when he talked about how charlie munger went to public school omaha public schools, every buffett going

that's what charlie munger and warren buffett built.was resilient and built it for succession planning. we anticipated no hiccups. we were correct. it performed as expected. >> a strong quarter for berkshire hathaway. we have to talk about the cash pile. $168 billion. that's a lot of money. i looked this up. apple has $40 the40 b$40 billio. you said that aligns with you and the 360 community. why? why not have that money work in the market? are you worried that the company is missing out on huge gains? >> i think the missing out is a risk. what you want to do is sit tight and wait for the best opportunity. warren buffett is a value investor and many of our members are value investors. we have two of the top value investors who meet with warren buffett. they used to meet with charlie munger. this is the strategy. you have to sit tight and be patient. that means you have financial resilience even in a worst-case scenario. >> warren buffett was the first to bet on japan. what do you think about the japan investment? do you feel there is mo

wonderful life and of course the load to charlie munger is something you don't see all the time something that i'm going to take a backseat it was not me, this guy came to me when i bought burke shire and told me all the mistakes i was making in warren buffett did something that i think we can all learn from, he listened. he actually listen to criticism and while he and charlie made history no doubt about it, warren buffett lived a life and i truly appreciate him sharing the snippet so much. someone that knows warren buffett very well will take you to the next hour of trading. i know you read the letter you must've got chills as well. >> every year it's really intense and it's also a lesson in investing. when he talked about how charlie munger went to public school omaha public schools, every buffett going all the way back had gone to omaha public schools and warren used to joke about good public schools he said maintaining good quality public schools is like virginity easy to lose but hard to get back. >> i'm not going to test that one but he's right. liz: thank you. fox market of art, t

this is first earnings report since the death of charlie munger. warren buffett praised munger's role in creating the firm calling him the architect of the company and himself the general contractor. he said he would take the stage this time. he also made interesting comments about the electric business and regulations around electric and also the train business and how capital in intensive that business was. you rarely hear him talk about the regulations. you would be interested to know he was calling out the regulatory problems impacting those businesses as well as talking about some of the highlights of the business. it was a fascinating letter. of course, the first page devoted to charlie munger and his relationship were quite poignant. >> charlie did not like regulation. >> he deparidn't. he bought two businesses that are highly regulated businesses. if it you go back and think about it, they were not highly regulated businesses. >> check it out. su sugar. glucose. it is not a carcinogen. however, over consumption of sugar can contribute to ob

i think most of what we'll read will be the late charlie munger.on't think there's going to be anything particularly revolutionary. i do think it's interesting, though, that the company has been selling down the position in paramount, which was clearly a disaster running the $350 billion stock portfolio, half of now is apple, maybe more color about what their plans are to take more of the reins of the investing side and there will be commentary about japan, one of berkshire's big strategic investments in the portfolio. they bought shares in multiple japanese trading houses and look at the japanese stock market it has had this 35-year awakening. >> all-time high >> not a lot of people saw that coming apparently berkshire sort of saw that coming and those investments look really wise in hindsight. those are things i will be personally paying attention to >> your belief or guess that amazon is this mystery stock >> it's a guess based -- i've never been to omaha. everyone, relax. don't aggregate this into a news story on your blog, please but they do o

same with charlie munger right to the end. chronological age. i'm making my own case. what are we talking about? my case not so good. >>> home depot, i heard of them. >> you want to talk about them? >> yeah. i'm very sharp still. you know, 20 years younger than these guys. home depot reported quarterly results. courtney reagan joins us with the numbers. i was trying to remember if it was last quarter that they were abysmal and the stock went up. >> it is funny. home depot stock sometimes doesn't move with the fundment the als from earnings. let's lay it out. home depot is reporting $2.82. that is above $2.77 consensus. revenue of $34.79 billion. that is above the $34.6 billion forecast. the retailer guiding sales to grow 1% for the year saying they will open 12 new stores. comps will fall for the year to come and gross margin under 34%. the total comp sales for the 40 quarter did fall 3.5%. that is about in line with the analysts expectations. u.s. sales down 4%. home depot also increasing its quarterly dividend by 7.7% to $2.25 per share. i spoke with richard mcfaphai