what is one way warren buffet narrows down his list? zplu talked to warren buffet. you know this all too well. easily never buy what you don't understand. boy companies that you know something about or you want to learn a lot about. research specifically, the company and its leadership. how long that leadership will be there. that management will be there. stick with that company. by something that you want to stick with for a while. >> it's kind of like the peter lynch strategy, things can you see, things you can buy yourself is the way to go. >> absolutely. >> one of his well known principles is buy and hold. what does that mean? >> he believes in finding fairly priced stocks. stocks you believe based on their profits, based on their dividends, which is a portion of the profit that you can get for holding on to that stock. that's important. look at fairly priced stock. don't pay attention to the daily price fluctuations. you don't want to look at the stock price every day. again, this is a stock you will hold on to at least ten years or more. he believes it's impo

now some people will view this as a tea laef in trying to figure out who will succeed warren buffet again. so an interesting nugget to mull over carl. back to you guys. >> warren says he knows. just a matter of whether or not the rest of us can figure it out. thank you very much. next after the worst year ever pc sales off to a rough start. shipments falling by significant numbers in the first quarter and that comes on the heels of the biggest year on year decline in the industry with annual shipments falling to levels not seen since 2008. what do you say at this point? when do you actually write an obit on this product? >> nothing surprising here. this will be the 5th consecutive drop in sales year on year. we have the worst q-1 since 2007. it's a crowded market. we have iphones and smartphones. one in three people on planet earth have them. we have tablets that are also causing disruption here. i think we're going to continue to see declines. >> but it's not like the companies are going to go away. if you're in the industry what's your measure of success? market share? do you still care

it's not the way warren buffet invest. it's fun to do. smart friends who own tesla stock and tesla cars. i think they're probably going to get more enjoyment out of cars than the stock. >> is apple an exception to that rule because of steve job's vision for the future? does it have -- you know elan has some of that as well. how much has to do with a visionary the head of a company like a tesla or like an apple? >> at least 100%. >> okay. >> there's no question that the person at the top in those situations is the do or die fortfor the company as well as for the investor. you look back at the history and so few of them had anyone like. it's a wonderful marketer. he looks to be a pretty good ceo. he looks to be a pretty good visionary and maybe a good engineer. he's done a lot of interesting things. it's possible that several years from now that will be one of the extraordinary, unusual events in this situation. quite often, single hot product companies are not a great place to be. >> thank you so much. we appreciate it. >>> late this after

were among the first to fooin sign onto the giving pledge started by bill and melinda gates and warren buffets. it challenges billionaires to give away a majority of tear wealth. the weils have been generous and active philanthropists. they stay on top of the causes. >> a great thing to be able to to do. >> thanks for joining us. i'm sue herrera. thanks for joining us. >> i'm tyler mathieson, thanks for joining us, eb. we'll see you tomorrow. >>> the following kqed production was produced in high definition. >>> this time on "spark" -- first, the women of "kitka" preserve and celebrate the rich vocal traditions of eastern europe. >>> next, the mixed-media work of santa cruz artist victoria may is inspired by the intricate process of custom dressmaking. >>> then, a look at how local artists are surviving the recession, and what we might be able learn from the historic wpa programs of the '30s. next on "spark." >>> major support for "spark" is provided by --

were among the first to fooin sign onto the giving pledge started by bill and melinda gates and warren buffets. it challenges billionaires to give away a majority of tear wealth. the weils have been generous and active philanthropists. they stay on top of the causes. >> a great thing to be able to to do. >> thanks for joining us. i'm sue herrera. thanks for joining us. >> i'm tyler mathieson, thanks for joining us, eb. we'll see you tomorrow. >>> tonight on the computer history museum presents revolutionaries. >> so if we can basically have a world where every child is educated, every person, every citizen has economic opportunity, they end uptaking charge of their own destiny. >>> john wood and matt flannery have succeeded both in computing and social change. is it possible to do well and to do good? we explore this question. >> major funding for revolutionaries is provided by the intel corporation. >> thank you for being he

and warren buffet took the other side with our own becky quick. >> well, there were probably -- this is the most wild it's ever been. probably 50,000 or more people who bought stock today and 50,000 people who sold. so i wouldn't put too much weight in what they did. >> how would you rationalize those two arguments? >> listen, i think mr. buffett is -- he's talking about stuff that should be common to investors. what carl icahn, the point he's trying to make is there is a risk that without fiscal stimulus, without real economic growth, that we're going to have a blow-off, an asset bubble created by artificially low interest rates. i'll make one quick point. i believe that if u.s. yields go lower, it's not going to be good for risk assets either. look what happened to japanese equities earlier this past year when rates went negative. the stock market got creamed. >> you do think there is a day of reckoning coming? >> of course. kudos to dan for saying -- you know, you can't trade that. and so with all due respect, you know, with all due respect, god bless his soul, carl, i mean, that

it's warren buffet that always talks about it. if you hold that stock ten years from now then go ahead and put it in your back pocket and close your eyes and move forward. where do you think that valuation is going forward. >> why do people focus so much on the valuation when in other instances they give companies a pass for the most part. amazon, high valuation. facebook, sales force, netflix for example. >> the answer is because hanging out there is the realization that this is an auto company. if you look at gm and ford and i'm not saying it's the same as gm and ford but it's an auto company. they trade at single digit multiples of earnings and 40 times earnings two years from now so it's conceivable that this could come down just to meet the multiples. >> you're going to have a hard time convincing people that tesla for what it is is an auto company. should be valued like general motors or ford. >> i agree. it's a technology company for sure. >> it's a technology company. >> no. i'm going to stick with the fact that it is bend

he's referencing 500 pounds flight less birds from new zealand, and he's quoting warren buffet, our abrahamthink it kind of proves the whole point about sam hinkie and his time here. he didn't relate to anyone. and it was time for him to go. i'm thrilled that the sixers are finally convinced him to leave so they can get a sane person running their franchise. you have to read that letter. that will letter will tell you just how bizarre that man was. >> so, mike, when you quit, in 45 years, probably, maybe if you make it to 50 years from now, you will to have to top this somehow. so better start on your letter today if you want more than 7,000 -- >> steve, he has always said he's going write a book, right, have you started on that book yet? >> no. but steve keeley will be in the first chapter that far book, no question about it. >> thank you. >> i'll write the forwards. >> thank you, that would be great. 6:36. well, good news for villanova's students and staff planning to attend tomorrow's parade. well, we will be. >> the university will be closed friday, and all classes canceled, so that way

i'll talk to howard buffett-- businessman, philanthropist and the son of billionaire investor warren buffetour has been provided by: >> fathom travel-- carnival corporation's small ship line. offering seven-day cruises to three cities in cuba. more at fathom.org. >> lincoln financial-- committed to helping you take charge of your financial future. >> bnsf railway. >> genentech. >> and the william and flora hewlett foundation, helping people build immeasurably better lives. >> and with the ongoing support of these institutions >> this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. captioning sponsored by newshour productions, llc captioned by media access group at wgbh access.wgbh.org >> this is "bbc world news." >> funding of this presentation is made possible by the freeman foundation, newman's own foundation, giving all profits from newman's own to charity and pursuing the common good, kovler foundation, pursuing solutions for america's neglected needs, e-trade and cancer treatment enters of

warren buffet here it he did not even want to see it. >> it is unfortunate. i think it is wrong.traction. we have real issues facing our country. i will never understand why mr. buffett chose to hurt my family. he is still kicking. >> i believe in his higher power. this was something he wrote in response to criticisms. >> never spoken to the day i resigned. >> you will have to ask him that. focus on the negative. never time to step back. >> i learned something from that event. >> there is nothing more painful. when i was exonerated, completely, by the way, all of the sudden they called and said i've been meaning to call you. this is horrible. we are really sorry that mr. buffett would do this to you. some people cannot confront conflict. mr. buffett knows why i left work share hathaway. i agreed upon it and shook hands. i resigned. i was leaving. he was offended that i was leaving. why he chose that method to attack me -- i think it does serve your point. if we go for the jugular, you said that there are that hearing transcripts. to presuppose and then to edit the kind of present

this is hundreds of millions of dollars of users and there are products, warren buffet is going to useo stream his annual meeting and that's worth it to somebody who has the management still like tim armstrong at verizon, there are surely others to try to monetize those users. it only costs you to finance that $6 billion in the neighborhood of $150 million before any interest deduction. if you accord $6 billion to the value of the company, the other assets are pretty easy to value, there is some tax link annual, owning the stocks at $36, $37, you will easily get $45. i think if marissa doesn't lead the process and board somebody is going to do it for her. we will see some action in probably four to six months. >> larry, just to follow up there you kind of laid out the case for why there might be more than one bidder willing to go above $6 billion. i wondered if you think that's where this might lead in future bidding rounds as you have other players surfacing and also you talk about $750 million in cash flow as a baseline, you know somebody is going to come in and say i can cut a lot o

warren buffett. liz claman kicks things off with an exclusive interview with the three buffet children at 3:00 pm eastern. on monday liz will have an exclusive interview with the richest minds, warren buffett, microsoft cofounder bill gates and berkshire hathaway's vice chairman charlie monger. rich and smart. lauren: puerto rico is on the verge of financial default and doesn't look like there will be a bailout. the nation will default on the 4 $22 million it owes bondholders by the may 1st deadline and then it will face an accelerated timeline for paying the full balance on its bond. on tuesday republican house majority leader kevin mccarthy said congress will not push legislation to help puerto rico in time to meet that deadline. let's look at us stock market futures. the worst selloff yesterday for the tao, down 211 points, the worst since february 11th and right now it is up 7 points in premarket. s&p futures are unchanged, nasdaq down four points, key commodities, oil and gold, oil has been up three days in a row pushing further today up $.37, 4640, gold is up $11, and gold right here is up 5 days i