, were there investments that you were led specifically to by munger or munger's thinking, at least, when you are thinking about going in? >> yeah, well, he -- i wish i had followed him more closely. i sort of followed the first part, because he was very clear, very clear thinking about investing in high quality businesses, even if you have to pay a little up for it going in, and that led me to some of the greatest investments in my career, in companies like apple and mcdonald's and home depot and all, where i didn't control myself as well as i should have. i should still own those stocks today. thanks to charlie's teachings, i identified some of the greatest businesses of all time, but i wish i'd had more of munger's patience and owned them, you know, for a lifetime, because that's what he and buffett have done with their most successful investments. >> whitney, it's interesting, you are a disciple, clearly, you've had a great career, but you know, i listen to mr. munger talk about giving back and mr. buffett, as well. you've done that, as well, and my sense is, there are a lot of t

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 1962, he and a group of attorneys founded munger tolls, known as munger tolls and olson, a prominent law firm. munger grew up in omaha, nebraska, and as teenagers, they worked at buffet's grandfather's grocery store, but not at the same time. it wasn't untilt buffet was in his 20s and munger was in his 30s that they were introduced to each other. >> we had dinner together in 1959. in five minutes, charlie was rolling on the floor laughing at his own jokes. >> reporter: they spent hours on the telephone, talking investments. 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 cong

it wasn't un-tull 1978 munger formally joined buffett. he was a major influence until t from the time they first met. munger, however, didn't limit himself to just berkshire. he was chairman of wesco financial from 1984 until 2011 when it was totally assimilated into berkshire. during those years he was known for his deadpan humor and shareholder style. after that he grew his fans to another investment, the daily journal. >> charlie, one of my favorite lines with you is you want to hire a guy with an iq at 130 who thinks it's 120, and a guy with 130 who thinks he's 170 would just kill you. >> you must be talking about elon musk. >> i needed to get ahead and make comedians idiots. there's a large supply. it's disgusting. it's like somebody else is trading turds and you decide i can't be left out. >> charlie is big on lowering expectations. >> absolutely. that's the way i got married. [ booing ] >> my wife lowered her expectations. >> for munger, money wasn't everything. >> all you've succeeded doing in your life is get early rich from pass

in 1962, he and a group of attorneys founded munger tolls, now known as munger tolls and olson, a verybuffett, grew up in omaha, nebraska, and as teenagers they both worked at buffett's grandfather's grocery store. not at the same time as munger was seven years older. it wasn't until buffett was in his late 20s and hmmunger in hi mid-30s that they were introduced too each other by mutual friends. >> we had dinner together in 1959. in five minutes, charlie was rawling on the floor laughing at his own jokes and i do the same thing. >> reporter: they spent hours each week on the telephone, talking investments. >> i met charlie. he was practicing law. i said that was okay as a hobby, but a lousy business. and so he -- >> fortunately, i listened. >> reporter: from 1962 to 1975, munger's investment partnership produced a 19.8% compound annual return versus just 5% for the dow. it wasn't until 1978 that mup munger joined berkshire as chairman. but his approach to investing was a major influence on buffett from the time they first met. helping berkshire hathaway grow into a multibillion dollar

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

munger.ultimate short panelist at the meeting of berkshire hathaway and you lit up the investment world with sharp conversation. what did charlie munger mean for warren buffett? >> first i just want to say it's great to be honoring charlie munger. this was a beautiful friendship, and exquisite love story. far more complicated than ryan o'neal and allie mcgraw. it was a six decade of two great friends and investment minds. to of the greatest investors of all time. he was a compendium of reason and value. like my friend howard marks, we worship at his altar. warren buffett held his tongue but charlie could be defiant. they were both very blunt and both very brilliant. i think charlie was far more intelligent. he considers himself the smartest man in the room but he was. he had no patience for idiots and told most people they were idiots. the question you're leading to, what were the consequences for berkshire hathaway? there has been on line of succession established and charlie munger mentione

. >>> 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

buffett said that he and the munger never quarreled, and if opinions differed, the munger, using hisrisms, 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 munger always made him laugh. charlie munger died in the city of santa barbara, in california, he himself would probably joke that it was quite a long but memorable series. ilya, i have everything. thank you, denis talolaev with his economic review. in turkey. is investigating the brutal murder of two russian women, the bodies of the mother and daughter of a teenager were found the day before in the resort town of bodra, according to local police they became victims of the woman’s ex-husband, in russia this man is wanted, according to relatives of the deceased, he repeatedly threatened the woman with violence, trying to take away she has a son. ilya ushenin summarized all the latest information on this high-profile case. personnel filmed on the outskirts of turkish bodrum, police rescuers retrieve

buffett said that he and the munger never quarreled, and if they differed in opinion, the munger, usingwarren, think again, and you will agree with me, because you are smart, and i'm right. buffett said that after each such call he became a little smarter, and munger always made him laugh. charlie munger died in the city of santa barbara in california, he himself would probably say something like, it was quite a long time series, but memorable. that's all i wanted 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 whet

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

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

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. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now. >>> hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people want to make friends. i'm just trying to save you money. my job isn't just to entertain but to educate and teach you. call me at 1-800-743-cnbc. or tweet me @jim cramer. as the late baseball great yogi bear once said about a red hot restaurant, nobody goes there anymore, it's too crowded. even on a solid day where the dow only gained 84 points, s&p edged up 1%. nasdaq up. these stocks, six of which we owned with the trust for some time, which you can follow by joining the cnbc investing clubs. the ratings of alphabet, microsoft, nvidia and tesla, so why wouldn't the index swing with them? let's go back. you have to wonder why so few people ac

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

mr munger was 99 years old. to news about the environment now... 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 has a strong statement about what needs to happen climate catastrophe but now we're into political phase where countries have an opportunity in dubai to look at their commitments. so execs looking at quantitive timelines and targets which will help get warm and well below two celsius. irate will help get warm and well bel

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

munger reflect and hi almost 100 years on this planet like his business partner warren buffett mungers 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 ism needs big strong tough elements of that in it. >> why capitalism is the best system and why it works. him talking why you need a little tough love in

even as his partner became a worldwide celebrity known for , and wide as the oracle of omaha, munger'sould outlast buffett's star power. i don't think anybody is essential, given the momentum we now have in place. >> he did not overstate his importance either. there were two senior executives affirming the company's commitment to a succession plan. david: warren buffett takes the bulk of the attention we talk about berkshire and how successful that core investment philosophy has been, and i just took this from the annual report. 3,000,800%, and a lot of that is thanks to charlie munger. yvonne: and he had his 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 sa

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 groupf showa -- shift 4 paymes. has up nrly % for november how do you like that? shift 4 payments! first one is datadog.

haidi: remembering charles munger who has died at the age of 99. warren buffett, becoming a billionaire in the process. he was seen as a straight shooter who could say to buffett, you are not thinking straight. and in his own right, he had his own fan base. crowds would turn up whenever he would come to speak. he jokingly referred to his supporters as rupees. he never quite rivaled warren buffett in terms of worldwide celebrity, but he did have that following in his own right. lots more to come here on "daybreak: asia." this is bloomberg. (jennifer) the reason why golo customers have such long term success is because we focus on real foods in the right balance so you get the results you want. when i tell people how easy it was for me to lose weight on golo, they don't believe me. they don't believe i can eat real food and lose this much weight. the release supplement makes losing weight easy. release sets you up for successful weight loss because it supports your blood sugar levels between meals so you aren't hungry or fatigued. after i started tak

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

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

munger was the longtime friend and business partner of warren buffett and an institution here on cnbc. >> i could have done a lot better if i had been a little smarter, a little quicker. >> what are you talking about?! you've had success in everything you've done in life. what would you like to do differently? >> well -- i might have had multiple 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 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

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

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

that is a nice sort of buffett-munger style picks from jordan kimmel.new york yankees shortstop derek jeter joins us to talk about how he is knocking it out of the park with his brand. market is mixed. larry: hello, folks, welcome

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

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

that is a nice sort of buffett-munger style picks from jordan kimmel. [closing bell rings] former new york yankees shortstop derek jeter joins us to talk about how he is knocking it out of the park with his brand. market is mixed. larry: hello, folks, welcome to "kudlow." i'm larry kudlow. in a moment we'll have a washington report from the great peter doocy, and other related news and senator eric schmitt will be here to tell us about the republican senate meeting with house speaker mike johnson son. later on in the show we'll be talking politics about the gavin newsom, ron desantis debate own sean hannity. i think it is tonight? is it tonight or tomorrow night? anyway it is coming up on sean hannity. steve forbes will be here to lament the worst wave of anti-semitism since the 1930s. first up, let's talk about the economy for a moment and the fact that the biden administration as always cannot tell the truth about the american economy. now this is a long-suffering movie we've all seen many times before, just to refresh here is white house press secret

. >> had to ask inharlie munger's honor. >> thanks for having me. >>> coming up, witcybermonda outping blk friday in tes of sale, how are rail reits navigatinghe seaso plus, omlamming sam to waing ab, evyone is muskaid at yesteay's summit. we'll bring you the hilights anthe fallout from companies ranging fr microsoft to tea. as we go to eak, the averages are on track to sn a three-month losing streak. the nasdaq is up 1. best month since the summer of last year. the dow, helped by salesforce its highesleveof 2023 with an 8% gain for november. back after this. trading at schwab is now powered by ameritrade, unlocking the power of thinkorswim, the award-winning trading platforms. bring your trades intoocus on thinkorswim desktop with robust charting and analysis tools, including over 400 technical sties. tailorhe platforms to your unique needs with nearly endless customation. and track marketrends with up-to-the-minute news and insights. trade brilliantly with schwab. >>> welcome back to "the exchange." the clear winner of the holiday shopping season so far, online sales, which surged on

we pay taxes for you to fix potholes, not to munger wars. enough is enough. >> this area, you can see as well, the big crowds, neil. lots of nypd officers that say they're going to remain on high alert. one of the issues is the planners don't tell the nypd where they're going to go, how long this is going to go on for. we've seen them block traffic. they shut down parts of a bridge. that led to major issues for officers. they're going to stay on stand by and continue to talk to people to see why they're here and what they stand for, neil. >> neil: thanks, alexis. she's just right around the block here. meantime, we want to take you to southern israel, what's going on there. they are now continuing to target hamas forces. so when you hear a lot about these four-hour daily pauses, that does not mean a pause in all of the fighting. let's get the latest from jeff paul in sderot. jeff? >> the fighting is going late in to the night along the israel gaza border. we've been standing here in sderot for the last couple hours. you can sear the booms of

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

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

munger gave a q&a to the "journal" last weekend where he gave a 50/50 chance they bag an elephant givennflated prices across the board. >> it's possible, and that's a very sound view. i still think it's difficult to get a deal done. i know that berkshire hathaway, you would think that there's no overlap to what they might buy, and they'll be sensible about it, but the ftc is not sensible. and we haven't heard from them lately, but they've really wrecked -- they've wrecked the m&a market. when you look at amgen, how long it took to buy horizon -- by the way, it's a very good deal. people don't seem to think so. it's still early. i think the chilling effect is just astounding. the fact that you have to go to court to do a deal has made it so it's just, for most -- i deal with a lot of m&a lawyers, and they say the same thing, which is, sorry, unlike the bankers, we don't get paid on the deal, and there's -- she won't go for it, lina khan. and the president is not a pro-business president. m&a is bad for workers and good for capital. any time you see something bad for workers, good for cap

. >> 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