munger was a major influence on buffett from the time they first met, helping berkshire hathaway grow into a million billion dollar conglomerate. munger, however, didn't limit himself to just berkshire. he was chairman of wesco financial from 1984 until 2011, when i was totally asimulated into berkshire. during those years, he was known for his dead pan humor and straight-shooting style. after wesco, munger moved the show and his growing collection of fans to another company, where he remained chairman. the daily journal. >> charlie? >> yeah. >> one of my favorite lines from you is, you want to hire the guy with the iq of 130 that thinks it's 120 and the guy with an iq 150 that thinks is just 170 -- >> you must been thinking about elon musk. >> he brought his brilistering one-liners to berkshire hathaway, too. >> i needed to compete against idiots, and luckily, there's a large supply. professional traders, they go into trading crypto-currencies, it's -- it's just disgusting. it's like somebody else is t trading turds, and you decide, i can't be left out. >> charlie is big on lowers ex

does it change your view of the company he helped change and build, berkshire hathaway?customers are investors? >> not at all. in fact, we think charlie munger set the company up for this exact circumstance. what he did mirrors a lot of what our members do, sitting on cash reserves and patiently waiting for investment opportunities, and we think he was, as you said, a legend. he also was very focused on succession and legacy and we anticipate he built that legacy and things will continue as they were. >> as you mentioned, many of your members of r360, many of t them centi millionaires. how has it informed your investment decisions and the decisions of the group? >> well, charlie munger said it takes character to sit with all that cash and do nothing, and that is exactly the investment philosophy of our group. they want to wait until they find the right investment as opposed to just chasing mediocre opportunities. so charlie munger led the way and our members followed that philosophy completely. he also, i have to say, connected with our member on multiple levels. he was

. ♪ >> >> berkshire hathaway has reported for the third quarter.ap started feeling the effects of its cash pile hitting a fresh record. really interesting dynamics coming out of berkshire hathaway. charlie rose joins me here onset. beat on those operating charges. something warren buffett almost pays a little extra attention to. how? when marge's is everywhere else seem to be shrinking? questec is a really good question and it comes down to insurance. the last quarter in 2022, we would -- we saw other companies in this huge umbrella struggling. because there were so many catastrophic ones, they seems to really improve their. they did really good things for operating income. quick speaking of the extra margin, i will extra cash. you think i would be deployed. they're not quite there yet. >> it seems like berkshire hathaway has a lot of cash that they don't seem to know what to do with. there doesn't seem to be a lot of opportunities for this famous value investor. charlie munger, the right-hand man at berkshire hathaway did a recent interview saying

berkshire hathaway has announced the death of long time chairman charles munger.was 99 years old. warren buffett said his inspiration, wisdom and par e i guess the paition helped shape its life. for anyone unfamiliar what was so special about charlie munger that made him warren buffett's right hand man? >> he really was an architect. also in shaping this firm and taking it from the moment that he and warren buffett met at a chance encounter in omaha in 1959 to one of the most successful conglomerates in american economic history. what he really did here is sort of helped shape warren buffett's thinking moving him beyond looking for cheap companies to looking for wonderful companies at fair prices. that steered this firm's investment from investing in see's kan candy to am and coca-cola. lizzy: he in his own words had a lot of groupies. what were the other principles that made him rich? >> what people really valued about munger was his ability to talk straight and say it like it was. he literally could look the man, one of the greatest investors of all time in the

the key take is from berkshire hathaway's earnings and the results that came out on saturday. annabelle in hong kong with a look at berkshire and be sure to tune in to bloomberg radio to hear more from the day's they newsmakers and get in-depth analysis. we are about costing -- we are broadcasting live in hong kong and on bloombergradio.com. plenty more ahead. this is bloomberg. ♪ haidi: wesco will back $180 million of its own shares as strength in mortgages lift. linda skim on the bank earnings. it is the buyback, super interesting, it was a bit on expectations in many ways. >> i think that is fair, broad results are positive in the sense that we have had the follow-through of hiking that dividend, looking at goldman sachs expecting 70 australian cents for that increase. we i-72 on the final dividend. -- we got 72 on the final dividend. for the buyback. they want to make a statement here that they have enough on the balance sheet to be able to continue to deliver back to shareholders. it is quite interesting commentary and cost position continuing that kind of long crisis. we

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helping berkshire hathaway grow into a multibillion dollar conglomerate that owns dairy queen, geico,t limit himself to just berkshire. he was chairman of west co financial. during those years, he was known for his dead pan humor and straight shooting style at shareholder meetings where he interacted at length with his investors. after west co, he moved the show and his growing collection of fans to another company where he remained chairman. a daily journal. >> charlie. >> yeah. >> one of my favorite lines from you is you want to hire the guy with the iq of 130 that thinks it is 120 and the guy with the iq of 150 who thinks it is 170 will just kill you. >> you must be thinking of elon musk. >> he bought his blistering one-liners to the annual meetings too. >> i needed to get ahead, it was me against idiots and luckily there is a large supply. >> professional traders that go into trading cryptocurrencies, it's just disgusting. like somebody else's trading turds and you decide i can't be left out. >> charlie's big on lowering expectations. >> absolutely. >> that's the way i got married

berkshire hathaway has announced the death of charles monger who was 99 your soul.help develop the investment powerhouse. we know that he never rivaled buffett in terms of worldwide celebrity, but he had his own personality and character that got him his own cult following. what did he bring to this company? >> i think he pushed buffett, he challenged him intellectually. he was an early investor in byd in china. buffett now has huge stakes in japanese companies. there were some element of intellectual prowess that monger brought to the operation that pushed buffett to what he could be. haidi: he had his own what he called groupies, a pretty firm fan base. what was he like as a person and how did he deal with all that attention? >> in some ways he kind of enjoyed it. they both brought thousands of fans to omaha every year to omaha, but munger drew a big crowd to los angeles where he was chairman of that board. it speaks to his abilities to attract a lot of followers. he pushed the envelope and really spoke his mind. he wasn't afraid to call bitcoin noxious poison. he

charlie munger, the vice chairman alongside warren buffett at the american conglomerate berkshire hathawayinvesting legend who had amassed a net worth of about $2.3—billion—dollars. in a statement, mr buffett said berkshire hathaway could not have been built to its present status without charlie's inspiration, wisdom and participation. mr munger was 99 years old. to news about the environment now... a bbc investigation finds that toxic pollutants released during gas flaring pose a lot more risks to people than previously feared. flaring is the burning of waste gas during oil drilling — and the united arab emirates had banned the routine use of it 20 years ago. but satellite images show it is continuing. that's posing more questions about the effectiveness of the cop28 un climate conference hosted by the uae, a major oil and gas producer, as sarah colenbrander from the 0di think tank told me. this is a new mechanism under the claimant regime, where countries have to come together every five years to assess their process under global climate goals. where fettered for our first review which h

in 1962, the two men began investing in berkshire hathaway, a massachusetts company that made men's suitthe mills close, berkshire stuck around as the corporate vehicle for growing conglomerate of companies, focusing on businesses with strong brands and pricing power, munger urged him to acquiring see's candies in 1962. that inspired a $1 billion investment in coca-cola stock 15 years later. he and buffett -- he was known for his roles a straight man, he often curbed buffett's enthusiasm and he jokingly referred to him as the abominable no man. for many years, he was more bullish than buffet when it came to investing in china. his purchases of stock in chinese automaker byd resulted in berkshire becoming that company's largest shareholder. even as his partner became a worldwide celebrity known for , and wide as the oracle of omaha, munger's success without -- would outlast buffett's star power. i don't think anybody is essential, given the momentum we now have in place. >> he did not overstate his importance either. there were two senior executives affirming the company's commitment to a

forward here for berkshire hathaway, what is their best use of mounds of cash? on of size. size makes it harder to outperform. they have the best probability of our performing any company their size but their size will matter. one of my professors, i asked him how would you manage a big fund and he said i would index the court and manage the periphery. i would imagine they would have to move in the direction of something like that although they will not give up on our performance. tom: howard marks, thank you in remembrance of charlie munger. howard: thank you for having me on in such an important moment. tom: it reminds me of the death of john templeton when abby joseph cohen stepped up in the common theme is the short termism we have fought for years. there has to be a long-term perspective particularly when you look at the failure of the retirement system. quickly here we have to look at the data. s&p up .5%. lisa: i wonder if charlie munger were growing up in today's market private markets would have a different environment than public markets because of the

buffett and berkshire hathaway. i didn't expect the younger investor to be scared off by markets trending down. the 20 to 40-year-olds, when has there not been a v-shaped recovery? when has the fed not come to the rescue during their inentire investment life? >> it is jarring for anybody of any age but certainly when your income level is lower because you're younger and don't have that much saved up, it can be more traumatic and you think, well, in the pandemic making money in the stock market was easy. it went straight up from the day they put the bazooka of money in the market. >> where money did come out of the market, you've not seen that over the last 15 years, really. the fed has ridden to the rescue. i want to be careful how i say this. uninformed about what a massive tightening cycle can do and the delays we're seeing. have you ever seen rates go so low? >> i would suggest the most seasoned and successful investors, some of the greatest ever got a lot of this wrong. >> that's where the miscalculation was. if

berkshire hathaway's charlie munger dies at the age of 99. >>> well, good morning again to "street signs," everybody. let's get caught up on how markets are faring. we did have another positive day with the s&p after some comments from federal rye serve officials, raising hopes that the fed is done raising. it could come in close to around march of next year. we saw a sharp pullback in the hang seng. what we're seeing in the stoxx 600 is a lot of green on the heat map behind me. we are focusing very much on the inflation data that's coming through. i'll get that in a second. generally the big theme is the inflation trends, the preliminary ones coming out of german states and the headline is coming in lower than expectations. so that's propelling the market. let's get into the indices this morning. this is what we're seeing this morning. the ohm red we have is the ftse 300. standard charter, hcbc at the bottom. today it's treating up ataround 5%. so another negative day for the ftse 100 after yesterday's performance and the bank of england's governor andrew bailey continues to say it's no

charlie munger, berkshire hathaway's vice chair, has died at the age of 99. he played a key role in the company's rise, building berkshire into an investment power house. buffet said -- >> here's a look at munger's legacy. charlie munger was best known as warren buffett's right hand man. their investing partnership dating back decades. >> every time i'm with charlie, i have a new idea that causes me to rethink certain things. we've had absolutely -- we have had so much fun in the partnership of the years. >> it's been almost hilarious, it's been so much fun. >> reporter: buffet credits him with teaching him the importance of paying up for high quality businesses. >> when you get me away from the idea of buying very social companies at very cheap prices, knowing that there was some small proifit, and looking for really fun businesses. >> it's not that fun buying businesses where you hope it liquidates before it goes broke. >> reporter: they had deals like their 1972 purchase of see's candies, and the decision in the '80s to buy a stake in coca cola. before his

and berkshire hathaway posted a surge and record cash.ash was really what stood out to a lot of viewers or people who watch berkshire hathaway closely. essentially the oracle of omaha has decided to park a huge amount of his money in short-term treasuries. we've talked so many times about the uptick in yields. with short-term treasury yields at 5%, they're potentially risk-free, and he doesn't see a big enough reason to take the money out of what are called cash markets to put into deals or stocks at this point, because they're providing such great returns. one other thing to note, berkshire hathaway posted a significant investment loss, which largely came from the decline in apple's share price. they've got a pretty big stak in that company. >> tyson foods is recalling nearly 30,000 pounds of its dinosaur-shaped nuggets. i've certainly had those in my house over the years. tell us what's going on. >> metal pieces have been found in the food. it's a recall out of an abundance of caution. the nuggets were produced out of one facility and d

the 99-year-old billionaire was buffet's right-hand man at berkshire hathaway.fet famously ran they had not had a fight in 60 years. in his last interview with becky quick from cnbc just a couple weeks ago monger said he never believed when he and buffet started out with a, quote, piddly amount of money, they'd ever get to $100 never mind hundreds of billions. warren buffett has lost his confidant and close partner. he said berkshire hathaway would not be what it is without monger's inspiration and wisdom. thanks for joining us. "ac 360" starts now. >>> tonight on 360 more hostages come out of gaza with another group expected tomorrow and talks under way to extend the truce and the flow of captives for as long as possible. >>> also tonight liz chapy's new book, the elevations in it about the former president which she calls his republican enablers and collaborators and how she says they just could not quit him. >>> and later why republican hopeful nikki haley is more hopeful tonight. the surprising big name and money endorsement she just got and how it might cha

mungerjoined berkshire hathaway in 1978, and helped transform it from a small textile company into a that the us federal reserve will start cutting interest rates by the middle of next year. the us currency dropped 0.5% against a basket of six other currencies to trade at its lowest level since mid—august. the decline accelerated after christopher waller, one of the fed's most hawkish policymakers, signalled that interest rates were unlikely to rise further and could be cut if inflation continued to slow. saudi arabia's sovereign wealth fund has taken a 10% stake in london's heathrow airport, following the decision by the spanish infrastructure group ferrovial to offload shares in the uk's main travel hub. the shares have been purchased by ardian, a european private equity group, and riyadh's public investment fund. still to come, knocking it out of the park — with global revenues set to surpass $1 billion next year, we look at the commercial success of women's sport. around the world and across the uk, this is bbc news. bbc news, bringing you different stories from across the uk. we

the vice—chairman at the american conglomerate berkshire hathaway has died.e was 99 years old, he was an investing master. he had a net worth of $9.3 billion. warren buffett contributed much of his success to him. speaking of big numbers now, to india where the vehicle shall fails rose 19% during the festive season just ended and this is a critical time for the industry when the bulk of the buying takes place. talking a little more about that with my colleague joining me from mumbai. great to see you. what is driving this growth? solid festive spending. this is across the board growth that we have been seeing, led by things such as three wheelers which grew a1% and two wheeler sales up about 21% and that is reflective of the fact that rural demand which had been tepid and was lagging has started to come back and certainly that is good news for the sector. we also saw modest growth in passenger vehicle numbers, up about 10%, compared to the same period last year during the festive period. this is a segment of the industry that has been impacted by things such

now defenders including keller williams, berkshire hathaway and others say they will appeal the verdicthich calls for $1.7 billion in class action damages. >>> elon musk says tesla is planning to make 200,000 units of its cyber truck per year once production starts to ram up up. speaking on the joe rogan podcast, manufacturing the vehicle has been much harder than the design. shares are down 24%. its 52-week high hit july. that's one side that deutsche bank calls a global ev meltdown. >>> and closing arguments begin in the criminal trial of former ceo sam bankman-fried after defense rested its case shortly before noon yesterday. this follows two days of cross-examination by the prosecution of bankman-fried who stumbled through questions over past tweetses, balance sheets, and text messages. bankman-fried faces a potential life sentence if convicted on charges tied to the clasp of crypto hedge funds. >>> a lot more to come on "worldwide exchange" including one word investors have to know today. but first uk prime minister reshih tzu knack at one of the safety summits today. we're on the

. >>> and coming up, berkshire hathaway and warren buffett sits on a record amount of cash.e'll break it down after this break. only the sleep number climate360 smart bed lets you both sleep up to 13 degrees cooler or warmer on either side, and at your ideal level of comfort. your sleep number setting. and now the new queen sleep number® c2 smart bed is only $899. sleep next level. shop now only at sleep number what is cirkul? cirkul is the fuel you need to take flight. cirkul is the energy that gets you to the next level. cirkul is what you hope for when life tosses lemons your way. cirkul. it's your water, your way. ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. i'm andrea, founder of a boutique handbag brand - andi - and this is

so it doesn't mean it never happens but this would be a rare case for berkshire hathaway and myself to have an investment thesis on a takeout. >> to the headlines with bertha coombs >>> the first aid truck carrying fuel made its way into gaza today heading to u.n. aid distribution trucks with more than 6,000 gallons of diesel fuel the relief agency said this is 9% of what it needs for daily lifesaving activity. israel had refused to allow it >>> efforts are under way in northern india after a collapsed himalayan highway tunnel trapped 40 workers debris continues to fall into the channel. rescuers are preparing to deploy advanced machinery that cuts through rubble faster. workers have received food and water but warn some of them are sick >>> and colombia is combatting a problem started by drug kingpin pablo escobar. sterilizing hippos descending from the ones he illegally brought into the country back in the 1980s. two males and one female have undergone surgery as they attempt to get the population of more than 100 under control. back over to you, scott. >> bertha, thank you >>> comin

it's a $350 million market cap company. 224 million shares 4% of berkshire hathaway here's a thing an the occidental haze. warren buffet is also the single largest active shareholder of chevron. yeah, you got state street and black rock they're passi investors through etfs berkshire hathaway is the third largest institutional shareholder in chevron as well so he's making investments in oil long-term. the exxon pioneer deal, chevron hess deal. but keep in mind, those were special deals. pioneer run by scott she if those may be special situations i know you talked a lot about this are these mid market deals that kind of pop up all i know is this -- if you believe that we're not and you long-term? i would argue that the longest term investor of all, mr. warren buffet, is investing for the long-term future and profitability of some of these oil companies, like it or not. >> do you know, brian, when warren got that waiver >> yeah, it was earlier this year. >> earlier this -- okay, so it's fairly recent as he was accumulating shares. do you now how much dry powder warren has >> guy adami p

the vice—chairman at the american conglomerate berkshire hathaway has died.e was 99 years old —— he was an investing master. speaking of big numbers now, to india where the vehicle shall fails rose i9% the vehicle shall fails rose i9% during the festive season just ended and this is a critical time for the industry when the bulk of the buying takes place. talking a little more about that with my colleague joining more about that with my colleaguejoining me from more about that with my colleague joining me from warm by. great to see you. what is driving this growth? this by. great to see you. what is driving this growth?- driving this growth? this is across the _ driving this growth? this is across the board _ driving this growth? this is across the board growth i driving this growth? this is i across the board growth that driving this growth? this is - across the board growth that we have been seeing, led by things such as three wheelers which grew 41% and two wheeler sales up grew 41% and two wheeler sales up about 21% and that is reflective of the fact that

warren buffett's berkshire hathaway reporting a huge jump in third quarter operating earnings up 40% from a year ago. he is now sitting on a cash pile of $157 billion. it was made up for in the bond buying with buffett wasting no time in short-term debt yelleyielding 5%. by the end of the quarter, he owned $126 billion in investments. >>> to the middle east and saudi arabia saying it will extend production cuts of 1 million barrel per day through the end of december. affirming the september announcement it would keep cuts in place through the year's end. this as russia will extend the cut of 300,000 barrels per day through december. >>> harvard graduate bill ackman calling out his alma mater calling out the university to reduce anti-semitic rhetoric. this follows a dozen other ceos last month to refuse employment to members of student groups at harvard that signed a letter for the deadly attacks in israel. >> great to see you. thank you. >>> we have more to come here on "worldwide exchange," including the one word investors have to know today. first, the tech sector is coming off the

here are the top corporate stories, berkshire hathaway's cath file set a record of $157.2 billion stoods and lack of deals. it surpasses the previous high set two years ago. they have parked their short-term treasuries. the company is trying to find big-ticket deals despite wrapping up its acquisition strategy. west bank is lifting its dividend and will buy back $980 million of shares net income rose 26% from one year ago but missed estimates. the ceo sees customer sentiment remaining week going ahead but said there were glimmers of hope with cost pressures starting to use for businesses. heidi? haidi: getting back to the earnings that we broke earlier in the day, dbs group ring profit that beat analyst estimates propelled by margin growth across commercial lending. let's bring in senior reporter -- great to have you with us and see you in person. what we are looking at was commentary around the penalties we have seen, right? take us to the numbers first read they were solid. >> yes indeed the beat comes from the interest margin which expanded for seven consecutive quarters. the outlook

. >> half a million dollars of berkshire hathaway, interesting to see. >> what is your verdict on theook investment losses because of the stake that they have an apple, coca-cola, bank of america although stocks were down in the quarter but the operating profit hit a record and so did the size of the cash pile. berkshire hathaway 157-point to billion dollars, is that a good story or a bad story, it's dried powder maybe he doesn't know what to do with it, it's fuel for an investment or a purchase but what. >> judgment time. >> it's a little over a 500 billion-dollar market cap so they have a lot of cash and with that size you can't move the needle that's a you find the greatest investment for $10 billion is nothing it's a tiny fraction. >> what's he going to do. >> a very large acquisition if we go into recession. >> after the financial crisis he bought the largest cavity in north america he loves the industrial companies he tripled his money on that he did huge money into goldman sachs and general electric. >> recently chevron. >> it's kind of interest to the left of the talk about th

the vice—chairman alongside warren buffett at the american conglomerate berkshire hathaway has died.rs old and investing legend who amassed a network of $2.3 billion. in a statement the present success of the company was credited to him by mr buffy. 0nto climate news now. a bbc investigation has found the toxic pollutants released during gas flaring poses more risk to people than previously feared. flaring is the burning of waste gas during oil drilling and the uae have banned the routine use of it 20 years ago. satellite images show it still continues and that poses more questions about the effectiveness of the cip 28 climate conference hosted by the uae which also happens to be a major oil and gas producer.— be a major oil and gas roducer. , ,., ., producer. the most important feature of _ producer. the most important feature of cop28 _ producer. the most important feature of cop28 in _ producer. the most important feature of cop28 in the - feature of cop28 in the emirates is it marks the culmination of the global stock—take, new mechanisms stock—ta ke, new mechanisms shouldn't sto

in other news: berkshire hathaway — the investment firm owned by renowned investor warren buffett — is$157 billion dollars. the firm unveiled its earnings at the weekend, which revealed it sold more than $5 billion dollars of us and foreign stocks in the third quarter. here in the uk, licences for oil and gas projects in the north sea are set to be awarded annually, under government plans. there is currently no fixed period between licensing rounds — but this would change under a bill to be announced in tuesday's king's speech. ministers said projects would have to meet net zero targets and claimed the policy would guarantee energy security. if you want to reach me online, there's more on all of those stories on the business page of the bbc website. we will see you very soon. bbc news bringing you different stories from across the world. clocking up on the coast, 37 your mum is about to take on her latest ultra running challenge. i’m mum is about to take on her latest ultra running challenge.— ultra running challenge. i'm trying to find as many _ ultra running challenge. i'm trying to

. >>> meantime, the business world is remembering a legendary investor, long-time berkshire hathawayice chair charlie munger has died at age 99. he and buffett had the decade-long partnership. our becky quick sat down a couple weeks ago, and she asked munger if he had any regrets. >> is there anything left on your bucket list, anything you'd like to do? >> well, that's an interesting question. i am so old and weak compared to what i was when i was 96 that i no longer want to catch a 200-pound tuna. it's just too much work to get it in. takes too much physical strength. so, i would have paid any amount to catch a 200-pound tuna when i was younger. i never caught one. and now, given the opportunity, i would just decline going. i would only go out after that. there are things you give up with time. >> you're pretty active. you've got a busy social schedule. you're on zoom. you have breakfasts and lunch. >> i like it that way. >> yeah. >> that's my idea of a proper old age for me. and i didn't plan it. it just happened. and when it happened, i welcomed it. i am very good at recognizing u

you have berkshire hathaway. the best value investor of all time.ire hathaway is also one of the largest holdings of the s&p 500. i think for most people unless you're an active trader for most people they should be investing their money in the long term in a broad basket. charles: you are always invested too, david? >> i like what he said, one of the worst strategies is the market timing strategies. the worst index out there u.s. fund tactical index "morningstar," up fractionally on the year in a year where the market did pretty well. charles: what about non-profit, profitable tech? we know with yields this high, we talked a little bit about that with blancato. a lot of these companies are in trouble but if yields start to come down they start cutting rates next year, those kind of stocks, we saw short-covering, a little bit of a short-covering rally a week ago, if you talk about supervise is it ever worth of the risk for you, mike? >> companies losing money? charles: yeah. >> let's go to two recent examples cop companies went from losing money and

warren buffett's right hand man, an instrumental figure in effectively turning berkshire hathaway intoestment powerhouse. munger was a man who famously steered buffett away from buying mediocre companies to pursuing meaningful companies like coca-cola. he put up huge opposition to buying potential businesses but had big bets. he invested in the chinese of electric vehicle maker byd. he was a lawyer before moving into investing. he was known for his sharp wit and often treated shareholders at the annual meeting to his one-liners. munger built up a $2 billion fortune. he died peacefully in hospital in california, just shy of his 100th birthday. back to you. >> what a hlife lived there. >>> still to come, the changing relationship between fans and pro athletes. what happens when taun gtso too far and star players fight back? right after this. talking to people about their hearts. ooh, take this exit. how's the heart? i feel like it's good. you feel like it's good? how do you know when it's time to check in on your heart? how do you know? let me show you something. it looks like a credit c

the vice chairman of berkshire hathaway. he was 99. >>> mark cuban is leaving "shark tank."ason, the show's 16th season, will be his last. he says he loves the show, but wants to spend more time with his teenage children before they leave for school. >>> when we come back tonight, what dolly parton just achieved, with your help. and she's not going to text about it. it. the feeling of finding the psoriasis treatment she's been looking for. sotyktu is the first-of-its-kind, once-daily pill for moderate-to-severe plaque psoriasis for the chance at clear or almost clear skin. it's like the feeling of finding your back... is back. or finding psoriasis can't deny the splendor of these thighs. once-daily sotyktu is proven to get more people clearer skin than the leading pill. don't take if you're allergic to sotyktu; serious reactions can occur. sotyktu can lower your ability to fight infections including tb. serious infections, cancers including lymphoma, muscle problems, and changes in certain labs have occurred. tell your doctor if you have an infection, liver or kidney problem

. >> i own the billggest and best but it's buried within berkshire hathaway >> i thought you were goingre. >> berkshire is double the performance of the s&p 500 the last three years don't tell anyone. the 99-year-old is beating most active stock pickers again over the last 36 months you see berkshire up more than 50% the s&p up 28. i wouldn't say the utility is one of the bigger drivers within berkshire. on a standalone basis, if it were publicly traded, it would be the second largest in the country and there's a lot of cash flow coming from there. that's my exposure right now to the space. there's a lot of stock picking talk going on. if you look at the median utility stock, they're pretty much going to do within a narrow band what the xlu does if you feel the need to play catch-up, you don't have time to research the space and pick a name, you can own the s&p index. it's fine. >> let's get the headlines now with bertha coombs >>> the head of the international committee of the red cross is planning to meet with the families of israeli hostages today officials say the parties are meetin

berkshire hathaway has largely parked its hoard in short-term measures. struggled to find big-ticket deals despite ramping up its acquisition strategy in recent years. 20 more ahead. -- plenty more ahead. this is bloomberg. ♪ haslinda: atlanta fed president rafael bostick says policymakers tend to watch how the economy is the roving -- is evolving and be patient about interest rate moves. he says he is also using other measures to gauge the effect of monetary tightening. >> in addition to looking at the data i do a lot of on the ground intelligence. in a period that is really unusual for me, everybody was saying the same thing which is that things are slowing down, we are seeing the economy start to normalize is the thing people have been saying, relative to this hot pandemic period. when i get unanimity on that, that tells me there is some thing happening on the ground that is probably stronger that what i might see in the data. even though the data came in very strong in september, if you looked over a longer term trend it still said the economy was mod

the big institutional and shareholders can file what they did the previous quarter shows that berkshire hathawaythe investment in apple remain unchanged. they are the largest individual investor of apple shares. as berkshire keeps its finger on the tech sector our "countdown" closer is picking it out as well. horizon ceo scott ladner has a name you feel is a real opportunity for investors. scott. >> hey, liz, thanks for having me. as far as the tech sector go it may not be the play into the end of year. you might want to get cute to the end of year, small caps at the end is the pain trade in the market. as we turn the calendar in 2024 tech is definitely the place you're going to want to be. this will be large gets larger type of trade, sort of like the internet productivity boom from 25 years ago, small players like amazon could really flourish. this a.i., quantum computing boom over the next 24 months will be dominated by names everybody knows, googles, amazon, microsoft, those kind of things. the thing to stick with names everybody knows about, they're cash cows, and cash cows for a reason. li

berkshire hathaway, the investment term owned by warren buffett is sitting on a record cash pile of hundredearnings of the weekend and found it had sold more than $5 billion in the third quarter. 30,600 kg of chicken nuggets were recalled after metal pieces were found in them. the firm said that the recall is out of an abundance of caution while the food safety investigation drew inspection service said it had received a report of a minor oral injury. elon musk has launched a chat box in order to... musk has launched a chat box in orderto... named it has musk has launched a chat box in order to... named it has access to x and is only available to select users. he said that �*grok�*, loves the sarcasm and would reply with humour. hopefully also factual. those are your top business stories, you're watching bbc news. bbc news bringing you different stories from across the uk. villagers who were meeting their mp and nottinghamshire havejust found out about the latest proposal for a solar park. the great north road scheme has battery storage for the grade and a chain of solar islands linked by u

what is berkshire hathaway up to?tion in sirius xm radio and punting gm from the portfolio. matt: in today's economic data releases, u.s. producer prices came out and dropped by the most since the onset of the pandemic. that adds to evidence that inflation is at least slowing down. reade pickert joins us from washington, d.c. what drove the drop in producer prices? reade: it is important to remember these numbers came on the heels of a better-than-expected cpi. what we saw was that producer prices were driven mainly down by sharp decline in gasoline prices, which helped pull down the headline by as much as it did. you also saw some other things that were pretty inspiring. for instance, we saw the services measure was flat for the month after months and months of increasing, which is the type of thing the federal reserve is concerned about. it really likes to see that. one of the main things that we care about from this particular report is a lot of the inputs paired with the stuff from the cpi yesterday flows into the

thank you for your time roger ferguson. >> thank you. >>> earlier this week i sat down with berkshire hathaway home in los angeles. one story in the news recently involved a soured relationship between the company and the family which sold majority to berkshire. in a lawsuit the family accuses berkshire using an accounting method to could reduce the price the family gets if it decides to sell remains 20% stake in pilot to berkshire here's charlie munger's response to that. >> maybe we have interpretation and they have one interpretation and it's who is wrong and who is right, to be determined. >> by the court system the delaware court >> i think respond come to reasons later. pick a number. >> munger added he thinks their formula clauses will change for future acquisitions, manipulation on either side, tighter on those things and warren bustette said berkshirie would abide by what the extract says according to the complaint, brought before the delaware court. an issue in the news because berkshire always had good relationships with the companies they brought into the fold a lot of things done

you pay for value, that is something berkshire hathaway got a little bit on this news but looks likents to break to new highs. you can learn a lot and i'm hearing new quotes minute by minute as tributes keep pouring in and he will be missed. jack: i'm not into fads. he is way beyond that. it says a lot. always great talking to you. >> we have a tree lighting here if it gets too crazy at rockefeller center, hundred anniversary of our tree lighting at the stock exchange should be a fun event. neil: great to see you. let's go to the hostage exchange, this isn't to a sixth day to facilitate this but doesn't mean it is going to be the seventh day, we are keeping track of it. >> negotiations are continuing in qatar to see if this pause in the fighting would be extended yet again but i can tell you that the prisoner hostage exchange today, the sixth day in a row, is underway. we are awaiting the official transfer of 12 hostages from hamas to the red cross in gaza. 12 hostages, 10 of them israeli women, two of them hold dual citizenship in russia and israel, this is believed to be a gesture

man and charlie munger passing away at the age of 99 and a california hospital confirmed by berkshire hathawayer the no ma'am for his fierce objection of potential investments. crediting his investments in engineering and technology companies. then there was this new york congresswoman and squad member alexandria ocasio-cortez getting a lot of pushback for the comments about new york city's working class. watch. >> the people moving out of the city are not by and large the wealthiest people, that the working class that cannot afford to live here anymore. >> she goes on to say the answer of tax the rich that's the socialist like herself and bernie sanders. the new york post agree with her yes people are moving out that have not recovered from pandemic job losses, empty offices, rising crime on the subway and the street. aoc right nyc is unaffordable thanks to her fellow democrats. the post goes on nothing of the state screen new deal climate laws that are sending power prices for new yorkers guy wo worth. more to the criminal justice reform, aoc and her patriots back. aoc offered her usual pres

. >>> and ahead of thanksgiving, warren buffett donating $870 million of berkshire hathaway stock to >>> here's what to watch today, several pieces of economic data on tap including weekly ads and we look at consumer sentiment figures. we get deere results. >>> let's get one more check of futures this morning taking a look right now, you can see they're in the green across the board, the dow hitting the highs. the s&p and nasdaq now firmly in the green. for much more let's bring in tiffany mcghee, a cnbc contributor. great to have you here. >> good morning, frank good to be here. >>> we saw a bit of a blip what are you expecting the day before holiday so not just today. you know, we think -- we really see the s&p 500 rally continuing through the end of the year. the reason why, bull markets and rallies typically had to end with, you know, euphoria and high conviction and we're really not seeing that. when you strip out tech and s&p 500, we're not seeing that what we're seeing especially from institutional investors, we're seeing lower allocations to equities and we're really -- we're

brooks running company, berkshire hathaway made the sneakers desiree linton war when she won the bostonmen's in 2018. they've got some big names sporting the brand at the new york city race with one of them wearing the new ghost max sneakers but it is a vicious competitive world, much more than ever. joining me is james weber. of my gosh, you guys have come so far from when i first started covering you a decade ago. you had much smaller market, now you have a 21.4% market . >> . >> we made progress. thanks for having me. we've been here for a decade. joining berkshire, we were part of the 300 million, we reach 1.3 million this year. what's different about that is all performance running shoes, what we focus on. a great week to celebrate runners and running. liz: let's be honest, you watch the finish lines of the big major races and say we want one of our people to cross the finish line 1st or second certainly wearing these shoes, but desiree linton shoe. what was and how has it changed? >> carbon plates are in shoes for competitive racers, carbon springs and the issues have become neces

the 99-year-old billionaire was buffet's right-hand man at berkshire hathaway.fet famously ran they had not had a fight in 60 years. in his last interview with becky quick from cnbc just a couple weeks ago monger said he never believed when he and buffet started out with a, quote, piddly amount of money, they'd ever get to $100 never mind hundreds of billions. warren buffett has lost his confidant and close

. >>> warren buffett's berkshire hathaway out with results over the weekend.sh r as buffett saw deal more making opportunities. munger gave a q&a to the "journal" last weekend where he gave a 50/50 chance they bag an elephant given how venture capital has inflated prices across the board. >> it's possible, and that's a very sound view. i still think it's difficult to get a deal done. i know that berkshire hathaway, you would think that there's no overlap to what they might buy, and they'll be sensible about it, but the ftc is not sensible. and we haven't heard from them lately, but they've really wrecked -- they've wrecked the m&a market. when you look at amgen, how long it took to buy horizon -- by the way, it's a very good deal. people don't seem to think so. it's still early. i think the chilling effect is just astounding. the fact that you have to go to court to do a deal has made it so it's just, for most -- i deal with a lot of m&a lawyers, and they say the same thing, which is, sorry, unlike the bankers, we don't get paid on the deal, and there's -- she

condolences to everybody at berkshire hathaway and the family. agnico-eagle mines. >> thank you for watching "fast adon" th "m meywi >>> my mission is simple. to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now. >>> hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people want to make friends. i'm just trying to save you money. my job isn't just to entertain but to educate and teach you. call me at 1-800-743-cnbc. or tweet me @jim cramer. as the late baseball great yogi bear once said about a red hot restaurant, nobody goes there anymore, it's too crowded. even on a solid day where the dow only gained 84 points, s&p edged up 1%. nasdaq up. these stocks, six of which we owned with the trust for some time, which you can follow by joining the cnbc investing clubs. the ratings of alphabet, microsoft, nvidia and tesla, so why wouldn't the index swing with them? let's go back. you have to wonder why so few people ac

. >>> time now for your big money movers starting with warren buffett's berkshire hathaway, selling outo general motors, proctor & gamble and chevron and others. his top ones remain apple, american express, coca-cola, and chevron. m michael burry made new bearish bets offering puts against the i-shares semiconductors as of september 30th meanwhile notable moves disclosing new stakes in ipos including instacart and exit in nvidia and others. >>> just ahead, the one word investors need to know today. >>> and apparel making and the partnership she says could naenm tt re momtuinha me we'll be right back. closer than the average mother daughter. hi mom! if i lost my mom.... i can't think about that for too long. i was like, "whoa, mom, i have this gene!" kenzie's test and me being able to find out that i was brca positive was lifesaving. the holidays wouldn't be worth celebrating without my family. power e*trade's easy-to-use tools, like dynamic charting and risk-reward analysis help make trading feel effortless. and its customizable scans with social sentiment help you find and unlock oppor

. >>> before the break, all day today, we are remembering the legacy of berkshire hathaway vice chairman charlie munger who passed away yesterday at the age of 99. munger was the longtime friend and business partner of warren buffett and an institution here on cnbc. >> i could have done a lot better if i had been a little smarter, a little quicker. >> what are you talking about?! you've had success in everything you've done in life. what would you like to do differently? >> well -- i might have had multiple trillions instead of multiple billions. >> don't miss the special program tomorrow night on charlie munger's life and legacy and wit and wisdom, 8:00 p.m. eastern right here on cnbc. "squawk on the street" will be right back. ( ♪♪ ) we're still going for that nice catch. we're still going for that sweet shot. and with higher stroke risk from afib not caused by a heart valve problem, we're going for a better treatment than warfarin. eliquis. eliquis reduces stroke risk. and has less major bleeding. over 97% of eliquis patients did not experience a stroke. don't stop taking eliquis with

as vice chair of berke hathaway, arming -- berkshire hathaway, averaging an annual gain of 20%, that's twice the pace of the s&p. so warren buffett bought cheap, but munger without great -- bought great businesses at reasonable prices. he was willing to pay more. he was also known for his wit. remember? he called bitcoin rat poison. you know, he never graduated college, but he got himself into harvard law school, and he graduated magna cum laude anyway. blind in one eye, yet he drove until his early 90s. his take on life -- because how do to you become so great, so modest and live happy until you're 99 years old? you can buy a new edition of his book, charlie's almanac, out on tuesday. stuart: we could all take lessons from that guy. lauren lauren i know. what a life. stuart: president biden's approval rating continues its downward spiral. a new gallup poll puts it at 37%. and it's even worse on key issues like the mideast and the economy. jason chaffetz is with us now. look, the election is less than a year away. is biden's insistence on running actually killing his party? >> it is. y

guy: in some ways, kkr is becoming like berkshire hathaway.e we mourn charlie. how ahead of his time was he? what are the lessons learned that the finance industry can take away from his incredible investing career? how are people talking about him today? sonali: interesting you mentioned that. apollo things about it this way, buying an insurance company, lowering your cost of capital, but there was another private asset tighten said today and the one thing he said was you cannot start taking profits just because of stocks moving up the first 20%. they have held things for decade. in the idea of holding onto something for a long time is still an art that most investors have not perfected yet. guy: absolutely. you talk about patient capital, those guys defined patient capital in terms of the way they approached things and how they approached maybe buying assets for a fair value but by good assets and assets they were comfortable with. you can see how much cash they have sitting on the sidelines right now. thank you very much indeed. this is blo