teledyne. they called it teddy. it was like a $500 stock and so volatile and day traders loved to get in and out of that on an hourly basis. but i'm showing my age here. >> sounds familiar. we've seen a few of those these days. >> yes, that is for sure. >>> we're heading towards the close. starting to move higher, the dow up 100 points again off the highs. we were up 135 at peak today. >> we have a lot more ahead. you can't afford to miss it. keep it right here on "closing bell." >>> facebook may be dialing up a move for the smartphone industry. will that help the social media giant rake in more revenue or will facebook struggle to compete against apple? jpmorgan selling profits to offset the massive trading loss. trying to jump up short-term earnings at the expense of long-term growth? they may disagree on a lot of things but the left and the right won't see granny getting thrown off a fiscal cliff. is medicare on the chopping block? you're watching cnbc, first in business worldwide. that bringing you better techno

he broke up teledyne. the next guy has to decide which ones are keepers and which ones aren't. there is a great moment in becky's interview. she asked him about procter and gamble. his response was couched. he kind of admitted and said he's been selling procter and gamble. the discipline he has towards the companies that don't do well or make mistakes in his stock portfolio is so different from his gigantic purchasing. who talks about how i can't wait to make a $22 billion acquisition? i can't wait for a smart acquisition. that's what i want. smart. >> sure he's not measuring things differently than you are? at the end of the day, he's got return on capital. he's got access to capital, extraordinarily cheap ability in so many different ways. are you sure you're not measuring perhaps success? >>em's measuring the world of intel which decided we are a good growth company. let's increase the amount of money we give back to shareholders. let's look at company -- >> you have been happy with the buybacks at berkshire. >> i think they are miniscule. we thought the autozone was terrifi

doug says that for many years, warren, you referred to henry singleton, founder of teledyne as one ofhe broke up the company to enable managements to focus on what they knew and put in an options program. doug asks, what's the rational for having this business as a diverse and unconnected as berkshire? have you thought hard about doing something like henry? >> henry did incredibly well. he repurchased an astounding purchase of his stock over the year. he ran the business well. after he did what you talked about, it didn't work so well. that was in his later years. apparently he wasn't functioning as well then. his record was made not by what you were talking about, but by the policies i advocate. >> i did mention and maybe you can mention that becky got a star on the hollywood walk of fame along with jay-zee, who else is on the list there? >> bill gates has been here. >> bill, jimmy buffet. >> and now the becky quick. you're in good company. they did a nice job there. >> you're the first female, i believe. >> here is something to do. next time you come here, make sure you come here, t