warren buffett is the master and king of tax circumvention.o have him tell other people to pay more is truly an obnoxious and hypocritical. john: but because he pays so little is seems reasonable he should say change the rules. >> it should. but he didn't. every time he talked about he never suggested taxing unrealized capital gains are once suggesd limiting deductions of kids to your family is with a 501(c)3 he never mentioned that. for obvious reasons that would have gotten him. it is hypocritical like how word from ohio the father of the at death tax six months before he died he moved to florida not to pay the ohio does tax. john kerry of massachusetts buying the ought to harbor is in rhode island itoes on and on. their behavior is not bad but the words, policies, recommendat ions and influence on others that is hypocritical and discusng. john: who would've thought actors and politicians would be hypocritical. [laughter] thank you. are laugher. >> ganda koi is on the tax breaks when israel and john: have you filed your taxes? did you get yo

warren buffett is the master and king of tax circumvention. have him tell other people to pay more is truly an obnoxious and hypocritical. john: but because he pays so little is seems reasonable he should say change the rules. >> it should. but he didn't. every time he talked about he never suggested taxing unrealized capital gains are once suggested limiting deductions of kids to your family is with a 501(c)3 he never mentioned that. for obvious reasons that would have gotten him. it is hypocritical like how word from ohio the father of the at death tax six months before he died he moved to florida not to pay the ohio does tax. john kerry of massachusetts buying the ought to harbor is in rhode island it goes on and on. their behavior is not bad but the words, policies, recommendat ions and influence on others that is hypocritical and discussing. john: who would've thought actors and politicians would be hypocritical. [laughter] thank you. are laugher. >> ganda koi is on the tax breaks when israel and john: have you filed your taxes? did you g

ceo and berkshire hathaway warren buffett are onto something. as to more billionaires start reading in on investing in newspapers. "countdown to the closing bell" starts right now. ♪ liz: 82 years old and can still throw a newspaper like he was a kid. that's mean, everybody, i am liz claman. we need you to focus on the s&p 500 because today it is all about setting new highs, not lower. after the market first week in a year, a new day today, look at what is powering us higher. they're all rich and not 52-week highs, but all-time highs. 60 stocks in the s&p 500 hitting new highs today. 13 of them happen to be utility stocks, which tend to be defensive plays when folks are nervous. northeast utilities, edison among the standouts. leading the s&p higher at the very top, non-other than netflix, which is up about 6.75%, was up more than 7% earlier. netflix said report earnings ofn just about an hour. take a look at this year-to-date chart. the stock is up a stellar 90%. remember, this was a stock many analyst about a year ago many left for dead. until

they keep warren buffett happy. >> yes, they do. john, good to see you.hank you for these names. >> thanks, guys. >> important to bear in mind, to see if they do, in fact, raise their dividend later on. >> bill, i thought that was interesting, so many dow components were on his list. >> reason they call them blue chips. >>> as we head toward the close, about 15 minutes left in the day, we're coming back, the dow was down 131 points a moment ago, nown96. >> but this market's under pressure today. increasing tensions with north korea. investors have been pretty much ignoring this threat until now. what's changed? we'll take a look, next. >> also, be aware the black swan. the always-cautious jeff cox breaks down the potential under the radar events that could send this market even mar sharply lower. stay tuned. oh, he's a fighter alright. since aflac is helping with his expenses while he can't work, he can focus on his recovery. he doesn't have to worry so much about his mortgage, groceries, or even gas bills. kick! kick... feel it! feel it! feel it! nice wo

the new technology that is helping average investors invest like warren buffett. ashley: we would like to know what you think. facebook is rolling out a new tool for advertisers, the target users based on what they buy online. have they gone too far? would you consider leaving facebook? log onto facebook.com/afterthebell and we will share your answers later this hour. [ male announcer ] at his current pace, bob will retire when he's 153, which would be fine if bob were a vampire. but he's not. ♪ he's an architect with two kids and a mortgage. luckily, he found someone who gave him a fresh perspective on hisortfolio. and with some planning and effort, hopefully bob can retire at a more appropriate age. it's not rocket science. it's just common sense. from td ameritrade. it's just common sense. are you still sleeping? just wanted to check and make sure that we were on schedule. the first technology of its kind... mom and dad, i have great news. is now providing answers families need. siemens. answers. governor of getting it done. you know how to dance... with a dead

warren buffett to mark your calendars because a week from monday at 9:30 a.m.business live exclusive, i am hosting a joint interview with warren buffett, berkshire hathaway vice chair and bill gates, the chairman of microsoft. plus, who is that question mark? is a mystery guest. but its business is the only place you will see this amazing conversation. we don't just talk about berkshire hathaway. it is always and is making our. live from the hilton with the unbelievable guests all they want. everybody plus warren buffett's three adult kids to wallow i tell -- call them the kids. the closing bell in 15 minutes. more fallout. casey mg partners. how the charges might be affecting business. we have the latest. you know what that means. asante their body and your portfolio in shape. we take you to your portfolio boot camp by cutting the extra black man flat and weight and replace it with some extra solid muscle coming up next. we will teach you how. set to end. ♪ thank you orville and wilbur... ...amelia... neil and buzz: for teaching us that you can't create the fu

. >> go ahead. >> first of all, warren buffett has a long track record as a director of the "washingtonst" company and is the owner of the "buffalo news" of not interfering in the newsroom. long, distinguished record in that regard. different than the koch brothers who have no record other than to be shown not only to be really rather thuggish in their political behavior, but even in the cato institute was going in a direction they didn't like, they fired the executive director. >> steve, what's their record in the media? there is no record. so you cannot as describe that to them. >> i think -- >> i think turner has given billions of dollars to left wing causes. are you ready to say right now he should never be involved in the media anywhere, ever again? >> no. because he keeps his hands off newsrooms. >> all right. i just think steve pearlstein, if it happens, if the koch brothers do this, you ought to give them a chance because these guys are good businessmen. and they know that a biased news slant is not going to sell papers for long. the editorial page is different. that's what rupe

get ready to step into warren buffett's lecture hall. more power in two minutes. [ male announcer ] you are a business pro. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. yes, it is. welcnew york state, where cutting taxes for families and businesses is our business. we've reduced taxes and lowered costs to save businesses more than two billion dollars to grow jobs, cut middle class income taxes to the lowest rate in sixty years, and we're creating tax free zones for business startups. the new new york is working creating tens of thousands of new businesses, and we're just getting started. to grow or start your business visit thenewny.com we went out and asked people a simple question: how old is the oldest person you've known? we gave people

you may have heard about one that warren buffett bought. we have long term careers in the business. most of the majority of our employees can walk are bike to work. and what it does by having employees live locally it seriously cuts down on the carbon footprint. we launch in the neighborhood of the bay point. the port has a requirement that local businesses use at least 60 percent truckers. virtually all the truckers we use live locally. we feel that our success should be a success shared by the community. we continue to support construction projects in the area and we're working with the port staff on iron ore. they announced down at pier 48 they're extremely interested in shipping by rail from the port. we're working closely with them. we feel we have a very, very bright future. i started my career here in 70. i coordinated with the port and at that time, there was a person named jean who was the exclusive director and i've known many people and the board of supervisors knows this is a dream team staff you have. you have a fantastic staff and this happens because of you're great t

and citing warren buffett who said that he pays a lower effective rate than his secretary. the white house has proposed a minimum effective tax. the buffett tax for those earning more than a million dollars. president obama and mitt romney are playing a lower tax rate. ronnie and buffett paid a lower capital gains rate. the president lowers his tax burden, taking advantage of deductions. a quarter of his income goes to charity. he deducted $45,000 worth of interest payments and 519-dollar deduction for office expenses among others. president obama in the white house say they want the president to pay more in taxes, which is thoroughly outlined in his budget proposal. gerri: what were history of other nations like? >> the biden's made $385,000. charity would be seven grand. gerri: okay, thank you, rich. have a great weekend. in another story we have been following, mother nature causing major damage across the country over the last few days. a storm brought down trees and power lines across the southeast. as much of the midwest got dumped on with snow and ice. it has left thr

we're going to figure out where warren buffett's baby is headed next.ue for a pullback or will it rally. my colleague on realmoney.com, doug kass is going to be there playing the house bear this weekend, invited by warren himself and becky quick, to be the devil or play devil's advocate to the minions who justifiably adore. we want to hear what doug has to say, but we're huge bulls in the stock. and on warren. yet we also want to know if this is a good entry point ahead of the meeting, or perhaps we should wait for a pullback after it. often berkshire is thought of as a mutual fund and nice stock package. but collins thinks the truth is very different. i've got to agree. in the past when berkshire only offered one class of stock, the thinly traded a share that sells for $159,000 a piece, you couldn't get much out of the chart. i remember it was $200 when i started at goldman sachs, but thanks to the introduction of berkshire class b shares that sell for $106 a piece now and trade like a normal stock,el could lines says the chart can tell you something m

so we are focused on these areas. >> china's warren buffett. >> i love that you asked him about that, as well. and he said, we consider ourselves buffett aplentyises. we're increasing insurance. >> wouldn't everyone. >> it's amazing, they don't have a direct sort of setup in china. but they are actually starting to get out of poem's money now to join -- what i thought was interesting is he said i think china can achieve a 5% to 7% growth rate. that's what stuck out to me. slowing is definitely the case and he confirms that. >>> stick around. still ahead on the program, we're going out to madrid. welcome to the new new york state, where cutting taxes for families and businesses is our business. we've reduced taxes and lowered costs to save businesses more than two billion dollars to grow jobs, cut middle class income taxes to the lowest rate in sixty years, and we're creating tax free zones for business startups. the new new york is working creating tens of thousands of new businesses, and we're just getting started. to grow or start your business visit thenewny.com lets you jump backw

finally tonight do you want to invest, like warren buffett? there is an application for that.led by-billionaire, and it plays to help you invest. perhaps make you one yourself. that is the promise. it is available to download through the itunes store very popular, supposed to attract money moves of ten billionaire investors including warren buffett, carlcahn, david einhorn and compares your portfolios and offers you in it -- advice. if you want the same returns as billionaires' banality have to buy the same stocks or investments that they do, but you have to get them at the same straight to the price. this application does not have real-time access to up portfolio changes but gets its data from fcc filings, so if your hoping to become a billionaire overnight, you know the answer. forget it. that's my "2 cents more". ibillionaire, i can dream. coming up tomorrow, the business of taxes. your last minute tax tips as we head to the final week of tax season

this takes bill gates and warren buffett who have $30 million, $50 million and puts them to shame. washington was an interesting character because as president of the united states he was the richest president we ever had. but i want to talk about rockefeller and talk about rockefeller's death because it was not quite what he was hoping. he hoped he would live to be 100 and he made it to 97. and there was the whole question of how to lay him to rest, this is very rich man. his favorite place was right here in florida and that is where he spent most of his final years suppose there was a small sort of -- he was taken in a casket to his home on the shores of the hudson river built for him by his son. a far grander place than he wanted to be, but nonetheless he did spend time fair and so there was a service there with organs playing softly, in his music room and after is that, he was loaded on a train again to be taken, his body, to cleveland, ohio where he began his business career and he was buried there next to his mother and his wife, and i am sure within the family there was cons

warren buffett, berkshire hathaway owns a significant slice of mastercard. mastercard stock hit a record high today, climbing nearly 2%. buffett owns 405,000 shares of the company. that means he netted a one-day gain of $4.2 million. not bad. getting money today, apple. it sold $17 billion worth of bond. it's the largest non-bank bond deal in history. apple is planning to give $100 billion back to shareholders by the end of 2015. the bond sale will help finance it. those shareholders are not complaining today. the record bond sale helped apple's stock climb 3% the. >>> also making money, richard schulze. he is founder of best buy. best buy sold off its business interests in europe. shares soared 7%. the schultz owns a 20% stake in the company. that means he score ad gain of $125.5 million today. what. even when they say it's not, it is always about money. melissa: all right our top story tonight, talk about some serious economic mood swings? some big data points coming in today. consumer sentiment index shot up in april. home prices soared to the highest lev

maybe not as famous as warren buffett but his investing style is and it's paying off big time. you will get his picks coming up. >>> faceoff, a blow out quarter but some are battling over netflix's next move. we have a halftime smackdown. >>> first our top story. better than expected earnings from big companies have stocks once again moving higher. what's it mean to the rally and is it about to resume? we are trading the action today with anthony, steven weiss, josh brown and mike murphy. josh, there were many reasons to be cautious last week. >> yeah. >> good p earnings today. are we going to pick up where we left off? >> seems that way. we had diver jenss to kusd on the head and shoulders pattern. we had distribution. these things b have been resolving to the upside. the market is unphased. the new leg in the bull stool is they are saying europe will change its outlook on austerity. here's the truth. you have a 70% beat rate. we are 20% through s&p earning. that's not bad. on top of which there is a 16 multiple. it's not the 12 multiple we were at but it's not where the bull

warren has. whoever replaces mr. buffette road is not going to be able to keep preaching that america's greatest days are ahead. and they're not going to get to ride that coattail of building up the biggest empire that's been seen in the last 50 years. so, realistically, that'll happen when a predecessor, when a successor comes in for mr. buffett. that's realistically when that'll happen. >> what about the other -- what about the others? what, as far as ebay? >> yeah. ebay, united continental, bed bath & beyond. >> yeah, united continental, it's such a unique story. it's almost like the gold miners saying, we're going to pay dividends, but we're only going to pay themselves as long as the price of gold is high. so for an airline, they have to fund it out ofç their cash flo as opposed to eating into their balance sheet, because we've all seen what happened after september 11th. we all saw what happened in the recession. airlines get killed in bad times, so they need, they really need to maintain strong balance sheets. and th

warren buffett has put 4 billion dollars into solar projects in california and now mosaic lets individuals do the same thing. > > billy parish from mosaic thanks so much. thank you bill, still ahead....could april showers bring may profits? we'll get a check up on crops, right after this. it's the most wonderful time of the year for corn planting.but its a wet week and that's delaying what could be the beginning of the biggest bumper crop of corn since the 1930's. jack scoville joins us---where are we in terms of the crop insurance threshold for planting? > >really this is normally the time of year when the farmerjust begins to plant anyway so the crop insurance threshold is several weeks off. it's not something that we're worried about right now. > > would you be worried if you were a farmer about frost at this point? > >that's more of a possibility, especially conisdering the size of the system that's moving across. i know that that was a concern with wheat prices here on monday when wheat prices in kansas city went a lot higher and that was probably due to frost. nothing has really been

the warren buffett theory, we talked about this a week and a half ago, jp morgan was up near 51. now near 47. it's an opportunity. a lot of people are going to pass up. the earnings are going to blow it out of the water next friday. >> dr. j.? >> i put on the vxx. i was long calls in the vxx, short puts to pay for it. that made a move of 6.5%. that more than offset any of the longs i had in my portfolio. as most folks know, i have precious little of that lately. the one exception really was some energy names and bank america. like pete said, i think since march 20th, the airlines have been in a corrective phase. i think the banks have been in that same move. you talked about jp morgan. you get a chance to get into those names. i talked about, judge, about trash. they're buying trash today. they're buying coal names, buying gold, buying silver. that's where the institutions are committing new capital today. they're not chasing the things that were up big. they're instead buying the cheapest, you know, house on the block if you will. >> all right. our next guest is not surprised by

warren buffett does not agree. his business wire firm, which puts out press releases and regulatory disclosures, has some real concerns about this new ruling. joining us right now to talk about it is the president and ceo of business wire, kathy baron tamraz. thank you so much for joini ini us. >> nice to be here. >> help us understand and your reaction to the s.e.c.'s decision for companies using social media to communicate company announcements. do you believe it's not as big an audience to warrant such a disclosure? >> well, today, i mean, i think 12% of internet users are on twitter today, so it's pretty small. we embrace social media. we've got 61 twitter feeds, and we see it as a real compliment to the wire, but as far as a stand-alone, it really doesn't compare to the push distribution that we offer to our clients. and it's also the idea of safety and security as well. >> understand, but i don't think the s.e.c. is saying that twitter or social media would replace traditional avenues of communication, do you

i do like that for any dividend interested investors, but it's kind of like the warren buffett stylebuying, if you buy a gm or a ford, they've already kind of taken their lumps. right now, they're very profitable. we have pent-up demand. we have -- we were coming out of a recession. we have -- they've got the infrastructure built. they have the broad product lines, whereas tesla doesn't really have that. and i really anticipate, you're just buying low right now. >> all right, guys, we'll leave it there. we'll keep checking back on this very important story and interesting to watch the developments certainly on that electric car. gentleman, thank you very much. we'll see you soon. who knew china was so delicate? not the dishes, the nation! the big studios are changing movies to keep china happy. and apple practically on bending knees apologizing to the chinese. how far should u.s. businesses go to make sure china's communist government doesn't shut them out? we'll debate this touchy issue. >>> and then with college costs going up, out of control, really, is a four-year degree still wo

that's because warren buffett is not taking income, obviously. and, you know, he's got his tax -- >> he's gaming the system. >> because he's got, you know, taxes on his investments, whereas his secretary is getting an income and she's paying income taxes. so that's apples and oranges. and that's been going on from day one when the president started his tenure four years ago. so how come the president hasn't changed that already? >> well, the president has been as opposed opposed to this from the beginning. >> but he's the president. how hasn't he changed it? >> as you know, maria, we have a constitutional system that makes congress make the law and the president sign it. we're making a lot of progress, digging out of the hole the president came into office with. we've added private sector growth, 6.5 million jobs. the president has a plan to build on that progress. >> i think that the numbers are deceiving. i think that when you look at the number of people who are gainfully employed, the number is less today than it was five years ago. and it's

. - you are telling me about how warren buffett, with all of his billions, he doesn't even pay estate tax. it is amazing how there are apparently so many loopholes involved. - they're not even loopholes. they are all right out in front in the tax code that people can take advantage of. you have 6000 pages in the tax code, they don't want people to find out, but i know where all these provisions are, and everyone can take advantage if they really want to. - that's why we have to hire estate tax lawyers. all right steven, thank you so much. - thanks bill. thank you bill. still ahead, why analysts are feeling bullish ahead of goldman sachs earnings. plus, what analysts can already tell about next quarter's bank profits. goldman sachs is the latest bank to report first-quarter earnings. analysts estimate shares will be up from earlier consensus to $3.75. however, revenues are predicted to fall 19% from last year. yesterday, citigroup reported earnings that rose 30% in the first quarter, exceeding analysts' expectations. profits totaled $3.8 billion. simliar to other banks, citigroup has b

. >> one of the most popular and well attended meetings is berkshire hathaway, warren buffett's company. next saturday. >> you will be there. >> 40,000 people as well will be attending it, it's huge. all coming to hear what the oracle of omaha has to pay. >> happy shareholders, most of the time. >> have a great trip. >> coming up, four stocks at this week's market monitor says you should own right now. but, first, a look at how international markets fared today. >> we talked about it a lot on yesterday's program. congress working to reach a deal on airport travel delay because of sequester cuts. today the house followed suit to the senate's plan. giving a green light for the department of transportation to use unused funds for air traffic controllers furloughed. clear howuickly the furloughs workers will be back on the job full time. shares were mostly higher on the day. >>> also higher today, dr horton, that's where we begin today's market focus. shares surged after the company reported second-quarter earnings and revenue well above expectations. and the nation's largest home builder e

- a name like conocophillips has come down as well, certainly that is a warren buffett name. chevron hasn't really come in too much as a higher p/e and higher yield, so that is a stock i would probably be a little bit cautious, but certainly conoco would be another big name that i would look to be adding at these levels, and certainly on any further pullback. - good to have you on the show this morning. thank you tim biggam of trading block. - you bet. thank you angie. the time has come for us to say so long for now, but coming up on monday, the real reasons why so many americans are afraid of the stock market. from all of us at first business, have a great weekend!

to grow in their vaults because they would go for now and one of the world's richest investors warren buffett reckons that the total amount of above the ground gold in the world is fitted to a cube of size of just twenty meters or sixty seven feet which is actually pretty small you with so how does he even know that well it's not a guess but an actual official. and new gold survey from reuters our latest figure for all the gold in the world is one hundred seventy one thousand three hundred tons which is about actually the size of the wimbledon sent to court tennis court records. right then so moving on now big depositors cypresses largest bank may be forced to accept losses of up to sixty percent far more than initially estimated under the european rescue package to save the country from bankruptcy and a large savers the cyprus popular bank which would be absorbed into the bank of cyprus could lose as much as eighty percent accounts of the bank of cyprus would lose up to forty percent so for more on these figures to give us a bit of insight we've got assets and i put a cave are right here too

they met warren buffett, but after buying lehman brothers and losing big, they made some changes. >> we have put in stop loss orders. >> no stock has them as divided as apple. >> i'm bearish on buying more apple. >> i feel like sometimes we sell too soon. >> keep it. and buy more. >> now as the markets hit new highs, many clubs are trying to figure out what strategy to use. the women believe the market is due for a correction. the club in chicago agrees. >> the market is priced to perfection. >> even when they think it's topped -- >> it's going parabolic. >> you have to wonder. for "nightly business report," jane wells, los angeles. >>> it's no longer take me out to the ball game. you can take the ball game with you wherever you go. a major business for major league baseball. but first, let's look at the commodities and the treasuries traded today. >>> the sport revels in the past like baseball, now major league baseball is finding real money, its real moneymaker is in the future. as brian shactman tells us the future is now. >> throw that pitch. >> opening day at mlb advance media.

millionaires pay a smaller percentage of their income in taxes than much of middle class america warren buffett for example pays a lower effective tax rate than his secretary so calling on millionaires to pay their fair share the president's proposal appeals to the majority of americans but the country's millionaires and billionaires the two percent that is could soon be packing their money to fly elsewhere major u.s. companies have already stashed around one hundred seventy billion dollars in offshore accounts to save on u.s. taxes the same goes for wealthy individuals even the former president and presidential candidate mitt romney parked his millions in cayman islands which apparently have a better fiscal climate here inside the u.s. many high earners move between states to save on taxes to places like florida or texas neither of which collects state income taxes or state taxes then there is the recent european millionaire exodus particularly from france which under president francois hollande has been weighing a proposal for a seventy percent tax rate on millionaires so president obama's ta