buffett: yes.tween $32 billion and $33 billion of cash, and then we assumed about $4 billion of debt. david: so, to spend $37 billion, you spent a year studying the company? mr. buffett: no. david: how much time did you spend with the ceo? mr. buffett: i met the ceo i think on july 1 last year. and he happened to be calling on certain shareholders. and one of the fellows in our office had had a position in the stock for some time. so it was an accident i met him. if i had been out playing golf or something, it never would have happened. but i went in and i liked him. i heard him talk for 30 minutes. i said to the fellow in our office and tell him that i will call tomorrow. if you would like to receive a cash bid from berkshire hathaway, we would supply one. and if he wouldn't like to receive one, forget we ever called. david: that was it? do you ever hire investment bankers to help you analyze a company? mr. buffett: not to help analyze a company. sometimes, they are involved in the deal. we are pe

to his. >> he i'm not sure that warren buffett is interested in insuring patients in those counties. that's keet. we need to look at every single american citizen and every single individual across this land that they get the coverage they want for themselves and their family not that the government forces them to buy. >> we'll see what happens in the senate and this very important

>> buffett tends to invest on a case by case basis.tory that moved talks about the 82-year-old thisr who helped bring deal to buffett's attention. that's what we're seeing here. that said, he does have a history of investing in canada. king'sed finance burger he hasion for merger -- a big electronic distribution in western canada. he's certainly familiar with the country and shown a willingness there.h to invest scarlet: do we know how long how holding on the stakes. how quickly might me want to get out of this once the stock return. at the bloomberg terminal here, home capital it the demise of the company price.s of share is -- is there a point he looks at? >> yeah. he likes the hold stocks for the long term. if you dig in here, i don't think necessarily get the right away. i think we're just going to have on that.nd see julia: i will ask you about something else warren buffett invested in. that's american airline. sum on his pretty investment in this one too. >> that's certainly an interesting development. the airline bet took a lot

from warren buffett in the banking sector. and the banking sector really needs it.innie: you look back and say, of course the banks are going to be ok, but it wasn't so clear at the time on the day. it's a very cleverly arranged a deal with convertibles, to hit the dividend, at a certain number. he's keeping his wells fargo shares. he's not doing anything with goldman yet. this is interesting. >> he tells you, only invest in the things you really understand. it's also through the post stress test liberation for the banks. them a chance to just take off the mantle of financial crisis. >> and that page. rallying the most in two years after the athletic brand delivered a rosy forecast. the company announced it would for a relationship with choppers, a move that would let mx -- amazon an instrument users by its sneakers directly. joining me now is matt townsend. what is a game changer here? matt: nike is making this big bet now, saying we will go more after what they call direct to consumer business. selling touilt off retail accounts. now thye're saying, we want to go

and a note: buffett is c.e.o. of berskhire hathaway, which owns b.n.s.f.railway-- one of the funders of the "newshour." he's number two on "forbes" list of the world's wealth yes people worth more than $75 billion. warren buffett is an investing rock star to his berkshire hathaway shareholders who gather in omaha every year. one share is trading today at $251,000. two years ago the legendary firm celebrated its record of investment over a half century, a portfolio that includes craft hines, gieco, wells fargo, coca-cola and among others, the nebraska furniture part. it's the largest furniture store in north america. buffet bought it in 1983 from rows blumkin, a russian immigrant who built it from nothing. >> there's nothing like it. the 58th market in the united states it's the largest home furnishing store in the country until we built two more. >> woodruff: why was she so successful. what was the secret. >> she would say she had a thing in her office but it says she had two things. sell cheap and tell the truth. >> woodruff: we talked on the showroom flo

buffett: he needs protection now. you had your first annual meeting, how many showed up at that? mr. buffett: we had about 12. you have to count my aunt katie and a couple of friends. david: any advice to a young investor who would like to emulate you? >> would you fix your tie, please? david: most people would not recognize me if my tie was not fixed. let's leave it this way. all ri

warren buffett opens up about his personal taxes and philanthropy. and, much more. >> woodruff: i spoke a short time ago with republican senator rand paul of kentucky, one of the key votes that could determine the future of the republican effort to repeal and replace obamacare. senator paul, thank you very much for join us. is there any doubt in your mind that if the volt had gone ahead today or tomorrow that the bill would have failed? >> i don't think there were enough votes, but i think there also hasn't been enough time to have a full discussion. we just got the bill last week. we just got the c.b.o. score on monday. there needs to be a little bit more time to absorb this and also to discuss what are the changes the leadership might be open to in order to get it to pass. >> woodruff: well, speaking of that, you met with president trump at the white house earlier today. you tweeted after your meeting, you said, the real donald trump is open to making the bill better. is the senate leadership? my question to you is, the president is meeting now wit

this is straight out of buffett's playbook. couple of years ago that berkshire hathaway has become -- his firm has become the 1-800 number in a market crisis. what we're seeing is really just an example of that strategy. he's done it time and again. he really likes doing it with financial firms. he did it with bank of america. he did it with goldman sachs and with g.e. during the financial crisis. vonnie: that's right. >> these deals are structured in a way that berkshire hathaway not only earns a high yield on the debt part of the transaction, but it often gets some sort of equity in the mix as well. which serves as a kicker and, you know, if buffett is right and these embattled firms return to investors' graces, then he makes a lot of money in the process. vonnie: now, it's interesting because canada was one of the places that didn't lend to subprime borrowers as much as every other place in the whole wide world and canadian banks were very proud of that fact. so how did this lender get into trouble? >> yeah. so part of the s

buffett, it's called the trump growth plan. all right, you just heard me, warren buffett -- i think he's basically pouring cold water on the trump rally. here to react best selling author, the man himself, peter kiernan. welcome back to the show. >> nice to be back with you. stuart: mr. buffett would not give president trump credit for this rally. would you? >> well, obviously, anybody who was around the night before the election and saw the market futures down 7 or 800 points might come to the conclusion that the response that began the next day had to be ascribed to something other than even the oracle of omaha, warren buffett, would agree that some of the catalyst had to go to trump. what frustrates me, frankly, is that what really drove that was enthusiasm about health care changes and tax changes and infrastructure investment. very little of that has happened. so what's really going on here is that the market has had do go it alone. they're waiting for washington, they're pulling washington along. but if you look at all th

. >> how much would you have to pay for lunch for warren buffett.splitting up his time for auction again today. >> first, a live look outside golden gate bridge this morning. dry there, wet in the seair wru what's going on? we're in june. the warmup is on the way. we'll check in with kari. >>> good morning. i'm landon dowdy live at cnbc world headquarters. wall street could start the week off in the red after the markets were mixed last week. the dow posting gains for the third straight week, but the nasdaq snapping a two-week winning streak. the federal reserve kicks off a two-day meeting tomorrow. the fed is widely expected to hike interest rates again, amid the improving economy and tight job market. on friday, the dow rose 85 points. the nasdaq, however, fell 113 points to 6207. microsoft lifts the curtain on its newest game console. it will cost $499, almost twice what the current xbox costs and it has the ability to play 4k games and also it's compatible with every older game ever made for the xbox. >> how much would you pay for lunch with war

david: your largest shareholder, i think, is warren buffett.l you up every day to say what you should do to increase the value of my stock? or does he leave you alone? kenneth: he is not someone who is on your case about how the stock price is doing every day. he is very focused on making sure you have a unique and differentiated business model. ♪ ♪ david: going forward, what is the biggest challenge for american express? obviously, the world is changing a bit. there are new ways of payment. there is paypal, apple pay, square, other things. what are the big challenges you have? kenneth: i think what is really exciting in the marketplace right now is the convergence of online and off-line. obviously, technology is having a major impact. mobile is having a major impact. form factors are changing. so, 10 years from now, i do not know if plastic will be used at the same level. but i frankly do not care. because it really is the unique business model that american express has, the services that we have. over the last 10 years i have spent a lot of t

this is where buffett keeps his cash!see you go check. >> i'm on my way. >> it is fascinating to think about how much money is between those two just hanging out. >> how much good these two guys try to do with their fortune. >> the bill and melinda gates foundation has helped so many people they willed another billionaire to donate money. >> it's true. i will be giving them my billions. >> oh. that's why you can afford that shirt. >> yes. i dress like bill, look. >> i think this is funny these are probably the two smartest guys and they can't seem to do one thing. that's leave. >> well, we don't want you to get out of here. >> rich white guy laugh. >> i'm so rich prp you rich? i am rich. >>> all right. listen and look very closely. something down in that hole. you can hear some sounds beneath that storm drain. >> is it one of those sewer crocodiles in. >> let's find out. you could just barely see it through the hole. there it is again. through another hole. >> what part of the world are we in? >> we're in taiwan. now we'v

this is out of buffett's playbook. a couple of years ago that berkshire hathaway has become his firm, the 1-800 number in a market crisis. what we are seeing is an example of that strategy. you have seen it time and again. these deals are structured in a way that berkshire hathaway not only earns a high yield on the debt part of the transaction, but often get some sort of equity in the mix as well, which serves as a kicker. you know, if buffett is right and these embattled firms return to investors' greases, they make a lot of money in the process. jonathan: 34 of the largest banks cleared the first round of the federal reserve stress tests, examining their ability to withstand economic shock. tests come next week when the fed will release findings from its competence of capital analysis and review. those test will be watched by investors as they determine when landis can increase dividends and buyback stocks. go to the banks for me. >> the numbers look good. sigrid packet calculation and looking at the 34 banks covere

we will talk about warren buffett's return to banks.m new york, this is bloomberg. ♪ ♪ are watching bloomberg markets. still ahead, the commodities close. upde oil closing up, closing for a seventh straight day, above $46 a barrel. the agriculture department is out with its latest report on crops, so we will look at core and soybeans next. new york, this bloomberg. -- from new york, this is bloomberg. ♪ ♪ from bloomberg world headquarters in midtown manhattan, this is bloomberg markets. i am scarlet fu. commodity markets are closing in new york and we have to start with oil because it is advancing for the seventh straight session, the longest in advancement and gains for half a year. a drop in u.s. crude production and gasoline stockpiles are weighing some confidence that opec supply cuts might be working to reduce that but -- glut. ore, that has rallied into a bull market for the end of the quarter. higher grade iron ore is the most in demand. something lighter as we head into the fourth of july weekend, let's look at this chart in the

even warren buffett has a major stake in what happens after the bell today.s got a 16 billion-dollar stake, to put a fine point on it. adam shapiro is in washington with more details on how mr. buffett will benefit and how perhaps other investors will. >> that's correct. and depo warren buffett, the key's going to be the word object or do not object. because remember, the federal reserve doesn't say fail or pass. you and i would say fail or pass, that's how you say it in english. but if the bank is okay with the capitol plan, they will not object. no deal for you, as they say at the soup kitchen. here's the deal with warren buffet. he bought in 2011, what was it? a $5 billion stake in bank of america preferred stock, and he had at the time a warrant that allows him to turn that preferred stock and purchase roughly -- what is it? 700million shares of common stock at $7.14 a share. now, do the math, liz. this would take his investment from 5 billion to $16 billion. and look at where they're trading right now at bank of america. the stock at $23 a share. but it'

. >> i know about warren buffett. >> not that they are worried about corrupting. >> through. >> that kicks the problem. more money -- a lot have more money than we can ever -- >> of course. that is the general attitude. thank you. thanks for your talk, i enjoyed. [inaudible conversations] >> i have a question. what platform is considered -- [inaudible conversations] >> if you give $10 million to harvard. >> booktv is live from the chicago tribune's printers w

betty: warren buffett launching this year's auction, raising money for the homeless in san franciscogain. haidi: hello, it is just past 8:00 a.m. in sydney. betty: it is after 6:00 p.m. in new york, i am betty lou. maybe there might be inflation in terms of the bids for warren buffett, but there is much inflation in the jobs report from friday which led investors to believe may be the fed will not raise rates as fast as some expect it. we only get one, and it will come later this year. the nasdaq and s&p all trading higher. up 4/10 of 1%, the nasdaq also rising close to 1%. you had tech am, health care on friday leading the games. no surprise that financials took it on the chin. if there is fewer interest rates with tightening. that will not be a great margin for many banks. haidi: the low rate environment globally may be here for longer. but you have this interesting dichotomy. u.s. 10 years at bond rally continue to yielding. they are yielding to the lowest. u.s. stocks near record highs. look at how we are setting up in asia. we had new zealand trading , outside 07%. the kiwi doll

. >>> how much would you pay for lunch with warren buffett?ar's charity lunch with the investor is $2.7 million down from last year's record $3.46 million. the anonymous winning bidder can invite up to seven people to lunch with buffett at new york's smith steakhouse. it hams raised $25 million for a foundation. >> thank you. be sure to share pearls of wisdom. one president's way of delighting fellow passengers. the heat has people feeling frosty toward one another. you're watching "early today." " investors. >>> wonder woman pulled off another weekend at the box office bringing in $57 million. in second place "the mummy" starring tom cruise with $42 million. and captain underpants hung on third place with $12 million. highly anticipated debut of marvel's black panther teaser that had everyone buzzing. the star-studded cast, expected to premier in february 2018. >>> pop culture lost one of its biggest heroes this weekend. adam west died after a battle with leukemia. he was best known for his role as batman television series. shares a tribute.

here's what buffett said >> the stock market has been going up basically since march of 2009. hit the bottom. it's been going up more or less since then if i ever become president, i don't want to be take iing blam for what goes wrong. sprint is in talks with charter communications and comcast over a potential wireless services deal the "wall street journal" says under one option comcast and charter would invest in sprint's network in exchange for favorable terms to cell service using the carrier's network. back in may there was a wireless truce that barred either company from doing a deal without the other's consent. sprint shares in the premarket are lower. charter communications higher. it complicates the t-mobile/sprint speculation. it's unclear that -- the "journal" mentions one possibility is charter and comcast would buy sprint, just a servicing deal >> either way it makes the t. mobile deal off the table for now if these reports are accurate >>> hedge fund paulson and company upping its stake in valeant. up to 6.3% this a week after john paulson joined valeant's board

now over the past 17 years buffett has raised almost $24 million for glide.t year's winner paid $3.5 million for that lunch and that tied a record set back in 2012. so if you are interested get your credit card ready. the auction started on ebay tonight and runs through friday. >>> the developers conference is set to open tomorrow in san jose as they track thousands of people from around the world. this year's concert will be held in mchenry's convention center. there are reports apple will launch a new smart speaker similar to google home and amazon echo. the keynote address is set for 10:00 tomorrow morning. >>> luxury clothing retailer michael kors is closing stores as the sales slump. they plan to close 100 of their locations. the store closures would help save $60 million a year in costs. the retailer has 13 locations in and around the bay area. we're still waiting to find out which one of those stores will close. >>> payless shoes is asking a bankruptcy court to close another 400 stores in addition to the 400 stores already on the chopping block as a pa

buffett the warren other day. in 1960, corporate taxes were 4% of gdp and now they are 2% of gdp. all you talk about is cutting to cutor the -- you need it for the middle-class. health care was around 5% of gdp. it is now 17% of gdp. we spent a trillion dollars a year? this is what gets me. talk about this, sir. $.33 of every dollar is wasted in our health care system and is warren buffett says, it is not our tax system. it is the health care. host: another very big topic this morning, health care. linkage,lk about the part of the reason the corporate tax collections are so low is the corporate tax code is broken. what corporations do is just move their capital offshore. even apple, an american institution, they have moved all their intellectual property and licensed it in ireland. all the global tax we, unlike tax globalies, earnings. companies create separate entities and create revenue outside. if we had a simpler tesco, we will move from 37 or 38th of the 39 developed countries, we are near the bottom. that from the system we have today, the system that is in the republican bl

. >>> warren buffett now the largest shareholder of yet another bank let's get todom chu with more ons story and other places where he is a major shareholder. >> kelly, bill, first of thul bank of america has one of the biggest brokerages out there in merrill lynch. a nice segue about the exercise of options warrants factoring in the wake of the financial crisis berkshire gave an investment to bank of make with the understanding if they got to a certain financial point down the line they would be able to convert that stake into common shares that happened and all of a sudden we've got 700 million shares that berkshire hagt away under warren buffett owns. that makes them the largest shareholder in b of a and has a value of $17 billion it's interesting because you have $12 billion paper write-off profit right off the bat it's not of course the only company that buffett has a massive stake in berkshire is a major share holder in a number of different companies. kraft hines, over a quarter of that company is berkshire hathaway american express he is a big investor that 17% stake they have

liz: billionaire warren buffett wants single pair. he says government health care is the best and only solution. we have a new guest that says you know what, warren buffett? you pay for it. but first, russia trump campaign collusion, free veteran journalist cnn have now resigned. we have former trump campaign manager katrina pearson here to react.om don't go away looking from a fresh perspective can make all the difference. it can provide what we call an unlock: a realization that often reveals a better path forward. at wells fargo, it's our expertise in finding this kind of insight that has lead us to become one of the largest investment and wealth management firms in the country. discover how we can help find your unlock. welcome to holiday inn! ♪ ♪ whether for big meetings or little getaways, there are always smiles ahead at holiday inn. bburning of diabetic nerve pain these feet... jumped into city life as a kid... ...and kept my town moving. but i couldn't bear my diabetic nerve pain any longer. so i talked to my doctor and he pr

has to do with warren buffett. just breaking.erkshire hathaway will exercise warren's options to own bank of america. bar remember buffett will buy 700 million shares. >> that's how many of the warns he held. he was saying at within point he would exercise them if the price was at a certain amount. bank of america just doubled the dividend for the common share. he's probably getting a better deal on the dividend, i would guess. >> and he becomes the largest shareholder in bank of america >> he's been breaking out the warrants in the annual report for several years. just talking about how -- why this is such an important stake for berkshire hathaway, i bet it's because bnk ank of america doubled ets d ed its dividend >> he owns a 6%, converting that to 700 common shares would you view this as a sign of confidence >> are you ready for this? as of wednesday's closing price, he has a paper profit of 11$11. billion. >> wow on that transaction. >> he's not bad at investing >> no. i heard he's pretty good at that >> think about this, yo

coming up, lunch with a legend, what you can do to dine with warren buffett, one of the world's richesthero was on a mission to pasave snack time., watch babybel in the great snack rescue. you want a piece of me? good, i'm delicious. creamy, delicious, 100% natural cheese. mini babybel. snack a little bigger. >>> here are the winning numbers from last night's powerball drawing. the power ball number was 25 but nobody picked all six numbers. wednesday night's jackpot is estimated at $375 million. >>> bidding for lunch with warren buffett begins today. he has hosted a power launch for the last 17 years. it donates millions to a foundation, but the minimum bid on ebay starts at $25,000. you'll need to win that powerball jackpot first. last year the winning bid was $ 3.4 million. it begins today and goes through friday. a lot of money there. we have our warriors gear out, and we all have the folks up stairs wearing gold and blue, and lisa, we do have a good weather day for everyone. >> yes, tomorrow and the next day and the next day until we hit thursday. the accuweather seven-day forecast.

what he ironically did not understand is that the rat in this occasion is warren buffett. all right well we're going to take a break stay to the second half of the way. let's talk about blackness and the blues of being black. and always will in a big house down at least that's what i've been told but it was simply that we in remains is such because we simply forgot. the scene we've allowed them to rearrange their pain you've told us the sickness of trusting our enemy we came to face. that's what i call the lack of blackness or understanding the blues have been black . sheep the blues have been black should mandate that we attack knowing how when and what to do to come this simple in his natural as be black is simply tat the feelin blue is black and blue. with the islamic state perceived to be on the defensive in syria many of the parties in this proxy war are buying the next stage of this conflict as a result of russia in the us are there is washington strategic interest in syria really when. welcome back to the kaiser report imax guys are time now to turn to close to a lo

s at the moment could be about well you know one buffett famously compared bitcoin to rat poison but what he ironically did not understand is that the rat in this occasion is warren buffett all right well we're going to take a break stay to the second half of the way. this is the post you. in. the la la la salle back home. in the loop in a dose of the good news that. you. just . have to leave the last of the really good barbecue forgot that i. was i don't know that my father bought the board itself it was based off of so. but he investigate police officers behavior as well. i'll take drugs in the west against the presence here. calling people as euclid's. the fact that trump to get elected with a series of maist and distortions is a reflection of fact that the voting public could be convinced by that and what we really need to do when one of the reasons as a scientist i'm interested in this is we really need to get people to apply the same standards of politics that applied to science skeptical inquiry empirical testing and demand evidence for what your politicians. social environmen

that's what we're trying to fix. >> i'm not sure warren buffett will be satisfied that he got an answer to his. >> he i'm not sure that warren >> imnot sure warren buffett is interested in insuring patients in those counties. that's the key. we need to look at every single american citizen and every single individual across this land that they get the coverage they want for themselves and their family not that the government forces them to buy. >> we'll see what happens in the senate and this very important bill that's before them. thanks for your time, mr. secretary. >> thanks, dana. >>> coming up -- inside job. the president's super pac attacking a fellow republican, a senator who says he won't support the bill because it doesn't do enough for poor people. will the million dollar ad campaign work? that's next. >> unacceptable. if you're opposed to this bill -- mmmm. mmmm. mmmm... ugh. nothing spoils a moment like heartburn. try new alka-seltzer ultra strength heartburn relief chews. it's fast, powerful relief with no chalky taste. [ sings high note ] ultra strength, new from alka-selt

part part one of my interview with warren buffett airs monday night. that's it from aspen for tonight. i'm judy woodruff. >> sreenivasan: and i'm hari sreenivasan. from all of us at the pbs newshour, have a great weekend. thank you, and see you soon. >> major funding for the pbs newshour has been provided by: >> bnsf railway. >> supporting social entrepreneurs and their solutions to the world's most pressing problems-- skollfoundation.org. >> and the william and flora hewlett foundation, helping people build immeasurably better lives. >> and with the ongoing support of these institutions and friends of the newshour. >> this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. captioning sponsored by newshour productions, llc captioned by media access group at wgbh access.wgbh.org >> . >> glor: welcome to the program, i'm jeff glor, sitting in for charlie rose. we begin this evening with a newly unveiled senate republican health-care plan. we talked to vann newki

to his. >> he i'm not sure that warren buffett is interested in insuring patients in those counties. that's keet. we need to look at every single american citizen and every single individual across this land that they get the coverage they want for themselves and their family not that the government forces them to buy. >> we'll see what happens in the senate and this very important bill. thanks for your time plrks secretary. >> thanks, dana. >>> inside job. the president's super pac attacking a fellow republican, senator who says he won't support the bill because it doesn't do enough for poor people. the million dollar ad campaign work? that's next. wthe million dollar work? that's next. ithe million dollarn work? that's next. lthe million dollar campaign work? that's next. lthe million dollar campaign work? that's next. the million dollar campaign work? that's next. will you be ready when the moment turns romantic? cialis for daily use treats ed and the urinary symptoms of bph. tell your doctor about your medicines, and ask if your heart is healthy enough for sex. do not take cialis

so i agree with buffett. i like to listen to buffett and cooperman. they seem too be right a lot. >> or stock proxies, xlu, 3.1% yeel yield, up 11% year to date guys are playing both, growth, if you can say that, the utilities as well as yield. >> getting back to your point, if this is as a result, purely, or mostly because of central banks and their actions around the world as well as here in the united states, does mat methat f we get to a point where the yield curve is inverted, we couldn shouldn't care as much >> the inverted yield curve usually is a harbinger of recession, and i'm not sure that we're ready to make that call. i am not making that call. i can tell you that for sure think there's a lot of pressure for long-term investors that are chasing yield and a lot of great opportunities. steve talked about utilities mlps i sit on the board for an energy mlp fund yielding 13%. there's a lot of different places to get yield. if you don't think the credit market is blowing up, emb is a 5% dividend yield. think about other mace places n preferreds

maria: ask how about buffett rule any making a million dollars to pay more taxes where is his buffettocrisy joy put a microphone on -- >> i hope you all report it so that the public understands obamacare was a gigantic increase equivalent in the income tax, that is what buffett is talking about. >> yeah, do you think they get this done get tax reform done soon after governor what do you think? are you worried about the timeline. >> i was in white house last time we did tax reform. it took more than two years. things that are complex, and controversial don't get done fast. but the sooner we can get started on tax reform the better i think there is a huge appetite like in 85 and 86 maria ronald reagan went on tv spring of 1985, made his pitch for tax reform. what was the democrats' response? danny ross tenkowski said mr. president we want tax reform too can you imagine that in this congress from democrats. >> no greet insight as always thank you, sir. we will be right back. give inv. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be. ma

is thinking of giving dividends to the stock. >> i think we buy the stock because warren buffett isood management we all agree this would be a fabulous stock to own, i can't own individual stocks, but berkshire hathaway is right and i think he's doing a great job let's go to mike in arizona. >> caller: cramer, love your show my stock is quarry infrastructure corp, mic >> i'm going to have to do some more work on this, because all the other infrastructure stocks are doing bad by so i have to do more work. >> caller: jim, send us some texas aggies some better football players >> i'll get to that. >> caller: eight-time season record for three years, and we paid for a half billion stadium, which is reprehensible, if it's not questionable target, tgt. >> i put that the oklahoma stadium is so beautiful. okay, i think that target is okay, i do prefer tgx that has come down is a bye-by a buy, buy and that ladies and gentlemen is the conclusion of "the lightning round. seamlessly syncs across all your devices, right? oh, so my custom studies will go with me? anywhere you want to go! the mark

what he ironically did not understand is that the rat in this occasion is warren buffett. all right well we're going to take a break stay to the second half of the way. armstrong calling more and i'm neal hoping. we're going to be your hosts for the tree thousand and seventy confederations cup right here in russia we're going to be visiting the host cities are sochi. moscow going to be great i'm told in full of course also politics i think pretty much covering every topic the fans need to know about the head of the match so don't forget to join us on field it's going to be full of living. social environment. right. chemical discoveries over the last century made every day life easier but at what cost this is cereal is exceptionally sick. no wonder it's confidential. exists as the years old industrial giants reaps the benefit ignoring the caused by chemical production. you know as if these people are people just experimental animals decades later the toxic environment continues to poison lives and we found these astronomically high levels of dioxin levels that my staff thin

. ♪ emma: warren buffett's berkshire hathaway will swap $5 billion of bank of america hurt stocks toommon shares. those shares are worth roughly $17 billion. the is they announced it would raise its dividend by 16%. stock sixquired the years ago. shares of like you rising in premarket trading. they delivered a rosy forecast. nike will now that amazon and instagram users by its sneakers directly. sales are expected to rebound in north america where a deed us as seen a resurgence. andr is cutting its sales profit forecast. the consumer health division is also is not performing as well as expected. shares drop by the most in eight months. alix: we want to start with what's moving in the premarket. steel stocks. ak steel up 1%. u.s. steel up 2%. there is a report that says some aresors and president trump hell-bent on imposing steel range tariffs, in the 20% , and that could extend to things like paper, aluminum, household appliances, semis, etc. all the antidumping terrace we have from china still not enough to make the steelmakers profitable. yesterday was categorized by the big slowdo

warren buffett may have thrown a lifeline to him battle canadian home capital group.the country soaring housing market. buffett saying that while rising home prices make him cautious, home capital is not a short-term investment. sinceock has soared berkshire hathaway agreed to a 38% stake in the company last week. x has launched its ninth rocket of the year, beating last year's total, and we are not at the end of june. the falcon craft is carrying 10 satellites for iridium communications and took off from vandenberg air base in california. there was another launch on friday. it is the first time space x has sent to rockets into orbit in such a short period. coming up, out with the old, thai airways plans a major fleet revamp. we will hear from its chairman. that is next. this is bloomberg. ♪ rishaad: this is "bloomberg markets: asia." i am rishaad salamat in hong kong. thai airways revamping its fleet. says that will mean 100 new planes from airbus and boeing, including 30 in the next five years. atright now we are looking replacement of the old aircraft. we have 100

finally, looks like an interesting day for warren buffett.ome capital, the troubled toronto-based mortgage lender is getting a lifeline from warren buffett. he has become a lender of last resort for the company, agreeing to buy shares at a deep discount, providing a credit line. something he has done for some of the big financial companies in the united states, but he's buying a big stake for the equivalent of 300 u.s. dollars for the company. some of the shares have been bouncing on that. remember, berkshire hathaway is the largest stakeholder in that company, rising after cutter airways said they were seeking to acquire a stake that would equal his. intending to invest $800 million. those shares up almost 2%. rent: i want to talk about . we are back about $45 per barrel, up 1% on crude, but it is the bear market in wti and brent that has been dominating all markets for the past couple of days. the stoxx 600 is weaker on the third day, heading for the worst three-day drop in a month. in terms of the worst performers earlier it was the energy

i am talking about warren buffett's that on bank of america. buffett is going to exercise his warrants and gain $12 billion as a result. as a good america raises its dividends, that could result in payouts for berkshire hathaway in addition to the $1.5 billion from the preferred stake. not much of change at the moment, but there was talk it was going to happen as bank of america was raising its dividends. two companies going in opposite directions today, wells fargo and -- it's a movement that continues and treasury. you can take a look at it here, the four sessions in particular is where we have seen the yields on rising up 14 basis points in that period of time. quite a run for treasury yields over the past few days. however, yields on another kind of debt not looking so great. the puerto rican governor has asked the oversight board to file for bankruptcy protection for the ailing electric utility from puerto rico. the bond insurers are seeing losses today. the builders today, home builders rising. the companies are in a unique spot to capita

why would warren buffett taking a stake in this mortgage lender? such a large one.he simple answer, you get price he was interested in. this is straight out of his playbook. he said a couple of years ago that burger halfway -- his firm, has become the one 800 number and a market crisis. but we are seeing is just an example of that strategy treat he has done it time and again. these deals are structured in a way that burger halfway not only debt a high-yield on the part of the transaction, and it often gets some sort of equity in the mix as well, which serves as a kicker. if buffett is right and these battles -- return to investors, then he makes a lot of money in the process. banke largest u.s. cleared, the first round of federal reserve stress test, examining their ability for economic shock. key test comes next week, when the fed will release findings from its competence of capital analysis and review. those test will be watched by investors as they determine when theyenders can increase -- go through the banks for me. >> the numbers look good. i did a rough back

warren buffett -- he will be able to get over a $600 million tax break because of this bill. it is possible to get the democrats and republicans to work together in one room, as you say, and ban something out? caller: of course it is. listen, as a born and raised new yorker, i believe that representative schumer hit it on the head. get a room, get everybody together, and craft out a bill that is fair and reasonable. ok? that is what needs to happen. we do not want to rush this thing and have mr. president either be ashamed of signing it or signing a bill that is all ut and zero' inp democrats. that is not the way our democracy has been put together. >> grant and humble, texas. republican caller. caller: this is going to be the best -- they are going to eventually get the votes. i'm very confident about that. trump will make amendments. it will get through. entitlement reform, we are $20 trillion in debt, if we do not start doing entitlement reform, the country is dead. i get a kick out of democrats talking about spend, spend, spend. there is no money to spend. we have to get

warren buffett was on tv yesterday saying he does not aally need his tax break gives tax breaks to wealthy people and then cuts it for millions of americans. they need to put that aside and work with democrats to improve the exchanges. any cuts to medicaid exposed byuests -- democrats. you have a lot of colleges make in the point that even today it is hard to get some providers to provide services and then they turn around and say let's cut it even further. the reality is medicaid is one flexible current as you and andy were just discussing, most of the money goes through folks who are in nursing homes. and then people with disabilities. host: if medicaid is off the table for you, where are you willing to discuss the reforms? point out during the campaign, donald trump said he's not going to cut medicaid. the reality is they fundamentally slashed medicaid. in the exchanges, many of us have put forward. i believe we should have a .ublic option it would create more competition in nature everywhere in the country you had at least one insurance plan and the congressional budget office says tol

i just go with warren buffett. why? what am guying to do, argue with him?hat's never been a great call >>> i'm helping you form the necessary investing strategies you need at all stages of your life today from old to young, i'm going to meet you where you are and take you where you need to be on "mad money" tonight, we're beginning in the crib. forget binkies here are the two stocks you should be buying to give a newborn a much-needed head start. and teenagers have a lot to learn, but there's an important investing lesson everyone can get from them, as well plus, from your 20s to golden years, by guide to where your money should be sitting at any age. stay with cramer >> don't miss a second of "mad money. follow @jaiimcramer on twitter. send an e-mail to mad money at madmoney.cnbc.com, or give us a call at 1-800-743-cnbc miss something head to madmoney.cnbc.com. y ♪ at johnson's we care about safety as much as you do. that's why we meet or exceed 15 global regulations for baby products. and where standards differ, we always go with the toughest. johnson's.