warren buffett is right about that. tell me a family that's happier because they are wealthy. and decided not to work and is actually a better, happier adult as a result of it. i've not really seen that. i think it's probably dutch look, if you are a billionaire in this position it is a good problem to have. but i don't envy them in that sense. >> kennedy, will you be giving our vast billions to your children? >> i'm excited about that, once i get vast billions i'm just going to enjoy it for a while, then i will probably think about it. all probably think now, i'm keeping my vast billions instead of giving my vast billions -- then at the last minute i'm going to cave and buy them each a golden rocket ship. and hopefully from your lips to god's ears that happens. i do like the fact that there is more investment in private charity. i think that's a much better direction for human beings to go and then a concentration of wealth and centralized government. i don't have a problem with that. with bill and melinda gates and their divorce, i bet bill gates was the one that's like the

now, warren buffett may regret one thing he did last year. he exited airline stocks.ndemic. he just couldn't see that far out, he said, as to when people could feel comfortable traveling well as the u.s. gears up for a big travel boom, airlines are doing well, and wells fargo is making a bet that one hotel chain is going to win big with the reopening of u.s. borders which happened today. wells raising marriott international's price target to $180 per share it's at 168 right now. wells fargo says it'll benefit from higher travel demand. check this out expedia shares rising more than 287% since the pandemic began in march of 2020 so expedia has done incredibly well. hotels, airlines, booking site, all awaiting an influx of international travelers as the u.s. today rolls out the welcome matt for those who are fully vaccinated. let's go to one of those welcome mats grady trimble is live at the security checkpoint at the international terminal of o'hare airport in chicago to tell us what travelers can expect. grady? reporter: hey, liz. so far today, for the coming week in

man who played d-1 sports, sponsored by vidal sasoon back in the day >> i am such a huge fan of warren buffett want to be in what you know. if you know apple and bank of america and you know these various different names that are the biggest components of what are in there, that's where warren buffett is strong >> that might need more than three tacos in a deal, but well diversified company. thank you all very much for playing. coming up, we are counting down to nvidia earnings this is elodia. she's a recording artist. 1 of 10 million people that comcast has connected to affordable internet in the last 10 years. and this is emmanuel, a future recording artist, and one of the millions of students we're connecting throughout the next 10. through projectup, comcast is committing $1 billion so millions more students, past... and present, can continue to get the tools they need to build a future of unlimited possibilities. >>> welcome back we are keeping an eye on nvidia. >> the options market is implying a move of about $17.50 higher or lower, about 5.8% of the stock price. that's more than it has

it shows things are probably a little too expensive for warren buffett now.we have had a number of extreme weather events in the u.s.. berkshire has a collection of insurers area having an impact that those have on their bottom line? whether there any other negatives we should watch out for? sally: insurance businesses posted and underwriting loss generally thanks to those extreme weather events. but, again, i think the energy business and his railroad helped offset that a little. i think in terms of a negative or overall learning, which really mirror berkshire's equity investments, they were down by more than 60% year-over-year. but, buffett always kind of emphasizes that investors should not focus too much on quarterly changes in investment gains or losses. so, i think, really, it is about supply chain going forward and how those will impact and whether those will filter through into some of his manufacturing businesses. and, if is borrowed business that has done so well can continue to thrive despite. sally bakewell from bloomberg americas finance team. yo

warren buffett bought more stock. shareholder i know you treat all shareholders the same. do you like to have any back and forth with mr. buffett >> berkshire hathaway is a very large and greatly valued shareholder. i've been out on the road the last week talking to shareholders across the country. i think they like what we're doing and they have an optimistic view about the future. >> do you think there were shareholders who were not shareholders were bumping it up. >> they may add to their positions and new shareholders want to see financial performance and they want to see responsible stewardship of our business against the society's expectations today we invite new shareholders to come in and we want to increase our positions. >> are you surprised some u.s. producers are still being disciplined? we know if we pumped everything into this country, oil prices come down. >> i think most producers in this country have committed to shareholders they're going to return capital and be responsible as opposed to chase growt

. >>> still in effect for the show cnbc goes whale watching find out what warren buffett, david tepper the last three months >> announcer: today's big number, $13,295. that's how much it cost to ship a container from china to the west coast last week according to the freight baltic index, down from the prior week but still nearly triple the cost from a year ago. [suitcase closing] [gusts of wind] [ding] movers and today we are focussing on the quarterly 13f filings by some of the world's biggest and most well known investors. let's start with warren buffett, the firm shedding its stake in merck in the third quarter and reduced its holdings in other drug makers as well. berkshire having new positions in royalty pharma and floor and day core ap loo a sold its stake in netflix last quarter and cutting its stake in amazon and micron some of those stocks a little active in the premarket trade as well at the same time making a big bet on retail, increasing its stake in macy's by more than 90%. and finally michael bury of the big short faang exited bearish bets on tesla, ark he told cnbc last

marketing company braze, while alibaba and none other than warren buffett is crashing seema modi is herere seema? >> well, john, this is india's largest ipo falling 27% on its trade in the mumbai exchange selling include pre-ipo investors, and warren buffett's berkshire hathaway, softbank according to a recent filing they sold about 10% of their positions. it's been losing money over the last three years that's raising questions around the valuation of 30 times sales compared to other fin tech companies and paypal and square and it's playing in a highly competitive market, and that's referenced by ceo doug mcmillin earlier this week on cnbc it is one of many going public in india as investors pivot away from china and soon, u.s. investors will have more exposure to these names as we get incorporated into etfs and they'll be debuting a new u.s.-listed india etf next year and the online delivery firm will list on msci. get ready. a number of more indian companies coming to market thanks, seema modi interesting day. the hill now reporting that senator manchin is looking favorably at powell

purchased by billionaire warren buffett who moved the company to bay area. jonathan bloom got inside look how see's candies creates your favorite treats, nbcbayarea.com, search candy from the heart but i need the candy in person, not virtually, you know? [ cheers and applause ♪ >> steve: from studio 6b in rockefeller center in the heart of new york city, it's "the tonight show starring jimmy fallon."

purchased by billionaire warren buffett who moved the company to bay area.onathan bloom got inside look how see's candies creates your favorite treats, nbcbayarea.com, search >>> breaking news tonight, former trump aid steve bannon indicted for contempt of congress. the unprecedented grand jury indictment against bannon for defying a subpoena from the house committee investigating a january 6th riot it comes hours after mark meadows, another trump aid also refused to comply. are more indictments coming >>> also breaking the long-awaited court victory for britney spears in the battle to end her nearly 14-year conservatorship. the celebration outside the courthouse >>> consumer prices soaring. president biden's first cabinet meeting in months. what he said about surging inflation. and the new report out. why are americans quitting their jobs in record numbers >>> the booster battle the states defying cdc guidance and expanding access to all adults could it happen nationwide the white house weighs in tonight. >>> the city of kenosha bracing for the kyle rittenh

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value investors like warren buffett are having a tough time finding stocks at a fair price.l nygren tells us what he buying after the break. ♪ hi susan! honey? yeah? i respect that. but that cough looks pretty bad... try this robitussin honey. the real honey you love... plus the powerful cough relief you need. mind if i root through your trash? now get powerful relief with robitussin elderberry. jack: welcome back, number two on hot market buyers guide, stocks, interest-rate, height and valuation is leery of getting into the market. my next guest says you can find businesses who stocks will do well to the cycles. chief investment and renowned bill nygren drives me now. thank you for coming and. jack: by one measure the market is in territory that you've only seen once in your career the schiller price ratio isn't nearly 40, the only time it's been this high was in.com bubble. i realize how do you think about owning equities, what did you take away from 1999 in 2000 that you're putting into play right now. >> one of the most important lessons from 1999 in 2000 is when some of

value investors like warren buffett are having a tough time finding stocks at a fair price. ♪ (man) stillp. (woman vo) so, where to next? (vo) reflect on the past, celebrate the future. season's greetings from audi. - modern life, different schedules, different meals, different times. how do you keep everyone happy? with five cooking options the cuisinart griddler is the ultimate in versatility. it has a full griddle, a full grill a half grill, half griddle, a contact grill and a panini press. redesigned with a sleek look, the griddler has a sear function, digital adjustable temperature control, a count up and down timer for precise cooking times and non-stick removable and reversible dishwasher safe plates for easy cleanup. the cuisinart griddler, it's a real crowd-pleaser. jack: welcome back, number two on hot market buyers guide, stocks, interest-rate, height and valuation is leery of getting into the market. my next guest says you can find businesses who stocks will do well to the cycles. chief investment and renowned bill nygren drives me now. thank you for coming and. jack: by one m

he's made more in the past 9 months than warren buffett has made his entire invest in life. oh, so he's worth close to $300000000000.00. he might be worth it, trillion or but we all might be charlene, are soon like. it's happens in other countries, zimbabwe being one of them and we're going to turn to something from 2015 by then. but what do you think of elan must becoming a trillion aromatic re lot of people in zimbabwe or chilly nurse, they have the actual trillion dollar backbone. so almost everyone in some bob way as a trainer, a saw an issue with fail on moscow corporate governance. you know, as, as people know, as the stock price goes up, his options kicked in and he ends up getting more of a percentage of the, of the company. um and therefore has absolute control over the company. and um, in a way, in, in an era when a lot of regulators are also stakeholders, shareholders in these companies. so there's, there's a corporate governance issue as well. but yeah, he saw he selling towards filling air status and go buy it in fear money. firms just so you see how a person co

particular money via money is controlled by a few people whom and this is a direct quote from warren buffett. he said, yes, we print our own money and quote, right? and to me it's seems like an attempt to continue the status quo because they keep the money system in place. they keep the intellectual property, regimes, and place. they keep the flow of capital in place. and who is the boss most importantly, in place. so when you look at this situation with a democratic republic of congo, from which most of the worlds cobalt comes to me, it strikes me as a new form of imperialism. whereby we used to have the east india company, or as it was known in the 1600 as the honorable east india company. we know for a fact it was just a tool of imperialism. it stole resources and it, you killed lots of people in the name of their maintaining their monopoly. well, the same thing here is that environmentally friendly sort of thing. it's think about this with a resource curse. the con, the d r c. now has and that is that it, okay, they have all this cobalt but who owns the intellectual property to all the b

you have companies like build could make your dreams, funded by warren buffett. gm here stop they are here developing manufacturing electric vehicles like nowhere else and the world. the projection for sales is huge. you touched on the numbers earlier. at the moment, as a proportion of overall castles, about 25 million a year, distilled single digits and that shows you how much growth potential this market has. china's ambitions are just about seeing those cars on the streets in places like shanghai, it is about the whole supply chain, the stuff that goes into the batteries, the batteries themselves, and then building. so it is a really ambitious and strategic plan. thank you very much, robin brant ns shanghai. talking about strategic and ambitious plans within the transport sector, let's look at the uk whether government has confirmed all new hgvs will be zero emissions by 2040. downing street believes the uk will be the first country to commit to phasing out diesel hgvs. in 2019, lorries and trucks were responsible for 56% of uk transport emissions according to

if warren buffett would come and teach. those would be in my top five.we will try to get that message to them. great to have you back here on my show. thank you for stopping by. coming up, alibaba shopping extravaganza. we are looking at what is different this year and how the competition stacks up. that is next. this is bloomberg. ♪ >> alibaba singles' day is the world's biggest shopping spree. equipping other events like cyber monday and black friday. one of the biggest drivers has been influencers who can move billions of dollars worth of goods in a single broadcast. here is look at the future, livestream. -- e-comm livestream. >> meet these popular influencers. these two have such big followings that one sold 15,000 units of stick in one sitting. they racked up sales of $8.2 million. she pulled in a record high audience of 37 million people. that is more than the game of thrones finale or the oscars. across mainland china, online streams rate and revenue of an hundred $49 billion. that represented about 10% of china's annual online retail sales of ju

your last caller mentioned warren buffett.ns a company called mid american energy here in western iowa. they bought 1,000 acres of prime iowa farm ground and are building a 1,000 acre solar farm that is supposed to supply 30,000 homes with electricity, which has been reduced down to 17,000, and they are going to transmit that electricity to chicago. that 1,000 acres had 360 acres of ground on it that i used to hunt fessants on. fezzants on. my question to you sir is when people call in and say, like joe biden does, pay your fair share, what about the 40% of people in this country who pay no income taxes? what about their fair share? hang up and i'll listen, thank you. host: john in iowa. another john in arkansas, mountain home, arkansas, natural state, good morning. caller: good morning. host: go ahead, sir. caller: the nature of my call is the need for what i consider a nationaller police force of some sort, whether it be volunteers or separate government entity that does nothing but meet these people at the border as they ar

lisa: it was warren buffett who said that when the tide rose out -- rolls out only then do you discover who has been swimming naked. is the tide rolling out now? chris: we know that they come in and out, but we do not have a good schedule for that. i think we are closer to the tide going out. rivian has an 85 million dollar market cap so this is not changing yet. lisa: at what point do we see some real disruptions where we see the most vulnerable players shaken out? chris: i think we are already starting to see that, the slow inability to pass along costs will cause financial pressure and pressure on debt service for a lot of companies that have leverage. and the debt markets as they tighten up they might not be there for those companies. this is a process that probably plays out over time. jonathon: could you weigh in on that, that we have an $86 billion market cap on an automaker that only started delivering the vehicles a couple of months ago? how do you respond to that? chris: someone like me who owns gm, with a similar market cap and a larger market share, it is puzzling. without a

warren buffett would come teach, those would be my top -- in my top five.we will try to get the message to them. great to have you back here on the show. thank you for stopping by. coming up, alibaba shopping extravaganza. a single day posting record in sales. how the competition stacks up. this is bloomberg. ♪ emily: alibaba singles' day is the world's best shopping day. one of the biggest recent drivers of the growth has been livestreaming influencers. they can move billions of dollars worth of goods in a single broadcast. >> meet china's most popular retail influencers. these two have such big followings that one once sold 15,000 units of lipstick in five minutes. together, they racked up sales last year of $8.2 billion. that has made her a multimillionaire at age 36. she has a viewing of more than the game of thrones finale. that represented 10% of china's annual online retail sales of just under 10 trillion you want in 2020. astronomical growth for an industry that alibaba pioneered as a marketing tool five years ago. a survey last year found that almo

warren buffett extends a selling streak.hire hathaway was a net seller of equities for the fourth straight quarter, selling almost $2 billion worth of stocks. history indicates buffett has struggled to find bargains with the stock market hitting all-time highs. an airport has agreed to be bought by a consortium of funds, just as australia reopens to travel. it has accepted an offer from a group of investors. the company had rejected two previous lower bids. employees at three starbucks coffee shops in new york get a decision on whether they can unionize. if so, they would be the first story ever to recognize unions. a vote in favor would be a victory for the company's labor movement. let's get a quick check on what is happening in the markets and what is coming up as we open the doors to international travelers to come to the u.s. that is helping the markets today. we have optimism surrounding the pfizer virus treatment, u.s. travel restrictions easing, and we have the signal that the federal reserve is not willing to rush i

charles: that sounds like a sideways diss at warren buffett, but we won't go there.een on your honeymoon, rob, but what are you liking for the rest of the year? >> you've got to stick with the winner here, charles. the semiconductors, we used to look at those as a trend play. i think you need to be this semiconductors long term. the internet of things, you're going to need a company like nvidia, but looked at this metaverse, charles. people are getting on this, wall street's behind it, look at facebook, look at roblox, look at disney coming out with nfts next week. it's a great opportunity for anybody getting into this sector right now. charles: disney reports next week, they've been under some pressure here. of course, they've got to kind of figure this out. the covid thing is starting to fade away. they might be in a pretty good sweet spot for a buy on a quasi-dip. rob, ken, thank you both very much is. really appreciate your expertise and that energy because it's important. folks, you know what, listen, no one knows where the market's going, but when you do the wo

manus: your member when people lambasted warren buffett for buying the railroads in a year -- in americaay ahead. they spend more on buybacks and apple shares since 2018, $20 billion repurchasing their own stock in the middle of 2018. there is the performance of berkshire hathaway. first of all, you need a 41,002 by one a-share. go on? dani: that is a lot of numbers. i don't know. manus: it's a lot of numbers. then you have concentration risk, what if you bought one share? you have that money all in. i could think of worse people to be fully loaded on. on a slightly more serious note, it is a cash pile, that brings in the bigger question, how richly value our -- valued our u.s. equity markets? bank of america, dark side of the moon. u.s. equities outperformed every other part of the world, the best year since 1997. it is a victorious lap for u.s. equities. dani: it is, and if you just say equities will go up and i will keep buying, you have done extremely well. you are in a place where it is difficult to bet against equities, even as we has gyrations in the bond market. this is the fomo

purchased by billionaire warren buffett who moved the company to bay area. jonathan bloom got inside look how see's candies creates your favorite treats, nbcbayarea.com, search candy from the heart but i need the candy in person, not virtually, you know? [ cheers and applause ♪ >> steve: from studio 6b in rockefeller center in the heart of new york city, it's "the tonight show starring jimmy fallon." tonight, join jimmy and his guests - taraji p. henson steve zahn musical guest damon albarn d featuring the legendary roots crew >> questlove: 1550 woo! >> steve: and now, here he is, jimmy fallon [ cheers and applause ♪ ♪ [ cheers and applause >> jimmy: thank you, roots happy friday that's a great crowd right there. relax, enjoy yourself. welcome, everybody welcome, welcome, welcome to "the tonight show" [ cheers and applause you're here, you're watching thank you. well, guys, everybody is talking about this today taylor swift released her rerecorded album "red (taylor's version)." [ cheers and applause great. that's right, taylor has done the impossible she's

. >> i don't think warren buffett cares too much if he has to pay $5 or $6 for a gallon of gas but if20 bucks a week. it's a big bite out of your income. >> shannon: it is. polling continues to show people are aware of that. steve moore, have a great weekend. exercise bike company peloton hitting a rut. night court is next. you are the jury. (naj) at fisher investments, our clients know we have their backs. (other money manager) how do your clients know that? (naj) because as a fiduciary, it's our responsibility to always put clients first. (other money manager) so you do it because you have to? (naj) no, we do it because it's the right thing to do. we help clients enjoy a comfortable retirement. (other money manager) sounds like a big responsibility. (naj) one that we don't take lightly. it's why our fees are structured so we do better when our clients do better. fisher investments is clearly different. go with simparica trio it's triple protection made simple! simparica trio is the first and only monthly chewable that covers heartworm disease, ticks and fleas, round and hookworms. d

one, musk does not donate a lot of money to charity, certainly not like bezos or zuckerberg or warren buffett famine is one part lack of food and two part political, where somebody is blocking the supply. uber deliveries will now deliver diapers. uber is not ready for that, delivering babies. >> i will take one. >>> a malibu mansion selling for $177 million. yeah, this is making it the most expensive home sale in california's state history. it was purchased by a billionaire, a silicon valley venture capitalist, mark atkrae sun. so the estate sits on seven acres and has its own movie theater and two guest homes. wow. >>> an act of kindness on halloween translating to more treats for children going door to door. a mountain view woman left a bowl of candy outside her door, and the candy was gone by the time a group of girls arrived. first, they took a few pieces, but then look what they do, they add candy to the bowl for the next set of trick-or-treaters. isn't that nice? that is kindness. >> i thought that the story would go another way, but, no, that's beautiful. >> i put a bowl out and we sti

the last, warren buffett, as has made of it as his entire investing life investing, life investing life, invest us. so he's worth close. he's up to 300000000, but he might be worth it. charlie, enter with it. charlie, enter it with it. but we all might be charging our soon shot like shot like shot like traffic happens and happens and happen. other contact is csm happened by the map and both zoom out that way, being one half away, being one half of them math and them and math. and we're going to turn to happen thing for to happen thing for to happen 2015 by then. but what do you think of even must becoming a truck because they become an arrow? because because because because right? a lot of people regular bar, railway arch readily nurse, readily nurse. right? they have the x ray, little trillion back bridle back now. all right, so that re sac bridle almost every one was in some bio, was way as a trainer, a saw, saw in issue in, in moscow, corporate governance, warburg, corporate, uh, corporate go as corporate as be corporate, all know, the as the stock price, gusto sauce got his options

now, just in the last annual meeting, warren buffett spoke about this technology, and what he said wasd i quote, geico entirely missed the bus. they absolutely failed to see and adopt these kind of technologies and it's not because incombnlts are unaware of these capabilities. of course, they know and follow these things closely, but this is actually not good news for them if you have a huge book of business, 10s of billions of dollars invested in pricing people to some kind of average, then this technology is destructive, disruptive to you because what it suddenly shows is about two thirds of your customers are paying too much, and the last thing you want to do if you're warren buffett is give a 30%, 40% discount to two thirds of your customer base then the other third are being subsidized by them, they're paying too little and you need to raise rates for them, and then you get churn and lose the business there as well it's a damned if you do, damned if you don't value proposition for incumbents, but for us without that legacy, this is truly transformative, allows us to price in an ac

they were adding to it last quarter and all of the hot hedge funds and venture capitalists and warren buffett got a piece. it's a symbolic stock and people look to it as a proxy for the growth on trade and it happens to be working really, really well right now from so-called new tech to so-called old tech, qualcomm hit a new record high today as it meets investors our own jim lebenthal joins us i had to have you on because the stock has been great all-time highs and it's up 30% this month and you've got some fan talk on twitter. somebody says please tell farmer jim thanks i followed him in six months ago and i'm extremely happy. as they should be. the stock's up 30% since then? is this as good as it gets that is the key question >> that is the key question. the short answer is no scott, this is a stock that deserves to trade at a multiple of 20 times. this year's earnings and it's got a fiscal year of $200 a share. it should be at $2 hun, but the que question is why should it have a multiple cristiano amon is making it clear that his stamp is to diversify away from mobile phones that's key th

the indian fintech company backed by softbank, warren buffett and more plunging 40% in two days afterublic last week in india's biggest ipo ever investors lost on paper $090 million in just 48 hours by some estimates. stay with us hi, my name is sam davis and i'm going to tell you about exciting medicare advantage plans that can provide broad coverage, and still may save you money on monthly premiums and prescription drugs. with original medicare, you're covered for hospital stays and doctor office visits. but you have to meet a deductible for each, and then you're still responsible for 20% of the cost. next, let's look at a medicare supplement plan. as you can see, they cover the same things as original medicare, and they also cover your medicare deductibles and co-insurance. but, they often have higher monthly premiums and no prescription drug coverage. now, let's take a look at humana's medicare advantage plans. w ed ed visits and your original medicare deductibles are covered. and of course, most humana medicare advantage plans include prescription drug coverage. in fact, in 2020

that's what warren buffett would tell you. >> i agree 1,000%, liz. look, the market started off the beginning of the strong seasonal sector season on a high note. we didn't have any real major corrections during the weak seasonal season, and then we add-on to the fact that everything was hitting new highs , we got overboard on the markets indicators. then, on top of that, now you have the ppi number comes out that's just an excuse now to start taking some profits in here, and let the market back down, but, it's a great opportunity to get in and shellady is right. the fact is, equities really are the only place that offer liquidity that investors can go into. real estate could be a very good investment. you're tying up your money for a period of time, but if you go into stocks, you're not. you can get in and out, anytime you want and there's great names that have been running up and it really ran ahead of themselves that we should be buying in here, such as advanced micro devices, and t rex and target. you take a look at these companies, these compani

warren buffett. the legend is that he gets two egg mcmuffin's every morning for breakfast.ese. larry: he spends like $3.20 or something on the. so, i think he can afford it. drew: breaking his bank. larry: a bye gama. 60 -- a bargain. $.63. kristen: then you save them money and you invest it in crypto like larry is doing. larry: whatever. [laughter] it all works. it all works. to be a thriver with metastatic breast cancer means asking for what we want. and need. and we need more time. so, we want kisqali. women are living longer than ever before with kisqali when taken with an aromatase inhibitor or fulvestrant in postmenopausal women with hr+, her2- metastatic breast cancer. kisqali is a pill that's significantly more effective at delaying disease progression versus an aromatase inhibitor or fulvestrant alone. kisqali can cause lung problems, or an abnormal heartbeat, which can lead to death. it can cause serious skin reactions, liver problems, and low white blood cell counts that may result in severe infections. tell your doctor right away if you have new or worsening sym

. >> warren buffett likes apple's buybacks. >> well, why wouldn't he, he's a shareholder and they're hundred billion dollars in stock. >> buybacks used to-- it's just another example of things that used to be viewed as kind of, ugh, you know, just going mainstream. >> jacoby: sheila bair, a former top banking regulator, was issuing public warnings at the time that the fed was incentivizing bad behavior on wall street despite its best intentions. >> i can't fault the companies so much, because these interest rate-- this interest rate environment creates very strong economic incentives to d exactly what they're doing. it's hard to create a new product, it's hard to come up with a new idea for a service, it's hard to build a plant and hire people and run the organization. it's real easy to issue some debt and pay it out to your shareholde to goose your share price. that's real easy to do, but it doesn't create real wealth, it doesn't create real opportunity, it doesn't create jobs, it doesn't improve the labor market. it's just another example of how these very low interest rates have r

company by market capitalization, that surpasses warren buffett's $648 billion behemoth berkshire hathaway. parents, i remind you of more than 70 huge companies with five of them would make the fortune 500 if they were broken out, including geiko, insurance, dairy queen and the entire railroad he owns, burlington northern. so now nvidia is higher than that. is the technology sector getting an assist from the federal reserve keeping borrowing rates near zero? to our floor show t 282 billion in assets under management, eric friedman is chief investment officer at u.s. bank wealth management and sarge guilfoyle away from his screens for a few moments to find out what he's doing on this thursday, final hour. eric so much for the rotation out tech and into value, which side are you saying is best for your investors right now? >> liz, we think that technology is the place where you want to be. that's the spot that we have as a permanent place in our client portfolio, as we do think that for the next let's call it three to four months, it's cyclical value will do well. we've used a one-two horizo

feel people -- they're out for a long time, 25 great years of creating billionaires >> i think warren buffett has covered that ground closely, saying these people can't outperform they have a lot of good graphs have you ever seen the presentation, whiteboards? >> marketing is the key to it? >> i was in there for a half hour, and said, where is your dec? a dec this big, wow, wow, and you get to the numbers, and they suck, the numbers are awful. so i come in and say -- i say i'm going to beat everybody. well, no, what is your strategy? to when? well, no, but what's your plan to win a w is a w they kicked me out so fast my head was spinning, and they gave all that money to the guys who made the graphs. >> are they now also expected to raise money when it's their turn >> the opposite is what we're going to see today. >> mark tritton is going to talk about that the stock just had a make move adam aaron in melissa's show, basically said these people saved my company >> this year was not the biggest move because of the memes. it was still arche good. arche ggos. >> that was not the reddit crowd, som

she was making maybe 1/8 of what the worth of warren buffett. that is what we are looking at.ople talk about social programs as if it is the devil. we were giving too much to these people. the more people we left out of poverty, the stronger our economy is. the stronger the economy is, the more we could pay down our debt. homelessness, we have a major investment in the build back better plan how is the wealth in america built from the bottom up? it is with ownership. we are going to address that. we are going to address putting women back to work. we know that during this pandemic, we have had millions of women leave the workforce. not making money, not contributing. now sitting at home, in most families, we are two income families. lastly, we need to have a conversation about reparations when it comes to african-americans and it does not always equate to 40 acres. the conversation i want to see happening, why are we the most imprudent race in america. why are we disproportionately the largest in poverty. when you look at our educational outcome and you look at slavery, they d

trend less of a meme stock and less speculating and getting more into the old fundamental that warren buffettked about for decades is not caring about a great company an apple, a facebook, a netflix, a google will do but what would they be over five, ten or 15 years the more knowledge that the young people get today -- remember, there's no education in the american system you can't learn in high school so this is an alternative to come and get educated and make wise investments for the long haul. >> bernard, you were a quantum investor yourself. do you think individual stock picking by retail investors is the best way for people to get long term outperformance and steady returns or take a diversified etf approach >> i think both are viable paths. it is about being investing and taking control of the money and educating yourself we aspire anybody with the content they need. there's a crisis in investing education right now. every week there are head leans of young investors betting on bankrupt companies and the only way to solve the problem is to have a path of least resistance for people and

>> so, look, i think that warren buffett even said that he could pay more of his taxes.o know several of these billionaires who don't believe they're paying enough in their taxes and when you talk about 40% of the people that aren't paying taxes, an analysis 40% by the next time you and i talk i want to break in and understand the numbers. and some are millionaires and billionaires who aren't paying anything, and then we have those struggling and below the poverty lies. >> it used to be in the 1950's, congressman, that virtually everyone in this country was paying something in taxes and i'm wondering if that is disproportionate, is that a problem going forward? >> i think everybody should be paying something and those that make more should be paying more, and i think it's very easy to take a paintbrush and 40% number, hide what is the real breakdown is. neil, i can't give it to you right now, but i will in another week when i hang up on this call or this. neil: i'll looked forward to that. in the meantime, congressman have a great thanksgiving and we'll see where it goes