the statistics buffett faithful don't want you to see. and charlie breaks it on a possible breakthrough in the t-mobile/sprint deal. less than an hour to the closing bell on this tuesday. let's start the "countdown." liz: we have this breaking news we need to get right to you. we are getting the latest statistics out of the gulf of mexico. the u.s. government is now saying that hurricane barry chopped off 58% of crude production and 51% of natural gas output. you can see, though, oil is dropping by about 3% in the aftermarket. if you look at these two stories, number one, barry, workers are slowly returning to the production platforms, 171 of those platforms were evacuated due to the storm. but president trump's positive spin specifically on a couple of issues here, and what do you see here, his positive spin on iran today is actually putting pressure on the commodity, turning tailwinds into headwinds at least for prices. we also had secretary of state mike pompeo saying the iranians are ready to do some dealing, some negotiating, some ta

buffett or somewhere else to get that $10 billion because anadarko was insisting on 75% cash.u reject that argument? say in your letter, you know somebody else who would i provide the same amount of finance and. who is that? carl: i am not going to go into that one. when you do --l, admits she has little experience in m&a, so you wonder why she should be the ceo to do this. millions in m&a and no experience. if they really wanted this company and they really thought it was good, they could have gone several weeks earlier, maybe a month earlier. chevron wasew that talking to anadarko. she could have come in and put a , and then before definitive documents were done with chevron, before the deal was done, i think the company and anadarko would have to listen to her. then she would not have to panic the last minute and spend annexed or billion for buffett, and an extra billion for breakup fees. $2.2 billion that was thrown away. worse, andetter or in your case that is worse, that is now tantamount to change in history. what could have happened several months ago does not really m

president trump and warren buffett or people who are supportive of crypto?re actually both right. i mean, the thing about crypto, it's a very complex topic. most people don't understand a lot of it. that said, there are risks with crypto that need to be addressed and should be in the public domain for us to talk about. trump going on and talking about bitcoin actually did, i would say, more for bitcoin than against the dollar. after all, this is one of the first major acknowledgments of this currency and it's going to have real big implications for bitcoin going forward. liz: it's in its incipient stages. president trump will probably start welcoming and thanking people before his speech. is he right? does he put cold water on a nascent new development here? >> i can't believe i actually agree with president trump on this. i agree with him on something. not only do we have these individuals who have qualms about this, this is an idea that's fraught with all sorts of issues. liz: hold on. i have to interrupt you guys. let's listen to the president now speakin

because buffett's not sociallily media active but he's certainly been around a while. >> it's his agend also where the population density is. one would that imagine that omaha, for example, has less population density in his specific zip code than say, seattle or san francisco suburbs, like where mark zuckerberg lives so i think it's a combination of all of those things. i tried it out on myself and i only have auniqueness, so well below average, but i live in manhattan where there's a greater population density than you might have in some other parts of the united states >> interesting i did give leslie my information. leslie, i'm not sure if you ran it, but i'm not even sure i want to know at this point. >> i didn't -- >> i wonder if it changes anything that i'm canadian >> i think being a san francisco native -- or a native now, at least, might skew the data to be a little bit more, you know, closer to where i'm at, lower than the ease in which someone might be able to re-identify a warren buffett, say. i do think that has something to do with it, as well as the age there aren't th

warren buffett will donate $3.6 billion in shares.nd joining bloomberg investment banking reporter. we kind of felt it was coming. >> 20,000 is a lot. it will not be right away. it will be over time. 20,000 is a big deal. and beyond that, when you cut jobs, you save cost. do you affect the topline? the tricky part, how do you cut costs without affecting the topline? >> and remember when you're cutting jobs, it is costly. and so bank of america is seeing that. david: particularly in germany. alix: germany needs to raise 5 billion euros. >> it is something the ceo does not want to do. upwill see how they end maneuvering without raising any money in the meantime. ,avid: i think the positives there will be major structural changes. deutsche bank was dragged kicking and screaming to restructuring. sonali: it has been a year since he was in charged and -- since he has been in charge and people have wanted to see decisive action. alix: i wonder how many jobs will be in germany. david: good call. considering eliminating it across the board. a

not only did they violate that pledge but they ran to warren buffett.investor carl icahn speaking with erik schatzker. we are joined by our deals reporter who broke the story. to letter from icahn investors, the latest attack on occidental, pretty brutal wording, taking the ceo to the cleaners. >> it is typical icahn. colorful, and at the same point, pretty eviscerating. shery: what was the problem that he saw the issue with this financing? >> primarily, expensive. warren buffett will get 8% on his investment, plus some more roots. -- warrants. that is a bit different from what the debt is paying right now. icahn thinks it was done in a panic, as he said. not the way that you should be leading a company or doing corporate governance. jon: scott, you cover a lot of these situations. in this case, icahn has a stake worth $1.5 billion. it seems like a beef that leading a company or doing corporate governance. shareholders did not have their say. how often do we see these kinds of situations? you have such a transformative deal, you would see it go before a

since 2006, buffett has given away 45% of its holdings.ir jim walton donated stock last week. they have regularly donated to the walton family foundation. joe: opec will extend production cuts in 2020 as the world's leading oil exporters fret about a weakening demand growth for output. thank you for joining us. any surprises to you from what we have heard from opec? the g20rt of knew from meeting that there would be an extension. today's meeting was whether it would be six or nine months. they surprised a little bit to the upside. they went into closed-door session and in less than 30 minutes, they had word out that it would be less than nine months, then they sat in that closed-door session for hours and hours. according to the reporting we have, there were arguments over how exactly they will formalize the arrangement that brings in folks like russia and others to take part in these production cuts. apparently there was a lot of back-and-forth with the iranian over the role this new charter would play. caroline: the irradiance creek crit

. >> warren buffett, can you describe your relationship with him? is a little bit older with you, and then you develop this close reputation with him. then he gave you a large part of his fortune. were you just brought it -- surprised that he did that? >> he is an amazing person. hims lucky enough to meet in 1991. i do not think i wanted to meet him. i did not think of buying and selling the stocks as a value- added. i am were involved in the innovation. when i met warren, the fact that he had this model of how the world work. he just asked me, why can't i input you out of business. it was a very smart question. because of the time was 10,000 times our size. yet, we would go on the software to surpass ibm. it was the dominant computer company. >> when you develop the software, they should have it from you. >> that would have helped them. they will not have really change things. what has happened in computing work are really thinking about the microprocessor. very different ways they did with the mainframe. it is kind of innovative. looking at comput

deal the money that was brought in, that warren buffett got, the 8% on a $10 billion investment that them to raise the cash portion enough so that they could actually avoid a shareholder vote, which might have been more difficult for them in terms of completing the anadarko deal. if hollub negotiated a deal, despite her limited experience in m&a and the board says mr. icahn was misguided enough to rubber stamp it, one might say it was the fiduciary duty to accept the deal. it was a deal that only mr. buffett could get given his endorsement being so important, of such importance and it was out yesterday >> let me ask you, they bring in -- are they bringing in high level -- does icahn have high level oil executives >> no. he doesn't. >> no? >> some experience, i guess, and another guy who sat on the board of herbal life. >> herbal life, what is the synergy with permian >> none that i'm aware of. >> you're telling me that he's not necessarily an oil person. >> are you questioning carl icahn's ability to put new members of a board -- >> did he say -- >> so the board can be held accountab

investment guru warren buffett says he's donated $3.6 billion worth of stock in his company berkshirea gates foundation and four other charities. the 88—year—old billionaire intends to donate all his berkshire shares to charity through annual gifts. the ‘giving pledge' in which billionaires promise to give at least half their wealth to philanthropic causes — was launched in 2010. china's huawei says it is awaiting guidance from the us department of commerce on whether it can resume using google's android mobile operating system on upcoming smartphones. over the weekend, us president donald trump softened his stance on the chinese tech giant, and told g20 summit attendees that the united states will allow expanded sales of us technology supplies to huawei. ever since his first independence day speech in 2014, prime minister narendra modi has championed his "digital india" vision — including a flagship policy to get every village in the country online. but that project has fallen well behind schedule, and costs are mounting up. the hundreds of millions of indians who are yet to have acc

that there is at least one investor willing to do similar financing without the warrants that warren buffett will get in the financing arrangement. pretty decent -- he's picking up on. he alleges that the company itself could have been potentially taken over. do we have any idea who that takeover candidate could have been, the acquirer? scott: we don't know for certain, but obviously it would have to be someone of sca le. someone that comes to mind is exxon. the size itself, someone interested with permian. vonnie: what are shareholders saying? do they think, some of the major ones, that icahn has some points here? the stock is down about 1/3 of 1%. scott: some think this transaction should have gone to a shareholder vote. obviously it is not going to. it is quite a large, substantial transaction for the company. vonnie: we are going to have to wait and see what happens next. are we at an impasse here? scott: this could drag out for a while, i think. vonnie: our thanks to you, bloomberg deals reporter scott deveau. guy: the fed is going quiet between now and months end. president trump keepi

fed's next move and have stocks already priced in a friendly fed plus a big upgrade on the big banks, buffett making a play too. is it time to get bullish on the financials the halftime report starts right now. >>> it is good to have you with us on this friday. not as hot a friday as it was last weekend our investment committee today, joe, stephanie, zarod, josh brown and ron. >> i haven't this many friends around me in a long, long time. >> since high school that's good. >> yeah. the s&p 500 record highs nasdaq and nasdaq 100 hitting new all-time highs as well with the fang trade front and center. let's start with amazon versus alphabet who wants to talk alphabet >> sure. >> go. >> i mean, i own it. it was a very good quarter i think that google sites growing 21%, constant currency up from 19% from last quarter shows you last quarter was the aberration you didn't see this massive deceleration that was lasting. that's good to see a resell ration i think people are excited the disclosure on the call was better still a lot of question marks riding that but at least it was a little bit better. >

and this fellow won that lunch with billionaire warren buffett and then canceled. justin sun posted this video to the internet that he was ill and rescheduled the lunch that he won by being the highest bidder and behind there you can see justin appears to be in san francisco. this is where the story stopped. no big deal, the guy wasn't feeling well, too mad. face detn back to china linked to his business in crypto currency. a different outlet says he's in china that he never got to leave. this is all very mysterious. the causes behind it, even where he is, i, obviously, reached out to mr. sun starting out with, where are you? it looks like he's in san francisco, according to the video he posted. >> because you can see the skyline in the background. >> yeah. >> okay. all right. we'll continue to follow that. >>> in the meantime, a 3-year-old boy is in the hospital he got on to the baggage conveyer belt at the atlanta airport. this is security video footage of that incident. actually happened on monday. he actually made it all the way into the bag room before a tsa a

as you say, there is this cold personality around value, you think of buffett and others who have cherisheder decades. growth, we don't see that. i wonder why the two are treated so differently? on a return to, growth has outperformed. james: that is absolutely right. therefore, what we ought to be trying to think very deeply about is why that is so. as you imply, much too long a , the actions of the federal reserve or whatever. i think it has to do with increasing returns to scale, which since microsoft went public, should have started to think about that. those areas of increasing return to scale, intellectual capital are getting more dominant in the world. i'm not sure where it is going. the question you are asking are important. ed: on the question of personalities, we have seen , thetly in the u.k. follow-up continues, but what damage has that event done to the debate of active and passive management? it seems to be a big problem. liquidity now in the front. i can understand it is an issue, and i respect what neil woodford was trying to do, even though i think that the limitations that

on it and so could afford to bid to have lunch with this man the american business magnate warren buffettace, mr sun pulled out. he eventually posted on his weibo account this open letter to his followers apologising for "excessive self promotion" and claimed that his actions had "triggered concerns from regulatory authorities." kerry allen follows the chinese media for bbc monitoring. shejoins us live she joins us live to talk us through this, what's going on and found suspicious? guys, we have been following this for two days now and it's been very unusual because two days before he was said to hide the meal that was to take place today, he excitedly said he got kidney stones, i don't know, i guess he could but it just stones, i don't know, i guess he could but itjust it's all he said he was and expect —— accepting interviews and then a day later he's posting on twitter that he was in san francisco, and he seemed relatively ok but he said he was recovering and he posted a video selling bay bridge behind them, and yeahit selling bay bridge behind them, and yeah it was saying that he was

investment guru warren buffett says he's donated $3.6 billion worth of stock in his company berkshireinda gates foundation and four other charities. the 88—year—old billionaire intends to donate all his berkshire shares to charity through annual gifts. hong kong riot police have regained control of the city's legislative council building. it comes as protests have intensified over an extradition bill — amid fears by demonstrators that the asian financial hub is being drawn closer in to china. our asia business correspondent karishma vaswani joins us now from hong kong... the worry is the worsening political crisis will have a knock—on impact on hong kong as the way it is seen asa on hong kong as the way it is seen as a global business hub? yes, certainly that was the fear of the business community in advance of that extradition bill when the government announced they were going to push through with it. you heard from lobby groups amongst big businesses here saying it would risk the credibility of hong kong. when the credibility of hong kong. when the bill was suspended there was a sig

foremost when he said buffett i think i answered resorts meaning young man yes believe that they have a better chance of achieving something if they move abroad. broke the cycle you think he used the savings to buy as top of all when in the meat grinder in france which eventually brought back to him to money his brother said he would help him set up the restaurant but things didn't exactly go to plan to be demanded to do diversity i asked him to pick up the appliances when i went to france for 3 months to work he told me it wasn't a problem but when i left his plans and went back to our village to 11 he sold everything when i heard about it i was devastated with our friends. but even the setback in stop the so called nobody understood why he wanted to return to his homeland. that he remains firmly convinced that miley has much to offer it's just after the millions themselves through popular as the opportunities available and help bring the country. let's say even though his restaurant is becoming more and more popular has to make many sacrifices. are slipping maris torrent on him what

a digital token crumbling after -- warrenreneur buffett fighting kidney stones is the issue.he question, was this the full truth? where their money laundering allegations. he has put out a video from san francisco, showing where he is. >> i really like that, sort of defending himself that he was in san francisco as condo, not in china. caroline: the aim is to convince him. >> more next. we are heading over to london. this is bloomberg. ♪ mark: i'm mark crumpton. fbi director christopher wray told senators today that china is trying to steal economic dominance. the director told the senate judiciary committee that there are more than a thousand investigations underway on intellectual property theft, almost all leading back to china. he noted that no country poses a more severe counterintelligence threat. and former defense industry level list -- industry lobbyist has been approved by the senate to be secretary of defense. mattis quit in december and didn't respond to the president's announcement that he would withdraw troops from syria. guatemala's high court blocked an asylum

two american billionaires are making donations paid warren buffett is donating $3.6 billion of berkshireway stock to five charitable organizations persons 2006, he has given away 35% of his holdings. the recipient was not disclosed, but the waltons have disclosed to the walton family foundation. global news 24 hours a day, on air and tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am kailey leinz. this is bloomberg. fresh record lows on the german ten-year in terms of the yield. we are nearly -36 at the moment. decent chunky selloff within the last hour. let's bring back in erik nielsen. what do you think draghi will the germanon ten-year? erik: he should be worried about pension funds and insurance companies which are basically forced to buy a lot of the stocks, which makes pension funds de facto insolvent, in effect or number two, i would hope he would court early in and say you have to be at this level and you are way behind the rest of europe in the public sector. many other interest pressure's -- many other infrastructures are behi

there was a lot of fanfare because we had warren buffett and j.p.gan going into the managed care space. health insurers come in. a lot of and fair. since then, not much. what has happened? michael: you never know what is happening behind the scenes, but if you look at their total employee population, there is not enough to build around. they also need a lot of systems capabilities. you put in the systems of medical management. i still appreciate what they did. they are what i call constructive disruptive's. disruptive you have dealt with recently -- you had activists in your stock one in you to sell the company to humana, not wanting to do the wellcare deal. i am not going to give you credit for saying them off necessarily, but getting rid of mr. loeb and keith meister -- a lot of ceo's would love to do it. what is the trick? michael -- the trick? michael: we looked at all the alternatives before we did the wellcare deal. we did complete staff work in the british military part of it here would we look at all of that. 1250% increase in price of the s

because of icahn, just down, down, down david, icahn has done a lot of work, i believe, also, in the buffettgh cost of money. >> he objected to the transaction, feels they should immediately try to sell the company itself it certainly is a distraction from management to be fighting with icahn >> direct attack on -- >> how likely it is that he's going to be able to get 20% let alone 50. >> you think he's just being a -- >> outstanding, not like a special meeting. he's been -- >> we need oil to go higher obviously because they did take down a lot of debt this is a rebuke of vicki hobb, the ceo, an uncomfortable situation. uncomfortable. >> and there is vicki. we'll be watching as they get closer to the close and then it is the prove me period she doesn't have a lot of time in some i was. some s some say the window has closed on the deal and the fight she had with chevron and the price they paid was worth having done and the asset sales that are come issiing as well. >> so overpay is a permian too far. >> i think the president is watching he dwetweets, i like john willis first statement much be

something i am sure that warren buffett is very pleased about, first investing in 1988, $1 billion intoompany, now worth $22 billion. he famously said he has about five cooks a day. -- cokes a day. so he is doing his part. bed,: breaking news from bath and beyond. they are eliminating their coo r ole and cutting corporate jobs. 2019just reiterated their guidance at the lower end of the range, and we are now getting the latest news that the company roleiminating their coo and cutting 7% of corporate jobs. you can see the stock is falling by 9/10 of 1%. other big news today has been the u.k. having a new prime minister. boris johnson, the public face of the brexit campaign and the former mayor of london won the race to succeed theresa may as the leader of the conservative party. this after six weeks, johnson defeating jeremy hunt by a landslide. guy johnson joins us from westminster with the story. not really a surprise, but it could spell a new phase in the civil where -- war within the government, especially with the brexit deadline coming. johnson has a set a deadline for october 31, s

. >> warren buffett -- can you describe your relationship with him? he's a little bit older than you and you have developed this close relationship and ultimately he gave you a large part of his fortune. how did that come about and were you surprised he did that? >> yeah. he is 25 years older than i am. he's an absolutely amazing person. i was lucky enough to meet him in 1991. >> reluctantly. >> i didn't think i wanted to meet him because i don't think of the buying and selling of fox as a value-added part of society. >> hyman private equity. [laughter] involved in the innovation part. but when i met him the fact that he had this idea of how the world works -- why can't i put you out of business? it's a very smart business. at the time ibm was 10,000 times our size. we would go on in terms of software innovation and value as whompany to surpass ibm, was the dominant computer company when i was growing up. their mistake was when you developed a software they should have bought it from you as opposed to license it. >> that would have helped them. [laugh

>> warren buffett agrees. u.s. bancorp? liz: 2 point what%? >> 2.6%. liz: 2.6%.ore than a 10-year yield. >> they're pushing 3.1% net interest margin in this environment, when everyone else is doing 2.7. citi is 2.4. they are executing on all levels increasing commercial loan growth. u.s. bank corporation. a u.s. bank. they're regional. if you play the region, these are the guys. liz: will you be doing on wednesday 2:00 p.m. reason when the federal reserve announces? >> reading the statement. liz: because it is what is in the statement that will matter? >> it is how the statement evolves over time also what matters of course is . connell: i'm connell mcshane. this is "after the bell." the dow ending up about 26, 27 points. certainly off session highs. we were up 83. at the highs of the session. we're looking at s&p 500 as we get closer to the finish today. see if we get a record. not to be, down by five points. nasdaq also lower, down by 37

and there's a country song blasting out of jimmy buffett's margaritaville.d it's a song called "hick town" by jason aldean. in the middle of the song, he says the word "butt crack." he sings, ♪ you can see the neighbor's butt crack nailing on his shingles ♪ and my daughter jane's like what are you laughing at? and my wife's like, i'm not laughing. and jane doesn't bite. she says what was that word were you laughing at? i don't know what you were talking about. i wasn't laughing. but then the light changes and jane just starts shouting "butt crack! butt crack! butt crack" in 48 different ways. it was the longest crosswalk ever. now that word has become a major part of her vocabulary, so thanks, vegas, for all the butt cracks! [cheers and applause] we have to get them out of here before they turn out like me. a bunch of our staff got together for a very late night of carousing and apparently, guillermo had a rough night. i'm not sure he's going to be able to make it to the show tonight. >> jimmy, jimmy, jimmy! >> jimmy: oh, hey, look at this! ♪ what's happenin

. >>> and warren buffett is donating $3.6 billion of berkshire hathaway shot to five charities.t will boost the total amount he has given to charities to more than $34 billion. >>> you're up to date. that's the news update this hour morgan, become downtown to you >> sue herrera thank you. >>> up next, what to expect from ipos in the second half of the year will the rush to the public market continue? meantime, we are all over this morning's rally. how to position your portfolio for the second hf tea icbrk.alafr tle music) - my degree from snhu has helped me tremendously. the flexible class schedules allow me to go to work full-time, run my catering business and be a mom and parent. when i reached this accomplishment, it was like, it's here, it's happening, it's now. we, at southern new hampshire university, are the ones who succeed. we are the ones who break through. >>> welcome back the recent uptick in ipos becoming a savior to hedge funds looking for a bounce back this year leslie picker is joins us for that story hey, leslie. >> hey, morgan overall ipos are providing one of

if you have been studying this thing for 50 or in warren buffett's case, 75 years, that sort of patterny not sustainable. for me i can't see from an economist point of view how he puts in a rate cut in july. having said that, you know, obviously i have a lot of money in the stock market, 12 billion under management at sky bridge, if he cuts rates, it is going to be very very good for the stock market, but i'm worried that it may be too early to start that process given the strength of the economy. remember, he only has 250 basis points and you need about 400 basis points of stimulus, charles, to smooth out the sharp edges of a recession. charles: without getting too -- [inaudible] -- for our sunday audience, the fed has a bad habit of being behind the curve. jerome powell is not an economist. he understands main street a little bit more. maybe he hiked rates too much last year. all eyes b will on that -- all eyes will be on that. in the meantime, you brought up china a moment ago. what are your thoughts on the restarting of negotiations, where do we go from here? >> well, listen, i thin

liz: to quote warren buffett, israel is a miracle. >> it is. liz: good to see you.ht an israeli company. he likes israel. thank you so much. >> thank you. liz: the business world stars shining in sun valley. with the closing bell ringing in 18 minutes, the dow holding on to gains of 71 points. barry diller, yes, james murdoch, brian roberts, shari redstone, all arriving at the annual conference. charlie gasparino, well, wait until we show you in case you missed it, what happened yesterday. didn't take long for him to get kicked out. guess what? he's back and he's about to break it live from sun valley. >>> and it's a fresh new episode for my podcast everyone talks to liz. i'm taking you behind the scenes with imax's ceo, rich gelfond. what a humble upbringing. in fact, his first job, 8 years old, shining shoes. how he went from that and mowing lawns to getting the hottest movies on the world's largest screens. you don't want to miss his unbelievably inspiring story. tune in, apple, google podcasts has it. download it. fox news podcasts.com. rate and subscribe. oh, b

. >> even for warren buffett, somewhat thin. >> exactly reversal, a rare one that does it for us here on the "closing bell" "fast money" will get started. >> right now ♪ >>> "fast money" starts right now. live from the nasdaq market site overlooking new york city's time square i'm million traders on the desk are mark tepper, karen finerman and mark grasso we have full team coverage on netflix, less than an hour to go until its call gene munser is getting ready to fire up the red phone in minneapolis. mark is here to break down the after hours moves on the charts. we start with the big move the stocks at after hours session lows, plunging double digits after adding 2.7 million subscribers, lowest amount in three years. are the best days behind this stock? steve grasso >> i don't think so. bespoke, paul hickey was on. he said a great thing about seasonality, the second quarter is a bit tough it gets better going into year-end i think if you are a netflix bull, this really hits you in the gut, but longer term i think you can stay long. >> that's looking at the glass half full, isn't it?

and the cost of doing business with warren buffett.oundup, another round of lawsuits over monsanto weedkiller roundup. we speak to lisa safarian, bayer's head of crop science in north america on new technology for farmers. ♪ alix: i'm alix steel, and welcome to "bloomberg: commodities edge." it'3

is there going to be some type of reveal where, as buffett likes to say, you see who's been swimming naked? >> right, when the tide goes out, everyone gets to see whose pants are down. that's what happens when they come out with their guidance. right now everyone is pretty much making their assumptions, they think this quarter's earnings aren't going to be great. that's why the pe on the s&p for 2020 has already come down to a 17-time multiple. but let's see the reaction to these earnings because right now, with all of the earnings estimates coming down, the stock market still at all-time highs, the s&p still above 3,000. i think today, we saw citigroup, right, they sold off a little bit but also rallied into the actual print so holding steady isn't so bad. the street is looking to see with netflix on wednesday. that's a key momentum name. it just came off the highs of $385. now the question is how will it react if it's inline, will it rally and if it does, maybe there's more momentum. if they sell it on inline or a little below, maybe the market takes a bit more of a breather. liz:

oh, yeah, and warren buffett is supposed to be showing up, maybe, too.e of high profile arrivals just moments away. who better to send into the fray armed with his ego -- i mean, microphone, than charlie gasparino. >> by the way, i haven't been thrown out yet. i just want to make that clear. that's a fox news alert. liz: there's still time. >> there's still time. this is an interesting crowd. you named some of the names. [ inaudible ] liz: are you being kicked out? >> can we walk backwards? stay with us. liz: i'm right here. >> you met the head of security here. you met the head of security here. nice guy. i had my problems with him in the past but we're all made up and everything is good, including the fact that you're going to get a lot of deals coming out of here. two major deals. cbs/viacom, shari redstone is here. bob bakish, joe ianiello and also sprint/t-mobile. that deal is being hammered out in d.c. we hear no decision made yet on that. however, the head of softbank is here. from what i understand, he's coming here. i think you are going to have

. >> he gets -- warren buffett can say my secretary is taxed at a higher rate than steven schwartzman. >> we'd probably all agree if any of this plan were to be signed in law it would be that part rectifying this carried interest loophole, if you will. there's been bipartisan support for this in the 2016 campaign. and all republican candidates supported rectifying this carried interest loophole. if any of this part of the plan is signed into law, it would likely be that >> you don't have to cook the whole pie. just a slice libby, stefnie, john, good discussion on a bill proposal just coming out today. >>> we're getting started on "the exchange. >> coming up -- it turns out content is king. and netflix is learning that the hard way what's next for the company, and was this just a second quarter fluke? >>> toys "r" us is back. well, sort of. >>> and companies are starting to realize that the world is running out of magic countries to manufacture their products. what they are doing to compensate, and how much will it cost them? this is "the exchange" on cnbc how do you gauge the greatnes

for example, we remember when jamie dimon, he and warren buffett, we haven't heard much, about a yearu know what, health care is too expensive, it's clunky, maybe we fix it. form a collaboration. i haven't heard much since then. charles: that's why he's a legend. deirdre: that's why the company is worth a trillion dollars. charles: the market moved during my hour. the c.p. effect came back. liz claman, i know you like that. it always moves even more recently in your hour. can't wait to see what you got going. liz: we'll see if liz claman can come through for you. thank you. as we head into the final hour, i know charles noticed this, we are starting to see some sellers sniffing around. that's putting records in jeopardy, not by too much, but perhaps more importantly, we've got twin gulf crises gaining strength at this hour. number one, tropical storm barry bearing down on the gulf of mexico, now forcing major oil and gas platforms to evacuate very quickly. this as more iranian agitation in the persian gulf could spell volatility for oil markets. we've got up to

look on this network in may, warren buffett said if rates were to stay at this level, stocks are very cheap you know what? rates are lower today. so i think all of this argues, despite the market is a little overbought is that the rates are going to support equity prices here if the fed were not to cut, that would be a bad sign. >> the real issue is not the valuations in equities or, i would think, you guys tell me, it's the valuations in fixed incomes right now. when you have everybody basically being pulled down by a german tenure that's this deeply negative because of what the european central bank may or may not do, doesn't that making pricing of even private debt in this country out of whack? >> it's very odd that here we are at all-time highs in the equity markets and you look at the bond market and you'd think, you know, you'd think that things were terrible here. >> right exactly. >> so it's somewhat confusing. and how many times have we been at market highs when the sentiment is so bad? people are taking money out of stocks there's very little investor enthusiasm out there >>

with the buffer rule and we should have $124 billion so we can make the change, so that in warren buffett's words, that his secretary should not pay more in taxes than he does. i made the case in the debate that you can double pell grant's from $6,000 to $12,000 and have them extend to families that make $100,000 and less. that's a lot of people that will get help that they are not getting now. i am concerned about proposals, where you are giving free college to wealthy kids. i don't think that's how we should be spending taxpayer money. when you've got kids that want to get community college degrees, one-year certifications, that is the fastest-growing job area right now, those kinds of degrees. that's why i am focused on those. right now, some of these proposals, i think the number is 10% of the kids in the public colleges, are from families that make $200,000 or more. i don't get why you would be giving free college to them. hopefully, we can have that debate a little more fleshed out then we were able to do -- than we were able to do in that first debate. a lot of us have bold plans tha

that's what warren buffett said was probably the best idea so you don't distort the market and disincentivizeing, the people that need money get some money back from the government. >> i think that's exactly right. it should be state by state. by the way, there's some really awful aspects of this bill that's going to be passed in the house, such as removing the exemption from teens. it's really important for teenagers to be able to work at whatever level of pay they can earn just to get a foot, just to get experience. if you make it 15 bucks an hour for a kid that really doesn't contribute much, you're not going to hire many teenagers like what's happened in france, you will see youth unemployment go through the roof. >>> let's get to breaking news, because the house just voting to table an impeachment resolution against president trump, effectively killing that measure at least for now. this was the texas democratic congressman al green's resolution, who forced consideration of this measure, and this of course caps off days of tension and division in washington, d.c. >>> coming up, are you a

nasty bear of 2011 we snapped back from those losses even more rapidly by the way this is wie warren buffetts so sanguine when the market is getting crushed. he has an incredibly long time horizon and enough money that he can afford to take any pain to get his hands on gains if you're a hedge fund manager who absolutely needs to be up for the year or for the day for all that matter because investors will flee your business, then you cannot afford -- if a hedge fund manager keeps buying gradually into weakness in a difficult environment you'll lose enough money in a short enough period of time that the fund will likely go under. go read "confessions of a street addict" when things got tough for me the vast majority of you are not running hedge funds. you don't need to make money every day or even every month or year you need a long-term strategy to let you rake in massive multiyear gains over the rest of your lifetime so you have enough money to retire comfortably, send your kids to college and that means you don't need to be so concerned with short-term performance. again this is not an excu

pete's right the opportunity was when based on fundamentals it was cheap >> warren buffett -- >> i'mxplaining to you right now is, let's acknowledge the elephant in the room you've got driving the tape on a daily basis and they are coming in and they are buying facebook right now because of price that's it. just an explanation. >> great thank you. thanks for that. >> okay. let's do call of the day now square upgraded and stocks up more than 6% josh brown >> i like this i don't know why i don't own it yet. i should probably have bought it >> nobody owns square? >> i'm not in it >> what is up with that? >> paypal, everybody, paypal >> i would trade this. yeah, jon's been in it i would trade this i don't know that it's an investment if you already own, as i do, mastercard and you have exposure i feel like i have a lot of payment exposure to twitter. but this is a good stock that got beat up. >> not the most aggressive upgrade you've ever seen either. when you look through this note, not like it's banging the table saying you have to own this. they talk about risk/reward and where the st

plan,ke four-your pension something warren buffett talks about. longer-term investing, you want to be in equities definitively. right now, we are with you. we've come a long way. correction, 6%, 7% about a month ago and there is ground for disappointment. maybe a 25 basis easing for the fed would be disappointing. for the bond market and equities. have sympathy for being cautious right now but that is different from your important pension for being inequities. nejra: i know you keep wanting me to look at my pension. that is a discussion for another day. this look at the headline level for equities. would you be looking at value versus growth, bond proxies, what would you be looking at below the headline level of buying or selling index? tough question because basically, growth and quality has outperformed virtually and continues to outperform. we've benefited from that. we've had a tilt. we are looking to buy more value names. we are a customer of the investment management industry but by some direct stocks ourselves. we are tilting more towards v

billionaire investor warren buffett also said remember back in may, he said well you know, i cautiont the job of the markets is to match people who need money and who have money; however i want to say that private equity as an industry is a big part of the infrastructure that we have in this country they made something like $3 trillion worth of investments in the past 10 years , so i think it's hard with a broad brush, right? some view very responsible investing that sort of rising tide lifts all boats and some -- ashley: a not so good example. deirdre, thank you. let's take a look at the big board if we can we've been stuck in the same range ever since we opened a couple hours ago, the dow up 62 points we did get up above 100 points at one point but a quarter of a percent gain for the dow and that's where we stayed this morning. check the beyond meat stock if we can. we know that it's teaming up with blue apron, the meal kit guys, and we've got an early day that's up 2% today and it's up another $4 at 174.95 and we've got an early beyond meat investor with us now, come in, greg smit

. >> i think you and i are on the right page i have to ask you one question, the donations that buffettoes that get, like, two minutes? you -- >> no, it is a -- it is a great point. i think $3.5 billion yesterday that went in to all of these five charitable donations, charities he gives the money away to, it happens in july every year, if you add it up, he's given away over $35 billion since he started doing this. back in 2006 i think was first time so they are big numbers. it is good to see it go out again. and you're right to point it out. >> yeah. it is right to also -- i looked at all the charities, everything great. and i've always -- just -- it is just worth celebrating and i think you know that and you've been the leader in this, it is worth celebrating, a positive great story and it do not be overlooked by trade or whatever is the flavor of the day. it really is fantastic. >> and in fact if you look at what a lot of philanthropists have been giving away, the giving pledge itself, buffett started along with bill and ma linda gates, just that movement to get out there and talk abo

. >> even for warren buffett, somewhat thin. >> exactly reversal, a rare one that does it for us hereing bell" "fast money" will get started. >> right now ♪ >>> "fast money" starts right now. live from the nasdaq market site overlooking new york city's time square i'm million traders on the desk are mark tepper, karen finerman and mark grasso we have full team coverage on netflix, less than an hour to go until its call gene munser is getting ready to fire up the red phone in minneapolis. mark is here to break down the after hours moves on the charts. we start with the big move the stocks at after hours session lows, plunging double digits after adding 2.7 million subscribers, lowest amount in three years. are the best

. >> remember the days when warren bluff at the ti buffett wasted the stock at 170? i think it has a chance to see that level again >> 221 now actually meets a lot of new targets. >> and things that you need to say. best days are behind it. tim cook, no steve jobs. the mac. the wearables, nobody cares. every one of those statements is false. >> a lot of apple clichÉs. >> and a lot of apple haters who are -- they have got the airpods on -- i'm being told to move on, i will not they are using every revenue stream they are backing up the cloud, baings e in buying the apple care, the credit card and they hate apple. they hate apple. >> that is true. they normally say buy what you know, but apple up 6% is a big story. let's get to bob pisani. >> happy wednesday mixed open as we await the federal reserve decision.s movid semiconductors down and tech sector is up, that doesn't happen very often. of course apple is pushing the tech sector up 6% overall and of course disappointments with amd down 6%. this is a fairly rare development. consumer staples is a bit on the weak sid