as berkshire hathaway upped the stake in three of the holdings.pple. he mentioned apple was something he bought more of in the first quarter. he added to berkshire hathaway investment in chevron. taking that holding to $26 billion. that was up from what we had seen in the end of the first quarter from $4.5 billion. buffett reporting that berkshire hathaway holds 9.5% of activision-blizzard. he said it is a play he noticed quickly that the stock had been trading below microsoft's deal price of $95 a share and figured they could make money. >>> and five hours of questions, people peppered buffett. here is how he explained the damage done by rising prices he said he wrote an article in the 1970s. the last time we saw high inflation and said it swindles equity investors. >> the bonds can swindle the equity investor. inflation, i should say, swindles the bond investor, too. and it swindles the person who keeps cash under the mattress. it swindles everybody. the problem is if you have a business that doesn't take any capital, let's just say, the dollar

that will be revealed when berkshire hathaway makes the filing for the quarter public. he is also told me that the stock went back up so i stopped. otherwise, who knows how much i would have bought. now chevron joins the top four holdings it is rounded out by bank of america and american express all of this in his annual letter that there was little interesting to him in 2021 that changed >> we he spent $40 billion in a hurry in three weeks now we're back to somewhat in more lethargic mood. anything can change berkshire. the one thing that won't change going back to q2, is we will always have a lot of cash on hand >> buffett revealed more about berkshire hathaway's activision stake. we will have more on that later in the hour. the other big story was berkshire hathaway shareholder and first time attendee bill murray he was here, too we got the first comments from him. >> okay. that's interesting she just froze. >> comments in a billittle bit >> page three of the new york post has rebecca quick i read about his comments over the weekend. we all experienced had this. what

if you look at berkshire hathaway, look at the names in his portfolio. coca cola, exxon-mobile, chevron , apple, amazon, johnson & johnson, heinz, all these big americana u.s. names that will provide some stability. if you want to jump into teledoc and spotify, knock yourself out and go for it but as a 60-year-old that's not where i am. if i were 20 maybe i'd be there but at 60 i'm in the camp that as much of a warren buffett. its got to be big americana and that's where people pay attention, i think they will be okay, is it going to be a rough ride? i certainly think it's a rough ride, still until we get through and get more clarity from the fed on really where they are going because right now, it's still all the speculation, everyone's tossing it in it's 50 , 75, it's 25, what is it? liz: well, let's bring in jefferies managing director and tech stock specialist jarod weifeld. the nasdaq got hammered in april, buffett was in buying, activision because he loves the price and the companies and he said let me get in there. why is it so hard for investors

what have we learned about berkshire hathaway's stakes in the first quarter?they increased their stakes in also dental petroleum -- occidental petroleum. most notably chevron. activision blizzard, microsoft put a bid for the country at $69 billion, a classic deal arbitrage play for warren buffett. he has increased the stock to 9.5%. signaling his conviction that the deal will go through. dani: laura, thank you. rounding up that event in omaha. as we close out the hour, we continue to look at european futures moving lower, playing catch up with the u.s. story on friday, and ugly day, the worst day for the s&p 500 since 2020, the start of the pandemic. cross assets continue to be about king dollar. yen and euro weakening, pushing financial conditions to the tightest since 2018. will it get more ugly? we are looking at two year yields charting higher, the highest since 24 -- 2018. this is bloomberg. ♪ xfinity mobile runs on america's most reliable 5g network, but for up to half the price of verizon, so you have more money for more stuff. this phone? fewer groceri

now let's think about berkshire hathaway warren buffett saying stock markets are speculating.made the comments during the shareholder meeting saying wall street is like a casino. >> capital markets are supposed to do. other times, it is totally a casino it is a gambling parparlor that existed to an extraordinary degree in the last couple years. encouraged by wall street. the money isn't turning over stocks some people say how wonderful you've done buying berkshire and 1965 your broker would starve to death. wall street makes money one way or another catching the crumbs that fall off the table of capitalism and incredible economy. nobody could have ever dreamed of a couple hundred years ago. they don't make money unless people do things and they get a piece of them. >> everyone's favorite act buffett giving his thoughts on the price pressures on investors. >> inflation, i should say, swindles the bond investor, too. it swindles the person who keeps cash under their mattress. it swindles almost everybody the problem, if you have a business that doesn't take any capital and let's

news alert on berkshire hathaway latest holdings.etails. >> it was a very busy quarter for berkshire hathaway a lot to get to here first of all, we want to share that they sold almost the entirety of verizon. down from holding $8 billion worth of that stock at the end of the last year also berkshire hathaway taking a new sidable stake in citigroup worth $3 billion while dissolving a small amount left of wells fargo in that portfolio. a huge bump in activision blizzard so hold for man $5 billion worth of stock at the end of the quarter that was purchased as a merger arbitrage play as activision awaited approvals for the $69 billion take over by microsoft. they mentioned during the shareholder meeting a few weeks ago, buffet said they hold 9.5% of the company so they purchased more stock since quarter end since these 13-fs revealed and huge boost to chevron. the $26 billion worth of stock which we also had known since that time, sold in pharma names as well during the quarter dissolved a stake in abbvie, bristol-myers squibb and royalt

what happens with berkshire hathaway this weekend that's what happened with berkshire hathaway this weekendt's take a look at where european market's are trading right now. looking great. details to follow. this is bloomberg. ♪ oomberg. ♪ guy: we are wrapping up the monday session for european stocks. may is starting with the idea you should go away. european stocks lower. reaction to domestic news, reaction to the friday selloff in the united states. the cac 40 is down 2%, the dax is down 1.47%. a pretty soggy session to start may for europe. i want to stop -- i want to start with something that happened earlier. at around 9:00 london time. we got this. suddenly we were down 8% on some of the nordic markets. stockholm is probably the epicenter of the action. a big move lower. the initial reaction is this, the technical problems. none of those were in issue. more details in just a moment. the market came back up quickly. just added to the jitters for market participants in europe, with a lot of things to think about and a lot of stories developing as the day has progressed. let's talk about

now on the same page as the berkshire hathaway titans when it comes to the crypto verse. peter joins me on this week's edition of everyone talks to liz my brand-new podcast job today. here his reaction to buffett's monger take on crypto in the warning about where bitcoin is going next. it is available on apple, google, spotify, wherever you download your podcast. please take a listen and let us know what do you think. liz claman on twitter or red fox liz. the closing bell 36 minutes away, the dow is up 85. stay tuned, we're coming right back. what are you recommending for muscle pain? based on clinical data, i recommend salonpas. agreed... my patients like these patches because they work for up to 12 hours, even on moderate pain. salonpas. it's good medicine (vo) verizon business unlimited is going ultra! get more. like manny. event planning with our best plan ever. (manny) yeah, that's what i do. (vo) with 5g ultra wideband in many more cities, you get up to 10 times the speed at no extra cost. verizon is going ultra, so your business can get more. lemons. lemons. lemons

it's been buying shares of hb, and at the berkshire hathaway annual meeting a few weeks ago, buffetts 9.5% of activision blizzard which would imply they've been building on purchases of that merger we should get the filings after the close today including berkshire hathaway's very much >> thank you very much you looking out for any -- we always look at these 13 fs and they're kind of backward looking. but given they're recently backward looking and the environment is so messed up, maybe they're more interesting in most periods. because you want to see the trends that emerge from this >> what's interesting is the transparency in cathy wood's arc fund and think for a moment about sentiment in the market. her aum is still strong. in fact, it grows. what does that say overall about people's risk assumption when they're looking at these innovation hypergrowth stocks. that have thad chain saw fall on it >> those stocks have come down a lot. this is what people have said to me they're not necessarily that, pencive relativeb to real rates. look at where are you going to get growth and you lo

laura: berkshire hathaway it is on its biggest stock brian --is on its biggest stock buying spree since 2008. boosting its stake in chevron and revealing it now holds a nine point 5% stake in activision blizzard. buffett gave no indication he plans to step back anytime soon as they held their first in person meeting since 2019. qantas has reintroduced nonstop flights from new york and london. the airline says passengers will be able to start playing routes in late 2025. qantas had planned to start flights known internally as project sunrise in 2020 three, but it was delayed due to obit. -- covid. ping an insurance has held discussions with the bank on the idea of spinning off hsbc 's asian assets. the creator of the popular board ap yacht collection of -- bored ape yacht collection of nft's, launched a virtual land collection. that is the largest offering of its kind to date. dani burger is not interested in buying any metaverse land, what about you? tom: i saw the trailer for this new land, it is very trippy. it is worth looking at and pulling up on youtube or their website, but this i

what was interesting as warren buffett's berkshire hathaway leaving its wells fargo state. manus: they are lumping it large on citigroup. thank you very much. we look at it too $.9 million bet on citigroup. concessions. sweden and finland to nato are facing complications after turkish president erdogan says he was -- not allow them to join the alliance. >> sweden and finland have a clear stance against terrorist organizations throughout this process even if they say they are against terrorist organizations, they have statement that they will -- certain terrorists. manus: let's get to our european government managing reporter. is this a russia-stumble -- is this a moscow-istanbul told? -- tilt? >> the expansion of nato north is a key move not just finland, but sweden who feels like they're are under pressure from russia and also the baltic nations. those three countries on the south side of the baltic sea who have been most acutely sensitive to their vulnerability to russia. the oil quip thing is that putin has been threatening with retaliation if they declare their colors.

berkshire hathaway made $41 billion worth of net purchases in the first quarter.hey boosted their stakes in chevron and activision blizzard. global news 24 hours a day on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm kailey leinz, this is bloomberg. ♪ >> i am really excited to be here tonight. the only group of americans with a lower approval rating that i have. >> republican seem to support one fellow. some the -- some guy named brandon. >> the president of the united states at the white house correspondents dinner saturday evening. we were on a different table but very close to each other, i could not stop laughing when he mentioned brandon. >> he's not sure who he is. >> i think he knows what it means. >> i think he knew going in as well. jonathan: futures positive about a 10th of 1% on the s&p. we were recovering, tom keene still recovering. he will be back tomorrow ahead of a federal reserve decision after payrolls on friday. 44, crude down about 3%. the germans making some noise this mornin

cuts its growth forecast plus, berkshire hathaway taking an even bigger stake in occi >> and yetblue launching a hostile tender for spirit, urging shareholders to vote against the deal with frontier yeah you didn't see it, but jim shook his hand at it we can do that we'll wait we'll wait >> give them the time of day >> we'll get it over with quickly. let's start with the markets, jim. of course, as we enter this new trading week we have a lot of paper in front of you >> a big week. >> why >> first of all, the major -- the big box retailers report they're a much better gauge of the consumer than everything we hear how weak the consumer is or not. second, i think the china -- i'm worried that china is a little more off the rails i had some soul searching this weekend about an interview i had with micron, where perhaps i was too bullish about any interpretation of what's really going on there with shanghai and cell phones. >> what do you nene? >> maybe there's no commerce being done and that's a huge chunk of the world where there's no commerce being done >> we did get a number out, som

warren buffett's berkshire hathaway is on its biggest bank street -- buying spree since 2008. they also included boosting its stake in chevron and revealing it holds a 9% stake in activision blizzard. buffett gave no indication he will setback back anytime soon as berkshire held their first in person meeting since 2019. those are your first word headlines. kathleen: still ahead, tribeca's estimates say inflation levels require more rate hikes, but over tightening is a risk. jun bei liu joins us next. this is bloomberg. ♪ kathleen: it's going to be a huge week for monetary policy. let's take a look at the main events in the next few days. investors keeping a close watch on the fed with economists expecting jerome powell and company to pull the trigger on a 50 basis point rate hike. they are also expected to announce the $9 trillion balance sheet. just beyond, the u.s. jobs report friday forecast to show a robust gain of about 400,000 last month. in the u.k., the bank may opt for a fourth back to back hike so bloomberg economics expects a more cautious central bank after that. h

among the big, berkshire hathaway and warren buffett purchased citigroup and allied financial.rkel and mckesson. all of these are coming up berkshire sold almost all of the verizon stock and exited the small position in wells fargo. in the meantime, dan loeb sold out of its positions in alphabet and disney of off loaded all of amazon and 70% of microsoft these are big moves. >> 5% pop for citigroup in the pre-market i'm assuming on the buffett news we were chatting in the break, andrew, mid-sip. paramount. >> citi is an interesting one. >> maybe.traditrading? he is not betting on mortgages do we think these are his or others in terms of the size? >> it could be with the positions. it could be todd it could be ted. >> did he tell you in omaha, becky? i love watching "star trek" or "halo. >> i feel it is not him. it is hard to know. >> it doesn't seem like it. >> hard to follow. he has loved banks that explains citigroup. citigroup has been unloved for a while. he has a huge position of bank of america one of the four biggest in the portfolio. it is number two or three d dependin

for traders -they're made by them. thinkorswim® by td ameritrade >>> what do you think about the hathawaythat is what it is. we have a chart that we can talk about and the context of your question. the point of a tremendous line is the point of the moving around. you can draw it or automate the process. the stock is sold off gently to its actual train line. and it is a selloff to a level of support where it was a high. i'm a buyer. >> mike, what do you think? >> this is a company that has a stable cash flow positive business and has a big war chest and it hasn't been able to deploy it. this is a way to start looking for some exposure, this is it. >> i've been buying sexl from the 30s to the 19. i'm not sure how to approach this. what strategy do you recommend when selling options? >> so for this, you most likely want to sell some color. the rule is go out about 30 days and sell delta for a cover call. you want to prioritize the capital appreciation over the income. that is the primary risk that you're taking when you are owning this etf. you want to make sure that you're paid for the upsi

critics say it is inexperienced to investigate the market, berkshire hathaway price chairman charlie biggest critic who says the plunge amounts to divine retribution for his activities but the stock around $10 looks cheap, $7 a share in cash on the balance sheet, not paying much for the franchise at all, company seeking to move the prophet, could be an acquisition candidate. ben: what you like about that company? andrew: it is stylish, it lifted $95 a pair a pair and basically taking on the optician business which sells glasses for double the price so essentially a disruptor with very good growth prospects ahead of it, the stock is half of its ipo price. all birds is known for will be sneakers that were popular in silicon valley. the knock against it is it is a fad company but it has a strong following among eco-conscious consumers and is down 90% with $2 a share in cash on the balance sheet. carleton: if people are nervous about picking and choosing ipos is there a way to get into this space and how long do holdings last? do you see a company mature past its ipo time? andrew: a broa

berkshire hathaway's biggest purchased was chevron, $20 billion and bought occidental petroleum, $6 billionwhat is your favorite? andrew: aux the could be the backs -- the best bet. it is minting money right now. jack: is it the whole thing? andrew: berkshire owns 50%. he might want to buy the whole thing. buffett loves american companies. jack: what are you watching? carleton: i am watching the box office. there is this movie out, doctor strange in the multi-verse of madness the parting $120 million. box offices are back, people are spending money to go out and disney which hasn't faired so hot this year but also beat the market so far. jack: i love a good cineplex multi-verse. give me a stock i can fall in love with. >> i got craft hines, stock is up 20% this year but it is up half of 1% the past few months, it's earnings last month show it past the higher costs to consumers and trades 15 times earnings and 3.7% dividend looks good. jack: catch up speaks to me in a personal way. great ideas. to read more check out this week's addition of barrons.com and follow us on twitter,@barrons onlin

this is the code word for warren buffett of berkshire hathaway fame, the 91-year-old business magnatefett -- amy: from omaha. >> yes, indeed. his sort of constellation a family foundations has really been the backbone of private funding for the reproductive health care landscape for a long time. i think -- amy: named after his late wife. >> right, and a notoriously large anonymous donor. a ton of groups rely on. where this becomes a problem, structurally, we have a movement reliant on the whims of leaner back foundation, you can end up with what one organizer described to me as boom/bust cycles. you get a grant, the money is there for a project and then it is gone. this is a problem, especially because warren buffett has said he wants all of his money, all of his berkshire hathaway holdings expended for philanthropic purposes within 10 years of his estate being settled. a reminder, he is 91. when that happens -- he does not want to put into endowments for foundations, he wants it spent on current needs. we could be seeing this massive sort of boom/bust coming that -- situations like t

for value sensitive investors who have a long-term arise, i did find it interesting that berkshire hathaway increased its stake through buying of apple shares a little bit because buffett has been content to have his share of apple go up on a relative basis, as apple buys back stock from everybody else, and he really extols the virtues of that approach the fact that he found a reason to actually lay out cash for that may be interesting it's of no help to the nasdaq 100, which is, again, stretching this downside. we're down on a one-year basis, 7% it's within been the downside -- sensitivity growing among tech investors, that's been the project of this market for the last six months. we've been working on the "p" side, the multiple side. the earnings have mostly held up and i think it makes a lot of sense. i don't know necessarily that that's news to this market it's happening in an orderly way. i think the fed's okay with it for that reason. so my point is not that's wrong, that we don't have to ragtallize p/es more, we're only back to the pandemic levels, but i also feel like this process

. >> we are 30 minutes into the trading session berkshire hathaway took a stake in the bank in the firstfilings later this hour >>> plus united airlines also rallying after raising its current quarter revenue forecast, saying it expects the busiest summer since before the pandemic began and taketwo interactive out with results, missing on the key metric, however analysts are anticipating an upbeat outlook once the acquisition of zynga closes >> why is it rallying so hard? >> that's a good question. it might be getting swept up in a revival of the stuff that's beaten down. >>> speaking of earnings, big movers today on opposite side of the spectrum home depot and walmart out with results. wall matt down almost 9% that's one of the biggest post-earnings losses we have seen for walmart home depot up 2% courtney reagan has digging in >> home depot beat across the board. it's increasing its outlook for the year u.s. comp sales grew more than 2%, interestingly. it's good to note that up to 24%, so pros like contractors, plumbers, pro sales did outpace do it yourself sales big-ticket items also

the first time back at the berkshire hathaway since 2018.e is back out and getting around >> long process. >> it is >> he is coming a long way. >> it was great to sit down and talk to him. you can get the extended discussion on squawk pod this week it is available wherever you listen to podcasts. >>> when we come back, we will talk about the deals on wall street and pfizer is set to report in the next few minutes it is down 1.3%. >>> as we head to break, let's look at the s&p 500's winners and losers >> announcer: executive edge is sponsored by at&t business at&t 5g is fast, reliable and secure your mover, rob, he's on the scene and needs a plan with a mobile hotspot. we cut to downtown, your sales rep lisa has to send some files, like asap! so basically i can pick the right plan for each employee. yeah i should've just led with that. with at&t business. you can pick the best plan for each employee and get the best deals on every smart phone. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sp

a fan has a question for the chart master what do you think about berkshire hathaway b specifically carterell, that's exactly what it is we have a chart that talk about the context of just your question the plot of a trend line is the point of a moving average. you can draw a trend line or automate the process the stock has sold off gently and quietly to trend to it's 200-day moving average, to its actual trend line and in principle, it's a selloff to a level of support where rebound potential is high. i'm a buyer. >> mike, what do you think >> look, i mean, this is a company that has a really stable cash flow positive business and it has a big war chest and hasn't been able to deploy it. i think if there are any names that you would look at in an environment like this as a way to start looking for exposure, this would be it >> here's our next question. i have been buying shares of semietf soxl from the 30s down to 19s i want to sell calls against them, but i'm not sure how to approach it. what strategy do you recommend when selling options tony >> rule of thumb is we have go out roughly 3

they saw initially on the hundreds of polish villages were levelled hathaway with lucas field willow accounts merry, but 42100000 civilians, women and children, and the elderly, well, brutally killed by their fiction. yet it's known that up to a certain point, goals and ukrainians lived side by side quite peacefully, our spirits. nobody's little, little girl that it was quite normal for them to work and celebrate together in winter marriage was also commonplace with miss neil hilder them. so if i can ship that as soon as i, he says, well, your ideals of 80 of you can use a 5 year support guide. you were able to learn the ability benevolence. you did it with your blood work through z granules, but you re more july edible, not a mile up with almost a d d m a r i c. so when you choose, when you cook, when you notice the brushing hutton in thomson, your floats, i was like they were man. yes sir. formula does the data tar? paulette then other words she act is a mystery rally. holly is so if i leave it on, on my list, you shall on of all in you vlog you grades in e m. so c, g here me. and

they saw initially with hundreds of polish villages were levelled hathaway, viscous field, willow, the counts very. but from 42100000 civilians, women and children and the elderly, one brutally killed them, but after cham yet it's known that up to a certain point, poles and ukrainians lived side by side quite peacefully with spears. nobody there was little graham that it was quite normal for them to work and celebrate together in winter marriage was also commonplace with miss new hilder them. so no thank you shipped with us from those of us. he says, but you also have new canoes. you, i'm in the 585 guys. you were able to fill out a day ability benevolence. you did it was, you know, blood work through z granular. got you re more just on the ball on our mile up of the most of the beloved grades that you re skiddy of a. so when you choose to, when you go, when you have is, can you put the procedure that is in them function, your flow to was like a, we have new masses. yes or blue. does the data, tara philanthropy, dorshek is a misty rally hauling. i was, so if i leave it on, it's on my l

today, berkshire hathaway c.e.o., warren buffett, blasted wall street bankers for turning the marketasino" with rampant speculation. his remarks come at the end of a tough month for investors and new fears over the economy. stocks plummeted on friday, the dow sinking nearly 3% and the nasdaq off 4%. amazon suffered its worst trading day in nearly 16 years. and apple says global supply chain issues will cost them billions. consumers are also feeling the pocketbook pinch, 401(k)s losing thousands in value, this as inflation drives up prices for food, rent, and gas, forcing many to cut back. >> not eating out as much. cutting back on coffee. >> reporter: next week, the federal reserve is expected to raise interest rates, hoping to cool inflation. higher rates for credit cards, mortgages, and car loans will follow. former federal reserve board member james wilcox believes the rate hikes are a necessary step. >> the economy, on average, does better when we have a much lower, more predictable, almost negligible inflation rate. >> reporter: but it's not all bad news. demand for workers is h

so in the field on the hundreds of polish villages were leveled. hathaway, viscous steel, willow, the counts very, but from 42100000 civilians, women and children, and the elderly. one brutally killed them by their fiction, yet it's known that up to a certain point, poles and ukrainians lived side by side quite peacefully, most fierce. nobody's little little girl that it was quite normal for them to work and celebrate together in winter marriage was also commonplace. with miss neil mildred's m, so no thank you. shoot for that. she knows about. he says, but you also need if you can use you from in the 5 year to 5 guys, you were able to put out of my ability benevolence. you did, it would have your book would receive granular. got you be more just the ball on our mile up at the most of the beloved raise, giddy of a. so when you choose to, when you go, when you know is, can you please a listen in thompson? your flow to was that they were matthews. yes or blue? does that answer tara? but then i will worship is a mystery. rally hauling is still on for you to run. that's on my list. you sha

well earlier i spoke to oona hathaway who's a professor of international law at yale law school.er how different and difficult it was for war crime investigations to take place whilst a country is in the midst of an invasion. this is pretty extraordinary. we have not really seen a case like this where we have war crime trials happening even in the midst of the war, in the country where the war is continuing to take place. it is really an extraordinary event and i think it is really to the credit of ukrainians that they are able to keep the courts running, engage in these prosecutions, and engage in evidence collection. it is really a pretty extraordinary event. i do not think that it suggests that the icc, the international criminal court, is irrelevant, however, because that will come in later. it will come in for harder cases or come in for cases against those who are higher up in the russian leadership, if those cases are able to move forward. we have got a big country, we are talking about russia, that has committed alleged war crimes in their most horrific nature, and it is

they saw it in the field on hundreds of polish villages were levelled hathaway, viscous field, willow accounts, very, but from 42100000 civilian, 60 women, children and the elderly. one brutally killed them, but after cham yet it's known that up to a certain point with holes and ukrainians lived side by side quite peacefully, most fierce. normally there was little gum that it was quite normal for them to work and celebrate together into marriage was also commonplace with miss new hilder them. so no, thank you, shipped to the nurses or he says, well yeah, and use of 80 of you can use them in the 585 gauge available for the ability benevolence. you did it was you know what we'll do the granular floor. got you really more just the ball on our mile up of the most of the bullets. we'll still raise grease giddy of a when you choose to. when you go, when you know is, can you put the brushing hutton in thompson, your flow to with yes or blue. does that answer tara, paulette another word. she active misty rally. holy is still on for you to on. that's on my list. you shall on of all, when you b

berkshire hathaway.k a little heat for inflation at the white house correspondents. watch this. >> if you didn't come, these people had been so hard on you which i don't get a really don't. sent you came into office everything is up gases up, rent is up, food is up, everything. stuart: stephen moore knows a few things about inflation and he is serious about it. he is an op-ed the bitter fruit of inflation down 29500. welcome back to the show you think inflation will push the dow down to 29500? >> let me be clear about this i think it's an important point that investors have to understand. the last time for years ago we had this high inflation and the persistent inflation in the 1970s we had inflation for 12 or 13 years. what that did it lead to a slaughter in the stock market. investors are interested in thereafter inflation return before inflation rate of return. if you have a date now% inflation rate as we do now, not only is the dow and the nasdaq down in nominal terms but when you count inflation you

we can now speak to oona hathaway who's a professor of international law at yale law school. forjoining us. is it normalfor war thank you forjoining us. is it normal for war crime hearings to take place while the war and the country is still being invaded. the country is still being invaded-— invaded. this is pretty extraordinary. - invaded. this is pretty extraordinary. we - invaded. this is prettyl extraordinary. we have invaded. this is pretty - extraordinary. we have not really seen a case like this where we have war crime trials happening even in the midst of the war, in the country where the war, in the country where the war, in the country where the war is continuing to take place. it is really an extraordinary event it is to the credit of ukrainians to engage in this prosecution and evidence collection. it is a pretty extraordinary event. i do not think it suggests the icc is irrelevant because that will come in later. it will come in for harder cases or cases against those higher up in the russian leadership, if those cases are able to move forward. ~ ., ., ., , forw

berkshire hathaway made $41 billion worth of net purchases in the first quarter, the most in at least a decade. berkshire boosted stakes in chevron and activision blizzard. global news 24 hours a day on air and on bloomberg quicktake. powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. biden: this is the first time a president has attended this dinner in six years. it is understandable that a horrible plague followed by two years of covid. >> the president of the united states on rare form over the weekend. one line that stuck out, a healthy dose of self-deprecation. >> did he also say that the event was launched in the 1920's and he remembers it well, having attended as well? he definitely had a good dose of self-deprecation in addition to a little bit more exciting. >> one of us had a few more drinks than the other and he is not here today. looking forward to catching up with tk. good morning, tom, good to have you with us. jokes and humor over the weekend, some serious sides as well and the focus is still very much on what is happening

berk berkshire hathaway warren buffett blasting wall street over one of his favorite targets nor criticismcomplains large american companies have become poker chips for market speculation. >> the market has been extraordinary. sometimes it's quite investor yen oriented, and other times it's -- you know, it's a gambling parlor. that existed to an extraordinary degree in the last couple years. >> yeah, this gambling as he calls it is just speculation. it's not investment. but it creates buying opportunities for buffet when the casino, as he calls it, drives down the value of an otherwise good investment, he steps in, right? berkshire spent an incredible $41 billion in stocks in the first quarter. >>> u.s. home prices are soaring, rents are skyrocketing. people in south florida feeling the wrgs of it. realtor.com named miami the least affordable rental market in america. red fin, the top destination for home buyers, a destination to move. so nice to see you bright and early this morning. sellers are making a fortune. byers are in a tough spot. what does competition look like for buying a hous

trading after warren buffett us berkshire hathaway raised its stake in the videogame maker to 9.5% ofctivision stocks that are up considerably from the less than 2% stake that the company held at the end of last year with warren buffett betting on the merger between activision and microsoft with plenty of hurdles to clear but my next guest has -- knows plenty of things about the world of gaming, i'm joined by reggie fils-aimÉ, president and coo of nintendo, with his new book, "disrupting the game." your book chronicles the rise of nintendo and how you navigated a lot of different disruptive forces. i'm curious, looking back, it's been almost 20 years since you joined the company. what do you know now to help folks -- that could help folks navigate the drama of the gaming industry today? reggie: the gaming industry always undergoes so much change, new technology into new forms of gaming. again like fortnite didn't exist -- a game like fortnite didn't exist five years ago. as i continue to be engaged with the gaming industry, we are constantly thinking about what's next, where are the n

unrelated to hedge funds is berkshire hathaway backing away from wells fargo, exiting its stake entirelyer three decades of backing that bank. francine: doordash for the international community is basically like uber eats. charlie, where are they actually putting their money? >> there is confusion and you see divergence in the performance of hedge funds. carvana, which is an american car platform, you saw capital back away from there, but you saw tiger global go into this investment. that is some divergence. i also want to mention a retail favorite, but it is down 56%. they have not shifted gears and they are keeping the shares they had previously, and that could potentially indicate that it was a pre-ipo investor. a lot of these filings, it is a murky look under the hood but it is a look under the hood. tom: it seems like you are sowing, but the pain is fair. who comes out of this in better shape? >> speaking of diversions, we are seeing diverted performance across different strategies. when you look at these equity strategy hedge funds, you see dismal performance, tiger global down in

we are confident in it we got a great team. >> you did get a boost of confidence from berkshire hathawayns with the team there >> i was delighted to have a conversation with mr. buffet who wouldn't enjoy that phone call >> he called to say i am buying o--. >> he called to connect. as you imagine, he's a wonderful investor we're delighted to have him in and we hope there will be more investors that will be following his footsteps as after he delivers the top -- and he always said the proof will be in the pudding and we're delivering the pudding. >> anyupdate on the sales from the overseas businesses that wall street has been watch something. >> we will be letting the market know whenever we have news on it through the individual closures and any other new signings coming up. i'm delighted with the fwrog. >> progress. >> russia is making progress >> a tricky one. i am pleased the the way conversations are going. >> what about china? what is happening to the business there with major cities like shanghai having been shut down for weeks now >> look, the lockdown in china was obviously longer

anadarko and they had to acquire a lot of money at 8% annual interest from warren buffett and berkshire hathawaypays off in spades and what the dividend-year-old is telling me they have to pay a high dividend in order to pay that equity on the balance sheet. >> scott, thank you very much. great to be with you today >> one more, our working lunch with john fort he's working on a friday, a holiday weekend friday looking to help small business plus as we head to a break, during may we celebrate asian-american and pacific islander heritage and feature some of our cnbc teammates and members and here is kavita patel, former obama white house policy adviser >> growing up i often tried to fit in and that meant often times not acknowledging and it was incredible one day she brought in a self-portrait and she filled in all of the skin with a dark-brown color. even my own portrait as lighter skin or yellow hair trying to match the children around me and she was incredibly proud and all of her drawings include little brown girls. >>> welcome back to "power lunch. let's take a look at u.s. markets right now.

imagine that warren buffett's adding to his position, despite it's the largest position at berkshire hathawaye to look past the next two quarters. if you look long term kwb i think these are names going to have some opportunity for the right -- in the right investment portfolio and every investor needs to be careful. not specific recommendation, the exact you were listening i think we're interested >> you mentioned three of the names. why johnson & johnson? >> johnson & johnson is part of what i call the hero industry. supplying things like vaccines hopefully they're going to be able to provide bibby formula under the defense act. i think pharmaceutical with their high dividend rates, with as elwith as providing vaccine and health care services to the world, i think is going toby a major, major player down the road, particularly as we continue age and demographic basis. all of us are getting older. not you, kelly and as we get older, we're going to need more and more health care and i think johnson & johnson is well position tad do that >> we've talked a lot about china and other things you w

worn buffets berkshire hathaway said goodbye and made a big bet and he ended his long-running investmentn wells fargo. berkshire has invested $2.9 million into a group with a new ceo. global news 24 hours a day, online and at quicktake on bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i'm ritika gupta. this is bloomberg. ♪ at fidelity, your dedicated advisor will help you create a comprehensive wealth plan for your full financial picture. with the right balance of risk and reward. so you can enjoy more of...this. this is the planning effect. another crazy day? so you can enjoy more of...this. of course it is—you're a cio in 2022. so what's on the agenda? morning security briefing—make that two. share that link. send that contract. see what's trending. check the traffic on your network, in real time, with the next generation in global secure networking from comcast business. lunch? -sure. you've got time. onboard 37 new people, with 74 new devices. does anybody have any questions? and just as many questions. shut down a storm of ddos attacks. protect

. >> all right, citigroup surging after news berkshire hathaway is taking a $3 billion stake in the companyeing its best say since november of 2020 mike >> so we saw more than two times the average daily call volume. usually trades closer to 57,000 contracts and the most active ca calls were the june 50s. we saw a substantial amount trading just around $2.80. buyers betting it's going to end up above that $50 strike and that would put the stock at or above the highs we saw in mid april. >> tim, what did you make of this buy >> i think it's interesting. i think banks have been overly beaten money center banks have overperformed here i saw that the texas capital guys regional banks rang the nasdaq bell. if you look at the un underperformance of regionals, i think that's overdone, too especially in regions like texas where you have enormous growth i think kre over kbw i think money center banks look interesting here again, in the environment where people are reassessing and saying credit's not going downhill overnight, we priced in a lot of bad credit here >> thank you for more, tune in to the

. >>> welcome back berkshire hathaway way making interesting moves to say the least.jim paramount. >> incredible. >> one of the best stocks in the market last i saw up 10%, maybe more than that. what do you think? oh 15%. the oracle on your side, jimmy. >> you know how it goes. buy paramount. nobody cares warren buffett says buy paramount and the market cares i don't think anything changed fundamentally, this is a 12% position and means that much flow is effectively out of the market he is not going to sell that not any time soon, i don't think he will lend it to short sellers. he seems to be saying that he believes in streaming and that this is a winner in the streaming wars i also want to point out this is likely not warren, it is ted weather, the anointed heir apparents. >> the only thing i would say is that we are always careful the way we frame the fs that come out. they're always backward looking. you don't know the state of someone's position and what was the buffett play book of years past where you hold, buy it and hold it nearly forever may not be the case a

citi's main run was fueled by the disclosure by berkshire hathaway that it had taken a $3 billion stakef on monday jpmorgan increased its guidance in terms of net interest income which is an important profitability metric for banks like citi and jpmorgan they're helped by higher interest rates and the market had really been trying to assess kind of the push and pull between higher interest rates, which are a tailwind for that type of a business, and just the issues surrounding the economy, the risk of recession and so forth for much of the year, at least since mid-february, it's this idea that the recession risk was front and center for bank investors. this week that really flipped and you can see in the week to date performance, jpmorgan up 11.5%. bank of america up 9% for the week wells fargo up 10% that's because rates are back in the forefront for these investors and just the benefit that it could serve for these banks and the potential that recession risk has at least abated in the near term, and that's kind of the comment that jamie dimon and gamjames gormand jane fraser are all a