and we are spending buffett's billions. oracle observer bill snead will be here to tell us what he thinks the world's fourth richest man might be spending his $128 billion war chest on, coming up. >>> plus, big show that's been big hot on netflix. "tiger king," the breakout hit of the coronavirus lockdown, but is joe exotic and his pride of big cats enough for netflix to retain the streaming crown? netflix cofounder mark randolph joins us coming up in a fox business exclusive. we are less than an hour to the closing bell. we will get liz claman back in just a moment. first, let's start "the claman countdown." cheryl: as we wait for liz to come back online, it has been an absolutely wild session for the cruise lines. they are on pace for their worst month ever. two out of the big three were halted early in the session but they have caught some air in the final hour of trading. this industry has been very hard hit, as you know. first carnival cruises, they had disclosed a new $1.25 billion share offering to help raise equity

you have my blessing buffett was early last time. he is probably early this time there is nothing wrong with keeping more cash on the sidelines. right now cash is king, until of course it will become pawn again. i recognize the fragility of this moment. for those who pick stocks, this is a time to own recommending gold, some good staples, mainly food, definitely drugs, some utilities, like american electric power which is on the show tonight. but i also think it's awfully hard to time a bottom here why? i don't think we're all that close if things keep getting bad. i also don't want to wait too long to put that cash to work. i never like conflating real life and money but from the financial perspective, the system is a lot stronger than it was in 2008 so if you sell everything, i'm not sure you'll be nimble enough to get back in at a lower level that will make you feel good for a couple of days if you're worried about yourself, your physical self you shouldn't have to worry about your money too certainly ifstoc s makes you more stres

if people like warren buffett have decided to snub canada, with the brilliance is on when everythingwas going fine, what will happen now. at the entire planet is facing a major crisis. what this liberal government, can tell us what they will do to get us out of this crisis. they have put us in and it's out of control spending. and physical health remains very strong today. our debt ratio is in fact the strongest of any economy. and allows to experience economic growth. our debt is striking and we are one of only 200 and has the perfectly credit rating from the all of the different credit agencies. we made investments to spur economic growth and we been 2 million jobs for the economy. to make sure that we have room to respond to the challenges that are now emerging as a result of this global happening. we've learned that it is cutting spend by 32 percent wanting to decide whether or not they will invest further in our country. another devastating blow to alberta. it is canceled investments from text, canceled investment for warren buffett and is clear that canada's energy sector is in

i spoke to warren buffett last night. he clarified while his plan is to wait until around april 1st to make a definitive announcement as to whether the meeting will happen, he did tell me who will be there. he told me quote, the meeting has to be held according to rules and that no matter what, at least three people will be there. he said i'll be there, along with someone to make the motions and someone to second the motions. but we don't know how this will play out because ostensibly the virus situation moves by the hour. it is looking increasingly likely, i would say, that the meeting will take place in its usual form. last year, yeah, the 40,000 attendees broke the record. they descended on omaha. he told me last night he would be very cognizant of what the public authorities say or deem. he said quote, we could be ordered by departments of health from douglas county and the state of nebraska to cancel or markedly scale back. that said, you guys know this. people make plans a year in advance to come to this meeting. ho

warren buffett basis said he is waiting on this. ehe does not see it happening like the forms in the past. they want to crush own him and charlie monger around bill gates and directors of the boards that come. he doesn't want to endanger anybody's lives, many of whom are elderly or employees or more than 70 plus businesses that warren has under the berkshire umbrella. everything from sease, to fruit of the loom. kraft heinz is a huge area they take over. people rush to buy ketchup with warren's face on it and charlie monger, the vice-chair. stay tuned for that. people should keep an eye on website of berkshire hathaway. they will update it when they have a answer. i'm standing talking to a couple traders down here. once again important to note it is very orlando early here. as far as they know this floor remains open, fingers crossed. a week from tomorrow, we havep triple-witching, expiration of stork futures, index futures, options. there tends to be a lot of volatility but i was told by a trader who would be in the know they can d

buffett in some fashion?> i think it's ill-advised that he hasn't come out the last thing he talked about was similar to his october 2008 piece, where he said, listen, i'm not a buyer necessarily now, but i just want to buy america then he was early -- he was ultimately able to claim he bought throughout. if it's a great time, this is the time to step forward, whether it's the incredible piece of paper he got from oxi for 8% or all the airlines criticizing an icon is not a great strategy, but i think it would be reassuring to the public which says i liked it much higher, i like it now it's not his job to do that, he doesn't have to do that. i wish he would from the point of view he's the great moral authority he could strike a balance between both sides everybody would have to bend to it it's a great time for him to come out i'm sure he's looking and there's two people i want to hear from. one we can hear from, warren buffett. the other is jamie dimon i pressed and pressed -- >> you beat me to it, jim. i was

more dislocation especially with the cantillon effect so you'll have toilet paper barons like warren buffett will be sitting on a warehouse with $50000.00 rolls of toilet paper and he'll be out there laughing like i tried a wife now america and america be like he's a genius for hoarding all the toilet paper he took billionaire toilet paper and then the big billionaire is going to be like we're not going to lend you money to bail out your banks member i predicted this a few years ago when they ultimately need the bailout money they're going to come to the bitcoin billionaires and the big point billionaire just say no as libertarians quote unquote we believe you need to learn how to manage yourself better so we're not going to bail out j.p. morgan or wells fargo or h.s.b.c. or barclays you're going. i have to learn how to be adults no go away now in terms of supply shocks you and i went through one and that was in the seventy's as the last famous supply shock big negative supply shocks are rare eric nielsen group chief economist at unicredit bank said with the oil shocks of the early and late

so warren buffett, a huge fan of buying back stock.lines, unable to buy back stock after this that's something that's going to be very interesting to see how that plays out but i think the divide is going to be incredibly important looking forward. who can allocate capital to shareholders and who cannot? and that's going to direct your investment decisions you've got to think even bigger. it's like airlines, it's other areas of hospitality, big hotel stocks >> well, what i mentioned airlines, it's what we know that warren buffett is significantly invested in. >> for sure. your point is well taken i'm just saying, it's even a bigger issue than that meghan shue, your reaction to what kayla reported? >> i think that the buyback news is important and this is something something that we were expecting buybacks to be reduced this year and lower than historic -- than they storkly have been anyway because you tend to see a little bit more caution around that ahead of an election year. so this is definitely going to push that. any boost from bu

program, and i would look at this in the same fashion that warren buffett would or steve schwartzmanaid great, let's find out ways to make money for the taxpayers. >> i'll leave you with this. do you believe that the best stimulus if you want to call it that is going to be what secretary mnuchin floated, sending direct checks to families that have been impacted >> i think it's better than a payroll tax cut. >> you don't have a payroll, you don't have a payroll tax. >> exactly, right? but i think it's -- it's probably not the best approach and i think it would be more powerful to increase unemployment benefits and extend them for people that are unemployed because for people who are not unemployed to be getting an extra check in the mail every month seems to be an inefficient mechanism to use to allocate taxpayer money. i think the money should be directed to the people that need it by the way, my biggest complaint of the financial crisis and how it was handled is it didn't address the issues of the common person and main street and we need to make sure this time that we're addressing

you got a tale of two cities and on the other hand, some of the crazy derivatives, i think it was buffettnce said the derivatives are weapons of mass destruction and what i explained to you and you can find them, the risk/rewardare crazy in those so you still have a lot of problems in this country and i think you can't get out of it by printing and printing money. it is just -- you print and print and print that money and that money is in many cases run by the wrong people and you got too much debt on many companies now you say caesars. i don't think that's true of caesars with the great synergies and great management you can't answer it with one answer. >> i understand. carl, i appreciate you coming back on. be well. we'll talk to you soon. >> good talking to you, scott. >> let's go to david farber. >> so many companies are changing the way the workers work at&t 245,000 employees around the globe and little more than an hour ago, the at&t chairman and ceo said in an internal memo if they can they should get their job done from home now, that obviously does not necessarily apply to some o

you heard steve weiss speculating about warren buffett and boeing i was looking at caterpillar's market cap we are covering this big-time liquidity. there's a grab for cash to get through companies and the big question is whether financial markets have enough of it. you've heard this major move by the fed. bazooka was an understatement. we want to get some immediate reaction here. bob pisani is down at the new york stock exchange. >> and of course, the question, we're just looking at each other down here on the floor, is this the opening salvo, as we said before take a look at the s&p 500 that's what the traders watch. 2950 is where we are, 1254 we are 126, so we have moved 68 points in the s&p 500. that's rather remarkable, that's more than 700 points in the dow jones industrial average just in the last seven or eight minutes. i don't nope if you can put up some stocks that have been down that suddenly went positive. johnson & johnson, for example, was down in the mid-single digits just went ositive. united technology was down mid-single digits. it went positive just a moments ago, i s

he joins us now. >> good morning. >> swimming naked, a reference to warren buffett reference. markets are picking up some of the risk out there that some companies might not make it. maybe we have some risks embedded in the system we weren't focussed on. what are you seeing in terms of where the risks now lie? what's being exposed >> well, one of the things i pointed out in my column is there are d i would say there are three sort of critical areas within the financial system. one is the so-called leveraged lending market which has really mushroomed in the last ten years. i think estimates are it's somewhere north of $1 trillion much of the lending is by nonbanks it's lending to companies that are already highly leveraged which is why it's called leveraged lending. the loans in many cases were packaged, carved up and sold in pieces to a wide array of investors much like the mortgage-backed securities that is an area where i think there are going to be significant tremors but i would point out it's only 1.2 or 3 trillion we're not talking about a 4 trillion money market. to me,

you have signed the giving pledge with no gates and warren buffett and so forth.hy did you do that? what did -- why did you give david: so one of the causes you have is something i would like to talk about. you have been very open about it, unlike many people who have this problem. it is called dyslexia. charles: right. david: and for those who are not familiar with it, it basically means it is difficult for you to read in the conventional way that the average person can read. charles: right. david: but, the amazing part, in your book, as you describe it, is that you had it for much of your life, and you did not know you actually had it. charles: right. david: can you explain it? charles: our youngest son was about seven or eight. we had him diagnosed. it turns out he had all the similar, identical issues that i had as a young student, all the way through school, and was now just only seven, and he had it through the rest of his career. and it was a really a-ha moment for me to understand that yes, we -- he got it, obviously, through dna, and as a consequence, i g

from either the government or warren buffett. warren strike -- boeing seems like the perfect instance where warren can write the check. it, i don'tll do think the treasury secretary should. if buffett won't and there's nobody else, that is where the -- they should go. my point is in a defined shutdown with -- what is interesting here is the virus is not a mosquito that can continue to exist if the country goes into a stay in place mode. mosquitoes -- i'm not an expert but the point is is it is a virus. it can live for a brief period of time, a matter of days without a host. but if you deprive it of its host and you do that by, in or stay inking down place, stay-at-home strategy, you can kill off a large percentage of the virus in the country. then you test everyone. and you know who has the disease, who doesn't. people who have them, you quarantine them, make sure they have proper medical care. people who are not vulnerable can go back to work because -- the good news here is capitalism works. . every pharma company, every drug c

. >> and that is warren buffett voicing a public service announcement on coronavirus precautions. his key message, invest in yourself he teamed up with genius brands, the children's media company that produces the series warren buffett's secret millionaire club >> sue, that's not the kind of announcement people are looking for from him they're waiting for a big accusation, we've had a 40% selloff. >> you may get that, but he said that he really felt that he wanted to do his part in helping people get through this ordeal and i'm sure he'll have some investment advice for us but right now, invest in yourself >> i'm telling you, if he wants to help people through this ordeal, watching him come in with a sweeping acquisition would go a long way. but it's his money, his decision not mine sue, appreciate it let's check in on the dow jones industrial average up 470 points today, looking for two in a row which we haven't seen in almost two months a 2.24% gain we're back in a minute they're the backbone of our economy. and in these challenging times, they're adapting to support their commu

buffett, who we still have not heard from. silence is deafening >> dairy queen mike worth was on yesterday from chevron. talk about a guy who laughed all the way to the oil well. he passed on that anadarko purchase probably the greatest thing he's ever done. >> they had it they had the deal and he would not go there in terms of the price that occidental was willing to pay the biggest police take w efgest allowing their own shareholders to vote. the buffett money was specific for allowing them to mitigate the possibility of having a shareholder vote if the shareholders have been able to speak, they wouldn't have done the deal >> was anything done right there? this is the snapple buy. can you come up with a worse one? you had one with at&t, didn't you? dish >> there's a bunch there's a bunch. listen, monsanto, that didn't look good. >> this is a cake taker. this is a cake taker >> nextel sprint is up there >> he left that one line, it's better to be lucky than good >> amen. with that, let's get to bob pisani so we can check in o

> come back to 2008 because as you may recall, your viewers may recall, in october of 2008 warren buffett wrote an op-ed saying buy american stocks, saying he was buying stocks and urging people to do the same thing. and, of course, people didn't do that but selling stocks and the reason that warren is the richest guy in history making the money in the stock market is that typically, one of the remarkable things to me is when he says to buy, people don't do that they do the exact opposite and why he has all the money and they don't i was in a meeting with him a few years later. somebody said how did you know that was the right time to buy stocks in the fall of 2008 he said, i don't know time i know price he said, i know when stocks are cheap and when they're bargains and not. he said so i buy them when they're bargains and i would say the same thing here. i think stocks are cheap, bargains can they go lower? absolutely we are down 30 some percent. we were down peak to trough 50% in 2008 and '09. you can't rule anything out. certainly the prices i think and the context of a normal environm

buffett announcing coming some of the ceos and not the corporations buying back stock, but some of these ceos putting their money where their mouth is i think that would give people a lot of -- >> i think it would give them some encouragement. >> yeah. some encouragement, tim. would you agree with that? step up, get out there and buy your own equity? >> certainly, it's a place where equities are looking attractive relative to just multiples that they've traded at for obvious reasons. the things that we need to see though are the liquidation that's going on in the market is a function of where investors came into this with bigger balance sheets and i mean the professionals and the retail investors and the gross in the market was massive from the fed on down there's encouragement to take liquidity and what we're seeing now is markets need to simplify investors need to simplify and more importantly, the gross is coming down and some of this is forced liquidation every single asset class was down massively today and that tells you and the dollar's moved 7.5% in seven days and at one point it

you have signed the giving pledge with no gates and warren buffett and so forth.id you do that? why did you give away half your net worth? what did your children have to say about that? stephen: they don't have anything to complain about. let's start there. [laughter] stephen: yes i am giving away most of my net worth. i have taken care of my children. i believe in giving back. some people look at their families like a dynasty and i believe i was fortunate and i want to give it back and do something significant. i think i grew up with that idea. i don't think, it's a feeling of not feeling entitled. david: what are your passionate causes in philanthropy? stephen: you want to do things that are impactful. you don't want to just give it away. i have certain interests that i am very involved in. you start with education and making the cities and places where you live better. to me, the biggest area of concern that i have is the environment, the climate. that impacts everybody. any disease or anything you might give to when you talk about survival, there is nothing mo

. >>> billionaire investor warren buffett has a saying when others are greedy be fearful and when others are fearful be greedy. there is a lot of fear in the economy these days. each one of the news from wall street is bleak. in the blink of an eye the stock market and lost nearly 25% of value. in lafayette jerry solomon knows people who lost a lot of money. >>> it is crazy. it is all in the red every morning. it is stressful. i think it is panic. bubble it is panic set st. mary's college finance professor lauren. a panic worsened by the uncertainty of the pandemic. >>> you have to go back to 9/11. of the financial crisis. to find the speed. we haven't seen this level of supply disruption and demand disruption probably ever.>> reporter: stocks were already overpriced and the crisis is causing a correction that would have come anyway. he is convinced the damage already done will create a recession. but for how long is what financial experts are asking themselves. >>> we don't think so.>> reporter: j.p. king advises scott gordon advocates for a diverse portfolio to protect clients in momen

growth $150 billion of nation building projects of the revenues have left canada including warren buffettulling $4 billion out of the quÉbec energy project instead of blaming others for a virus while the prime minister admit to the canadians is weak leadership and poor decisions have put canada on a perilous fiscal cliff? >> there is no basis in reality that any notion is there 100 percent 180 degrees. with 1 million canadians living in poverty with 300,000 canadian children and those that are working today to grow the economy and create jobs to make sure. [applause] >> >>translator: mr. speaker the day before yesterday to suspect arriving by new york to train they called the first responders to the municipality and told them it was a potential coronavirus case and there was no protocol to be followed there is still no response no adequate physical protection is there a protocol and if so how are the borders aware of it? >>. >> and those border measures in place at all land and rail with ports of entry a requirement for border officers to ask questions regarding the virus of that is share

stock has a balance sheet is been beaten up, it is like the market but it's with warren buffett it'snd of self he loves. stock will probably degrade from here. jack: and of course when things are going bad, he's got a lot of money on a think you'll do good things of that. thanks very much ben mark carlton jack thanks for listening different follows on twitter at barron's online. that's all for us, see you next week on barron's roundtable. site host. just like howard stern has. guess i will be auditioning for that one. have great weekend. maria: happy weekend that we can to the program that analyzes the weekend helps position you for the week ahead. and what a week it was. i am maria bartiromo thank you for joining us. coming up in a few moments the carnage on wall street and economic backdrop it i will speak to the president and ceo of the dallas federal reserve robert is our special guest this week on the important week to discuss. markets are in correction on global fears of the coronavirus. this week all the major industries suffered the largest single day point decline ever as wa

even buffett is putting it in perspective. he tells yahoo! finance today it's not even close. it was much more scary by far than anything that happened on monday with the big pull back. i get it >> i didn't see that. >> it's worth putting it in perspective. you mentioned a bunch of businesses that will be hurt most likely by this. the market focused on what fortunate and administration are going to do about that, whatever stimulus they can come out with. eamon javers is live at the white house for us we got trickle out of some ideas. where do we stand now? >> reporter: no new information from the white house today we didn't get that press conference yesterday that the president had promised unveiling his economic plan. we got larry kudlow in the briefing room suggesting that the centerpiece of the plan but not all the details and the centerpiece is this payroll tax cut. they want to go to 0% on employer and employee side on the payroll tax through the end of the year. if not permanently last night in the briefing room i asked kudlow where are you going replace that revenue tha

stock has a balance sheet is been beaten up, it is like the market but it's with warren buffett it'sf he loves. stock will probably degrade from here. jack: and of course when things are going bad, he's got a lot of money on a think you'll do good things of that. thanks very much ben mark carlton jack thanks for listening different follows on twitter at barron's online. that's all for us, see you next week on barron's roundtable. >> fast cars, new cars, old car cars. cars more famous than the celebrities that come to see them. this is, right. what is the the concours don'telegance. the comfort level may be a little dif

you have signed a giving pledge with warren buffett and bill gates. why did you do that?ou agree to give away half of your net worth? stephen: i don't think i have anything to complain about, let's start there. but yes, i am giving away most of my net worth, i have taken care of my children. and i just believe in giving back. you know some people look at it, dynastic.mily is i believe i was very fortunate that i want to give it back in doing something that is significant. i think i kind of grew up with that idea. i don't think, you know, a feeling of not feeling entitled. david: what are your passionate causes and philanthropy? stephen: you want to do things that are impactful. you just don't want to give it away. i have certain interests that really i'm very involved in. you know, one -- first of all you start with education and , making the cities and places where you live better. but today, i mean to me the , biggest area of concern that i have is the environment, climate. i think that, you know, that impacts everybody. whenisease you might give two, you talk about sur

warren buffett to the coronavirus rescue? maybe. laura ingall has more on that. to you from outside the nurses' station on long island, this is nassau county, of course. we are staged right outside the nurses' station. you can see right behind me, this is a staging area where people can pull in to the emergency department and get screened if they have covid-1 covid-19-like symptoms. they can go there so the emergency department isn't overwhelmed with contagious patients. that's where they will be transferred to the forward triage unit, the big white tent behind that nurses' station so that people like with a broken arm or cardiac situation can go into the e.r. safely. the amount of covid patients being treated here went from 100 to 220 in the last two days. hospital workers say they are being stretched to the limit here in terms of ventilators, respiratory nurses who know how to work vents and the all-important personal protective equipment we have all been talking about known as ppes. some good news as you mentioned at the top, we have learned through a source f

islamic state militants struck the national sports stadium as well as numerous restaurants and the buffett clan music club 130 people were killed a reporter lisa lewis met one survivor in paris. returning to the battle plan is an act of for assistance for cutting that hole it was inside that she survived one of france's worst terror attacks the massacre at the batter clan was part of a series of assaults across paris in which 131 people died and should. have . been for you to me i still get a knot in my stomach when i come here but i didn't want to develop a phobia so quite soon after wards i started coming back to the battle plan it's like a pilgrimage i'm remembering the dead and reminding myself of how lucky i am. catherine survived the assault unharmed or so it seemed shortly afterwards she developed what many other victims of terror attacks suffer post-traumatic stress disorder p.t.s.d. . head 1st i was in denial about the symptoms but then i developed a cold hypervigilance noises like doors slamming shut things hitting the ground or balloons bursting really scared me i had auditory h

the markets are already disconnected from reality and truth is in the very near term as buffett famously says the market is a voting machine not a weighing machine you're playing on people's emotions and people's narrative and when people are panicked and i think people are panicked anything can happen in the near term the international energy agency suggests that the fully loaded cost to produce a barrel of oil worldwide that's the united states in the nation china russia saudi is about $60.00 a barrel that means lifting costs discovery cost capital cost also prior year write downs so right now in a very gross since the industry is making the stuff for $50.00 or 60 dollars a barrel selling it for $35.00 a barrel losing 15 or $20000000.95 times a day that's gets rather boring and it's clearly unsustainable but in the near term it's not about or. magick it's about narrative and panic. holding thank you so much . a pleasure thank you. and the world health organization announced monday that the threat of course the corona virus becoming a pandemic is real as the number of cases now exceeds

buffett. >> anyone read the interesting bees biogen, they're going to hotels, high-fiving -- >> yeah. says let's not have that convention let's not have coachella or south by southwest maybe not have the apple developers conference. >> none of them are happening. they're canceled >> this does not make me feel like i can't wait to go to a good restaurant. i carry this around. >> i'm still going out to eat. >> you're still going out to eat? >> yes >> you're like a risk taker. >> i'm changing my behavior in other ways >> last night ta restaurateur said his business was down by 70%. are you seeing that? >> no. and we're not a tourist place. we also are not charging a huge amount for the wine. >> the margins on alcohol are high you told me the alcohol margins at the bar >> look, there's still a percentage of people when times are bad, they want to drink. that hasn't changed. canopy growth i'm sure wished they had a gummy supply. are you stocked up >> no. >> you're not? >> no. i can't -- you know -- it's still difficult. >> so instead of hump gummies, you have hemp rope >> no, i got the goo

the world has ever known but now we're with the markets crashing the way they are it's like warren buffett said when the tide goes out you see he's down wearing a bathing suit well now what the market's crashing and the fraud and malfeasance is becoming as prominent as mount rushmore so you've got jamie dimon is like on the mount rushmore of fraud along with the head of you should do a mt rushmore from. commissioning not prior to that out of the painting them out rushmore of from. another thing that that i'm that i'm seeing is well i mean obviously the homeless problem in l.a. here isn't getting any better and you know they just had the martin case settle what happened well that was where this guy was suing boise saying it's unconstitutional to say i can't sleep outside if you don't have sufficient facilities so. it went all the way to where they kicked it up to the supreme court because they were saying well yeah it's unconstitutional you can't tell someone they can't sleep you know on the sidewalk and the supreme court said they're not going to look at it so now every you can sleep on th

in america have very little cash on hand because either you have to go large like apple and warren buffett or you've got to have like just load up with debt because if you have cash they're going to take it from you that's the thing about the debt but when you use a word like financialization what does that mean it means that anything that produces an income like let's say in the present business or in the hospital business or you're in some utility business anything that has a predictable income stream you can go to wall street and then i'll pay you 102030 times the value of that asset that is generating that income in the form of debt and then you take that debt and you do a few things with it that are all equally bad one is you buy back your own stock that's fraudulent use be illegal and it's stock market manipulation 2 is to make terrible investments because you're yes actually getting free money so you make mal investments and you invest in boondoggles and you invest in things that don't work if as the government you invest in wars that don't go anywhere but make a lot of people rich