are right. guidance is going to be important, at least some form of outlook. we know last week -- last quarter, jon, they had such production problems for the iphone in china, which caused them not to be able to hit demand for that important holiday quarter where they typically sell the most phones analyst expectations are all over the map, but expecting up to 10 million fewer iphones sold than origina

kristina >> although we're still awaiting a 13-f filing from berkshire hathaway we have received 13-gings which show any current passive positions above 5% in a certain name we're seeing berkshire reducing its stake by 1%? rigged r n. video game company activision it's not reacting too much right now. then you have increasing a stake by almost 60% in the bank of america mellon leaving berkshire with a much smaller 3.1% stake in the bank. that means they won't have to file in the 13-gs anymore. lastly the third big mover it owns 10% of outstanding shares but keep in mind this is a passive position and hopefully we'll be getting the 13,-f in th coming minutes or hours. >> kristina, thank you let's get to the bond market reaction to this morning's cpi report rick santelli. what do you make of it, rick >> i found it to be pretty much as expected. we didn't match expectation buzz in the end it's never about expectations it's about history. it's about what's in the rearview mirror. and when you consider two-year notes at the high water mark in november, 4.72, still about ten basis points aw

tonight our first inductees i'm going to go through firm berkshire hathaway, alicia knapp if she could stand and going to read through all of them and then will clap for all of you all. from precision cast part steve right morgan o'brien, form energy i'm in a mess this one up. [inaudible] the mountaintop beverage on this and brian joseph impure watercraft. i don't have the name from commercial metals. mettler is not a representative from them but if you could join me, just think, just think every single bit of this is absolutely done think what you have done. think what you have created. you have created our grandchildren's jobs. that's what you have done for you created the fact over and over and over heated and toby wanted to have a picnic. and they went their grandkids to be here. charlotte, or gender, or atlanta. and now, now they're going to be in west virginia. so please, thank you all so much. thank you so, so much. [cheering] [applause] now, just in the last little while tomorrow have come. tlc based in india within the plant that is in marshall county. they're going to spend $

a student of what his writings have been and on and on and on, besides being an investor in berkshire hathawayof buyback activity they've done some. they have put a governor on at what price they'll buy it. i think it was 1.3 times tangible book. they own companies that do huge buybacks like apple and what that functionally does it raises berkshire's shares proportionately. this is why he's defending the buybacks the economic illiterate part is interesting. a case to be made not all buybacks are created equal f. you're doing a buyback to sterilize employee stock option issuance, "a," it doesn't benefit the existing shareholder and, "b," that's probably not the right type of buyback. truthfully, even with a 1% tax on buybacks, it's still a more capital efficiency way to give investors back some of the gains versus the dividend. you're charged a dividend tax rate on a buyback, the individual is. it's double taxation the company does revenue, then they have profit, they get taxed on that profit then they pay in the form eof a dividend and they pay again. hey, we're going to return the same amount

what we call whale watching because the hugely successful and most powerful investors co, this berkshire hathawayute now. people are expecting an increase in occidental. we know he bought more tsmc. on the flip side, we just got bridgewater's 13f filing, bridgewater is the world's largest hedge fund. what i found really interesting is that they tripled their gamestop holdings, they increased their amc holdings by 74%. so this is not just the retail investor buying into these meme stocks. the world's largest hedge fund also buying into these meme names as well and making a lot of money in the process. ashley: fascinating. susan: yeah. they doubled their money. ashley: they are. of. susan: in gamestop. ashley: covered a ton of ground, as always, susan. thank you very much, appreciate that. >>> coming up, health concerns are mounting in east palestine, ohio, after a train derailment released toxic chemicals. listen to this. >> the evacuation order was lifted too early, prematurely, and if you don't have to go back yet, try to stay where you are. >> i was here five minutes, and i have a headache righ

you have berkshire hathaway with a massive stake.y reasonable to look at $149, $150 as an entreey poi. so what you are making the decision on do you want to be overweight or equal weight or underweight? so i'm overweight, and i have been involved with the stock forever and nothing will change that >> maybe some answers tonight. it's apple, amazon i hope everyone joins me at 4:00 eastern. we've got shareholders, experts, dan is with us to break down apple as that all goes down. cannot wait. brynn, set up up here, final trade. >> albamaro. as the world moves to ev, they're all going to need a ton of lithium >> it's a josh brown name from by gone times. final trade? >> exp >> steve weiss [ inaudible >> josh, quick name? >> uber, breaking out. >> good stuff. i'll see everybody in "overtime. "the exchange" with kelly is now. >> hi, everybody here's what is ahead tech stocks are going bonkers again, led by meta and helped by earnings and the fed can the rally keep going when amazon, apple report tonight we have the key things to watch. >>>

this is level for berkshire hathaway stock where warren buffett normally comes in and buys back. investors should take a second look. from a relative standpoint it performed much less than the broader market. charles: yes and of course it is warren buffett. we don't have more time. david, come back soon. >> thanks, brother. thank you. charles: the goal of the show to give you actionable advice to help you make money. on monday jon najarian did it again. uber, february 10 calls, say they had a hell of a pop. jon, tip my hat to you. folks, we'll be right back. ♪ inner voice: (kombucha brewer): when i started my new kombucha business... ... i thought there would be a lot more kombucha... ...and a lot less business. inner voice (graphic designer): as a new small business owner... ...i've learned that trying to be the “cool” boss... ...is a lot harder when you're actually the “stressed” boss. inner voice (furniture maker): i know everything about my new furniture business. well, everything except... ...the whole “business” part. not anymore. with quickbooks, you can confidently manage

berkshire hathaway is the second largest shareholder. they own 10% of the stock. largest shareholder is the ceo, gary friedman who owns 14% of the stock. >> hathat is true not sure if we know it's warren within berkshire years and years ago they also owned pier one anthony, it's good to talk to you. thank you very much. >> thanks for having me. >>> tyson foods sliding today after missing earnings estimates largely tied to a drop in beef prices and falling pork sales volumes. tyson's ceo blamed market dynamics and some operational inefficiencies for the hit to profit tyson also reduced its full-year operating margins. michael avery of piper sandler joins me now he has a hold rating and a $65 price target on tyson. michael, it seems like we're caught in a tough spot, at least in the most recent period where there was some trade down in customers not really paying up in terms of pricing and then they're still saddled with some elevated costs is that going to persist what's the outlook from here now that the market seems to be kind of turning ton this story? >> touche

berkshire hathaway has actually increased his stake in apple.ven that he already owns $100 plus. apple makes up 40% of his portfolio, he is the single largest investor in the world's biggest company, but apparently that went up. also increasing his occidental ownership to 28% of the oil company. and here was a surprise because everyone talks about the death of linear television, paramount global which owns cbs got a buffett thumbs up. he increased his stake in paramount global, also added to louisiana pacific cutting -- and this was the surprise cut -- he cut his tsmc which is that taiwan semiconductor, that chip stock in taiwan that mix all the chips that go into iphones and ipads, he cut that by almost 90% to end last year, but he only bought it in the fall. remember you've heard warren buffett say he is a long-term investor, but if he's cutting in three months' time, what does that say about his confidence in tsmc? ashley: by the way, we got a look at the owner of the carolina pan netter's playbook -- panthers' playbook. susan: there's certai

sector overall, still the second cheapest in the index, and i think valuations matter you take berkshire hathawayut of there, even cheaper, right? banks, on the other hand, even cheaper than the financial sector broadly so seems like a good entry point. i would caution people that this is a time frame issue too, though if what i think is going to happen, and the consumer kind of hits the skids, banks are probably also going to hit the skids. however, that's the entry point. so if we see some stress in financials, in banks, i think that financials and other sectors like materials, industrials, would probably lead us back out of this, because as we know the sectors we go into a peak in the market are rarely the ones that lead you out of a trough >> sometimes first in is sometimes first out. joe, beyond the consumer, how do you think about the economy in general, if we have a recession or ot. as long as you have those questions hanging over bank stocks, what does it mean? because if you have in the back of your mind to be worried about credit risk should something get dislocated, you know where i'm

business knights and tonight our first inductees -- and i'm going to go through, you know, from berkshire hathawayand if she can stand, i'm going to read through all of them and then we're gonna clap for alicia and all y'all. from precision castparts, steve wright, from hope gas, morgan o'brien, from form energy, mateo and i am going to mess this one up -- jamarillo. ok. from mountaintop beverage, jeff sokal, from omnis, richard kingan, from veloxint, brian joseph, from pure watercraft, dennis frioni. from commercial metals, i don't have -- i don't have the name from commercial metals. from papier-mettler, and there's not a representative from them and from klÖckner, and there's not a representative from them. but if you could join me, just think, just think, when every single bit of this absolutely is done, think what you have done. think what you have created. forevermore you have created our grandchildren's jobs. that's what you have done. you have created the fact that over and over and over edith and toby wanted to have a picnic and they want their grandkids to be here. and they're in charlot

berkshire hathaway i want to talk to you about that ubs says it's trading at a 20% discount what do you think of this? you've owned it for a long time now. >> well, remember that buffett and munger kind of gave guidance as far as when they would do a share buyback. that's the only way they would return capital to shareholders they're not a big buyback story but talked about 1.3 times tangible book or something i don't know if that's still in force. they have bought back a lot of stock the last couple of years and they probably could be buying here. berkshire has two units worth discussing really quickly. burlington northern, the railroad, double digit revenue growth year over year for six straight quarters going back to june of '21. the same thing on the insurance side six straight quarters of double digit growth there so this is, i think, an undervalued stock. i'm in it. i've been in it for a long time. >> foot locker initiated buy today, 55 bucks. you own that, right? >> this is a real challenge for me because what this upgrade says is basically you have a catalyst with this great new

the answer, william howard taft in 1910. >>> charlie munger, berkshire hathaway vice chair and dailyreholder questions for about two and a half hours yesterday at the daily journal annual meeting we got the chance to watch this and ask him a lot of these questions. one of charlie's great observations over time is that whatever you are, age and money make you more so well, munger is 99 years old now, he's always been blunt, he's always been truthful, and he's even more so now. every single question he answers honestly, even when it comes to talking about his own mistakes >> we live in a world of misdecision, that's what we get to cope with in our days of life i don't expect the world to be free of folly and mistakes and so forth i just hope people have more good judgment than bad judgment. i don't know anybody who is right all the time >> but charlie munger is pretty sure he's not wrong when it comes to cryptocurrency, which he thinks should be banned now, he answered a question that came in from a shareholder, a clever question. the shareholder said, back at usc, many years ago, you

volume last week and there is a lot of rumor, nobody knows if it's true yet, that actually berkshire hathawayying more of that i do think this is something you want to look at, when there are dips like this, i do still see this as a temporary dip. i think longer term this year, just the short-term, two month down, i don't think you want to extrapolate that out to 2023 >> i think energy was the common thread across all the trader acronyms for 2023, guy >> mojo. oih is one of the os, and occi is the other one you get my drift evercore, somebody downgraded the stock to underperform, but $60 price target, it's basically trading $60 now. look at the name, though, o xy $58 has held a number of times it's not a valuation story it just comes down to whether or not you believe operationally they can get things done, which i do, and clearly, warren buffett does as well i think they report on the 27th. i think there's some catalysts in store i don't think the energy trade is over. the commodity is challenged, but i don't think the energy trade is over by any stretch, and the nat gas reversal, carter bra

, but they ain't no berkshire hathaway.y're undervalued, they don't seem to care take it or leave it. fortunately, the businesses are worth a lot. unfortunately, advertising is really horrendous for everybody, but they're not going to say that, you know why because they're better than you and me we don't have to -- you know they're like private companies we're fans, and we want to ask the coach something, and they say, well, you're fans take a hike. that's where we are as shareholders and it's unfortunate. >> the gloves have already come off and it's only 8:54 we're going to see you at 9:00 a.m >> people think there's no inflation. they're fictional. >> on "squawk on the street. >> i'm tired of fiction. >> this is just a warm-up act for jim. we'll see him in just a couple minutes. see you in a bit "squawk" coming right back ble, its possibilities are endless. from paying your people from anywhere to supporting your talent everywhere, we use data driven insights to design hr solutions and services to help businesses of all s

. >> berkshire hathaway, horrible. >> guys, i got to hit some of the m&a takeover stuff >> i was waitingthis >> i got a long list here. >> the life storage. where you been >> i'm right next to you i'm right here, just waiting for my moment. >> okay, newcrest. >> i don't know where to start do you see this story? >> higher multiple >> i mention it because right behind us, that stock is up 22%. purely a bloomberg story that says, overtures, has expressed takeover interest in the contract manufacturer. i have a note here as well, from -- who's it from? rbc saying, in their view, makes sense. longer term, we don't know whether this is the best use of m&a capital for danaher. they question its ability to compete with thermo. but they say they can do the deal, and they think the stock, at least originally, what's been trading at ten times ebitda, overly discounts a number of setbacks they have had i have nothing to add on that bloomberg story. >> remember, danahern is getting rid of its water purification system this was a spinoff of cardinal, then went into private equity. they spun it again

. >> so what do you say when charlie munger, berkshire hathaway, publishes an op-ed in the "wall street quote, unquote, crypto currency is not a commodity or currency, it's a gambling contract with a nearly 100% edge for the house entered into a country where contracts are regulated only by states that compete in laxity and, obviously, the u.s. should now enact new federal law that prevents this from happening >> well, his criticism of crypto aren't totally off they're a 10,000 crypto tokens which are gambling and i sympathize with them on that matter charlie and the other critics, they're members of the western elite continually prodded for an opinion on bitcoin and they haven't had the time to study it if he was a business leader in south america or africa or asia, and he spent 100 hours studying the problem, he would be more bullish on bitcoin than i am lebanon, argentina, sri lanka, venezuela and nigeria, there's no solution better than bitcoin. i really think that, you know, the western he elites, they haven't had the time to study it, but i've never really met someone with an ince

a programming note for you charlie munger, berkshire hathaway's vice chair, also an investor and boardeaking at that company's annual shareholder meeting, streaming exclusively on cnbc.com next week, february 15th, at 1:00 p.m. eastern time. and guess what you can ask mr. munger questions too. if you are interested, just send an email to dailyjournalquestions@cnbc.com we will ask as many of those questions as we can. he recently wrote an op-ed at cryptocurrency that was pretty interesting. charlie's had a lot of takes on a lot of different things, but this is your chance to ask questions too. just go ahead and send them into that address >> never one to hold back, mr. munger >>> our next guest says we are in economic purgatory. i want to bring in emily rollins. i know what the word "purgatory" means, but explain it. >> well, it means we're essentially stuck in a late cycle environment. on one hand, you have this blowout jobs report last week. you've got initial claims coming in still under 200,000 this morning. the ism services data, huge bounce last week, but you have the leading data

he corners nathanson and one of his calls is is paramount to be acquired by berkshire hathaway?he day ahead because we have a guest in the studio we want to get too quickly. futures are unchanged on the s&p 500. yields are coming in a couple of basis points after pushing high yesterday. lisa: to build on what you're talking about around the head scratching rally intact, how much is this inflation ahead fake? the data that we will get to speak to that, the ppi in addition to the jobless claims and on the housing side you're seeing optimism with lower mortgage rates briefly. ppi, how much this inflation are we seeing in goods especially as we see the likes of used car prices to go back up today? european central bank speak are getting in on it too. the bundesbank president come the ecb executive board member, everyone is really taking a look at the two-year yield. i go back to what he said at berenberg, that even with less accommodation with central banks, stocks can still keep rallying but perhaps bonds are having a tougher time on the front and giving you that kind of yield. the