the old strategy, the warren buffett strategy they vote for so long may have worked better.hat does that bode for private asset returns moving forward? nir: private assets are interest -- interesting because the value seems to be that the valuations are quite high. we don't have much data on private equity, going back to the 1990's, but the valuation is as high as you've ever seen. you can understand why people don't like the returns they are seeing from traditional assets and they are piling into private equity. as those valuations go higher, what is that going to do to returns? there is another thing about private equity that unlike the traditional -- you are talking about a quarter of the sector, highly levered, and then combine that with high valuations and you have got a cocktail. romaine: i'm curious. talk a lot about valuations in the equity market and the public equity market. there has been a lot of talk there are bubble conditions in some corners of private equity right now. is there any way that investors can suss that out on their own given the information disadv

i thought it was a smart warren buffett kind of idea that many of the people wouldn't have thought of. [inaudible] incredibly talented musician who he represents jazz in america today. i'm sure of that. there's some line that you quoted from him in which he talked about louis armstrong and he says he was such a genius that he could lie about how great he was and still not be saying enough. i just thought that come what an inventive thing to say. >> interesting he points out an interview at one point was growing up he thought louis armstrong was more or less uncle tom sager but as he got to know louis armstrong he realized how talented he was and how smart he was angela came to admire him. the interesting thing about him is that he really thinks that jazz is about life. if you can understand jazz you can understand life and he's made his life to educate people about jazz so they can get the same pleasure he handed sam have gotten out of it. >> something else. of all of the people that you interviewed for this book, a number of them talk about passion, the concept of passion and how imp

the $5000000.00 used to buy back stock by warren buffett and others was money that was gifted to them from the central bank at 0 percent interest. and in some cases, a negative interest rate. there were paid to borrow money, as you saw in europe, with di elvia made buying tiffany for money that the european central bank gifted them on top of the 0 that they were charging for that money. so this dana, i'll say this again, i'm sorry, but this is the reality folks, this is financial apartheid. we've got to borrow money at $17.00 or 18 percent on our credit card. warren buffer borrowed money at 0. there's no difference between that and living and have been tuesday and being cut off. and i know that the results are poverty and death because the part, life expectancy is down, infant mortality is up, wealth income gap is increasing. thanks. j pal. atrocious. i want to come back much more coming your way. ah, with if you would expect to be of random, it could be a c. i'm sorry, this is a long explanation. b, you will have to see if you want me to go on a b, you can't impose the democratic sys

america would not be so deeply in debt if it could only fix, and i quote warren buffett, who is hardlyommunist, its ridiculously inequitable and inefficient tax system and get a grip on money laundering, a universal problem. as to xi jinping, have i not just said that in order to compete successfully with china america needs to put its money into research and development. in order to compete with china, not to help china. by the way, the development of a variety of renewable energy including, once again, nuclear energy developed in the united states with american technology, that contributes vastly to america's energy independence and, therefore, national security. those are not chinese lines. if you want to look at policies which might be developed in china, look at american policy in the middle east over the past 20 years. as far as i can see, the only country in the world that has benefited in terms of the damages done to the united states and the american economy, american debt, and american interests, the only country in the world that has benefited from american policy in the mid

, and essentially said if warren buffett is so concerned about not paying enough taxes, he could justheck to the treasury, but he never does. the words of matthew miller earlier this week. tom: it is a loaded question, and the answer, this is so important, and i am going to pick on canada here, they made a radical tax change in the government was voted out thunderously. all of the politicians have a new back of their mind, if they overreach on tax change, on tax policy, they lose their jobs. lisa: and we are seeing that with corporations. they are more willing to raise rates on individuals then corporations because somehow, that is less politically favorable, and that to me is pretty interesting. jonathan: i thing a lot of people surprised by that. equity futures up 18 on the s&p. we advanced 0.4%. record highs in this equity market. we keep on climbing going into year end. heard on radio, seen on tv, this is bloomberg. ♪ >> inflation is going to get worse before it gets better, but we are going to see the supply chain issues ease over the course of the year. >> everyone thought we we

and warren buffett.ut a select group of people, but they have massive amounts of wealth. if you tax their unrealized assets, you get a lot of money. that helps you get to that 1.75 to 1$1.9 trillion price tag. >> just very, very quickly. if we tax -- there's something like 700 billionaires. could that close the gap of paying for this? could they make up that amount of money we need? >> i'm no economist. i think you would get a lot closer in terms of funding solutions. the issue, again, is unrealized assets. what does that entail? who figures out what that specifically is? we're talking about private transactions from private individuals. it's one of those things that politically sounds good because people say, yeah, billionaires, people need to pay their fair share. a lot of these people, their income is extremely low year to year, they don't need to draw up salary. all of their assets are in stocks, those sorts of things. they don't pay a lot. so politically, it's a winner. the question is can you pract

even warren buffett adjusted his tune a little bit early. his investment managers did.ooking for good company's overall and trying to find some fair, reasonable value rather than looking for what we would normally consider cheap. >> earlier on this year, many people talk about value versus momentum. earlier on this year, we saw the momentum indices were littered or were full of value stocks. this idea that value is just, you know, these old companies that are a little bit too rigid, have high costs, arch nimble -- aren't nimble, aren't there as we look forward. there are always bad companies. we will not say there are not bad companies out there, zombie companies, to use that phrase, but you are right that the definition of value is changing and evolving. romaine: all right, jim, great to get your thoughts. partner at cio of multi-asset strategies and research affiliates. up next, jane fraser in her first year on the job, citigroup earnings are out tomorrow. we have a great story about how she is not only trying to reshape citigroup, but stick it to some of her competit

i mean, is kind of tied to what warren buffett said about the, the weapons of mass, financial destruction, better, you know, is the spaghetti tying all of this global i system together. and now we're seeing that because of cove it and the supply chain disruptions and the disruptions to the education system, not only for children and young people, but also for universities. and for, you know, this sort of schools and training programs that teach the plumbers the, you know, the people who maintain the electric grid or the people who maintain the supply grid, the 6th grade. those new people are coming a line because they haven't been trained for last year and a half going a, we're nearing 2 years now. you know, what are you going to do? some people say, let's go to india, right? well, india is massive fleet of coal plants are running dangerously low on stock piles, which may force the nation to buy expensive shipments of the fuel or else risk blackouts. they may have to buy expensive shipments of the fuel as we just covered, china is also out there trying to find expensive shipments and japa

we, you know, the richest man on the world was like, warren buffett, and he was worth like $40000000000.00. now it's jeff bezos and either mosque and bernard or no, and they're worth like $200000000000.00. so it would have to be at least $40000000.00. but you know, the have, i'm here reads to prevent potentially catastrophic debt default. and increasingly vocal chorus is saying that the treasury should issue a small platinum coin, give it a value of one trillion dollars and deposit it at the fed. so max, my trillion dollar coin, my children, bella aquinas special. so they go for a mere trillion. i'm going to call it a sex cillian toine. right? we're going to have full sex telling has trillion is very dr. evil, as we said, it's are not that much anymore because you see a trillion dollars only has 12 zeros. a sex dillion coin has 210 is on at fac, rescued the entire global financial system. wow. the we're, we're going are the way venezuela. they're lopping zeros off much their currency in america. they seem to be dedicated at adding zeros on. but i have a question for you. i would like to ge

we, you know, the richest man on the world was like, warren buffett, and he was worth like $40000000000.00. now it's jeff bezos and eva mosque and bernard are know, and they're worth like $200000000000.00. so it would have to be at least fortunately and but, you know, they have on here reads to prevent patel.

we, you know, the richest man on the world was like, warren buffett, and he was worth like $40000000000.00. now it's jeff bezos and either mosque and bernard or no, and they're worth like $200000000000.00. so it would have to be at least $40000000.00. but you know, the have on here reads to prevent potentially catastrophic debt default. and increasingly vocal chorus is saying that the treasury should issue a small platinum coin, give it a value of one trillion dollars and deposit it at the fed. so max, my trillion dollar coin, my trillion dollar aquinas special. so they go from your trillion, i'm going to call it a sex cillian toine. right? we're going to do a full sex telling his trillion is very dr. evil, as we said it's on not that much anymore. his. he see a trillion dollars only has 12 zeros. a sex 1000000000 coin has 210 is on, at fac, had rescued the entire global financial system. wow, you were going your, the way venezuela there lopping zeros off much their currency and america. they seem to be dedicated at adding zeros on, but i have a question for you. i would like to get your t

warren buffett talks about that price is what you pay. value is what you get. you can put a price and game stop. you can put a christ on bitcoin as long as somebody is willing to pay, that's the price and as long as the bids are there and you own whatever it is, you can get out by hitting that bid. but there's a big difference between what something is fundamentally worth and what's some idiot is willing to pay for it. but eventually, the supply of idiots runs out, and all these bubbles collapsed. you just never know how big they're going to get before they do. unfortunately, there's a lot of foolish people out there to be a fool, but eventually the last fool again is all in the back. it's going to happen with am . c is going to happen with game stop. it is going to happen. would not only bid coin, but all these crypto currencies. all right, have been sending this out for us. do you see this chain continuing as we move forward, or will it die out as wall street continues to win? well, if we're talking kind of crypto, your listeners have to understand that parti

>> if warren buffett were here he would want to invest immediately.tte wants to get insanely drunk but not super fat. >> kat: women can have it all. >> i just want to let you know you're going to be sweating by the time you finish. vodka pretty much. >> kat: but will i care? >> if you have enough alcohol everything feels better it. >> kat: that's going to be the name of my memoir. half your friends are gym friends and half our bar friends. this is the way to bring them together. >> a perfect idea. >> kat: new business idea. peloton but with alcohol. what do you think? >> fabulous. it will work. i was going to say we should get a drink. >> kat: watch me doing what? do you think this would be a good option for a pregnant woman? i do not. >> kat: why not? the alcohol probably. how far along? trying to get the baby out? go for it. >> kat: knoll. what's your official doctor's opinion of my fitness idea? >> i'm not a doctor. >> kat: what are you doing? i just paid you to say that your doctor. >> i am a nurse. >> kat: nobody asked you. the people have spoken

warren buffett, a guy who is always talking about tax me, that's fine. s in massachusetts pay a tax rate 36% more than jeff bezos and almost a trill dollars. why can't this get done? why can't this get done in the house? >> so you preach to the choir on this one. you know this is exactly what i want to get done. here's the thing, here in washington, the voices of the billionaires are a whole lot louder than the voices of anyone else. they have armies of lobbyists. they have armies of lawyers. they have armies of pr people who not only are swarming every office here in washington, but also trying to stir people up all across the country. they're telling lies about a lot of these programs, trying to get people to call their senators, call their representatives, because, let's face it, a bunch of them just don't want to have to pay more in taxes. you know, they've been running this scam on us for, what, 40 years now? oh, you're all going to be richer, if only the richest don't have to pay any taxes. i think we just finally reached a point where not only did

love that part of it is it you just giving us lessons like one of my favorites paraphrases what warren buffettil, how to be a c.e.o. let's talk a little bit about that. we live in a world where for a long time many black women were, you know, in many ways, restricted to certain roles. you can only do this or that. you can't be running things. slowly, we've seen those things change. it hasn't completely changed but we're seeing the changes that take place. you're one of the success stories. what have you render in a world that wasn't necessarily designed for you but is now in some way shape or form being shaped by you? >> oh, wow, to think i'm shaping anything feels -- i will happy take that compliment, thank you so much. i think all of the industries you're an author to are predominantly white. you get a pushback immediately then once you become more well known the doors open up more. the biggest thing i've taken away from this is don't let anyone's no stop you. i know it's hard to persevere at times because you're kind of like, i don't know. i'm trying, i'm not getting anywhere, but i feel li

politics are all over the place in republicans are going to be hesitate to throw a lifeline to warren buffett see you again back in the driver seat. i missed you i was out in l.a. santini last week. neil: i want to come back as you i want to come back as charlie gasparino. yankee very good to see you, breaking news left and right then again the world's best business, that's what you do i just have to make sure my tie is okay. we will have more after this. ♪ i promise our relationship are good time 'cause it's all right ♪ ♪ oh, it's all right ♪ >> so the vaccine in the future might be a combination of mrna for covid-19 and seasonal flu and whatever covid is attacking at that time. neil: the modernist ceo is talking about a one-stop shop for vaccines you will get the flu shot, your booster for covid, they're all moving in that direction, the university of hospital, the president and ceo of the former new jersey commissioner, great to have you, they could for taking the time. >> thank you so much for having. >> let's talk about what my moderna is telegraphing and others looking at this notion of

nobody pays less in taxes than warren buffett. >> and to that point, as katrina reminds us, we're nowhere near that kind of militance, if you want to call it that, we're just wondering if the remove the fox news sdpirlt all the other, or should you pay your tax religion recall. >> what these reports have shown, these folks aren't just higd out. they're just windowshoppers. that i recall. ly i have to mention this, ari, but mark zuckerberg may have lost something like $70 billion in net worth in the last couple hours. the guy is worth $200 billion. what he may or may not have lost today, he can pay for every person in here to go college. when we have people with that much wealth in this country and abroad, who are not paying remotely approximate. it's hard for us to listen to krysten sinema and joe manchin when you have folks to. >> jason, was window shopping a 50 cent reference? >> yes. yes, it was. >> i thought it might be. katrina, go ahead. >> jason said something important. it's about political power, too. it's who buys the political systems in this world. it's destabilizing the inequ

iothat people can accumu plateil oesf wealth and go years payveing ryit ltle to the government- -warren buffettnki talngbo aut this for s.year the searcrety yspa a higher incomeax t then heoe ds because his weals th iacmuculating in capi gtalai.ns oeit ds israe queiostns. ithats meso of the reaseon w saw tsdoub ergmee today on cluding this as part of the debin agenda. neil: -- iawillm: howou wld you aboutin taxgha tt if the persons inot selling those assets and you can fe igurout how much they gained, how much they lost? :neil at ttha tier of wh,ealt they ha ave lot of wh,ealt st tockshecay n sell easily. u yowould phase it in and not tmakehesom all t sheirtock nioverght. itld wou ba e thingt tha iobillnaesir have lots of cacipaty to deal with. ownot ne orsf smaller businesses atth would face real str.ains thsat i why some in the senate werepe ono tthis. eyth don't want trao ise tax teras on teahe wlt, hythe pilta gainsax t, w butere wig llintont eertain this. william:ut pting that tsiax ade, awhatreth oer wayshe t crdemoat asre looking tiso rae revefonue r isth big bill? ne:il tnehe o that peo

. ♪ liz: well, charlie munger and warren buffett hay call it rat poison, but one star investors is makingthe etf called ark 21 shares bitcoin futures strategy, because that's so catchy. [laughter] not directly investing in bitcoin or other digital assets as u.s. regulators have not allowed that to happen yet, but here's where cryptos stand. bitcoin jumping about $348, we're now at 57,761. ethereum and litecoin also having pretty solid days. not a bad move for litecoin, up 2. but look at coinbase, jumping more than 5% right now intraday, we're just off the highs of the session after the digital currency exchange figuredded, you know what? we're going to design our own regulator. yes, they laid out a blueprint for a special crypto regulator, getting a little pushy with the official regulators, the securities and exchange commission, who oppose the idea. will the sec push back? charlie gasparino's been way out in front of this story, new details. >> yeah, i don't -- congress. this will be up to congress theoretically, right? congress could pass the law that would create a new regulatory agen

so this is warren buffett's mentality and it's my mentality on the core position, as well, which is to say you are owning an ever-increasing concentrated share of earnings that will continue to grow, that continue to buy back thoseshares. you're a bigger owner just with what you hold and that's more important than who has a trading position and who doesn't >> the street is out overwhelmingly backing the stock up, pete your favorite analyst reiterates overweight though she did cut the price target from 164 to 166, j.p. morgan reiterates and overweight piper sandler, 180, 175 respectively on the price target ubs, 175 is the price target there. is there anything to be concerned about for the longer term out of this quarter, pete, or is that just trying to find something out of nothing >> yeah. i think that's probably more likely, but i think that the reality is we do know that the supply chain is a bit of an issue and regardless of that, you take a look at what they actually put up, scott, and you hit on it and the reality is when you put up a record quarter for revenue and you are dealin

warren buffett, jeff bezos, bill gates all facing the so-called billionaires tax, oh, yes george soros as well, elon musk, so we went out and got our own billionaire to find out what he thinks. real estate entrepreneur jeff green, number 209 on the forbes 400 billionaire's list joins us next in a fox business exclusive what does he think? his answer surprised me. i thought he would go the other way, you've gotta hear what he said. closing bell 48 minutes away dow is up 65 points as i said, any gain at all, even just a fraction of a point, means the new all-time record close if we stay here the "clayman countdown" is coming right back. certified turbocharger, suspension and fuel injection. translation: certified goosebumps. certified from headlamp to tailpipe. that's certified head turns. and it's all backed by our unlimited mileage warranty. that means unlimited peace of mind. mercedes-benz certified pre-owned. translation: the mercedes of your dreams is closer than you think. liz: so, as congress inches closer to this agreement that billionaires should shoulder more to pay for the inf

then you have the rails and the locomotives owned by warren buffett.meeting the challenge of covid. as i was asking, why isn't the secretary of transportation at the port to get this figured out? we have to stop acting like victims. this is a country, the united states of america, in world war ii, we knew how to fix damn problems like this. we've got to fix these problems and stop talking about them. and a solution is to bring in the seventh transportation brigade with three battalions of drivers and clear the ports, take it to military installations, work out some solution. the normal will not work. >> you invoked the name of the secretary of the department of transportation. i reached out to the d.o.t. this morning and they directed me to an interview that secretary puge gave to "morning joe" last week. take a look at this. >> this is a major challenge. and this is something that's been a major priority for the white house, certainly for our department. it's why the white house set up this task force. and what we're looking at is basically everything

. >> that is warren buffett, one of the richest man on earth.re ceo of the berkshire hathaway, talking about his right-hand man there on stage with him. his name is charles munger. is munger a 97 year old billionaire who is vice chairman of berkshire hathaway. he is a quote, amateur arctic attack. he likes to design buildings in a spare time. munger donated $200 million to the university of california, santa barbara, to fund a new dormitory. that's the kind of things that rich people do all the time. but here's the catch. instead of just naming the building after himself, which is what most rich people want, when they make that type of donation -- no, no, no. had munger another stipulation. he had to be allowed to disdain it, completely. he is the guy who wanted to design the dorm. he made some pretty interesting decisions. the building is meant to house 4500 students. that's a pretty large building. and take a look at the lay out on the inside. he crammed full of these little suites, as they are called. let's be clear. storms can often be almos

thank you, sir >>> who's richer than bill gates and warren buffett combined?stopping cnbc's "on the money. elon musk's network is now $230 billion. that's as much as the microsoft founder and oracle of omaha's money put together that stat from the billionaire's from bloomberg index buffett's number 10 with $102 billion. the disney ceo is asking his deputies to explore potentially spinning off espn. that's according to reporter dylan byers. the reason -- linear television is shrinking, not growing. the report say analysts see the world where the worldwide leader as a separate business could be better for everyone. >>> and nokia, bringing back one of its classic phones fondly remembered as a brick. it will mark the phone's 20th anniversary. nokia said the updated phone will look similar and include the '90s classic game snake. it will also have that same amazing battery. nokia said it will last weeks between charge, just like the original. >>> on wall street, it's all green. the dow up 382 s&p up 33. nasdaq up 74 i'm shepard smith on cnbc. it's the bottom of the

well then all sorts of other potential investors might say if warren buffett backs it, so will i.urne built a major media business, and it looks like she backed him. he knows all sort of people. the fact they have that call with goldman sachs and make a youtube executive, you have investors who might say i'm a traditional investor, i don't know about the kids and the youtube, but if he's getting th investment. now he's been exposed. >> this announcement this morning they are going to continue operations, is he going to be able to raise money now? >> craig, you said to him who is backing you? who is on the board? he said i'm on the board, yes, of course you're on the board. we see you sitting here, carlos. the fact he's unwilling to expose that, how do you run a media or news organization? everything is about transparency. you have to know where you're getting something from. if you don't know who is backing him, why would you trust that content? >> steefny ruhle, thank you for your analysis. if you start a company, i would back you. >> there you go. i'm going to say craig melvin,

. >> that is warren buffett, one of the richest men on earth, the billionaire talking about his right-handonaire vice chairman of birk share hathaway. he likes to design buildings in his spare time. he donated $200 billion to university of. instead of naming the building after himself, munger had another stip lalgs. he had to be allowed to design it completely. he is the guy who wanted to design the dorm. he made some pretty interesting decisions. the building is meant to house 4,500 students. that's a pretty large building. and take a look at the layout on the inside. crammed full of these little suites, as they are called. now, let's be clear. dorms can often be almost prison-like in design. they are packing a lot of people in a small area. you know, that's kinda what they are. this is a real dystopian science fiction novel feel. tiny pod bedrooms with a bed, a little desk and a fake window. that's not a real window. there is light beamed through there. in fact, 94% of the rooms will not have functioning windows and the unpleasant accommodations seem to be part design. this is his idea.

trader, trader, are you asking me, scott or as an investor >> as an investor, david >> i'll use a warren buffette it's a great asset for the long term, so -- but, look, i don't think there are any great asset classes now and people on the show talk about the risk of inflation and the question is what the fed's doing, i guess and they said he's going to taper today and people wouldn't expect it. and will they raise interest rates and really, what is underlined inflation and it's endemic inside the economy and that's really what we're doing right now. so if you go down different asset classes, stocks -- i don't want love stocks i don't like bonds i don't like junk bond, you know, it's a question of what's the best-looking investment versus other investments when nothing looks that great >> are you raising your cash as a result of that have you taken your exposure to stocks down as a result of that view >> yeah. we've been -- we've been probably too conservative this year we've done okay because of where we were in the market. we were in commodities and oil, but and we continue to keep that exposur

but look, if you take a look at the tax burdens of some of the wealthiest americans, and warren buffett and others have said this themselves, often their tax rates are lower than those of their secretaries. and that's because a large share of their income takes the form of capital gains. capital gains are taxed at a lower rate than most ordinary income tax rates. and in addition, there is a complete loophole called step up of basis, which means if you hold an asset to death, no matter how much it's increased in value, your heirs that inherit that asset get to take the value of it as of the day of death. and that means no taxes are ever paid on those capital gains. and i think that's an aspect of unfairness that leads to very low tax rates. that's part of what we want to change. we've proposed speeding up return of the highest individual tax rate back to 39.7%, which is where it was before the trump tax cuts. but president biden has pledged that no one making under $400,000 a year will see their taxes rise by a penny. and i support that and our proposals are consistent with it. you know,

america would not be so deeply in debt if it could only fix -- and i quoted warren buffett horks is hardlynist, if it could only fix its inefficient tax system and get a grip on money laundering as well, which is a universal problem. as to xi jinping, have i not just said that in order to compete successfully with china, america needs to put money into research and development in order to compete with china, not to help china. by the way, the development of a variety of renewable energy, including -- once again including nuclear energy, developed in the united states with american technology, that contributes vastly to america's energy independence and therefore national security. those are not chinese lines. if you want to look at some policies which might have been developed in china, i suggest you look at american policy in the middle east over the past 20 years. as far as i can see, the only country in the world that has benefited in terms of the damage it's done to the united states and the american economy, american dit and american -- debt and american interest, the only country in