, about warren buffett.you actually mean it? do you think that you are the next warren buffett? would you go so far as to say this is my experience so far, i'm up over 400% over this short amount of time frame and i'm going to be better than warren buffett who has a 30-year plus track record of average returns of 20% >> yeah, no. i doubt i'll be even trading once corona is over. >> oh, really? >> yeah, because i've got to get back to nmy 9 to 5, which is a pretty busy job. on the warren buffett front, people are taking offense to that i don't know warren buffett and he's one of the great traders of all time but me saying i'm doing better than warren buffett right now, i am but he's 90 so i don't think it's that big of an insult to say someone was past their prime when he's 90 years old and i've said all along he's like the greatest investor of all time but right now in this market, i'm doing better >> all right we've got to let you go right now, dave. quickly, your highest conviction trade at this moment >>

window right because all fundamental analysis of what a security should be worth to school of warren buffett comes from like a dividend discount model or future value versus current value and it's all based around what the cost of money is and particularly the pen year treasury bond and you can do a regression model and figure out well this company like hertz might be worth x. and this company avis might be worth while in washington invest in experts is why but when the price of money is then all stocks become memes stocks are now means hertz is not a company it's not a stock it is a mean and it's has 0 value and is traded with money that also has 0 value expressed as 0 percent interest rate that's what that means it has no value and people on robin-hood who are accessing that app for free again no value no 0 cost just free so you can freely excess that app with your free money that was given away freely by the government as part of the pandemic relief program to trade shares in a worthless company called hertz i want to 100 percent. and this is what happens in an economy where the central b

jail again okas jail is now a property developments game by the likes of berkshire hathaway and warren buffett where it's not for some kind of rehabilitation or some kind of part of the judicial system it's a monopoly called the president duster complex where blacks are now working for $0.50 a day and in fact overturn the amendment that outlaw slavery it's alive and well in america's jails thank you black without play warren buffett jamie diamond again let's look at the big macro picture and how this happens and how it can tell in effect creates the inequality that jay powell at the top of the show we show that he says this doesn't happen so correlation doesn't necessarily equal cause ation but this is pretty strong indictment i think so here is a chart that went around this past week looking at the biggest theft in history growth in productivity and hourly compensation since 1988 you see compensation started stops growing in 1981 productivity continued to increase so that is a form of theft again 1971 if you weren't on the playing board if you weren't on the monopoly board in 1971 working to

could force the price if you could fix the price at whatever is not the highest profit margin warren buffett loves that zombie companies may soon represent 20 percent of u.s. firms this is a chart showing the percentage of u.s. zombie firms who are unable to meet their present interest payments from their actual earnings zombie companies destroy the economy in the long term so everything is about the short term right now as we you know because shorter and shorter term of the past 20 years and now we're at the point where the while everybody's already spent the next 30 years so that's why we're at this collision course between generations and the boomers and where it goes we don't know right well this statistic referring to zombie companies is very telling me now it's it's really the pictorial graphic representation of something we've been saying on this show i've been saying on the shelf for some time now is that money printing doesn't cause a rebound in inflation it in fact causes deflation and you have no statistic that proves that more than the rise of zombie companies right this is why m

i think they maybe one day at least for a bow you know half an hour they can go now and then warren buffett but in terms of manipulation you know we're in an additional world an algorithm driven world and algorithms don't have any mind of their own or do they or can they even be tried in court because the fact is you know back in 1902 when t.w.a. went declared bankruptcy we also saw the similar thing 1902 their stock price quadrupled in one week and the new york times wrote about this saying what's going on and they talked to lawyers who are specialized in bankruptcy and they they were confused because they said these people won't get any money like that goes to 0 once the court case call this is on the bankruptcy so what was going on was the shops the boiler rooms that are famous now from the wolf of wall street sort of films so you actually had to have somebody engage in a telephone call call somebody up and sell them on the idea that they're going to make these quick gains because carl icahn was involved in that t.w.a. story as well they sold them on the notion that carl icahn was going

could quickly turn a lot of these gains into big which i can also buy robin in a strange way warren buffett. poison and kind of got the anger up of the millennial after he blew out of his airline stocks and huge losses the robber to me as a buying it up and profiting and converting it into becoming so warren buffett has been funding their retirement their big coin retirement of robin hood millennial and gen z. users with his his his misinformed. airlines well ok on the one hand the problems that apple has have maybe been 100 percent or 200 percent for the day or 2 whether or not all of those streets evaporated instantly as obviously chesapeake collapsed the more in the overnight trading when robin hood apper is aren't trading it's only sophisticated guys able to access the the over the counter market in the off you know after market hours i think they maybe one day at least for a bow you know half an hour they can go now and then warren buffett but in terms of manipulation you know we're in an additional world an algorithm driven world and algorithms don't have any mind of their own or do t

frauds the loans that were made by the banks and who owns most of those properties people like warren buffett of berkshire hathaway so here he had a disenfranchisement of some of the biggest us and franchise one of the black community in america a sense light days and how they do it they use interest rate apartheid they use money printing money counterfeiting jay powell whoever was at the helm of the fed at that time could have been worn could have been whoever was i mean they were involved in this wholesale disenfranchisement of this group and this you can make a 50 examples of exactly the same game play from the same book again the game started the pyramid scheme started the ponzi scheme started in 1971 when nixon closed the goldman doe so it's what advantage how many hotels on the monopoly game board did you own when the game started and i saw a brilliant viral video where this woman was explaining like you know black americans had to work for 400 times around the board the monopoly board building houses and buying properties for the white people playing the game and then suddenly this who

sonali: another thing i love about this deal is that when warren buffett was involved in the bidding is a classic example of being outbid by a private equity firm. a problem berkshire hathaway has been having for a very long time. apollo and go with what does apollo give you now? a unique deal in that this is not a private buyout. they did not put seven tons of debt on you. what is the difference of being owned by a private equity firm in this environment for you? richard: first of all, both firms are immensely successful investors and they built great businesses so i am not going to get into the compare and contrast. i will emphasize that our excitement working alongside apollo for the next phase of tech data is really high. for sure in the environment we are in, we are able to accelerate our strategy and investment as opposed to being a public company. we are very excited that apollo is completely aligned with our strategy and all of the digital initiatives and projects that we have underway. berkshire hathaway is an outstanding firm as well and in the end, we felt as if apollo was

warren buffett told airlines a while ago. even sometimes they make mistakes.he airline stocks went through the roof today, and others did too. the whole market went through the roof. but they said 9 million, 9 million job losses, 9 million. are we going to break 20%? are we going to break it? and the numbers came in and one of the folks that was reading the numbers said, wow -- >> we are going to break away from president trump's statements there. it's 10:42 a.m. he's been talking for about 11 or so minutes. we're going to monitor that statement that he's making there. he's celebrating the jobs report number. he's going off on a bit of a tangent talking about all kinds of issues. he talked a lot about the jobs numbers. he talked about the coronavirus, the pandemic, talking about testing. we're going to dig into all of that. we're going to keep an eye on the press conference and see if he takes any questions. if we does, we'll bring that to you. he's just talking there so we're going to bring in our team of reporters to do fact-checking with the president, help

he's better than warren buffett.ething i don't know does he own a furniture company? burlington look, this stuff is -- it's a game if it weren't securities, let's say it was monopoly, let's say it was draftkings and i happen to like draftkings, it would be so much fun, wouldn't it pick a couple stocks, gun them in the morning. >> yep. >> hope people are stupid enough, they buy them and doesn't even matter, like american wasn't even down when they came out, which was far worse than what i was looking for. it's a different world now, andrew, and you and i are relics we did rule the world for a while. >> here is the thing, we always wanted to democratize the market, we always wanted more retail investors to want to get into the market and to be able to benefit from it and now we have people in it and i'm worried. i know i'm a professional for worrier but i'm worried. >> i think you should be worried for people who do think that there's something great going on in the airlines. how about carnival do you think there's any

if you could force the price if you could fix the price at whatever the highest profit margin warren buffett loves that zombie companies may soon represent 20 percent of u.s. firms this is a chart showing the percentage of u.s. zombie firms who are unable to meet their present interest payments from their actual earnings zombie companies destroy the economy in the long term so everything is about the short term right now as we you know because shorter and shorter term over the past 20 years and now we're at the point where the while everybody's already spent the night.

of americans and the poorest but they bought the bags off the likes of you know carl icahn and warren buffett these sort of people the billionaires right i mean the standout on that list of the hurts so hurts was heading into bankruptcy for a year now and just before they did declare bankruptcy the such a bank buys a bunch of her stock and you know to give some backup to carl icahn a private investor a private equity guy this reminds me of the e.c.b. funding for the leave a tall entrepreneur made a huge purchase recently and that was all funded by the european central bank of a private company so the private banks are buying junk corporations and they're actually buying an e.t.f. with the ticker symbol j and k. which stands for junk. that means that we've kind of crossed over to it and to no you know there's no turning back now because the said balance sheet of approximately 7 trillion dollars and it's adding maybe a trillion dollars every 7 to 10 days the resale value of everything on the books there is 0 i mean you can obviously resell hurt stock because it just went bankrupt a few days ago

could force the price if you could fix the price at whatever is not the highest profit margin warren buffett loves that zombie companies may soon represent 20 percent of u.s. firms this is a chart showing the percentage of u.s. zombie firms who are unable to meet their present interest payments from their actual earnings zombie companies destroy the economy in the long term so everything is about the short term right now as we you know becomes shorter and shorter term over the past 20 years and now we're at the point where the while everybody's already spent the next 30 years so that's why we're at this collision course between generations and the boomers and where it goes we don't know right well this statistic referring to zombie companies is very telling you know it's it's really the pictorial graphic representation of something we've been saying on this show or i've been saying on the shelf for some time now is that money printing doesn't cause a rebound in inflation it.

or warren buffett?killed him, he is dead. so what we have are people that believe the market just goes in one direction, and that is up, and that is very dangerous. that is perhaps why we have this argument going on about dumb money versus smart money. the thing with all bubbles is that they go up for a long time and people who are in it look like geniuses, until the bubble burst. then a lot of wealth is destroyed. so i always look at warren buffett, he is my hero. behas proven himself to worthy of being the greatest investor for decades. what is your cast position right now, and what are you you looking to buy? belita: we are very lucky. we have the privilege of being and therevest in data are companies that are excellent investments. then, in stark contrast to u.s., is undervalued, we think. whole,ot the market as a but a lot of companies are undervalued. governance reform, cash on andorate balance sheets, not much accountability to shareholders. they are assets now in this particular circumstance wit

right now, myself or warren buffett. there is no debate. it is no debate. i killed him. he is dead.: ok, another controversial time from david portnoy. has been happening in the sports world or the lack of it, he has turned his attention to the stock arc it and he think -- market and he thinks he is crushing it compared to warren buffett. it is indicative of a market that people are scratching their heads about, particularly the rally over the past few days that people believe has been driven by fast money accounts, fast money retail accounts, and whether that is durable. today, the lack of durability of whether that rally has been built on that. bringing up the comments from david horton oil -- david portnoy, we need to reference with this, but another controversial remark from the guy. it is worth talking about, so let's have that discussion about the stability of this market. joining us now is amy wu capital equities derivatives strategist. welcome to the show to talk about what is happening. a lot of people have concerns about the equity market rally over the last few weeks, tha

reporter: and the new traders, well they don't listen to long time gurus like warren buffett. l on airline stocks, these folks ponied up and bought them. charles. charles: all right. gerri. tell you what. they came back strong from their lows. so did the cruise lines. they're down big for the year. if you bought them at the low, you outperformed most professionals. great stuff, gerri. market son the quiet side. as we final trading hour, it will be really be the best quarter in decades. companies are looking to augment or expand their business as the world evolves spawned a new wave of acquisitions. we'll have look at mergers and investment opportunities for you to keep up with those mill lineals. we'll be right back - did you know that americans that bought gold in 2005 quadrupled their money by 2012? and even now, many experts predict the next gold rush is just beginning. so call us money reserve, the only precious metals organization led by a former director of the united states mint. as one of the largest us gold coin distributors in the country, us money reserve has proudly

wells fargo, warren buffett's wells fargo may be trimming its dividend say no to the banks. so what's worth buying you've got to be careful right now. you might want to way for a couple of days because maybe gamblers have a real bad mindset i know because i remember what it was like to be a novice investor and right now, there are millions of inexperienced shareholders who are going to be making the same basic mistakes i did when i got in this business. many of these people are so new, they've never lost large sums of money in the market, which means they won't dump everything after one bad day. we've got to go to the casino. they're like gamblers at a roulette table they've been playing black, and black has won every single time. maybe over the course of days. if you don't know statistics, you think it will just keep coming up black. because what happens when you spin the wheel it comes up black. today it came up red they'res go to dismiss that as an aberration. but black might not come up tomorrow and heaven forbid if double zero does when these novices start capitulating,

you see them there and after some big gains, one is claiming superiority over warren buffett.have that story next. ♪ you should be mad they gave this guy a promotion. you should be mad at forced camaraderie. and you should be mad at tech that makes things worse. but you're not mad, because you have e*trade, who's tech makes life easier by automatically adding technical patterns on charts and helping you understand what they mean. don't get mad. get e*trade's simplified technical analysis. >>> that was jim cramer talking about the trading frenzy created by robin hood. kate rooney has more. >> some retail traders are cashing in on this market rebound. many of the top stocks on robin hood have seen triple digit returns in the past month. some wall street veterans were left on the sidelines. robin hood ceo saying at a virtual conference last week they were seeing a lot of buying of industries hit by the pandemic including airlines, hotels, and casinos. a lot of the names have come roaring back, take a look. the top names on robin hood in the past month, children's media company ge

. >>> what do movie star arnold schwarzenegger, billionaire warren buffett and marvel super hero creator stan lee all have in common? they are all part of a new channel for toddlers and tweens just launched by genius brands. with its stock making an absolute moonshot, genius's ceo is here in a fox business exclusive on what some are calling the nickelodeon killer. >>> plus, ebay executives send a bloody pig mask to critics? making money on real estate investment stocks that don't get freezer burned from the retail ice age and charlie breaks it on stimulus 4.0. let's start "the claman countdown." liz: breaking news. it is the closest any company has ever gotten to a $2 trillion market cap and guess who's doing it. apple. apple has just vaulted over the $1.5 trillion market capitalization level. market cap is the total dollar market value of a company's outstanding shares of stock. apple at this very moment stands at $1.52 trillion. this even as european regulators investigate the tech giant over alleged anticompetitive behavior in its mobile payment division. you know that's called apple

warren buffett sold airlines. he has been right his whole life. sometimes, even people like warren buffett, they make mistakes. they should've kept the airline stocks. they have gone through the roof today. and, others did too . the home market. they said -- whole market. they said 9 million. are we going to break 20%? are we going to break it? then the numbers came in and one of the folks said, wow, this is a great number. it is only 3 million job losses. and then reading it, i am not reading this right, let me look at it again -- oh, wait a minute, 3 million gain. almost 3 million jobs gained. out, onethey shouted of them semi-shouted out, is this a typo? it was probably the greatest miscalculation in the history of business shows. business shows talking about wall street. and that is ok. one of the reasons we are in this position is because we have such a strong foundation. we were able to close our country, save millions of lives. and now the trajectory is great. do not forget, new york is barely included. that is one of our big ones. californ

warren buffett is one of the greatest american investors. he didn't invest in airlines in the last month. in the last month the ceo of boeing told savannah guthrie they're facing an apocalyptic reality. in may we saw an increase of 48% of businesses file for bankruptcy compared to before they were last year. yes, we're not in a complete decline. we're seeing a positive trend. to say wham, bam, ear back, that's salesmanship. what the president is a great salesman. >> stephanie ruhle in philadelphia, thank you. shannon pettypiece, we're going to continue to monitor the president's impromptu news conference in the rose garden. if he starts to take questions, we'll go back to it. less than an hour from now the president is going to leave the white house to head to maine. he's going to be visiting a company that makes cotton swabs used for coronavirus testing. nbc's josh letter man is in bangor maine where the president will land before eventually making his way about 45 miles north of where you are to guilford. the trip not happening without som

are you worried about that >> i'm sorry, warren buffett is an idiot i don't believe that >> i don't think many do my point is do you think there's any signs of froth in the market >> you know, short-term i don't know you're much closer to it than i am i just want to make the point that this pandemic contraction, which did in the early stages do great damage to the stock market, but this is different than historical cycles i mean, this is more in the nature of a hurricane or a bad snowstorm. now, i don't want to compare viruses to snowstorms, but the point is this. it was a natural disaster. and that natural disaster stopped, in this case, for three months it stopped the economy dead in its tracks, and of course it stopped the stock market, and of course it stopped falling employment we had a terrific economy last winter, as recently as january and february, 3.1%, according to the atlanta fed. froth, i have no idea. overbought, oversold, i have no idea but what i think is happening is the stock market is prestaging an upturn in the economy and that we have turned this corner. you got green

warren buffett has given away billions come i think hundreds of billions, or 90 billion or anyway, that's not -- with the coronavirus becoming, getting seemingly now the hospitals are near capacity and many southern states, many republican states, and it's becoming a crisis. and it occurred to me that our president is not really capable of doing the work as president. i think his brain is not wired for doing the work. his brain is more wired for making up falsehoods and to think he takes the easy way out. i think he's a master at pretending that he can do the work, but he can't do the work. i think it's a big stage act. i think it is a big tv reality show when we have -- tried what do you think the president's task force can do the work? do you trust dr. redfield, dr. fauci, the vice presidents worked on the task force? how do you think the president has handled the coronavirus pandemic when it comes to the people that he is appointed to these positions? >> caller: you know, i like dr. fauci but he doesn't speak simply and direct. he doesn't talk simply and directly to the american people

the warren buffetts of the world lost.s called them admittedly called them early and stomached a lot of short-term pain in the process. we're in the middle of that. he's sticking to his guns but increasing his confidence he feels we're close to the top of a bubble for a moment, even if he started positioning for it too early. >> he had some great one-liners, wilfred. i wasn't sure which one was better, the real mccoy bubble, the greatest in his career or the market has a lot of chutzpah doing this at a time of great uncertainty when it comes to the global economy i was wondering throughout this whether he's missed out on 40% or so rally off the bottom and how long he's been positioned in this bearish way right now. >> based on the last shareholder letter that went out from gmo, it suggested during the process of march and april they went from 55% equities, roughly down to 25% equities. exactly which stock that was and what prices that was at, we don't know yeah, clearly they have missed out on at least some, probably a lot

warren buffett sold airlines a little while ago. he has been right his whole life.ometimes even somebody like warren buffett -- i have a lot of respect for him -- they make mistakes. the airline stocks went through the roof today, and others did too. the hallmark it went through the roof. 9 million job losses. 9 million. are we going to break 20%? are we going to break it? the numbers came in and one of the folks that was reading the numbers said this is a great number. it is only 3 million job losses. and then reading it said, i am not reading this right. that may look at it again. wait a minute. this is 3 million gain, almost. 3 million jobs gained. and then they shouted out -- one of them shouted out, is this a typo? theink it was probably greatest miscalculation in the history of business shows. showsstory of business talking about wall street. that is ok. but one of the reasons we are in this position is because we had such a strong foundation, so we were able to close our country, save millions of lives, open, and now the trajectory is great. don't forget new

warren buffett got that great deal and the shareholders didn't and i've never liked that. t got a really good deal and that was the beginning of the end for oxy. chevron mike worth is the opposite, he's doing everything right and he cares tremendously about the dividend and chevron is a great company and i really think people should not sell chevron to go by oxy you don't low grade your portfolio at a time like this. >> is it your broader view, though, that -- i mean, when you look at what production is doing in the permian or the shale companies versus overall demand for oil and driving and, who knows, maybe aviation as well? >> aviation -- china has been a tremendous importer of oil of late china skewed the numbers i think the permian can start the spigot immediately i have been a big believer chevron is good, i like pioneer, parsley a lot, pe, diamond back which is the other faang is very good eo go. is a conservative company, i like those i don't like fossil fuels in general because i think that a lot of the younger portfolio managers who are eventually going to inherit

bill murdered by the state that just printed the counterfeit 6 trillion dollars to the ballot warren buffett to palau jamie diamond well the irony of this is disgusting you said it for you i really really even when i heard the story you. mediately was a good i mean. there's a movie oh boy you don't have to worry about counterfeits. problems and you're right actually you're the one that ended up killing you know over something as small as. saying that with all these cases will we see doing so people were. killed in their home while they're sleeping all of these things i think. and i'm not saying that because it's savior of ollie's it's out of the our what i am saying is well you only control your communities it's much harder for police to come in and say well the way so they are as you don't something's happened in the past but at this point i think the black community started to realize that and i think with the george you know he's the uprisings that have been beautiful to see because people are tired and i think it's a perfect storm this summer time people wrote unemployed college kids out