then some of that is the -- halo of the warren buffett affect -- some of that is the halo of the warren buffett effect. if you look at what's going on in china, in europe, there is not really a lot of good stories there from our perspective right now. we are certainly watching that space. evaluation gaps -- the valuation gaps are what they are. >> who and japan -- who in japan would benefit the most from normalization by the boj? >> the banking sector i think is a major one. we are certainly watching. we saw her comments over the weekend. just to see where things settle out. it is not to have a path toward policy normalization -- it is nice to have a path toward policy normalization. i think the story is pretty clear, it's pretty disruptive for the economy writ large but especially for the banking sector. that is an area we would think about there. >> what does normalization and the u.s. look like to you and what sectors could get hit or benefit from the changes that the fed -- at the fed? >> there's a big debate right now certainly within the market and even internally within our team,

i was one of warren buffett. best friends and the reason is ray dalio has money is to take a very small hedge fund that he started many years ago and turned it into a $20.00 around the $24000000000.00 forward shade. so really when right valeo speaks, the guy we call you knows what he's talking about, what the recommendation to avoid investing in government phones and all to use tash what kind of disruption disease hoping about the or yeah, well the thing what he's referring to nikki is the fact that let's 1st just explain to, to have what hi, i'm exactly what up on days because it's quite a, hey, that's to sort of bottom that around the place and every financial, that newspaper, etc. publication. but really, a lot of people don't really know what it is, but it's quite simple. what a bond is nikki, is if you and i go out and buy a phones. what we're doing is we've actually lending money to someone in the case of what that is preparing to hit. he's talking about us government bones. so that's where you are. essenti

that's the warren buffett way. purchase something when it is down. >> when they have a fire sale nobody comes because they are all scared to death but warren buffett is right. it sounds good but hard to do. you have to have a long time horizon and not worry about entry levels but buying things clearly something you want to do but talking about this endlessly, luckily now for investors you don't want to take on extra risks, 5.5%, money market funds so there is a good place to go and hide while markets work their way through this uncertainty. as far as markets are concerned i think we are going to be in trading range. you could make a pretty good case of the market is hanging pretty good when you consider all the bad news that is out there. it is a frustrating period of time. have to get through it and hopefully on the positive side. cheryl: looking at 10 year yields of or. 25%. it was soaring above 5%, now below it at the moment. do you take some of the money yielding so much and start putting it to work and if so,

warren buffett looks like he is a meteorologist. >> in the economy dodged a bullet.t happened was berkshire hathaway is a big insurer. they placed a bet that the hurricane season would not be that bad. the insured losses are going to be around 10 billion for this hurricane. that compares to 50-65 billion for hurricane last year. 1.8% this week. an all-time high. >> buying more stock. when covid hit, locked up in our homes and loaded up electronic tvs. after years of past we are set. >> it looks like the consumers darting to stabilize. best buy earnings. the company talked about going forward. talking about the guidance. growing quarter to quarter for the rest of the year. 3% for the week. strong business and consumer demand for pcs. stock up 20%. talking about improving demand throughout the year. this will set the stage for the next few years of a little bit better growth. you will have an upgrade cycle like iphones and computers and you will have dealt with pretty good artificial intelligence server business. >> speaking of iphone upgrade, that is coming on septemb

liz: even though warren buffett probably is. he only buys the stock on days it's going down, that would be today. great to have you both, thank you so much. >>> all right. is so since 2005, and you all know in if you have iphones, apple has used google as the default search engine for its safari web browser. at this hour that deal is landing google right in the crosshairs of the department of justice. we have a live report on the first big tech no knollly case -- monopoly case. investors hailing paypal, the payments company sign a multiyear global agreement with uber, expanding the hide-hailing firm's collaboration with the with the payments company. we're back in a minute, don't move. ♪ ♪ dad, we got this. we got this. we got this. we got this. we got this. yay! we got this. we got this! life is for living. we got this! let's partner for all of it. edward jones ♪ is it possible to fall in love with your home... ...before you even step inside? ♪ discover the magnolia home james hardie collection. available now in siding colors,

let's start with the losers hp under pressure that warren buffett's unloaded several million shares per yet we are seeing a touch of weakness in adobe stock added the company's quarterly results. adobe when the ai gainers so big expectations. one endless view that etsy -- and others view is that as he could perform well. that stock responding to that. wall street call today up 3% per year the big story of the day has been the high-profile arm ipo. after that trading debuted we continue to watch the stock. currently up more than 18% at this hour. matt: one we're waiting for all morning. did not start trading until this afternoon per year just after that, caroline hyde spoke with the ceo who discuss interest in the company. >> investors want to understand the opportunity we had in front of us and ai, which you cannot talk about our industry without talking about ai. helping them understand you cannot really run ai without arm, a cpu and pointing out it is everywhere in every device people touch a big part of the process for us. jon: katie ruth covers the ipo scene for the team and joins u

he 3% up ever since warren buffett turned positive on japanese financials. there about what we have been seeing with the economy, feeling the bank of japan can end years of the rock-bottom recycled they have had. this is a look at the property side of things. evergrande 15.8%. country garden the main story. jumped nearly 10% after a report they got approval to extend payment on six yuan bonds by three years. sinnott ocean up 29%. -- sino-ocean up 29%. this is what it looks like for the macro picture. the nikkei leading the charge overall. continuing the winning streak. nine days if it finishes like that. ♪ tax rates, exemption certificates or filing returns. avalarahhh ahhh ahhh ahhh j.p. morgan wealth management knows it's easy to get lost in investment research. get help with j.p morgan personal advisors. hey, david! ready to get started? work with advisors who create a plan with you, and help you find the right investments. so great getting to know you, let's take a look at your new investment plan. ok, great! this should have you moving in the right dire

so perhaps even warren buffett's job may be at risk. so this is certainly a concern of some of the more optimistic side believe that this could lead to what some call a post scarce euro. and meaning that we can produce so much of everything through a generative ai, ai link to 3 d printing, that there will be no scarcity of anything in the world. and we would reach a sort of a communist utopia. perhaps the marks might be smiling down from heaven at this prospect. all right, coming up next, would you let a guy decide your fate in a court of law? we'll discuss it when we return with and the lock sit tight, the m o will be right back. the of the take a fresh look around his life. kaleidoscopic isn't just a shifted reality. distortion by power to division with no real opinions. fixtures designed to simplify will confuse really once a better wills, and is it just as a chosen few fractured images presented to this. but can you see through their illusions, going underground can the exception. and i'm here to plan with you whatever you do. do no

you could take a page from warren buffett's playbook which is to buy the ultra short-term treasuries,, one fund is an etf, vil. now, another way to get in there is to look at utilities. they're one of the less loved sec editors of the s&p 500 -- sectors of the s&p 500. yields around # 3.3% so, no, you're not beating treasuries, but you do have room for capital appreciation. three stocks we like, american power, center point and night source. jack: all righty. jacob, after a failed rocket lab mission, that stock got hammered. you think it's gone so far, there may be an opportunity. >> yeah. first of all, the stock fell as much as about 17 on the week after the launch failure. it does kind of make sense because you were expecting somewhere around 10 launches this year, and so that would be roughly not exactly about 10% of the company's revenue. and so the net loss could really widen for the year. the stock is down by 17%. if the company can make the fix, then that revenue comes back into the picture, and the stock backs back to where it was before. by i also think -- but i also think lo

to finish quoting warren buffett just to say only when the tide goes out do you discover who is swimmingaked. david: i want to talk about the sec chairman, testifying before congress. a couple issues, whether he wants to regulate all the cryptos talking about crypto compliance. more than that overall dependency or focus on these woke issues about trying to sort of direct the way corporations operate specifically regarding woke issues, fossil fuels et cetera. what do you think? will he get any pushback he will listen to or is it going to go past him? >> great question. i don't know where they are going with this. there has been so much up and down and misunderstandings as relates to the crypto industry or relates to these regulations. we definitely need national conversations, not just on the hill on a specific day but the people need to think about this stuff. we find ourselves in a place the united states is weaker financially than we have ever been. as we look at the shutdown coming. there's a lot of issues that are important to a lot of people, probably need to prioritize the most imp

warren buffett didn't sell his taiwan position because he thought it got too expensive or that it wasn't investment. i think the geopolitical atmosphere is something that came into play in the decision. i think the last 20 years of the world has been driven by economic interest, and i think we are on the hinge of history now where the next 20 years are going to be driven more by geopolitics than economics. if you own apple, i think you consider what wagering xi jinping could do to your portfolio. -- a belligerent xi jinping could do to your portfolio. let's be a fiduciary and take fiduciary responsibility of what happened. >> that brings me on to the ipo in the days ahead. there were a few heads scratched around their exposure and their subsidiary in china, potential risks. when you by the arm ipo? >> i'm not an expert at all and i haven't done fundamental work, so i'm sorry i can't tell you. but if you look into what happened in the saga, let's just say when the chinese arm decided that they were going to be almost autonomous, the board actually lost control of what happened in china, a

david: warren buffett is losing face in hewlett-packard, he was a big supporter for years, what is happeninges to sell his stake 11-point to percent stake, he sold 4.8 million additional shares after the hp earnings showed weakness in china in a cautious corporate consumer who is trimming the ip spending. david: thank you very much, checking the big board. the dow is down about 88 points. it's where it was in premarket activity although a little better right now, the nasdaq is down as well. take it the dow winners all of them are down, united health, walt disney, chevron, caterpillar, they are all trading well in the s&p winners we could take a look at that, seal air corporation, carmax, steel dynamics, the dow inc., the dow inc. is up one and a quarter percent. the nasdaq winners, netflix probably because of the resolution or the proposed resolution of the writers strike. ge healthcare is up, we have old dominion freight line, diamondback energy is trading up right now. the ten year yield is up about nine basis points, big jump in the ten year yield 4.5%, check the gold it's trading down a

lauren: charlie moneyer is 99, warren buffett is 93 and rue pert murdock is 92 and they're doing a-okayost ardent hope for our country's future as you see for your grandchildren and yourself? that's easy, please remove the socialist from the chair of the senate budget committee. that's what i have to say. ashley, you're next. ashley: couldn't agree more. freedom, get the government out of our lives. stuart: yes, yes. wonderful stuff. why are you laughing, lauren? lauren: don't come to me. i done want to answer that question. stuart: you don't? all right, you're off the huge lauren: thank you. stuart: this is from lee randal. ikea moving to san francisco is save because no one will steal their furniture because it has to be assembled and involves work. funny and probably true. lauren: hire people to assemble your ikea furniture. it's a whole industry. ashley: well done, randall. stuart: worst three words in english language: some assembly required. lauren: for senior citizens or a woman. >> thank you, everybody. thank you, everybodying for sending in friday feedback. we really enjoyed ha

. >> yes, we've seen other leaders in our country, you think about warren buffett, many other folks who are in their older ages who are effective leaders and great communicators and can get things done. i think back to a fox news poll in may where about 38% of americans believed that joe biden had the mental soundness and leadership skills to be president. we continue to see those numbers go downward for joe biden as time goes on. the white house strategy has been keep him away from crowds. keep him out of interviews, maybe let him do a little bit of this or that and let the trump indictments do the work. that's not an effective strategy and see it in the downed poll numbers with black voters who don't see this president as being a leader for them. >> julie: scott, this is, of course, not a partisan issue here, aging. because mitch mcconnell's most recent freeze -- frozen moments have been extremely disturbing. his camp says it could still be a lingering side effect from a concussion he suffered. that was many, many months ago. concussions typically do resolve themselves within the firs

. >> charles: then people bring up 92-year-old warren buffett. >> i completely agree, it's about competence wonderful and as great as he is, he doesn't have any political power, he's not making any world changing decisions. joe biden at the age of 80 does have that power and there are serious concerns both among democrats and republicans that he is not just to old for the job but he is not mentally competent and that is where the lion lays. you really have to decide the difference between age and ability and functionality and i think mick jagger has the ability to be a rock star at any age but does biden have the competence to be president at the age of 80? with the functionality that he's currently displaying. >> is a cop-out when they say let the voters decide? to be quite frank particularly this year and in the presidential election, boaters at the democratic side have one choice, it's joe biden. >> exactly, and we have already shown that two-thirds of democrats don't believe biden is fit to stand in the next election. that goes to show, democrats are stuck between a rock and a hard plac

warren buffett did not sell his taiwan some position because he thought -- semi position because he thoughtgot too expensive or was not a great investment. the geopolitical atmosphere is something that came into play in their decisions taiwan semi. the last 20 years of the world has been driven by economics and economic interests. we are at a hinge in history now for the next 20 years will be driven more by geopolitics and economics -- van economics. if you own apple, should consider what a belligerent xi jinping could do to your portfolio. kriti: hayman capital management cio kyle bass speaking there with alix steel. he is talking of the distress story and apple and that is what is driving the narrative right now. we put a lot of emphasis on tesla's the last 24 hours. a massive 10% move up the big upgrade from morgan stanley. they are talking of the supercomputer. apple is a hidden talent in the idea that it is a multitrillion dollar company that seems to have this relationship with the s&p 500. every time it hits the trillion dollar mark, one showing dollars or $2 trillion, you are seeing

bernie sanders is older than joe biden, and so is rupert murdoch, and so is warren buffett. think an ad with those three would be a good star. wisdom, experience, steady hand, getting things done, what is wrong? what is the problem here. they need to really turn that, in the same way for hunter biden. i think the president has been reluctant to say what most americans are longing for him to say, and that is that i am disappointed that my son had such poor judgment, but i still love him. that should not be a difficult mountain to climb, and i think -- >> you think that helps, does not throw logs on the -- >> i don't think so. it's already out there. you can pretend it's not. i think that's a mistake. that is what they are doing with the impeachment. they're trying to distract the american people, for the american people. it's kind of like the big lie. we all thought, well, nobody will really believe that the election was fixed. and there is a huge classifying portion of americans that think the election was rigged. >> that is the thing about politics, you can concede upfront.

warren buffett is 9399 when they do annual address to their people for hours of end they are whip smart word perfect so this is not about age. this is about his ability to do the job, given condition of himself mentally and physically. and i think we need to get this debate away from just he's 80. because other people will be watching this you go hang on. i'm 80 you're my dad is 80 or grandfather is 80. they're not like this. this is not how most 8 -year-old people are. they don't spend time falling over not ones that i know my dad is 83 fall over every two minutes he has to get the queen actually died -- and so on and so on. i think the debate is a good debate to have and 69% of in thes think he's too old but we need to move away from the fact that he's 08. >> the poll too old they've seen with their own eyes and it is not to make fun of him and not to ridicule him but to say that we are just seeing with or own eyes and that's the most demanding job in the world is president of the united states. jeanine: you know, this is not about the republicans making political hay out of the fact

never had someone who is going to be 86 years old, for goodness sake, which is considered to, warren buffettnsidered a way, way, way over the distant pills. but, listen, they are both a very accomplished. i want them both to succeed, both the country that we're all rooting for, what happens now is going to determine a lot about the rest of our lives. i just hope that biden's health holds up, i hope both of their house hold up wilson to mentioned are a, fishing for a compliment. do you still look great for your age. thank you. >> thank you. i was totally waiting for you to say. that >>, so i said it to you because you mentioned it more than, once i've got you. >> i know you are a skilled lawyer, but not your skilled. reporter >> ambassador, laura coates, whatever would be. next i want to thank you so much. former president trump, of course, is criticizing his party over the messaging on abortion. morning some republicans will not win on this issue in 2024. trump, said he could negotiate a deal between democrats, republicans, on abortion restriction and called governor ron desantis six-week ba

. >> you have kind of the warren buffett punch card approach here why not sell or go, truly can't getny better than this >> well, i think you have to focus now on interest rates and this whole narrative about higher for longer. and i've actually switched that to higher forever. because i think a 7%, you know, mortgage rate is an equilibrium rate it's just that we have forgotten, kelly, prior to 2007, those of us around before then, interest rates were higher then. and we still had market rallies in technology can still do well in a higher interest rate, despite the mathematics behind that that we have heard ad nauseam about higher interest rates. >> pier, i'm glad you brought this up because if you said, well, you know, 20 years ago interest rates were at these levels well, 20 years ago we almost had a budget surplus really the budget picture couldn't be worse right now. i don't really understand how it's going to get solved does that make this time different because we could potentially have kind of yields spiraling for the wrong reasons and for reasons we haven't really had to confr

skra jamie invoked warren buffett's famous saying when the tide goes out, that is when you know who haseen swimming naked and he equates 2% more to the tide going out and if americans don't prepare, they are stuck. >> but it is tough. what do you say to a family how should you change your behavior if you think higher interest rates are coming. >> can you speak to that? >> don't take on more debt right now. that is a big thing. credit card interest rates have gone up quite a bit. if you have bigger balances, there will be more and more pain to service those debts. to the extent possible have longer term -- if you have loans, longer term home loans are better, less sensitive than shorter term. it is a tough thing to deal with. >> and we're not everyone factoring in yet the fact we have an auto shutdown, it looks like we could have a government shutdown, student loan repayments start october 1, and gas is really high. four things that aren't enfactored in yet. >> oil prices, people are feeling it at the pump because gas prices. and that affects families all across the country right away. s

. >>> let's get to filings that show warren buffett's berkshire hathaway sold 5.5 million shares in hpg berkshire's previous stake down to 11.7%. that sale comes after the maker of personal computers and printers or cut its full-year earnings estimate last month, hp's down 2.25% but off the lows of the session. smooth sailing for carnival and norwegian cruise lines after the companies were upgraded to an outright buy. redburn says the desire to travel after the pandemic is continuing to drive demand. we've got norwegians up 5.6%, carnival up 3.6%. investors are betting on penn entertainment after deutsche bank put the stock on its catalyst call buy idea list. penn will move higher in the short term and is calling the launch of espn bet a key event to watch. deutsche expects the launch to grab attention from may yo -- major media outlets. penn's up 8.5%. and investors are embracing international game -- shares. the unit may fetch $4-5 billion in a sale. igt said, quote, we are still in the process of exploring strategic alternatives for our global gaming and play digital segments and ca

stuart: i think it was warren buffett this and how do you make a million dollars you start with a billione and then you get a million. i think that's what he said i would not touch an airline with a 10-foot pole at this point in my life. moving onto the mozambique maker, david two for one stock split and they are down. lauren: it is the first stock split in a decade. i don't know why they're down you would think this would use up demand the last split was in 2014 and shares were sevenfold in that time. they want to bring the bubble of the shares of trade in denmark to what they traded the u.s. and make them more on par there is about $500 difference between the share price. stuart: may be some profit taking that's why they made so much money on ozempic. lauren: the biggest company in europe. stuart: still on vaccines, moderna, i'm pretty sure they're scaling down there vaccine production and i don't know why the representative. lauren: the scaling back there vaccine production because the last booster last fall, just what he% of americans signed up for one so they know there is less deman

bob dylan night, 82 joe biden, 80 mitch mcconnell. 81, how warren buffett, 93 all still working. so got to stay healthy and maybe we should be taking ozempic and so we keep the weight off james now so we can work into our 80's. i'm sure kron viewers would love that. yeah, absolutely. haha. i don't know if move it rob. thank you as always. excited to hear this album is going pretty good. >> let us know what you want, rob to talk about tomorrow and we chat with cities thursday. so we'll talk with him on monday. facebook, twitter, you've got his handles there. you also have mail. he's always happy to chat with you there to rob at rob black dot com. thank you, rob. we'll see on monday. at cretors, we handcraft every batch of our delicious popcorn. like our cretors cheese and caramel mix. great on their own, even better together. try cretors, handcrafted small-batch popcorn. >> it's 9 24 2 bay area. businesses are listed in the top places to enjoy fall activities. trips to discover dot com put out a list of the best places around the country for fall themed activities and of the 18 pl

. >> we have seen critics, everyone from warren buffett and others saying that the smooth nature of the that private equity funds report hides the real volatility of what's happening with the companies that they own. >> yeah, that's exactly right. i invest in small caps, which are often a hated sector of the market because they go up and down so much. the volatility is very scary, and people can get really turned off of small caps because the volatility is so high. the average small cap has -- the median market cap for private equity is about $180 million. so these are much smaller than small caps. when you look at the standard deviation, it's about 8%, 9%, which is about investment grade bonds. small caps are about 23%. so you are getting microcaps with volatility that looks like investment grade bonds. when you think about how much people allocate in the small caps, you might say i'm going to put 5%, 10% of my portfolio. private equity is smaller than small cap and more levered with floating rate debt. >> right. and i want to point out implicit in this is a warning about private credc

it's starting to feel, to me, similar to what it felt like before the pandemic, when, remember, warren buffett and others said, there's a long-term play with the airlines. i'm starting to feel like there may not be a long-term play. they're back in this trading dilemma. you trade them up and down, up and down. demand is strong. demand remains strong. little soft on the pricing, in the third quarter. but not terrible. so, why is there no love for these stocks at all? >> i'm curious, phil, how do they stick to the revenue and cost guidance they gave in july even with fuel costs going up so much? >> a lot of that has to do with the demand. they had a great summer. international, united is killing it. they are absolutely killing it on the international business. they've got the pricing there, they have the demand there. they added the capacity at the right time -- >> but the cost guidance remains the same. >> the math doesn't add up, is your point. >> right. i know what you're saying. >> it would be one thing if they saidcreasing capacity. airlines, when they get sloppy on capacity, the multiple d

. >> littlejohn also stole thousands of tax returns from wealthroy americans elon musk, warren buffett, jeff bezos, a and leaked them to a left-wing shop propublica. >> littlejohn faces no more than five years in prison. yo president oftates' the united states, most privatea and financiallndy documentsillea and illegally leak them to a liberal paper which they publish and affect the outcome of the electior thes in just five years. >> which progressive d.c. judge will just knock down to one and joe biden will probably give hille m congressil medal of honor and then walk thro from the ceremony midway through. >> this criminal act costs trump thousands of votes. and there's no way a 38y year old guy named littlejohn living in maryland alone. >> no way. you're saying when an irs contractor who accesses the commander in chief's tax return s, that doesn't trigger an alarm on irs computers?s. comeo one saw this. come on. >> and littlejohn cold called nersted ik times reporte and said, hey, i think you might be interested in what i haven . >> this is a conspiracy to steal the president's tax r

i can tell you something right now, warren buffett would never do anything like that.month u.s. incomes moved up 0.2%, two tenths of a percent and spending exploded and eight tenths of a percent and digging into our savings. our savings rate now is down to 3.5%. we need at least two-thirds of that as a nation, that's considered to be a smart level for emergencies and things like that. now, americans have been spending like -- and partying like the song like it's 1999 for a long time. even before the pandemic. now, consider our level for instance what's happening more recently and more disposable real income per kappa and three percentage points below where we were forecast to be before the pan democrat and i can still haven't got there and the flip side and real spending is three percentage points up above the friend. even by the way, as we were eating through trillions and trillions of dollars of so-call excess savings. only 50% feel comfort and will majority of the cohort stressing out over finances and here's the thing, folks, finances and getting by are two separat

the citizens in florida got a billion dollars of reinsurance from warren buffett's berkshire hathaway. and then the texas wind insurance authority secured over a billion dollars of reinsurance protection from the industry and also from the cap bond industry. the reinsurers have the capital and they are willing to deploy it if they have the fair margin. there are people who are standing on the sidelines as berkshire hathaway was last year when they didn't participate in the citizens program because the rates were inadequate. >> it would seem to me that if you are incentivized to use reinsurance market more, it would actually drive down your cost. >> and when i was chairman of the committee six and a half years ago, we had flood insurance and wanted to use reinsurance markets to help. if we had done over the last previous 20 years, we would have made all of the claims and never had any of the tax bills go to the taxpayers and still would have had coverage at a minimum rate increase. so there is a place for it. >> the percentage of increased insurance cost through the regulations -- >> i

warren buffett said 20 years ago, 15 years ago, he said he wouldn't invest in tesla, and now he saysis is coming within, you know, by 2025. when that comes, that's going to be exactly the same thing as what happened when tesla introduced the model s. yur you're going to see this tremendous change going on there. the software, core competency, and then dojo. so dojo is a training. what that is, they have this massive amount of data for all these cars they've been driving around for millions and millions of miles, and that keeps growing expon exponentially. no one has that. to crunch the data, you need compute, and compute is what nvidia has and nvidia has compute chip, which is for everyone to use. they have all these different, you know, device -- all these different, you know, opportunities that this company has, what our company has is they're making their own compute, and in 18 months they're going to have more compute than anyone in the world, tesla, and compute in your basement as opposed to the chip that's in your car. what they're going to have is they will have so much massiv

and it was was it warren buffett who said, you see who's bathing naked when the tide goes out and we very exposed. >> well i shouldn't mean to expose it, but she absolutely did do that. and what i found deeply ironic because you've got mark who was the, you mark carney, who was the, you know, the governor of the bank of overseeing most of england overseeing most of this, you castigating her. this, you know, castigating her. >> because what he's doing , >> and because what he's doing, i'm castigation was i'm afraid that castigation was the form of a very large fig leaf, because he was he was one of those fundamentally responsible for this. indeed, the gathering at which he was addressing the gathering of addressing was the gathering of the parties . and what's the guilty parties. and what's very is every one of very interesting is every one of them is about to lose office. every or has lost office. that is entire collection of leftish politicians who rode that wave and particularly rode the wave of covid lockdown of gigantic state handouts. but neither political party has got the cour

and it was was it warren buffett who said, you see who's bathing naked when the tide goes out and wey exposed. >> well i shouldn't mean to expose it, but she absolutely did do that. and what i found deeply ironic because you've got mark who was the, you mark carney, who was the, you know, the governor of the bank of overseeing most of england overseeing most of this, you castigating her. this, you know, castigating her. >> because what he's doing , >> and because what he's doing, i'm castigation was i'm afraid that castigation was the form of a very large fig leaf, because he was he was one of those fundamentally responsible for this. indeed, the gathering at which he was addressing the gathering of addressing was the gathering of the parties . and what's the guilty parties. and what's very is every one of very interesting is every one of them is about to lose office. every or has lost office. that is entire collection of leftish politicians who rode that wave and particularly rode the wave of covid lockdown of gigantic state handouts. but neither political party has got the courage

capital that has hampered japanese farms is trying to raise -- funds is trying to take a cue from warren buffettoke with the ceo about a fundamental shift mindset emerging among japanese managers. >> definitely, this time it's different. we are entering into a new era. the past 30 years since i have started my company, japan was in a deep deflationary environment. as a matter of fact, we are in deep deflation rather than being deflationary. so, it was very difficult for any business to be profitable. although many companies in japan are profitable, as you know. but they worse some things that were sacrificed. they sacrificed the increase of wages, they sacrificed the increase of capital spending, and research and development. future investment was quite limited. but now, many smart talk -- top management people understand times have changed and it can be more aggressive. if that can be started, it is the most attractive place to be invested. >> does that mean you see the start of the virtuous growth and investment cycle at last. >> finally, they're getting out of the trauma of the bubble burstin

warren buffett did not sell his taiwan semi conductor position because he thought it got too expensivetment i think the geopolitical atmosphere came into play in their decisions with taiwan semi. i think the last 20 years of the world has been driven by economics and economic interests and we are at a hinge of history now where the next 20 years are going to be driven more by geopolitics than they are about economics. if you own apple i think you consider what a belligerent xi jinping could do to your portfolio. shery: kyle bass speaking with us, we have more to come on daybreak this is bloomberg. ♪ what do you see on the horizon? uncertainty? or opportunity. whatever you see, at pgim we can help you rise to the challenges of today, when active investing and disciplined risk management are needed most. drawing on deep expertise across the world's public and private markets in pursuit of long-term returns... pgim. our investments shape tomorrow today. i'd like to thank stitch fix.. ...for taking care of the shopping. for getting my fit just right. for finding me looks that work for me a

that started piano. >> warren buffett said he never knew anybody who never liked jimmy.ything negative about anybody publicly or privately. he wasn't looking to convert himself to the practice. >> thinking back to the song that made him famous in margaritaville, were margaritas really popular before then? in my life they became a big part of -- that's my drink of choice. was it just as popular? >> do we credit margaritaville for? >> i don't snow. >> you know who the song was originally written for. elvis. elvis never sang it. presley. costello. but think about what that song meant -- and the whole -- margaritaville. it's almost silly though. >> they have margaritaville retirement places where you can live now. it's his entire brand of things that go through it. >> 76. i know you think of a total geezer, but it's really prime of life. it's really unfortunate. i was just thinking about that, how if it had been elvis, not jimmy buffett, what would we be talking about with jimmy buffett? it was such a huge part of him. >> he launched his career pretty late. he wasn't through

well, i'm sure warren buffett gets real tired.g. >> yeah, and, by the way, david ignatius made that exact case before he said that joe biden should step aside. he lauded his domestic achievements, talked about the role he's played on the world stage, bringing nato together, adding members to nato, standing strong against vladimir putin, saying, he's done a great job, but it is time to step aside. as i read through david's column a couple nights ago, i was waiting for the end for the answer of, if not biden, who? there wasn't an answer at the end of that. if you look at polling, where even democrats, seven out of ten of them say he's too old, the next question is, well, are you going to vote for him? they'll say, well, of course, i'm going to vote for him. he's running against donald trump. >> right. >> we can say, okay, he's too old. by the way, when he ran last time when he was inaugurated, he was 78. he wasn't jfk in 1960. so he won, and that's the case you're going to hear from the white house. here's our record of achievements

-- japanese firms in the past decades looking to raise $2 billion by 2024 taking a cue from warren buffett'scountry. i spoke exclusively with the ceo about a fundamental shift in mindset. now emerging among japanese managers. >> definitely this time is different. this time start entering into the new era, the past 30 years since i started my company sparx japan was in a very deep deflationary environment. as a matter of fact we are in deep deflation rather than being deflationary so it was very difficult for any business to be profitable although many companies in japan are profitable as you know. but something was sacrificed. they sacrificed the increase of wages. they sacrificed the increase of capital spending. and research and development and so forth. future investment was quite limited. but now many smart top management people understand, time is changed. they can be a lot more aggressive and if that can be started it is a most attractive place to be invested. >> does that mean you see the start of the virtuous growth in investment cycle at last? >> finally they are getting out of this

there will be stress in the system he he said warren buffett says you see who is swimming naked when the tide goes out. politics is his biggest worry. >> we will see what deal the president can do if he gets the auto workers >>> president biden is going to join the uaw picket line i think his possible rival in the 2024 election was ready to do it, too both of these guys >> this is what pushed him donald trump was saying he will go there if you lose michigan, you will have a tough time winning the election the first time in over 100 years -- first time ever -- we had a sitting president going to stand on the picket line his chief rival was threatening to do. we had debbie dingell on last week she said he could lose she told me off camera she said he could lose michigan because trump resonates with the auto workers and the people there. >> it is a tough situation there are positives and negatives. inflation is the reason people are sour on the economy. he is standing -- he is doing this -- in his words solidarity with the uaw. shawn fain will speak out. phil lebeau will be there watch

american businessman and philanthropist warren buffett spent millions to help ukrainian soldiers, bute allies know about this and are trying to resist it anki well, we continue to open up for you the horizons of worldwide insanity, which are becoming wider, this time we are transferred to in japan, this 39-year-old man declares that he is trump but not transgender, but a trans ager from the english word age, that is , age, that is, this samurai actually feels 28 years old, that is, he does not grow old going in his soul, he will always be 28. no matter how much was in the passport for this trans transition, the japanese decided after a scandal at work, the boss criticized him for a mistake and asked, but how can an almost 40-year-old man not know how to do the simplest things in the word at all. well, it hurt, because of which he chose the age at which he would feel more comfortable and now he is 28, agree , he feels conveniently uncomfortable, this is representatives of the lgbt community in the channel of the largest cities of the country are marching millions against the planting l

that guy was next level songwriter, if you ask bob dylan and next level businessman if you ask warren buffett, branded it and sold it. and still walked away with credibility. how did he do that? >> well, let's talk about the music side of it. you mentioned kenny chesney and zach brown, they're saying, we does what he does, maybe a little more country to what they do. what did he mean to music? it is easy to say "cheeseburger in paradise," but there is a lot more there. >> it took us to realize how much was in fact there. and i was in rock radio in the mid-'70s when "cheeseburger" came out, oh, that's that guy over there, he's an a.m. guy. over the years, we have developed this incredible respect for him. when he passed, the first thing i thought was of a song about the death of an unpopular poet. which was on his last studio album. and he talks about how that works, how as a poet he's able to, you know, walk that line, be literate and yet pay the band, you know. >> yeah. you know, holly, in a conversation i had with him in the past years, he talked about being on the back nine of life. he sai