is one of them >> tom murphy is from cap city's abc. warren, happy birthday >> thank you >> thank you for spending time with us today and luck with the lunch. >> i may need a second helping that's a little skimpy on the coke there >> guys we'll send it back to you in the studio, carl. thank you. >> great stuff, as always, becky. our becky quick with warren buffett today, an interview we're going to discuss all day today of course on cnbc. i'm here with morgan brennan and mike santelli is with me well as well she covered the gamut, apple, airlines, campbell, buy-backs, daves, earnings guidance, social media. headlines for you? >> obviously reiterating his broad thought that the stock market long-term is going to pay you back, doesn't like bonds still. i find it interesting that he is very consistent on this point but has $120 billion in cash hates bonds but a lot of dry powder and a lot of cash apple, the world view on apple the way it's viewed as a kind of consumer product that is so entrenched in people's lives, that makes a lot of sen

tom murphy said you are better off missing 5-6 good deals than making one bad one. >> the best deals ever did with the ones i didn't do. david: let's talk about those. what are the ones you are glad you didn't do? ken: i won't name names. i didn't understand what i was getting into. where i did not understand the business. where the surviving company's management did not have the leadership skills. that is what it is all about. what makes walmart a great company? and kmart, which was a giant one walmart study -- started, is now bankrupt. it is now part of sears, and they are struggling. what was the difference? people. they are more than all the people around them. todd cogle and, david glass and , now doug mcmillon. he is fabulous. people, always people. david: when you look at a deal, how do you assess the character of leadership, a good one from a not so good one? ken: i met jeff bezos last year. i told him i would love to come out and spend time with him. he said he would like to meet frank, who ran home depot. he is retired. frank and i agreed to fly to seattle. we had lunch in

partners investment adviser tom murphy will be joining us to talk more about markets., australian politics with the new cabinet. how much stability is being put forward. this is bloomberg. ♪ haidi: -- set for modest gains, the yen holding. markets liking the message from jackson hole. jay powell signals no change in rate policy. : president trump trade war may turn even a regular. the hawks are in the ascendant -- even uglier. the hawks are in the ascendant. shares suspended in singapore ahead of monday's shareholder vote. ♪ yvonne: two central banks playing into the markets. l's fed digesting jay powel speech. the pboc, don't fight it. the bears are learning that after they stepped in to reintroduce this countercyclical factor. ramy: that's right. maybe a push in terms of what happened with u.s. markets, the s&p 500 hit a new brand root -- brand-new record. continues. if that trade tensions continue between the u.s. and china. we are t -10 on possibly a new round of tariffs. yvonne: it seems like we are starting off on a positive note. sophie: that's right. on friday