our becky quick has more on the life and legacy of charlie munger. >> charlie munger was best known asarren buffett's right-hand man, their investment partnership dating back decades. >> i would say every time i'm with charlie, i've got at least symptomatic new slant on an idea that causes me to rethink certain things, and we've had absolutely -- we've had so much fun in the partnership over the years. >> it's been almost hilarious, it's been so much fun. >> buffett credits him for teaching him. >> when he would lead me away from buying very so-so prices at very cheap prices knowing there was some o profit if there it and look at wonderful businesses. >> it's not that much fun to buy a business where you really hope this sucker liquidates before it goes broke. >> the willingness to pay for quality paid off and deals like their 1972 purchase of see's candies and their decision in the late 1980s to buy a substantial stake in coca-cola. before his investment days, munge mo munger owned his own investment company and a law firm. munger like buffett grew up in omaha, nebraska, and as teenag

in case you are just tuning in, we want to let you know that charlie munger has died. ormer berkshire hathaway vice chairman. he was just under a month away from his 100th birthday. cnbc will have continuing coverage on munger's life and massive impact on the investing world on "mad money" and "last call." it's time for the final trade. let's go arneound the horn. julie? >> i tried to think of the highest quality business and vrsk is probably one of them. >> carter? >> gold or silver or both, precious metals. >> dan? >> yeah, i like julie's moelis call. they had $5 in 2021. if the cycle turns, they're going to look really cheap. >> dan likes it. guy? >> first of all, great to have eunice here and we were saying off, she should be nominated and/or win a peabody award. from 2021 '22, incredible, great to have her here. rest in peace mr. munger. condolences to everybody at berkshire hathaway and the family. agnico-eagle mines. >> thank you for watching "fast adon" th "m meywi >>> my mission is simple. to make you money. i'm here to level the playing field for all investors

on charlie munger, getting the odds on your side. how did charlie munger get the odds on his side?partner. he intensively studied financials. he held for many years. he was a great practitioner of sit on your hands and he did up flawlessly. tom: in the modern day i remember reading this annual reports and there was no financial media, no blogging internet. what is the lesson of charlie munger's long-termism? howard: if you want to hit the long ball you have to be patient. when the stock goes up 20% you can't start taking profits. they would hold things for decades. and charlie always talked about this. you have very few men shots. charlie said within the last year that most of his wealth came from for decisions. what if he started changing those decisions early? he went out of accomplish 20 dead and i think warren would say the same thing. warren is famous for having said put all your eggs in one basket and watch the basket closely. the idea of concentration in patience, coupled with good decisions. concentration of patients don't mean anything if you can't make above average inves

an early fed rate cut and charlie munger's death at 99.inally panama being poised to -- a copper mine. coming up, we'll bring you more on the life to have investment titan. charlie munger. the alter ego to warren buffett. he died at age 99. that is coming up next. this is bloom ♪ lizzy: welcome back to bloomberg daybreak europe. sad news overnight. berkshire hathaway has announced the death of long time chairman charles munger. he was 99 years old. warren buffett said his inspiration, wisdom and par e i guess the paition helped shape its life. for anyone unfamiliar what was so special about charlie munger that made him warren buffett's right hand man? >> he really was an architect. also in shaping this firm and taking it from the moment that he and warren buffett met at a chance encounter in omaha in 1959 to one of the most successful conglomerates in american economic history. what he really did here is sort of helped shape warren buffett's thinking moving him beyond looking for cheap companies to looking for wonderful companies at fair p

dom, thank you very much. >>> legendary investor, long time berkshire hathaway vice chair charlie mungerage of 99. he and warren buffett had a decades long partnership at the conglomerate and munger act as a sounding board offering analysis on the pros and cons of potential deals. i spoke with munger two weeks ago for a special we were planning to mark his 100th birthday about what he made of berkshire's huge growth, the company's market cap is around $800 billion, and here's what charlie had to say. >> i did not anticipate -- we were starting with a little piddly start that we would get to 100 billion. >> what led to that success? >> we were given a much longer time to run than most people because something kept us alive to our 90s and that gave us a long track from our little start all the way to the 90s. those the are two things that really happened. and, of course, we wised up over time. we got into better and better companies and understood more and more of the bad things that could happen. >> i think back in 2015, for the 50th anniversary of berkshire, you wrote in the shareholders

becky quick looks back at his life and legacy. >> charlie munger was best known as warren buffett's right-hand man. >> i would say every time i'm with charlie, i've got some new slant on an idea that causes me to rethink certain things. we've had absolutely -- we've had so much fun in the partnership over the years. it's been almost hilarious it's been so much fun. >> buffett credits him for teaching him. >> when he wielded me away from the idea of buying very so-so companies at various prices knowing that there was some small profit in it and looking for wonderful businesses we could buy in -- >> it's not fun to buy a business where you hope this sucker liquidates before it goes broke. >> reporter: it paid off for them like their purchase of see's candies and their stake in coca-cola. munger had owned his own investment firm and practiced law. in 1962 he and a group of attorneys founded the group, a very prominent lawmaker. munger like buffet grew up in omaha, nebraska, and as teenagers, they both worked at his grandfather's grocery store. it wasn't until munger was in his mid-30s and buffett

buffet earned munger to trade a career in law to one in investing. >> i met charlie and he was practicing law. i said it was okay as a hobby but it was a lousy business. >> fortunately, i listened. >> reporter: from 1962 until 1975, munger's investment partnership produced a 19.8% compound annual return, versus just 5% for the dow. it wasn't until 1978 that he joined berkshire as vice chairman. but his risk averse and pragmatic approach to investing was a major influence on buff fret the time they first met, helping berkshire hathaway grow into a multibillion conglomerate. munger, however, didn't limit himself to just berkshire. he was chairman of westco financial until it was assimilated into berkshire. he was known for his straight shooting style and dead pan humor where he interacted with his investors. munger then moved the show and his growing collection of fans to another company where he remained chairman. the daily journal. >> charlie? >> yeah. >> one of my favorite lines from you is you want to hire the guy with the iq of 130 that thinks it's 120 and the guy that has an iq of 150

charlie munger, the side wick for warren buffet, is dead. almost 60 years they transformed birkshire hathaway. the two of them quickly became multibillionaires. but, you know, warren buffet himself said that birkshire hathaway could not have been built to its present status without charlie's inspiration, wisdom and participation. i remember matter a chat with charlie munger. he was brilliant. there was no doubting that. for warren buffet to say he could have not had the success he did without charlie munger at his side, it says a lot right there. keep you posted on that. we don't know exactly from what he passed. he was at a financial function in which he warned the markets can fool you. he built a life on that. he would just zig and zag with the best of them. there's some good news. we get all of this horrific stuff out of israel and the release of hostages including abi abigail edan. i apologize to the great aunt that joins us now. liz, thanks for joining us. how is she doing right now? >> abigail is free. she's with her family. she's with

. >>> remiembering charlie munger. . so if you're frustrated with occasional bloating... ♪♪ [stomach noises] gas... or abdominal discomfort... help stop the frustration and start taking align every day. align probiotic was specifically designed by gastroenterologists to help relieve your occasional digestive upsets. so you can enjoy life. when you feel the signs, it's time to try align. there's challenges, and i love overcoming challenges. ♪ when better money habits® content first started coming out, it expanded what i could do for special olympics athletes with developmental needs. thousands of bank of america employees like scott spend countless hours volunteering to teach people how to reach their financial goals. it felt good. it felt like i could take on the whole world. >>> the business world is remembering a giant of investing in warren buffett's right hand man. the legendary charlie munger died at the age of 99, just a month shy of his is hu100th bir. actually, we don't have karen right now, we're waiting on that

we are going to have mucmore on the life and legacy of charlie munger in a cnbc special "charlie munger: a life of wit and wisdom" tonighat 8:00 p.m. eastern here on cnbc. i hope you'll watch that and think about those words that brad gerstner shared with all of us. ahead, we're tracking the trades. visison making new moves in his portfolio coming up. i think i'm ready for this. heck ya! with e*trade you're ready for anying. marriage. kids. college. kids moving back in after college. ♪ finally we can eat. ♪ you know you make me wanna...♪ and then we looked around and said, wait a minute, this isn't even our stroller! (lghing) you live with your parents, but you own a house in the metaverse? mhm. cool...i don't get it. here's to getting financially ready for anything! and here's to being single and ready to mingle. who's ready to cha-cha?! ♪ yeah, yeah ♪ (sfx: stone wheel crafting) ♪ the biggest idea inspire new ones. 30 yea ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ >>> we're back on "halftime" and i'm silva

i believe it's at 8:00 p.m., the life and times of charlie munger.er. >> yes, yes. >>> "closing bell" starts right now. >> thanks. i'm scott walker from post 9t the new york stock exchange and we're moments away from the delivery of tesla's very first cyber truck. we'll show you live when it happens. meantime this make-or-break hour begins with a final day this month for stocks. we'll ask our experts over the file stretch. your scorecards with 60 minutes to go. dow getting a lift, 400 points. a lot of it sales force and

tomorrow on cnbc, catch charlie munger, a life of wit and wisdom at 8:00 p.m. turn our attention to "final trades." >> you know, they reiterated revenue guidance for next year. i don't think it's doing quite well. >> sticking with gm. you have a catalyst here, so you own it, you could buy it now again. >> kerry? >> american express. it's continuing to benefit from millennials coming into their network, and with lower interest rates, it's good for their earnings. >> joe, last word. >> kkr. the stock is breaking out. november of 2021 highs. i think those are in play. it's hard to find a financial company where you can say that november '21 highs are in play. >> why is it up 6.5% now? >> the stock has performed well off of earnings. they have been active in a lot of deal making and m&fx. operational efficiency. >> taking a look, just a short time ago, the dow was at session highs. the s&p and the nasdaq both up just about a quarter of a per sent. that's going to do it for us. we have "the exchange" starting right now. welcome to "the exchange." i'm kelly evans. th

charlie munger was 99. >>> mark cuban is leaving "shark tank."ason, the show's 16th season, will be his last. he says he loves the show, but wants to spend more time with his teenage children before they leave for school. we'll miss him. >>> when we come back tonight, what dolly parton just achieved, with your help. and she's not going to text about it. . she found it. the feeling of finding the psoriasis treatment she's been looking for. sotyktu is the first-of-its-kind, once-daily pill for moderate-to-severe plaque psoriasis for the chance at clear or almost clear skin. it's like the feeling of finding your back... is back. or finding psoriasis can't deny the splendor of these thighs. once-daily sotyktu is proven to get more people clearer skin than the leading pill. don't take if you're allergic to sotyktu; serious reactions can occur. sotyktu can lower your ability to fight infections including tb. serious infections, cancers including lymphoma, muscle problems, and changes in certain labs have occurred. tell your doctor if you have an infect

i believe it's at 8:00 p.m., the life and times of charlie munger. there were some long times for charlie munger. >> yes, yes. >>> "closing bell" starts right now. >> thanks. i'm scott walker from post 9t the new york stock exchange and we're moments away from the delivery of tesla's very first cyber truck. we'll show you live when it happens. meantime this make-or-break hour begins with a final day this month for stocks. we'll ask our experts over the file stretch. your scorecards with 60 minutes to go. dow getting a lift, 400 points. a lot of it sales force and unh as well. take a look. otherwise it's been tough to get going. we'll see what we do here over the last hour. that's despite the job else claims ticking higher, the fed's inflation measure, the pec line in line with expectations. that's what you had to work with today. yields, well, ey're moving a little bit higher. still, 435 on the 10-year takes us to our "talk of the tape." what area of the market will work better in the new year after two famed investors give their own differering view

remembering charlie munger, warren buffett's business partner for 65 years.e passed away yesterday at age 99, one month shy of his 100th birthday. our becky quick sat down with him a couple of weeks ago and she joins us with more. >> david, looking back and remembering charlie munger, it's tough to overstate his importance to berkshire hathaway. he was friends with warren buffett for 65 years. he didn't officially join as somebody involved as vice chairman until about 1978 but his input stretched back a lot longer than that. he's credited with expanding the way buffett thought about investments. instead of thinking about bad businesses for cheap prices to picking up great businesses for fair prices. you all talked about that today. and two weeks ago i sat down with charlie to talk about his life and times. he was going to turn 100 on january 1st. and we were putting together a longer special report about his 100 years. during that time i got to talk to him a little bit about how he and warren buffett built berkshire into the company it is today. >> warren and

charlie munger, right hand man of warren buffett has died at the age of 99.ry life and career at both business and investing. >> charlie munger was best known as warren buffett's right-hand man. their investing partnership dating back decades. >> i would say that every time i'm with charlie i've got at least some new slant on an idea

we remind to you tune in tonight to cnbc to see our final interview with charlie munger. siness partner warren buffett munger began giving his fortune away years ago pointing out worth tense of billions more if he hadn't. munger gave great sums to higher education. $133 million to the university of michigan. more than $160 million to stanford university, and over $125 million to the university of california santa barbara. >> all i had to do not give away the purchase stock given to the universities. >> do you wish you hadn't given it away? >> no, no. i don't like crazy leftism as far as colleges and more suspicious about capital ism with -- removed. it's dangerous. you know, the word for -- capitalism. the engine is the hardship. basically saying to a 17-year-old kid when he graduates from public high school, give you the high road to the kingdom, george. good-bye. and there he is. he can either behold us or go to work somewhere. that's our system. you go to college or you go to work. absolutely required. it's a tough -- it's a tough-love system. i'm not sure that capital

charlie munger, the vice chairman alongside warren buffett at the american conglomerate berkshire hathawayinvesting legend who had amassed a net worth of about $2.3—billion—dollars. in a statement, mr buffett said berkshire hathaway could not have been built to its present status without charlie's inspiration, wisdom and participation. mr munger was 99 years old. to news about the environment now... a bbc investigation finds that toxic pollutants released during gas flaring pose a lot more risks to people than previously feared. flaring is the burning of waste gas during oil drilling — and the united arab emirates had banned the routine use of it 20 years ago. but satellite images show it is continuing. that's posing more questions about the effectiveness of the cop28 un climate conference hosted by the uae, a major oil and gas producer, as sarah colenbrander from the 0di think tank told me. this is a new mechanism under the claimant regime, where countries have to come together every five years to assess their process under global climate goals. where fettered for our first review which h

tonight the news came that charlie munger had died.write that he was to warne buffett's closest associates that together they turned the bergsher headway company from a dying textile company. to one of the largest respected investment companies, or you can simply write: munger lived for 99 years, of which they knew buffett for 64 years, they worked in the same company for... 45 years, as street journal writes, there was nothing like this in the world business partner, who would play a supporting role better than munger did, he and buffet talked on the phone for hours, on the phone, because they had lived their entire lives at a distance 2,500 kilometers apart, which did not stop them from making all decisions together. buffett said that he and the munger never quarreled, and if opinions differed, the munger, using his ability to speak almost in aphorisms, would say something like “ warren, think again, and you will agree with me, because you are smart, and i'm right. buffet said that after each such call he became a little smarter, and

on the late charlie munger. he was that brilliant partner of warren buffett. munger famously got buett focus on high quity companies at a fair ice. munger, he would ner have bought a share of olapx. this one shows youon't even need good mbers for your sck to go higher. you just need soelief that the bad numbers are filly the rearvi. i'll give you an example. pvh, parent of calvin klein and tomm they gave terrible mbers today. its ock rallied 7%. and that kind of cocyed optimism also explains the incredible r in the seventh best performer, victoria's secret. terrible guidance.oss. but ter initial head fake lower its stock sprung higher as t last bad quarter cribed syndrome. metimeyojust see a company isn't disappearing a for the real oimists they buy. and that's victoria'secret's secret. and that of course and that had a 15% short position. now, there are so manyompanies that take care of payments. and when interest rates were going gher thearket hated ery onthem. but when rates go lower 're suenlynamored of the fastest grers inhat feels like a totally hogenous

i think as we talk about charlie munger today, right?and you know, what happens. i think young people are a little more astute than we give them credit for. if you ask, and charles schwab did, do you realize social security might run out in the next decade or so, they say, yeah, that's why we're saving money. that's why we're spending less on certain things. that's why we're taking jobs not because of the salaries, because of the benefits package that comes with it. so maybe gen-z can retire at a 61. stuart: well, i retired at 49 -- lauren: and then we pushed you back in. stuart: bored stiff. [laughter] lauren: my grandmother used to have in her kitchen something about -- oh, i have to get the plaque so i can remember it, but her worst day is when her and her husband retired. yes. stuart: aye heard that as well. there's a cute saying about it, it was great. she wanted him in the office every day, out of the house. my domain. stuart: what am i going to do with him if he retires? i've heard that a lot. [laughter] coming up, this presidency

trillions instead of multiple billions. >> don't miss the special program tomorrow night on charlie munger's life and legacy and wit and wisdom, 8:00 p.m. eastern right here on cnbc. "squawk on the street" will be right back. ( ♪♪ ) we're still going for that nice catch. we're still going for that sweet shot. and with higher stroke risk from afib not caused by a heart valve problem, we're going for a better treatment than warfarin. eliquis. eliquis reduces stroke risk. and has less major bleeding. over 97% of eliquis patients did not experience a stroke. don't stop taking eliquis without talking to your doctor as this may increase your risk of stroke. eliquis can cause serious and in rare cases fatal bleeding. don't take eliquis if you have an artificial heart valve or abnormal bleeding. while taking, you may bruise more easily or take longer for bleeding to stop. get help right away for unexpected bleeding, or unusual bruising. it may increase your bleeding risk if you take certain medicines. tell your doctor about all planned medical or dental procedures. the number one cardiologist-prescr

charlie munger died in the city of santa barbara in california, he himself would probably say somethingted to say. yes, denis, thank you, denis telalaev presented the economic overview of the day. pre- booked, cozy guests. an unforgettable winter vacation that may not take place, because in the pre-new year bustle and dreamy mood we lose our vigilance, the schemes that scammers come up with to get out what they have acquired through back-breaking labor are becoming more inventive and realistic, like when booking a hostel, hotel or guest house, not staying and without money and without vacation - alexey kvashenkin figured it out, this the plot is for those who have planned a trip to russia for the new year and it doesn’t matter whether you have already booked a hotel or are just planning to, scammers are already interested in you, on the eve of the new year a huge number of fake hotel websites and even fake aggregators appear that allow you to book these hotels. there are a lot of publicly available huis services in which any person, not an it specialist, can simply enter the domain name

been, and i just took this from the annual report. 3,000,800%, and a lot of that is thanks to charlie mungerhis own groupies, too. certainly he was the king of the one-liners. rishaad: he came up with the concept of lollapalooza, which is crowd mentality. >> a few years ago i came in they tell me there was no electricity on the island. electricity on the island. sé que él tuviera orgulloso también de vivir de esta viviendo una vida como la que estamos viviendo ahora. es electricidad aquí es salud. the pulmonary embolism happened. but because i have 23andme, i was aware of that gene. that saved my life.

charlie munger, the longtime vice chairman and second—in—command to warren buffett at berkshire hathaway now valued at more than $780 billion. the us dollar has hit a three—month low as investors have grown increasingly confident that the us federal reserve will start cutting interest rates by the middle of next year. the us currency dropped 0.5% against a basket of six other currencies to trade at its lowest level since mid—august. the decline accelerated after christopher waller, one of the fed's most hawkish policymakers, signalled that interest rates were unlikely to rise further and could be cut if inflation continued to slow. saudi arabia's sovereign wealth fund has taken a 10% stake in london's heathrow airport, following the decision by the spanish infrastructure group ferrovial to offload shares in the uk's main travel hub. the shares have been purchased by ardian, a european private equity group, and riyadh's public investment fund. still to come, knocking it out of the park — with global revenues set to surpass $1 billion next year, we look at the commercial success of women's

charlie munger, the right-hand man at berkshire hathaway did a recent interview saying there could ben acquisition but this seems to paint a picture of a barter economy where cash can actually earn a lot right now. there could potentially be pressure for berkshire hathaway to find something. the share prices are should been performing really well. they had the peak in september but investors could grow impatient in the future. >> when you think warren buffett, it is basically he is the guy who invested in railroads and coca-cola, apple stock back in the day. and of course, his insurance company as well. not to mention help finance the accidental acquisition of anadarko as well. it is really hard to find value right now when you're dealing with so many different changes. that is a proxy for the broader economy is doing because of those investments. kuester has been questions about higher interest rates. i think when you look under, you see some of those business units struggling. business is related to housing struggling at berkshire hathaway course, it seems like the american economy

the contrast to guys like charlie munger who passed away this week who focused on stability and commonse and sort of value creation over time, this is the opposite of that, and this is not an enlightened super ego. this is a guy in a lot of trouble on stage, i think, just dissembling a bit. >> there's also this -- it's fascinating to me because it's a sort of circular, i can't follow his logic right, he's going after the advertisers. i think "the new york times" has estimated they're going to lose $75 million in ad revenue at this point. he's going after the advertisers basically saying this is all on you, and when and if my company fails this is all going to be your fault. but to your point, a, this is the business model that you decided to take. and b, a lot of this was all stirred up by you and your policies and your tweets. i also think he keeps saying you can blackmail me or is it that they're holding him accountable for the comments that he made, and that's what you can do in a capitalist society. you can choose not to participate. you can choose not to advertise. >> consistent w

i do want to end again telling you that charlie munger, the 99-year-old investment sensation behind warren buffet, the two used to be like a financial batman and robin, very funny, very sharp. now very much history. gone at 99. an incredible career in business. >> dana: hello, i'm dana perino, along with judge jeanine pirro. this is "the five." >> dana: it's the kofing covington smear. sports website dead spin posting an article featuring this picture of a young kansas city chiefs fan from sunday's match against the raiders. the photo only showing half his face painted in black with the headline, the n.f.l. needs to speak out. important context missing, a full-face photo shows the other side was painted read to match the team's color, which is not uncommon. other fans do it all the time. dead spin facing major backlash apologizing to the little boy. the writer doubling down and writing, for the idiots in my mention treating this as a harmless act because the other side was painted red, there is argument it makes it even worse. y'all issue the ones who hate mexicans and wear sombreros on ci

the details of that reporting with buffett, but earlier this week i sat down with vice chairman charlie munger home in los angeles, for a project i'm working on ahead of his 100th birthday he's the elder statesman and sort of a moral authority at berkshire. i asked him what he thought of that story. >> i don't think there's the slightest chance that warren is doing something that's deeply evil to make money for himself he cares more about what happens at berkshire than he cares about his own money. he gives his own money away. he doesn't even have it anymore showing how little he thinks of it having done that, they say a dirty [ bleep ] taking of berkshire to make money. it's not a plausible argument. it's one more ridiculous thing. >> propublica noted that the trades were very small relative to buffett's net worth propublica has said his portfolio trades from the year 2000 to 2019 totaled 466 $466 million that is less than one-half of 1% that buffett is worth now, and 99% of that is in shares of berkshire itself charlie's point was it would be silly to argue that you were putting yourself at

warren buffett right-hand man and charlie munger passing away at the age of 99 and a california hospital buffett 93 himself dubbing longer the no ma'am for his fierce objection of potential investments. crediting his investments in engineering and technology companies. then there was this new york congresswoman and squad member alexandria ocasio-cortez getting a lot of pushback for the comments about new york city's working class. watch. >> the people moving out of the city are not by and large the wealthiest people, that the working class that cannot afford to live here anymore. >> she goes on to say the answer of tax the rich that's the socialist like herself and bernie sanders. the new york post agree with her yes people are moving out that have not recovered from pandemic job losses, empty offices, rising crime on the subway and the street. aoc right nyc is unaffordable thanks to her fellow democrats. the post goes on nothing of the state screen new deal climate laws that are sending power prices for new yorkers guy wo worth. more to the criminal justice reform, aoc and her patriots

you covered so well yesterday, they lost a board member in charlie plunger who was a fan of -- charlie mungernd the business as well. so, yes, i do like costco a lot. channel checks show really strong preholiday sales, and you can't even get near my closest one here now that the holiday season's underway. stuart real fast, digital realty trust, dlr, you like it. give me 20 seconds on it. >> sure, stuart. they are people that handle the real estate and the management of data centers. the a.i. boom is helping hem out all over the world. they're a $41 billion company that i think is going to continue to be a picks and shovels pick in the a.i. space. stuart all right. d.r. barton, thank you very much, indeed. we'll see you soon. the bell is ringing, and that that means we're about to open trading on wall street this thursday morning. this is the last day of november, last trading day of november. it's been a spectacular month so far. i've not got the numbers in front of me, but i think the s&p's up close to 0%, if not -- 10 is %, if not more. so we've opened with a gain of a half percentage point

charlie munger: a life of wit and wisdom. remembering the late legendary investor. that is tonight, 8:00 p.m. eastern time, right here on cnbc. >>> wti reversing sharply today. investors remain skeptical that today's announced opec-plus production cuts of 2 million barrels per day will come to pass. this as u.s. production hits its highest level in history. for a closer look at what is at stake, sankey research president paul sankey is here with us on set. >> hi, melissa. >> i don't know why you're not ceo of this thing. >> of sankey research? i'm the janitor, i'm everything. you name it. >> it was strange, this proposed cut was not mentioned, and other countries come out with their own plans for cuts. i mean, that's sort of what was not convincing about what they wanted to telegraph to the markets? >> yeah, it wasn't convincing. it's already a problem when opec is cutting and they've already cut and as you say, they've got a huge problem with u.s. production levels. it's extraordinary. and what you've got to remember, the u.s. industry is planning on 60, and they a

. >>> we have to reflect on the life and impact of investing legend charlie munger. on set is someone who has observed him at many meetings and a legendary investor himself. we got the almanac here -- >> i got a copy of -- i feel like tom hanks on set here. >> i love the fact that you have the original right there. >> we have it. but it was a gift in 2009 from someone. >> yeah. it's going for -- so i brought in -- i have a copy. but my cat attacked it a couple years ago. i don't think i could sell it for the $75 it's going for -- >> that's not the same as my dog ate my homework. >> it's one of those small things in life. >> what happened is that i met warren because i knew of warren because when i went to study roger murray skied him at columbia, warren had studied. and then he covered and owned a piece of a company in new york city called pinkertons. and so you learned about what he did about taxes, you learned about what he did about cash flow. and then fast-forward to somewhere around a quarter of a century ago, 25 years ago, i would be invited to the annual meeti

charlie munger, one of the greatest investors of our time. many of you who heard his wisdom, by the way, who has a terrific special tomorrow at 8:00 about this man. i'm sure you want to made the kind of money he made in individual stocks. this show in the cnbc nvtsing club are places to learn how to manage your own money, along with the investments that charlie liked who lacked the time and inclination to pitch stocks. that's not you. that's not you or you shouldn't be watching. you should feel good because this is a market where your homework matters. it doesn't need to hang on every word from elon musk, even though i did because our colleague brought him on in a rare and raw moment. you don't have to hang on every moment or message from nvidia because you know i named my dog after nvidia. it is not hostage to iphone 15 sales either because we're far less reliant -- no, we're far less hostage to the magnificent 7. of course, bigger stocks have been ignored. gm announced a $10 billion buyback. why not? stock sales at four times earnings. that

by the way, tonight, do not miss a cnbc special "charlie munger, a life of wit and sdom."nterview with warren buffet's colleague for many years. >>> as we go to break, yields are elevated. two-year back to 4.7, 10-year back to 4.35 on the heels of that very hot chicago pmi number. pending homes in about 10 minutes. (christmas music) ( ♪♪ ) weathertech gift cards have the power to wow everyone on your holiday list. offering a variety of american made products... weathertech! nice! like floorliners... cargo liner... seat protector... boot tray... cupfone... sink mat... pet feeding system... anti-fatigue comfortmat...and more. order the weathertech gift card instantly for the perfect gift at weathertech.com. >>> let's get to jim and stop trading. >> the winner and champion for cyber security may be palo alto. it traded today at $100 billion company and be when the company was 50 said that was going to happen, about a month ago. he had unbelievable numbers and people didn't understand. let's go away from billings and do remaining performance obligation, and then everyone poo-p

. >> warren buffett, too, has been a massive skeptical, and charlie munger. called it rat poison.y holdouts that have no interest in getting into this. it's also been described as the greater fool theory. whoever is going to pay the most -- someone will pay more than you, and that's the entire theory, according to warren buffett on this. the most well-known, successful investor of our time wants nothing to do with bitcoin, so there's a lot of people that see him as the more credible guy in this and would follow his advice. absolutely not a good thing for the credibility of the industry. >> no. now, sam bankman-fried, in many ways, the face of this, facing 110 years in prison. technology reporter kate rooney, we appreciate it. >>> up next here, the senate confirms three military officers as republican tommy tuberville holds up hundreds more. we'll play what the former football coach is saying about the strain he is placing on america's armed forces and how it compares to his time as a coach. >>> plus, donald trump sympathizes once again with january 6th insurrectionists. we'll show