her name is rachel buffett. you may remember her from a story we first reported in 2016, about her then fiance, dan wozniak. and about two families in search of the truth. >> i know a lot of answers now. a lot more than i had the last time we met. >> now, the final curtain. >> i believe with all my heart they were trying to get me back and kill me. >> new information. >> there's things that people need to know. there's things that need to be said. >> and a question, what would you do for love? we'll get to all of that. but first, let's go back to where this story began. orange county, california. not too far from the coast you'll find the camden martinique apartments, occupied mostly by students from nearby colleges. >> we had the pools. we had the hot tubs. >> back in 2010, vylet randolph lived there with her then husband. that's where they met a 20 something couple named dan wozniak and rachel buffett. violet's husband described them to her. >> there's finally a couple who is little more mature, the wine drink

i think the companies are misreading it. >> speaking of ferc, we'll get to oxy and buffett getting the for nearly half. a bunch of software earnings headed our way in the next few days jackson hole on friday we'll get to kramer with that and his mad dash in a moment and nus. ialnsenbelln ig t mite your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire (vo) at viking, we are proud to have been named the world's number one for both rivers and oceans matching your job description. by travel and leisure, as well as condé nast traveler. but it is now time for us to work even harder, searching for meaningful experiences and new adventures for you to embark upon. they say when you reach the top, there's only one way to go. we say, that way is onwards. viking. exploring the world in comfort. >>> all right. a little more than seven minutes before we get started. a week's trading at the nyc. the mad dash, ups. >> this is an inte

do you think that buffett is following the age old adage?a net buyer of equities in the second quarter by 3.8 billion dollars or 45 point $2 billion in 2022. comparing that to 2021, a net seller. what else happened was the appetite for buffett stock has been a big buyer of berkshire hathaway in the past. [indiscernible] it's not necessarily meaning that buffett is going bearish on its own stock it's just that it being a lower priority as for which stock -- petroleum being one of them. raising questions about buying the energy by -- energy giant. [indiscernible] 100 $5.4 billion at the end of june compared to $106 billion at the end of the first quarter. shery: what about warning signs that investors can take away from the numbers? >> operating profits came in at 9.2 billion dollars in the second quarter for insurance and railroad businesses but on business in the division stood out, geico, personal auto insurance business that reported in underwriting loss of $487 million. berkshire says those geico losses came from higher claims and an upti

warren buffett goes into something with a strong view of how it plays out not over quarter to quarter posting the accounting, but the next three-to-five years sdp. >> a huge time horizon this is interesting. the broader question that i have right now in the market is who has been benefitting from the rally? they heare sitting with huge amounts of cash. that was the view of many investors. there wasn't enough value in q2 to put the money to work with the macro back drop. the stock has rallied. is it the algorithms benefitting here i think the trade higher we have seen in equities has been painful for a lot of investors it seems berkshire is one of the investment groups and fund managers which suffered. >> it is interesting that the rally actually started to turn in july. after many of these companies would have reported the quarterly earnings that is a positive thing heading into the third and fourth quarter. the same issues -- >> should they invest? >> there it is that and the inflation pressure that has come up as well they are talking about rising operating costs and rising inflatio

if you owned them the last couple quarters, warren buffett made a lot of money. >> the same time buffetting whales are circling each other >> just billionaires trading stocks among each other. wouldn't it be nice? >>> we have more to do and we will talk more about this. we will talk about dan loeb's stake in disney with michael natanson and sara fischer. why he wants espn to spinoff. >>> and the impact of the inflation on the markets dom chu is back to crunch the numbers. >>> as we head to break, look at the s&p 500 winners and losers dow futures down a touch we're on a four-week win streak. grab another cup of coffee "squawk box" is back after this. >> announcer: executive edge is sponsored by at&t business at&t 5g is fast, reliable and secure welcome ur third bark . oh, i can tell business is going through the “woof”. but seriously we need a reliable way to help keep everyone connected from wherever we go. well at at&t we'll help you find the right wireless plan for you. so, you can stay connected to all your drivers and stores on america's most reliable 5g network. that sounds just pa

buffett takes $44 billion losses mostly in the stock portfolio. billion-dollar hit. mas's son will take fewer risks. tiger global, they blame inflation for for a hit that takes down their portfolio 50%. these are titans. how do you brace people for losses that can be really big? >> first thing you have to do, been diversified. one of the things you see, they tend to be fairly concentrated investors. they have been incredible long-term performers but for most individuals you want to be diversified so you're not overly exposed to any one area when things go down, rule number one. number two, make sure you're inside of your risk portfolio. we're taking care of people's life-changing wealth which they cannot afford to lose very often heading into retirement. make sure you can sit tight. not how much risk your portfolio can stand and how much makes you comfortable to let you sleep at night. most people don't go through the exercise. we do, and if you don't sit tight with declines, by the way you have 20% declines every six years. average recession mark

i think that the buffett comparison is really important because he has made so much money.in fact when he was at a shareholder meeting in may he said, about a month ago, i bought apple every day for three days straight and only reason i stopped buying it because it started to go up. he only buys it when it goes down. let that be a lesson if you're willing to follow a deal on buffett. you also like american express. i just want to say about the financials at this point, we're looking at a federal reserve that continues to raise rates. does that play into your picture? >> yes. american express is another stock on our watch list that we like. the rates going up is actually good for them because it improves the net interest margin but more importantly this revenge spending on travel and entertainment is huge, right? because we were deprived of it during the pandemic. now we're splurging on it. american express is a huge beneficiary of that because a quarter of their billings come from travel and entertainment spending and they have been seeing that sky rocket t has gone back to

charles: happy birthday, warren buff buffett. 92 years young today and still managing money, managingareer advice for others. there's a story about buffett, he wassing asking someone when would you start doing something you liked, right in they were talking about working. guy said, well, i'll get to that some day to which warren buffett replied, well, you know, your plans sound like saving for sex for your old age, it just doesn't make a lot of sense. [laughter] the reason i bring that up, it reminds me of my take yesterday, we talked about gen zer jobs. it seems like we are not dreaming enough, particularly younger american, and for a long time that was a trait, even an obsession. ranguard tweeted: setting a kid up to dream and plan early is how to make them successful. jenny said, so real, having a vivid imagination, seeing a problem and thinking outside the box because instead of reading books, learning about warriors and inventions of the past has aiken a backseat to gimme and self-satisfaction. and another, never stop asking kids what they want to be when they grow up. aim for yo

looking at byd's, warren buffett, they're responsible for some of those declines.o looking at china's megabanks as they report slow profit this is xfinity rewards. our way of showing our appreciation. with rewards of all shapes and sizes. [ cheers ] are we actually going? yes!! and once in a lifetime moments. two tickets to nascar! yes! find rewards like these and so many more in the xfinity app. >> took interest break there. we do have the prime minister talking here. you can see them talking about the reopening of the country. saying they will keep all of those lines here. they will be raising their daily capital to the seventh of next walk -- the seventh of next month. >> these are non-guided package doors. take a look at 1.2% lower. you are seeing a bit of softness here. there is some strength in the end. i'll be very marginal. commodities come to the downside here. we will continue to watch what goes down with the u.s. and u.s. futures. u.k. futures are also just slightly higher. >> we talked about some of the drags on the hang seng index. part of them not the

but for warren buffett, this can be extremely misleading.e to exclude the equity fluctuations, operation earnings, revenue decreasing 40% year over year. berkshire hathaway were in net purchases, capitalizing on the buy the dip mentality. the cash file basically unchanged for the quarter. warren buffett sees this as oxygen for his holding company. also $1 billion of share buybacks. berkshire hathaway have out performed the s&p 500 for the first half of the year, experiencing only 2.5% and losses compared to 13% for the wider benchmark. manus: they have certainly gorged themselves on stocks. good to have you with us, laura wright. setting the agenda. we've got through monday and didn't break anything. bloomberg markets europe is up next. are you here for the week or are you away? dani: here for the week. i am here for the next hour. i'm making up for it. this is bloomberg. ♪ this is xfinity rewards. our way of showing our appreciation. with rewards of all shapes and sizes. [ cheers ] are we actually going? yes!! and once in a lifetime moments

i do agree with warren buffett. -- i always asked, what is the best investment you can make? he said, in yourself. as long as the education is right they will never be a higher return on investment than a proper education. kailey: of course you have a hand in educating students still, teaching at the university of virginia. as we were talking we did get the headline crossing the terminal, bloomberg reporting that biden will be forgiving $10,000 in student debt, $20,000 for pell grant recipients. this is at a time when the president is focused on bringing inflation down. there has been argument made that this is going to add to those price pressures. it is your read on inflation's trajectory? how far will -- how far we are away from the peak, and what does the dissent look like? [laughter] john: another great question. i wish i had something i could share with your viewers on inflation. other than the fact that we have an inflation cycle. i joined tiger in 1987, and the 10 year rate was very high. we had been in a di

. >>> plus warren buffett's berkshire hathaway not immune to the economy as souring sales is not enough to help the bottom line. >>> later on, elon musk looks to take on twitter ceoagrawal outside the courtroom with the challenge. it is monday, august 8th, 2022 you are watching "worldwide exchange" here on cnbc good morning i'm dominic chu in for brian sullivan let's kickoff monday with the equities pointing to a positive open s&p off the third winning week in a row and the index is now equal distant with the 52-week high and 52-week low 14% from each level to be exact. dow jones industrial average is implied higher by 57 points off the session highs. nasdaq up by 55. modest gains at least to start the day indicated right now. better than the broader market small caps continue to shine with the russell 2000 with a 2% gain last week and capping off the first three-week winning streak of 2022 you can see the russell small cap up .75 in friday's session checking on the bond market side yields obviously very much a big part of the discussion now given the blowout jobs report on friday, the

buffett still show pack massive $1.54 billion cash pile.hich by the way he is the not sure where he will deploy it, parks it in short-term treasuries. short-term treasurys one heck of a large mattress. joining with us a approximately billion dollars in assets under management. therian partners ceo greg. greg, most of us don't have such a big mattress but you feel there is a way to parking cash, what you feel is the long road to the bottom of this volatile market at the moment. where do you put your money? >> absolutely. liz, thank you for having me back. we expect this to be more of a w-shape recovery and investors shut expect to embrace volatility, for reasons i'm happy to go into if we have time but to answer your question specifically savers have been penalized over the last decade with the low interest rate environment. things like a 90 day t-bill are quite attractive given this dislocation in the yield curve. usfr is a etf that tracks 90-day t-bill. pays yield of 2 1/2%. for short-term, relatively safe place to park money, not a bad pl

you have warren buffett's recent favorite, occidental petroleum up 4% today within the tech landscapewith the nasdaq 100,, up more than 16%, to the downside, some of the regulars like tesla losing. on company specific, bristol-myers squibb up more than 5%, tied it to trial results for a preventative treatment on strokes. makes results weighing on the stocks. kriti: one of oppenheimer's is one of one of the most bullish strategist and he is sticking to the call. >> stocks can go up as interest rates rise and there is concern over inflation. i got into this business in 1983, so i have been through a ton of cycles. in the beginning it is tough and the naysayers always say the fed is going to fail. kriti: the case for bull on stocks. >> we are seeing this last night going into the morning. the s&p 500 trading above its 50 day moving average, and that will be a key technical level. we are seeing tax still salt -- tech still sell off. now it is said that as long as the s&p 500 stays above it is ok for him. if it goes below, he will reassess. that is an interesting term. jon: i am glad you m

. >> clearly warren buffett and berkshire halfway does not think the move is over.think there is another higher and clearly i think warren buffett thinks that as well and occidental, 180 million shares north of 20% and invested interest in seeing the company do well and it will. flirting with the 52-week high but nowhere near levels we saw five or six years ago. you can stay with it despite the commodity seems to be under pressure. >> i think it's an interesting play on the resource if we've been under investing for such a long time and we could see a supercycle of investment that sets us up longer-term. >> next up, so five more than 7% on the back of softbank announcement it would sell part of its stake in the company. is this a self i story or softbank story? >> more to do with softbank. they have a large stake and lowered it much more levels than here and they may sell some or all and i guess if you're in the business of buying stocks you don't want to get in front of buying the stock where the largest shareholder has suggested and i like the company and manageme

. >> thank you >> you're a believer if one of your stocks is warren buffett's berkshire hathaway, i'd have to believe that you're a subscriber of the buy, and go for the long run school of thought. >> absolutely, tyler we're big believers that time in the market is way more important than timing the market in fact, timing the market is a fool's game. at the end of the day we're confident that two or three years out from now this will look like a great time to have bought and just stick to the with the strategy of staying fully invested all of the time. >> remember, as hard as this year has been or seemed, the levels in the indexes are probably back to where you were in say, 2019 and 2020. i don't know the exact number, but remember that you're probably if you're a long term investor still ahead of where you were we have a couple of other names and we'll get to berkshire in just a little bit and a couple of other names that we don't typically hear about on cnbc and the first one is viva. and it's not the paper towel what do they do and why do you like them? >> viva is an interesting co

disney is classic because you've got parks, right, which is warren buffett's see's candy and you cant any time you want and then you've got streaming that people just don't get. >> let me just jump in, is there a chance though, lee that their content will go out of style now you could say maybe for political and cultural reasons and maybe there's more competition and maybe, there's other children's content, as well what makes you so sure that this will be a durable franchise for the decades to come? >> because babies are everywhere every year i see more babies. >> you're preaching to the choir. >> right >> i don't know if they're as everywhere as they used to be. >> put it this way, when you're a parent and you're sitting there with young kids and you want to sit on the couch and turn something on and close your eyes and take a nap and hear the sound of little giggles, grandparents and parents are going to choose content that they're familiar with and that they trust and they trust the disney brand, right? they trust it because it's family oriented. everybody is familiar with it and

let's get to bob pisani. >> on warren buffett's birthday, the essays of warren buffett, one of the topbooks. take a look at the major movers. cathy woods ark fund doing a little bit, they're going for the slightly growth here parts of the market. that's a good sign that's a reversal of what's happened as carl referenced, you see energy down about 2.5% i want to point out what a big decline these energy stocks are. they've had a big run. occidental, new high yesterday, down 4%. hess was 2% from the new high. down 2%. exxon is down. chevron is down. and nat gas-oriented stocks. apa, that stock went from 30 to 40 in a couple of weeks. it was 42 yesterday. so big, big runs in these nat gas stocks all getting down -- all down a little bit more than the market as always, the issue is the fed, we need confirmation, inflation is peaking and commodities haven't been helpful this month. oil is flat, down 3%, maybe, right now. we're seeing some other things, nat gas is up 10%. energy stocks have been on a big tear i just showed you there, except for today. they're up 7% for the month. that's a bi

how berkshire's paramount bet, buffett scoops up more shares of apple, inches from all-time highs.reak to down, hello, tony. joining me here at

that will provide you a better buffett i think.ize complaining you only had 15% in a year when somebody else had more, you might be lucky to have 10 or 8% in this environment going forward. taking more risk, well you might have a better year here or there, when things turn bad it could be much worse. charles: jim great stuff. thank you very, really much. >> thank you. charles: wall street headed for the hills, the market was acting pretty good, right? so the question could the experts be overthinking this fed and their challenge of a soft landing? also europe's energy crisis, america's fate really we don't do something soon we must wake up. victoria coates what we should be doing before it's too late. we'll be right. research shows that people remember ads with young people having a good time. so to help you remember that liberty mutual customizes your home insurance, here's a pool party. look what i brought! liberty mutual! they customize your home insurance... so you only pay for what you need! ♪young people having a good time wi

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. >> warren buffett giveth and taketh away, shares sliding this morning as berkshire hathaway. >>> former president trump's special request for a master to review documents, seized by the fbi during a raid in mar-a-lago. >>> snap shares sinking as management prepares to lay off a huge number of workers. >>> it is the final day of august 31st, 2022, this is "worldwide exchange. ♪ >>> good morning, good afternoon, and good evening, and as always welcome from wherever in the world you may be watching thank you for joining us on this final day of august. amazing how fast the summer has gone let's kick off the hour with a check of the markets and your money. stock futures are slightly higher across the board, this coming off another rough day for stocks with all the major averages down 1% or more and more than 15% on the year. investors are going to be happy to see august hit the rearview mirror it has been one of the ten worst months for the markets in a number of years, and not to pile on, sorry, but september remember historically the worst month of the yearfor stocks, maybe we just pulled

warren buffett adding to the ally financial stake of about 4% on the session so far. taylor: keeping our eyes on the equity market, we will go back to the big economic data we got this morning. the once booming u.s. housing market turn to cool off a bit. falling in july, the slowest pace since about february 2021. for more, i want to bring in our retail reporter and housing and economic reporter, patrick clark. what do you make of the data we got this morning for there may be confirming some of the data we got yesterday when we spoke with you? patrick: homebuilders are spooked about the health of the homebuyer. they do not want to see inventory sitting on their balance sheets, it costs them money. they will build fewer homes. jon: if we try to look across the country, i know you and the team have been looking at different pockets of the u.s. where you are seeing changes. maybe you could walk us through geographically what is happening. patrick: the markets that were really hot throughout much of the pandemic and years leading up to the pandemic got overheated in the f

. >> all right, we do have time for one more this one says, with buffett buying, apple selling bonds stock and money going into s&p index funds, how do i manage my apple short plays if this thing doesn't behave the way we think it will? take this one, tony, please? >> i think that's a fantastic question, and i think this is a broader question with respect to when a trade tonightdoesn't wor what do you do you should have a plan and stick to that and make sure you don't throw good money after bad money. if you want to get out of a trade and into another one separate the two decisions >> up next we have the final call thinkorswim® by td ameritrade is more than a trading platform. it's an entire trading experience. with innovation that lets you customize interfaces, charts and orders to your style of trading. personalized education to expand your perspective. and a dedicated trade desk of expert-level support. that will push you to be even better. and just might change how you trade—forever. because once you experience thinkorswim® by td ameritrade ♪♪♪ there's no going back. >>> final ca

over a decade ago 2011, buffett wrote an op-ed for the new york times.eakthrough, today writing in part quote, while most americans struggle to make ends, me we mega rich continue to get our extraordinary tax breaks. some of us are investment managers who earn billions from our daily labours, but are allowed to classify our income as carried interest. thereby getting a bargain, 15% tax. often and it is op-ed by arguing that the he and his billionaire friends have been coddled by congress for a long enough. i think we'll end it there as well. re a well well sure, they're twice as cute together, but now we've got double the stains and double the odors. thankfully, we also have new tide ultra-oxi with odor eliminators. it can handle double trouble, because it's the #1 stain fighter. and the #1 odor remover. i thought you guys were helping! for the #1 stain fighter and odor remover, it's got to be tide. age is just a number. and mine's unlisted. try boost® high protein with 20 grams of protein for muscle health. versus 16 grams in ensure high protein. boost®

and i always want to be like warren buffett. i don't want to be a day trader. i don't want to be in and out stocks. one of my great companies that do their that was interesting little late to the party. the upgrade after around a 30% chance of $200 target on to play some 18% upside from here. in the meantime, looks like you've been not by apple, but even my alot of plants. >> get a lot more clients in that room is looking good. thank you, daryn. i like that. you noticed me. it means a lot to nice decker and i see the new picture you have. there are little wall hanging. very nice. robbie is a working on his home. that's all getting the economy going. >> and if you have any questions or rob, you can e-mail him. >> or you can reach him on ♪dance! by christian a medice & elisha noll♪ ♪are you ready?♪ ♪ ♪let's go♪ ♪ ♪ahh yeah♪ ♪ ♪step to rhythm like♪ ♪you're going out tonight♪ ♪dance get with the groove and♪ ♪dance get up and move let's♪ ♪dance kick off your shoes and♪ ♪show me how you♪ ♪dance♪ ♪ ♪dance♪ ♪ ♪dance♪ get a free storage upgrade and case with s pen when

with buffett buying apple, selling bonds to buy stock and the money going to the s&p finance funds, howage apple if it does not behave the way we think it will? >> that is a fantastic question. this is a broader question with respect whether trade doesn't work out, what do you do? you should have a before you get in as to when you will get out at the loss, and stick that. make sure you don't throw good money after bad money. if you're going to get out of the trade and you want to get into another one, to break the two decisions from each other. >>> up next, we have the final call. in three seconds, pam will decide... i'm moving closer to the grandkids! wait. i got to sell the house! don't wait, just sell directly to opendoor. easy as pie. piece of cake. whichever. when life's doors open, we'll handle the house. thinkorswim® by td ameritrade is more than a trading platform. it's an entire trading experience. with innovation that lets you customize interfaces, charts and orders to your style of trading. personalized education to expand your perspective. and a dedicated trade desk of exper

what's fair value in your mind in far be it to say that warren buffett's wrong.e have new capital. >> if you had new capital and were you trying to play in tech land, where would you put it in. it >> i look google and alphabet. there's few companies that have stronger competitive positions on this planet than alphabet and the multiple is not demanding at all they have pulled back recently unlike apple i think today that's more of a place where you look >> all right barton, gene, thank you both for a bit of all sides of this debate and we we'll see where it heads >>> when we come back, could europe signal tough times for the u.s. implications for the global economic recovery. and goldman sachs downgrading china's growth goldman sachs lowering its 2022 full-year forecast to 3% from 3.3% and nomura slashing down to 2.8% they were up to 3.32 "squawk box" coming right back after this sthoo >>> time now for today's aflac trivia question. what three countries account for ab 41% of theor's wld total wheat production the answer when cnbc "squawk box" continues e aflac pre

helped the farmers, you know what we created, you heard it right, you saw that it is armed with don buffettith the ministry of foreign affairs with an office the president's zhdyv victory fund, charitable harvesters were brought in, which are now provided free of charge with headlights for threshing, since there are not enough operators. and why not collect some 20 bunkers for the farmer in a day and not help him, this is a cost saving well, if you find out, the inter-sessional period has begun, the buckwheat is leaving. by the way, it was not bad yesterday somewhere there 1.7 1.8 t is not bad for buckwheat, it will also soon start in some regions, in seven, in two weeks, with sunflower, with organic soybeans, and in general . which are at best will be completed there on december 20, that is, there is still a lot of work to be done, a lot of threshing , collecting a lot, uh, if it concerns other agricultural products, well, of course, many questions can be raised here, as in the livestock complex, poultry farming, what it concerns honey. by the way, on which day is thailand or where to take

the people in the fields. programs can victory all-ukrainian from america thanks to the hunger of buffettvisit the president of ukraine, together they launched this program and now provides grain harvesters , new combine harvesters on a free basis, to save money, faster, drugs and plus the new harvester calculates the toll, i’m leaving in general without a sphere, you can tell him that the 29th year of production is the newest technology, that is, the fifth, in any case, there are and can be, unfortunately, but we don’t have to stop, because if we drop the notes and we will stop, it will be the best, what is it waiting for. if we develop, support each other and do not go forward, believe this, the enemy will not like him the most, understand that he will never win, mr. dmitry , we agree with you, we must unite, but the enemy committed the insidious murder of the hero of ukraine, mr. vada turska, we understand that it was not a personal murder of him as a person, it is about the fact that the owner of a powerful player in the agro-industrial ukrainian market was killed, that is, a person w

haslinda: warren buffett's berkshire hathaway approval from u.s.s to purchase 50% of the petroleum company. it first made a bet on the houston-based oil company three years ago. occidental's stock had its biggest gain in five months. david: and currency markets are the big ones to watch today, obviously with the strength in the u.s. dollar and the korean won, and the euro, we are flirting with parity. a little bit off highs as europe wakes up. sterling, litter quickly, a similar scale. yields going the opposite way of where the currency is going. we are getting into the thick of things here. asia is down. u.s. futures are down. looks like pressure might see -- looks like europe might see some pressure ahead. this is bloomberg. ♪ >> the following is a paid program. the opinions and views expressed do not reflect those of bloomberg lp, its affiliates, or its employees. >> the following is a paid presentation furnished by rare collectibles tv llc. >> 2021 marked the

spacs, money out of a chinese -- maybe this is when -- happy birthday, warren buffett, 92 maybe he's getting in. or as a special birthday venture, van morrison, happy birthday and maybe he's a spac buyer now. >> still touring. >> amazing i love van >> he's an interesting cat >> yeah. i was at a van concert where he yelled at us >> he yelled at you? >> yeah. >> were you making noise >> no. >> not paying attention? >> he wasn't happy with us >>> he'll turn his back on the audience, stage fright >> yeah. he'll spac you in a nanosecond he was spac'ing people before there were spacs >> before there were spacs, there was van morrison spac'ing people >> crude oil on the pace for the worst month of the year. yesterday was the worst day for the gasoline etf in two months rolling to the october contract. 254 would imply retail going below 3.5. >> a win for powell. we continue to president trump from the strategic petroleum reserve, which at this point is absurd >> is it recession fear or -- >> yes and the russians, whom everybody acknowledged are just -- they're pumping like -- it's amazing th

warren buffett adding to occidental berkshire paid $91 million for shares between august 4th and 8th. think he is buying a lot of oxy, you are right the total stake in oxy is over 20% for warren buffett they own one fifth of the company. oxy stock jumped to 60 in a year berkshire not buying in the oil is going away theme. not right now. owns 20% >> legacy businesses that strategy. >> take the cash. >>> meanwhile, snap is reportedly set to layoff employees. the company is in early stages of planning and the scope of the cuts is still unclear. the snapchat owner has more than 6,000 workers and warned last month of incredibly challenging business conditions. other tech companies have announced job cuts and plans to slow hiring as well. yesterday, groupon cut 500 workers which is 15% of the work force. groupon will focus on mission critical activities. >>> president biden will sign the bipartisan chips act in law today. ceos will be in attendance from the car industry joining us is jared wisefeldt. good to see you. that stock got crushed yesterday with nvidia. what is your take on chip st

you. >> that's easy may 10, 1965 that's the day warren buffett took over at berkshire hathaway.ot a million left from building the time machine. i would take my half and just stick it into berkshire and then i'd come back here and be a billionaire. is there such a thing as a trillionaire. >> i believe berkshire was trading at $19 a share, so $500,000 would have bought you 23,316 shares, which tould word be about -- of course the price is $461,000 give or take so that would be $12.1 billion so i think that's a worthy time machine. you wouldn't be a trillionaire. >> a billionaire several times over good plans. >> well done. >> there's a connection vince gilligan had both charlie mung ger and warren buffett earlier in "breaking bad." vince knows them, he goes out to the annual meeting there's a pretty close connection you see why it winds up in something like that. >> not only that, but warren ended up, i believe, going and taking a visit to the "better call saul" set maybe back in 2015 he always talked about "breaking bad" being one of his fachblt shows, and i suspect "better call

dubbed india's warren buffett, due to his reputation for long-term equity investing and was among theinfluence will market voices in the nation. started buying shares with a loan of $100 in 1985. along the way invested in some of india's most prominent names including its biggest jeweler and an airline startup. this is bloomberg. ♪ -- global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i am vonnie quinn. this is bloomberg. shery: the u.s. stock market rally continuing for four consecutive weeks, the longest rally this year. recovery could be facing a new hurdle. annabelle with the morning calls. it could be the end of an era for record share buybacks? annabelle: that's right. we saw big names forcing their buyback flags. jp morgan, best buy, citigroup. we have seen record buybacks over the past few years, really since the start of the pandemic. about $1 trillion worth of share buybacks from executives here. any retreat really does strengthen what has been a critical crutch for sentiment in the m

for warren buffett, he views cash in a holding company as oxygen.ght reduction from what we saw in the previous quarter. overall, berkshire hathaway has outperformed the s&p 500 and the first half of the gear. virtua hathaway in orange has lost about 2.5% in the first half of this year compared to losses of around your team percent in benchmark. tom: this is something of a litmus test for the health of the overall economy. what would you glean from these numbers? >> overall topline growth has been hit by supply chain congestion and higher cost impacting the bottom line. but berkshire hathaway is a microcosm of the u.s. economy and a few examples illustrate this. geico, an auto insurance company. berkshire hathaway owned this business. it is so much more expensive to replace or fix damaged vehicles and it was the fourth straight quarterly loss at geico. bnsf railroad, one of the four pillars of berkshire hathaway. revenue increased 15% year-over-year. the company had to pass on fuel surcharges to its customers. clayton holmes is a modular homemaker.

he's read in numerous critically acclaimed books including the new york times bestseller buffett when genius failed and the end of wall street all which we do have available for sale if you want to get signed at the end of the presentation, yes, three children and lives with his wife judy sloven in cambridge, massachusetts and tenants harbor, maine, please give a round round of applause for rogers thanks so much. it's great to see you here. it's great to be here where i lived in the mid-1980s when this tour was across the street, but was a haven for book lovers in a town where some people prefer to go to the beach now and then and it obviously the store has thrived so it's great to see all of you here. this book is is about the civil war as you probably know and the first point i want to make is really the main point of the book about the the tremendous financial burden that lincoln and his treasury salmon chase took on to finances war. i'll talk about them later in the talk, but they had what i would call a marriage. it was a very fruitful marriage. not a very happy marriage, but the

i understand why long-term investors like buffett continue to add to their position.if you own some of the commodities in oil stocks over the next three years, you will probably get paid 100% of the price of the stock today. as a conservative investor, i like that play. on top, you can do cyber security and defense. alix: what do you hate in that scenario? >> i do not like companies with high sensitivity to interest rates. we've seen the flipside right now. the 100 basis points translates into higher valuations. i think if we do not solve for energy, we do not suffer inflation. if we do not solve for inflation, it will be back in play. pretty much all platforms for me are a no go. guy: how high do you see central banks taking rates? what do you think the ecb does? does it continue to raise rates? do you think a slowdown forces it to change tack? >> i think this is an important week. two central banks moved to a hawkish stance, the first ones to move last year. if they support the concept of peak rates, i think the overall sentiment can remain positive for another two

garry: it is like warren buffett says. these things are in the short term popular to contests.re talking about ipo's, the weighing machine is not willing to give multiples a lot of people want. it is hard for me to predict, to be frank, when this will happen because it is sort of separate from the day-to-day of the startups which i know really well. i really hope a lot of the macro situation resolves itself. i think there are a lot of indicators that say inflation is over. i'm not exactly the right person to pay attention to there. we can tell our founders to be thoughtful about your cash, build something of true value, and don't build something for just the next round or to impress the next vc. it is really about impressing your customer, your user, high retention, high gross margin, and great customer acquisition. you know, the fundamentals. that is what we try to teach day in and day out. katie: it is great to get some time with you. that is garry tan, initialized capital founder and partner and soon to be y combinator's president and ceo. thank you so much. that does it for

the oracle of omaha warren buffett. berkshire hathaway selling off apple stock.kshire boosting stakes in chevron and activision it dumped the stake in verizon the selloff in tech not stopping tiger global the fund increasing the stake in meta and position in alphabet. slashing the holdings of snowflake. the fund cutting position in microsoft by 30% meanwhile, david tepper making cuts to his portfolio. ditching the stake in mosaic and macy's one position is constellation energy coming in at $155 million. and taking a new stake in colgate. the firm adding a $159 million stake. making this one of the top ten positions. snatching up shares of natural gas and another energy name ovintiv. revealing the stake in disney along with the call for the company to spin off the sports network espn shares closed up 2% on the news in yesterday's session. >>> to the top stories bertha coombs is back with more. good morning, bertha >> good morning, frank remember recruiters, but ramping up efforts to get permanent employees back in the office the company telling employees who work

. >>> warren buffett has no plans for a stake in occidental petroleum. planning to buy 50% of the shares, those close to the oracle of omaha says it is uncharacteristic to make a hostile bid. shares were up on friday with the news breaking. >> a big deal there. occidental hot stock. frank, thank you >>> let's get back now to the markets and your monday. we are in a wait and see mode. jay powell's speech on friday in jackson hole let's bring in ross mayfield i know the attention on the fed and europe and china in di disarray what are you and your team closely watching right now >> most closely is still the fed and u.s. inflation that leads the world markets obviously inndiosyncratic issue. it starts and ends with the federal reserve and the inflation on the u.s. side looks like to your point. we are watching powell we expect him to strike a slightly hawkish tone. they want to jawbone inflation to year end. the talk of the pivot and rally equity markets has fed governors on edge. it starts and ends there that is what we are watching this week and weeks to

. >>> let's get a check of the corporate stories with courtney reagan >> thank you warren buffett adding to the stake for occidental it paid $91 million between august 4th and august 8th. this brings the stake to over 20% or 188.4 million shares with $11 billion. at this level, berkshire could record adding billions of profit to the bottom line >>> and alibaba petitions to convert the shares to secondary status the effective date of the switch is expected by the end of the year alibaba says the move will allow to expand access to china and other investors. >>> shares of bed, bath & beyond popping after the 30% move yesterday. the highest volume day ever going back to the 1992 ipo dom, no apparent news pushing the stock higher, but reddit traders are jumping back in. 45% of the firm's float is shorted. it is also gamestop and amc which is getting the new love. the meme traders are back at it, do dom. >> a cycle they come in and out you never know >> it is wild. on some of those days when bed, bath & beyond is up, it is really up. for no news. >> i remember doing the market check yesterday

moving because it's been moving and people feel comfort in it and there's the buyback and there's buffettu know, are navigating through the china situation and everything else. tons of options activity, i know also, people pointing out for a stock that huge, $2.8 trillion in market cap, it has this steady, huge option flow that shows you, it really is just kind of about these bursts of demand that have gotten to this point it's at an interesting spot, not too far off the highs. >> we'll keep an eye on that as we get ready for the opening bell, final one of the week. a look at the bell, the cnbc real time exchange at the big board today, it is liberty energy celebrating its esg report at the nasdaq, spac gsr2 meteora, as we watch brett fill in watching the vix today as well [ bell ringing ] 21 in the among of august, its lowest since november. >> monthly average, 20s kind of the very long term average, with variance around it it's hard to say that it's telling us something concerning necessarily beyond what we've already seen, the daily market movements. what does it take for the vix to re

the stock -- warren buffett see with oxly? judging by the heinous action of the oil stocks, one of the worst i have ever seen, it should be something long-term but oxly -- good number tomorrow evening because it's prices -- one of the most enduring themes of the covid era was addiction to video games. i bet they would do well. out of style wall street fashion show more than i have ever seen. jetblue tells us how to do it. and no one can explain -- spirit airlines. is it really competitive? i admire them but i'm confident the justice department will try to block t. jetblue refuses to stop. i know they will try to solve the antitrust issue by trading to some other company but that will not be enough to -- antitrust issues. it is very good at pushing -- elliotts ballgame. not unlike what we sell with pinterest tonight. it was talked about it one time. on wednesday, this is what is so cool about this week. paypal, air b&b, starbucks. these are well-known names. these are all names you know, including cvs health. i expect a really

it's what charlie munger did for warren buffett it got him thinking about hey, it's better to own a wonderfulpany at a reasonable price than it is to try to buy the deep value stuff that warren was trained on in columbia >> absolutely. we've seen how well that's paid off. for you, that approach cana, ply to any quality stock and for apple, any time it sells off, if you think it's quality, you should be a buyer. the reason why we ask the question is a lot of the investment world does the style-type investing they're either value investors or growth investors. >> and the regional public say they want value stocks and others say, no, no i want the growth names and the performance they saw in the last decade and has a name like apple matured beyond that point or have they become less good stewards of sort of growth capital and are they changing their stripes? >> well, i never want to argue with the master, but we know that the companies that reach the largest capitalization and have pretty universal popularity among analysts are unlikely to offer above-average returns over the fall in ten years.

. >> warren buffett giveth and taketh away, shares sliding this morning as

we told you about buffett. george soros, ray dalio picking up shares of amazon in the last quarter.ares of alibaba, netflix and sales force. today's "countdown" closer says you know what? at least two of those stocks he feels you should as well add to your portfolio. joining us cash investments chairman, cio, christopher zook who manages $4 billion. chris, which are they, the two you think everybody watching should at least consider? >> you should absolutely consider amazon and sales force at this level. another one we think you should look at is blue owl capital. these are solid, solid businesses that have all gotten hit really, really hard. they bounced a bit here, you can be patient against them, calls against your position. when you look at them from longer term perspective these are great names, great businesses, great cash flow in all cases now down anywhere between 25 and 40% from their highs still as we speak today? liz: you know what amazes me about amazon? people flipped out even after they did the 20 for one stock split. this thing is never going back to 2000, wherever it

warren buffett one of the great value investors over time. clearly we're in a moment. competition is not getting any less any time soon, right? >> the competition is not getting less we have seen this consolidation. when it comes to warners brothers discovery, they announced they will be merging streaming services and coming to market with one combined service that many say really has a shot at being one of the few. maybe people will subscribe to three. one of the free mini bundles that people will be subscribing to i think there's a sense we're in the new face it's streaming 2.0 it's all about the new smaller bundles, not quite like a pay tv bundle but you're getting more than one service and the companies behind them will try to figure out what they can do to cut down on extraneous costs and figure out how to make sure they keep you hooked, you don't just drop the service after your favorite show is done. >> julia, so many different ideas to get to better profitability or new paths like add-supported models why is someone talking to you about decreased content spend?