warren buffett even said another announcement is made, there will be a trade by every trader.t do you think? >> they made the announcement last time to speak to people interested in the home mortgage market they are saying a better hurry up and get my mortgage. it could have a positive effect. the same way if you're going to borrow, you know the rates are going to climbs sooner or later. the chairman is there until february depending on when the new chairman is appointed, i thought he would want to do something on getting out of the program. if you go into the program you have a plan to exit the program and he would want to start the exit before he left. liz: i am dying to hear from both of you who you think the suucessor to ben bernanke will be. staying with us through the next block. what the insiders think will be the decision. we've got about 47 minutes before the dow jones industrials closed as well as the rest of the market. coming up we have more with the fed panel fund. chairman and ceo, why the investment, what does he need to see from the government, from the economy

just get out there and say warren buffett is a graduate. those who want to be the next warren buffett in their field, wait until you hear how his business school of modern is shifting with the times. columbia business school guiding students to tech, not just high finance and paul street. in a moment the school's dean telling us what it takes to succeed in today's highly competitive business environment my crew. ♪ the boys used double miles from their capital one venture card to fly home for the big family reunion. you must be garth's father? hello. mother. mother! traveling is easy with the venture card becau you can fly any airline anytime. two words. double miles! this guy can act. wanna play doe rock? oh, you guys! and with double miles you can actuay use, you never miss the fun. beard growing contest and go! ♪ win! what's in your wallet? ♪ liz: columbia business school has produced some of the brightest minds in business and some of the most successful and some with both. from warren buffett to mario gabelli and now columbia students a

from warren buffett. buffett, one of the world's richest people is gradually giving away his $58 billion fortune. more than 4,000 people have signed up for his online course. they will learn how and where to donate more than $100,000 of buffett's sister's money. >>> and "despicable me 2" was top at the box office for the second consecutive week. the animated sequel took in more than $44.5 million in ticket sales. "groan "grownups 2" was in second while "pacific rim" was in third. i saw "despicable 2" this weekend. it was hilarious. >> that's on my kids' to-do list. >> you'll like it. >> all right. thanks, ashley. ashley morrison here in new york. >>> coming up on the "morning news," hollywood tragedy. the search for answers in the death of "glee" actor cory monteith. this is the "cbs morning news." is is the "cbs morning news." b? ♪ ♪ dry hair needs a daily dose of effective moisture. new dove daily moisture has pro moisture complex that goes deep down to hair's cellular level. it moisturizes to give you

those are the beds by the way i think he will -- warren buffett was very negative on facebook. gerri: but the long-term impact with the ipo is that makes for a market less predictable and less an understandable and individual investors have less confidence. >> do you know, what i think? i. c. qe2, three, four or five or six is more problematic to the long term investor than anything you presented because we are devaluing the currency. >> but that is what people say. >> is a destabilizing impact to print money. gerri: also a loss of consumer confidence in the market. when i hear from the words that is what they complain about. >> long-term uncertainty am not saying it will cause inflation with the financial crisis but the long-term certainty is much more problematic than the flash crash. >> my father-in-law's says it is rigged against the little guy that is where he doesn't invest. >> myook inside trading talks about that but that is not what is keeping the matter the market but they are worried of the other issues. gerri: and ben bernanke. you are right. figgie for coming. >> g

neil: john hudson senior, and i think warren buffett has said their goal is to die broke. they want to give it all away. i wonder with your three children, have you told them that is your goal? if they're looking at a huge inheritance, it and come in? >> we have talked to the kids about the vast majority of the wealth is going to the foundation. all of his money spent within 10 years after his death, the money will be in foundations, but even there after, our foundation and his children's foundations. our foundation is set up so -@after melinda and i are gone, our foundation will spend the money within 20 years. our kids are excited about the foundation work. they will get a great college education and some support,o they are very, very lucky. neil: do any of them have to worry? >> not at all. if you get to gigantic levels giving a kid hundreds of millions or billions of dollars, it is not good for the kids or society. neil: from the country's richest man to the ceo who is pretty rich in his own right. on why making lots of money shouldn't be a sin in this country. and the

. >>> on the "cbs moneywatch" the shrinking deficit and warren buffett makes a big donation in charityley morrison is here in new york. good morning, ashley. >> reporter: and good morning to you, anne-marie. asian markets bounced back, slight concern over china's efforts to reform credit. hong kong's hang seng earned 2%. >>> wall street with financial tightened wells fargo and chase the dow rose 88 points while the nasdaq added five points. >>> the deficit is down according to a new white house projection. the federal government is spending $759 billion more than it is taking in this year. that's down more than $200 billion from earlier predictions. the improvement is credited to the automatic spending cuts triggered by the financial cliff and increasing revenue from an improving economy. >>> consumers are whipping out their credit cards more often. sending consumer borrowing surging. credit card use has soared to its highest level since fall of 2010. americans increased borrowing in may at the fastest rate in a year. experts say a jump in borrowing means people are feeling more confid

warren buffett is auctioning off another business lunch at a california candyland. i wish i was made of money. i wish you were too. chances are, you're not made of money. so don't overpay for motorcycle insurance. geico motorcycle. see how much you could save. load the bases for the local economy. 15:45:25:0 ery >>> ken bastida live in livermore where a little league world series tournament to load the bases for the local economy. >> reporter: this is good news for the city of livermore, allen. they are going to be hosting a big parade within the hour to kick off the little legal world series being played here. you say, wait a minute, williamsport, pennsylvania, isn't that where they play it? well, they do. but this is a new division in little league. same little league, new division, called the intermediate division. as you know, in little league you can play until you're 12. this division allows you to play until you're 13, a year later. they also moved the bases out a little bit. they're 70 feet as opposed to 60 feet in regular little league and they moved the mo

capital, against warren buffett against these guys, you'll lose.lusional aspect to the waisome business channels present the news. we don't at fox business. you can trade with the big guys. you really can't. i mean, you can invest. markets aren't skewed against long-term investors. but if you're going to trade against them, they have access to information you'll never have. some of that information is called illegal inside information. that's what i wrote about. >> you've named names in this book. how is the vetting by the attorneys? >> it was heavy. it was grueling. it was like a workout but it was worth it in the end. listen, one thing i pride myself in is trying to get stuff right. you don't want to get stuff wrong. i want to be fair. everybody in this book got calls. >> who are these people that you name? let's go through the names. the people that you talk about. steve cullen, s.e.c. capital. everybody thinks warren buffett is the greatest investors in the last 40 years. in the last 20 years, it's steve cullen, s.e.c. capital. huge firm and fu

. >> we're getting breaking news right now on warren buffett. want to bring this to you right now.t finding out that warren buffett bought 639,000 shares of davita health care partners incorporated. this will take his holdings in total to almost 14.5 million shares but again a major, major purchase coming from warren buffett, the day after 4th of july, a low volume day. we find out mr. buffett is buying 639,000 shares of davita health care partners. this filing just coming in and beinged picked up. i want to give you to that news now. ticker dva on davita. david: not changing the stock very much after-hours. things are very tense in cairo. military vehicles were rushing into a bridge over the river nile. as you see live pictures it is still a hopping situation with muslim brotherhood against the folks who support the coup. all this is many coulding to a head. don't go anywhere. the latest is coming up. @í0x;t cheryl: fresh clashes in egypt right now. supporters of former president mohammed morsi battle the security forces and rival groups in cairo and other cities. david: jo ling

. >>> starting today, you can learn how to give away money like warren buffett -- from warren buffett one of the world's rich he was men is giving away his $56 billion fortune. -- he is gradually giving away his $56 billion fortune. thousands of people have signed up for his online course to learn how to donate more than $100,000 of buffett's sister's money. hope she is knows about that. twinkies are returning to store shelves today. walmart has it in 1600 stores nationwide last friday. coffee cakes, ho ho's, suzie qs and others will be available this week. i never thought zingers got the respect they deserved. >> my favorite. >> thank you. >> we digress. >>> we're big wine buffs here outside of san francisco. but coca-cola and wine? not so sure that sounds so good. >> reporter: i have a rouge suzette. it's 75% wine, 25% sugar water and cola flavoring. apparently, this is already popular overseas. one wine critic says she has seen young people in spain buying the cheapest wine and then mixing it with cola. >> ew. >> so it's like when you buy that boons farm for $2 strawberry hill back

warren buffett is offering a free online course how to give money away. yes, give it away, i kid you not. buffett is teaming up with his sister doris, cal ripken jr. and ben & jerry's ice cream, among others offering courses. they're going to give away $100,000 of not warren's but doris' money. >>> straight ahead, a big weekend in sports for philly and all your highlights coming up with betty nguyen next. >>> and now let's get the latest in sports from my colleague betty nguyen. betty, good morning to you. >>> good morning, happy monday, venezuela. all right, top sprinters they actually failed drug tests including tyson gay who is pulling out of the championships next month in moscow. jamaican sprinter mustafa powell and sherone simpson also tested positive for banned substances. yankees a-rod moves up and the may be talking a deal with major league baseball. the new york daily news that a-rod could be given a 150-game suspension for connection to the investigation. >>> and chris davis hit his 37th home run to the reggie jackson record actually beat that.

warren buffett has some simple tools that we can talk about. one of his greatest steps was not to lose money. he stated that you should focus on not losing money. it is kind of silly, but a lot of people will speculate their stocks. they sell low as the blind eye. >> you want to accumulate wealth about 15 percent of your paycheck automatically pulled out. you will accumulate wealth. do not try to time the market. to a number 2 from one buffett is by a wonderful company. you should buy a fair company. he should be proud of a company that to invest in. a company like apple, they have been around for years. but do not look deck co. stating that it is cheap. that is not a good qualifier. make sure that if you buy stock that you want to own for 10 years. keep in mind that when you buy stock, you are a owner. the fearful when other people are greedy. >> why not and that your assets in companies that relied. i think that is a good concept. when buffett has showed us this time and time again. he is a great investor with a really good philosophies. [ ma

kind of like when people celebrate warren buffett for eating at wendy's. like, that's fine, dude. you have a lot of money and you're not spending it. >> or living in the same house in omaha. >> right. i think what matters more in the buffett example, although that often goes in the stories, is that he has put money and energy and resources towards humanitarian projects. if he did that and ate lobster, i think it would be equally morally valid. talk to us about something you mentioned earlier, that they did spend 12,000 pounds to be in it the private wing despite the fact that many people in england are rightly proud of their national health care. >> well, thank you for attempting to conceal your own jealousies about their wealth. i, too, find that difficult. one of the most touching things about what happened today was that prior to the prince and princess coming out with their new baby, all members of staff were allowed to align the steps. i can tell you because my wife has worked for the nhs and very proudly as a nurse, as a midwife, as a health visitor, and as a community staff

billionaire warren buffett is acting the part of the famous candy founder. investor is auctioning off c's candy factory. the current bid is $35,000. he'll demonstrate the only acceptable way to eat a bon-bon. and i say that's by the dozens. >>> coming up, a spectacular spin-out in belgium and all your sports highlights to boot, you're watching "early today." >>> and with that, the latest in sports for you this hour, we were reminded of the quintessential question in baseball last night, safe or not. tampa leads boston. the red sox slides. out. now, the replay, though it seems to show that he's safe. tampa gets the win, though. what do you think? tampa gets the win and first place by half a game over boston. >>> in cleveland, game tied in the ninth. jason giambi cracks the winning home run. 3-2 over the white sox with that one. 42-year-old giambi, the oldest player to hit a walkoff homer. next if line, hank aaron. the lawyer for alex rodriguez is going to fight any suspension. his lawyer said they're focused on an appeal. the question is whether or not he'll

nv energy, which is being acquired by warren buffett's berkshire hathaway, they can surge the grid withlectricity in only ten minutes when needed. the grid operators were warning residents in the northern part of the state, they must reduce power usage over the next few days. as demand for electricity returns to prerecession levels. >> vegas casinos are hoping it keeps tourists inside at the gaming tables. after a strong start to 2013, early numbers for the second quarter show a drop from a year ago. this weekend, wynn resorts says it was nearly sold out. mgm said the change it saw was fewer people from the pool. as long as someone from out of town was braving the heat, somebody hoping to make a buck wouldn't be far away. for nightly business report, jane wells, las vegas. >>> still ahead, would you buy an expensive piece of art online. amazon is making a bet you will. first, a look at some stocks that hit all time highs. >>> the dual over dell has entered a new chapter. dell's board says its special committee has reviewed carl icon's latest proposal. ikon has secured financing in hopes

. ♪ i want candy >>> and this morning, warren buffett, the new candy man.he billionaire is auctioning off a tour of his famous chocolate factory. the real-life willy wonka will give someone the secret to some of the most famous candies in the world. ♪ there's no life i know to compare with pure imagination ♪ >>> and good morning, america. now i don't know if warren buffett is going to wear the top hat and sing, but i love the story. all for charity. all to benefit children's education. more on that ahead. >>> check out this extraordinary video we just got in overnight. tornado trapping people inside this building. watch as it comes right up against the glass. and sam is going to show us everything in just a little bit. >> it's like a scene out of a movie, looking at it like that. >>> let's get right to the breaking news. the propane plant explosion outside orlando, florida. steve owe ssunsami joins us now. >> reporter: good morning. these are live pictures of that fire still smoldering. the plant makes those propane cylinders you exchange at the grocery sto

the famous candy company founder will be played by billionaire warren buffett.s auctions off an all you can eat tour of the berkshire hathaways sea's candy in los angeles. by the tour's end buffett will apparently demonstrate the only acceptable way to eat a bon bon. is there only one way? >>> coming up a spectacular spinout in belgium and all of the rest of your sports highlights with richard lui. you're watching "first look" on miss nbc. [ female announcer ] aveeno® with soy helps reduce the look of brown spots in 4 weeks. for healthy radiant skin. aveeno®. naturally beautiful results. because all these whole grains aren't healthy unless you actually eat them ♪ multigrain cheerios. also available in delicious peanut butter. healthy never tasted so sweet. >>> it's time to dig deeper into our top political stories and joining me in the studio for our first look at politics is boris enstein, contributor for "the daily column." anthony weiner you have the poll saying he should get out of the race. why is this guy being so defiant. what does he have to gain? >> ver

ted turner, yoko owner, warren buffett and so on. what if they got together and in one year top down bottom up with the resources and the smarts in a found thousands of local community leaders, started to clean election party, did all kinds of innovative things. could they turn the country around? i put it in grade realistic detail of how they start it by renting a hotel in maui on a mountain, or they got together and planned it. and how far they got before the corporate moguls learned of what they were doing by may of that year or april, the techniques they use, how they used the money. and the whole thing was done with $15 billion. and warren buffett as described coming back from maui on one of the trips as saying tuesday, you know, we did all this on fortune, turned around. when i signed the book i always say to imagine this to envision. we don't do that anymore. russell jacoby wrote a book 15 years ago called the end of utopia, and by documen that he t that the academic world does not imagine new possibilities much anymore. we're

class started yesterday and participants getti to give away thousands of dollars courtesy of warren buffettipken, jrk the founders of ben ander is's and more. more than 4,000 people havee signed up and registration isio open through the end of july. j interesting on how to give it away. >> sounds like a good idea. >> the best way to invest it, probably in different things, ti give it away to charities and who to give it away to. >> interesting. >> when we come back a local artist is turning tragedy to triumph. >> eventually we're going tong march because we've got to to change things. >> how one woman is using her talent her honor her husband an push for better health care, too, next. >> welcome back. taking a live look over washington, d.c.wa a d.c.sh artist turned her talet to a passion for better health care. she started painting murals on wall and now she's expanding her canvas to something much bigger. >> her walking gallery is spreading the message worldwide on people's' backs. we have the story.r >> right now i'm working on thet hour glass itself and building out the sand.. >> e

so according to obama bubbles are the riches fault so while romney and warren buffett are distracting the president with their bubble guns the federal reserve had their hands compressing interest rates to a store close fueling tons of money into the financial sector this coupled with government policies that supported housing initiatives some of which obama voted for when he was in congress helped inflate the housing bubble you can't have a bubble without middle class participation the one percent were buying the securities that made up of the ninety nine percent it wasn't the richest fault it was the system and pleas wealth concentration is simply a side effect of a bubble not the cause and you can't fix the problem if you don't know the cause but don't worry because the white house has a better bargain for the middle class that's the name of his plan and he went so far as to say that whatever executive authority i have to help the middle class all use it so if congress won't pass the bargain held by perhaps the hill probably by executive action to get its way but that's one of the p

so according to obama bubbles are the riches fault so while romney and warren buffett are distracting the president with their bubble guns the federal reserve had their hands compressing interest rates to a store close fueling tons of money into the financial sector this coupled with government policies that supported the housing initiatives some of which obama voted for when he was in congress helped inflate the housing bubble you can't have a bubble without middle class participation the one percent were buying the securities that made up of the ninety nine percent it wasn't the richest fault it was the system and please wealth concentration is simply a side effect of a bubble not the cause and you can't fix the problem if you don't know the cause but don't worry because the white house has a better bargain for the middle class that's the name of his plan and he went so far as to say that whatever executive authority i have to help the middle class all use it so if congress won't pass the bargain held by the hill probably by executive action to get its way but that's one of the perk

. >>> warren buffett is raising money for charity. he is offering to play tour guide at the sees candy factory in los angeles for the winning bidder and will demonstrate the exceptable way to beat a -- acceptable way to eat a bonbon. bidding hit $35,000. there are 15 days left to bid. the money will benefit los angeles communities in schools. >>> up next, changes at sfo following deadly crash at the airport. >> we go into the cockpit with an expert to explain why some airlines are under new rules and why a optical allusion may be getting some pilots into trouble. >> and a white house visit by the san francisco giants. >> and 60 years after the korean war a military veteran now comes home. look at 'em. living on cloud nine with that u-verse wireless receiver. you see in my day, when my mom was repainting the house, you couldn't just set up a tv in the basement. i mean, come on! nope. we could only watch tv in the rooms that had a tv outlet. yeah if we wanted to watch tv someplace else, we'd have to go to my aunt sally's. have you ever

british american tobacco, berkshire hathaway, a big warren buffett guy. how do you pick a stock?hreshold for you when it comes to things that matter when you're picking names? >> we want improving economics or management for all shareholders and undervalued price. liz: do you talk to these? regulation fair disclosure, it is a big difference. >> you can learn a lot by watching. i know you are consistently good, that is a lot of the same with management. they do what they say they're going to do. are they always perfect? we study the management, we visit the companies, we visit the assets, but are the businesses getting better. liz: now let's go to brazil. there is unrest, but you like one name in particular which is a mobile payment name. >> the dominant credit card and mobile payment company, 13 times next year's earnings, yields 4% in the world is going to plastic and mobile payments. liz: does anybody use cash down there anymore? >> they do, but less cash, so there is money to be made. liz: how do you buy this stock? >> would like the local shares, so you have to go to the area

you know warren buffett. >> but i don't know how to eat bonbons or how he knows. >>> a new bank raterm investments compared to 23% who choose real estate. >> 16% picked gold and other precious metals. only 14% favor the stocks, and 8% go with bonds. jim ellis is the assistant managing editor at bloomberg business week and join us at the table. good to see you again. >> good morning. >> are you surprised the number was so low with the people who were investing in stocks? >> i was surprised in the sense that we've had such low rates on cash in the last four years that you would think that most people would say i've got to get higher rates, but so many people were shocked by the crash, they are sort of shell-shocked. they don't want to take any risk. and in the long haul, that's going to hurt. >> because once you've been burned, isn't it hard to jump back in? >> it's hard to jump back in, but so many people are now facing a time in life when they're going to have to live off savings, they're going to have to face up to this. a lot of people forget boomers are such a huge percentage of t

. ♪ i want candy >>> and this morning, warren buffett, the new candy man. the billionaire

. >>> meantime, oracle warren buffett giving away $2 billion in stock going to the gates foundation.ting 17.5 million class b shares of berkshire hathaway. they do a number of things focused on alleviating global poverty. back in 2006, buffett signed the giving pledge along with bill and melinda gates and billionaires promising to give away half of their wealth in their lifetime or after their death. buffett is going to give away all of his shares in berkshire hathaway. >> thanks. >> we'll be right back. my name is mike and i quit smoking. chantix... it's a non-nicotine pill. i didn't want nicotine to give up nicotine. [ male announcer ] along with support, chantix (varenicline) is proven to help people quit smoking. [ mike ] when i was taking the chantix, it reduced the urge to smoke. [ male announcer ] some people had changes in behavior, thinking or mood, hostility, agitation, depressed mood and suicidal thoughts or actions while taking or after stopping chantix. if you notice any of these, stop taking chantix and call your doctor right away. tell your doctor about any history of

i go back to what warren buffett said, give greedy when everyone else is fearful. a time when people are arful, it is gold and gold stocks. the most oversold relative to gold as they have been at least since 1939. honestly, i would buy some of the biggest gold miners in the world. someing like that. they have a nice dividend yields and billions of dollars of cash on the books to support themselves of this turnaround. tracy: this is a great little debate that we had. thank you so much for being with us today. of course we want to know what everyone else thinks. here is our question. what is your personal economic outlook? better, worse, the same? bogdan and vote on the right-hand side of the screen. you will share the results of the end of the show. so later in our show, a private digital data is only a search away. they're is a way to fly under their radar, and we will show you how to do that. next, obamacare mandates getting kicked down the rd. still a good time to call code bleu on the rest of the president's signature law? we will be right back. ♪ ♪ tracy: obama

. >> warren buffett has a new fundraiser.auctions off a lunch date to resolution money for a church in san francisco where his late wife used to volunteer and now he is planning to auction all you can eat sour of see's candy factory in southern california to benefit an educational group there. the investment company has owned see's since 1972 and he promises to demonstrate the proper way to eat a bonbon. >> didn't know this was a bad way to eat a bonbon. >> i thought it was just lay on the couch. >> just chew. >> chewen at clouds. >> the sun will have a hard time swallowing all of the clouds. partly cloudy with a chance meatballs. i could use a big pancakes right now. okay, radar and satellite, all quiet. visibility or wet weather, we do have drizzle along the coast. if you see it, let me know by tweeting it. fairfield shows the wins at 22 miles per hour, less than yesterday, and around the rest of our neighborhoods, less than yesterday. keep your fingers crossed so we will get the sunshine sooner than yesterday. temperatures

when warren buffett said in 2008 i'm making a 10-year bet on america i said he is the world's smartest make a 10 year bet on america, so that's what we did. everybody went to bra sir, russia, india, china, being in america was a better bet to make. all mergers are difficult. merging cultures is exceedingly difficecially in a service business. keep in mind, this is a business whose as assets go up and down the elevator. this is not gillette or proctor & gamble, whose assets don't care who own them. the service business, sensitivity about culture is most critical. that's where we concentrate. david: miles, mdc partners. great to have you. will, wonderful. >> thank you. liz: let us know if sir mortgage taken sorrell calls you. >>> some biggest names in the fast-food industry in a fight that could determine how much money the restaurant chains will make or how high or low the stocks will go. david: massive $3.7 trillion muni bond market is still reallying from the largest bankruptcy in history. is it time to head for the exits or is this a buying opportunity? or is this a buying opportunit

he is amassing a record that is about four times better than warren buffett's.istent. >> and consistent. liz: was the prosecutors would say is unusual in the unlikely. >> unless you're doing something illegal. that is part of my book. how they can to that conclusion. if you read my book still see that. i do -- it is a narrative about why they how looking at insider trading, but also -- liz: i will buy your book because that's what friends do. you never want to ask a friend for a free book. by the book to help their amazon ranking. a showed you this, actually, i showed unicycling journey -- jerseys. this is the running singlet that we will all be wearing. liz: can you fit in that? >> i'm going to hit you. liz: this weekend cheryl and i are competing in the new york city triathlon and we're doing it to raise money for our returning monday heroes. if you help us and make a donation, heroes like this gentleman. liz: is that the first time he has been in a jam? >> u.s. marine and purple heart recipient to lost both his legs above the knee and figures on both hands wh

. >> he's got a better 20 year record than warren buffett. this guy is amazing.an anybody on paper. the government is saying he's only doing it through illegal means. >> he's in your book. >> thank you for reminding everybody about my book. >> i always do. there you go. "circle of friends." really looks like they're going after them and steve cohen. thanks very much. >>> how about this? investing in iraq. yes. really. would you do it? can you make money doing it? we have the guy doing it tomorrow, 9:00 a.m., "varney & company." right now, "the five." >> hello, everyone, i'm kimberly guilfoyle, along with dana me reyna, bob beckel, eric bolling, gary gutfeld and this is "the five." with new revelations in the anthony weiner/carlos danger sexting scandal, the mayoral race has turned into a three-ring circus. >> weiner -- >> the late-night comedians are having a field day. >> anthony weiner is saying he hopes people will give him a second chance. i'm all in

you were going after steve cohen, better investor than warren buffett. that's a story.int is, do you -- the u.s. government, there's political motive to this. did not have scouts coming out of the financial crisis. i've done a lot of research and people admitted this, off the record, needed a sexy case to appease the public, and here it is. but i will say this. there is a law, an insider trading law, people who did violate this with impunity, steve cohen's firm, steve has never been charged but a lot of people at the firm that have. they believe there's -- where there's smoke there's fire. >> neil: bottom line, mean, it is, as you point out in the book, still a lopsided -- small investors -- >> even of you take insider trading out of it, she small investor should not be going out there rolling the dice against the big guys. >> neil: do you think is a rigged? >> if you invest in index funs it's not rigged. why roll the dice when these guys we you can invest in these things. >> neil: charlie, the book is great. circle of friends. phenomenal book. puts everything in perspe

you mentioned one mentor, warren buffett.nother one of your mentors, milton friedman. you keep that dream alive of educational choice as chairman of the milton and rose friedman foundation for educational choice. i know that's a passion of yours. i wanted to mention that. great to see us, patrick. you look wonderful. saddle.c to have you back in the liz: thanks, patrick. >> thank you, dave and liz. my honor to be on. david: anytime. liz: looks so young. david: indeed. he looks great. we're live on the ground in egypt with the very latest. how the escalating crisis there could be actually a positive for global investors. this is a contrarian view. you want to hear it next. with the spark cash card from capital one... boris earns unlimid rewards for his small business. can i get the smith contract, ease? thank you. that's three new paper shredders. [ boris ] put 'em on my spark card. [ garth ] boris' small business earns 2% cash back on every pchase every day. great businesses deserve unlimited rewards. read bacack the chickes

. >>> billionaire investor warren buffett is feeling generous.giving five charities more than $2.6 billion. about $2 billion is going to the bill and melinda gates foundation. the rest will be split between buffet's foundation and the rest. that's your money watch. for more, go to cbsmoneywatch.com. in new york, i'm alexis christoforous. >>> coming up on wjz's eyewitness news at 4:00, mentally unstable, or just rude? we won't believe who amanda bynes is attacking on twitter now. >>> we're ready for relief from the heat. stick around for the updated first warning weather forecast. wjz 13 is always on. for the top stories on cbsbaltimore.com. for instant updates and first warning weather all the time, click cbsbaltimore.com. no i didn't. you ate the bones. no, you ate the bones. nobody ate any bones. so, frank didn't eat the bones? no honey, frank did not eat any bones. well he's breathing on me. no i'm not. yes you are. no i'm not. yes you are. no i'm not. yes you are. [ male announcer ] it's kfc original recipe without the bones freshly prepared