i mean, it is an incredibly attractive instrument for the homeowner, berkshire can't do that. we can't issue a 30-year bond and have it so we can call it off tomorrow at par. no way. and you as an individual can do it. it's a great instrument. >> for most people their home is their most valuable asset. is that the way it should be? >> should be for a great many of people. if you know you're going to live in an area for a considerable period of time, the home is terrific. i home i live in now i bought in 1958. and i wouldn't trade it for anything. it's got all kinds of good memories and kids, it's home to them, home to their friends. i mean, it's -- if you find a house you like and you're going to stay in the locale for a while, buy it with a 30-year mortgage and it will be a terrific -- it's good for a family. >> how much of the home being a great purchase is reliant on being able to deduct your mortgage interest? >> that's certainly is a factor. i doubt very much that they take away the interest reduction in the end? all of these things come up so easy to talk about and try t

that 110 or 20,000 i was borrowing, i was buying berkshire in the early 1970s. would have bought 3,000 shares of berkshire with the proceeds of the loan so that's $750 million instead of putting it into the house. >> yeah. >> what about now? people can get a mortgage for 3.5, 4%. >> if you get a 30-year mortgage it's the best interest in the world because if you're wrong and rates go to 2% which i don't think they will, but you pay shags. i mean, it is an incredibly attractive instrument for the homeowner and you've got a one-way that berkshire can't do that. we cannot issue a 30 year bond and have it so we can call it off tomorrow at par. no way. and an individual can do it. it's a great instrument. >> for most people your home is your most value you believe asset. >> it should be. if you're going to live in an area for a considerable period of time, the home is terrific. the home i live in now i bought in 1958 here and i wouldn't trade it for anything. i mean, it's got all kinds of good memories, the kids, it's home to them, it's home to their friends. i mean,

thames valley police say extra barriers have been put in place around the royal residence in berkshires of thousands of tourists every year. pete cooke reports. windsor‘s latest line of defence against those intent on chaos. these barriers appeared yesterday. the aim to stop another westminster style attack. providing extra attention to the changing of the guard ceremony. soldiers proceeding to and from windsor castle to the sound of a military band. are they necessary or too much of an eyesore? not very pretty but we realise that they are a necessity now. which is such a shame but that's what we have to live with these days. i don't mind. people come for us, opposite the barracksjill opposite the barracks jill has lived opposite the barracks jill has lived opposite the barracks for years. she was only told last night. it's better. what was before with a car atan angle better. what was before with a car at an angle across the road, a police car. that wouldn't stop something like westminster happening. thames valley police say the changes were proportionate, there was no books, grow spe

warren buffett, berkshire hathaway quadrupling in february. lauren: people calling it safety stop. you have to own apple because it's so prevalent. dagen: and all that cash. lauren: general mills with third-quarter earnings before the market opens. the two jagged 60% of sales from the u.s. in retail sales dropped within a percent in the first half of this is clear. general mills with weakened immune from consumer case and declines in its yogurt into categories. the dow component with results after the bell today that may report its first year-over-year earnings declines since late 2012. the company expected to fill a competition at the deepest doubled its athletic footwear market to 10% to put that in perspective, nike has a 45% share. fedex reported third-quarter earnings after the bell as well. the company expected to be helped by the strong holiday season. investors will be watching for not good on the fact that their purchase of tnt express and also interested in how fuel prices affect margins. dagen: here's a look at today's edition of "the wall street journal." british leader

mary sandell is the head of forest school in winnersh in berkshire.o parents to tell them she would be resigning in august in protest at the state of school funding. mary sandelljoins me now from windsor. is it purely funding that is driving you out? is this all about resources 7 you out? is this all about resources? yes, it is, u nfortu nately. resources? yes, it is, unfortunately. so the impact on your school is what? 0n unfortunately. so the impact on your school is what? on your pupils is what? there are so many impacts and also on the staff as well. staff are working harder, so there are bigger teaching groups, fewer subjects, fewer resources , teaching groups, fewer subjects, fewer resources, including things like it and textbooks. what happens ina like it and textbooks. what happens in a situation like this, when there isa in a situation like this, when there is a landscape of cuts, morale is very low both for the pupils and the staff. that is the kind of environment that schools are becoming. so you have actually removed some subjects from the

el incidente ocurriÓ en berkshire drive.n involucrados en el incidente pero lograron escapar. la orden ejecutiva de la administraciÓn de retener y suspender fondos favorables de las ciudades santuario preocupa las organizaciones sin fines de lucro. lo que pasa es que existe una subvenciÓn federal proveniente del departamento de vivienda y desarrollo urbano que es vital para las agencias no lucrativa. el problema es que el foro dos primeras eran el gobierno municipal es antes de ser repartido. >> el procurador general dijo ayer que la subvenciones que estÁn en juego son solamente del departamento de pero organizaciones tienen miedo porque la orden ejecutiva es bastante amplia y cualquier cosa puede pasar. >> una especie de ultimÁtum a las edades entrarÍa por -- las ciudades santuario por el procurador federal. >> por el alcalde reiterÓ que la advertencia sÓlo aplica a subvenciones del departamento de justicia para cine policiaco, no a fondo para desarrollo econÓmico que tan sÓlo en san josÉ suman mÁs de 8 millones de dÓlares

major police activity on berkshire drive. the man there is in custody right now. crew at the scene says police were called to the area on a report of a man inside of home with a weapon. police surrounded the home on the 1100 block and were able to detain the man. residents in the area were told to stay inside during the police action. it is not clear what led up to the confrontation or what charges, if any, the map will face. updates on the story online and on air as available. >>> well, happening right now, hillary clinton, r and more in francisco along with thousands of women. it's a conference all about celebrating strength and working for gender equality. abc 7 news reporter is live at the center for us. hey, amy. >> reporter: hi, good morning, i had a great time getting to see you here this morning. i was so glad to see you smiling face. abc 7 news anchors and reporters are here in huge numbers and we're proud to be here. check out the on the stage this morning, interviewing actress and activist dawson, a hit with the crowd, and other names this morning with

steve: we don't think of it this way but berkshire halfway is 11% of the index. heavy concentration at the top of xls in names that are not strictly as exposed to this stuff. thank you for coming in. scarlet: thank you, julie. we have much more coming up. this is bloomberg. ♪ mark: i'm mark crumpton. time now for first word news. senate hearings began on president trump as nominee for the supreme court, judge neil gorsuch. republicans are trying to get enough democratic support for the 60 vote threshold. if not, they have indicated they are willing to donate the threshold and use a simple majority vote to confirm him. rish premise or theresa may will begin the formal brexit process on march 29. a spokesman says the u.k. wants talks on leaving the european union to begin promptly. meanwhile, she does not intend to call an early election. nuven video from the associated press appears to show the moments when a suspected islamic extremist grabbed a soldier from behind in paris last weekend and a brief stand -- standoff that shut down the airport in the french capita

. >>> tonight in berkshire hathaway cou-- berks county a reverend is facing charges in the death of awo-year-old girl. her parents denied her medical treatment. reverend roland foster is accused of failure to report child abuse. according to state law, according to clergy he is considered a mandatory reporter of child abuse, if you know about abuse you must report it. this comes after two-year-old leal graves died of pneumonia back in november. ella's parents, jonathan and grace foster are charged with involuntary manslaughter and child endangerment. they say their faith forbids any kind of medical treatment. >>> the recent death of a detective is prompting change at the upper dublin police department, specifically how evidence will be handled. an investigation following the officer's suicide revealing a missing stash of evidence including drugs and cash. they say the detective had been stealing the items from the police evidence room to fuel his hidden drug addiction. a new security system will be installed with cameras. there will be multiple people involved in cataloging evidence.

berkshire hathaway? in the house gop proposal of carried interest. administration has stated multiple times that a goal of theirs is to eliminate the special tax treatment of carried interest whether it is a for specificrease taxpayers. overall it is actually a small component of taxation in the united states. we are talking about a tax increase of about 15 to $20 billion over a decade compared that movestax plan around a couple trillion dollars over a decade. walk us through the timeline of these proposals. guest: not entirely sure. i think after the failure to repeal and replace aca, it did put the attention on tax reform. we still don't have legislative language for the house gop plan. we don't have a walk us throughe timeline of these proposals. guest: concrete proposal from the trunk campaign or trump administration. we do have campaign proposals from trump. we were promised an additional plan a couple weeks ago and we have yet to see that. it's hard to put a perfect timeline on this. one thing to keep in mind is that tax reform is quite difficu

warren: i send out a letter every two years or so to the managers at berkshires, and i basically say,gal obviously, but also do not do anything you would not be happy to have written on the front page of the newspaper tomorrow morning to be read by your neighbors and friends and family. and i tell them one other thing, look, if the reason you are doing it, if the reason you give me why you are doing it is, everybody else is doing it. that is not good enough. if that is the best you can come up with, there is something wrong with what you are doing. it is not can we do it. it is should we do it. it is important in all aspects of life. i've heard more dumb things rationalized by the fact that the other guy is doing it and i tell them, if it is close to the line, it is over the line. nobody can see the line that well. i'm 80 years old, and my eyes are going bad, so do not do anything close to the line. it makes me nervous. terre: the post-crisis response has included lines upon lines of new laws and regulations, including increased capital and liquidity positions for financial firms. and

the cat skills, berkshire, this is 18 plus inches of snow. someone has a chance of getting two feet of snow. this would be a big one for them. lower totals in philadelphia, d.c. and new york where the kids did get the day off. it is nasty with the sleet, but they are not seeing one to two feet of snow. >> bill, thank you very much. >>> president trump gave the cia the power to carry out drone strikes citing u.s. officials they focus mainly on syria. it reverses an obama era policy to carry out drone strikes and limited the cia to drone surveillance already. they have carried out strikes on the new policy, including one that killed a senior al qaeda leader last month. neither the pentagon or cia comments. >>> headlines across the country saying millions of americans could be on the cusp of losing health care coverage after a health agency plan to repeal and replace obamacare. 24 million uninsured over the next decade. supporters of the plan are scoffing at the estimate. democrats and republicans have ammunition over the fight over health care,

for correctly picking the first 29 games of the basketball tournament's first round.( mark ) the berkshireicked the winners of the 31st and 32nd games correctly. the 30th game.. between marquette and south carolina, cost him big time. if he had correctly picked south carolina to win, he would have pocketed 1 million dollars with a perfect first-round bracket. berkshire hathaway didn't release the employee's name.( darya ) the ultimate prize of buffett's competition is 1 million a year for life. to win that, you have to pick the winners of all 32 first-round games, plus the 16 games in the second round. buffett has held the competition ( james ) coming up... i'm tracking the storm this morning. rain hitting all around the bay area. we have complete team coverage up ahead. in our suvs, you feel every mountain we've ever conquered. in our sports cars, you feel every podium we've ever climbed. and now, they've come together to create something you've never felt before. introducing the glc coupe. part suv. part sports car. all mercedes-benz. (vo)have to happen?idn't i didn't see it. (vo) what i

>> berkshire hampton all off the delays are scrolling along the bottom out of ys ourare scr you can also find them on ourn o web site fox5dc.com and our fox5 news app. a >> president trump expected to unveil his first budgetveil hirt proposal as commander-in-chiefmf today. than more 1 trillion-dollar budget expected to boost defense spending while cutting budgetsbi for other agencies. fox5's melanie alnwick livenwic on capitol hill with more.with m good morning, mel.ng, >> reporter: good morning,orte guys.ing, yeah, even though that thatugh t official budgetary lease isetara scheduled for this morningled fo members of congress and.r thers media ganod.t a little preview v i can tell you that iti is not t going to go over well with w some members here on capitol hill. president trump's first budgettu certainly is very heavy oneavy defense spending.sp it features the largest military infusion of moneyof moy biggest spending increaseincrase since ronald reagan.eagn. that money for troopforroop readiness, the fight againstinst the islamic state, new shipewh fighter jets and weapons but the 54

mountains in all of new england look to get reserve to get nailed from the poconos to the catskills, berkshires, into areas, the mass pike is going to be a mess, lower totals for boston. that was the trend overnight was a little bit more warmer air along the coast which will mean snow to sleet, maybe possibly rain for some people. i haven't mentioned the winds. these winds are going to cause a lot of issues. details coming up. >> you think you're done? >> no, we're not. >> then we're not. thank you, bill. we'll check back in with you later. > republicans could see a setback in their attempts to repeal and replace obamacare. the congressional budget office is set to release its assessful the gop's health care plan with one outside group saying the estimate could show up to 15 million people losing their coverage. it's already getting pushback by white house officials. >> cbo has been very adept in not providing appropriate coverage statistics. >> i love the folks at cbo, they work really hard. but sometimes we ask them to do stuff they're not capable of doing. and estimating the impact of a bill

the last da beginning.nae, is offering his employees, if one of his more than 377,000 employees at berkshireat make it to the sweet 16, that person gets $1 million a year f. [ laughter ] the winner of our ncaa pool gets like a $25 gift ca t that is a very generous win. i mean, n sounds like a great w to make all your co-workers hate one person, though. what do you saifuy if i won that money.osn dynamics. it's a company owned by google. the robot's name is handle. i don't know what they're planning to do with it, but i'm scared. tng moves. it seems to -- it goes dow it dances.s ing. [ laughter ] because it's -- this will be the new uber that will chase and you grab you and take you to your destination whether you want to or not. i'm not sure why but in addition to it being mardi gras, today is also national tooth fairy day.o to celebrate. according to a new survey, they do surveys on this every year, tooth fairy payments are at an average of $4.66 per tooth. it's up 75 cents. million under pillows last year. i think the tooth fairy might be dealing meth or somethg. the ex believe that the too

berkshire hathaway, warren buffett talked about how they were offering berkshire hathaway employees the perfect bracket. only down to 32. >> 16, i think. >> if you get down to the final 16, you get a million dollars. they've been sending the numbers. it started at 96,108. after notre dame, it went to 69,649. this morning, there are only 834 brackets remaining because of the two upsets that went through. >> inside the berkshire -- >> however, there are so many -- there weren't nearly as many upsets yesterday. we'll see what happens today. the chances are very good. >> warren buffett says himself if we have a day similar to yesterday, the same pattern happens in terms of the number of upsets and things like that, odds are quite good they'll have someone win or more likely multiple winners of the $1 million. >> that's where you're going to be calling warren and saying, hi, he's not in? do you know when he'll be back? that's when you're never going to be able -- if they have to pay off, they're never going to find this guy. >> he's going to pay. >> no way. that's how people like him get to

ncaa bracket challenge has a winnerthe multi-bilionaire has a bracket challemge each year for his berkshireployeesa west virginia factory worker won 100,000 dollars for correctly picking the first 29 games of the basketball tournament's first round.he missed only one game in the first round if he had picked all 32 he would have won 1- million dollarsthe ultimate prize is 1-million dollars a year for life for a perfect record in the first two rounds a 49er and a raider team up on the high seasniners offensve lineman trent brown and raiders linebacker neiron ball along with colts linebacker antonio morrison caught a huge mako shark while fishing in floridait was more than 7 feet long and weighed more than 300 poundsthe players headed out on a 4-hour fishing session and just before coming back in they landed the shark this is the silverado special edition. this is one gorgeous truck. oh, did i say there's only one special edition? because, actually there's five. ooohh!! aaaahh!! uh! hooooly mackerel. wow. nice. strength and style. it's truck month. get 0% financing for 60 months plus find your

they predicted that it would be the next berkshire hathaway. at $10.70 per share right now. just to put this in perspective for you. the plus percent from its peak. yahoo is releasing the details of the chief executive. according to filings. meyer will receive a 23 million-dollar severance package. she will remain as the ceo until the deal closes. verizon demanded at 925 million-dollar discount on the purchase after yahoo was hit with two massive security breaches. they ultimately agreed to reduce the price by $350 million. shares of you who are up more than 20% so far this year. >> facebook wants to keep users safe from the eyes of surveillance tools. a canal -- no longer be used. the move cuts off law enrcement from information allegedly used to monitor processors and comes after the organizations raised concerns about privacy on the social network. the aclu recently showed documents about how they were there. facebook stock up 21 percent. it hit record high after record high. >> we are tracking the blizzard conditions right here in the northeast. dozens of flights cancele

berkshire hathaway will go up he 11%, 12% in stock. warren owns berkshire hathaway stock.1/2 billion dollars richer. he is the second most wealthiest man in the world right now. stuart: he is up 9 1/2 billion since the election last year where he backed the losing candidate. liz: right. stuart: he backed the losing strategy. liz: that's right. stuart: he is up nine 1/2 billion. how about that? berkshire hathaway, 166 as we speak. got it. >>> building up the military presence in the mid-east. yes, we are. we'll tell you how much more troops are heading overseas right now. they are, you no. >>> fake news question mark? fox news zan hannity's tweeting yesterday after appearing on cbs sunday morning. fake edited news. cbs released unedited 45 interview seeing bs games you play in the edit room. i dare you. we'll show you the exchange with veteran journalist ted koppel that prompted his ire. all in the second hour of "varney & company" we're now in. ♪ stuart: i'm going to use the word only, we're only down 130 points t could have been a lot more than that given the political ba

. >> march madness will pay off for a berkshire hathoway employee, warren buffer federaln dollars to16 basketball bracket. >>> get ready to blow your horn or rather your shell. details on the annual conch shell blowing contest. >> it's adoption day at the burlington county animal shelter where 77 of the dogs taken away from the puppy barn are being adopted out. i'm nora muchanic. i'll have the happy story coming up next. >>> those stories and the exclusive accuweather seven-day forecast and much more when "action news" continues. >> hamming now on "action news," what may have led up to this tense moment caught on camera inside the white house. new details about a family dispute that ended with one person in the hospital and another under arrest. >>> plus, spinning to help children with heart conditions, "action news" is live at the philly spin-in with all the details. >>> more on those stories, but first a check of the accuweather forecast with meteorologist chris sowers, let's make this quick, criminals, because it's -- chris, because it's a cold one. >> reporter: i hear you, i want

he has some powerful partners, 3g capital, berkshire also an investor.a lot of holdings in food. chipotle, the second-largest holding. it took this stake in 2016. sideways since then. it has been a choppy ride admits this food safety situation. he has also pushed for four changes there. finally, on the food front, take a look at the bloomberg for z.nfils -- modele the green line our holdings in the company, how it changed over time. the white line is the stock price. there were various points where he sold out of the stock. this one has also rounded pretty consistently. hyman, thank you for that update on mr. ackman's holdings. republican lawmakers plans to repeal and replace obamacare. the issue of tax reform has taken a backseat but it is next on the trump administration's agenda. one of the key features of the plan proposed by paul ryan is the border adjustment tax. it would cut corporate taxes 25%.5% to emma chandra spoke with alan auerbach, the director of the university of california's tax policy center. he is known as the father of the border adju

>> my question is on berkshire hathaway b, i'm wondering if we're on a downward trend. >> the downwardrend is volatility my friend, my recommendation is buy, buy, buy. >> hey, jim, from paris, texas. blue sky, nice weather, i think we're going to do a little bass fishing in about an hour when the sun goes down, i want to know about an, auto nation, what is your best skinny rogers advise. >> i worry about auto nation and i worry about car max and i've got to tell you, we're going to hear from car max next week, they're going to trade together. [ buzzer ] >> no, no, no. take that as a maybe, car max says they say no auto nation, and me. greg in south carolina, south carolina, very important weekend. greg? >> boo-yah from 80-degree weather, sunny, south carolina, baby. i feel sorry for you the weather we got up there. i was given some money for christmas and i put it into ctl. market cap of about 12 billion. and it's yielding about 9.5%. >> i regard that yield as a red flag, sir, i'm concerned that they might -- i know there's many analysts say don't worry about it. i want to worry about

a passmore and buffett of berkshire hathaway. make another $1.5 billion. amazon shares at 50% in the past year. bezos is $7 billion richer since trump on the election. if you run to the richest men in the road from the bill gates net worth of $86 million. ortega, 74 billion launched the clothing line. mark stucker burke, founder and ceo of facebook comes in at number five. lea: time now for sports. the golden state warriors taken on the san antonio spurs with kevin durand sidelined with a knee injury. lawyers looking for their first win of the season against the spurs. the spurs come out firing. danny green putting on a show with outline, not to, but very the 15th round. nothing going right for the warriors. the game assets. golden state on 22 of one point. here they come. matt byron sidestepped for three. next, clay thompson comes up the screen and has lululemon in the corner. warriors down three at the half. third order, bill three. he scores a game-high 29. golden state consult the way way back to win. 110-98. in orlando, russ

points the adirondacks, berkshires and areas around boston northward to concord. concord could end up with 6 to 12 inches of snow. the southern end could see strong thunderstorms this afternoon into this evening. slight risk of severe storms from d.c. down to the north carolina coastal areas. rest of the country isn't too bad. just the travel delays, you name it, an ugly friday. >>> still ahead, roger federer will battle his way into the miami semifinals and a baseball game that got all the buzz last night. ♪ ♪ everyone deserves attention, whether you've saved a lot or just a little. at pnc investments, we believe you're more than just a number. so we provide personal financial advice for every retirement investor. introducing new depend silhouette active fit, with a thin design for complete comfort. they say "move it or lose it" and at my age, i'm moving more than ever. because getting older is inevitable. but feeling older? that's something i control. get a free sample at depend.com. breathe easier with your vicks vaporub. soothing cough relief that starts worki

buffett, the billionaire, is offering his employees, if one of his more than 377,000 employees at berkshireathaway correctly picks all the teams that make it to the sweet 16, that person gets $1 million a year for life. not you guys. [ laughter ] you have to work there. the winner of our ncaa pool gets like a $25 gift card to olive garden. that is a very generous win. sounds like a great way to -- what do you say if you win, thanks, boss, i quit? this is what i would buy if i won that money. a robot at boston robotics, a company owned by google. the robot's name is handle. i don't know what they're planning to do with it but i'm scared. watch how this thing moves. it seems to -- it goes down stairs, it can go out to the mailbox. it dances. i think maybe they put michael jackson's ghost in this thing. [ laughter ] because it's -- this will be the new uber that will grab you, take you to your destination, whether you want it or not. i'm not sure why but in addition to it being mardi gras, today is also national tooth fairy day. so go eat a tooth or something to celebrate. according to a new s

. >> this is a hit to warren buffett, berkshire hathaway's ceo, who we learned this week is really thepion, the greatest of all time in tax avoidance in the history of business. last week he released his tax returns, challenged donald trump to do the same. thanks to a leak this week, we learned that donald trump paid more than 20 times in 2005 what mr. buffett, who's much wealthier with, paid in 2015. so you can think of the greats in other fields, michael jordan, joe montana, tax avoidance, warren buffett's the best there ever was. paul: alicia. california, they've done this on the pretense that there's a teacher shortage, however, thousands of teachers in california are getting warnings that they could be laid off principally because pension obligations are too high. but there is no teacher shortage in california. the real problem is there aren't enough good teachers. paul: all right. dan. >> i'm giving my miss to the great debate over whether the russians did something to the election of 2016. the justice department has just indicted four russians, including two from their intellige

give up, the recent gain, here's a name that's a 14 forward pe, an incredible uptrend, support from berkshire hathaway buying every dip. >> it's not the om one in there. i would put apple in there, cisco system, qualcomm. the nice thing about tech is is no matter what type of investor you are, there's a segment of tech for you. you want to be a growth momentum guy, netflix is right there for you, so the facebook and i know there's fundamentals as well. >> news alert with meg. >> hey, scott, we're looking at forward pharma, those shares plunged before being halted on a patent decision in a case it's fighting on the multiple scler oasis drug. biogen getting a little pop on that. in other patent news today, we just updated folks on acorda. that stock falling on a decision invalidating four of its patents. so a lot of negative patent news driving tech stocks today, all negative, except for biogen. >> risks and rewards of theodse stocks. what about health care? second best performer of the quarte quarter. >> which i think surprised everybody. people get so negative. they get so despondent. it's al

it's usually telling us something. >> i'm impressed you're picking up berkshire b shares after they wereast 12 months. >> on a relative price to sales -- we already owned it. we're just adding to the holdings. it's about a 3% holding to us. we've been selling some of the regional banks and jpmorgan, some of the money centers are approaching our sell ranges. >> okay. dennis, meanwhile, a bunch of deals here to talk about. intel and mobileye, smaller ones, oil field services types of things. it does feel like between the ipo activity and the deal making activity there's definitely more activity in general this year. >> you know, it's such an interesting contrast, kelly. right now you have intel being hit by 2% in the market after the mobileye deal. $15 billion for a company employing only 660 people. the revenues in the last 12 months were only $360 million. it's a big number by any way you stretch it. but if you believe in the view that the market seems to be taking that growth is here, that opportunity is coming, then you have to at least be comfortable with this sort of purchase. i like

and we had bought a small house, second home, up in the burk berkshires. it's western massachusetts and looks like western north carolina. it's the same mountain range. and we would go there a lot and i spent a lot of recovery time there, walking in nature,y walking the mountains and the hills, taking a breath, and joan enjoying my life mitchell brother visited. he was a minister and stayed four days. we reconnected in a way we hadn't since childhood. we got to know each other. it was magical. and i started as i would walk the mountains, being filled with gratitude. and happiness. i was surprised by joy. if you know that become. that bo it was revelatoriy and it never would have happened if i had not had cancer. i'm not an advocate of havingld cancer but i'm saying, as bad as this was and as bad a kind of sentence i was facing, was there were positives to come out of it.re big positives them worst day can translate into what was a great year. a great year of growth for me personally. a great year for all of my relationships. and i just want to say, i hope

in his recent annual letter for berkshire hathaway, warren bu buffett said this, if a statue were evered to the person who has done the most for american investors, happened's down, jack bogle. and the idea he had in writing the princeton thesis in 1931 has blossomed into what is it today. today, he oversees $31 trillion in assets and jack bogle has earned distinctions over the lifetime, and "time" said that he is one of the most powerful and influential people, and "fortune" listed him as one of the four giants of the century, and institutional investor has given him a lifetime achievement award. i spoke to him at his office outside of philadelphia. >> reporter: we live in the climate of political unsecertaiy and some say instability, and the market yet has been on fire, and help me to understand that disconnect. >> well, we reliving in a time of political instability and financial instability, and calling into question something that we have not faced in the united states very often. have we lost the ability to govern ourselves? this is going back a couple of congresses, and not the

the berkshire hath away and it was over 250 a share and now as we see, it is below $12. ♪ le pen rose he is right behind her and now for more on the possible scenarios which she could win. we are going to deutsche bank. this matters and the reason you are putting together this with s because it matters a lepen victory. >> has a very small chance of winning, but if she does, euro zone will be breaking up. joe: we look at the polls. and first round, le pen and next round and doesn't seem like she has a chance. you have taken another approach in which you have layered on top of each other very potential voters that she can draw from, some from the left wing candidate and some other candidates. and it is plausible she could get to 50%. explain the work. >> the definition of a stress test. and when you look at small candidates on the far left, 19% chance that voters are going to te for le pen and you go for people who say they are not going to vote and it maybe shameful for le pen and take these people who are not going to vote and assume they are going to vote for le pen. and people on th

he was wonderful and we had bought a small house, a second home in the berkshires, i don't know if you know that area, western massachusetts it looks a lot like western north carolina, the same mountain range and we would go there a lot and spent a lot of recovery time there, walking in nature, walking the mountains and the hills, and taking a breath, and enjoying my life. my brother came and visited, i told you he was a minister, he stayed four days, we reconnected in a way we hadn't since childhood. we got to know each other, it was magical. and i started, as i would walk the mountains, being filled with gratitude and happy neines i was -- i was surprised by joy, if you know that book. it was revelatory and it wouldn't have happened if i hadn't had cancer. i don't think you should have cancer, i'm not a believer in that, not an advocate of that. i'm just saying as bad as this was and bad as a sentence i was facing was, there were positives to come out of it, big positives. the worst day can translate into what was a great year, a great year of growth for me personally, a great year f

then you get into the berkshires where we see the higher totals. some specific amounts for the cities, d.c., four to eight. again, it's a really sharp gradient to the south of the city, a lot less. to the north, a lot more. baltimore, you're on the steep gradient. notice philadelphia still heavy with a chance of a foot of snow. the lines when they pile up like this, i mean, southern new jersey will get one inch. and then we could get 18 inches in northern new jersey. new jersey is not that big of a state. there's a high buff potential when you get that steep of a gradient on the coast. boston, 8 to 12. worcester, you could see 18 to 20 inches. hartford could be a jackpot at 16 to 20. new york city, 12 to 16. if new york city gets 18.1 inches of snow, it will be a top ten all-time snowstorm. also, the biggest march snowstorm in history was back in 1888. that's the one you see famous pictures in new york city of, that would be 2 inches of snow, 22 inches of snow. here's the timing at 7:00 a.m., to just about this time tomorrow, the really heavy snow

about 6-inches of snow and all throughout massachusetts it's been about a foot of snow but in the berkshirend some other spots, they're thinking maybe up to 2 feet or 3 feet of snow. the concern now, though, is ice and slush. now take look at this much this is the slushy, i'm sure you guys are seeing out there in pennsylvania. and this stuff is going to freeze overnight. and that is why the mayor of boston has actually canceled public schools for tomorrow. just out of caution because they figure buses and schoolbuses on the roads is not good as well as the fact they've got to pick up, you know, kids will be out in the street and they just don't want that. no school tomorrow. but businesses and city offices will be open as of tomorrow. again, with the snow here's a big concern is also power outages. we're talking about some 65,000 people in massachusetts without power. and of course, that is from the heavy wet snow causing power outageoutages those obviously tm limbs falling on power lines they're trying to get power through the date and night. people have been staying off the roads they've

you had years to decide this is probably not going to be the next berkshire hathaway, which is what ackman once said. he said a platform could be worth $330,000 a share. the whole way down you had ample opportunity to second and guess that thesis. so, i think, you look at $9 billion at and you look at long-term capital management and those were very sudden. this was not. >> josh, appreciate you coming to the phone. we'll talk to you soon. >> yep, talk to you later. >> josh brown. >>> bill ackman has been on cnbc many times over the years talking about his investments. here's just some of what he said. >> when you understand the operating fulosia philosophy an into the mold of an investment. that's what got us interested in valeant. >> this is not a good thing on your resume. i'd go find another job. >> i think the best name management team under famed railroader. this is his third turn around. the most profitable railroad in north america and he's done an incredible job in a very short period of time. burger king was far, far behind mcdonald's call it four years ago when 3g bought the comp

responders found 26-year-old michael shane watkins bleeding profusely from a gunshot wound to the head on berkshire avenue in bridgeport, connecticut. he died shortly after arriving at the hospital. police are still investigating the shooting but they believe he is -- they believe he was the innocent victim of a robbery that went bad. his friends said that shane is someone who was always laughing, who was all smiling, was a caring person. a neighbor said shane was always upbeat, always joking, always smiling. this was a good kid. he was a dedicated family man, a longtime employee of the local stop and shop. shane watkins is one of those 86. 12-year-old kenari was playing basketball with friends in illinois at henderson elementary school. a stray bullet hit her on february 11 and for four awful, agonizing days kenari sat lying unconscious in the hospital with a bullet lodged in her 12-year-old spine before she died on february 15. her family released a statement that said, quote, please keep your children close and do whatever it takes to protect them from the senseless gun violence in our city. tha

i remember when berkshire hathaway did nothing for like ages.f you're a professional investor at a hedge fund, this waiting can be unnerving. you have partners in your fund calling you regularly asking what you're doing with their money. they don't want to hear you own a whole bunch of stocks that aren't moving up at once. but individuals have no such pain. individuals can sit on stocks as long as they want. unfortunately when i counsel patients, many individuals get antsy. they want a tesla, a netflix. they want the gains, get it now. give me mobileye. i say some of the best stocks require some incubation. do you know how patient i was owning intel? for 18 months i watched it do nothing, paint dre, paint dry, paint dry. nothing at all in the late 1980s. but i held on to it and i believed. a common strain of those who would call regulated asked how i was doing. later in my career when partners hounded me daily, i would never have held on to an intel that long. lots of stories take a long time to incubate, to develop. lots of turnarounds take 18

all snow hudson valley through the berkshires.st connecticut, that's where the highest totals will be from albany back to utica, syracuse, saratoga springs, the areas north of the mass pike get a lot of snow out of this. boston, by 5:00 p.m., you move to a period of rain. boston gets heavy snow this morning, then sleet, then rain, probably snow on the backside. so an absolute mess for those areas. that's why as i mentioned, the snowfall totals are very, ve very -- they vary greatly in a short distance. in areas from the new jersey shore, that's zero. one you are passed philadelphia, you're talking the possibility of 18 to 24 inches of snow. we have d.c., we'll move through the snowfall totals if you are just coming back with us, additional snow in d.c., maybe only an inch. that's it. baltimore, four to eight. further to the north, we have lowered totals for i-95 including new york and philadelphia. but once you get to the north of those areas, this is as big of a snowfall in areas of northern new jersey and the hudson valley. >> t

the man — who was arrested this morning in newbury, berkshire — hasn't been named, but it's understoodrway in belfast to try to form a new power—sharing government. the two largest parties, the democratic unionists and sinn fein, are still divided over a green energy scheme that led to the collapse of the previous administration. 0ur ireland correspondent chris page is at stormont. how much progress are they likely to make in these talks? there has been a lot of activity today. the members of the assembly who were elected last week are moving into their offices today, but there is no guarantee they will be able to take their seats in the assembly chamber just over a able to take their seats in the assembly chamberjust over a there. the future of devolution remains uncertain. today has been the start in earnest of talks to try to restore devolved government here. james brokenshire, the northern ireland secretary, has held bilateral meetings with each of the top five parties here at stormont, and in the last hour, there has been and in the last hour, there has been an meeting which has t

it is that by 3g capital and berkshire hathaway is another high-profile investor this has turned outetter for ackman that has valeant thus far. chipotle.od bet is the stock has pretty much gone sideways as the company has been volatile, as you can see here, dealing with the food safety scandals plaguing it and trying to come back from that. in this case he has reached an agreement to add four new members to the board. he is pushing for changes to occur at chipotle. these are couple of examples of his various holdings. like anyone come he has had some wins and losses. joe, it seems like some of these losses have been a little more high-profile for ackman. joe? joe: thanks, julie. for more on exit scenarios, i want to bring in an expert on the subject. fabulous on the delhi is an adjunct professor at columbia fabioss school -- salvodelli is an adjunct professor at columbia business goal. turned into as close as a complete wipeout as you can get. matt levine did a calculation -- he might have lost more than .00% of his total investment how often does something like this happen in the ac

if you want the blockbuster totals, areas with tons of snow, hudson valley, catskills, berkshires andcod. mika, we didn't talk about the winds. we will see scattered power outages, areas of long island as we go through the rest of the day. back to you. >> bill, thanks very much. we'll check back in shortly. in a moment we'll get to white house stumbling to walk back the president's wiretapping claim. that comes as a study by nonpartisan cbo making republican plans for overhauling health care and even tougher celine within their own party. the report finds that the number of uninsured will increase by 24 million people over the next decade. 24 million. the ranks of the uninsured will grow by 14 million people next year. the three major factors the bill takes away the current penalty for being uninsured. so more will opt out from buying insurance. the tax credits in the gop bill are less generous than the current subsidies, so purchasing health care will be overall less affordable. some states will roll back their medicaid expansion so there will ab decrease in coverage for low income p

berkshire is also a shareholder. this one clearly has been more of a winter.est holding of pershing's. this is quite a different story. vonnie: bill ackman might make the argument restaurant brands is listening to me, valeant did not. he might consider valeant is a because obviously they were going to make the changes he thought were necessary. julie: i think the situation with valeant is it might have been unredeemable at that point. making the changes he proposed would not have made a difference. vonnie: tell us about some others. julie: chipotle, his second largest holding. he told shareholders that he took this stake on august 15 of 2016. around thisng more area and chipotle has had a pretty rocky ride, following its food safety issues that the company has had. has pushed foran changes on the board and the stock has been recovering to some extent. this one, if you take a look at the bloomberg, it is a bit more difficult to follow, this is historical holdings, white is the stock price and green is his holdings. he bought some, went to zero and then bought a

how much do retailers follow berkshire or warren buffett. >> warren buffett is the biggest celebrityn the industry. people will follow what he does. that said, you will see when he speaks about a stock people go into it. one of the things that retail clients have started to discern, he had more money where his time frame could be different. they are trying to make a decision for a few months. it could be a few years. everyone has different time frames. not that he's not one of the most brilliant people but matching up time frames. >> your clients tend to be more like traders as opposed to investors? >> we are pretty split. one thing if you look at the index it looks at people engaged with the markets. if you are taking more time planning your vacation than financial health it will be rougher. people who engage once a month are taking it seriously. at least, i should be planning, doing things. that's the most important message. >> the mobile phone made snapchat possible. how many people were trading snapchat? >> i can't talk about that one. we are part of the distribution network. wit

while a very large number for the company the size of aig, 5.6, is a very strong reinsurance by berkshire hathaway where we have a gain of 2.6. i think this is a manageable adjustment and radically reduces the uncertainty around the book value of the company and gives us more secure earnings going forward. >> hancock will remain ceo until a successor is named. while some analysts are optimistic about potential changes for aig, one with an outperform rating on aig says, quote, the change on balance negative as we believe it will further delay aig realizing the improvements necessary to complete a roe, return on equity. >> they got through the first year but they weren't going to let him oversee. >> fended off carl icahn and john paulson who had been calling for this breakup. the shares dropped more. the next day they have to retain their a.m. best rating. there's a lot of pressure on aig. they were not going to give him any more time. >> one of the analysts that i read said that he was concerned that the commercial insurance margins were not -- they are actually compressing. >> there's ple

. >>> and espn reporting a berkshire hathaway employee from west virginia fell one game short of winning a million bucks in the company's ncaa tournament contest. warren buffett was offering the million dollars for anyone getting all 32 first round picks correct. and $1 million for life for picking the first two rounds correctly. the employee picked marquette to beat south carolina in the first round and south carolina won by 20. however, guy, we should note that he did get a $100,000 prize. >> nice consolation. >> a nice consolation. i personally think it should have been more like $500,000. i mean that's not easy. >> i'd take 100 grand. >> oh, of course. >> thank you, sue. >>> last hour i spoke with ibm chair ginni rometty and we talked about doing business in china. they just had a cloud deal announced and the relationship going forward between that country and the u.s., take a listen. >> we've been a long standing member in a company that has done business in china for well over 30 years. and in fact have a very good business there and we do business in many of these countries around