let's stay with buffett and berkshire hathaway and turned to another billionaire. buffett's belcher hathaway -- warren buffett's berkshire hathaway selling shares of bank of america. berkshire still owns almost $40 billion of the bank. katherine doherty has been looking into this. . is this a surprise? a year ago he was saying he wanted to stay put in bank of america. catherine: it is his biggest pullback of his investment that he originally made. it was back in 2011 when he was saying bank of america and ceo brian moynihan, i believe in their ability to turn this business around. coming out of the financial crisis they were dealing with billions of dollars of liabilities they had to clean up from countrywide. a lot of these mortgages they had been inherited. along the way, berkshire has continued to build his stake in bank of america. he has signaled his support of the bank, of moynahan. these recent sales, yes. the surprise is the fact it is happening. it has been that many years since 2011 he has built. he has not been selling. now he is selling. the question is

but also berkshire hathaway. explain to us. >> warren buffett doubled down.ou've got see's candy and coca-cola. you also have insurance. table economics, our insurance has gone up personally year over year. that is ooh going to feed into earnings for berkshire hathaway because it's 30% of their portfolio. we believe they're going to capitalize as a result of this. if you don't own it, you should consider owning it. and we believe the next quarter will be good for them. >> motor vehicle insurance increased 20% year over year. in your miemtd, is it smart to invest in insurance companies across the board? >> yeah. insurance companies year over year, it's sorts of a catch-up trade since covid. keep in mind for the first two years of covid no one did anything and in 2022 everybody started moving. they said, oh, gosh, people are moving, so insurance goes up higher. that is ooh not fair, but they gave all of us a 30% increase as a result. that's going to feed into all of the insurance companies. warren buffett is going to profit on it as he always does. >> thank you

closed in september when the two copies merged and you have a good company in the trade because berkshire hathaway. jack: i have a follow-up worm buffet likes siriusxm and sirius xm sinatra is his station, my son who is 17 said i don't know how to use the radio in my car it is all on the phone, spotify or whatever are you worried that sirius xm is awkward to be the thing. >> that's the challenge they have to try to get a younger audience because most of the audience is probably 50 plus, buffet is 93, the evaluation is relatively low and maybe they will have success in pandora. jack: to read more checkup this edition of barron's.com make sure you read andrew story, don't forget to follow us on access barron's online and facebook, and instagram for the latest show updates, that is all for us on "barron's roundtable". ♪ ♪ >> at the fox studios new york city this is "maria bartiromo wall street". >> happy weekend to all, welcome to the program that analyzes the

berkshire hathaway sold off another block, now holding under 5%.t means dozens have to disclose any further stake sales or whether it issues -- exits that position altogether. byd shares of 3.25%. still to come, a preview of india's budget. the goldman sachs chief economist is going to join us to talk about which sectors they think might be winners and losers. this is bloomberg. paul: welcome back. we have markets in china just heading out to lunch. here's a look at how we are doing. a little off the pace in hong kong. the csi 300 off by about 1% at the moment. other markets around the region performing pretty well but we are seeing a little softness in china. still some concerns circulating about the limited support coming out of the plenum which concluded last week. the rate cuts we saw last week not doing enough so support sentiment. avril hong is in singapore. avril: we are focusing as well on another major asian economy, india. we have the finance minister later today to deliver her first budget speech under the new coalition government. the r

berkshire hathaway, 490 stocks, we are seeing get -- neil: you are a nerd it. >> when it can support a narrative, when you go through these things you are put in perspective. 5% corrections a year on average. neil: rarely are days go beyond 1% or 2%. let me ask about the preview of coming attractions without moving on rates just yet. i noticed all the european markets which were largely flat to begin with, what the expectations were. a lot of people extrapolated that to mean it is not a gimme here that we cut in september. >> jerome powell is data dependent. may be all bets are off. he likes to telegraph things. most in the september camp don't expect something to be in july because he has ample opportunity to telegraph. i don't think it will dictate policy here. continuing claims continue to rise. that's narrative to the softening of the labor market, soft landing narrative, the manufacturing number went up, the highest level in two years. stuart: any number that is stronger than thought, housing activity wasn't bad. markets are playing that game. it's not helping. >> they are antic

tom: briefly overtaking berkshire hathaway with the context you put.n it comes more broadly, you monitor the sector closely, in terms of sentiment around ai, the expectations that it has further to run. where are we between the gap of expectations and sentiment? >> there are a lot of different views. citigroup is one of the latest saying that ai stocks are now the most stretched going back five years. what they are measuring is the basis of 60% of the market cap on such names have growth rates running above consensus. that indicates we could see a little rebalancing coming through in the sector. citigroup advises them to consider to take profit -- and to rebalance a little bit across the ai value chain. there are other beneficiaries. we talk about the infrastructure surrounding a guy, data center providers and utility stocks could all gain. it is worth pointing out that citigroup has that call out but we get more as nvidia trending higher overnight and ubs raising its price target on the stock from around 125 to around 150. there continues to be optimi

. >>> berkshire hathaway is selling bank of america stake again that total $300 million. >>> and theone gdp growing in the second quarter of 0.3%. >>> here is what to watch today. the latest s&p home price index with the jolts report and home price figures. we get the busy week of earnings season. microsoft, starbucks, merck and pfizer. and the bank of japan meets as well as the fed tomorrow. the earnings and the start of the fed meeting with the futures in the green across the board. you see the s&p is up oeight points off the highs of today. the nasdaq is up 15 points higher. joining me now is david katz. great to see you. >> good morning. nice to be here. >> david, give us a sense. how do you see today shaping up? what is the "wex" word of the day? >> the word of the day is whipsaw. is the fed going to cut in september or not? in earnings season, you will see a lot of volatility. the market doesn't like some earnings. they are dropping stocks 10%. others are rallying. expect volatility. >> david, you are expecting a lot of volatility and at the same time, you see a lot of opportun

you have progressive up, berkshire hathaway, which owns geico up almost 2% and travelers up 1.3%.k from today. >> do these property and casualty insurers have complete freedom to pass through pricing power or are they subject to any state regulations? >> no, they don't. many states the rate requests go through an insurance commission. in california, for instance, the insurance commissioner is an elected position. if you're an elected position, you need to please the voters. what car insurers especially saw for years and years is they would go in, ask for a rate increase and it was denied. that has changed this year. and the state has come together because the marketplace has become impossible. many people could not get car insurance. go to the state insurance of last resort and they're trying to fix that system. rates are just now starting to catch up with several years of lost costs that have exceeded what the premiums were coming in. >> people couldn't get insurance because the companies wouldn't write the policies? >> yeah. in fact, a lot of the insurers said, we can't do busin

touched the $ trillion market cap level for taiwan semi makes it, by the way, more valuable than berkshire hathawayiwan semi and increasing focus for investors and earnings come out next week. i'll send it back to you. >> the trillion dollar mark, just shocking, dom. thank you very much. >>> my next guest sees more upside ahead for nvidia and especially around data centers. in fact, he calls the opportunity in that area still early and enormous. let's bring in stacy rascon, senior semiconductor analyst at bernstein. stacy, i would expect you to have something eye rolling to say about how far it's come, and i love that you're still on the bandwagon. tell us why. >> look, we're still early in ai. people maybe haven't forgotten, but chatgpt and the first time the street was able to reach out and touch this and see what it could do. it's a year, year and a half in, it's not that long. we can see the demand that is out there and the orders there were there and the road maps and all of the different silicon players and we are still early on this journey. >> how early? to people who say how can that be po

second, berkshire hathaway, a close second. just under $893 billion. i could easily see this one crossing the trillion dollar barrier. a lot of moving parts here. mosaic ensuring geico. apple is a swing factor here. and the monster massage position here. a lot of industrial exposure. they could go over a trillion dollars. what will need lower interest rates as they seem convinced that lower rates will help the stock save the technology names, even as i would argue that's not going to go higher regardless of the interface. there is always where intrepidation. and the top two could easily be surpassed by the real wild card of the group. if we get one more surge in the stock of the unsinkable tesla, which has been up for 11 straight days. now these days tesla is being pitched more of a technology company than automaker. they just needed to demonstrate the tesla energy could become a much bigger piece of the business. we know tesla's vehicle sales are leveling off after period of decline. the self-driving issues could be the biggest thing going. certainly

the market to say that they'reng unfreezing was buying commercial paper off quality such as berkshire hathaway and all these reallyrporations so and then you had this incredible explosion wealth which took place with people shattered atck market just surged and the surge inlth, which took place in the year 2020, was that p are sitting at home. you've shut the economy down, the econisg,comy , stock market is surging and. all these billionathere are making tons of wealth sitting at because amount of money which has been injected into system is unprecedented. so it's then really which you know, like i got me that what's happened to capitalism, this is an economy and this ithat i was so optimistic on. i came to this. i wrote su optimistic about this country. but then when i saw that therted and connected it with average american is not feeling satisfied. and today here we are in 2024 and the top americans feel that they're doing well. but anyone in the bottomare stressed out in terms did you know their incomes are gettin've got squeezed by, you know, the high inflation we have had. they've got kn

they're pr■ngand unfreezing was buying commercial paper off tripoli credit quality such as berkshire hathawayo corporations so and then you had this incredible explosion wealth which took place with people shattered at surged and the sure intook place in the year 2020, s that peoplepp are sitting at ho. you've shut the economy down, the economy is■7ontracng, but the stock market is surging and. all these bill are there are making tons of wealth sittat hom■-úwe because amount of money which has been injected into system is unprecedented. so it's then really which you kn, got me inking that what's happened to capitalism, this is an economy and isthat i was so optimistic . i came to this. i wrote sucht this country. but then when i saw that t week was being distorted and connected it witht the average n is not feelingtoday here we are4 and the top ten, 20% of americans feel that they're doing well. but anyone in the bottom terms d you know their incomes are getting know, the high inflation we have had. they've got squeezed by this feeling that, you know, that the rich are benefiting and they opp

greg and i had great conversations and how fortunate am i to work for a subsidiary of berkshire hathawayisdom of warren. liz: he had enough wisdom to break out brooks from its parent company that berkshire acquired because he saw you as a cash machine. great to see you. thank you very much, dan. >> thanks, liz. liz: we're rooting for your runners in the olympics. dan sheridan of brooks running. there is a glimmer of hope in the housing sector. new data show builders scaled up new projects last month. billionaire real estate entrepreneur jeff green is here in a fox business exclusive to tell us where he sees more hammers swinging on development projects across the nation, and what does he think of president biden's new proposed cap on rent hikes? yeah, rent control across the nation? we'll ask him. the average american now spends nearly 50% on their rent. up until now very little to show for it until billionaire created built. he became a billionaire after he created it let's make that clear. a first-ever rewards card when you pay rent, you get rewards. it's a great idea but how did he to

berkshire hathaway cut its stake in bank of america again. s month meaning that it paired by more than $3 billion this month. berkshire still holds about 962 million shares. worth about 39 point $5 billion at monday's closing price. buffett is taking profits on bank of america with the stock up 22% this year. the men's triathlon has been postponed at the paris olympic games. organizers cited insufficient water quality in the seine. the event was originally scheduled to take place this morning and will now be wednesday at 10:45 a.m. local time after the women's race. the weather forecast points to the continued risk of rain and thunderstorms which could further delay the event. jonathan: more from dani in 30 minutes. betting big on ai. >> people who are frustrated and uncomfortable with the fact that there has been an enormous amount of spend need to take a breather. we still feel convicted this will be the most powerful theme of the next couple of years. jonathan: we will get another view on the program from new york city. good morning. ♪ jona

they're propping up and unfreezing was buying commercial paper off tripoli credit quality such as berkshire hathaway and all these really well-to-do corporations so and then you had this incredible explosion wealth which took place with people shattered at home that the stock market just surged and the surge in billionaire wealth, which took place in the year 2020, was that people are sitting at home. you've shut the economy down, the economy is contracting, but the stock market is surging and. all these billionaires who are there are making tons of wealth sitting at home because amount of money which has been injected into system is unprecedented. so it's then really which you know, like i got me thinking that what's happened to capitalism, this is an economy and this is a country, america, that i was so optimistic on. i came to this. i wrote such optimistic about this country. but then when i saw that the week was being distorted and connected it with the fact in 2020 that the average american is not feeling satisfied. and today here we are in 2024 and the top ten, 20% of americans feel that they'

on balance not doing a transaction to change berkshire hathaway and merge it into another company., there's a majority. minority required. they want, you know, us to look at the deal with a laser and because of that we need more operation fishbowl. and what and how, nia, got to $2.4 billion, the debt, blah, blah, blah, and how's it allocated. >> when many the last time you spoke to sheri on someone on the independent board committee whether this is fair to all shareholders? >> because of concern i have 700 plus or minus clients. some unfortunately died. some need to go to liability-driven investing. we have to sell a stock, cannot have red lights, like in a squid game, to say we can't sell it. also want to buy some and have not talked to sheri. i sent a note once, did not talk to her. telephone call. i didn't say this in that way about operation fishbowl, and i have not talked to the, the -- skydance people other than a call that they made to tell me there was a conference call last week on monday at 8:30 and it was about 8:15 and assigned teammates, chris, co-chief investment offi

the less than 5% position of berkshire hathaway it is no longer obligated to disclose sales.bank is bidding to become one of wall street's main european rivals for serving america's altar rich. it plans to add as many as a dozen senior bankers. israeli prime minister benjamin netanyahu is heading to washington this week. he will meet with joe biden on tuesday, addressed congress on wednesday and meet kamala harris on thursday. negotiations between israel and hamas are ongoing and comes in the shadow of biden's decision to exit the campaign. jonathan: up next on the program, starting the search for vice president. >> they need a geographic balance ticket and they need a swing state governor on the ticket. that strikes me as captain obvious. jonathan: live from new york city this morning, good morning. jonathan: the opening about to kick off a brand-new trading week. equity futures going into a positive by 5/10 of 1%. clear outperformance on the nasdaq, the nasdaq 100 up by 0.8%. starting the search for a vice president. >> they need a geographic balance ticket and quite frankl

maybe taking one out of warren buffett's book sitting on more cash than ever in berkshire athletics directorway's -- hathaway'sry and the tech stocks are running hot and maybe cooling off. stuart: we have earnings coming up in eight days and final out how they're doing financially and i'm talking big tech now. those earnings reports will be very important. will they stop the rot or where they reinforce the rot and send stocks down further? which way do you see it going? >> we're seeing profitability in the corporations and specifically the largest and that's likely to continue at least for the short term and if we see a pullback here today, i expect that to be short term right now just given the liquidity and what the fed still has the ability to do. but ultimately it comes down to the consumer and if you can see how the con super is doing and see how the economy ends and you happen might not be in step with what we're seeing in prices here. stuart: would you advise your people to do any bottom fishing? dip buying on big tech? today? >> absolutely. stuart: you would? >> yes, absolutely. i'm buying today. stuar