there may be critics of berkshire and buffett, but you won't find them here. >> buffett tried to gett he called a credentialed bear and someone shorting the stock to come and ask tough questions, but none were combrisly enough. >> you couldn't find a bear? no critic of berkshire? >> oh, there are plenty of of critics, but they don't want to seem to put up their money. >> still that didn't stop shareholders from wondering about plans for his $50 billion pile of cash, aside from a canadian energy deal, he hasn't made a significant acquisition since he invested in heinz ketchup a year ago. >> how important is it to do a big acquisition and do you have something in mind. >> i can propose, but the other person has to say yes. >> never mind about the next big deal, the real question is how long buffett will keep up this pace and what happens to berkshire when he's no longer running the show. buffett is typically mum on the subject and for now he still enjoys being in the center of things and staying on the move. >> what more do you want to do? berkshire is an unfinished painting and i'm go

we have buffett biographer, andy patrick. wait until you see the very first meeting berkshire ever held, in a calf fear yaw and card tables. buffett's long time broker, citibank's john frowned. the major change in warren buffett's investment style that started to show itself this year. david, a rare interview with buffett's again re insurance. how that profitable business is doing. if you wave this things this, is life and times. andy constantly updates it. david: that is whole style encyclopedias. it is huge. thanks, liz. a lot to talk about the markets. scott black of delphi management. he is here in new york. craig johnson of piper jaffray. mike gerka in the pits of the cme. mike, i want to start with you. we usually start by talking stocks but i want to talk bonds. bonds volume was extraordinary. what is going on there. >> that you highlight that i see a 2.59 print in the 10-year yield. it surprise me volume will continue to pick up as long as we see pressure in yields and rally notice markets for a reason. that is more o

no, then warren buffett, i met the guy. i leave it at that. liz: going to central high school, public school, like any other kid in america? >> we were any other kid in america at that point. >> i would say a school like central high school does have ground view. there is adversity. the academic excellence, the fact that it is an urban public school and urban public-school that works and i think the kids -- it gives you a grounded in this and sense of self and a sense of the real world that you don't get in many schools. liz: no parent -- we should look at coke's stock barely moving, pretty flat. interesting to see how serious howard was. that was warren buffett's decision and it stands. it is of free country and if he chooses to abstain on voting for compensation package that is the way it is. he was not happy. pain-free. howard doesn't look like he gets a angry but it is an interesting moment. coming up warren buffett himself with his kids and a fox business exclusive. about 45 minutes before the closing bell rings. the f

we have enormous respect for buffett. >> i know you love warren buffe buffett.what you're saying here, you don't have a problem with pay for performance. in other words, if there's a company let's say that puts into a ceo compensation some type of number where it is just simple math five years later that he accrues $50 million worth of company stock which would dilute shareholders at some extent. you don't have a problem if a guy makes $50 million. am i right about that? or just in general no one deserves that much. >> no, no, no. people should get paid for doing a great job, andrew. >> andrew wouldn't ask that question. that was joe. >> joe, we have bad ifbs. we can't hear. >> sorry, joe. you're right. people should get paid for doing a good job. it all has to be laid out. look, you're a great journalist. you've been on tv a long time. you should make a ton of dough. but the the thing is it can't be too easy. and you cannot take lots of money from shareholder pockets and just put it -- >> you're making a lot of sense now with what you said about me and everythi

warren buffett, charlie munger and bill gates.with us the first hour of trade for the market. a big exclusive to have them in the first hour of trading. their opinions definitely matter and move the market. send me a question. tracy: that is awesome. i'm loving interview in the school also. thank you. dvr if you cannot catch us live, have a great weekend. >> what a week. first, we learn that china taking over as number one economic power in the world, then we learned that the administration may have misled us about benghazi. only 67% of obamacare envoys have actually paid for coverage. tonight, if the white house thinks this job report is going to erase all that company may have another think thing coming. i am david asman and four neil cavuto. all they we have been hearing everyone celebrated new jobs

buffett has a lot of fans. you can hear the story of ryan morris and how buffett changed his life.an check it out on any of our mobile apps. embracing newboth media and holding onto the old. a love-hatezaria as relationship with social media. that's next. ♪ ofyou have all kinds competition. at the head of the disney sports network espn trying to survey the landscape starting with comcast-time warner. clicks we have long-term deals with both and we expect to be in business with them. our job is to create packages with great value. >> could you see yourself doing some sort of deal with aereo? >> i don't think so. what netflixook at has done from an outsider perspective, what do you think? ande have a better product it is our job to tell the story that it makes the best possible .ay they built the product on the infrastructure that the issue bidders built in the content that they created. more and more subscribers are offering for it net delivered video and basically cord cutting. there's a lot of value in the bundle. they choose it is the first option for entertainment. behink it wil

warren buffett, charlie munger and bill gates.for the market. a big exclusive to have them in the first hour of trading. their opinions definitely matter and move the market. send me a question. tracy: that is awesome. i'm loving interview in the school also. thank you. friday night, buddy. you are gonna need a wingman. and with my cash back, you are money. forget him. my airline miles will take your game worldwide. what i'm really looking for is -- i got two words for you -- re-wards. ♪ there's got to be better cards than this. [ male announcer ] there's a better way with creditcards.com. compare hundreds of cards from all the major banks to find the one that's right for you. it's simple. search, compare, and apply at creditcards.com. first round's on me. ♪ ♪ know. >> i am banning mr. sterling for life. >> the ceo, brendan eich, has been forced to resign. vilified for his work. what is okay to say? the airwaves are filled with fluster and defeat. >> the hash tag cancel koger is trending.

we are back with warren buffett.arren, after the shareholders meeting this week, we talked about 38 to 40,000 shareholders here, and there are a number of really interesting people to see in the audience. kathy ireland was there tossing newspapers with you on saturday morning. >> she was a newspaper carrier before. >> she did a good job. bill ackman, david winters, many from the financial world, also georgie polo was here. the partnership you have with 3g when it comes to heinz, first of all, how is heinz doing and would you do more deals with 3g and georgie pollo? >> the heinz deal is coming along well. that doesn't surprise me at all. we would not have done heinz by ourselves. certainly at that price. but there's no one i'm more impressed with than georgie and his associates in terms of their operating abilities. so to join them was terrific. and i would love to join him again. and one thing i like about them is they think big. so they are likely to come up with a big one some day, maybe next year or the year after

warren buffett, charlie munger and bill gates.with us the first hour of trade for the market. a big exclusive to have them in the first hour of trading. their opinions definitely matter and move the market. send me a question. tracy: that is awesome. i'm loving interview in the school also. school also. thank you. ♪ oh-oh, oh, oh, la, la-la, la-la, la-la ♪ ♪ na-naa, na-na-na-na-na some things just go together, like auto and home insurance. bundle them together at progrsive, and you save big on both. ♪ oh, oh-oh, oh, oh hey, it's me! [ whistles ] and there's my dog! [gasps] there's my steps! i should stotalking. perfectly paired savings. now, that's progressive. >>> new developments tonight in the benghazi scandal at the center of these coach. s developments, an incriminates e-mail. the white house hastily constructed what was an awkward some might say clumsy defense of their words and actions. the white house now claims there were two, two sets of talking points given to susan rice before she went on five sunday talk shows and fam

buffett, mr. gates and, of course, charlie munger had to say. want -- don't want to miss what mr. buffett had to say about the possibility of relocating berkshire hathaway outside of the united states. not just omaha, the united states. we're going of to have a lot more coming up. the best, the brightest highlights during this hour from, of course, her interview with warren buffett this morning. let's get back to our markets here in new york. we've got traders standing by at the floor show, the new york stock exchange, the cme group and the nymex. ben willis, you know, certainly we had a lot of volatility. i know volume is on the light side, but are we just now kind of digesting all the big data news we had last week? >> i think what we're seeing is we are seeing lighter volume, about 10% below monday for the last quarter, but we are seeing the push and the pull of a marketplace trying to decide how to price a slowing down of the world leader of the chinese economy. we're seeing that continue to decelerate. it's still growing but not as quickly

warren buffett, charlie munger and bill gates.to have them in the first hour of trading. their opinions definitely matter and move the market. send me a question. tracy: that is awesome. i'm loving interview in the school also. school also. thank you. my dad has aor afib.brillation, he has the most common kind... ...it's not caused by a heart valve problem. dad, it says your afib puts you at 5 times greater risk of a stroke. that's why i take my warfarin every day. but it looks like maybe we should ask your doctor about pradaxa. in a clinical trial, pradaxa® (dabigatran etexilate mesylate)... ...was proven superior to warfarin at reducing the risk of stroke. and unlike warfarin, with no regular blood tests or dietary restrictions. hey thanks for calling my doctor. sure. pradaxa is not for people with artificial heart valves. don't stop taking pradaxa without talking to your doctor. stopping increases your risk of stroke. ask your doctor if you need to stop pradaxa before surgery or a medical or dental procedure. pradaxa can cause

our own becky quick is live in omaha for this week's buffett o buffett-bonan buffett-bonanza.be joining us next. t. five tech stocks with more than a 10%... change in after-market trading. ♪ all the tech stocks with a market cap... of at least 50 billion... are up on the day. 12 low-volume stocks... breaking into 52-week highs. six upcoming earnings plays... that recently gapped up. [ male announcer ] now the world is your trading floor. get real-time market scanning wherever you are with the mobile trader app. from td ameritrade. today is friday wittoday, we greet you.app. treat you. care for you. today, you can come to cleveland clinic for anything, everything or just to get that "thing" checked out. big, small, and yes, the best heart care in the nation. it's here everyday, for everyone. that's the power the power, that's the power of today. cleveland clinic. call today, for an appointment today. everything looking good. ♪ velocity 1,200 feet per second. [ man #2 ] you're looking great to us, eagle. ♪ 2,000 feet. ♪ still looking very good. 1,400 feet. [ male announcer ] a f

in the next hour, growing up buffett.z talks to warren buffett's three children and then you don't want to miss this. tune in on monday at 9:30 a.m. for liz's exclusive sit-down with warren buffett, bill gates and charlie monger. i will be there. it will be rivetting. i hope you join all of us. >>> it is kind of an american dream even hollywood couldn't make up. a bombshell report on one of baseball's biggest stars is forcing mlb to finally face the music and to a different kind of american dream, one of the cheese variety, sandwiches falling from the sky and how you can get your hand on them. i can not wait. "piles of money" coming right up latte or au lait? cozy or cool? "meow" or "woof"? exactly the way you want it ... until boom, it's bedtime! your mattress is a battleground of thwarted desire. enter the all-new sleep number classic series. designed to let couples sleep together in individualized comfort. starting at just $699.99 for a queen mattress. he's the softy. his sleep number setting is 35. you're the rock, at

warren buffett's fan club is gathering. buffett will answer questions for more than five answers. -- hours. stephanie ruhle just spoke with steve wynn. we will hear parts of that interview. jobs data in america. the most important economy in the world. some would dispute that. no. yes, it is. >> it is not really going to be the most important indicator. we have wondered whether the winter weather -- whether we eather it.to whether i how strong would have the economy been if it weren't for the winter? right now, wall street is leaning toward the strong side. 218,000 jobs. the people giving us therefore cast of come in even stronger than that. we are expecting unemployment to be down by a tick. we are expecting wages to be up. hours worked, unchanged. we may see upside risk to the report. earnings numbers were strong. >> what is the chance we might see some disappointments? >> probably very small. there is always the chance. statistically, it could be anywhere from 100,000 gained to 300,000 gained and it would fall within the

warren buffett says no way. but it would unlock billions of dollars in shareholder value and release an avalanche of dividends. things we all love in this market right now. he will make the case that some shareholders in omaha were making to warren buffett himself last week at their annual shareholders meeting. >> that will be a fascinating discussion. >>> heading into the final hour of the markets, we've just turned negative. dow is off five points after being above its previous records earlier in the day. we were up almost 100 points. the nasdaq is off .5%. that index down to 4,044. >>> let's get to the "closing bell" exchange. our blue ribbon panel today. rick, what's going on. i know why you won't know why the stock market is selling but do you think that the yields -- the skyrocketing of yields following that bad 30-year auction could be taking a toll right now? >> i think initially there's no doubt that the equity traders and all traders observed that very weak d-minus 30-year auction. if you look at the c

i might pick your question ask warren buffett.instant updates on twitter @liz claman all day standard from the meeting and tomorrow starting at 9 a.m. eastern, we're live with the whole buffett crew. stay tuned, see you then. cheryl: all right, thank you, liz. coming up, something every athlete in your life means, denim jeans that actually fit their muscular body. we have the founder behind a start-up that's heating up and stretching out sporty fashion apparel. that is coming up next. ♪ ♪ humans. even when we cross our "ts" and dot our "i's", we still run into problems. that's why liberty mutual insurance offers accident forgiveness with our auto policies. if you qualify, your rates won't go up due to your first accident. because making mistakes is only human, and so are we. we also offer new car replacement, so if you total your new car, we'll give you the money for a new one. call liberty mutual insurance at... and ask us all about our auto features, like guaranteed repairs, where if you get into an accident and use one of our c

warren buffett, charlie monther and bill gates. choosing your financial adviser, how to find one that fits and who do you trust?" on the money" starts right now. >> this is america's number one financial news program. "the on the money," becky quick. >> here's a look at what's making news as a new week on "on the money." federal reserve chair janet yellen testified before lawmakers on the house and the senate and said though that the economy is improving it still has a long way to go. to most people that means interest rates will stay low for a long time to come and that's good news as far as stocks are concerned. the dow and the s&p 500 had their best day in three weeks on wednesday after she spoke. they were mixed on thursday and rose on friday. earnings season chugs along. pfizer beating estimates, disney bl blew out expectations and tesla foal its outlook and zil low was beat as well. ali banna fighting for its initial public offering this week and is expected to raise more than $15 billion when it goes public. it could be the

that's what warren buffett has said in the past. >> i don't think warren buffett is a cereal guy. i think he's more of a coke in the morning kind of guy, coca-cola. >> and dairy queen brands. >> yeah. >> also a warning for the retirement fund, the target funds that change the investment mix automatically the closer you get to retirement? well, they may be hurting investors who are saving for retirement more than helping them. that's what a new study says, but not everybody agrees with that study's conclusion. it's a story that could affect millions of savers, and we will hear from both sides of this very, very important issue coming up here. >> yes. >> now, again, here's where we stand in markets. it will be another banner day most likely. don't want to jinx it here. the dow has added 25 point. 1670 is the level. the nasdaq a strong day yesterday and giving up 1/10 of 1%. down about five points right now. finally the s&p 500, roughly flat, up two minutes, we've kissed 1900 today. >> here we go. let talk about in today's closing bell exchange, amy wu from rbc capital markets and da

but before buffett gets the credit here, what about david winters?estor who first -- he was the first to call out the compensation plan as eye agr as's agr as's greejous. >> in 2002, coke had a plan that involved 240 million shares. that lasted six years. they had a plan in 2008, six years later, that was 280 million shares and that laftd six years. and then this plan when i read about it was for 500 million shares which they would equate to $340 million. still, 340 or 500. that really struck me as quite excessive. they said they were going to use it in four years. i didn't actually read that until after winters wrote the letter but i would have felt the same way sglp with us now, the founder and ceo of bamco, a critic of activist investors. plus our panel is joining the conversation as well. you have to give david winters credit on this one. he is a shareholder, he's got an ax to grind but he just didn't like this and he enlisted the most famous and influential shareholder coke's got and it seems to be working. you don't like that? >> i would say th

buffett throughout the entire meeting.asking questions with hottest topics starting startinh activist shareholders. take a look. >> i say terrific. come on out and we'll talk about. just help yourself. >> you mentioned about rick wagoner and general motors. you do own general motors stock. does it concern you now that general motors is going through such a difficult, opaque time? >> i had lunch with mary barra just about a week ago and she is dynamite. she is, you couldn't have a better executive at general motors at my opinion in mary. i don't have the stock as one of the two managers but i was really impressed. >> what ceos don't want to do is open themselves up to five hours of questions. >> you know you're growing to get something, you may get some that are unfair. you may get some that are tough. but in the end it can't hurt. it can't hurt. cheryl: liz claman, we'll have lot more from her. go to the website to see everything from there. david: cheryl, time for quick speed reed, with some of the day's other headlines,

so how did buffett do it?'s get insight now from executive compensation expert brent longnecker. welcome, brent, to "power lunch." nice to have you here. >> hi, sue. great to be here. >> talk to me about this. mr. buffett being a very large shareholder in coke and a very high-profile guy said he's generally satisfied. they like the people over at coke, but he didn't agree with the plan. how common is it for this type of negotiation to take place after the meeting is done? >> probably more common than we really think about, sue. again, mr. buffett's an interesting person in that he didn't want to cause any problems at that program. he wanted to talk to management afterwards and he did a good job. it's a whole lot easier to do it that way than to be an antagonist like a lot of people out there. we have to applaud him for how he did it. >> does it put mr. kent in a difficult position because he's trying to retrain and retain talent in an environment that has been challenging in some sectors of their business for

warren buffett versus carl icahn. target's ceo says good-bye, and amazon faces off against google on same-day shipping. that's coming up in today's power rundown, next. over 1.2 billion eyeballs are on us during the two weeks at wimbledon. true tennis fans want to know what's happening, they don't want to just see what's happening, they want to know and understand why it's happening. anybody can just put data up, but we want to get a reaction, make it far more interactive. we rely on the cloud to provide that immersive digital capability. became big business overnight? ♪ like, really big... then expanded? ♪ or their new product tanked? ♪ or not? what if they embrace new technology instead? ♪ imagine a company's future with the future of trading. company profile. a research tool on thinkorswim. from td ameritrade. a reseatoday is mondaynkorswim. today, we greet you. treat you. care for you. today, you can come to cleveland clinic for anything, everything or just to get that "thing" checked out. big, small, and yes, the

thanks for talking buffett- paloza bill. still ahead-- what one market pro has discovered about a cable stock. a private viewing is next in chart talk. matt shapiro,president of mws capital, joins us for chart talk this morning. good morning matt. >>good morning angie. >>you tend to invest heavily in the stock market. you have a portfolio full of some popular names, maybe some not so popular names. and you've been doing well. what do you think about market conditions? >>it seems kind of slow doesn't it? like there's not a lot biting. but there's a lot going on underneath with heavy deal making activity and earnings that actually are ending up in this quarter to be better than what people thought. with the shakeout of the nasdaq and some of the smaller cap companies there are a lot of stocks at 6 and 1 year lows that have earnings catalysts and some of them have really been jumping on unexpectedly good earnings. >>one of the stocks that you're watching is discovery communications. this stock has not performed well. earnings a

he just needed a little help from a billionaire like warren buffett.the couple traveled to omaha, nebraska, for buffett's annual berkshire hathaway weekend and hit up all the billionaire's favorite spots before ending up at buffett's jewelry store. that's where the business icon tried to interest them in a necklace but pulled out a big surprise. >> might be more interesting. >> let's take a look. what do you think of that? >> after a few moments, the shock and a little nudge from the man himself, eric la font got down on one knee. >> will you marry me? >> of course i will! >> thank you. >> yay! [ applause ] >> she had to say yes. maybe warren will buy them a nice little present, too,. >> he owns a diamond store, too? what else does he own? apparently everything! >> apparently all of omaha, nebraska! >>> we have some winds whipping around the bay area today. i think that will be the big weather story into the afternoon. some of those gusts maybe 30 maybe 40 miles an hour. weather system slid through in the sierra nevada bringing some showers up there. e

buffett will be in omaha where 4000 children have submitted business plans to be in the warren buffettecret millionaire's club. the finalists will present their ideas to mr. buffett and a team of judges on monday. grand prize winners will receive $5,000. join us on monday for betty with warreniew buffett. the pace of home construction while 13.2% in april consumer confidence unexpectedly fell from a nine-month high. dean maki is a chief economist at barclays capital. he joins me from his firm here in new york. good to see you here. >> good to be here, mark. of that came from apartment construction. what does that tell us about americans' inability or lack of desire for purchasing single-family homes. >> there are a lot of reasons. the big reason is the homeownership rate in the u.s. has fallen substantially. those people who used to be homeowners are becoming renters. we are also seeing people move out of their parents houses, for theple and going into rental market. that is why the rental market is so strong. >> wages are flat. for all the talk of labor market gains, millions of ameri

that's when buffett help a shareholder pull off a big surprise.e approached a couple looking to buy a necklace. but buffett showed her something a little more sparkly hey there. did you select these things on purpose? not a color found nature. there's nothing wrong with tha. i can hear your arteries clogging. ok. no. this is tap water. i can't let you buy this. oh. crystal geyser please. crystal geyser. bottled at the mountain source. for it's a challengefornia fostto replace clothes that are too small or worn out. i grew 3 inches last year. i don't need anything fancy. i never had much to begin with. when i look nice on the outside, i feel better on the inside. to help, sleep train is collecting new clothes for kids big and small. bring your gift to any sleep train, and help make a foster child's day a little brighter. not everyone can be a foster parent, but anyone can help a foster child. surprise!lcome back. crystal geyser alpine spring water. crystal geyser. crystal geyser. news flash, it's bottled at the source. news flash, we sell it in cas

. >>> up next, we are on the gates, buffett and munger. they might be worth well over a billion dollars, but only a penny for their thoughts. find out what these three old friends think and talk about behind closed doors, also, what has one of the titans so concerned. >> i'm all by myself in this, i feel very lonely. >> and later, getting your money questions answered. is a financial adviser worth the price? how do you find one you trust and what can they really do for you? as we take a break right now, take a look at how the stock market ended the week. >>> ever wonder what they talk about when they get together? we sat down with thee of the world's richest mens. warren buffett, bill gates and charlie munger, we had a wide ranging interview where they talked about their views on the market. >> you have thousands of corporations, some of them are going to be poorly run and some run in a very self-interested manner by the managers. can be a correction, changes needed in corporations, but they're not going to do it themselves. >> charlie, i'

hormones and housing, as only warren buffett could say it.y creation, which will mean more home ownership, meaning the housing market -- >> there is no aphrodisiac like warren buffett. that's what i like to say, nothing sexier than warren buffett. that's it for us today. that's it for us today. "new day" starts now. -- captions by vitac -- www.vitac.com >>> climbing, climbing, climbing, and there was a huge job. the lady three rows in front of me, she bashed her head. >> overnight, a us airways flight has a major air scare. six injured and the plane forced to land immediately. what happened up there? we hear from those on board the terrifying flight. >>> on the brink. the violence in eastern ukraine hits a new level. dozens killed as clashes, protests, even jailbreaks spread across the region. we're live on the front lines. >>> what went wrong? a horrible accident caught on tape. circus performers plunging from two stories high, nearly a dozen injured as horrified spectators watch on. we have the latest for you. >>> your "new day" starts righ

investors look forward to buffett's quarterly report for insights on companies.akes very few changes, buying value stocks and holding them long term. anne-marie? >> jill wagner at the new york stock exchange. thanks a lot, jill. >>> in sports miami heat is are one step closer to a three-peat. lebron james scores 29 points and dwyane wade adds 28, but veteran ray allen makes two huge plays down the stretch. he hits a three-pointer to give the heat the lead with 30 seconds to play. and with nets looking to tie the game in the closing seconds, allen and james team up for a steal to close out the victory. miami beats brooklyn, 96-94, winning the series in five games. >>> and a disputed call on a tech swing sends seattle mariners manager lloyd mcclendon over the edge. he gets ejected from the game before he even makes his way to argue with the umpire. after getting his money's worth, mcclendon tosses his hat into the crowd. the mariners fall to the rays, 2-0. >>> when we return, a look at the new shows coming to cbs this fall. >>> and fearless feline. a little boy's c

buffett showed the woman a necklace. >> but he handed her that little red box.hat can only mean one thing. >> it might be something interesting. >> let's take a look. what do you think of that? >> oh, my god. >> i would say she was genuinely surprised. the guy made it official, getting down on bended knee. and the couple, huge warren buffett fans. >> is she going to say no at that moment? >>> now, to the national zoo in washington, where four lion cubs are set for their public debut on friday. >> before taking their place, they have to pass a swimming test. zoo keepers put them in the water to make sure they can make it back to land safely. >> luckily, they all did. and now, they can meet their fans. we'd love to mention their names but the three boys and one girl don't have names yet. the idea is they're going to put them in the pen with other ideas. they might get knocked into that water. they can handle themselves. >> look how strong that little one is. >> unbelievable. >> got him out quickly. >> he didn't take long. i'm out of here. >>> and a man outside of

buffett has. but they have an obligation to this great country that set the stage for their success, and that obligation is to be a good citizen, pay your taxes. that's what mr. buffett has suggested. he is willing to accept that responsibility. and if we can refinance student loans, it doesn't just bring relief to these families. it does something else. hannah moore is living in her parents' basement with $148,000 in student loan debt. she is barely 30 years old. the thought of borrowing more money to go to a real college, out of the question. the thought of living in her own apartment, out of the question. the thought of buying a car, no way. for some young couples, even having children is out of the question because of student debt. do you see that when we bring this debt under control, we unleash a positive growing force in our economy where these young people can get back and participate, buy homes, buy cars, become full-fledged members of the economy again. so it now only brings relief to fa

we sat down with one of warren buffett followers.up next. ♪ >> this saturday tens of thousands of investors descend on omaha, nebraska to participate in the woodstock of capitalism. it is berkshire hathaway's shareholder meeting. bloomberg caught up with one of warren buffett's most faithful followers. >> my name is ryan morris. i am 29, managing $15 million. warren has said he lives like he year, except00 a for the private jet. before the berkshire meeting last year to pay our respects to the great church of frugality, four guys who work it has far flew andedge funds, got the cheapest rental car to drive to omaha. hotel in the crappiest have ever been in. you go to these events were they have free drink sent food. night forn to $48 a four of us in the busiest weekend in the year in omaha. old, i had this idea that i wanted to change the world through science. my father introduced this idea that even if you are the best scientists in the world, you will not make fusion happen. it is the guise of the capital who make the decisions. an

all warren buffett eats, by the way, is sugar and candy. the biggest shareholder in coca-cola, so, of course, he's a sugar fan. but when he needs to charge through the crowd -- i want you to look and see, molly, how he simply bashes through the crowd when he's walking this exhibition floor where all of his companies display some of their wares. it's quite unbelievable. he owns a company called justin boots, pretty fascinating, and always ends up at the burlington northern choo choos. pretty fascinating. that was his biggest acquisition ever. he also has a $100 billion stock portfolio. also recently, general motors. and, of course, you know, general motors has had that recall of 6 million cars. here's what he had to say about the developments with that company. >> i had lunch with mary barra just about a week ago. and she's dynamite. you couldn't have a better executive, general motors, in my opinion. now, i don't have the stock. it's one of the two managers. but i was really impressed. she's a car ride. she knows more about cars, and she's

buffett is a paradigm of the virtues of capitalism.-old activist investor started reading buffett when he was 12 years old and has followed him ever since. name is ryan morris, i am 29, i am managing about $15 million. warren has said he lives just like he makes $150,000 a year, except with a private jet. before the berkshire meeting last year, to pay our respect to the great church of quality -- flew tolity, four guys kansas, which is cheaper than omaha, and we got a cheap rental car to drive. we stayed in the crappiest hotel. we go to the events where they have free food. $48 a night for the four of us in the busiest weekend of the year in omaha. at 11 years old, i had this idea that i wanted to change the world through science. the idea totroduced me that even if you are the best scientist, you will not make the future happen. the guys with capital are the ones who make those kinds of decisions. that sort of flipped a switch for me and i opened "forbes is this guy buffett. i started reading his levels. it sounds very simple. it was

i can't imagine warren buffett has made such a great investment.f warren buffett --l from nothing >> he's made enough money where he can pay back all the loans were used to borrow the money to buy sprint and t-mobile, he's had to ro 22 billion and maybe he can pay that money back to the bank. i would imagine he's getting a call from some of those banks saying hello. hittingdent obama is the fund-raising circuit in california. intofundraisers packed three days as he tries to rally democratic support. underscoring the challenge facing the president and his party -- a harvard survey found fewer than one in four young voters say they will definitely vote in midterm races, which is why they're using issues like the page under gap and manipulating some of those numbers to ring more people out to vote. we will see what else they do. moreung people who are likely to vote our republican leading -- republican leaning voters. you hava lot of disillusioned voters across the board out there and if they don't have that galvanizing issue to get them to the polls.

he's cc'd is to warren buffett. this letter is a direct result of the interview that becky did and we did a day and a half ago when he called into the show, because dave winters is furious and he's now asking coke a couple of very pointed, let's say, questions. take a look at what these are. he says, we would like to know whether mr. muhtar kent or howard buffett, who is the son of warren and is on the board, made the compensation committee and the full board of directors awear of warren buffett's views on the 2014 equity plan. did mr. buffett speak with any other coca-cola directors regarding his view of the 2014 equity plan and if so, when? we'd like to know whether coca-cola reached out to institutional investors before the shareholder meeting to drum up support even after it knew its largest shareholder opposed the plan. if coca-cola did reach out to investors, did it state or imply that it received generally positive feedback from other investors? now, coca-cola says its compensation plan offers flexibility but

warren buffett placing his bets on walmart according to the latest s.e.c.> portugal now the second eurozone country to exit its bailout and the prime minister told us that the path of reforms won't stop here. >>> don't forget, these three years were very, very tough. no one wants to spoil the sacrifices we have made. >> announcer: you're watching "worldwide exchange." bringing you business news from around the globe. >>> we've had two days of -- yesterday the worst day in the month for the s&p and dow. futures indicating this morning, don't though what we want to do. the dow is just at the moment on fair value really. as is the s&p 500 as is the nasdaq about half a point up. so not much direction coming from futures, not much direction coming from european equities either which are now around 2 1/2 hours into the trading session. ftse is off search points down 37 points yesterday. xetra dax off 0.1% and flat for the cac quarante and ftse mib is up 0.5%. ten-year yield yielding 2.51%. so with people saying we've got markets close to record highs as we were a

warren buffett's fan club is gathering.tions for more than five answers. -- hours. stephanie ruhle just spoke with steve wynn.

join us monday for the first bloomberg interview with warren buffett.el aviv stock exchange was in turmoil. europe ino exclude the trading index. now it has a new boss. to him andspoke asked about plans to once again euroto the msci benchmark. >> the process was a constituents and ask them whether they should be in europe or not. we plan to go to the same constituents and mark the fact that these of the economies in so tight and integrated it is better for european investors. israeli banks are under valued. they are presenting an opportunity to invest. >> if you were a betting man, obviously you are, what would you wake -- rate your chance of getting integrated on the european benchmark? >> the next six months we will make a huge effort trying to do this. very difficult to tell. if we understand and can get to or constituents of msci commend a decision and try to market them. if we can compete on the european tournament and when it a few times, i think our economy should be part of europe. large -- abecoming larger group exchange? >> i think it is the r

warn buffett's birk hers hathaway holding its annual meeting. our becky quick is there, a lot of news already coming out from the meeting, right, becky? >> reporter: that's right, ty. heading into this is one thing that everybody has been buzzing about, that's warn buffett's decision to sustain -- he abstained from the vote last week that kicked up a lot of dust. we caught up with him last night and asked him more about that. and the management may not be doles those out? >> i wouldn't be surprised that they're going to look at it. with you could abstaining with a fair amount of no votes. what they authorized at least in the meeting the other day. they don't have to do it. they can spread it over a longer period of time. we'll see what they do. they've listened to shareholders before. i think maybe they'll listen again. >> have you talked to muktar kent? >> none of the directors? >> new york city another mean son. >> his son happens to be one of the directors. he voted in favor of that equity plan. warren buffett object stained from voting again

how it fits in with what warren buffett talks about? >> what do we know well where we can dominate the knowledge and understand the business. secondly, what price do you pay for the company and where is your margin of safety? that's the same theme that warren has. >> we have a global approach, we can invest in almost any type of security and we have what we call a trifecta and what we're really looking for is a business with improving economics. management that's working for all shareholders around like all us value investors, a low price. and you know -- >> margin of safety. margin of safety. >> and we think if you do this, what you do is stack the deck in the investor's favor. you take risk out of the equation and look at mario, he's compounded money for a long period of time. very little risk and he's made investors rich. >> there's no question that it requires staying power though because the other aspect is that if you sell something and you're taxable, but not tax free, you're compounding the deferred tax. that's what warren does.

warren buffett. great interview with becky quick today.e he is praising ceo mary barra on our air this very morning. >> she's basically on the hot seat, but it's not a hot seat of her own making. and i don't think there's anybody better that's going to be better at handling it. i think she's terrific. she can run any company at berkshire, that's for sure. >> i didn't hear anyone quote that all day. drives me crazy, that's important what he says there. yes, the recall's a real problem, not denying that. but when you look at the $5.5 billion decline, i think the stock's been punished enough. the company's doing very well. once the recalls are in the rearview mirror, i bet the stock will be able to roar. meanwhile, they're paying you to wait with the notoriously b.i.g. yield, one that's liable to grow. making the dividend bigger over time than it currently stands. alan in new york, alan? >> caller: hi, jim. thank you for taking my call. >> not a problem. >> caller: spo logistics announced their first quarter earnings last week. net revenue gr

if you look at warren buffett, take a look there.kshire hathaway has taken a new 11 million share position. john paulson, also an 8.7 million share position in this stock, and then dan loeb at thirdpoint, put on a 3.5 million share position, all in verizon. on the other side, yes, david tepper's there, as well. he got rid of about 400,000 shares of verizon. so obviously, trades happen, everybody's got a different view. but for right now, scott, it looks like verizon and gm have a good amount of traffic going at least one way, for verizon a buy, and for gm it looks like a sell. back over to you. >> okay, dom, thank you so much. >>> let's bring in ken square, the founder of the 13d activist fund, a fund that returned 36% last year, by focusing on activist investor moves. so, ken, explain to people, the difference obviously between the 13-f and d. you track the ds more than the fs. >> yeah, we track pretty much the ds. the fs are 45-days delayed. ds, on the other hand, when an activist goes above 5%, they have to file a d within ten cal

billionaire investors warren buffett is revealing where he's investing his money. buffett is increasing his stake in walmart by 17% despite its recent profit problem. he's also slighlty upping his position in ibm. add a new stake in verizon. the berkshire hawthaway portfolio is reducing shares of gm, phillips 66 and directv. christie's set a new record in contemporary art sales this week, boosted by asian buying. the auction house sold $745 million in artwork in one night, its biggest auction ever. of the 72 lots offered, 94 percent sold and only four remain. asian collectors bidding by telephone took five of the still to come: are political power plays a good trading strategy? plus... the hot new startup that investors could be getting ready to pour money into. and... talking shop with martha stewart. what the entrepreuner has to say about the push to be all american. that's after this break! can be awkward and uncomfortable. but when their behavior changes, it's time to act. because if we don't, our families and relationships will suffer. listen to the veterans i

buffett has failed to beat the market in 4 of the past 5 years. it should be noted-- he wisely choose not to invest in internet stocks during the 90's and successfully avoided the dot com bomb! and, last year berkshire's profit rose more than 31% to $19 billion dollars. still to come: a trader takes a long shot on an oil company that's tricky to trade on earnings.. plus...with derby day around the corner, where traders are placing their bets.... and, ... is airbnb rolling out the welcome mat for an ipo? find out, after the break! hotels are becoming a thing of the past-- as airbnb--begins to take more space in the hospitality sector. the company offers vacation rentals in homes, apartments and even igloos. chip conley, airbnb.com's head of global hospitality joins this morning. this is a business that started with air mattresses and now has ballooned to a $10 billion valuation. how were you able to do that? >>i think what we've clearly tapped into is an unmet need. people wanted to stay in each other's homes around the world and have more space fo

tavis: what do you say to people like bill gates and buffett who are great philanthropists and used theirod.do a lot i make a distinction between fantastic four-game longest philanthro prime minister py an. against they are not increasing the minimum wage but how and how fast you do it makes andfference says bill gates warren buffett. how do you respond to that? is way overdue. years new since 1968 up and down the minimum wage has fallen beyond inflation. means that workers are giving a winfall to the andoyers year after year not getting that back pay. all they are saying today is well, let's bring it back to adjusted for inflation and in the meantime worker productivity is doubled. modestthis is the most thing you can imagine. and it will put tens of billions of dollars into the economy to stimulate the economy and create more jobs. brainer. is a no schaffl elfed y and rick santorum and romney for a minimum wage. >> how do you respond to the following. out even though you laid the 25 issues in unstoppable the alliance,left right wonderful book, i read it obviously. you thinkues where the