what does charlie munger say valeant?a >> he spoke a lot about valeant's practice of getting the treatments and raising prices. in addition to being the vice chairman of berkshire hathaway and one of warren buffet's longtime business partners and friends, he is also the chairman of hospital in los angeles, where he lives. he said he had seen up front what he called price gouging valeant by -- price gouging by valeant. for him, what that signaled was a littles that maybe long term would not be sustainable. he really is not a fan of their practices and thought that they used -- the word he used was gamesmanship -- to help boost their profit. he just wanted no part of it. betty: he wants no part of it. itt come- valeant's back to life. it was not moral the first time, and the second time it is not better. he says i am holding my nose. >> that was actually a comment he made back in march. he has been critical of this company for quite some time. that was at a meeting he held with investors in los angeles back in march. that i

warren buffett's buddy charlie munger was asked what did he think about it?id, quote, too aggressive in ignoring moral considerations in the way it did business. ackman has spent the past two weeks defending the pharma giant against allegations it inflated revenue. 73% from august highs after short sellers started swirling around it saying it had questionable, all kinds of questionable things going on in the books. coke has mostly traded sideways this year. valeant having a lot of trouble. i believe bill ackman lost more than a billion dollars on paper with that investment. >>> mcdonald's, what a great couple of weeks mcdonald's has been having. it is just backing off all-time highs that it hit yesterday when it was just a penny shy of $115 a share. ceo steve easterbrook told neil how he scored after four back to back quarters in the red, listen. >> the first thing we set out to do seven or eight months ago was to inject a new sense of urgency in business, and i said the pace of change outside mcdonald's had been quicker than the pace of change in. that's not

the hawkeyes -- the head hawk -- kirk ferentz was named one of the 18 sesefinalists for the george munger collegiate coach of the year award -- the winner will announced will be last look at the road warrior near urbana on i-380 southbound america's never been a country of quitters. it's not who we are. we don't ignore threats like clilite change. we f fe our problems head-on. with american-made clean energy, we can end our dependence on foreign oil... spark new innovation... and create millions of new jobs. solving our climate crisis starts with 50% clean energy by 2030. >>> inside sofia and joe's wild wedding preparty just h hrs from

and then charlie munger taking on ackman here.cute little fellow. >> he really is. >>> the yield on the 10-year note now around 2.3%, a big jump in the past month as the market prepares for the fed to raise rates. so which stocks do well in a rising interest rate environment? and which don't? >>> plus, lasers pointed at helicopters flying over new york city. we'll show you how that turned out when "power lunch" returns. moves the world forward. invest with those who see the world as unstoppable. who have the curiosity to look beyond the expected and the conviction to be in it for the long term. oppenheimerfunds believes that's the right way to invest... ...in this big, bold, beautiful world. i'm a senior field technician for pg&e here in san jose. pg&e is using new technology to improve our system, replacing pipelines throughout the city of san jose, to provide safe and reliable services. raising a family here in the city of san jose has been a wonderful experience. my oldest son now works for pg&e. when i do get a chance, an oppo

when he goes out -- or charlie munger in this case, his number two -- criticizes valeant, which is ownedill ackman owns a huge chunk of, and as you know, valeant's under pressure right now, ackman goes out and says, okay, look at all the garbage that you own, incluing coca-cola which, by the way, cribs to obesity -- contributes to obesity. soda's not exactly a health food. and as much as i have problems with stuff that bill ackman does, he has kind of a point. now say you. liz: oh. i'm just listening to you because this is manager that anybody who's -- something that anybody who's ever covered buffett hears constantly, that his folksy image belies the sharp elbows, but wall street thinks he's a phony? he saved goldman sachs. he gave them -- >> he didn't save them. liz: he gave a lot of companies -- >> how much money did he make out of that? liz: more than 500 billion. >> okay, so he didn't do it -- no, you had the best quote from warren buffett ever. he madsomething hike that? liz: yeah, something like that. >> so that ooh's not really saving, he made a killer of an investment. liz: hey,

charlie munger says it is in a moral company and he's against it.gainst it. we may see a bit of a dead cat bounce today. stephanie: we want to talk about banks for a moment. gotten third-quarter results from both u.s. and european banks. it's time to give them a report card. isding their performance davide serra. let's talk about who you speak plain vanilla and have really found their groove. wells fargo. >> i give them an a plus. the reason is because if you look at the global institution, it's the only one that remains extremely focused. earnings growth is consistent. vis the stronger vis a financial crisis and managed to increase tangible equity. so to me it remains the strongest franchise. and how well they have managed to capture domestic synergies. why does that banks seem to be so much more disciplined in its focus than the others? isi think the key reason because it's one of the largest and never had an investment banking seal. that has to do with corporate culture. of theent banking ceo old generation were failed hedge fund managers who wan

with his also spoke partner, charlie munger, who said -- he basically said he is holding his nose againstant? noah: exactly. charlie had been criticizing when i sawk in march him speak in los angeles. i got in touch with him over the weekend. he really reiterated those concerns again. say, significantly, that he did not think it was an enron type situation. betty: noah buhayar of bluebird news. tomorrow, staying tuned to my interview with buffett's son. ♪ littlelet's start the work first word news this morning. courtney has more from our news desk. courtney: search teams in egypt's peninsula have finished combing the area where that jet crashed on saturday. it appears that an external impact brought the plane down. rejects the idea of pilot error or technical issue. all people on board were killed. u.s. safety investigators may have found the wreck of the cargo ship that disappears into the bahamas during hurricane joaquin on october 1. on board.were investigators using sonar on the ship 15,000 feet lodi ocean's surface. they are waiting for confirmation. areu.s. and south korea expressin

charlie munger unleashed. warren buffett's business partner rips valley and -- rips valeant. vote yes in turkey. what does this mean for president aired again, despite the victory in turkey's future? david: welcome to bloomberg go. i'm david westin. stephanie: we are coming off a big weekend. we brought in a big team this morning. joe weisenthal, and michael purves. david: when you say a big weekend, you mean for you. much bigger than mine. stephanie: it is not because i ran the new york city marathon -- clearly i did not. we are new residence on the upper is