warren buffett's big buy-back of his own stock.hat stocks right now are, well, let's let you guess. we asked one of the most widely read men on the street. dennis gartman. what he interprets from what warren buffett did this weekend. . . liz: five minutes to go, folks. we see a nice comeback from the dow and s&p considering what we saw on friday which was in the red. nasdaq down 23 points on apple weakness, amazon weakness. warren buffett, "oracle of omaha," not seeing many investment opportunities on the horizon. instead he took cool $900 million, spent it on his own stock, berkshire hathaway. first time since 2012. on his a-shares. a share hold said he should take a certain company private. susan li onshore of new york stock exchange. with the kraft-heinz story. >> up 3% after a shareholder after a wide miss in quarterly earnings and profits. an investment firm hold as stake, says take it private at $80 a shore. imploring warren buffett and berkshire hathaway, imploring them to do. they have a long-term outlook. they know how to

by the way, warren buffett is not panicking from what i can tell.re are analysts who are anxious to get out of the stock and identify themselves with the cohort that says there will be one more supplier. there will be a supplier that says apple is cutting back. my reporting confirms this, too. the low info. and the service revenue stream should transcend. against that is shampoo. head and shoulders. very good story this morning. where do you go after you really hit it big it's a beautiful city. >> i almost bought that. >> we will take a break and get cramer's mad dash as we count down to the opening bell. keep an eye on the futures which have weakened significantly. ♪ >>> time for a mad dash with about seven minutes to go before we get started with trading here. kb homes is going to be down. >> this is the final one that was doing well. california is rolling over fast. there was a conference yesterday, a very smart guy talking about it. he goes ever since the interview -- he is saying we have bipeen affected by this pae particularly in the last five

will take a look at warren buffett's big buyback. his appetite for stocks including his own.look at berkshire hathaway. this is bloomberg. ♪ loomberg. ♪ shery: we are getting dbs results. the singapore bank reporting net income at $1.13 billion .ingaporean that is below estimates. the third quarter net coming in, 2.1% below the average analyst estimate. we are seeing third-quarter nonperforming loan ratio was 1.6% against 1.7% year on year. 1.86%t interest margin against 1.85% quarter on quarter, 1.7% year on year. there is net coming in below billions of $1.4 singaporean. this is one of the last banks to report earnings. we have seen strong results from singaporean banks being helped by comprising global interest rates -- by rising global interest rates. dbs, there are net income coming in below estimates, haidi. asia's largestt lender, not too bad a rating. they are trying to expand into new capital markets like china. we will get you more details. a look atake legendary investor warren buffett showing renewed appetite for equities, including buying his own shares in berksh

big investor warren buffett and berkshire hathaway. that confidence alone is enough to keep that sector alive. for now. so lionel, what does being able to trade 24/5 mean to you? well, it means i can trade after the market closes. it's true. so all... evening long. ooh, so close. yes, but also all... night through its entirety. come on, all... the time from sunset to sunrise. right. but you can trade... from, from... from darkness to light. ♪ you're not gonna say it are you? >> yes, difficult and sometimes uncomfortable decisions have had to be made. i understand fully that there are some who are unhappy with those compromises, but this deal delivers what people voted for, and it is in the national interest. neil: all right, here's the thing, people in britain voted for this almost two and a half years ago, and it might be in the national interests, but times have changed, and we're told sentiment numbers in britain have changed. and if this doesn't go well -- that is, britain's formal exit from the european union -- that's a very, ver

so big apple holder is the "oracle of omaha," warren buffett.s made some major investment moves. berkshire hathaway just revealed it has added more than 35 million shares of, jpmorgan. they also brought brand new stakes in oracle, pnc financial and travelers. and they jettison every show they owned at walmart. we have the seven report founder about investing like buffett. do you follow him? >> of course. who doesn't on the street, right, trying to be successful? absolutely i follow him,. liz: through good times and bad. so many headlines like today for example. what is happening with "brexit." what is happening with trade for china. he tends to tune out most of that. >> that is a great lesson for inverse to. the principles that made him successful, finding clear biz models. understanding what you're investing in. not getting distracted by some high-flyers. these are all lessons investors should follow. it helped make him successful. connell: on the screen which are the most significant invests? what do you gleen from his view, how he views the w

warren buffett has renewed his bet on banks.rkshire hathaway has bought stakes in jpmorgan and pnc financial and boosted its investments in other institution. the jpmorgan holding deepens ties between the two companies. a top deputy is on the bank's board of directors and berkshire is already working with amazon on a health care venture. his longested in losing streak in more than six months as investors reassess its growth prospects amid waning demand for iphones. shares extended their slump losing 11% over the last five days and erasing more than $100 billion in market value. apple's year-to-date gain is now about 10%, down from almost 40% in early october. fell in the first time since august, reaching its lowest level in more than he year. the world's largest cryptocurrency dropped as much as 15% with most of the loss coming within a half-hour window. other clients also fell, smaller rivals seeing sharp declines. fromin is down about 70% its record in december. that is your bloomberg business flash. manus: thank you very much

i didn't know this but parrot heads is a nickname for jimmy buffett fans.oprah situation. i'm a huge fan of jimmy buffett but this parent had voted red straight down the line. whether the celebrity tactic will work is up for debate. jillian: this only happens until you are wrong, here is the proof. a win for you. all phillies fans out there. the world series parade got pretty rowdy in boston yesterday. fans were throwing beer cans at players not in a mean way to give them a beer but one of those cans hit the world series trophy and damaged it. also some pretty crazy situations. hit with a can of bud light, caught one of the beer cans but he was warm and threw it back. the world series trophy was busted but i will blame the players, their baseball players, they should be catching beer cans. rob: that is hilarious. jillian: a rallying cry for democrats since day one. rob: believe us. >> medicare for all, single-payer system. >> everyone should receive the healthcare they need. >> good health care for every american is a right. jillian: what told with a price

what is this fight between adelson and often about -- buffett about?en: what is on the ballot next tuesday is a question to deregulate the market and allow consumers to choose their own electricity providers. the energy currently has a monopoly on electricity sales in nevada. we have seen a lot of industrial facilities looking to leave their territory to get lower rates and, in some cases, renewable energy. they have paid exit fees for that, but they want the right to choose without paying that fee. alix: what would happen to nevada energy if approved? colleen: that is a great question. we don't know yet. they have said they will sell all of their power plants and reassign the long-term contracts they have for a number of renewable energy projects. what's also interesting about what they might do, and they really got renewable energy proponents in a bind here, they have signed 1000 megawatts worth of contracts for new solar and storage to come online from 2021 to 2022. they said if they lose this vote, they will not proceed with five out of six of thos

discussion with charts and graphs and equations everybody is the superstar but the point is like buffettor a showcase. >> what is your career path? . >> so i was writing about economic policy. so i was thinking about what i was doing so overnight i became a policy writer i took a job for the nonprofits to raise the money i thought that was lazy it's not lazy i was just doing the wrong job. we're going dawn until dusk every single day to something that reinforces my unique skills so now i'm telling my children. >> host: the end of work. you are watching book tv on c-span two. . . . . i want to welcome you to the event on behalf of the college. we have another event coming up wednesday night that i want to tell you about, if woodrow

warren buffett bets big on banks.ly from new york, this is bloomberg. ♪ alix: we turn to wall street beat, three things wall street is buzzing about this hour. brexit. the citigroup ceo says they have had no choice but to prepare for a hard brexit. buffett exit, walmart bet on banks. facebook's bad apple, unbelievable story. internal turmoil at facebook reveals mark zuckerberg insisted employees use android devices after tim cook criticize the company's model. david: that is the least critical part. joining us now is vince cignarella. brexit and with citigroup. i spoke to michael corbat yesterday. i asked what they were planning. he said hard brexit. i said if they backed off, would you change your plans? he said not so much. >> we have had no choice all along to assume a hard brexit, meaning no transition agreement. forave to be prepared basically brexit plus one to be fully open and have the ability to serve our client. david: if it went the other way, would you change? he said it is too late. >> the key is we need

warren buffett, what am i going to do? argue with him no more excuses. i'm helping you form the necessaries investing strategies you need at all stages of your life tonight from young to old i'm going to meet you where you are and take you where you need to be. on "mad money" tonts we're kicking things off by beginning in the crib. here are the two stocks you should be buying to give a newborn a much needed head start. and teenagers typically have a lot to learn there's an important investing lesson everyone can get from them as well i'll fill you in. >>> my definitive guide to where your money should be sitting at any age. stay with cramer >> don't miss a second of "mad money" follow@jim cramer on twitter. #madtweets send jim an e-mail or give us a call at 1-800-743-cnbc miss something mpeople tell me all the time i madmoney.cnbc.com.t job, the riskiest job. the consequences underwater can escalate quickly. the next thing i know, she swam off with the camera. it's lats mine! i want to keep doing what i love. that's the retirement plan. with my annuity i

in twenty thirteen the heintz company was bought by warren buffett for twenty three billion dollars. it was the largest takeover in the history of the ip food industry. and. the arrival of the billionaire entrepreneur was not good news for heintz employees. say to friends in the uk it's the end of an era in lemon tart after more than one hundred years the heinz plant has sold at century old factory today hundreds of heinz employees are now out of a job. i met with some of the people who were laid off after the takeover. in leamington a town with a population of twenty eight thousand nearly one thousand people lost their jobs when the ketchup giant decided to close its largest planted north america. a year later half a still a lot employed that's the twenty year service award that you got a part yes i mean that's when you order fertilizer this road and then i got out of the stand there but the cold water here in leamington no one expected that a man whose fortune is estimated at seventy three billion dollars would close the factory couple things i've always heard was heinz will never

famous investor warren buffett's berkshire hathaway has made another market moving investment warren watchers are buzzing about mr buffett's latest publicity play the purchase known as a leaven percent stake in credit card payment processor stone co brazil reportedly brazil's fourth largest processor for three hundred forty million dollars berkshire hathaway made the purchase during stone co's initial public offering in late october it was released in s.c.c. filings the investment in stone co compliments birchers recent acquisition of a stake in indian payment processor we told you about pay t m. canadian plane and train maker bombardier will be cutting five thousand jobs as its stock plummets the drop is the biggest the company has experienced in three years and some say this time things may be headed south for more we head north to our tease alex mahela bitch who joins us from toronto alex bombardier seems to be taking some drastic measures what's going on with this company. oh the stock dropped about twenty four percent yesterday climbed a little bit today the problems though the

and be energy owned by warren buffett would be significantly impacted. would have to sell a lot of its power plants if this past. >> thank you. coming up, looking for higher yields. this is bloomberg. ♪ this is bloomberg markets. banknks continue to pull this ison loans, perfect timing. this is perfect timing. the time is right for private lending to be going on. >> this is a direct result of the financial crisis. what have traditionally been , they haveity firms gotten into this mode or this vehicle called business development corporations. they have about $100 billion that they are managing. credit, what is the risk like here. >> that is the risk that everyone is starting to identify here as these non-banks have stepped in. they are loading to a lot of companies that would otherwise not get credit. is these to understand bdc are publicly traded. they are essentially creating stocks. bad, you cans go see every day investors being punished by this. heard repeatedly from different parts of the market that we are seeing credit quality deteriorate. what do

they need someone to come in they do need warren buffett. listen, i'm going to buy i'm going to put a floor in. >> does that balance sheet fit a warren buffett-style trade or investment >> i think it might. i think larry is the best in show larry is saying, don't buy me yet. >> yes >> that's not so good. >> some good terms on the stock could entice mr. buffett he also said -- here's a quote, too, no plans for an equity raise. if things change, might come back and revisit that. that's not that -- >> musk like >> a lot of confidence there >> elon musk gets hell for that and he says this >> do you see him smoking a dube this is -- i'm on the couch, you know >> i think he has to say that now to say this is as bad as it can be because i have no transparency about turning the company around i have no time line. i'll throw out the potential for an equity raise now. >> everybody who bought the stock because they thought that larry culp, as great as he may be as an industrial executive, and i asked people straight up, it doesn't mean he's a miracle w

economic read him grows, more and more people will go to work and feel like lebron james or warren buffett or lindsey buckingham. work will be where they showcase their unique skills and intelligence. >> host: how do you get there, but your career path? >> guest: i worked in wall street and i enjoyed it but i worked around the people at goldman sachs and ice on these people love what they do. i thought i can'twin . what interested me was economic policy, writing about economic policy and so thank goodness goldman sachs laid me off. i'm one of the many stories of people who were fired and that's what led to and forced me to rethink about what i was doing and i was always passionate about economic policy. so overnight i became a policy writer and started putting out books. i took a job as a fundraiser to raise the money working for a nonprofit to raise the money, pay the bills so that i could read and write so i used to think i was lazy. turns out i wasn't lazy, i was just doing thewrong job . it's nothing for me to work all weekend dawn until dusk every day for weeks at a time writing books

waters was threaten the banks, warren buffett made a big investment in jpmorgan.hat is a very big and well-known bank. he is a smart investor. if he thought maxine waters could be, could reregulate wall street, he wouldn't be investing billions in financial companies. a lot of noise coming but no serious action. the second hour of "varney & company" is about to begin. ♪ stuart: it is thursday 10:00, eastern tile, that means it is mortgage rate time. ashley: i live for the freddie mac day, you know that here on the edge of my seat. i kid you not. i love it. 30-year average for freddie mac mortgage, 4.9%. what was it last week? 4.94%. completely flat. it reflects other things, subdued inflation, lower oil, subdued wage growth. the rates are sensitive to that. we have seen a subdued data. still under 5%. stuart: not quite at 5%. ashley: exactly. stuart: we've been saying for weeks. ashley: for weeks. stuart: the dow down nearly 100. some individual stocks in the news. first off higher sales, a rosy forecast from walmart. that is not helping the stock at all. it is do

and then warren buffett and berkshire hathaway, these are the new positions. jpmorgan and oracle helping out the tech sector. day,r one laggard on the let's hop into the bloomberg and look at walmart. we see walmart shooting sharply higher. putting up a very strong quarter. very solid outlook. we see shares well off the lows, down .7%. it will be interesting to see how that works out. quickly, guy let's look at the haven assets. could getee just it worse. we have a 10-year yield down three basis points. the dollar is higher, but even with the strength and is such a strength for the yen and the haven currency converter dollars trading lower against the yen. currency, that the dollar is trading lower against the yen. guy: let's pick up and see what is happening with european markets and what is going on there. >> it is all about brexit. that is potentially unwinding with a series of presentations of u.k. ministers system one of the biggest dish u.k. ministers --resignations of u.k. ministers. we did see 126 over the summer and we are not yet reaching those lows,

financials are rebounding to buffett accumulation of jpmorgan.a, i have to come to you, you're my energy expert. what is the deal with oil? has it hit bottom? >> we could continue to see volatility here. the consensus this volatility is driven by the president. i think in general the, sentiment down in houston sis this will past and the president trump -- charles: when president put out the tweet on monday, crude oil was up a buck. finished down the next day. clobbered next day not necessarily, americans we do want to see oil higher. >> pump prices are psychological metric for most consumers but the energy sector is huge part of american economy. so we >> you don't want crude to go down further. you worry about the debt of the lower rated energy companies and whether that deteriorates. charles: great point. i don't know if we talked earlier, the fed, where are you with this fed? >> my feeling is they're going for the foreseeable future, they will continue to go. what you hope is they don't raise rates until they break the system. i actually like

they're saying warren buffett starts saying hey, is there something there.something there, there. >> i'm telling you, this is like buffett territory. >> okay. liz: charlie gasparino, thank you very much. when we come back, we'll have just a few minutes on this friday to see how this crazy day ends. dow is down 121. n independent fl advisor. it's our name on the door. we are accountable to our clients everyday. we have the freedom to build a plan. a porfolio based specifically on their needs. we're fiduciaries, stewards of our clients' money. entrusted to do what's right. it's a mission. a guiding principle our firm lives by. charles schwab is proud to support more independent financial advisors and their clients than anyone else. visit findyourindependentadvisor.com . . difference. at humana, we know that's especially true when you're looking for a medicare supplement insurance plan. that's why we're offering seven things every medicare supplement should have. it's yours free just for calling the number on your screen. and when you call, a knowledgeable lice

buffett adding to his position tiger management adding new calls on citi bank of america and jp morgan. tiger global chase coleman as it appear loose an david teper bying 100,000 shares worth, $20 million. these numbers are as of september 30th, notable because they show how hedge funds were positioned before october which was a tough month. energy and technology funds down about 8% and 5% respectively and activist funds down an average of 5.4% for the month. one exception is per shing square as bill ackman. his fund was up 5 appear a quarter% he said earlier today that his winning positions adp starbucks and chipotle were helpful to the portfolio because they had such little hedge fund ownership. >> it's sort of bet against the hedge funds has been a good trade this year. and hedge funds tend to be shorter term in nature hedge funds had a poor year. most funds down for the year people facing significant redemptions for sellers. we think that's an interesting sort of factor. >> now tomorrow is the delaine for many investors and hedge funds to give notices about whether or not they want

i can probably bet as much as warren buffett loves apple, he's buying it because it's a discount right now. >>> and a deal has been made. uk prime minister theresa may announcing in the last 40 minutes her cabinet is backing a draft of a brexit deal with the european union after five hours of debate behind the doors that are right behind her. they sat there at ten downing street, the residence of theresa may, argued and hashed it out and agreed, saying this is a decisive step which allows us to move on and finalize the deal in the days ahead and that this was the best that could be negotiated. the decisions made were not taken lightly. that's what the prime minister is saying. let's bring in our floor show. we have the traders at the new york stock exchange, the cme group. guys, the u.s. market not really sure of what to make of this brexit agreement. we now need all of the european union countries to agree to this, although teddy, i hear that ireland, dublin says we're fine with it. that of course is one of the rumors at rumor central. is this what kind of brought the markets off the

buffett had nothing to buy so he's buying back his stock then i read another article, buffett is butting stocks. this is glass half full. >> we have a lot of cras crash -- anyone looked at some stocks, there is a lot of crashes that's happening honestly it is huge number of ipos. >> ipos have not performed well. at least many of them. we have 52 lows. the list is fairly long. >> you are going to know and what's going to be next. evan spiegel, he's pretty bull issue, right >> larry culp bought $2 million of stocks. >> i would have told him to wait i was looking at how much stock jeff bough through his period? 88,000 shares of 28. 50,000 shares of 31. 141,000 shares of 25 back in march of 2014. >> those are statement buys. you want statement buys? how about ibm this morning four ibm directors and some smart people wily james owen. former ceo of caterpillar or anthem jenny rometty is buying $3 million in stocks her own funds. those are statement buys now we have to start changing it in that buy is a stupid buy. but, let's see if what culp buys is smarter than jeannie. >> ibm having moved do

you have warren buffett and jamie dimon saying get rid of the quarterly guidance that's required of soy companies. >> i think there are two different contributing factors to the talk about quarterly earnings reporting. one of them is just the work that goes into producing those documents and is there a way we can streamline some of that down so that companies can have a more efficient way to communicate with their investors and still carry the same amount of investor protection but just limit some of the work that goes with that. the second part is adjusting the investor view of a short-term outlook for a company versus a long-term outlook. we want to make sure investor protections are coupled appropriately with giving companies the flexibility to lead their companies for the long term, not just the quarterly results. that's something we engage very frequently with our issuers on as well as with the regulators and see if there's a way to strike that right balance. reporter: thank you. it's great to see you here at the "wall street journal" live event. i know you are heading to san fran

warren buffett is showing an appetite for equities.s than he has in more than four years. buffett spent $928 billion on buying back his own stock. that is a move he has spurned. influential tech investor in russia is not concerned about facebook and election meddling. bloombergr spoke to in california. challenges can be solved through a combination of human attention and artificial intelligence. they are always testing different products. confident this will be taken care of through technology. taylor: he was an early investor in facebook and twitter. global news 24 hours a day and at tic toc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm taylor riggs. this is "bloomberg." thank you. just getting headlines from angela merkel who is briefing on the coalition, the leadership of thecdu. she is insisting she can work well with any potential successor as the leader of her party. three maineeing is high-profile candidates for the job. there may be more. let us get back to harm bandholz and virg

the dow rose, led by financials after warren buffett's berkshire hath hathaway revealed it bought back a massive amount of company stock. investors are also looking ahead to the midterms today. if the democrats capture the house and republicans hold onto the senate, that is viewed as positive for the markets.allyto. >>> amc is hiking movieass prices in 15 states where it's the most popular, including the subscription service will jump to $24 a month. you can still get the $20 a month rate for the first year if you sign up before january 9th. amc service lets you see three movies per week. >>> no cooking required for this thanksgiving dinner. pringles is bringing back three favorites from last year's holiday meal in a can, turkey, stuffing and pumpkin pie chip flavors. the limited edition pringles go on sale at 11:59 eastern at kelloggsstore.com. they're sold as a three-pack of mini cans for $14.99. those are your cnbc business headlines. what do you think about the flavors? >> i hope that's not on your menu. if it is, you're coming to my house for thanksgiving. >> it's a no for us, fra

buffett, ask him.ess of at least unwinding itself to some extent. >> the exception to every rule, buffett. but also 3m, a different animal in a lot of respects you always wonder when it's going to get a little bit of depression >>> shares of apple under a bit of pressure after president trump threatened to slap tariffs on all chinese imports, including the iphone apple and microsoft neck and neck for the most valuable company in terms of market value. apple still holding the tospp ot by $6 billion. "squawk on the street" back after this >>> oil hover iing over $51 a barrel, up 52 slightly the past three days still in a very steep downturn, down 30% from its recent high, watching energy stocks as well, energy sector spdr has been tracking crude lower, down about 15% from its high. joining us now post nine to talk about oil and the stocks, managing director tim resvan also with us, head of energy resear research doug, how do we characterize where crude sits are we working through russia supply or is it a

. >> another big story you are watching, we heard from warren buffett finally, they shares after 20 yearsghing on the shares? >> you never know but warren buffett has decided this time to get out of walmart after a 20 year relationship. it used to be one of his top five holding that he just sold his final shares. >> any reason why? does he think the markets have topped out? >> he talked about retailers going out cycle. sears, he has clearly seen the and was slowly but steadily selling out his walmart stake. >> we -- what about the 2018 holiday season? is it as good as it gets? sit will be a strong one. all of the signs point to consumer sentiment is strong, unemployment is low. even oil prices are dropping so feel will not be as much of an issue for shoppers. we will see a strong season but again, there will be winners and losers. thinking the in rising tide will lift. we have a good story about that. >> thank you so much. walmart is among the companies included in a fund featured in this week's -- for that. check it out. this week, we salute the patriotic employer etf, better known as it

an and ceo warren buffett repurchased about $900 million in stock in the third quarter. shares at berkshire hathaway class a popped 5% to more than $323,000. >>> and after the bell, marriott international reported better than expected profits but the total sales came up short. and that sent the stock initially lower in after hours. it also finished the regular day down a fraction t $120.68. voters ico san francomorrow are going to the polls voting on a ballot measure that has divided the tech industry and urred debate over the issue of carpet responsibility. we have more. >> reporter: it's one of the most serious issues con fronting san francisco. the growing number of people living on the streets. san francisco currently has 7500 homeless ople, 1,000 more than it had just five years ago.no proposition c aims to solve the problem by taxing businesses in san francisco. up to 1.5% depending on how muc money the company makes. by doing so, the measure would double the cityes hom budget. >> we have a humanitarian crisis of epic proportions. >> reporter: the ceo of sales forc

warren buffett has been saying we are in the sixth inning and the big hitters are coming. jamie dime isn't saying 4% on the 10-year treasury yelled. if we are gng where the smart gentlemen have laid out, the economy is not the thing towat. ab but in the interim bank of america i the fear. one of the other names i mentioned nvr. people are nervous on the economy. i think the bigger risk is that e economy is going to do great and that stock and also like you talked aboutearlier, bond markets do poorly in the same time that sarckts do poor gli sfr. >> all right cole meed with meed capital thank you for your ideas. >> thank you so much guys. >> you bet. >> t amazon ceo jeff bezos is giving more thanio $-97 mi in grants to 24 non-profit organizations helping homeless families. these are the first donations to come fromezos $2 billion day one fund. the 24 organizations that were given the award serve communities in 16 states and tha tal. >>> all right before we go, one final look at the day on wall street f still looki a bottom in this market. the dow fell another 551points. the

all you can eat like buffett a and all you have to do is go out there and get the work done and people give you money to do it was amazing this year i'm probably going to be making around two hundred fifty thousand dollars is a lot of work involved a lot of work it's twenty four hours a day seven days a week. well i guess i should get back to work. here in an inhospitable the handful of contrasts before the boom will listen was a small conservative agricultural town and in many ways this aspect seems untouched everything has its own place including florida emptiness and silence the streets are practically deserted it's a town that has motion this within its history of the past. then you have another town the one that needs to welcome this new wave of residence oil company settling down a large numbers of extracting at least a million barrels of oil a day. this is the one we unpacked like a raft gift. without so growing up with a kind of uniformity copy and paste prefabricated never custom made. investors are right in that everything based upon a population that should be multiplied by

. >> is it the warren buffett quote that it's not until the tide goes out that you know who's swimming naked. it's true. when things are going well, it masks all sorts of inefficiencies, issues that are masked over. >> how do you deal with the personal fear? everything is going gr and then suddenly the bottom falls out, and how you do work with that? >> as a ceo, it's one thing i deal with all the time. so employees want their ceo to see them confident and capable and know what direction the ship should be steered. but obviously we all have doubts. i'm careful about what i say where. things i discuss with my leadership team is different. >> yet, still being honest with everyone, right? not painting a rosy picture when it's not rosy. >> absolutely. >> congratulations. you took both of those or one and then the other through hard times and good ones. zillow is doing great. >> thank you. >> good to see you. >>> for today's elevator pitch, we have done something special. we've partnered with shopify. they work with more than 600,000 mo merchants. we're here in l.a. where they've opened all

by the institute for policy studies found the three richest americans bezos bill gates and warren buffett were worth two hundred forty eight billion dollars combined that number is equal to the wealth of one hundred sixty million americans who make up the bottom half of the country's population when measured in dollars following the reports released senator sanders and nineteen other members of congress sent a letter to the trumpet ministration urging it to address the growing poverty rates the letter says trump's one point five billion dollars in tax cut signed into law last year quote overwhelmingly benefited the wealthy and worsened inequality and while many headlines concerning the report emphasize the trump administration's role in exacerbating poverty professor alston makes this important note six. yes of administrations including the current one had determinately rejected the idea that economic and social rights are full fledged human rights meaning if you're poor in the united states your government has never seen you as a priority in washington on your part r.t. . time now for a

warren buffett is -- people will buy? warren buffett is right on this one.nology for a long time. but he sees apple now has a consumer, as a brand that people will buy into. so it is that stickiness, that consumer stickiness that creates that ongoing demand for apple. even if apple just grows at 3% isthe rate of inflation, it a 35% upside from current levels. yvonne: you are still bullish on apple. are you bullish for the rest of tech or do you think that the route we see with the company is a negative signal for the sector as a whole? >> we are definitely seeing some evidence of the tech are starting to bottom. the reason why i say that is because the semiconductor firstry was actually the sector, the first industry in the tech sector to fall. what we have seen recently is that a lot of these companies that have pulled back their forecast for q1, a lot of these stocks are actually above where theirort of postered lower forecast. you are certain to see evidence of applied materials trying to put a floor in. i do think that, if we are not at the bottom, we ar

way of knowing for instance is it a big market thing is it a small market thing we've seen warren buffettfor years buying up these small town newspapers high school sports as they say we have no way of knowing but i got to think that in a small town when a big picture of that kid scoring the winning goal comes out that gets cut out and mailed to grandparents somewhere else so i think there will always be a hard copy and undeniably there's a demographic skew to it we were talking earlier in a meeting and somebody made the point that talking about c.n.n. that c.n.n. had less viewers but more revenue and it made me think about the tribalism in media that we see it not everybody gets fox around but with the world but the different the difference between fox and c.n.n. or m s n b c here is their tribalism in media i mean the president obviously present job doesn't like the new york times but how does that play out in print i think print is going to inevitably follow what you see here on cable because information is a commodity you get it on your phone if you're a little older you get it on you

warren buffett continuing to bet big on banks. they took a $4 billion stake. and now has a considerable sake. they increase the holdings in the bank of new york. and usd. and three quarters% in after-hours trading. thank you. let's check the stock market futures right now. still in negative territory. and the nasdaq of 15. victoria's secret ceo gets the boot. we will tell you why. [music] we will have highlights from the cma awards. (vo) 'twas the night before christmas and all through the house not a creature was stirring, but everywhere else... there are stores open later as people seek gifts or even give some. not necessarily wrapped with paper and bows, but gifts of kind deeds, hard work and cold toes. there's magic in the air, on this day, at this time. the world's very much alive at 11:59. welcome back let's get you cut caught up on what's happening now. checking the u.s. futures. meanwhile michael avenue and 90 the attorney for storming daniels is denying allegations for domestic violence. >> i have never struck a woman i never will strike a woman. i am

what have warren buffett on the show on their network at all he does is equity buyouts and mergers and gets free money from the fed and doesn't really create anything so that's the difference between our show and c a b c is that we're helping change the world for the better a c. and b. c. just helping to sell to the. and to put so in terms of how people how these new billionaire class member their wealth increased by nineteen percent in the past year or so where they're making it in europe and the u.s. a lot of it is being inherited up to forty percent i think that's mostly in europe but in china the chinese cohort is ninety seven percent self-made many of them in sectors such as technology and retail eighty nine chinese entrepreneurs became billionaires and twenty seven thousand roughly three times more than in the u.s. and europe well the catch of it all for the script a billionaire is a new billionaires is any money that they put into fear will get obliterated because read into a fear inflationary apocalypse and a bomb collapse so those crypto billionaires they need to store their w