david: is that as important for sam zell the investor as sam zell the citizen?ell: i answered your question asked sam zell the citizen. i have rarely made the distinction. and rarely have ice in any segment -- have ice in any scenario where the citizen's views go against what would be beneficial for sam zell is the investor. david: how does the foreign policy really affect investments? decisions about what to invest in or not invest in? how does it affect you? example, we have significant investments in mexico. we think that is a very important issue for this country. and i think the sooner the discussions began, the sooner we lower the rhetoric. you know, a very significant portion of our trade. it is something to be worried about. vonnie: that was real estate investor sam zell of equity group investments earlier on bloomberg. hfo bloomberg first word news. here's mark crumpton. mark: the department of justice is wasting no time looking for interim fbi director to replace the fired james comey. the interim director will have the job until the senate confirms a

sam zell will be joining us. the world according to sam in about 20 minutes.re watching bloomberg. ♪ emma: i am emma chandra. coming up -- federal reserve vice chair at 11:30 a.m. eastern time. ♪ emma: your business flash. the royal of qatar wants to boost stake in deutsche bank to more than 10%, according to people familiar with the matter, a signal they are seeking greater control. requestde at the several months ago. earnings at disney hurt by the boost profits,to espn reported the sports network key to losing subscribers and paying more to televise games. the ceo said he is not worried. >> we are feeling very optimistic about it. the reaction suggests otherwise but that is not the case for us and will take the steps to contend with it, it is not something we are just getting too. something we have worked on for a number of years. people should look at espn in a positive way and not a negative way and think about how mobile devices are being used. emma: overall earnings better than expected thanks to fame parks and movies. that is your business flash. jonat

sam zell. where do we want to go now sam?x, seven, and eight and people that were watching at six, they're a whole new group of people watching at 8:00. let's talk about some of the things that we've already talked about. a lot of times it's helpful with a guy like you, who's made so much money over so many different business cycles, i mean you're the mather of selling, selling when it's time, buying when it's time, and normally nobody else is doing it when you're doing it. you mention -- so a year and a half ago you sold $5 billion of multifamily stuff, right? who did you sell it to? what was -- >> we sold it to barry -- >> how they doing with it? >> i think they're doing very well with it. we expected them to do very well with it. from our perspective, equity residentials started out as a multifamily company based in suburban garden apartment project, beginning around 2000. we decided that we needed to shift and become a cbd company. over the period from 2000 until a year and a half ago we were slowly making the conversion.

sam zell, a man the needs no introduction. we'll be right back. this is bloomberg. ♪ you and sam will be taking the stage together at the conference. and not too long in fact. what we talk about? sam: i don't know. whatever mark wants to talk about. >> mark hamill you want to talk about? don't know, anything sam wants to talk about. [laughter] >> let's talk about some of the things that you guys both like. emerging markets, a big part of your business, sam. mexico, with venezuela and latin america. if we look overseas, india, north korea, what should we begin with? you know what, let's begin with north korea. sam: ok. i think it is one of the examples that the fact that we didn't deal with it 25 years ago, they kept -- we kept amending over to the administration, and now we are in a very threatening and difficult situation and i don't know what the answer is. it is as dangerous as any place in the world. mark: at the end of the day, we have to have a dialogue with these people. that is why i was pleased when trump said it was an honor to meet this

billionaire sam zell is no different. i hosted theanel withim, afterward i t down with the expert investor and pretty much the father of real estate investing. equities and much else. listen to what sam zell had to say about the economy under president trump and whether the current political climate change is the way he invests and what he's worried about. >> the perspective about the economy right now is that, you know, trump as a factor, has changed the equation, in october if you asked me, i would have said i thought we were in the eighth inning. i think maybe trump has generated extra innings. now how long that will last? i don't know, but the market's been going up since march of 09 so it's a long time. liz: you as an expert invest norreal estate and equities and everything else, you look at the situation going on right now with russia. calls for an investigation, investigations being launched. does it change anything that you do when you invest? >> certainly makes you very cognizant of the political risks in any sit

i will talk to sam zell and mark mobius where they are looking like now. not in the u.s.. >> right. we should point out that right now, say what you want about the trump rally, right now the a lot of action is in overseas markets. liz: yeah. >> mark mobius will be telling you that. mexico is doing very well right now, stocks from mexico. telling you that sort of global perspective is something that investors will definitely need. we'll get some of that here. another perspective what is going on at twitter. did you see what happened today? liz: yeah. >> cofounder of the firm came back, this guy biz stone. is that his real name. >> b-i-z. biz stone is back. yes, the stock is up 2% on biz stone being back. here is the rub, liz, nobody really knows what this guy is actually going to do. and here what is the other thing is. when i talk to investment bankers doing today on this news, they say this doesn't change the metrics on the sale. one of the things we were talking about, you and i were extremely skeptical of cnbc's reporting that thing would be imminently sold. we gave in

he is sam zell. we don't want you to be subtle now. why is warren buffett wrong?> well, the reality is that warren buffett is one of the richest men in the world because of a giant tax break, which is that he's made a fortune and instead of markets to market at the end of every year and paying tax, he gets to roll it forward. liz: meaning his capital gains. wants to raise everyb income taxes. >> he doesn't pay until he sells. liz: right. >> by virtue of not selling. by the way, i'm no different. nobody whose ever accumulated any serious wealth in this country has done anything other than allow it to roll forward, not have to pay taxes on an ongoing basis. i don't know why warren buffett feels the need to make the kind of comments that he's making. i personally think that the health care bill is hardly a gift to the rich, and it's a long way from being anything, they think is passable. liz: do you think warren buffett is being honest about this debate? >> i think that the kind of comments he's made have fit into the pattern that he has exemplified over the last eig

but when the crowd goes one way sam zell goes the other. what do make of that?e have two market watchers. heather, you're looking at this, seeing this, and saying what? not to worry or what? >> well, as you stated, neil, the vix, the fear indicator so to speak. neil: is usually a bullish sign when it is at all-time lows. that there is not a lot of volatility and panic ith marketplace right now but i'm actually going to take the opposite stance here because it is at all-time lows but we've had an amazing week of all of these macro events from policy out of washington to french elections, a great jobs report. so for volatility to be this low, it's almost a little bit eerie. the calm before the storm. neil: yeah, you know, it depends when you place it. 1993, if you think about that was right when bill clinton was taking over. and there were dour forecasts for the dow. then we know what happened after that.it took some years here but could be presaging continued good times or it could be presaging the opposite. where are you on this? >> well i got to tell you i'm ki

the daybreak america's team spoke with sam zell.e about the challenges europe faces after emmanuel macron's victory in the french president race. singi don't know if i see -- big problems, i see a lack of solution. todayou talk about europe , you start by asking the question, where does the demand come from? europe is doing better today than a year ago but maybe that is comparable leprosy and cancer . both an issue. only a question of how far along. i think europe has to deal with where is the demand going to come from. they have created a society where work is not at the top of the list. ifon't know how you excel you don't have a motivated workforce and a motivated population. >> where does the demand come from? has pullback from the margin, will it be from the periphery, does this still have to come from germany, from the core? i disagree with what was said before. demand has been coming through the last couple of years. of pent upenty demand in the euro area currently which is yet to be realized. we have the highest rates of job

joining us billionaire real estate investor sam zell, his book out today, "am i being too subtle?" earlier today on cnbc, which was that you think we have an administration now that is pro business and america has gone from anti- to pro business. explain that. >> well, i think all you have to do is lookt the cabinet for eight years. e cabinet had, i don't know, 4%, 5% business, you know, influence of some kind. now it's 50 some odd percent. i think what i said on cnbc this morning was, bill clinton's motto was, it's the economy, stupid. and if the economy is what governs everything, then we have to have pro-business people in the white house encouraging the growth of the economy and the creation of jobs. >> do you think that's why the markets are going up and unemployment rate is going down? >> i think the markets are going up because there's a lot of enthusiasm. i think unemployment is going down as much as the fact that we're under employing a lot of people. a lot of people with degrees are waiting on tables. so yes, employment has increased dramatically, but not the quality. >>

you have stocks sitting near record highs and best men like sam zell saying we like the president. >> the president would stick to tax reform and economy and build business and create jobs, he would be fine. >> there is one worry. >> these are self inflicted wounds. >> will they put him further away from tax reform? >> it hurts his political leverage. >>> ahead, russian photographer rejecting claims by the white house that he tricked them by taking the photos of the president with two top russian diplomats. one an alleged spy. the latest on the dust-up ahead. what is that? it's you! it's me? alright emma, i know it's not your favorite but it's time for your medicine, okay? you ready? one, two, three. [ both ] ♪ emma, emma bo-bemma ♪ banana-fana-fo-femma ♪ fee-fi-fo-femma ♪ em-ma very good sweety, how do you feel? good. yeah? you did a really good job, okay? [ female announcer ] to nurses everywhere, thank you, from johnson & johnson. are you one sneeze away from being voted out of the carpool? try zyrtec® it's starts working hard at hour one and works twice as hard when you take it ag

. >> neil: sam zell, we'll have more after this.e i got allstate.? if you total your new bike, they replace it with a brand new one. so, kinda like your second husband. kinda. it's good to be in (good hands). >> neil: everybody has a smart phone, right? this one about a fight that broke out in a ft. lauderdale airport after spirit airlines cancelled flights. you know how that goes. trace gallagher, what happened here? >> you know what, neil? spirit airlines has never been to the top of the heap when it comes to service. when the weather is flawless and you're cancelling hundreds of flights, the worst customers get peeved. here's the deal. spirit airlines and its pilots have been in contract negotiations for more than two years. the pilot said the airline makes above average profits but the pilots make the lowest wages in the industry. the airline filed a lawsuit ag union accusing the pilots of engaging in an illegal slow down but not agreeing to work certain flights. spirit saying "these pilots have put their quest for a new contrac

. ♪ joining me for the hour is none other than the legendary real estate investor stand -- sam zell.rd from bruce , i thoughtrlier and -- i saw steve cohen walking run earlier this morning. we have a lot to talk about. about thetalked turmoil in the trump white house. this hour, i am pleased to say we will be speaking to mark --ius and mark lazarus he sry. la i would like to bring in julie hyman to tell us about the markets. julie: as you said,

and sam zell. we're watching "squawk box" right here on cnbc. mr.fett, back in a moment. go to protect your vehicle? i'm on it. ♪ ♪ ♪ weathertech. made right, in america i count on my dell small for tech advice. with one phone call, i get products that suit my needs and i get back to business. ♪ ♪ ok if you want to stay on top of your health, one simple thing to do -- is take the pledge to go and get screened for the cancers that might affect you. so stand up to cancer and take the pledge at getscreenednow.org it only takes a minute to take care of yourself, and nothing rhymes with "org"... box," everybody. we are live in omaha, nebraska, with berkshire hathaway's chairman and ceo warren buffett who is sitting down with us for his first interview since speaking to the berkshire faithful who made their way here. about 40,000 shareholders who were here in omaha over the weekend. warren, thank you again for sitting down with us. >> thank you. >> a lot of questions brought up by share holders this weekend. some them had to do with 3g, the investment fir

at 7:00 a.m., sam zell, and also also we will have chamath, he said yesterday he was converting in teslanvertible bonds. he will discuss whether or not he thinks a company like apple should buy a company like tesla or net flick. after the bell tonight we have disney earnings. we will have somebody talking about the media networks. a lot ahead in the next throw hours. >> melissa, thanks. >> ask about that ibm comment. >> the watson comments. >> absolutely. >>> still to come, the nasdaq and s&p 500 touching fresh records on monday. will this record rally roll on? >>> and catch lloyd blankfein's interview today at 32:15 easter. "worldwide exchange" will be right back. with type 2 diabetes a lower a1c is a lot about choices. but it can be hard sometimes, 'cause different sides of you struggle with which ones to make. well, what if you kept making good ones? then? you could love your numbers. discover once-daily invokana®, a pill used along with diet and exercise to significantly lower blood sugar in adults with type 2 diabetes. it's proven to lower a1c better than januvia®. invokana® works a

ash what is great for us, we have sam zell tomorrow. real estate investor on the planet. we will have him on the show right here from salt. we'll ask him about the commercial real estate cycle. mark mobius will be discussing with us, if you're too nervous about the u.s. markets, don't worry about it, i have got you covered on the emerging markets level. he will names which countries he likes. robin leach, life-styles of the rich and famous. ashley, a bunch of hedgies sitting on the edge of their seat with ben bernanke making comments that he doesn't usually do. ashley: nice to hear that he loosened up a bit in vegas. robin etch loo, hadn't heard that name very long. i love robin leach. >>> let's look at the markets as we follow the selloff. we briefly got down below 300. the low was 350 points to the downside. we've stayed for a while, down 1 1/2% on the s&p. nasdaq, big selloff down 13. let's get to lori rothman on floor of the new york stock exchange. been a tough day, lori. reporter: it has been a tough day, ashley. a lot of folks we

sam zell, thank you so much for being on the show. >> what a way to wrap it up. >> good luck with the book. >> that does it for us. you have to hold on one second. >> okay. >> okay. >> stephanie ruhle picks up the coverage. he wants to lead. >> he does. >> right now. >> hi, sam. all right. hi there, i'm stephanie ruhle. this morning much to cover, starting with firing back. president trump blasting congress for the russia investigation as nbc reports president obama warned trump about mike flynn and former acting attorney general sally yates hammered home her warning. >> you don't want your national security adviser compromised with the russians. >> in the line of fire, the 13 male senators charged with crafting their health care bill meet today, as republican house members meet fury in their home district. one congressman storms out of an interview. >> and i'm done. >> we haven't even -- >> this is ridiculous. >> and jimmy kimmel is back, after his emotional health care speech. >> i saved health insurance in the united states of america. i didn't? i didn't save it? they voted against

we will hear from sam zell about why wall street just doesn't care.nap reports strong sales on its mobile app platform. can it maintain its young user engagement to compete with facebook? joe: now let's look at where the major averages stand as we head to the close. abigail doolittle is standing by. abigail: once again we are looking at a quiet action for the major averages heading into the close. dow down .25%. the s&p 500 and nasdaq up slightly. than two00 is less points away from a new record close. the nasdaq is already there. -- in fact for the s&p 500, if it closes at its current territory, it will be the 10th out of 11 trading sessions less than .2% up or down. .oeing down 2.625% it to collect lower in midafternoon after the company -- it took a like lower in midafternoon after the company said it suspended the something seven max. -- 737 max. shows of snap are trading lower on the report. investors are looking for $159 million of revenue. a bloomberg intelligence analyst is confident they will hit that but it comes down to the daily active use

david: coming up tomorrow on our program, sam zell.eal estate investor talks about an awful lot of things. live from new york, this is bloomberg. ♪ david: south koreans voted today in replacement of moon jae-in. -- moon jae-in is leading in the race. coming to us throw seoul is our bloomberg bureau chief -- bloomberg seoul bloomberg chief, peter pay. with a can you tell us about the scene today? >> well, an amazing turnout even though it was rainy. it was a tough day to be out there but we're expecting record turnout with an hour to go, actually, at 7:00 p.m. and now before the polls close, they were looking at 75% to 80% turnout. a lot of vest. and as you noteds the exit polls just came out and noted that moon jae-in was leading by with 41%. second was around 23%. >> we have live pictures right now. i was told that was parliament square. i'm not sure. so tell us a little bit about moon jae-in if we haven't been following closely. we're concerned about north korea here. he seems to be a little bit more accommodating to north korea than

david: we had sam zell on who knows about investing in commercial real estate. listen to what he said about the mall situation. >> i would support the very bottom strips analyst everything -- in almost everything in between is basically obsolescent. david: everything at the top is obsolete. you're talking about skating rinks and churches to be done with these malls. alix: we talked to pe guys and there is money out there, but usually that p guys are like it's dead. thanks very much. if you have a bloomberg terminal, check out tv . cook on our and graphics and interact with us directly. go to tv on your terminal. this is bloomberg. ♪ david: is bloomberg. i'm david westin. inre has been a breakthrough trade talks between the u.s. and china. it will allow more natural gas and beef exporters will have greater access to chinese markets. the u.s. will allow imports of cooked chinese poultry into this country. is the first negotiated trade deal of president trump who promise to get tough on china. earlier we spoke with wilbur ross on the deal. chinese submitte

but the sectors he feels are the most fertile ground for your portfolio, and billion businessman sam zell also on the panel. he's known oz father of real estate investing -- as the father of real estate investing. wait until you hear where he has just built an actual bridge. took him ten years to get the permits, but here's a hint where he built it: the president wants to build a wall there, but zell sees dollar signs in that very region. let's look at today's market action. as i mentioned, you can look at the intraday picture here, stocks began to gain momentum as treasury secretary stephen mnuchin speaking before the congress tax reform will get done. now, he has said that, and you remember he told neil cavuto it'll be signed, sealed and delivered in august. then that changed. now he seems to be striking a firmer tone on this. the nasdaq turned around two, it started jumping. gold, which had been up, has been falling, $10. the s&p is along for the party, but advance microdevices is a real -- micro devices is a real