so did warren.us the political atmosphere in the country is, it's amazing we have two people as outstanding as those we have. i think that people will live to have two candidates out there and just hate having to make the choice. i think there's a lot of merit in both these people. >> again, that was charlie elec from november, december until we get back into january, is that market's perspective? >> i'm not sure it's a problem from the market, but it's a big problem. there's always big problems, lots of big problems. i do not give that a 1%, make that a 1% factor in determining what i'm doing today in investing. we're always good. things are going to come out of right field or you're going to have 9/11s or october 1987, all kinds of things are going to happen. i'm trying to predict where businesses will be five, ten years from now. whenever we buy a stock, i say, am i happy owning that stock if the stock market closes a couple of years? if i've got a good business and the stock market closes a coup

at issue is warren's ancestry. native of oklahoma has said she has native american roots according to family lore. she's not enrolled in a tribe nor is there documentation proving her heritage as the kansas star put it it seems warren may be guilty of a crime millions of american kplit claiming that some an zester back in the misty past was a cherokee. warren has really not managed to stop the distraction or put an end to the questions. now scott brown is accusing warren of claiming minority status in order to advance her career as a law professor at harvard and the university of pennsylvania. he's going full birther and demanding she release her personal records from those schools to prove he did not fudge her resume nor benefit from affirmative action. the whole thing is insulting and demeaning. i think she needs to come out and put this thing to rest once and first of all. she ought to be holding a press conference and don't take any questions about anything else. come out and say i'm going to talk about who i a

what exactly would warren buy? we've run our own screener to find some names and a price target and a buy recommendation for facebook. i any european election disappointment, the dow rebounding off an early 68 point loss. the nasdaq composite also its lowest, to stage a come back. let's get down to the floor. we'll get to bob in a second and talk more about what's happening in terms of today's trade. bob is there. fantastic to see you. we were just talking about how it's kind of interesting despite what was going on over the weekend, in terms of political shufflings in europe. our markets and european markets aren't particularly ruffled. >> it's easy to argue everybody is numb to france and greece. but there's another point to be made here that everybody says to me, what are you going to do with your money at this point? what are you going to do when the ten-year is at 1.87%? who's going to put money into the bond market? nobody at this point. it's not so much everybody is ennature orred with stocks, if you look at

but remember what warren said at the berkshire meeting. he said i'm investing for five to ten years. so it tells me that what is going on in europe is not clouding warren's judgement about investing for the next five to ten years. the next five to ten months, that's a different story. >> tom: with that in mind you mention some of the blue chips with dividend names. how else are you approaching this market and just know wag we reported at the top of this program, the trading losses that is going to hit the market tomorrow with jpmorgan? >> well, we don't have a big plug of financials. we do have financials in the portfolio and it speaks to the kblexity that lenders and other big banks have in this derivative market. they are very complex instruments. at time these are unpredictable in how they behave. and today we are seeing in spades, you know, the jpmorgan and di pond being tested. but the way we are playing with multinationals, let me give you a good fact. 15% of our gross domestic product comes from the export business which is growing

it's something that was said about warren buffett recently, talking about what would happen about warren says i wanted you respond. he said a far greater risk to shareholders is that buffett begins to lose it mentally and make bad decisions and the board won't take away the key. do you think the board will be able to identify if there's ever a moment that warren can't be the ceo of the company? >> andrew -- >> i said it's a dark question. >> andrew, you start off at 4:00 in the morning and finish at 10:00 and you're getting on a flight. warren tomorrow is going to be here -- >> it's unbelievable. i'm with you but i'm curious of the larger issue. >> you're raising a hypothesis that you want me to address and i don't agree with the fundamental hypothesis. notwithstanding that, let's look at facts. the stock is 123,000 a share, 1.7 billion shares. what's the value, what's the ebidta, why can't you assume someone would come to the table and split it up? each plays bridge, think dimensional. our minds will go before warren's, andrew. good luck! nanding that, it's not a hypothesis we need to a

let's talk about warren buffett. mr. buffett making it clear he is still buying on the dips. >> we probably spent about 60 million. we try to buy maybe 10% of trades or something. when we were buying ibm, i used it day by day i would account for 10% of the trading. >> when they see it come down to the price points they like, they are not going above 10% of the volume. 60 manage on berkshire asset base, nothing, but at least he was in there. >> i found today's interview so compelling. >> that can't be right. >> that's a big hit. >> i find this is a really weird moment. when i go and talk to regular people about berkshire hathaway, they say something. the prostate cancer off the radar screen again. they say, he's old, he's ossified, set in his ways, the company is worth more broken houp. this is harrison. it said in pubs in dublin, believe it or not, it's said in odd places by people not afraid to speak what they regard as being the nonorthodox. it hasn't worked. the buying of companies, i wish he would show the discipline

those worries disappeared when warren buffett came calling. no wonder he got a standing ovation from the newsroom staff on the day the purchase was announced. >> people walked in to the meeting nervous, what is this about, and then to have that kind of an ending to it, that kind of result, i think people were just relieved and thrilled all at the same time. >> susie: berkshire hathaway is obviously one of the biggest businesses here in omaha. how do you cover that day in and day out now that buffett owns the paper? >> we will not change our coverage, he doesn't expect us to change our coverage, that's just not the discussion. we will cover him, we are likely to not agree with him on occasion, and that's part of the game here. >> susie: so what's it like having warren buffett as your bosnia? >> it's terrific. what i can take,... we look at a great investment idea or something he's read and he thinks i might be interested in. but i'm amazed at the access i have to him going the other way. if i want advice about something, i get immediate access,

but elizabeth warren is native american. she is as cherokee as the guy who is the principal chief of the cherokee nation, which in scott brown's calculation, would, i guess, make this complaint about his campaign ethics totally valid. this is the weirdest political attack of 2012 so far. i'm sure it's going to get weirder, but this is really, really weird. joining us now is frank phillips, the state house chief for the "boston globe." great to see you. >> great to see you, rachel. >> are you surprised that senator brown has gone this far in attacking elizabeth warren on this? do you see any political risk for him in doing this? >> yeah, i do. i think we're all surprised that he came out and did it himself. it's always been generated from within his circles and the republican circles. they were really driving this story, hoping that they were going to get to the very important part of the electorate that the two are battling over, and those are the so-called reagan democrats, who particularly don't like affirmative action and

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facebook is not a stock that warren buffett be attracted to. he said he's not going to be buying but he also said he wouldn't short the stock. >> i'm an agnostic on a company like facebook. any time you get a truly extraordinary business, and it's obviously an extraordinary business, they're the hardest ones to value because the question is whether five or ten years from now they will be as extraordinary as they are now or they may keep more and more wonderful things, it's harder to figure out than let's say coca-cola. >> warren buffett has spent time talking to ms., but bill gates has spent more time with him. gates is here this weekend and we got to talk to him about what he thinks about mark zuckerberg. listen. >> mark's done an amazing job and he and i have had a chance to talk, and it's very impressive. >> does he remind you of yourself? >> in some ways. you know, his company is doing a different thing, but he works long hours, he's a harvard dropout, he's very logical in his thinking. and he's willing to pursue his view of the world, even

so robert, is this the right kind of deal for warren buffett? >> well, it is the type of companthatoucould see waen bfett buying. predictable, in the consumer products area that he has had a lot of experience in, a lot of investing in. i think it speaks volumes about the attractiveness of avon but it may speak, tom, even greater volumes about warren's confidence in koddy management. >> tom: talk to us here about this type of guil, the strategy. buffett working to provide a portion of the financing, a lender, essentially. is that a long-term strategy, do you think, as opposed to just outright providing equity? >> well, we saw this with the march family when they were looking to take out wrley which they did in 2008. warren was a lend never that transaction, and has made out very well with preferred stock and others. he gets very good terms as we well know. i think given the choice he might like to only entire company, but in this case he gets koddy management, koddy cosmetics. their management team to probably help turn around avon which has been

warren buffett.e what he said today. >> coca-cola will be more profitable, in ten years, in my view, than it is now. >> pretty simple. if you think it is more profitable in ten years, by the stock. should you buy it here? what about other long-term holdings, that's ibm? talking numbers with us is carter worth, chief market technician at oppenheimer. welcome back, sir. >> coca-cola. >> is it as good as warren buff wo waur /* warren buffett would suggest? >> well in the well defined channel and one of the rules of thumb is when you get to the bottom or top of channel, play for the other way. there is upside and then going to about 82 before it will be tired. >> but you looringing pretty short term here though. >> yeah. we are talking two to three months. >> here is a much-longer turned chart. >> yes. and also what you see on ibm, where the stock is now compared to its all-time high back at the basing top in -- >> in late 90s. >> exactly np is 88, $90 and coke is nowhere near that at 77. the implication

if warren buffett wants to pay more taxes, let him pay more taxes. so his comment was not met with applause by the 1%. number two, warren buffett and bill gates got others to famously sign on. and others have signed on, but they are not coming out of the sky boxes. philanthropy and justice. you are talking more about justice. i am still trying to figure out if warren buffett gets pushed, and mitt romney to could be president calls it the politics of envy, and billionaires are not signing up in droves even to give money away, just giving some money, there are not people lining up to do that. i am just trying to figure out, it is a dynamic conversation i want to entertain, but i just do not know how that goes. what has happened to unions? the 1% and the others, the pushback on unions, the demonization of unions, the bashing of those who want collective bargaining where education is concerned, what do they want to do? privatize education. he tried to imagine where are these people are that you know that are willing to come out of the skyboxes? i do not

warren finds herself in a controversy.here along the line she claimed to be part native american. >> i still have a picture on my mantel at home. a picture of my grandfather and my aunt behas walked by that picture at least a thousand times, remarked that he -- that her father, my pap paw had high cheek bones like all of the indians do. being native american has been part of my story, i guess, since the day i was born. >> bill: all right. we tried to get a comment from aunt bebut answered would not let her talk. however the boston herald reports ms. warren has no recent native american families. here now kimberly guilfoyle and lis wiehl. i'm a wise guy, everybody knows that. >> that's true. >> bill: i have to say ms. warren is a brilliant woman. >> absolutely. >> bill: she didn't sound brilliant this that sound bite. >> what we know from years ago 1984 to 199 a she checked off on directory that she is part native american. >> bill: she did this. >> she did that. we do know that. >> bill: she checked it off. >> we do know t

i have to say is maybe he wants what warren buffett wants and good p.r. because the s. and p. five hundred berkshire hathaway has been trailing for the third year in a row i don't know what you think but my experience when i was an analyst i was i was not a sell side analysts are. of sell side analysts were that they parrot whatever management says and they just go around and. spin that so maybe he's just trying to get them on his side just been good p.r. for berkshire hathaway's a spirit he's a spin machine machine he's a spin machine so that's nothing that's why. there's a political prisoner he's no longer a businessman ok he's in the business of politics there you go there you go so we'll leave you with that and that's all we have time for thanks so much for tuning in don't forget to follow me on twitter as more and lister and you can also give us feedback on the show at youtube dot com slash capital account i will read some of the best tomorrow on your feedback until then from everyone here at the show thank you so much for watching come back tomorrow

uncle warren invited me -- >> reporter: who? >> mr. warren buffett. >> reporter: uncle warren?warren buffett, a ping pong enthusiast has known ariel since she was 9, when along with her coach she received a coveted invitation to his 75th birthday party. >> there was a table set up. i got to play against uncle warren, uncle bill. >> reporter: uncle bill is? >> mr. bill gates. >> reporter: in an e-mail that praises her talents, buffett told us, bill gates and i are still searching for a way to get a point off her. but they have made one point -- affecting her future plans. >> before i wanted to be a teacher or maybe a doctor. now that i've been to three berkshire hathaway meetings, i think, oh, business sounds really fun. >> reporter: some day ariel may handle returns on investments but for now, these are the returns that matter most. john blackstone, cbs news, san jose, california. >> wish i had uncle warren and uncle bill around. >>> coming up after your local news on "cbs this morning," the latest from chicago in the nato summit. we'll hear from rhode island senator, jack reed

warren all this vast amount of money. we are wealthy guys counting our money from all these students. this is what surgeon general cox had to say. a great quote. each role of parchment endorses its possessor as a man of distinction. and he goes forth amid the sound of marshal music and rich bouquets showered upon him by the hand of fair ones. and accredited agent for life or death endowed with all the paraphernalia of a doctor of medicine but destitute of the brains. this its what is going on. and cox tells another story. in 1863, one of the premier proprietary medical schools, half of the graduates, about 25 men, wanted to go fight in the whiffle wa civil war. wanted to fight in the medical department. and by 1863, had to take an examination to get into the army. by then. not one was able to pass the exam to get into the army. this was the state of american medical education. so there wasn't a lot of discipline in the discipline. it did not exist. it was chaos and anarchy. but this is what the civil war changed. let's ta

myths was that eisenhower didn't know what earl warren stood for. that is factually incorrect. he knew him well. his attorney general brownell socialized with warren and had run two presidential campaigns for him. he knew exactly who he was. and these books that float around and say that eisenhower didn't know who warren was or how he stood on race is ridiculous. there was a tension between these two guys, and we can talk about that if you want to, but it was not race. it was presidential politics. >> we can come back to that. i want to now get to eisenhower's some say finest moment with regards to civil rights and that's, of course, what happened at little rock. now, gang, remember, we've said that neither truman nor eisenhower looking for social equality. yet we now as you have articulated very well understand what eisenhower was doing, that he had the power to do. so here he is at a situation at little rock, and his hand is forced. but before we get to what he did, ernie green, tell us the story of little rock, so there you were standing alone. y

warren finds herself in a controversy.she claimed to be part native american. >> i still have a picture on my mantel at home. a picture of my grandfather and my aunt behas walked by that picture at least a thousand times, remarked that he -- that her father, my pap paw had high cheek bones like all of the indians do. being native american has been part of my story, i guess, since the day i was born. we tried to get a comment from aunt bebut answered would not let her talk. however the boston herald reports ms. warren has no recent native american families. here now kimberly guilfoyle and lis wiehl. i'm a wise guy, everybody knows that. >> that's true. >> bill: i have to say ms. warren is a brilliant woman. >> absolutely. >> bill: she didn't sound brilliant this that sound bite. >> what we know from years ago 1984 to 199 a she checked off on directory that she is part native american. >> bill: she did this. >> she did that. we do know that. >> bill: she checked it off. >> we do know that. >> bill: she was saying to the acad

tavis: please welcome warren littlefield to the program. for nearly one decade in the 1990's, he was a top man at the company, nbc entertainment, programming including "seinfeld," "friends," and "e.r." "mad about new," and many other shows. and he has a book, called "top of the rock." warren littlefield, great to have you on the program. >> it is wonderful to be here. thanks, tavis. tavis: let me start with the obvious. what happened? what happened, what did not happen on your watch, but as an outsider looking in, we sometimes get a better perspective, so what is your perspective on what happened at nbc? i saw the ratings the other day, and they were fifth, behind fox, abc, cbs, and univision, and then nbc. >> univision. tavis: and then nbc. so what happened? >> nothing lasts forever. when peyton manning said goodbye to indianapolis, he reminded us that nothing lasts forever, and it was an amazing era for us. we have america, tune in to watkings thursday night. -- would tune in to watch thursday night. 75 million americans at the height of