also ahead, charlie munger.interview with the vice chairman ahead of their meeting as becky and andrew will be in omaha. take a look at this morning's early movers. >>> the jobs report is out. april non-farm payrolls increase by 165,000 jobs. were you able to nail the number? if so, you'll be the winner of the cnbc water bottle signed by the entire "squawk on the street" gang. find out if it's you later this morning. [ male announcer ] you are a business pro. omnipotent of opportunity. you know how to mix business... with business. and you...rent from national. because only national lets you choose any car in the aisle. and go. you can even take a full-size or above. and still pay the mid-size price. i could get used to this. [ male announcer ] yes, you could business pro. yes, you could. go national. go like a pro. >>> the do is within 22 points of 15,000 upon. every single component is in the green, the worst pf her forming components have the best yield, guys. altria at 4.8, at&t at 4.8. >> that's what we wan

i will catch one charlie munger. if you want to follow along with what we're seeing, follow us @beckyquickcnbc an and @andrewrsorkin. warren buffett joining us live monday 6:00 a.m. eastern time. 8:00 a.m., we will be joined by microsoft founder bill gates. a lot of conversation, a lot of things to talk b. andrew, have a safe flight out here. >> thank you. i will bring a coat. we will be watching throughout the day. >> joe, did you come up with your horse yet? >> are you leaving? >> orb. >> i'm not going to pick a favorite. i don't know yet. and i was thinking about revolutionary. and i think schactman picked that. >> what about the one that sounds like venezuela? >> or a phone company. >> i'm going with verizano. >> we will see you in a little bit. >> the final countdown to the april employment report. one last look at our panel's predictions before the numbers hits the tape. don't go anywhere. "squawk" is coming right back. [ agent smith ] i've found software that intrigues me. it appears it's an agent of good. ♪ [

it appears to be a billionaire saying that, nevertheless, charlie munger says he still does not get it. the fact is they think, many can and should pay more. >> he has been saying this for 4 years, he want the bust buffett rule, 30% capital gains tax, and. neil: higher than obama took it. >> there is a fix going on, as you know we have the corporate income tax, how does warren buffet make his money, he owns companies and pay the tax, actually rich do pay a very high percentage tax. if you look at numbers that government puts out every year, top .01% pay a higher tax rate than a middle income, he said, i pay a lower tax rate than my secretary, that not really true. but,. neil: my bigger question to you is, at what point, have we satisfies to demand rich pay more. >> i am a flat tax guy, i want to get rid of loopholes deducts let's have steve forbes, 19% tax rate people like, warren buffet can hide their income, one thing that who eithers me is what bothers me, warren buffett pontificates, he takes advantage of one of the biggest dodges in tax history in terms of giving his money away to

. >> that was charlie munger who sat down with us on friday. we are live in omaha with berkshire chairman and ceo warren buffett. you heard charlie's comments. it started out with bankers and ended with what he thought about cyprus and europe. over the weekend, you disagree a bit about the state in europe just in terms of how great of an investment it may or may not be right now, how safety of an investment it is. you talked about how you see things -- you would potentially be interested in a deal coming out of europe right now. >> in the last 12 month, we bought a couple smaller businesses in europe. we bought some european stocks. and the fact that there are krubls in europe -- and there are plenty of troubles and they're not going to go away fast does not mean that you don't buy stocks. we bought stocks when the united states was in trouble in 2008 and it was in huge trouble and we spend 15.5 billion in three weeks between september 15th and october 10th. it wasn't because the news was good. it was because the prices were good. and if you bel

liz: charlie munger says it's exxonmobil.the country were run like exxonmobil, we would have a way better organized government and country. >> i think that's a great example. i think the procter & gamble management team of the past -- liz: i was just going to say, they booted them, but are you talking about a.j.? >> a.g. coming back may be wonderful for the company. liz: fascinating. thanks so much, jim. we're going to put jim's stock picks up on the web site, facebook.com/lizclaman. closing bell ringing in eight minutes. we're watching all those companies in the s&p 500 that are reaching not just yearlong highs, 52-week highs. and on your screen right now we're keeping an eye on that tornado warning that is out right now for parts of central oklahoma and wisconsin. there is a storm cell hovering over the region that is worrisome to the experts here. so we're watching it closely. take cover, they say, if you are in the area of central oklahoma. ♪ ♪ this is america. we don't let frequent heartburn come between us and what we l

national top business schools in the conversation all via satellite and got to ask warren buffett, charlie mungernd the newest ward member some questions. let's listen to the responses they gave. >> i'm from colombia business school, my question is how is your investment strategy and the performance of your businesses affected by prolonged, pro-interest-rate environment and how are you positioned now for interest rates to increase or remain low? liz: you know eventually they will tighten. >> i don't know when that will happen. certainly low interest rates have helped our business, they helped the economy, they hurt savers relying on fixed incomes to help investment. overall the policy has been found, there is no question berkshire hathaway is better off today. the american people are better off today because of the absence of ben bernanke. liz: what you think of the good old single-family dwelling as an investment these days? >> i said a year ago i thought it was a very good investment for people who knew they were going to live in that house for a considerable period of time. buy a house they li

this is where warren buffett and charlie munger will be sitting on stage in front of 40,000 shareholderse arena. this place will be packed to the primary tomorrow. it's the expectation. it's what's happened the last several years. this is a really big deal. i know this is officially starting tomorrow. but guys, i want to tept you, the hotel res already crowded. the airports are very crowded. the flight was full yesterday. there's the festivities that have begun every year. warren buffett goes on thursday night and plays bridge with his bridge club.

and alan, i know you have no influence over charlie munger whatsoever, but i think you can tell the feelingshould be regulated. if you think it's regulated do you think it would help or hurt your business? >> you know, i think we're just acting as a middle man, just facilitating interactions between buyers and sellers in the high end market. this has to evolve and we'll see where it goes and we'll keep a close eye on it. but bitpremier was created to fill the void in the marketplace is evolving. there hasn't been a high end centralized marketplace for these. and the buyers are up to a new offer. >> i want to make sure that i've got to right. you run a website that connects buyers and sellers of luxury items and the currency of exchange. we've got some fancy cars and yachts on the screen in a moment and the currency of exchange using your website is bitcoin, is that correct? >> that's correct. >> we transact only in bitcoin. >> i don't know how you conduct business because as i see it, bitcoin was worth $266 for one bitcoin, $266 and then it was 50 bitcoin, $1-- 50 for one bitcoin and then $

meanwhile, buffett's right hand man, charlie munger, spoke to becky, the berkshire vice chairman knownomments weighed in on the recent debate about high frequency trading. he called it legalized front running and he said it never should have been allowed to reach the size that it has. >> well, any long-term investor is not much effective about things like the flash crash. that said, i think it is very stable for half the trading is a bunch of short-term. people trying to get information. now ahead of somebody else. >> now, the comments come as wall street looks back on the third anniversary of the flash crash when a technical dlirchb essentially triggered a dramatic fall in stocks thigh years ago today. the dow joins industrial average recorded its biggest one-day decline losing and regaining about 600 points in a matter of minutes. remember? it was nuts. joining us now from new york is erik hunts data, also at cnbc's headquarters, edgar pers joins us. he is the author of "speed traders." gentlemen, welcome. let's start with you. do we need high frequency trading? is it a good thing fo

with just 15 people in a local cafeteria, and back then it was warren buffett and his vice chair charlie mungerey were best friend for decades. they disagree on certain things. we had a rare moment to get them to walk them disagree in a fox news exclusive right here at warn's building this morning and we watched as they discussed corporate taxes, they are on either side of this one. listen h. >> well, i think it's a disadvantage to have your tax rate less than the tax rate elsewhere in the world, and so i don't think we are in total control over our own tax rates, meaning i think we should -- i i think it would be crazy to have a tax rate in the united states 50% and have it 20% generally throughout the rest of the world. i am all for higher taxes, they should be on individual and consumptions and so on. i like a lower corporate tax rate. >> do you think it should be considerably lower? >> no, no. >> sph warn, do you disagree? >> yeah, interestingly charlie and i have disagreed on lots of things. we've never had an argument in over 50 years. we do disagree sometimes, and u.s. taxes are -- corpo

we're bringing in charlie munger, good morning. >> good morning liz: i want your thought on bitcoin, might be the next big thing. what do you think? >> i think it's rat poison. [laughter] >> put him down as undecided liz: do you understand what they're trying to do with it? >> no, but i record it as deeply flaky liz: what do you think, bill? >> it's a techno tour deforce. that's where the government is going to retain a dominant role liz: warren? >> i think that either bill or charlie is right liz: one thing i noticed at the meeting, you and warren disagreed on a couple of issues, but the one that struck me the most was the corporate tax rates. warren feels that corporations should be taxed more, they have the money. you say no. why? >> well, i think it's a disadvantage to have your tax rate less than the tax rate elsewhere in the world and so, i don't think we're in total control over our own tax rates, meaning, i think it would be crazy to have a tax rate in the united states 50% and have it 20% generally throughout the rest of the world liz: do you think-- >> and i'm all for highe

we'll be on stage asking questions of charlie munger and warren buffett.t your question considered, e-mail us. my address is berkshirequesti berkshirequestions@krnsz.com. ameriprise advisors can help you like they've helped millions of others. to help you retire your way, with confidence. ♪ that's what ameriprise financial does. that's what they can do with you. let's get to work. ameriprise financial. more within reach. help the gulf recover, andnt to learn from what happenedg goals: so we could be a better, safer energy company. i've been with bp for 24 years. i was part of the team that helped deliver on our commitments to the gulf - and i can tell you, safety is at the heart of everything we do. we've added cutting-edge safety equipment and technology, like a new deepwater well cap and a state-of-the-art monitoring center, where experts watch over all our drilling activity, twenty-four-seven. and we're sharing what we've learned, so we can all produce energy more safely. safety is a vital part of bp's commitment to america - and to the nearly 250,000 p

important questions that's been asked of cass for asking it and i give credit for warren buffett and charlie mungerng it head-on. buffett's been talking about this for 15 years and he even talked about the it back in the days when he was running a partnership and how hard it is to grow when it gets bigger. that's the slowdown that i pay more attention to. >> jeff, i know you also noted that he did not give a particularly good answer. i thought that was the most disa point answer the whole day and he was caught flat footed on it and he oifred himself as working for microsoft and in the interest of full disclosure. i think ibm will do well and he didn't answer the question is what is ibm's compet of float. rising margins which hursts customers, right? and a lot of alternatives to what ibm does out there. that's a big question mark and clearly buffett wasn't on his game with that one. >> we had the discussion this morning about succession and not in that his fund managers can't or aren't as smart as warren is or are as capable of running a fund or some pile of money, but there is some hard to dwaunt p

charlie are pinching themselves. they are so excited about how well many of berkshire's businesses are doing and it's beyond their wildest dreams. i still think that buffett and munger are at the top of their game. i love it that they have the cash. the businesses are doing fine and quite frankly, we just don't think the valuation is stretched here. >> berkshire is the monster cash flow machine it's always been. decentralized and bubbling up cash from the bottom and it looks perfect to me. >> still, there's been a course of criticism about the ample cash in berkshire's war chest. almost $50 billion of untapped money and heinz was the only large acquisition this year. no wonder there's so much talk about a dividend, but buffett is reluctant. >> we think that reinvesting a dollar creates more than a dollar value and if that's the case people can do better since significant premiums of those dollars. >> that's okay with shareholders. they own berkshire because they believe in the oracle of omaha. >> we've done it for 60 years. can't argue with success. >> i am very impressed with warren. i like his down to earth style. >> but as for doug cass, he's still bearish on ber