in all, buffett has been a seller of u.s. stocks for seven quarters.pple is the number one holding at $84 billion followed by bank of america and american express and coca-cola. joining me now is barbara goldstein. many of the members consider berkshire hathaway an essential part of their portfolio. barbara, good morning. >> good morning. >> it is important we found berkshire had a big beat with earnings. everybody is talking about the cash. $277 billion. how do you view that? >> well, buffett's recent moves show he is playing offense and defense at the same time. he is playing overvalued sectors and keeping his powder try for major acquisitions or investments which is consistent with the consensus of our most recent market opportunities and risk calls. all of the mholdings are lookin for investment opportunities. >> at the annual meeting, he did say he would like to spend, but things don't look attractive right now. you believe he is being honest and transparent. he is looking for something, but valuations are not right. we have seen a selloff on wall

. >> worn buffett's punctures of all the beauty, the former i fire in your sacrum is probably not buffett tell me about that. andrew: on the north of you to has a booth today this doc still 50 percent $3 along with sephora negative moment 15 percent people thought you know buffett is going this out and i don't think it was buffett i think he's too invested in managers work with him and on poems that wes and i thank you so one of them doing it is relatively small purchase step about $3m dollars predict the stock moving is actually looking still pretty reasonably priced no one else is around 15 times earnings c1 $30 shampoo or something is still up side for the stock. >> yes, i think so. jack: what else is brookshire doing. andrew: keep things and people watching is that they have been dramatically reducing his position apple this year is because i would 50 percent for the apple sales finally be over by brookshire and now it is exactly .000000 shares is something that remember could be the buffett is done la app. jack: any other purchases in the not buying a whole lot of stocks c5 buffett i

and warren buffett's decision to sell down heavily is stakes in apple. this comes after a massive second-quarter selling spree that boost warren buffett's cash pile. let's get the details and bring in critique group to -- kriti gupta. >> there is speculation that this is a story about the consumer. warren buffett is known to have an exposure to companies like railroads and coca-cola. this slashing he has done in other parts of his portfolio including bank of america. there is a consumer story baked in. the bank of america story -- it is a bank in the states that has a lot more consumer loan exposure than any other of some of its counterparts. that is one aspect. apple falls and the same category. it is a luxury product but a good chunk of its revenue is based on foot traffic into some of its stores. there are arguments that apple has been having a tough time getting on the ai train and getting hit by the fx exposure internationally so there is speculation that were in buffett saw this was a stock that was overvalued. if you put this in with some of the o

than buffett's.don't give him. >> i would say, listen, mr. delta, i think what you have here is a case where you didn't kind of tell us that they tried to help and you didn't take their call. now, ed bastian saying, i'm not taking their call, all that kind of -- you saw the curse words and stuff like that. the stuff, but no, in the end it does hurt their case. >> bitcoin was supposed to be a -- >> not as good value as gold. >> the thought that perhaps john cook -- >> that is not the case. >> well, it just turns out that gold -- on last week -- >> who, what? >> a legal eagle, big oil company in canada, not that dangerous a place to mine, their stock has been a winner and they're adamant that when things go bad, crypto will go bad with it. gold won't. we've only found about 1% more gold each year. there's just not a lot of gold to be found, and a lot of it is in high cost places. gold is maintaining its value. i think that's great and everyone should have 10% of their assets in gold if they can get it.

>> buffett was showing a little 1q, right?ught everyone's attention. it's going to add to pressure here. it still is number one holding. he is a huge supporter of cupertino, number one holding almost double of b of a. andrew, our view is if you look at this last quarter for apple, you look at the guidance. you look at what i view as 270 million iphones in a window upgrade opportunity. an ai driven upgrade cycle ahead of us. that's reason to own apple, not sell it. when buffett talks, everyone listens no doubt, for good reason. but this is not the time to sell apple, despite, you know, some of the nervousness here. i think this is an opportunity, especially going in to what i view as really historic upgrade cycle for apple. >> we were talking to tom lee earlier in a sort of macro way about how things are headed and what may happen over the next month or two. his sense is you're never going to -- it might be hard to get real stability until october, so that even if you think the market rips in the next couple of days after falli

, jimmy buffett festival. when we come back, let's take a look inside the control room at 30 rock. tom llamas in for lester holt tonight on nightly news. one of the top stories how a flood victim's precious memory was lost and the surprising way it was returned. tom llamas joins us in about 3.5 minutes. pete g. writes, "my tween wants a new phone. how do i not break the bank?" we gotcha, pete. xfinity mobile was designed to save you money and gives you access to wifi speeds up to a gig. so you get high speeds for low prices. better than getting low speeds for high prices. right, bruce? -jealous? yeah, look at that. honestly. someone get a helmet on this guy. xfinity internet customers, get a free unlimited line for a year when you buy one unlimited line. bring on the good stuff. learn more at xfinitymobile.com today. unveiling a new highway sign. no check it out. key west. the jimmy buffett memorial highway buffett called key west home for many years, and it created many inspiring of his best known songs like

when you say, do exactly how buffett picks stocks and pick those names?nk i would, thank you for having me, liz. great to see you as always. i think i would go back to i think what buffett said during chairman greenspan's era if he said, even if he had the minutes, knew what the federal reserve was going to do it wasn't going to change his investment approach and his stock picks at that time. while it is interesting and fascinating to discuss whether we'll have 25, 50, 75 basis points of cuts, long-term investtores should focus on companies where there will not be a huge swing factor for them and perform in all market environments. liz: gotcha. >> i don't think the managers of the companies are say i will not release this new, amazing product because the fed will not cut 25 or 50. we take that approach. liz: your approach, three names, waste management, warner music group and ken view. what i find interesting, you saw warner music was mispriced. buffett was always looking for lower priced companies that are really owners in the world in which they operate

>> for buffett, buffett cut in q1, too.t is still his number one position by more than double over bank of america. clearly this is going to put gasoline on the fire in terms of worries in terms of overall tech. when you look at apple right now, they're going into what i view as the biggest a.i. driven super cycle in terms of the action cycle in last five years. we saw this bet on cook. it is the wrong time to get off the name in my upon. i get what buffett is doing with tax as he has been 100% right on tech. this is not the right time to sell apple in my opinion. we have been talking to investors and you buy apple on weakness today. >> dan, as we come into the start of the equity trade, what are you watching? if you take a step back and think about this, who is to blame for the selloff we are seeing right now? is it weak data or the fed or the tech ceos who got up on stage at the big events in leather jackets and promised us the world in a.i. and failed to deliver? >> i feel it is the yen carriage rate falling apart in ter

the other pillar of pain warren buffett selling bank of america and apple?'s the best he's the best there is some people looking at his moves and end up extrapolating to the point of absurdity and that's why they dumped the banks. it's why they dumped apple we heard it was based on apple's supposedly weaker chinese sales but ceo tim cook told me the sales were surprisingly strong and detailed why that was. for the rest of the week until we got a positive jobless claims number thursday morning we labored under the delusion that our economy was headed for a recession. worldwide recession all because of japan and the safest thing to do was to sell. it didn't matter that japan only bounced back 10% the next day. what matters was the smart money was getting out of the whole asset class and we felt like dopes hanging on in reality it was the dumb money that was getting out in part because warren buffett or one of his assists f sichbts made us nervous. of course we knew nothing about why he sold. maybe he was just ringing the register nobody cared it just made ever

buffett.ome on, guys. unloading more b of a shares, berkshire parsing its massive stake yet yet. although they have a lot of shares. >>> we'll have the latest read on the consumer, nordstrom, foot locker, pvh. >> i'm ready. you can hit me on that. >> i'm looking forward to hitting you on a lot. we'll start with nvidia, given it's due out after the bell, and we got a number of other earnings after the bell as well, jim, that are not insignificant, including salesforce. >> tonight is huge. >> give me your thoughts as we head in here. nvidia shares, you can kind of see what they have been doing over the last month. a nice move, and sort of hanging in there at that same level, let's call it, for the last few trading sessions. >> i think there's a couple pieces out today. i'll just put the whole thing in. the rubric is that the smart guys are selling, and retail is buying. that is the kind of thing i keep reading. why i'm disturbed by that is that smart guys have been selling the whole way. what ha

over the weekend warren buffett revealed he cut his apple holdings in half and he was a net seller of stock for some time, that is not send a positive signal. overnight japan's market dropped 12.4%, that is the worst one-day drop since 1987. here's where we are among the dow, the s&p and the nasdaq, the dow likely to be down about 1200 points at the opening bell in the nasdaq down a thousand, and percentage three or 4% down at the opening bell, all sectors have been hit, look at big tech all of them are down in nvidia is down roughly 33% from its high. heavy selling and crypto as well, if you look at bitcoin is down to 49000. way down, interest rates also falling sharply this may be a flight to shape into safety tenure dropping to 3.69%, the good news that mortgage rates are falling, the two-year all the way down to 3.80, now 3.71 ever heading to recession demand for oil should fall that's why oil is down $72 a barrel, gold approaching $2500 an ounce, it is down $50. ward talk in the middle east that's not helping an iranian attack is considered immediate and israeli has an undergroun

this is notable because buffett is known for holding on to stocks for long periods of time. analysts say the sell off could mean buffett is not confident in apple's growth. >> one of the most popular gay bars in san francisco hosted a ribbon cutting this weekend to celebrate its new renovations. the ribbon cutting for bow on market street yesterday featured several elected city officials and a private reception, where guests could enjoy the new dance floor under new lights, sampled the new cocktail menu and catch a drag queen performance. >> a san francisco neighborhood losing its beloved hardware store, glen park hardware is closing after 61 years in business and only six months after its most recent ownership. the glen park association says the store has not been the same since 2016, when the owners at the time decided to retire. well, since then, the store has reportedly had staff turnover and a lack of inventory. neighbors. are those sad to see it go, saying the store's closure will leave a hole in glen park's commercial corridor. >> glen park's got one of everything. >>

i know warren buffett is familiar with it. corner they go down, affordable luxury. lipstick. before the last recession you see an example of that. what do you make of warren buffett taking a big stake in ultra? >> one thing i love about the oracle of omaha is that he never gets ahead of himself, right? just follow the money and watch how consumers live and spend. better, the ceo of neiman marcus was the first person taught me as a little intern about the lipstick index. when things are bad, need to perk yourself up, buy lipstick. when things are great, go out to mitt hit the club, by lipstick. ulta is a great leader here. they have high-end stuff and short end stuff. target, i would not be short target but we would be much more structural when it comes to walmart, ulta situation. charles: i am stuck on alf. they're also in a lot of these stores. would you be abuyer of that. >> oh absolutely. i love elf. i love the story. if you're being hit, need to trade down, elf is waiting for your money, so take my wallet. charles: last ni

. >> a warren buffett's berkshire hathaway sold nearly half of its apple shares last quarter.hat's according to a second quarter earnings report that was released just yesterday. berkshire hathaway says its holdings in apple were valued at $84.2 billion at the end of the quarter, dropping from 790 million shares to 400 million shares. it's notable because buffett is known for holding on to stocks for long periods, and analysts say this selloff could mean that buffett is not confident in apple's growth. >> new rankings shows san francisco is in the top five most expensive cities in the world to live in. the number one spot going to geneva, switzerland, followed by zurich and then new york city. san francisco coming in at four, boston at five, los angeles was number nine on that list. this list was compiled by a cost of living database, which looked at rent prices of groceries and restaurants, as well as local purchasing power. >> well, a water main burst in a martinez neighborhood happened overnight near valley and truitt avenues, a few blocks from nancy boyd park. firefighters

buffett owns more t-bills than the federal reserve does. short-term investments and t-bills compared with 105 billion in t-bills as the fed owns. his company cash sits there, it's yielding around 5.2%. what does buffett's huge cash holdings say about his outlook on the market? joining me invest net solutions co-cio dana doerio. he has 375 billion in assets under management. a bit more than warren is holding in t-bills. dana it is less about that and more in my opinion about what we all can learn and maybe follow when it comes to his investing patterns? >> yeah, for sure and obviously he is a little different from all the rest of us because you know, he has been an investor who is also very involved in his investments in a different way than perhaps the retail audience we're speaking to, investors we're catering to via advisors. a different kind, warren buffett is involved inside these investments when he's, he's in an investment he is part of the investment versus the passive investors in the market. but i would say you know, to the extent

buffett did what i will humbly say that i do, when a stock hit your target, you sell half.he sold half of his position, to be clear, apple is still 30% of brookshire's portfolio. in other words it was up toward 60, he better be selling it, that is too big you never want to stock to be that big, i would argue 30% is too big and it probably ought to be better than ten, 11 or 12% if he really likes it. he put some of the money in his pocket and he said fine i have a big chunk of capital and i still own a lot of apple, what else can i buy especially right now that so many of these names have come down. neil: gentlemen a very balance read on all of this, we will talk later with robert prechter on january warned that we were getting a little too giddy i wonder what he feels like now, the man who really crystallize the whole elliott wave and markets move in sentimental ways is here in person. we look forward to talking to him, i'm happy to talk to him. if you think that the markets are looking to go to alternative investments and few and far between, bitcoin and some of the crypto

what would he tell warren buffett and others with a trillion dollars?ou will get his advice after this. ♪. [♪] can a personal loan unlock your ambitions? oh yeah. take a swing at your kitchen reno... we meant that literally. sofi personal loans. low, fixed rates. borrow up to $100k. no fees required. (♪) when you get your tools from harbor freight something about the job feels different - your wallet. whatever you do, do it for less, at harbor freight. save even more at our parking lot sale this weekend ♪(voya)♪ there are some things that work better together. like your workplace benefits and retirement savings. voya provides tools that help you make the right investment and benefit choices. so you can reach today's financial goals and look forward to a more confident future. voya, well planned, well invested, well protected. when people come, they say they've tried lots of diets, nothing's worked or they've lost the same 10, 20, 50 pounds over and over again. they need a real solution. i've always fought with 5-10 pounds all the time. eating all these

i love that warren buffett's in there. it's a good company. flow, 66% of their customers are enthusiasts and they make up 80% of their business. they have a strong brand i think it's an over saturated market you have sephora sitting in kohl's and massive global expansion there. retail sales this morning told us that consumers are just fine in spending, but also kind of on nondiscretionary i don't know what the catalyst is, and if i was in this stock 8% ago, it's actually still down 25% for the year or so i probably would take my gains and run. i'll look at it again next year. free cash flow is always good. >> why not all right, finally, we got your micro strategy shares are moving higher as defiance etf launches the first leveraged stock etf on micro strategy in the u.s. tell us about this new product and your thoughts on microsoft a single stock atf >> yeah, i love this it's 1.75, the daily performance of microstrategy the reason we launched this is twofold. one, it's the perfect cross section between exposure to ai and exposure to cryptocurr

i understand what tom is saying, i understand what warren buffett sees as well. i think banks have been rewarded over the last couple months probably in anticipation of what i don't think is about to come. >> all right. good discussion there. a little optimism maybe from tom saying we don't see the hard landing at all. >>> all right. on deck forget taco tuesday, we have got a buffet, not a buffett, a buffet of earnings rolling out, the names and moves ahead. crypto up again today. a lot more to do. you're watching "fast money." ♪ that colonoscopy for getting screened ♪ ♪ is why i'm delaying ♪ ♪ i heard i had a choice ♪ ♪ i know the name, that's what i'm saying ♪ -cologuard®? -cologuard. cologuard! -screen for colon cancer. -at home, like you want. -you the man! -actually, he's a box. cologuard is a one-of-a-kind way to screen for colon cancer that's effective and non-invasive. it's for people 45+ at average risk, not high risk. false positive and negative results may occur. ask your provider for cologuard. ♪ i did it my way ♪ t-mobile's 5g network connects a hund

people think oh, buffett is trimming. forget it. let's hear what you have to say?getting a discounted high energy company and solid balance sheet that still yields over 4%. i think over the long term energy will be in high demand, oil will be in high demand so we like having a stable company like chevron in the portfolio mixed other energy companies. liz: they do have a good yield. they do have a very solid management team and you look what they're doing, they're also expanding into other areas, correct? >> absolutely. i know it gets caught up in the acquisition of hess they are trying to do. however i think they have got long term positive growth opportunities. they have got assets throughout the u.s. and globally and oil production will continue to be a positive revenue driver for them. liz: let's, let's talk about what we, went into the commercial break saying, and that is while walmart is just doing incredibly w with the second best performer year-to-date on the dow. today it is the number one -- it got shifted aside by cisco, but it is up there, up 6 1/2%. we

. >>> and big moves by the likes of buffett, ackman and tepper and others cutting key positions and taking stake in names you know it's thursday, august 15th, 2024 you're watching "worldwide exchange" right here on cnbc ♪ >>> good morning thank you for being with us. i'm dominic chu in for frank holland this week. the s&p and nasdaq coming off the fifth positive session in a row. futures indicating it might be -- might be six the dow is implied by 85 points higher s&p up 4.5 points and nasdaq as high as 32 we are looking at the pre-market gainers. cisco getting a boost on the back of the earnings report and fresh job cuts nike shares rising following the stake from one high profile investor walmart shares are higher ahead of the earnings report later on this morning we have more on all of those stock stories coming up in the show we are checking on the bond market as investors prepare for jobless claims and sales data before the opening bell. the ten-year note yield is a hair over 3.84%. the two-year note yield at 3.96%. the 30-year long bond ticking higher at 4.129% u.s. oil prices coming

we will have a preview. >>> warren buffett selling more stock.kshire hathaway trimming more shares of its top holding. which one? we'll tell you. >>> and nfl holders letting more players into the club, with deep pockets, looking to spread the cash around the fielding. it's wednesday, august 28th, 2024. "squawk box" begins right now. ♪ >>> good morning, everybody, and welcome to "squawk box" right here on cnbc. we are live from the nasdaq market site in times square. i'm becky quick along with joe kernen. andrew is off today. all right. we're watching to see what's happening with u.s. equities. >> how does it happen>>>? >> that we match? >> yeah. it happens so often. is that orange? >> orangey. close enough. >> great minds. >> we did not plan it. >> i think it's evolution because we've been sitting together for your so long. >> yes. scary. work wife. >>> let's take a look at what's been happening with the equity futures. dow futures up by 25 points,

also strengthen homebuilders and banks and a shout out to warren buffett who is a berkshire hathawaynd hit a record on friday, buffett turns 94 on august 30 which is coming up in the stock market cap is approaching a trillion dollars and a great birthday present and it's only 2% away from that. >> i'm guessing he's blushing. >> e number is going to be nvidia earnings report on wednesday and nvidia is about whether tech stop in investors the earnings are supposed to be around 67 cents per share -- tears number of people interested in the resident expert on nvidia with bullish on a.i. and he likes what's going on with the stock. jack: we haven't heard a lot of details about the candidates economics plans, we have heard something about what kamala harris would like to do on housing. what's on the table what are the chances of a happening. >> i would like to say there's a ton of detail on the table. even with housing she's been more specific, we haven't quite narrowed it down all that much. the big issue that housing is unaffordable, everyone can agree on that. she is propose giving twit

warren buffett likes ulta, and what about the stock screams discount in value in the buffett sense?re the valuation of the stock is. it had been at $600 and today it is trading around 368 or $369. i think the category is still solid when you think about ulta, it offers goods in the mid to prestige price points. they just relaunched their ulta beauty line and investor day is coming up on october 16 where they will give out their long-term algorithm, footprint and physical locations are convenient. and now with a smaller box size of 5000 square feet we will have to see what the expanded potential should reach and the digital channel as an opportunity for them. it captures a grandmother, mother and daughter with services included like hair salons that brings people back. and let us not forget about the target partnership which has room to expand. it is and just in 500 stores. scarlet: that is a laundry list to light. warren buffett does not time his stock purchases because seeks out value. as we are headed for a period of uncertainty, you by the idea that when times gets tough they buy

.>> in the great to quote the greatest investor, oracle of home that, warren buffett who says in the times he advises investors to be greedy when preople are fearful selling off half of his apple stake, cashing up to 277 billion dollars, that tells you there has been a recent market peak. now if you look overall, and reframe, you are up on the year, the nasdaq is still higher. nasdaq 100, even the a.i. darling nvidia, doubleled your money this year despite the 30% decline you have seen over the past month. but investors tell me that right new this is about hedging grange the down sides, repositioning with a lot of uncertainty out there, whether it is over the election in november, whether it is over the japan or geo politics with iran/israel and impact on global oil price and commodities. >> neil: susan what is wild is what brought it on? it was an employment report that on the surface did show job gains not losses. 114,000 more jobs but the market was expecting more. that is very different than the melt down in the 2008 period, where losing close to 1 million jobs a month. what has

buffett is -- how old is he? 94? you think he's pulling back?en he names a successor, when -- let me analogize to elliott. because i know we have to talk about elliott and southwest. we don't necessarily think that everything that elliott has done is done with -- not without the authority of the top, but we do know that it's diffuse. the guy who has the letter sign at southwest is an actual portfolio manager. >> yeah, no, that's true. the activism, in particular, at elliott, i mean, it's run by jesse cohn, a long-time partner. >> i don't see jesse's name on this, but that doesn't mean jesse disagrees with it. >> but it goes up and everybody signs off on these things. you're not able to just go off and do whatever you want. i cannot imagine that the apple position at berkshire, even with mr. buffett about to turn 94 in a few days, august 30th, i cannot imagine that he would not have some say in that. >> well, let's say he had a say. the idea that the stock should drop dramatically on him having a say, i think, is going to turn out to be something

howard buffett, an american millionaire, i will say, by the way, that in buch, where i live, the buffettenovated a whole street that was destroyed, station street, now there a completely different look, and serhii paradzhanov also received the award, posthumously, of course, nina matvienko, her daughter also came posthumously to receive this award, and ihor poklad, an outstanding ukrainian composer, finally received his... his award, i will say that in there are many other people, of course, he is a hero of ukraine and a laureate of the shevchenkivsky prize, olga gerlan received, of course, definitely deserved her award, oleksandr usyk. i will say, to make it clear, here are these state awards, they challenge me, they give me...

total 11 outstanding figures, not only ukrainian ones, because the premiere... among them is howard buffettionaire, i would say , by the way, in buch, where i live, the buffett foundation renovated an entire street that was destroyed, the station street, now it looks completely different, and serhiy paradzhanov also received the award, posthumously, of course, nina matvienko , her daughter also came posthumously to receive this award, also ihor poklad, an outstanding ukrainian composer, finally received his... his this award, i will say that he has many other people, of course he is oleksandr usyk, hero of ukraine and laureate of the shevchenkivsky, shevchenkov prize, olga gerlan received, of course, definitely deserved her award. i will say, to be clear, here these state awards cause, it seems to me, sometimes even more irony than respect, because we see many... niks and the art sector and any other, who have the highest state awards possible in ukraine, but these people, to put it mildly, are not the heroes they deserve these awards, if we give any award that you don't take, almost any, t

, an american millionaire, i i will say, by the way, that in buch, where i live, the buffett foundation renovated an entire street that was destroyed, the station street, now it looks completely different, and serhiy paradzhanov received the award posthumously. her daughter came posthumously to receive this award, also ihor poklad, an outstanding ukrainian composer finally received his own, this award, i will say that he has many other awards, he is definitely a hero of ukraine and a laureate of the shevchenko prize. olga gerlan received, of course, definitely deserved oleksandr usyk received his award. i will say that, to be clear, we have these national... state awards, it seems to me, sometimes even more irony than respect, because we see many representatives of the art sector and any other, who have the highest state awards, which only it is possible in ukraine, but these people, to put it mildly, are not heroes, those who deserve these awards, if we and any award that... take almost any, there will be some number of dirty people , that is why there were cases when from such names d

warren buffett is rapidly selling off stocks american companies.ash in his berkshire fund jumped to a record. 277 billion dollars, just a quarter ago it was 90. baft, as they say in the market, went into cash, mainly at the expense of apple. berchsher's position in the apple company at the end of the first quarter was $135 billion, and now it is only $84. that is, the legendary investor sold more than $50 billion worth of apple paper in a short period of time. oron buffett is commonly called the oracle of isamaha, for his gift to see the future of the market. and judging by the actions. in his company he doesn’t see any investment ideas on us stock exchanges right now. at the end of the issue about currencies, the dollar exchange rate today is at around 85.70, the euro costs 92 rubles, 82 kopecks. that's all the economic news for now. novel! thank you very much, now to the latest messages. fsb officers detained a suspect in espionage in the zaporozhye region, residents of the region worked for the kiev regime, collected data on the deployment of ru

outstanding figures in general, not only ukrainian, because the prime minister is among them howard buffett, an american millionaire, i will say, by the way, that in buch, where i live, buffett's foundation renovated an entire street that was destroyed , vokzalna street, it looks completely different now, and serhiy paradzhanov also received the award, posthumously, of course, and nina matvienko , her daughter, also came posthumously. to receive this award, also ihor poklad, an outstanding ukrainian composer, finally received his own, his own award, i will say that he has many other awards, of course, he is a hero of ukraine and a laureate of the shevchenkivsky prize, olga gerlan received, of course, definitely deserved her award, oleksandr usyk. let me say, to be clear, here we have these state awards, they cause, to me... it seems, sometimes even more irony than respect, because we see many representatives of the art sector and any other, who have the highest state awards, which only possible in ukraine, but these people, to put it mildly, are not such heroes, who would deserve these awar

. >>> as we head to break we wish warren buffett a very happy 94th birthday.he legendary investor, an early present. berkshire hathaway topped $ trillion in market cap. one of serve's u.s. companies in a very exclusive club and the only non-tech stock in that club. berkshire on a roll with class a shares up nearly 30% over the past year. warren buffettal stake in the company 15%. worth $145 billion. many happyetns. rur >>> we're back in just one minute. (vo) what does it mean to be rich? maybe rich is less about reaching a magic number... and more about discovering magic. rich is being able to keep your loved ones close. and also send them away. rich is living life your way. and having someone who can help you get there. the key to being rich is knowing what counts. craig here pays too much for verizon wireless. so he sublet half his real estate office... [ bird squawks loudly ] to a pet shop. meg's moving company uses t-mobile. so she scaled down her fleet to save money. and don's paying so much for at&t, he's been waiting to update his equipment! there's a s

taking the opposite tact that warren buffett was taking. >> true.this morning with the first results of medicare's negotiation on the price of key medications. we'll ask those details after the break and speak with the administrator of medicare and medicaid services. stay tuned "squawk box" will be right back. >>> we have news out from the white house. result of the first medicare drug price negotiation bertha coombs is here with a look how drug price plans will change next year for beneficiaries and insurance companies. >> that's right. big changes coming administration touting $6 billion in savings when those new negotiated prices go into effect, but that's not until 2026 there william some fundamental changes to medicare part d under the i.r.a. that could raise costs in the near term next year out of pocket costs for part d beneficiaries capped at $2,000, which hss estimates will save patients $7.4 billion next year. under a new program also be able to smooth out their drug costs over time. kind of like buy now, pay later. that extra coverage wil

we need to look apple because the selloff has a big star, warren buffett knife can cut both ways. "after the bell" on friday for an berkshire hathaway revealed a cut it's taken iphone maker by nearly half going from $135 billion stake down to 84 billion this is a lesson in discipline profit-taking, buffett began amassing his stake in 2016 with a cost basis of $34 a share, ran all the way up, now it's at 205. he was sitting around in the last couple weeks thinking i need to take profit all of this looks heinous especially the 1047-point drop in the dow but if you want to see the biggest sign that the patient brought in kicking and screaming yelling cell has been restrained or subdued wall street sphere index right before the market open shot up 181% to 67 that would be the largest gain in history right now it came down still at 53% but stands at 35 let's bring into big voices to help us understand and digest all of this and make the right choices, j.p. morgan global market strategist just family and global investment strategist. how do the markets go from all in equity riding aroun

judy: the buffett rule states no household earning over $1 million should pay a smaller share of theirle-class families. we are in the middle of a presidential campaign. do you think because of that, things could get worse? or could they get better? what do you think? >> well, i'm hoping not. you know, i don't know. and i hope, you know, both presidential candidates realize the jazzing up the american people, making the american people angry is not a good thing to do. judy: and yet that language persists on the campaign trail. >> you know it, you feel it. these guys are creepy, and just weird as hell. that is what you see. judy: but much of the vitriol is coming from donald trump. >> so now we have a new victim to defeat, lyin' kamala harris. lyin'. lyin'. judy: do you think it's time for people like you to say to to him and to others, let's stop this. >> i don't like any of that stuff. i'm not going to talk about particular people. i personally don't like it, and i don't think it works. even when you use the term maga, you are insulting 74 million voters. they have different opinions.

and all of this coming as warren buffett, the oracle of omaha, one of wall street's best known names,got it. >> yeah, happy birthday, one could say. cnbc's dan murphy live from london, thank you. >>> still ahead, the congressional task force investigating the assassination attempt on former president trump has put in a slew of new records requests from multiple federal organizations. we'll talk to a member of the task force, congressman madeleine dean of pennsylvania. "way too early" comes right back. of pesylvania "way too early" comes right back o) switch to the partner businesses rely on. (restaurant noise) allison! (restaurant noise) ♪♪ [announcer] introducing allison's plaque psoriasis. she thinks her flaky, gray patches are all people see. otezla is the #1 prescribed pill to treat plaque psoriasis. over here! otezla can help you get clearer skin and reduce itching and flaking. with no routine blood tests required. doctors have been prescribing otezla for over a decade. otezla is also approved to treat psoriatic arthritis. don't use otezla if you're allergic to it. serious allerg

despite if warren buffett dumping almost half of his apple shares this year, over $70 billion worth, apple's still holding up this week, and that's because when buffett sells, index funds have to buy in order to mirror the index, so buffett hasn't sold much apple since 2016, and there's that strange dynamic on the market. this week's extreme volatility where you have one session as the worst in two years, then another that's the best in two years, that type of volatility is expected to be with us until the end of this year. next week two things that could shake up momentum, you have that inflation cpi report. walmart if earnings and then later on this month nvidia earnings on the 27th and jackson hole and the federal reserve later on on august 22nd. neil, wall street's still betting there's a greater than 50% probability, more than half, that we'll get a jumbo 50 basis point rate cut in september. neil: you know, it is weird, i mean, that betting has gotten so strong now that you wonder if they don't get that half a point cut, you know, are they going to have a temper tantrum. we'll

something called that buffett indicator that you used to talk a lot about on your shows, is at levelsen before in terms of the market being overvalued. if you believe him on the way up when he owns things, you have to take his word when he starts to move down, and seemingly prepare for a bit of a rainy day. >> dan, what do you think about affirm? >> um, you know, buy now, pay later, is it tech, is it banking? to me, they might see a lot more uptake, if they definitely, you know, if they see a slowing com economy for their products. but not particularly interesting business model to me. >> do you have a thought, does anybody have a thought on what buffett -- back to your point, on what, if anything, buffett is saying via his actions and the amount of cash he's holding? >> what you pointed out what mike santoli said makes a ton of sense. if he wants to free up the flexibility for that cash hooar for whoever takes the torch when he steps aside. that would give them the flexibility to buy what they want to leave their fingerprint on the fund the companies that reflect future versus going

warren buffett's berkshire hathaway sold nearly half of its gigantic apple stake earlier this year.stor, who is famously focused on long term gains. according to the company's earnings, its holding in the iphone maker was valued at $84.2 billion at the end of the march tojune quarter. that would mean it offloaded a little more than 49% of its stake. we are keeping a close eye on markets here in asia which have just opened after the big sell—off in asia last week, especially in tech stocks investors are concerned about the health of the us economy after the jobs report last week and actually activity fuelling fears of recession as well. we will keep a watch on that. here is a special report. scams seem to be everywhere nowadays. a bbc reporter has been given an insight into one type of financial scam — �*pig butchering' — where victims are romantically befriended on social media and then tricked into investing in fake crypto schemes. cyber correspondentjoe tidy was targeted on instagram and played along for more than two months to find out what psychological tricks the scammers emplo

buffett might have -- it -- he might have been a beta tester. he might have said, you know what i mean? this is not good. and they're pushing out a lot of those offerings, so, to me -- i don't know. >>> do not miss a cnbc special on today's major market selloff, that is tonight, 7:00 p.m. eastern time, right here on cnbc. >>> coming up, japanese stocks plummeting. what it means for global markets an the understood winding of the yen carry trade. >>> plus, a huge spike in the vix touching its highest levels since the pandemic. how options traders are handling the volatility ahead. "fast money" is back in two. ( ♪♪ ) morgan stanley is partnering with the women's tennis association to remove boundaries... ( ♪♪ ) because this game is for everyone. 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 (reporters) over here. kev! kev! (reporter 1) any response to the tradetion. rumor

the most seasoned shark of the financial world, warren buffett, whose conglomerate's cash is a record 277 billion dollars, sensing something was wrong, he left the shares of apple and bank of america. the oracle of omoha was not just preparing for deep market decline, but in a sense it also helped push it along. the wall street journal explains what happened this way: financial losses swept across europe and the united states as investors dumped riskier assets. in the united states, the decline. monday's market crash raises both the risks of a recession and a more dire financial-market disaster, but for federal reserve officials, the outlook will likely have to get worse to prompt a larger response. the brunt of the stock market panic has been borne by high-tech companies. struggling with artificial intelligence. locomotives may slow down, which will inevitably slow down others. investors are overestimating the risks of a global economic collapse, but their fears could become a prophecy if central banks fail to contain the consequences of the sell-off. a slowdown in the american econo

non—technology related company to do so, joining the likes of microsoft and amazon.shares of the warren buffett—led higher in new york.mr buffet is credited for transforming the once failing textile maker into an investmentjuggernaut. the boss of ryanair says passengers should be limited to two alcoholic drinks at airports. michael 0'leary said this will help tackle a rise in disorder on flights.he told the daily telegraph that violent outbursts were occuring every week due to alcohol, especially when it is mixed with other substances. staying with the aviation industry, australia's national carrier qantas has just released its latest report card.it posted a i6% drop in annual profit, due to rising fuel costs and lower fares. just earlier this week, the airline made headlines for mistakenly selling first—class tickets at a steep discount to hundreds of customers. qantas has since refunded or downgraded passengers affected by the mishap.>brendan sobie from sobie aviation told us the results weren't surprising. we are seeing this across asia—pacific with international market starting to soften. so no