call today, for an appointment today. >>> warren buffett speaking out earlier on "squawk box" live andscussing how he is investing this days. andrew joins with us highlights. >> what a morning it was. warren brought us a surprise this morning. a transaction berkshire hathaway buying a large car dealership, van tile. talking about how that deal got done. take a listen to this. >> larry came by. he knew he wanted to do business with berkshire. this is just a very, very good operation. this parterer inshnership appro been adding to years. he wanted to be sure that van tile ended up in a permanent home. we worked out a deal. >> we talked about a number of other subjects in the news, specifically talked about coca-cola. coca-cola changing their pay plan for executives that had come under a lot of criticism. he abstained from the vote earlier. he had been criticized for that abstention. here is way had to say about the shift coca-cola has done to shareholders. >> the new plan makes great, great sense. they are not reducing the amount they pay. i mean a lot of people will get cash instead of

tammy, warren buffett, of course he would say that. what do you think it says about your industry, and where do you think you are in the cycle? >> well, i agree with mr. buffett. i mean, i think we're really just in the middle of the growth spurt that we've experienced for the last couple of years, and i think until we get to about 17,500, maybe even higher than that, 1 million cars a year, we won't have begun to see the downturn of our industry. >> scott, what do you think it says about the franchise model? >> well, i think that warren buffett has bet big on that the franchise model is here. it's here to stay. and it's one that we can all live with. earlier i heard you guys speaking about what elon musk is going to do. he's been trying to bust the franchise model in secertain pas of the country. now he's going to go up against one of the richest men in the world that's going to be up against one of the largest car dealers in the world. we'll see how that plays. >> what do you think's going to happen with warren buffett? do you think he

it in its own dust. ♪ ♪ >>> he's the man that many call america's greatest investor, oracle, warren buffetton set with us. warren, thank you so much for being with us today. >> fun to be here. >> there are a lot of people at home watching the stock markets who have gotten very nervous by some of the dips they've seen recently, people wonder if things are topping out. what advice would you give to people sitting at home? >> well, i have no idea what the stock market is going to do next week, next month, or next year, i do know it's going to be higher ten years from now. if you own your stocks2l<éñ at investment, just like you'd own an apartment house or farm or anything, look at them as a business and you have a group of american businesses and you're going to own it for ten years, you're going to do fine. if you're going to buy and sell based on news or something your neighbor tells you, you're probably not going to do well, so find a good bunch of businesses and hold them. >> and that's what you've been doing for decades and decades and it's paid off. >> been doing it all my life, yeah. yo

conversation with warren buffett in a moment. the gates foundation. they committed $50 million to battle ebola. plus check out the futures. yesterday we saw a big decline for the markets across the board. they are barely rebounding. at this point almost flat. dow futures down by less than a point right now. s&p futures 1.5. "squawk box" will be right back. , organic food stocks, schwab can help. with a trading specialist just a tap away. what's on your mind, lisa? i'd like to talk about a trade idea. let's hear it. [ male announcer ] see how schwab can help light a way forward. so you can make your move, wherever you are. and start working on your next big idea. ♪ >>> welcome back, everybody. we've been speaking with warren buffett this morning. got a lot to talk about. ground we haven't covered including news out of bank of america last night announcing the ceo brian moynihan will also take the role of chairman. that is a role that had been split apart back in 2008. >> 2009. ken lewis -- they tripped him of that title. then bria

they hold warren buffett on a pedestal. what do you think about that? quacks i'm not here to defend warren buffett. i think he should do more by corporate governance. but warren buffett has done -- shareholdersewed like other guys in silicon valley. i don't see him doing that. i think he has legitimately made money. i don't agree with the fact in his position he couldn't do more. start -- ing to mean, i think he's a smart guy and i think he has done well for shareholders. there are things i disagree with them on. it certainly -- i was buying my own business. they started it. i am really looking forward to going at them. i've got to tell you, there's a part of me -- my mother said i have some sort of warrior gene. a throwback to a 13th century warrior. i would rather fight corporations than these guys. >> you said that you use credit derivatives and warren buffett has called them weapons of mass destruction. >> they are different. don't confuse it. he's calling them that. i think he was more talking -- aboutthe way that derivatives used in the housing bu

warren buffett. sometimesruhle said warren buffett is way too easy on the companies in which he invests. >> i think he should do more about corporate governance. but he has done -- in other they screwed him. i do not see him doing that. i think you legitimately made money. i do not agree with the fact that in his position, he could have done more. >> stephanie joins me now fresh off the robin hood investment comments. up with a long evening with karo icon. carl was not coming at warren buffett. warren buffett made an extraordinary amount of money for himself. he does think he is sort of a calling for federal governments. he thinks warren buffett could have tightened the screw more. >> warren buffett has been on , thefor not speaking out way their compensation was structured, i've heard differently, that warren buffett operates behind-the-scenes. he is not a karo icon out there sweeting and writing letters to phone.ut he picks up the >> -- no doubt, warren buffett is intimate, but i think his style is

j's term, do you think the auto sector is near a zenith because warren buffett is buy nothing it?i think the auto sector is very, very healthy, the average car in the united states is about 11 years ol and people are starting to replace those, whether you are talking about auto parts or new car dealers or new -- or car manufacturers, i think they are all in a very good spot moving forward and people want to get better mileage, they want connectivity out of their cars, this is a pretty good cycle for the car industry r. >> some people taking this as statement that not a peak autos, that buffett is buying it. >> warren buffett saying he doesn't like debt is not doing that as the doctor pointed out, the cars, the majority are leased, rates 4 to 6%, he is reaping the rewards of stable cash flows on cars leased that is debt, not government bond, debt, a good thing, he is not stupid. >> that's exactly right. and i'm not surprised. that's what he does with insurance and then he packages it. if the rest of us, judge could go out and make a whole bunch of car loans like this and get 6%, ka

david: warren buffett lost $2 billion on big bets in coke and ibm last week. s losses could be your gain. the man with all things berkshire tells you the lesson you can learn from buffett's big stumbles, and of course his big wins. hard it can be...how ...to breathe with copd? it can feel like this. copd includes chronic bronchitis and emphysema. spiriva is a once-daily inhaled... ...copd maintenance treatment... ...that helps open my airways for a full 24 hours. you know, spiriva helps me breathe easier. spiriva handihaler tiotropium bromide inhalation powder does not replace rescue inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva. discuss all medicines you take, even eye drops. stop taking spiriva and seek immediate medical help if your breathing suddenly worsens, your throat or tongue swells,... you can get hives, vision changes or eye pain, or problems passing urine. other side effects include dry mouth and constipation. nothing can reverse copd. s

warren buffett is going to win. in the near term, elon musk wins. he has already seen his customers at tesla go beyond the early dorpts. charles: more specifically, if they get -- if these states stop giving tesla a hard time, doesn't it become a threat to the immediate model. >> i think they need to celebrate innovation. charles: auto dealers have pumped '87 million dollars into state politics in the last ten years. (?) now we know why they've done that. what have we gotten out of it? >> when they were being written hundreds of years ago that it would apply to an electric car. the tenth amendment we saw it in new jersey, they outlawed that tesla could not come in. they could allow the dlips to come in. i think a bigger issue, can america actually make a really good car. we saw another round of recalls. gm recalled so many cars today basically because of an air bag issue or a hood issue. even prior to this, you could circle the entire earth four times with the amount of cars they've recalled. >> why are you saying america? toyota has major issues. e

clooney warren buffett's is railroad.ight only have two railroads crisscrossing the country. >> regulators are worried about this. the top seven largest u.s. and canadian railroad companies that generate 90% of the revenue. that sounds like a lot of consolidated power. >> the real business improved because of the fracking the men the otherl there on hand, costs are coming up and insurance has got to be going up and they have got to get it or becauserd vehicles everyone is worried about the crashes. more competent -- it is a more complicated business. >> number two, mcdonald's. third quarter profits dropping 30%. the fourthing for straight quarter. we were thinking about places we have your have not gone to. i do not remember the last time i stepped into mcdonald's. >> i can. you did a story with the ceo. >> that is one way to go to mcdonald's. you have got to see this woman flip burgers. >> i love mcdonald's. the taste is great. they have done smart things, putting in salads. these companies, coke, mcdonald's, sears, they

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. >>> and one big shareholder in big blue today, billionaire investor warren buffett. he's one of ibm's largest shareholders. with today's sell-off, it's estimated that buffett may have lost $1 billion. >> our david faber sat down with ginni rometty today. and despite those earnings and the sharp drop in share price today rometty sounded upbeat about where the company is focusing its efforts right now. >> we're reshaping this company around analytics, around cloud and the term i use engagement, social mobile security, but all for the enterprise. collectively, almost 20% growth improved every single quarter and even individually each of those areas. analytics which ended last year at 16 billion, up in total 8%. a very large number. you take a look at cloud, greater than 50% again. and then social mobile security, every one of them. >> david faber is here with us now with more on his exclusive conversation with ms. rometty. david, welcome, good to have you with us. how big a test is this for ginni rometty? is this her first big one? is her job at stake here if she can't

see you tomorrow. >>> warren buffett says buy the dip.may be helping because stocks are doing okay despite worries over, let's see, ebola, hong kong, european weakness and even isis. mandy, of that litany of problems we walked through, what seems to be worry number one down there? >> growth. you know, i was doing quite a bit of talking with traders. a lot of them were pointing to the fears about what is going on with growth. remember from the ecb, you had draghi making those comments this morning that it's possible that the recovery will not be as strong as expte

i would never get in the way of a comment from warren buffett. this market isn't trading on hillary clinton, it's trading on the message of today. two weeks ago it started to weaken and we started getting more volatility, particularly the downside, not just the upside. couple hundred point moves in each direction. the market is probably oversold. we're at a point, if you don't get used to the volatility, get out of the market. liz: grow up, right charles? >> look for 16, 680, thursday's low, 1140. up 300 points from the bottom. that might be the next support that we have. 100 points lower than where we are right now. and a lot of good stuff coming out, definitive stuff, right. the fed minutes, corporate earnings, we hear from corporations about what's going on and get guidance, and a lot of people want to hear that. liz:. >> charles no liquidity. all these can move the markets. >> machines are doing 90% of the selling. liz: not teddy, he's not a machine, he's our guy. all of our traders. [ laughter ] teddy is alive and kick. great to see all of y

. >>> the world's greatest stock picker, warren buffett lost $2 billion in two days? >>> plus, a new look for jerry maguire and bridgette jones actress rene zellweger. >>> plus, rain inundates florida and a nor'easter heads for new england. it's wednesday, october 22nd. "early today" starts right now. >>> good morning. i'm dara brown. one of america's greatest ice sis fears realized. the fbi is watching three wanna be american teen terrorists all from denver, all girls, two sisters, 17 and 16 and a 15-year-old friend. the fbi says they were lured online through an english land waj isis video. the girls vanished last friday. they allegedly took a flight from denver to germany with plans to go to syria. their journey ended in frankfurt where they were grabbed by security. in syria, did air drop weapons for the kurds fall into isis hands. isis says yes and has the video to prove it. the pentagon is still trying to verify it. >>> good nusz in the u.s. ebola fight. an infected nbc cameraman is virus free. in just hours ashoka mukpo will be out of quarantine. ebola is about

warren buffett buying one of the biggest car dealership chains in the whole country.does he know we don't? he used to be one of the biggest cars in america. scott, back to you and the fast money team. >> we'll can't your cnbc 25 years. this time on the future of advertising. giving us a sneak peek at what advertising will look like in 25 years. julia? >> first about the 30 second tv spot. it won't look anything like you know it. it won't be something you are skipping but rather the main attraction. >> imagine walking past a restaurant and immediately seeing reviews and prices. glancing at shoes in a store window for costs and comparisons. that is the future of advertising. ed a tech company blipper already enables smart phones or google glass to bring ordinary objects to life. pointing a phone at this beer coaster launch it is a video. hovering over this pepsi can brings up the branded soccer game. where so where does it go from here? >> our vision for 25 years is a behavior like blipper would go down to like contact lebz lense human eye and pretty much anything you l

bob, you heard what warren buffett had to say about that. just his idea of a constant and steady growth. would you agree with that? >> constant and steady if he would have added at a snail's pace, i think i would have agreed. >> i think he did add that later and i think we may have cut that off. >> so we've been growing until recently about 2% real as you know with lots of bumps along the way. normal for the economy. but the question is are we upshifting from 2ish to 3ish? my guess is probably, but it's not going to be smooth. >> michelle, what do you think? >> i will say that has been one of the characteristics of this expansion particularly in the last three years is how remarkably kind of steady around 2% plus or minus. even the sail numbers, to talk about today's jobs report. i know from month to month we get volatility. we grew 180,000 in 2012. like 19 is 0,000 plus in 2013 per month. not far off of that, a little over 200,000 in -- the pace has been so steady, the good news is we've haven't shown the desill ragz. the bad news is we've

warren buffett said he is putting money on the former secretary of state running for president and winning. buffett was speaking at fortune's most powerful women's summit in laguna nigel. clinton hasn't announced she is seeking office. but buffett said her victory is "guaranteed." >>> you know what's guarantee? >> what's that. >> your forecast. >> thank you so much. yes! it's looking good out there now. a lot of sunshine around much of the bay area. still some fog and low clouds hugging the coastally, hazy. looks like plenty of sunshine and mild temperatures inside the bay. 81 degrees in concord and livermore. 64 san francisco, 74 san jose. we are going to enjoy a lot of fall sunshine this afternoon. but the fog likely to linger toward the coastline. that will keep those temperatures cool. then low clouds and fog make a return for tonight but big news is, the offshore wind going to be kicking in. if you have weekend plans, should be another spectacular weekend all around the bay area. high pressure sliding east. the marine layer may deepen so more fog and low clouds over the next couple of

interviewre on camera he addresses warren buffett warren buffett and jazz at silicon valley and discussesnintended consequences of the fed's monetary policy. ts

do you want to be a warren buffett and be greedy, or be in the sidelines? be in than out. but i do not want to be all the way one way or another. there is not an incredible appetite for stocks that there was in 2012 at 2013. he did not go up in january. that is not a huge thing, but i do think that rationally and call way, which is what i tried to be when i get scared, is that the fed is going to be there. no sign that the rulings -- of the rollings coming over. of market cap about 4% from last year, it looks pretty good. it seems like people are individually picking the names. >> i look in a forward earnings number. that line has been rising, and has been rising continuously since 2010 and late 2009. the pe is around 15 tons, and in years, profitability has been high. earnings start to falter. >> maybe i should use another benchmark. >> as long as the earnings numbers is going up, that metric is ok. so far it looks good. >> do you think we can go another 10 percent or 15% down? >> anything can happen. i will be surprised if it happens. there are a lot of b

health authorities and that could pose a risk, as well. >> warren buffett has said he made a, quote, huge mistake investing in uk retailer tesco. budget has held a firm since to 307. shares have lost nearly half their value this year alone. buffett told cnbc the investment was miscalculated. >> yeah, that was a huge mistake i made. i'm going to make mistakes, but i'm not going to make mistakes because i buy businesses i like when they go down in price. i'm just going to be wrong sometimes on the factes. >> what do you think, is the worst behind tesco? >> i think we have to see. interim results are due on the 23rd. we'll get more clarity around that accounting error and why that happened. but interesting to see warren buffett talk about tesco. apparently out of his larnlthest holdings last year, tesco was the only stock that underperformed. can you imagine looking at that statement? everything else but that one stock kept them from having a full positive. >> but not just a small blip, but you owned as much as 5% of the company at his peak time of holding. down over 50% this year. >> ab

i have to say, i was talking to warren buffett today just on the phone, and he said, look, there were two of these patients brought four blocks away. that would be the nebraska medical center. he is of the belief, if people do the right thing, then they will not contract ebola. how worried would you tell your own family to be, doctor. >> yeah, so i think we should always listen to warren buffett. even in this case -- even on public issues, i think he's exactly right. i told my family, you should not be worried. you can't contract ebola by casual activity. unless somebody is infectious unless you're exposed to their bodily fluids. >> don't you agree that getting -- david beckham the soccer star has been enlisted to educate people. and i called it prevent it like beckham. he's doing some commercials supposedly where he's going to educate people. would something like that help where you list r enlist the help of celebrities to educate people. >> absolutely. i think any strategy that can educate the american public, make people feel confident that the disease is krbl here. i think the big

they spent $11.8 billion and they have very little to show for it other than the allegiance of warren buffett who says he likes companies who buy back stock. is this the case where they please buffett and no one else. is this a tesco? is this a situation where warren buffett said it wasn't that big and i should have stayed away from tech the way i should have sdad away from airlines. i need to know this because he is an unprecedented buyer of the stock who moved the stock from the 120s with this goal in mind that the earnings were going to be there buecause of buybacks. we want earnings via growth. >> wow. tough call. >> meantime, we'll keep an eye on that. >> jim? >> sorry. >> go ahead, david. >> no, i was just going to say, jim, you know, how important is buffett then over all to the thesis at ibm? >> i think that as long as warren buffett came on "squawk box" and said he's still happy with ibm and be buy back, this is a little more like coca-cola than we thought, a little more like wells fargo than we thought. it's a lot of business here, temporary shortfall. this the quarter that makes me

this morning about the warren buffett comments.you know, the hudl tablet, the hudl1 quite well, because they sold a big number of the tablet devices. but i think in terms of looking at the bigger picture, i think really we're seeing them -- we may see them start to refocus on the core food business. we've seen them pull back from launching a smartphone. we've seen them possibly put up the movie entertainment service, blink box, for sale. and so i think -- >> possibly, we'll see. >> possibly. so we'll see. i think we'll see a stronger focus on the core u.k. food business. >> would that be a mistake, ross? >> no. of course not. it's the near term versus the long term, right? you look at it now, about 12% of all sales happen online for all retail, single figures for groceries. again, a lot of growth there. but customers are shifting. this is about a question of really are you overestimating the short term, underestimating the long-term impact of digital? by getting devices in people's hands and particularly tesco's customers, are you

i thought, what -- warren buffett, keith richards, what is going on here?t to know, like, if he hastie v tivo, if somebody is taping it for him, he puts the b and the r in there himself -- >> i don't know. good question. >> jimmy: maybe you'll run into him again. ask him. >> if i can get any words out of my mouth. but the picture actually, my friend who was saying keith richards over and over said, mr. richards, could i just get a quick photo of you and anna. and for a second, i saw zwlaus look of, he's probably taken 500 pictures, and a second of just him, a bit of fatigue and wanting to get into the theater. i said, no, that's fine. we don't need to do that. and he went, oh, no, come on, baby this is what we do, baby. and i just thought -- [ applause ] that. >> jimmy: that's what we do, baby. >> this is what we do. >> jimmy: that's pretty cool. >> though's probably one of the highest points in my life. >> jimmy: it's almost worth putting on a bumper sticker. >> i know. but then i said it for two months as a response to everything my friend said to me and

>> i always quoting warren buffett. good manager meets a business with a bad reputation, it is the repetition of the business that survives. you mentioned the prophets, they said they will double profits. they said they would double earnings per share. have been getting worse and worse for a long time here. it continues to get worse for this company. they have in painting that, they up and trying to -- have been trying to make it look better by doing sure by backs. now they have ton of debt coming due. they said they are going to have free cash flow problems. it will impede their ability to buy back-check shares and have cash flow. they are unable to get the business they want, and investments they want, and they have made that worse by doing the share buybacks and borrowing money to do so. >> is ibm going to pull through, or how wrong was word buffet about it -- was warren buffett about it? days like today were all of the gains that he has had in his investment have been erased, you start to look at that and question.

i will put that to you. >> i will just defer to warren buffett.e called his investment a big mistake. christine lagarde is calling for bold action to avoid which he calls a new mediocre. weakness.scribes a has three mediocre components. it still has the legacy of the crisis, high indebtedness, both sovereign and corporate. unemployment in many corners. those are the legacies. then we are facing serious clouds on the horizon and we have a lot of uncertainty. >> the new mediocre. let's move on. manufacturing industry fell to an eight-month low. indropped to 54 from 54.4 august. stocks will raise the day just after posting the steepest two day sales and months. they had been poised to enter a correction as pro-democracy protesters continue a week long protestation. for more from hong kong on the ground, let's bring in answer davis. what is the status of these talks that they have agreed to? will it come with anything? >> that is a good question because they announced the talks and the students seemed relatively interested last night. the press confer

liz: when warren buffett buys and sells it is really news.hire hathaway sold 245 million shares of british supermarket giant tesco, bringing holding less than 3%. tesco revealed a $400 million accounting issue earlier this month. legendary investor said the investment in the supermarket giant was a huge mistake. shares fell 3% but the stock is down 50%. david: by the way, wasn't the dallas mayor good? liz: terrific. great leader. david: we asked you on twitter and facebook do you think the market hit a bottom or is there more pain to come? ed said there looks like a pause before the rop. that is bad because i put a few bucks back into the market to try to time it right. >> liz: matt, says it is a small drop. techs look ready to suuge. david: lisa says as long as people are affect bid ebola market will continue its losses. >> number one thing to watch tomorrow, speech by fed chair janet yellen. it is a big one. listeners will listen to comments on strength of the -@economy or timing of rate hiks following this week's selloff. david: we'll watc

how wrong was warren buffett about ibm, or is i.b.m. going to pull out? buffett says it's for the long term but when you see today, where all the gains he's had and his investment has been i raced -- erased you start to look at , that question. i.b.m. has a long way to go. they really need to transform , you know, their services business. more than 50% of the business. their software business. they need to get that into this era of cloud computing and they really have to get up to speed. some are calling for more deals to buy in to get that speed but now that ginni is out from under this e.p.s. road map, the onus is going to be on her for the steps going forward and how they can keep up in this quickly changing industry. >> you know, we hear a lot, and ginni said our industry is facing a lot of change. i hear buzz words from her. cloud, social, mobile. we are moving their. there. david, do you think i.b.m. is making the right choices? >> they've bought a few little companies here and there that are clearly good decisions but you just did your interview wit

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. >> i am always quoting warren buffett. when a manager's reputation meets a business with a bad reputation, it is the reputation of the business that survives. >> he has lost a big share. >> ibm is in a crummy business and they are trying to get out of it. --y have been undertaking they were trying to double profits. seen, when you see the net income, the actual profits of the business, it has been getting worse and worse for long time. it continues to get worse with this company. they have been trying to make that look better through shared by back. they have been buying money to do shared by back. now they have $14 billion in debt due in the next four years. they won't have cash flow problems. it will impede their ability to buy back shares and pay down the debt. importantly, by lowering the free cash flow and having promised to use the free cash flow to buy back debt and to buy back shares, they are unable to get into the business that they want to be in and invest where they want to be. they have made that worse by borr

no wonder warren buffett said this was a disaster in terms of where he bought into. hathaway is still the biggest holder according to bloomberg terminal, so they will still be hurting today. >> caroline, thank you so much. bypassing the bank, some borrowers are finding it more peer-to-peeruse lending. mohammed is one of the big names in this market. paycheck all attacks, the debate over income inequality. that is coming up. ♪ >> there appears to be a new normal for the financial services industry and it does not appear to be banks. several investment bankers have --ped aboard including all three just invested in a company called orchid platform, a startup that leads -- links people with peer-to-peer lenders. a $12 billion financing round for a company called payoff. mohammed, you actually mention this company a few months ago when i asked, what are you going to do? wattage you put both feet into this company? -- why did you put both feet into this company? >> i have been concerned that there isn't enough good financial services being provided, especially to poorer ho

they have made that worse by borrowing money. >> alex, how wrong was warren buffett about ibm? y pull through in the long run? >> buffett, to his value proposition with ibm this is for , the longer term more than that. all of the gains that he has had, his investment has been erased. you start to look at that. ibm has a long way to go. they need to transform the services business. their software business, they need to get that into the era of cloud computing where they arm e moving so much more quickly than they have in the past. they have to get up to speed. they are calling for more m&a and more deals. now that ginni is out from under this roadmap, she needs to figure out with the next steps are for ibm going forward and how they can keep up. >> we hear a lot, the industry is facing change. i hear a lot of buzzwords from her. cloud. social. mobile. david, is ibm really making the right choices to manage that transition to the cloud? >> they have bought some little companies that are clearly good decisions. you just did a great interview. with marc benioff of dream force . 145,

and warren buffett's favorite, more buy backs. the analysts say it is a new beginning for a brand that's lost its way and doesn't know it. mire over yahoo!? when they look at the decisions she's facing in retro sfekt most important is to fix the relationship with japan and alibaba. they allowed yahoo! to back away from selling 122 million shares of ali baba on the day of the ipo. looks shrewd when you consider what a monster since it came public 40% ago. give her credit for keeping 122 million shares to participate in that move. one she's not getting credit for. people accuse her of spending like a drunken sailor. the only thing she spent like a drunken sailor on is yahoo!'s stock. buying 293 million shares at 26.37 per share. with yahoo! trading at $42 that was brilliant. pure genius. plus yahoo!'s stake is equal to the value of the company. at least pretax. she can monetize that in a more efficient way than people think. this stock is cheap. on top of it she made 1.6 billion in strategic acquisitions she get nos credit for. they

what is $1.25 billion for warren buffett? he gives $3 billion a year to the gates foundation, on whose board he serves. i've had rich people--very, very rich people--tell me, "we know how to make a lot of money. we do not have a clue what to do with it, and that includes us." so if we want to be very practical about it and speed things up, if we know very rich people--and silicon valley has a few of them--recognize the following: that a lot of them could care less. they want to make more money, or they're into their little gadgets. it's amazing how much brain power is being poured on technical changes and innovations of minimal significance. just look at the apps lately. i mean, they're embarrassing as a culture. [laughter] people can find ways to save millions of lives and not make anywhere near the amount of money that some little quigley app for some idiotic whim that is promoted, ok? but there are people in silicon valley--you should try to bring them together for a dinner. i would be glad to attend--who i can show can le

warren buffett rules out the berkshire hathaway plan.se the name to europe and asia. 1400 u.s. estate agencies expected to use the berkshire happily home services brand name next spring. those are your top headlines. of francerole wednesday nobel prize in economics. known for organizational research. out of the university of toulouse. looking at regulation and how financial systems should and should not run. er thisrole, sole winn year. different from the three last year. >> i want to point out i'm very impressed that you are familiar with this gentleman. rochetow jean charles better, they work within the same department at jean tirole. >> does it mean anything that the nobel committee would go to france on the heels of mr. piketty? spread it around. last year they did investments and i could this year it is more towards banks. futures have fallen 20% since mid-summer, forcing saudi arabia to rewrite contracts with asia to the lowest level since 2008. san and iraq following formally served as advisor to saudi arabia's minister of finance

interview,xclusive carlos slim calls that warren buffett, saying he should put in his own money. >> it is not a matter of giving. tonight we're taking the fight to hackers. securityr homeland secretary shows how he is battling cyberattacks with a new kind of insurance for companies. risk,re is brand reputation risk, so you need to look at this not as a technology problem, you need to look at it as is this risk -- is thi business risk. with a are partnering london syndicate to provide security to mitigate cyber risk. cyber big as this, global activity is estimated to create annual losses of $300 billion to one trillion u.s. dollars. what the future holds in cyber security. ♪ step back for just a moment and assess the current threat for businesses such as financial institutions. we'll cover jpmorgan and the loss of 76 million households. their information has been compromised. >> it is interesting you raise this issue because the actors are pretty much the same. you havessia, iran, activists and organized crime. depending on where the attacks occur you know what they are focused on. espi

warren buffett says he is putting money on the former secretary of state running for president and winningwas speaking at fortune's most powerful women's summit. clinton has not officially announced that she is seeking office but buffett says her victory is guaranteed. >>> happening today hockey season is under way. the sharks will play one of the first games of the nhl season down in l.a. they will take on the kings. l.a. eliminated san jose from the play-offs last season before going on to win the stanley cup. they were up three games to none before l.a. won the last four. the puck will drop at 7:00 tonight. go sharks! >>> time now is 5:50. the house was on fire but there were dogs trapped inside. the heart pounding rescue you have to see. next. ,,,, insurance companies are spending millions of dollars trying to mislead you about the effects of proposition 46. well here's the truth: 46 will save lives. it will save money too. i'm bob pack, and i'm fighting for prop 46 because i lost my two children to preventable medical errors and i don't want anyone else to lose theirs. the three provi

the common thread is both big warren buffett names. >> 16% in coca-cola. >> 9% outstanding?nt. enormous companies. when it comes to ibm, the whole theme of the marketplace which we heard from ebay, hewlett-packard and we heard yesterday from ibm. >> tesco in the u.s. the market was moving too fast to respond. >> coca-cola weighing on the dow. the company's conference call is wrapping up. his long day of doing it himself starts with back pain... and a choice. take 4 advil in a day or just 2 aleve for all day relief. honey, you did it! baby laughs! it's in this spirit that ingu u.s. is becoming a new kind of company. ing u.s. is now voya. changing the way you think of retirement. maestro of project management. baron of the build-out. you need a permit... to be this awesome. and you...rent from national. because only national lets you choose any car in the aisle... and go. and only national is ranked highest in car rental customer satisfaction by j.d. power. (aaron) purrrfect. (vo) meee-ow, business pro. meee-ow. go national. go like a pro. >>> wall street's main regulator the