mr. buffett. distinction of the headlines this morning at what is different than six hours ago? >> berkshire hathaway's involvement in this is very important. he's done deals with 3g before. his involvement in these kinds of deals, it gives an extra clout, and next level of legitimacy. but that comes in as the long-term guy. it suggests that this is going to be a company that 3g guys and hold for some time. tom: do you would just assume he will do like he does with every other one and give a preferred coupon? eight: him and 3g are -- ed: him and 3g are, we think they've all this for a long time. he has some strong brands that go with this obviously behind stuff. -- the heinz stuff. olivia: if it's going to be just like heinz, then there could be some job losses and plants going -- closing down, because that is what 3g is known for doing. are they trying to build a condiment empire here? ed: they are already on their way to doing it. they are the burgers, the ketchup,. olivia: think about the buyin

mr. buffett for berkshire but more importantly 3g people who run these companies.ut they will do another deal although i'm told it's going to be a while. >> a very large corporation that they are merging with. and it will take quite a while to realize all of the synergies and deal with all of the cost cuts apparently that they're going to. the zero base analysis that they do every year at 3g with their company. some say we're zero basing. hp's doing that as they do the split. mondelez with reid rosenfeld, they do it once costs rise again. they do it every single year. >> when i recommended it as a breakup play i thought was well in excess where it was a year ago and that's because you can sell off a lot of the brands. let's go over some of the brands. general mills bought annie's. why? in order to attack craft mac and cheese. why did horizon decide to brand its own version of lunchables that looks like oscar meyer? people want natural and organic. look at the assault this company was under and then you look at the heinz management and they can say, we don't want to

mr. buffett and i have a different opinion on ibm. i certainly respect his opinion. but i have my own.ng at the situation, kelly, he thinks ibm's problem is cyclical. i think it's secular, and if you think a company has a secular problem, particularly with sales being lower than they were six years ago when the economy was much worse, the last thing they should be doing is buying back stock. but if it's a cyclical problem, i'm sure it will work out. but the market will ferret this out and one of us will be right and one of us will be wrong. >> what about some of the names you do like here? where do you see value? >> well it's interesting because you mentioned i was long risk. the lion's share if not all of that on a net basis is not in the united states. i have positions in the united states, but net-net because of the valuations we talked about and because i'm encouraged by what i'm hearing out of the fed in terms of them tightening, i'm not all that excited about the u.s., but i do have large exposure in japan and europe. both those markets are not only cheaper than the u.s. they hav

mr. buffett has quite a consolation prize. berkshire hathaway has more than a dozen newspapers. governing council is committed to starting its first asset purchases next week. welcome back to the bottom line. good to see you again. the ecb president, mario draghi, discussed the extent to which the central bank may by government bond with negative yields. policymakers did leave the rate at -2/10 of a percent today. what is your reaction to his remarks? >> i think the most surprising part of those remarks was how bullish he was in terms of their ability to solve the deflation problem and how the assumption was that all of this was going to work. well, good luck. i suspect it has taken a lawful that's an awfully long time -- i suspect it has taken an awfully long time. i suspect we will be back again saying this will be going on for longer, will have to do more of it. they really don't know what the effects of these policies will be. a little late and it will be on for longer than you think. >> did mr. draghi have another viable alternative to bond buying? did he take a page from t

buffett. we've been talking with mr.about his investments, because we've seen the fcc filings, warren that show the latest purchases and sales you've made in stocks and securities. people very interested about that. one new -- not a new stock but one you definitely added to your position i think you went from $360 million in deere at the end of 2014. what attracted you to deere? >> it's a good company and they're going to have some tough years coming up and in the end ten years from now it will be worth more money than it is now. and that stock actually was bought by one of the other managers and me. i mean that was something we both bought. >> that actually leads to a question from twitter. someone wrote in how do we know if it's you, todd, or ted who is buying a selling a position. how does anyone know? >> they don't. yeah. ted and todd are separate portfolios. they occasionally buy the same stock themselves. they might occasionally buying a stock that i would be buying. i don't look at their tickets every day. i do no

mr. buffett had followed my advice, he had gotten out of the market with all his holdings in 2007 as we advised clients to, and he would have bought back in june 2009, as we advised our clients to, and he would be billions of dollars ahead today. >> i won't cry any tears for his billions loss. he knew enough to make a loan with goldman sachs. is your strategy just when you think when we're peaking at the top of a market, which is what a lot of people say we're at now? >> well, when the market is at all-time highs, that's when there is the most to lose. you know, it seems -- investor psychology is kind of backward. it's like, when the market is running and setting all-time highs, everybody feels confident and gets complaivment. whecomplaisment. it's the other way around. when the market is at all-time highs, that's when you need to think, look how far below i can fall. i don't want to do that. i want to protect the gains i've built over the last seven years. and, you know, people that are retiring soon, they can't afford to lose 50% in the next bear market again. it will delay when you retire or

mr. buffett about. i reported on previously which is a group of hedge funds that control -- i think it's 31 million shares that have harry wilson out front. the gentleman, of course a restructuring expert who was also part of the team advising gm treasury sometime back who has been a longtime shareholder in gm. but would stand, of course to either earn 2% or 4% depending on whether he is actually on the board of the appreciation in the shares owned by those hedge funds whom he would be their nominee. now, it's unclear whether approxified is going to follow and the permission he has to get, but that being said they may allow that to occur. they may continue to go ahead. and it's funny, when you talk to some hedge funds, they're very much in favor of the idea of this. whereas some institutions give it pause. here's what mr. buffett had to say. >> i totally disagree with the idea of putting somebody on the board who has an option on some other people's stock which is only good for two years. to have somebo

mr. buffett's shareholder letter and berkshire hathaway writ large, they have a diversified portfolio ofpanies that touch all segments of the american economy, and what he says about the economy is generally true. he's getting surveys and reports back from his operating companies, and what he's said is that the economy is operating pretty efficiently based upon what you hear from those segments. you've got to read the letter, you've got to pay attention whether you're a shareholder or not. liz: great to see all of you. you guys are all watching for nasdaq 5,000, right? we'll see if that happens. [laughter] we have a fox business alert, back to back years of bumper crops, that breaking news has led to a glut in much of the grain market, and that's going to affect everything from the price of bread and cereal to the numbers of tractors and heavy pharma chienly own. which -- farm farm machinery ow. jeff flock joining us from illinois with allendale's senior trading adviser jim mccormick. >> reporter: liz, it's not just about the farmers and the grain, it is about those stocks. take a look a

mr. buffett take kraft-heinz -- brendan: why doesn't he just by italy?hter] tom: why don't they just take whatever they are going to buy next and refi it? >> this is why you are seeing this wave of buybacks. it is free to borrow money. tom: it is free to borrow money. this is record low italy two-year trading worse than japan. >> germany is up to eight years. olivia: negative. >> you have to pay for the privilege of loaning to the germans. tom: you should call and say, let's refine the whole thing -- refi the whole thing. brendan: i wonder if i can call warren buffett about my mortgage? [laughter] olivia: coming up, the conversation continues. critically acclaimed sushi knock as i want -- nakazawa is one of the hardest restaurants to get into in new york city. i visited. ♪a few things were off-limits. >> i don't want you to touch my knife. ♪ tom: good morning, everyone. i am going to call it a moderating tape right now. the market is clearly on the move, with oil elevated. let's get to a stormy single best chart. brendan: no major hurricanes made landfal

mr. buffett that education can't change this completely.connect education with aspiration which is what we're doing. i'll announce something this morning to lift up young people and connect education to a job or job creation. so aspiration and education. number two is small business creation. and number three is giving people more of a living wage argument, not a minimum wage argument. >> so how are we supposed to think about what people say is the growing gap. does the gap unto itself matter or is it really about what we do at the bottom? >> it's the hope gap. it's what matters. it's the literal gap that people argue about. statistically this way, or not in the danger zone. that's not true. when people believe their children won't do as well as they did, then america is in danger. when you lost your hope you become not skeptical, you become cynical. now you don't believe what your politicians say. you don't believe what the newscasters say. you don't believe anything. and you don't believe in yourself. and you start to have a confidence pr

mr. warren buffett, when they bought heinz subsequently led to layoffs or firings of about a thousand people. when you look at 1.5 billion kraft and heinz say this merger will save going forward, come 2017, analysts like meyer shield at keefe bruyette & woods, think you will only do that by firing people. here is the quote. it is press release version saying they will fire people. when you look the fact the deal is not accretive until 2017. that tells me it is only accretive after all efforts to reduce expenses. that is what 3g does. they have quite a history. to go through the timeline. in 2010 they bought burger king, $4 billion. 2013 they bought heinz. then in 2014, this was a big headline, they took burger king, bought tim horton's, everyone thought this was a tax dodge because it is headquartered in canada. that was $11 billion deal. they formed restaurant brands international with burger king and tim horton in december 2014. now 2015 they're buying kraft. hinds is buying kraft. all about the food. cheryl: big food merger. don't mess with my mac and cheese prices. david: by the way you

mr. warren buffett who had taken heinz private a few years ago. deal but worth noting that the stock has continued to go higher and analysts' notes are coming out with a new rating $80 to $90 per share. that's sort of where it is right now. >> my pick is the one i meked mentioned earlier, dr. pepper snapple. sun drop apparently rocking it. dps. >> it's actually the domestic play with the currencies but thank you. >> sun drop rocking it. sun drop. >> before we get -- >> brian hunter-reay, indy car. >> a blast from the past brian sullivan. let's talk about other march madness because we've got to get -- >> i think we've run out of time. >> i'll do it on "fast money." >> no then i can't defend myself. i said west virginia would win. i was horrifically spectacularly incorrect. >> wrong. >> but on "fast money" we'll do it with stocks and match up nvidia and intel. >> thanks for watching, everybody. have a great weekend. >>> yes, hi and welcome to "the closing bell," everybody, on this friday. i'm kel i evans. >> and i'm bill griffeth. by any stretch of

members i'm worked at laguna honda for 20 years i'm not an expert in vvl but warren buffett is and george sorry is and mr. cal per if they don't recommended the pensions to be into hedge funds i know this is a bad idea putting citywide i aside any ethnic issues regarding the hedge funds like transparency and the connections with with payments just think about this the doubling of the foes for investing in hedge funds and the 20 percent extra charge for profit we city workers will be left in taking the risks with hedge funds and the profit will go to hedge funds for sure today, the members have the opportunity to do the right thing those who support vvl in hedge funds are really irresponsible i urge to you vote no on hedge funds investments thank you (clapping.) >> mr. vice president and board members i'm cynthia an official court reporter the may pitifully of 2013, the that they were to provide protecting and moderate income housing no to maintain the diversities the findings in the planning code section in the stay and city address mayor ed lee stated starting this year we're under the down assistance p

buffett, a $40 billion billionaire, gets his health care subsidized. i ask that you support this and i yield back. the speaker pro tempore: the gentleman yields back. the gentleman from massachusetts is recognized. mr. mcgovern: i yield two minutes to the gentleman from california mr. bera. the speaker pro tempore: the gentleman is recognized for two minutes. mr. bera: this is an important step forward. for over a decade we've had this flawed formula that has put the security of seniors' health care access at risk. now, i want to applaud dr. burgess, i want to applaud the bipartisan doctor caucus. you'll hear from a lot of doctors in congress that this is a step forward, because when we took our oath to practice medicine we took an oath to put our patients first and this is a good bill that puts our patients first. our seniors folks that have worked their whole lives and now in retirement need that security of being able to see their doctor and this bill repeals a flawed formula that's been patched for 17 times over the years and replaces it with a better formula, a formula that moves us away from this fee for service model and moves us towards practicing higher quality care putting our patients fi