kratz i have a quote here from warren buffett who is the sort of person who is totally celebrated by paul krugman totally celebrated by rachel maddow and b.c. and certainly see n.b.c. where he appears and they allowed him as the greatest thinker on earth buffett says economy needs another injection so we're going to interpret for you this cup to pratt speak buffett says his stock portfolio needs another injection of free money he lives on free money he lives on this fiat's system that's what he tells you but in fact like the bets he's making like he's abandoned since march he has abandoned the u.s. dollar before the 50th birthday in 2021 he has abandoned the u.s. he's dumped all his airlines he went long gold you know gold miner he went long japan so that's tell you everything you need to know he goes on to you know the likes of rachel maddow show and tells everybody keep buying american keep buying the airlines go fly and yet he himself with this own money what he's doing is dumping and then you know with his power and his wealth he buys these sort of people influence because they'r

the buffett-recommended stocking stuffer for investor readers, coming up. stay tuned. >>> let's look at the dow futures. if you looked back last night, they plunged after president trump's twitter address, he put out that video last night and he slammed the just-passed government spending and coronavirus stimulus bills but will he actually slap a presidential veto on one or both and reset the clock on a government shutdown on december 28th? blake burman joins us now from the nation's capital. what's going on, blake? what do you know as far as the latest of what could happen? reporter: it's interesting because the president last night, when he released that video did not say the word veto. he said that he wants changes made to the covid relief bill but didn't specifically say he would veto it. we have been trying to ask the white house will the president veto it or not and still are waiting to hear back from them. the president, though, all of a sudden has some unusual folks in his corner on this one, and that is nancy pelosi and democrats, because the presi

warren buffett hopes so. fda looks on track it approve mo dernia's vaccine this week the briefing docks on line the road map begins with an economic war that is warren buff aets call to action as new covid shutdowns near and congress debates new stimulus proposals. >> moderna is next fda staff endorsing emergenc use of its covid vaccine and a critical step toward approval as early as this week >> and apple's production boost reportedly aiming to make 96 million iphones for the first half of 2021 that would be a nearly 30% jump over production from one year ago, carl. >> yeah. we'll talk about what nikkei said today, david. as for moderna, briefing docs are interesting again. some of the charts looking at efficacy, placebo versus the drug itself suggests that you start to see efficacy as in pfizer after the first dose. >> yeah, this is fabulous. i think people have to start recognizing that there is going to be a lot of vaccine there is going to be moderna, j&j, abbott has news now about testing. but there is

that's not true. >> and then dan spoke about his ex-fiancee, rachel buffett.ail was missing her. >> if i was given the opportunity to talk to my fiancee right now, i'd either say can i be with you out there or can you be with me in here? >> here in jail with him? an unusual comment. was there any possibility rachel had something to do with these crimes? you think dan's protecting rachel, or is rachel protecting dan? >> dan would be protecting rachel. rachel's protecting rachel. >> you think she knows more than she's saying? >> oh, definitely. >> just what did rachel know? i asked her. >> this is my name. this is my life. this is my entire future. and i have nothing to hide, and will i'm innocent. >>> coming up -- rachel the actress or rachel the accomplice? >> police and prosecutors don't believe you were honest with them. >> mm-hmm. >> were you honest with them? when "plot twist" continues. some hot cocoa? mom, look! are you okay? head home this holiday with the one you love. visit your local mercedes-benz dealer today for exceptional lease and financing offe

>> in the history of the world nobody has made as much money as an investor for himself as warren buffett now one of the richest people in the world giving away both of his money to the bill and melinda gates foundation when you sit down with warm buffett you don't see him bragging how rich sheet or smart he is with a self-deprecating humor and make sure you feel it's great to meet people people but they are humble that's i like the leaders to show that self-deprecating humor and not taking themselves too seriously. >> you have you not interviewed you would like to? >> queen elizabeth doesn't do interviews. the pope doesn't. have never interviewed andrea mitchell maybe i can interview her. >> that would be a great pleasure. and if i can answer all those questions that come. what is the one of the most unguarded question? >> i was like to ask people what makes them a leader or i will throw in a whimsical question. one time i interviewed the ceo of an automobile company. when i buy a car and the salesman goes back to talk to the sales manager what is he really doing back there? are they rea

it's not true. >> and then dan spoke about his ex-fiancee, rachel buffett.the hardest part of being in jail was missing her. >> if i was given the opportunity to talk to my fiancee right now, i'd either say can i be with you out there or can you be with me in here? >> here in jail with him? an unusual comment. was there any possibility rachel had something to do with these crimes? you think dan's protecting rachel, or is rachel protecting dan? >> dan would be protecting rachel. rachel's protecting rachel. >> you think she knows more than she's saying? >> oh, definitely. >> just what did rachel know? i asked her. >> this is my name. this is my life. this is my entire future. and i have nothing to hide, and i'm innocent. >>> coming up -- rachel the actress or rachel the accomplice? >> police and prosecutors don't believe you were honest with them. >> mm-hmm. >> were you honest with them? [phone rings] "hello, how can i" sore throat pain? try new vicks vapocool drops in honey lemon chill for a fast-acting rush of relief like you've never tasted in... ♪ honey le

buffett noted it did not come from any think we accomplished. it's funny, it didn't matter the 52, tax cuts to the 600 richest people in america. but even if this congress wasn't ending in five days and we have time to figure out how to pay for it, you know how we can't pay for it? cutting foreign aid. president trump has been talking about foreign aid this past week. the money we spend by democrats and republicans over the years, smart investments in our nation's security, it wasn't in the covid relief package, it was the annual budget as it always is, it just happens this year the covid relief package in the annual budget passed together. just for arguments sake, let's say trump got his way and every dollar of foreign aid was cut out of the budget, would that pay for the $2000 check? not even close. president trump apparently has an oversight impression of how much money weei spend on foreign aid because annual form aid doesn't even equal 10 cents of the cost of one times $2000 payment to low income innocents. it's going to join together the $

warren buffett hopes so.cine this week the briefing docks on line the road map begins with an economic war that is warren buff aets call to action as new covid shutdowns near and congress debates new stimulus

. >> coming off one of its worst periods of relative performance against the s&p 500 during buffett's the helm. it generally pays to buy berkshire when that happens. the stock is reasonably priced here and could men put in the post-buff if the era. >> hey, andrew, we've been hearing this about berkshire for a few years now, and the stock doesn't get better. isn't there are a lot of key man risk here? >> there defendant is with buffett 90 user old, but the company is likely to start paying a dividend. and, again with, with berkshire the sum of the parts of berkshire including companies like burlington, northern and geico are considerably worth more now. jack: gold selling a -- goldman, a time to buy. >> it's got a great fran choose, coming off record or earnings and pretty reasonably valued. they've been diverse fewing to areas like questioner banking, and those initiatives show promise. jack: and real quick, your fifth pick is newman mooning. is that kind of an inflation play? >> it's an inflation play. i i mean, gold is up 20%, bitcoin, as jack howe mentioned earlier, is tripled. i'd

that windfall buffett noted, quote, did not come from anything we accomplished at berkshire. so it's funny, deficits just didn't matter to the 52 when it was tax cuts to the 600 richest people in america. but even if this congress wasn't ending in five days and we had time to figure out how to pay for it, you know how we can't pay for it? cutting foreign aid. president trump has been talking a lot about foreign aid in the last week. now, the money we spend on foreign aid all supported by democrats and republicans over the years, all of it smart investments in our nation's security, that actually wasn't in the covid relief package. it was in thage budget as it always is. it just happens the covid relief package and annual budget were passed together. but just for argument sake, let's say trump got his way and every single dollar of foreign aid was cut out of the budget. would that pay for the $2,000 checks? not even close. president trump apparently has an oversized impression of how much money we spend on foreign aid because our annual foreign aid spending doesn't even equal

warren buffett calling them on cnbc to get a deal done. >> it's an economic war. and certain, you nope, when we went into world war ii, a lot of industries were shut down and everything went over to defense production well, we've shut down a lot of people in this particular enthused recession and others are pros sppering and i think te country owes it to the, you know, really millions of small business people. >> let's check in with ylan mui for what's happening down in d.c. >> hi, tyler what's known as the four corners will be meeting in just about two hours. democratic leadership, nancy pelosi and chuck schumer, as well as gop leaders mitch m m mcconnell and kevin mccarthy now, already we know that the treasury secretary, steven mnuchin, spoke over the phone this afternoon for more than app hour with nancy pelosi he'll be joining this 4 p.m. meeting by phone as well and last night mcconnell and mccarthy issued this statement saying it's a time for republicans and democrats in the senate and the house to find consensus on covid relief before the holidays we hope

to a period where carter could see commonality in someone like willie nelson or singer like jimmy buffett aretha franklin where today you're right. even our music, even our popular culture has become polarized. >> well, goodness, maybe after 12 hours when 2020 leaves we'll find a better way in the new year. julian zelazer thanks so much. appreciate having you on on this. >> thanks for having me. >>> tune in to the all new cnn film "jimmy carter, rock 'n' roll president" a title you wouldn't expect, premieres sunday 9:00 p.m. only on cnn. >>> as the clock ticks down here in the u.s., countries around the world are already ringing in the new year. i'm jealous. this is what it looks like in hong kong, celebrations there taking place just a short time ago. they know how to do fireworks there. australia, fireworks light up the sky over sydney harbor. what a site. we'll be right back. ♪ hat's right, not what's easy. so when a hailstorm hit, usaa reached out before he could even inspect the damage. that's how you do it right. usaa insurance is made just the way martin's family needs it with hass

has not taken fish out of the home i thought i don't have you don't know if buffett is george w. bush. and showed america. again finish we take. in no and yes it might have a legacy. but alas the wish to kill who wish the saudi haven't had halle dash into show to knew who was going to leave one of the video. that you saw in the u.k. so. early in the. the . the. over. several 1000000 must be of george there to be sure. to flip to full whether or not he that is as. bad as some race in sydney so cut it but then your money. you. could have done a. muslim. rule of law now that offer. a moderate several last year. this means if that. is. what he did all of you here move through the tears just see just this just to say at this out of the. all right everybody party oh but it. has to feel like if you've. got a good thing it would open up the crowd up pretty good but not on the ride like i did stuff. at all i'm running for office which was the real. good. news it is here that is if you don't mind that it was not a good good good good good teaching. would. probably not have enough money to

we haven't talked to buffett about it but frank slootman will be on "mad money" tonight. he's had a meteoric rise since going public not that long ago you sold ford, which is interesting to me. i thought you were all in on these automakers now, gm and ford >> i do own gm and i want to thank you for -- i want to thank jim for putting me in that because it adds humility to my portfolio. not everything's going up. in terms of ford, i think you're right about the economy. the economy has been slowing i think it recovers. but what's held constant and what keeps improving are used car prices and that's a factor of new car prices, scarcity of inventory and, number two, not seeing as many incentives. i sold my ford, which i've done very, very well on, and instead bought car parts.com, an online company that sells auto parts. they sell it to the do-it-yourself market and to the dealers. i thought there was much more up side in a used car market where you've got to buy parts to fix the cars they don't have sort of the guaranteed warranties that others do. i'm still there. it once a

. >> you count among your mentors in this process the former president, barack obama, warren buffette wished he had the idea for airbnb which is a statement coming from him. what is the best piece of advice either or both of them have given you in the last few months? >> warren buffett, i'll tell you a quick story i got to meet him, i met him at a conference, i was with him and jeff bezos and i asked jeff bezos because i knew warren also mentored jeff i asked what's the best piece of advice warren give you and he recounted a story saying one day i called warren and said, warren, your investment thesis is so simple, why don't people copy you, he said because people don't want to get rich slow. we're focused on quick hit successes, and in warren's case many are months in the making. with the president one of the things he said, it's important to institutionalize your intentions so even as a public company you can influence what's your decision. so it's about being thoughtful about what you want the company to become. >> it's a big day for you guys. i'm glad your mom no longer has to wo

the inside, on top of that i had a chance to speak with him and he's doing really well and warren buffettyou, he said and we can put up the quote he told me this a couple of hours ago that jim weber is knocking it out of the ballpark what he has done online with brooks is incredible. so jim, congratulations, you have to top off, really thinking highly of you, thank you so much. >> thank you, liz, thank you for having me have a great holiday. liz: be healthy and well, connell mcshane will have all the nike earnings action "after the bell" at 4:00 p.m. eastern, charlie breaks it next, we're coming right back. when you switch to xfinity mobile, you're choosing to get connected to the most reliable network nationwide, now with 5g included. discover how to save up to $400 a year with shared data starting at $15 a month, or get the lowest price for one line of unlimited. come into your local xfinity store to make the most of your mobile experience. you can shop the latest phones, bring your own device, or trade in for extra savings. stop in or book an appointment to shop safely with peace of mi

warren buffett was our largest shareholder.s and eisner approached made an offer that not only we felt we couldn't refuse, but we felt was in the best interest of the shareholders and the company. in the back of my mind, even though michael made it clear ,hat it was never a guarantee if i performed well, i could potentially run the disney company at some point. david: eventually michael eisner decides to retire. lookoard says, we have to for somebody to run the company. did they call you up and say, it is your job? contestittle beauty would be an understatement. we had gone through a tough period of time. the board felt, and rightfully so, that they had to be expansive in their thinking about who the next ceo should be. they created a true contest. they interviewed outside candidates. they said to me that i was the only inside candidate. guarantee,s it not a it was less likely that i would get it. they seemed intent on bringing change to the company. they felt it was needed. as the insider, i actually had the outside track. dav

and warren buffett that value he's buying 100 times sales.ed by berkshire. >> yes >> can't wait. that's going to be a big one tonight. 6:00 p.m. eastern. speaking of cloud. microsoft's head of cloud will join us. holding on to s&p 3,671. ♪ should auld acquaintance be forgot ♪ ♪ and never brought to mind ♪ should auld acquaintance be forgot ♪ ♪ and auld lang syne ♪ we'll take a cup of kindness yet ♪ ♪ for auld lang syne next customer please. ♪ ♪ >>> good thursday morning. welcome to "sqwawk on the street." sima is with us this hour. we'll go back to rick. >> yes, our november final read on ism services expected at 58.8 over delivered by .1 at 55.9 following an unrevised 56.6. sixth month in a row in expansion territory. not the highest read we've had 58, 56.9 you see better than expected so we'll continue to monitor this and all the other pmis as we try to move towards the other side of the covid-19 virus dav david, back to you >>> thank you. news out from boeing we'll get to phil la low with details. >> boeing announcing a big order for the 7

charles: we should say snowflake has the advantage of having one important investor, warren buffett.e're down to a minute to go. i wish we had more. my teleprompter is stocked with 20 more questions. before we wrap it up let me go around the horn if you will, get what you guys are looking at. what are you doing? i hear a lot of pessimism but, not pessimism but caution out there. nate is there anything we should be buying? industrials, materials, some unloved names, energy, that haven't been doing great, any place we should be? >> charles, i'm staying away from a lot of cyclical names. those are really worked since pretty much september and really since the summer if you looked at it. one name we like is stamps.com. they play in e-commerce. we're peak season for the holidays. volumes go up. every time i come home i can't get through my front door with all the packages standing in the way. stamps.com will be a really good name to own at the end of the year. charles: my wife was ups's employee of the month. i know exactly what you're talking about. by the way, i love stamps.com. the see

is you have a great relationship with salesforce mark benioff, big shareholder, by the way, warren buffettolder, growth and value buying your stock but what they see is a company that's kind of indispensable in the modern world that some companies like, yes, google and facebook may have the complicated algorithms, they can do that but most companies can't even afford to do themselves what you do for a fraction of what they can do it for and that teams to be a value problem significance that a berkshire might like and a benioff might like. >> yeah, absolutely. you know, we used to run businesses, you know, through what i would call anecdotal maturation, having meetings and telephone conversations, whatever it is, and we kind of phone, you know, the picture of reality as we go along through our day. that's all changing, and we -- by the way, the pandemic has really shown that a lack of data creates mass confusion in society so what data is becoming is really the way to parse, to understand and to act on the realities as they are unfolding, and we just can't go back to just rely on anecdotal

that windfall, buffett noted quote did not do anything we accomplished. so it's funny, deficits did not matter to the 52 when it was a tax cuts to the 600 richest people in america. but even at this congress was not ending in five days and we had time to figure how to pay for, june how we can't pay for? cutting foreign aid. president trump has been talking a lot about foreign aid in the last week. now the money was spent on foreign aid all supported by democrats and republicans over the years, all of its smart investments in our nation security, that was not in the covid relief package for it was in the annual budget as it always is. just happens this year the covid relief padgett and the package were together. let's say trump got his way in every single dollar foreign aid was cut out oft. the budget, with that pay for the $2000 checks? not even close. president trump apparently hasn't over sized impression on how much we spent on foreign aid. because our annual foreign aid spending does not even equal 10% of the cost of eight one-time 2000-dollar payment

again, wells fargo, coming to dividends, warren buffett is who is holding it forever. that's your pair trade. charles: we're going to call it educational wednesday with ken. thank you, my friend. liz claman, as i hand it over to you, the market is under some pressure but this ipo mania is pretty exciting. >> liz: we are all over it we are checking every couple of minutes on the doored but we are getting more news right now on this breaking story regarding facebook, the new york attorney general unfriending facebook, just minutes ago. leticia james along with the attorney general of 47 states filing an anti-trust lawsuit against the social media giant over a whole bunch of accusations of anti-competitive behavior. we are going to be getting more details on this soon from that news conference that just finished at the moment. we do have a reporter there, we're getting all of the scoop but the stock is getting slammed meanwhile, complete opposite sentiment for doordash. doordash bashing down the doors at the new york stock exchange as it makes a spectacular public debut.

warren buffett was our largest shareholder. i thought he had enough faith in me.hael eisner approached us and made an offer that not only we felt we couldn't refuse, but we felt was in the best interest of the shareholders and the company. it turns out we were right. in the back of my mind, even though michael made it clear that there was never going to be a guarantee, i thought if i played my cards right, and if i performed well, i could potentially run the disney company at some point. david: eventually michael eisner decides to retire maybe a little earlier than he thought he would retire. the board says, we have to look for somebody to run the company. did they call you up and say, it is your job are did you have to go through a little of a beauty contest? bob: a little beauty contest would be an understatement. i mentioned earlier in this question, we had gone through a tough period of time. the board felt, and rightfully so, that they had to be expansive in their thinking about who the next ceo should be. they created a true contest. they considered a number

[laughter] if warren buffett hasn't said that yet, he should have. jack: hey, jack howe said it. i need. carlton, let's talk about, wow, i am scared the market goes up, it goes down, i want to put all my money in cash. whew shouldn't i do that? >> well, you know, cash is also sexes city, but i think people who hoard cash, it's almost the other side of the coin. at lot of times people system at the bottom, they think they'll know the right moment to be in the markets and, of course, they miss that. understandably, you know, when you go through a time in march, a lot of people will reevaluate their portfolios, and it might make sense to hold a little bit more cash, what do i need over the next suggestion months, and in -- six months, but what you don't want to do is really radically change your portfolio allocation where you're taking, like, you know, 0, 20% or more cash holding that's not earning anything on the upside. jack: people tend to be scared about headlines of the market plummeting, and it does happen. you're going to have paper losses. but what they don't understand is t

many hours it takes for you and time can never be replaced there's no amount of money asked form buffett he said that recently there's no amount of money that can replace time. right while this is a case that one can make for an american sovereign wealth fund you know let me explain a little bit about that so that rise in the stock market we as we've covered recently it's 50 percent due to money printing and stock buybacks and manipulation and accounting fraud. which is the way that the wealth is transferred from 320000000 americans in aggregate to a few wealthy has fund managers and high net worth individuals and it's patently unconstitutional and un-american if the goal was to create the wealth of a nation as adam smith might say then a sovereign wealth fund should have been already created going back to the eighty's under the massive deregulation of the reagan tax or era where of the rise of the it's fine actually engineer wealth of the markets would have been shared in something called the american sovereign wealth fund and this would have paid for health care this would have paid fo