man who would be buffett, perhaps.ld berkshire vice chairman greg abel one day step into the shoes of the oracle of omaha? tim cook and greg abel, next on "countdown." ♪ ♪ at comcast, we didn't build the nation's largest gig-speed network just to make businesses run faster. we built it to help them go beyond. because beyond risk... welcome to the neighborhood, guys. thank you. there is reward. beyond the classroom... there is inspiration. ♪ ♪ beyond work and life... who else could he be? that's what i say. there is the moment. (laughing) beyond despair... there is hope. ♪ ♪ stay safe. i love you mom. i love you too, sweetheart. ♪ ♪ beyond treatment... ♪ ♪ there is care. say hi to grandma and grandpa. ♪ ♪ beyond technology... there is human ingenuity. every day, comcast business is helping businesses big and small go beyond the expected, to do the extraordinary. take your business beyond. [spanish recording] so again, using "para", you're talking about something that is for someone. ♪ pretty good. could listening to aud

of course, we mean warren buffett. you can see behind me here, this is the big welcoming sign for berkshire hathaway annual shareholders. today, they have opened this area and we're at the heart of omaha. it's called the chi arena now, but it used to be called the quest center. i think after that it was century link. but all these people own at least one share of berkshire hathaway stock. that's how they get in. some 40,000 people were expected to make their way in through the convention center to see all of the wares and of course, see warren buffett and speak to him and listen to what he has to say, but we just spoke to warren buffett and we can tell you that he said he expects to break last year's record of 42,000 people here. the doors, can you turn right and look? they are expecting to sell more than three tons of chocolate here. they had 18-wheeler trucks coming in to buy, of course, one of warren's original wholly owned companies, and the doors just flew open about two hours ago. you want to see that? we have vi

buffett put that on and i think it offsets it. does it bless technology overall because warren is in there buying i'm not necessarily sure i agree with that. but technology -- >> why not >> well, because scott, technology has been the place to be over the last four or five years. >> i don't want us to get confused he was specific to becky on what was behind this or who was behind it. let's listen more to warren buffett and then we can talk more on the other side >> one of them bought some amazon, but so it will show up on the 13-f. it is not true to say that i am buying amazon. it's true to say that berkshire has bought whatever shows up there. >> all right, so, i just wanted to play that so we're clear, as you talk about it, this is not warren buffett buying amazon it's the guys who work for him at berkshire hathaway buying amazon i give it back to you. >> yeah, but again, that's where i'm saying, i want to -- i want to learn more about them they are the future, right would you not agree with that? >> of course but if you say, ok

>> so we -- you don't follow warren buffett warren buffett has stayed away from technology. the tech that he bought was apple which is good and ebb which was terrible. >> not tim, talking about tom and ted. >> tom, tim. >> warren buffett is on mount rushmore, right? all those things mickey mantel. >> and even -- >> the other conversation, but i'll mention this, when he -- when they announced they'd bought j.p. morgan that was so not a warren buffett-berkshire hathaway buy why because it was trading 32 times book and i'm sure mr. buffett is overseeing this, but there are clearly other people now making decisions, so i don't think this is a berkshire hathaway purchase of ten years ago or so. >> i also think warren buffett does an excellent job at making investments for a horizon that a lot of investors aren't ready to do >> they're not our horizon >> you made it a point to say it wasn't his purchase. >> he made it a point to say it wasn't his purchase which makes me think it has zero to do with any of his history about being the top investor of our life >> i just want to say f

so why is buffett so interested in this deal well buffett's company berkshire hathaway owns northern natural gas and that's the nation's largest interstate natural gas pipeline system and by. into a possible combine occidental and darko berkshire is making a big bet on u.s. shelves since both companies have a holdings in the permian basis now occidental oxy as they call it and industry reportedly may seek to sale and darko stake in pipeline affiliated western mainstream midstream partners as part of the ten billion dollars plan asset sales that would be part of the anadarko deal also buffett's commitment to invest ten billion dollars in oxy to finance to end a darker deal is a classic move by buffett highly favorable to him and costly to the company now the structure of the deal is actually very similar to a profitable transactions that buffett's company did with goldman sachs and during the two thousand and eight financial crisis now it's very rare for buffett to participate in any bidding war for any company that's just not his style the last time he did do was in twenty sixteen su

warren buffett telling biky quick that brookshire hataway has been buying amazon stock you will hear from warren buffett coming up later on in the show a sizzling debut we'll find out what's driving wall street's insatiable appetite for that meatless stock. we count you down to the big jobs number. we'll break down the key numbers inside of it that you need to watch. facebook, watching a big crackdown on what is calling extremist content. we have got a wild stat about the horses that you have just got to hear. it's your rbi. we'll have it on this friday, may 3rd, as worldwide exchange begins right now >>> good morning, good afternoon, good evening, skps good morning from wherever in the world you may be watching. i'm brian sullivan looks like a happy friday early on ahead of the big monthly payroll number, which could change everything we'll get more on the expectation for that first, we have got big brnds on amazon.com warren buffett telling becky quick that brookshire hataway has been buying amazon buffett making it clear that he is not the one buying amazon stock, but others in hi

buffett.y arranged the sale of african assets apart of the company for $8.8 billion in a sense already deleveraging the balance sheet to some ext t extent and their shareholders at this point at least, not reakicting o badly. what about the government? don't we have a role to play and should we have a voice in some place? >> people are going back to hershey and dardin or chipotle, that really makes sense because it is red hot and they're going back to red hat. mccormick, they're going back to the company you buy when you think there is dpoigoing to be recession. it is really boring if they kee on doing that. >> they were down about 3.5% and deer now amd. >> micron. >> when luke at syou look at sk, they're going to pummel on it. a lot of china exposure. the company that i thought would be down more of their stocks, i would thought walmart. produce. these dpguys bring in a lot of stuff from china barely down. >> what do you think of that >> you know it is not good when qualcomm is down >> their

look, i get that buffett's blessing is definitely worth something. amazon surged $61 today on the news that a portfolio manager at berkshire hathaway actually bought some shares but that's kind of nuts well i've been a big fan of amazon for years, it's madness to bid the stock up 61 bucks because one of warren buffett's employees now likes it too that's the kind of hero worship that gets you in trouble borrowing money should be an economic decision. tesla made the right call, creating a situation where it could borrow at a ridiculously low rate and elon musk deserves our respect for orchestrating this but occidental petroleum's decision to take this $10 billion from buffett, i'm calling it ill advised you could easily get a better deal i hope it works out but as i always tell you, hope should never be part of the equation. stick with cramer. ♪ ain't no mountain high, ain't no valley low ♪ >> ain't no mountain high enough, ain't no river wide enough to keep portfolio managers from getting to you think about that song whenever you see down and out stoc

that's working so well with buffett. you go back to the goldman and ge i mean, committee get -- it's for his -- his -- gist his credibility. think about where rates are and what pension plans are dealing with in terms of long-term assumptions about guaranteed returns per year if you can just do 8%, you just for a large part of your portfolio, if you could do 8% or 10%. >> it's so good to be warren buffett with that deal >> it's not just -- look, it is the good housekeeping seal of approval that comes about that, but it's also having the cash. if you are willing to sit around and have 11 billion dollars in cash on hand -- >> can you do with it in a day and a half where. >> he got criticized all the time >> i think about -- >> it's like here's what we're thinking, warren what would we need he is just apparently 8% if they say yes, i don't think it takes much longer than that, does it? >> think about it. if you had to go to a bank, look, the fact that ryan moynihan was the one calling remember what happened >> what's it cal

becky quick sitting down with legendary investor warren buffett in omaha listen to what he had to say apple buybacks >> they are repurchasing shares. when they repurchase shares our interest goes up and we don't lay out a dime i love it. obviously it is better to buy it at x than 2x >> they said they have reauthorized up to $75 billion in additional shares. >> yeah. >> are you behind that you are in favor of that, i should say wildly in favor of it. >> and that was just one headline from the interview. becky quick joins us now from omaha with more. hey becky. >> hey mardi grasson good to see you. tim cook was actually here this time at the annual meeting for bark shire hathaway for the officers time. obviously for berkshire it is a big deal, apple is their biggest equity holding and for apple, berkshire the third largest shareholder in apple tim cook told me when it comes to buybacks, buffett schooled him long before buffett was actually a share holder in apple. >> this is a funny story back in 2012, i -- i had been in the ceo spot maybe a year or so. we had a growing amount of cash.

joins us with her conversation with buffett ahead of a weekend where there is a ton of subjects wherecould make news. >> yes that's the thing about this weekend. berkshire is involved in so many different businesses, so many industries, and owns so many different equities that anything, basically, could come up and it could be a topic of conversation here and it can definitely make news sometimes when we catch up with warren buffett he will tell us what he is buying, what he is not buying what is interesting this time around when we talked to him is what he told us berkshire is buying but he made it clear he is not the person behind the scenes pulling the strigs on that listen in. >> i will tell you one thing you will see in the 13-f which comes out in a couple of weeks which may cause you to ask me that question in the next two weeks which is really not significant from my standpoint one of the fellows in the office that manage money. >> todd and ted. >> todd and ted. one of them bought some amazon so it will show up on the 13-f it is not true to say that i am buying amazon. it is tr

she had $10 million from warren buffett.an get this through without shareholder approval. tothis point, she is able secure it and maintain occidental as prime in permian, shareholders will support her. veryyou noted these signs -- the size variance. chevron, $160 billion revenue. total, $198 billion. 1/10 of these players. how will their shareholders respond? we have any knowledge of what occidental's major institutional shareholders are actually doing? annmarie: it is interesting, because before this, they did not want this to go through. but now she has more money coming into this deal. she has brought on total. she does not even need shareholder approval at this point, to get it through. i think the fact that she has brought in a lot more money and, if occidental is able to get anadarko's play in the permian, i think she will be able to stay in her position, and she will get a bit more shareholder approval. but the fact that they are so tiny and are up against this major oil giant -- many people thought they were crazy. a

it now has the backing of warren buffett.tes the litigation it will have after the deal. the question for me is whether oxygen or shareholders go over -- whether occidental shareholders go for this. david: they will be paying out of their pocket because they suspend share buybacks, they just announced. brooke: right, and the terms they are giving to warren buffett are very expensive. investors are worrying, is this all worth it? are you giving up too much in the quest for this asset? is the ceo to obsessed with it? is she seeing the economics and the right light, or is it more about winning here? they may not need to get shareholder approval to get this deal done. alix: and buffett says he might even be willing to put more money into the deal. do you think this is a good deal? ark: no, i don't think it is a good deal. it will be structurally tough for occidental to take down. you're going to delete a lot of your chemical flow. just given the global construct and breakdown of gdp. at the end of the day, it is going to happen.

i spin my wheels warren buffett says one thing, and he gets a column anywhere, warren buffett, berkshireved, too, becky that's so exciting. >> he has. bill gates is here and obviously you know he is the founder and current technology adviser at microsoft he is also the co-founder -- or the founder and the co-chair of the bill and melinda gates foundation and gentlemen, i want to welcome all three of you this morning and really thank you for being here you heard at the top all of this concern about china. this is spooking the markets a little bit today joe's right, it's a decline of under 2% for the dow but still down 360 points is a number that catches your attention and when you look at china's markets, down 5.5% and down 7%, that is certainly something that is catching their attention today, too i can't think of three better people to talk about this this morning. bill, you've spent so much time going back and forth with china. you know the chinese leadership very well and can understand maybe what they're thinking on some of these things charlie, you've spent so much time getting exci

buffett had its -- had his shareholders meeting.praised the retailing behemoth amazon as a company and investment. he is not alone. su: the praise for amazon keeps heaping on. fridaygot a big bump on when it came out ahead of the shareholder meeting that amazon's fund manager had been adding shares of amazon and the billionaire buffett himself said he was an idiot not to buy company.ot the and then the cofounder of home depot and now an author saying in a recent conference but he highly of the company amazon and the ceo, kind of giving if you can't beat them, join them kind of message. >> what you want to do is study amazon and learn what they are doing right and try to improve on that. i give this guy credit. , developedid technology and is doing it. su: don't be a hater, look at what he is doing. that is the message and they recently reported a record $3.6 billion profit. you can see the returns of the stocks making it one of the best reporting thing -- faangs. falling right now, so what should investors focus on? su: that could h

>>> make sure you join us next week huge show with warren buffett on monday in omaha. "squawk on the street" begins right now. >> good friday morning, welcome to "squawk on the street," i am carl quintanilla with faber and jim cramer the new york stocks exchange, vice president pence is going to join us this hour talking about the number and the fed and the economy at large futures added to their gain since the print and a lot else to watch including buffett and soft bank and tesla. europe is green. our road map begins with amazon getting a buy from bershire hathaway but not warren buffett himself. amazon is apart of the story we told you as well >> i po rush closes up 163% why that may not be a good sign for the rest of the mark >> we'll start with april payrolls better than expected 263,000. construction and healthcare. unemployment goes down to 3.6. the lowest level in part to a slight drop in the labor participation rate that matches last month's increase there has been some talks about for example census bureau starting to hire for the survey next year could infla

you know there's not been a lot of conversation about where warren buffett plays into this and he was willing to invest up to twenty billion to make this deal happen he's got a sweet deal about one hundred thousand shares at an eight percent dividend and so i think with that kind of backing chevrons probably going to say well there's there's other fish in the sea and i think that's what the markets pricing in. the dark which trades currently at that offer price. right now chevron has until the end of this week to respond and as you mentioned there are plenty of fish in the sea so whole other acquisition targets are there for chevron at this point. i think some of the broad strokes would be some of the obvious players i think chevron will sit on the side i mean right now we're looking at a fifteen percent premium for anadarko compared to other players in the area but i'm thinking parsley pioneer or possibly concho but i think shutter will take their time i mean not a chevron nor nor you know now with the same with oxy needed shareholder approval so there's a lot of skepticism there wit

that means he won't run the place, but he will make sure that the buffett culture continues. new hampshire for our regular program and then sunday at 7:00 p.m. eastern we will hold a town hall with the big surprise so far in the democratic race, mayor pete buttigieg. again, 7:00 p.m. on fox news channel. that's it for today. for all you moms, have a wonderful mother's day and a great week and we will see you next "fox news sunday" ." ♪ >>> manother huge crowd in atlanta where, today, the defending mls champs continue their recent resurgence. orlando city in town between two clubs with a rise in the eastern conference standings. last season atlanta martinez set goal scoring records entrout mvp honors. venezuela on target four times this season but he has had had hand in four goals in the last two matches. he highlights the first half of our fox soccer double-header. later today we take you to northern california. the u.s. women's as they continue their preparations for next month's world cup. the defending world champions host south africa and this is the first match since man

warren buffett said he underestimated the online e-commerce giant.e has called himself an idiot for not purchasing shares. he has avoided tech stocks in the past. one exception was ibm. he invested $10 billion in the computer giant in 2011 but it did not pan out so well. he sold nearly all of his shares in 2018. joining us to discuss this is our reporter. any details on why amazon would be one of the few tech stocks he backs? >> i think this investment is mostly about berkshire hathaway changing. over the last few years, warren buffett has prepared for a life when he is no longer around and he has hired two stockpicking deputies. what they like may not be in what is histraditional wheelhouse -- in the value stocks that do not tend to be in the technology sector which warren buffett has long said he does not understand and he has avoided it in part because the valuations of the shares are high. emily: i wonder if going forward it will be harder to say -- i am not investing in tech when every company is aspiring to be a tech company and technology is c

i think right now the main synergy at play is that you look at warren buffett willing to bankroll you from ten to twenty billion i mean that was what he publicly talked about this past weekend that the berkshire hathaway shareholder meeting so i think when you've got that kind of backing it's a big boost to the permian basin i mean when buffett says this is the real deal and is willing to spend that kind of money i just don't think the story is a whole lot bigger than those ten billion dollars one hundred thousand shares that a percent dividend i mean he's willing to spend the money to invest in that area so he's he's bullish on the area and so again i don't think chevron comes back with a counteroffer i think they'll look elsewhere but this is a very good boost for the area and i think it's very bullish for investment and it's interesting news for folks that are looking to invest in that area not just buffett but folks mainstream folks thinking is the real deal it sure is right and right here we want to get i want to get your take on some breaking news today the u.s. state department

chris: howard buffett has led a varied life.s done construction, worked for a candy company and has been ago bring business executive and is now a farmer. for two years he was the sheriff of make con county illinois. there is something else we should mention. he is one of billionaire warren buffett's three children. which means he gets a lot of money for his own foundation. >> we get stock from my dad. somewhere $185 million today. we try to give away what we bring in. chris: any idea how much you have given away over the years? >> $1.4 billion. chris: he focuses on improving food and water access in other countries and stopping international conflicts which takes him him to interesting pl. >> i got hit in congo with a rocket. chris: he take him to survey farms his foundation own on the southern border and get briefings from local sheriff. >> they will get the other criminal element to come to sector b. chris: he has written a book on the 50-state border crisis. >> we are in a fight. if you had 70,000 u.s. citizens dying any oth

do we agree with the buffett children of the executive pay is broken?well i don't agree, here's why, these ceos probably have the responsibility, 14000 times more than the average worker there, a guy like iger at disney has a revenue, it's probably bigger than the size of a country of trinidad into bongo, they employed 200,000 people directly, they probably indirectly employ well over 1 million. they impact and enrich the lives of billions of people, these are small countries these people are managing. there is only a certain amount of iger's out there, you may say he does a terrible job, and that's a decision of the board. this is a powerful complex just an amazing job these people are doing. i wouldn't venture to say a people like henry ford impacted the world economy, probably more than 75% of the presidents we've had up there. these people earn their money. so gary, right up until the end i would say i completely disagree with you and that i agree with them and where you did your argument and is that henry ford was an entrepreneur. he created the co

buffett will talk bezos.loomberg "surveillance," live on jobs day. tom, francine lacqua from london. how do they drive forward the brexit conversation? francine: gives an indication of what the citizens of the u.k. are looking at, whether they are mad at brexit and what party they want to vote for. it may focus the lines of the labour party and conservative party. both did badly on elections, but in terms of the market, euro area inflation accelerated after a string of upbeat data, so watch for impact on future expectations for the ecb. tom: we will have the data through the day and into the weekend. here is sebastian salek. sebastian: it is about time a woman led the european commission. that is the opinion of one of the candidates for the top job, and she expressed concern over letter turnouts at the election. it often leads to members who do not want to make it work. >> the most important point is to say we need a gender balanced commission and if you look at all of the commission presidents, it is about t

same thing with some of the airlines that was originally one of todd's or ted's ideas, and buffett went along afterwards. i don't have any indication about what to think with these amazon shares, but at least i noticed earlier today, they were trading higher. >> they were, 3% or so last thing on this i sometimes just wonder -- and again, it's a rnging endorsement for amazon, that one of those managers even sees a lot of value there, given that the company's nearly $1 trillion in size but i do wonder if the berkshire portfolio is starting to resemble that of a more traditional, typical portfolio manager and becoming a little less unique. they have underperformed for the last couple years, berkshire overall, and i just er, you know, it's starting to feel a little conventional to me. >> that's probably a fair assessment, but when you look at the size of the portfolio, it's $210 billion i think it's hard to find things that aren't mainstream it's hard to find things where you can actually move -- see some of the unconventional things when you're looking at things like the occidental bid ear

warren buffett's buying this company and you know what? he really wasn't and it was someone else underneath him and i also like what i see in facebook because i'm a believer as well and i think it's the upside >> i care more about warren buffett's 13 fs from everybody and we know who the major hedge fund managers are and i have no idea what that position is today and war ebb buffett long term. >> this will be consistent for 2019 they'll be the ones that they always buy on pullbacks. >> up next, final trades in the . demand the best. demand a cfa charterholder. cfa institute. let's measure up. let's hold ourselves to the highest standards of ethics. as investment management professionals, let's measure up. cfa institute. >>> time for the final trade petey. >> i like what i saw today amgen. buy and calls, giddy up. >> the conversation is about what's the multiple that you want to pay. it was a hard wear company and now it's a software and security company and i think it's higher than 17. i'm long >> chairwoman. >> two things, hiding out is s

that means he will not run the place but he will make sure the buffett culture continues.new hampshire for a regular program and then said that at 7:00 p.m. eastern we will hold a town hall with a big surprise so far in the democratic race, with mayor people to check, that is 70 and. for all you moms have a wonderful mother's day and a great week. we will see you next, fox news. >> happy mother's day and welcome to a special episode of moms, i am your host and today we are talking to a group of moms that support president trump. these women are gonna support a chair what it's like being moms in the trump era, why they support the trump in the struggles that come with that decision. >> i see a lot of women. [cheering] i'm so confused, i thought women did not vote for donald trump?

buffett refuses to do that he's matched the market's return over five years.ears he's doubled it. >> in my book only the second chart matters. you've got to compare total return -- >> typically if you're talking about investment experience. >> but that's what i was going to just double-check on. his phenomenal record and brand image for being the best does stack up long term by beating total return >> oh, without a doubt by a lot most of the outperformance in the company was somewhat smaller when in fact the investment portfolio probably mattered more than it does right now because of course the operating businesses of berkshire are vast and really look like the u.s. economy. >> i wonder if he's going to get questions about that he's such a proponent of index funds and just buying the next fund and holding it. this suggests in the short term you'd be just as well, berkshire stock or an index fund >> and i don't think he would denao ney that he'd say we've done well over a long period of time. he loves to collect dividends. he won't pay one he advises people to

eastern, we've got warren buffett's kids, susie, howard, peter. governor is going to be speaking with us, and the ceo of home services america. stuart, the largest residential real estate company in america. warren buffett's done it. back to you. stuart: 3:00 this afternoon. liz claman, everyone. thank you, liz, we'll see you soon. thank you. >>> let's get to facebook. banning some right-wing commentators. coming up, charlie kirk, now, he says when big tech bans conservatives, everybody should be worried. he's going to make his case momentarily. actually, he's next. >>> chinese hackers might be listening and watching everything you do and say in your home. those internet-connected baby monitors and security cameras, they're vulnerable to chinese hacking and spying. what a story. more "varney" after this. ♪ ♪ stuart: we're up 122 points as we speakd 25 of the dow 30 are in the green. that means they're up. this is a broad-based rally. the nasdaq is up about 100 points. 91, to be precise. >>> facebook are going to announce some high profile purges,

list claim just caught up with warren buffett and charlie monger.or breaking news. >> charles, you see them in the golf cart. they do not usually make an appearance during the first day. we wept back to meet with all managers of some 90 companies. i had an opportunity to talk to them specifically, we're here at coca-cola. since we landed yesterday team "countdown" has spoken to a lot of people in omaha, shareholders of coca-cola and berkshire hathaway who late last year were not happy when coca-cola announced it was possibly talking about making a partnership with a cannabis or a cbd or marijuana type of company because it is sort of the new nascent industry that is out there. i specifically asked warren and charlie about that. listen to their response. i did talk to a coca-cola shareholder yesterday who said if coke were to get into cannabis or marijuana partnership, this person would sell their shares. would you? how would you feel of getting into cannabis. >> a big mistake. but we wouldn't sell it. >> why? because they have such a wholesome image

but also talk about warren buffett. was amongst the most read stories, warren buffett making a $10 billion investment in occidental. there is a lot of m&a talk in the energy space. jason: here is what he had to say. >> first quarter, oil prices down. bang on expectations and earnings, operations worked very smoothly. very pleased with the earnings, no big surprises. jason: steady as she goes. one of the things we are always interested in is what trading business. tell us what was moving their. -- there. >> we had a big quarter in trading. bit,rices were moving a oil prices are very volatile. three or four days down just on a sweet. tweet.a everyone is waiting to see the extension of the iran waivers. if they are extended, i don't think you'll see the prices dip. what is your big concern in 2019? >> we plan on $55 a barrel. ,f i worry about it longer-term we end up either with a spike or a drop, that's not good for the world or for planning. be in this we will fairway of 60-75 for 2019. ? i wonder about the role that pri

you can almost call him the warren buffett of canada.eason he is so important and this firm is so important right now is because they are nipping at the heels of blackstone in terms of assets managed around the world. they have property everywhere from manhattan, canary wharf in london, infrastructure everywhere. carol: that's something you have really done into with it. jason: absolutely. they are on the forefront of trying to figure out if these public-private partnerships will work. here's what we had to say. >> inevitably, all infrastructure will transfer into private hands, but until the point that governments are either stretched, or governments and the individuals who run them are pushed, it's easier not to do it. people yell at you when they have to pay for the toll on the road they did not have to pay for. it's going to be slow in the otc countries, but it's coming in eventually. jason: is there still appetite for that investment? >> yes, there is a lot. the largest business in the world's real estate. second-largest is the infr

when i started covering warren buffett, it was 90 billion. now it is 200 plus billion.o. he will never say you don't need to know. nobody needs to know b that is not something he ever would have done. that goes to show he is really stepping back. charles: we know he is in apple but that has a 17 pe. 81 pe, it speaks to maybe a new generation? they still consider this, someone in the organization considers amazon with an 81 pe a value play? so is this the way it will to? so glad you used v word. not exactly a value play. he said, liz, any stock i think you is a great company like that is valuable. he was so positive about jeff bezos, he said during the shareholder meeting i wish i could take a blood transfusion from jeff bezos into my arm. they're always joking around. there is not any kind of monkey business with these guys. you wonder who will take over for him. when i had the opportunity in that scrum, the famed scrum, shareholders, international media descends around him before the shareholders meeting, he is eating ice cream bar it is insane. he owns dairy queen. ch

going forward i mean the idea of getting a porterhouse steak will cost $500000.00 and only warren buffett will be there smith and wollensky every year having lunch with a billionaire eating a real meat that was taken from a cow that will be $500000.00 meanwhile it will also be eating bug incrusted bug dogs or bug meat and you know harvested from the locust set are invading our daily lives in a biblical nightmares and then frying that up as an upside of having uniform basic locust meat baddies out there be bernie sanders and nancy pelosi get everyone's going to get and andrew yang universal basic yak meat not even the acme as the acme you know i mean you know nick. and meat you know more than i but i'll tell people will believe it within 5 years people will believe that unicorns are real and will be in the period of time where oldsters that we remember a time before unicorns existed and you know another myth going around is that the fed is unwinding q.e. the economy is amazing there's real growth everything is perfect and all those newly minted billionaires on wall street member jamie diam

>>> and keep calm and carry on that's warren buffett's motto. he was on cnbc weighing in on today's drop trade tensions and his favorite stocks "power lunch" starts right now >> and welcome to "power lunch." melissa lee, stocks are down at this hour and trying to make a comeback the major averages are well off the session lows dow down more than 470 points in the session and dow down under 200 and nasdaq more than 2% and down under 1%. oil prices bouncing back after falling below the 50 day moving average for the first time since mid january. much more on the oil trade straight ahead and in the meantime, bob pisani at the new york stock exchange for all of today's action bob? >> the additional tariffs. it sounds pretty serious but the market reaction indicates that traders don't believe an all out trade war sis imminent. the low print at the 2898 on the s&p. well off the lows there indicating initial sellers were not met with waves of additional sellers after that the vix or the volatility index, it's 16 now, indicating options traders are not f

warren buffett buying into amazon.avoided the area saying he does not understand the markets well enough, but now he is buying. joining us now is michael moore. we are talking about this before the weekend in omaha that will see earnings alongside the big extravaganza that is the berkshire hathaway meeting. this amazon buy in, why are we so surprised? he bought into apple recently and said he was sorry he did not do it earlier. isn't it the same with amazon? >> it's been on quite a run but this specifically is not warren, it is one of his deputies. this is a sign of some of the changes. warren used to be directing all of the purchases, but now he has two directors that run a piece of the portfolio. he didn't say which one, but one of them was the one that got them into amazon. on theve both weighed apple stake as well, and so they run their portfolios independently of war and. they all talk to each other, but it does show perhaps a more diversity of views, rather than just warren himself. for the most part, he has stay

buffett holds the auction once a year and he has raised nearly million for glide over the years. he says he supports glide because it helps people in difficult situations find hope again bidding concludes on friday. and if you want to strike it rich the mega millions drawing is tonight the jackpot now at 418 million bucks that is the 9th largest prize in the history of the game. the last time somebody won the mega millions jackpot was back on march 1st when it was just $50 million tonight's drawing is at 8 o'clock just. >>stuff taking a live look outside right now at san francisco's embarcadero a little breezy out there but no no clouds and much warmer than normal. >>morial days large karnow joins us now and you're look at long-term mrs may be really get a feel like summer. yeah, this is going to be our first real taste i think of that heat of course we've had all that rain now and everything's grown again so you know what we've got a lot allergy issues right now is the pollen count. >>been running high today. i think it runs high again tomorrow. i think maybe backing off just sl

says glide gives hope to the people who society has otherwise given up on buffett was introduced to glide by his first wife susie after she volunteer there. she died in the year 2004. but the connection has endured the auction will run until friday. in washington was again a republican congressman has thrown up a roadblock to the disaster aid bill capitol bureau reporter, anna werner key reports on the latest dust-up over a bill that would provide billions of dollars to help californians puerto ricans and other americans. >>still suffering ter natural disasters. >>and i object for the second time in less than a week alone republican blocked the house from passing a billion disaster relief bill. this time it was kentucky republican thomas massie speaker this house should have called a vote. >>on this bill before sending every member of congress on recess for 10 days massey objected to a move by democratic leaders to fast track the bill and pass it will most of congress is away from the capitol on a district work period. >>but house democratic leader steny hoyer says the bill is criti

. >> and billionairenvtor warren buffett acknowledged that a dangerous game is being played by the s two biggest economic superpowers. mr. buffet made his com during a wide-ranging inthe view on cnbc tod whenhe asked him about the potential for an escala ton in tradesions. >> what do you think about the potential for trade tariffs coming back on and what that might mean for the trade talks? >> well, i can't gauge both sides and how they'll play the game. an some peopleegotiate in different ways. if we have trade war, it will be that for the whole year. it depends on the extent of the war. but there are times in negotiations when you talk tough. the one thing you c't do is you can't shake yourfi . i mean that is not a technique that works well. >> mr. buffet did not try to put odds on how the traud talks would turn out or mr. president trum whop follow-through on the tariff threat. >> but that threat has economists crunching numbers to figure out thei impact of tarifs on the economy. steve liesman has that part of the story. >> president trump's tweetlahat he would tariffs on chinese