warren buffett did weigh in on washington. he talked a lot about the grid locks there and what he thinks is causing it. he came up with an interesting analogy where he talked about how when you get to negotiation in business you have to have two sides who both kwum to the table and are able to go ahead. are able to o go ahead and negotiate on both sides of it. both sides, he says, needs to be able to say with authority that we are they are ne negotiating with both parties back to 2011 when things really went wrong. he said it doesn't do any good to rush to people with teleprompters and that is a problem in washington today. >> what does he think the market impact will be if any at all, if indeed two sides can't get this done quickly. can't come to some sort of resolution. did he talk at laul about the possibility of the volatility of the market or the economy? >> he didn't get into where he thinks it goes once we get to continuing resolution. but he said for right now, he agrees with the market's reaction which is basically a

warren buffett is our special guest this morning. lding a lot of your questions for him all morning long things that have been coming through. and warren for the people who are just tuning in we talked in the 6:00 a.m. hour about your thoughts on the sequester, and where we stand right now. this is the first business day after the official sequester process. people may have not noticed a lot of changes yet but there could be some coming as soon as april 1st when things really kind of kick down. in your opinion is the sequester a good idea? >> well, it's probably -- it's a terrible way to go to -- in terms of cutting experiences but that doesn't mean cutting expenses isn't a good idea. we've done two things this year to reduce the deficit. which means reducing stimulus. we've had huge stimulus in this country. we had a bill we called stimulus. but then, any time the government runs at a big deficit that is still his. keynes would be proud of us. we have increased taxes, the payroll tax went up a lot $80 billion to $100 billion and we'v

he has a very famous father, warren buffett. had you ever heard of him? essed. >> as we reported, howard buffett doesn't always agree with bill gates on the best ways to help farm development in africa. but that doesn't mean they can't work together. towards the end of 2011, the howard buffett foundation announced it was joining with the gates foundation to support the work of n2africa, a dutch-led initiative to improve soil quality and increase agricultural productivity in eight african countries. the $2 million donation from the buffett foundation will support work in sierra leone and liberia. [ticking] coming up: making money faster than you can blink... are humans ever involved in the trading? >> humans are not involved in the trading because humans are way too slow. >> when 60 minutes on cnbc returns. it's a new day. if your a man with low testosterone, you should know that axiron is here. the only underarm treatment for low t. that's right, the one you apply to the underarm. axiron is not for use in women or anyone younger than 18. axiron can transfe

we have breaking news on warren buffett shareholder letter.hibani go ahead. >> we'll filing through everything. we have earnings per share, $1704 per share. the street estimate was for $1755 and some change. obviously the meat at thiser sttff everybody cares about the context of the deals and the quarter. a couple of highlights from the shareholder letter. warren buffett describing berkshire hathaway's performance in 2012 as subpar, saying the percentage increase in book value, which i think was somewhere around 14%, was less than the s&p percentage gain. this in a shareholder letter. also saying that he is disappointed by the lack of major deals, saying as a quote, i pursued a couple of elephants but came up empty-handed. just digging through the notes, shareholder letter talking about america and i know that, we often listen to him for his gauge on the macro environment. talking about american business saying that american businesses will do fine over time. just as some of the highlights. he does cover a broad array of subject matters in thi

as you know, warren buffett is a value investor. to the right where it says deviation. that has nothing to do with his sexual preferences or anything like that, that is a measure of risk. if you look at that, he takes a lot of risk. his standard deviation is fairly high. producing those kind of returns taking a lot of risks. warren buffett puts his money in companies that he thinks are undervaluedd he rolls the dice. he is a stock picker. he is a brilliant investor, but he is one of these guys from the midwest, very low-key, which he kind of is although he is on tv a lot. this guy is a stock picker and takes a lot of risk. but is berkshire hathaway worth the risk? based on those numbers, but i would say no, his investment returns are starting to lag. this is where i deviate into opinion. why don't we hear this guy is not as great as his reputation? some of it is political. he is the one fatcat the media loves articularly for his political views, big supporter of president obama. take it for what it is worth. the numbers kind of don'

because warren buffett endorsed it this morning. best way to play that market is chart industries. the other names will deal with short-term issues, but gtls, real revenues, real growth and real earnings. after the break, i'll try to make you more money. >>> coming up, power shortage, investors have favored utilities for their steady charge of income from dividends. but what happens when a company pulls the plug? tonight, cramer's got the warning signs that could help you keep the lights on. i know what you're thinking... transit fares! as in the 37 billion transit fares we help collect each year. no? oh, right. you're thinking of the 1.6 million daily customer care interactions xerox handles. or the 900 million health insurance claims we process. so, it's no surprise to you that companies depend on today's xerox for services that simplify how work gets done. which is...pretty much what we've always stood for. with xerox, you're ready for real business. i started playing football when i was 7 years old. following my junior season in

because warren buffett endorsed it this morning. the best way to play that market is chart industries. the other names will deal with short-term issues, but gtls, real revenues, real growth and real earnings. after the break, i'll try to make you more money. >>> coming up, power shortage, investors have favored utilities for their steady charge of income from dividends. but what happens when a company pulls the plug? tonight, cramer's got the warning signs that could help you keep the lights on. i remember the day my doctor said i had diabetes. there's a lot i had to do... watch my diet. stay active. start insulin... today, i learned there's something i don't have to do anymore. my doctor said that with novolog® flexpen, i don't have to use a syringe and a vial or carry a cooler. flexpen® comes prefilled with fast-acting insulin used to help control high blood sugar when you eat. dial the exact dose. inject by pushing a button. no drawing from a vial. you should eat a meal within 5 to 10 minutes after injecting novolog® (insulin asp

fair enough. >> you take that case up with warren buffett. that's what he is saying.look at sort of where corporate america is sort of profiting and american middle class wages are stagnant, you can't look at this and say that's fair. >> i agree. high corporate profits are a problem. regulation exacerbate that's problem and limits at built of startups to take on the companies. that's why even in mexico taker taking on the version of warren buffett for the very good reason that's the way you get jobs and growth by having more entrepreneurship and more growth and high corporate tax that are biassed towards the ges and buffets of the world is a burden. >> it's a weird argument to say we need more regulation when corporations are sitting on record profits. >> that happens to be true. >> gentlemen, thank you both very much. still "out front," new revelations about the teenage >> i'm willing to, you know, break the jewel of my own creation to try to do something for her. like i'm not worried about what it would do to me or my show to try to help her as myself, not as my cha

>> warren buffett's berkshire hathaway reports, here are the numbers. 1704 per share. misses the estimate which was 1755. per share book value increases 14 hadn't 3%. underperforms the s&p 500 by 1.6%. only the ninth time in 48 years berkshire has underperformed the mark. the second disappoint in 12, buffet saying, pursued a couple of elephants and came up empty-handed. todd cole many and ted weschler outperformed and left me in the dust, buffet writing in very tiny font. maria, back to you. >> thank you so much. the first trading day of march in the books. a lot more action here on the "closing bell." i'll talk exclusive with the ceo of barclays to talk about the global economy and the state of banking today and automatic spending cuts to kick in between now and midnight. what does it really mean for you? does the other side have the real story. we'll talk about that when we come back. back in a movement. thank you >>> welcome back to the special edition of the "closing bell." 2012 was a controversial year for barclays. the rate-rigging scandal taking its toll on the

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. >> warren buffett is buying heinz. >> jon: jiffy pop and jiffy lube.he two office companies makes sense, not so clear on why buffett and heinz are getting together. i guess it's a strategic value add the acquisition for buffett tour a terrible misunderstanding between him and his secretary. he said get me some ketchup. so i got you a ketchup company. [ laughter ] the point is the financial journalists inbridled enthusiasm for this merger boom is entirely rational because there is no and never be a downside. >> you had the leverage buyout boom of 2007. he had the dot com mania and going back to the 80s the junk bond bonanza. all of these are merger boom as long with them and they all ended badly. >> jon: destroy thes but distill. destroy thes but kill buzz kill who came from the set of madmen. destroy him. he is using the past to predict the future. he's a wizard. drown him! [laughter] so why would the rest of -- with the rest of economy stagnating has there been a surge in mergers and acquisitions. it doesn't -- >> i can answer that question, jon. >> j

because of the diversity of warren buffett's portfolio. in talking about treasuries being the dumbest investment around, that's a judgment call on where he sees cash. cash he would rather go buy an elephant, as opposed to having all that cash on the balance sheet. that is sort of a backhanded slap on apple, sitting on $137 billion in cash. >> apple only down a little bit today. it's monday. usually apple is down four or five. tuesday it's down three, four. i'm trying to remember the pattern. look, if they don't do anything, they have become the anti-buffett. don't cross the oracle of omaha, lightly. what they're doing philosophically is crossing the omaha. >> the key to so much corporate activity in so many ways, if you have cash on your balance sheet, you're earning almost nothing. comcast, our parent company, for example, deciding to buy what it didn't own of nbc, they do it now. heinz, 3-g saying, we're willing to buy this company at 14 years worth of earnings, depreciation, amortization. why? because we're going to get a decent return

. >> warren buffett, china and the markets trying to make a come back, oh, my. that kind of a day here on "street signs." we will tell what you the chinese government did that has some investors spooked. >>> warren buffett says some stocks are still a bargain and he is a buyer of a buffet of names that he likes, ahead. >>> why some mortgages will look like sub prime mortgages and one trade in commodities you must make right now. how is that for a tease. >> that is a good tease. good morning ppg dow is less than 1% away from all time closing high. it is, however, held back today by global economic worries. which ironically comes as over $55 million for global equity funds and etfs in january and february. that, is the biggest two-month inflow on record. even trim tab says concerned, seeing extreme enthusiasm for stocks, particularly emerging markets and china should worry bulls. bob pisani, do you agree, the big inflow from fund investors off tern can occur in market thoughts. >> that's all own wall street chestnut. i think today we are having a growth scare arou

stuart: how about warren buffett himself?art: who took his position at number three? >> a man named ortega from spain. he's got fashion stores all around the world selling cheap fashions. his stock is on fire. last year he was worth 38 billion. this year he's 57 billion. he's moved ahead of buffett. now, how long that will last, i don't know. but it's an amazing story. stuart: it really is because spain 25% unemployment rate and they're in dire recession -- >> but you have entrepreneurs who are doing things that can defy national economies. a people who do things, whether it's this woodman guy or others, that people want, meeting the needs and wants of other people, it's in essence of free markets, by golly, you can still make it in this crazy world. stuart: did you break it down? >> the united states still has the most billionaires in the world. we haven't quite lost that one yet. 442, up slightly from the year before. but other regions of the world, especially the asia pacific region. and the amazing thing is you have sever

spanish clothier moves into the top three worth $57 pushing warren buffett to measure -- warren buffett to number four. 1,426 made the list on billionaires up 16 percent from last year. >> still another year i wasn't on the list. >> i know. still to come on abc7 news the sailboat stand off in pacifica, we have a live update f >> coming up on abc7 news, katie returns to newtown to see how the families are moving forward. on abc7 news at 4:00, the first lady's first ever google hangout with a message to families and what she forced a group of students to do online. >> on abc7 news at 5:00, the f.b.i. releases their files on whitney houston and what the investigation they conducted for the late singer, turned up. >> finally, an update on the breaking news story involving the yacht stolen from sausalito. here is another live look from pacifica off the coast where the coast guard has surrounded the stolen multimillion yacht that wash ashore with several people on board. the owner of the vessel called to report the stolen boat after seeing news reports of the yacht running aground. >> as to w

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spanish clothier moves into the top three worth $57 pushing warren buffett to measure -- warren buffettmber four. 1,426 made the list on billionaires up 16 percent from last year. >> still another year i wasn't on the list. >> i know. still to come on abc7 news the sailboat stand off in pacifica, we have a live update from sky seven h.d. next. >> coming up on abc7 news, katie returns to newtown to see how the families are moving forward. on abc7 news at 4:00, the first lady's first ever google hangout with a message to families and what she forced a group of students to do online. >> on abc7 news at 5:00, the f.b.i. releases their files on whitney houston and what the investigation they conducted for the late singer, turned up. >> finally, an update on the breaking news story involving the yacht stolen from sausalito. here is another live look from pacifica off the coast where the coast guard has surrounded the stolen multimillion yacht that wash ashore with several people on board. the owner of the vessel called to report the stolen boat after seeing news reports of the yacht running a

in the depths of the financial crisis, buffett threw goldman a life line. getting warrenlion of stock in the future. with goldman having purchased the preferred stock, the two sides now amending the second part of that deal. the new agreement saving buffett from shelling out $5 billion in cash and saving goldman from having to issue existing stock and deluding exi diluting exist shareholders. in exchange for $43.5 million wards, buffett gets future shares. by striking $115 a share from gold man's average price this coming september and multiplying the difference by $43.5 million. so buffett's future will depend on goldman's price in the future. but as of yesterday, buffett would have received 9.2 million shares, putting him among goldman's top ten shareholders. sue, back to you. >> thank you, mary. so close to the s&p all time high. might have happened tomorrow. it's a short week. >> we'll come back with a preview of tomorrow's market. : 0 when i'm trading, i'm so into it, tdd#: 1-800-345-2550 hours can go by before i realize tdd#: 1-800-345-2550 that i haven't even looke

warren buffett says the airplanes and buzz model is horrible.g zimmerman back. stock has now gotten above 200. i think technicians are looking that favorably. i think valuation is rich and i would move to the sideline. >> anthony freeport. >> quickly, i would sell here. it is linked to china. >> that's why i think stock is down along with the basket of stocks with exposure there. stocks down 2%. final trades when we come back. with fidelity's new options platform, we've completely integrated every step of the process, making it easier to try filters and strategies... to get a list of equity options... evaluate them with our p&l calculator... and execute faster with our more intuitive trade ticket. i'm greg stevens and i helped create fidelity's options platform. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. ♪ ♪ no two people have the same financial goals. pnc works with you to understand yours and help plan for your retirement. visit a branch or call now for your person

amacio ortega of the spanish retailer zara bumped warren buffett down to 4th place, followed by larry ellison of oracle and the koch brothers. still to come, with the rest of the world coming on strong, we need need a new and better way to teach in america. first though, the government that won't govern and the markets hardly notice. is there an investing strategy for this? yes there is, next on first business. first there was the fiscal cliff, now sequestration, with its uncertain but very likely severe impact. down the road we have the debt limit, nobody knows what europe is going to do. so what's an investor going to do? let's talk to jim cahn, he is the chief investment officer at wealth enhancement group. jim we also have this roaring stock market where price-to-earning ratios are looking pretty good. how do you deal with all this as an investor? > > that is a mouthful. there a lot of headlines out there right now, so investors are pretty confused. and our answer is, anyone who tells you they think they have the answer probably doesn't. so the right answer is to say "we really do

let's start with warren buffett's berkshire hathaway. it's been ages since buffett's companies have provided leadership at all. that's bothered me. this market shunned the greatest investor of our time. why is this general so important? because of the make-up of the companies that buffett owns. berkshire is a pastiche, if not a mosaic of businesses that do well in the environment of american resurgence. he's got tons of housing, lots of insurance, many pipelines. he's got retail, he's got household brands, think heinz. he's got a mammoth railroad. it's almost as if there was this stock called united states of american business, and its president isn't barack obama, it's warren buffett. you get this leader going, you can go in and pretty much buy everything from toll brothers to travelers to union pacific and general mills. seeing berkshire hathaway on the new high list is like embracing motherhood, apple pie and dilly bars. after all, warren buffett does own dairy queen, and i follow own dairy queen, and i follow own dairy queen, and i f

and monday on "n.b.r.," warren buffett takes your questions! the billionaire investor wants to know what's on your mind. you can submit your questions on facebook. you'll find us under bizrpt. >> tom: tonight marks the end of a chapter and the beginning of a new one in the legacy of "n.b.r." since 1979 this program has been based in miami. tonight that comes to an end. on monday cable financial news channel cnbc takes over "n.b.r." the program will remain on public television and i am confident it's future is bright with our colleagues. for most of us with "n.b.r." this will be our last evening with the program. it has been our honor to work on "n.b.r" it occupies a special place because of your support-- the viewer. you have never been shy about letting us know when we have come up short of your expectations, nor expressing your loyalty. thank you for inviting me into your home, onto your laptop on your tablet or smartphone. this isn't goodbye. just see you next time. >> susie: tom, i will miss working with you and all the creative, hard-worki

a real money pro at the street.com and will be grilling warren buffett at the big annual festival. let's go to frank in new york. frank? >> caller: boo-yah from nanuet, new york. >> i pass right by you on my way to work. so i hi to you all the time. what's up? >> i've had chesapeake in the portfolio and it's been red all year. it finally turned to green over the last two days. so i'm wondering if chesapeake has enough gas to keep going or should i take a modest profit and do something else. >> natural gas price is going up. this is not the nat gas stock i want you in. i think you wait until 23 and then sayonara! and that, ladies and gentlemen, is the conclusion of the lightning round! >> the lightning round is sponsored by td ameritrade. >> caller: hi, jim. this is bill from state college, pennsylvania. >> yes, nittany lions! >> how's pops? >> how's pops? we had the best time this weekend. went to dollar tree. it was just terrific. went to morning glory for brunch. got a lot of candy. met this woman. she said what are you doing here at the checkout? dollar tree. karen. in my home s

this in the case of a few technology executives are making billions of dollars in the case of warren buffett he's making billions of dollars there the fortune of four hundred less that's quoted every day and see n.b.c. the billionaires who are making billions they're doing great yeah i know absolutely. for blowing asset bubbles is terrific for those people who own the assets which as we know are most of the top one tenth of one percent but the top ten percent of. technocrats they're doing pretty well too because they own a little piece of bad asset bubble so that's why you don't hear too many complaints from the elites in in the state flight fiefdoms and academia and you know the whole conventional economics bureaucracy to talk about asset bubbles but we've had a whole generation now that has no expectation of really being a meaningful part of this economy so they wouldn't call it a bubble necessarily they would just call it the new normal they don't seem to be fighting this at all they simply accept the fact that they've been cut out of the of the equation and there's no pushback against it

in the meantime, let's talk about warren buffett for a moment. his support is getting a boost and take a look at the share here. we have jacques esculier that is with us in a fox business exclusive interview. good to see you, sir. >> thank you for having me be 11 buffett said, all right, i am out of here. >> it is good news. i can tell you that rings true. connell: do you talk to one buffett a lot? >> i talked to his people last. connell: quite a why did they like the company so much? >> given that we outperform the growing market, the fact that we are actually capable with the bottom-line profitability, lasser we broke a 35% operating model. >> so use this phrase, a global company. we take it down by sales. the highest percentage comes from here. is that right? >> we are actually a very well anchored global company. we get sales and revenues from everywhere. obviously, a lot of those are built in europe. >> so that makes sense. on and on, the other parts of the world, asia is also a big component. europe has kind of talk the headlines all week.

you want to invest alongside warren buffett. it's going to be a good idea. in georgia. brandon? >> caller: jim, a big florida gators boo-yah from atlanta, georgia. >> you bet, man, i'm doing a gator thing right now. what's going on? >> caller: i wanted to hear your thoughts on cvs. it's had a big run lately. >> it's not done. hope it comes down so we can -- >> buy, buy, buy! >> for the trust. john in new mexico, john? >> caller: yes, b-b-b-boo-yah. >> great. land of enchantment. what's up? >> caller: jim, can i short amazon? >> no, no, no, no. this is a wild card. we don't know whether to go short it or long it. and we don't just therefore presume -- >> don't buy, don't buy. >> and sell, sell, sell -- >> it's too hard. too hard. it's been a bad short for a lot of people. i need to go to mel in california. mel? >> caller: hi, jim, how are you? >> all right. how are you, mel? >> caller: fine. i've been doing a little research on baidu, i'm wondering if it's time to pull the trigger. >> there are a lot of people telling me it is. i say, you know what? china, to