the alter ego to warren buffett sadly has died aged 99. that's next. bloomberg. ♪ introducing the limited edition disney collection from blendjet. nine exciting designs your whole family will adore blendjet 2 is portable, which means you can blend up nutritious smoothies, protein shakes, or frozen treats, just about anywhere! recharge quickly via usb-c. it even cleans itself. order yours now from blendjet.com and bring a little disney into your life. lizzy: welcome back to bloomberg daybreak: europe. sad news broke overnight. berkshire hathaway announced the death of charlie monger. he was 99 years old. warren buffett honored his right-hand man saying his inspiration, wisdom and participation help shape berkshire hathaway. here's a look back on his life and legacy. >> charles monger served as sidekick to warren buffett for almost six years as they transform berkshire hathaway from a failing textile maker into an empire. a lawyer by training, he help them craft of philosophy and investing in companies for the long-term. in 1962 the two men began investi

the friendship, but also sort of the give and take and how charlie was the true foil to warren buffett in terms of bouncing investment ideas. i remember warren called charlie the abomabominable no-man. >> yeah, saying, this doesn't work and here's why. they did figure out together a different thought of investing, a different way of building things. warrren buffett had been an act lite, buying good businesses, decent businesses, at really cheap prices. charlie munger is the one who kind of changed warren buffett's thinkings on these things, where he said, we should be buying great businesses at decent prices. you don't have to go so low and get a great bargain price for it if you have a great business, that will eventually take care of ooitself. today, warren buffett putting out a statement, saying, berkshire hathaway could not have been built without charlie's inspiration, wisdom, and participation. and just a couple of weeks ago, when i sat down with charlie, he did talk a little bit about how things started at berkshire hathaway. here's what he had to say. >> i did not really think

warren buffett and charlie monger. we welcome lawrence cunningham. g me on fox business. what is a day like this mean for you? >> i cried a little. i'm sure warren is despondent. you are right he brought a lot of joy, intelligence and wisdom to large number of people. a big community is coming to gather even on a sad day like this with a tiny bit of joy. liz: you talk about when they first met. it was years after both of them, at different times because warren was 7 years younger, worked at warren's grandfather's grocery store but he said in charlie's almanac, the book warren gave to me many years ago and said you have to read this because it is so full of things that are too brilliant to be true. of the minute they met at a dinner party, what happened? it was like a mind melting with a handshake, started working together. >> instantly knew they could learn a lot from each other. they had shared values, the same analytical ability, passion for learning and reading but they had a sense that they could complement each other and that is what they went ah

just to show how warren buffett has the confidence, he purchased berkshire hathaway stock in the pasting has changed. they built a tremendous company, and the only difference will be is it might not be as fun anymore. >> that's a great point right there. one thing you mentioned i do want to talk about, again, we're mourning the loss of charlie munger. he passed away at 99 years old. you mentioned succession. how are you viewing the succession plan and the people in place? >> well, the people in place are the people who are driving the business on a day-to-day basis. our members are not inclined to make any changes and they are anticipating opportunities because they've been sitting on such a tremendous cash position. our members like charlie munger are waiting for favorable investment opportunities. >> barbara goodstein, a managing partner of r360. thank you again for your time and your insight. >> thank you. >>> time now for a check on some of this morning's top corporate stories. our silvana henao is back with more. >> thank you. the fallout of the cybersecurity breach last month ro

charlie munger and warren buffett were friends and partners. over dinner in omaha over 60 years ago. >> go ahead. >> there was a prominent doctor couple. his name was eddie davis. her name was dorothy davis. she said, we've heard you manage money and we'd be kind of interested in listening to your story about how you do it and what we might do with you. so i went over. i talked to them. i was full of myself. i couldn't talk fast enough about stocks in those days, and dorothy davis, very smart, she'd listen to every word, and the doctor was over in the corner with a yo-yo or something, not paying much attention. she lookedov ed over and said i going to manage $100,000. in a nice way, i said, doctor, you haven't said much. i'd kind of like to know why you're giving me this $100,000. i was much more modest as i edged my way into it. the doctor looked at me and said, well, you remind me of charlie munger. i said, well, i don't know who charlie munger is, but i like him. and he gave me $100,000 and then they told me about charlie, the young kid, how

in may of 2023, warren buffett said cash is not trash.at is because he is waiting for the right opportunity to pick up some stocks that will, perhaps, work. remember that 78% of the equity portfolio and equity performance of berkshire is based off the five stocks. i like to call them the abcs of berkshire. you have apple at $156.8 billion. american express is part of it. bank of america is the "b" with the share of the division. how have the top three done when it comes to the performance across the year? you have apple's dip happening after july. that is impacting berkshire across the portfolio. that is where the $20 billion losses comes from. this is where you see it in berkshire's share price across this year when he compared to t s&p. yes, it goes up, but the rise is based off apple's decline, but you have the bond yields helping the portfolio overall. s&p 500 is climbing up to the middle the of the year. good earnings, but waiting for the next acquisition. >> arabile, thank you for the breakdown. that does it for "street signs." "wor

jonathan: charlie monger, the man who build berkshire hathaway alongside warren buffett has died. ett pay tribute saying that the company could not have been built to its present status without charles' inspiration, wisdom, and participation. he was one of its biggest shareholders. he was 99. tom: 99. a long, wonderful life. i said this to nathan hager in the last hour. the singular feature, and i was a young kid, was the shock of 73, 74. he was formed by big double-digit negative losses. what i called the pittsburgh recession is when pittsburgh evaporated. in 73-70 four he lost a lot of money and that framed his humility moving forward. lisa: he also had great wit. one of my favorite quotes i was reading yesterday, around 2016 an acquaintance asked which person in a long life he felt most grateful to. my second wife's first husband. i had the love of this woman by being a somewhat less awful husband than he was. isn't that one of the best things? jonathan: can you give us your official view of the situation? lisa: i love that quote. to mean, the love stories behind some of these f

warren buffett has lost his confidant and close

the man he built berkshire hathaway with, warren buffett, becoming a billionaire in the process. d say to buffett, you are not thinking straight. and in his own right, he had his own fan base. crowds would turn up whenever he would come to speak. he jokingly referred to his supporters as rupees. he never quite rivaled warren buffett in terms of worldwide celebrity, but he did have that following in his own right. lots more to come here on "daybreak: asia." this is bloomberg. (jennifer) the reason why golo customers have such long term success is because we focus on real foods in the right balance so you get the results you want. when i tell people how easy it was for me to lose weight on golo, they don't believe me. they don't believe i can eat real food and lose this much weight. the release supplement makes losing weight easy. release sets you up for successful weight loss because it supports your blood sugar levels between meals so you aren't hungry or fatigued. after i started taking release, the weight just started falling off. since starting golo and taking release, i've gon

warren buffett's right hand man, an instrumental figure in effectively turning berkshire hathaway intoestment powerhouse. munger was a man who famously steered buffett away from buying mediocre companies to pursuing meaningful companies like coca-cola. he put up huge opposition to buying potential businesses but had big bets. he invested in the chinese of electric vehicle maker byd. he was a lawyer before moving into investing. he was known for his sharp wit and often treated shareholders at the annual meeting to his one-liners. munger built up a $2 billion fortune. he died peacefully in hospital in california, just shy of his 100th birthday. back to you. >> what a hlife lived there. >>> still to come, the changing relationship between fans and pro athletes. what happens when taun gtso too far and star players fight back? right after this. talking to people about their hearts. ooh, take this exit. how's the heart? i feel like it's good. you feel like it's good? how do you know when it's time to check in on your heart? how do you know? let me show you something. it looks like a credit c

what if warren buffett says, okay, i've had enough.the sidelines. >> great question. we'll get the 13f filing. i would expect the holding is down at berkshire if not eliminated altogether. that is something that i think is priced into the stock. i can't be the only person who is seeing that, right? it's going to be what it's going to be. i see the asset values here, the free cash flow. it's worth a heck of a lot more than the $12 plus or minus. >> you almost hope that he's out. >> so, steph, let's look ahead to "overtime" with disney. we'll hear from bob iger with julia boorstin, right? hugh johnson is coming in to be cfo. are you thinking about buying the stock again? >> that's a huge hire. what a success story at pepsi, and i actually think that maybe he's the next ceo. maybe bob be iger is bringing him in for the next couple of years or however long it's going to be this is a seasoned veteran who knows how to run a company and how to drive sales and, now i think disney is much more complicated than something like a pepsi. pepsi wasn

he's known as warren buffett's side kick, but you cannot describe him as a side kick. chair of berke hathaway, arming -- berkshire hathaway, averaging an annual gain of 20%, that's roughly twice the pace of the s&p. so warren buffett bought cheap, but munger without great -- bought great businesses at reasonable prices. he was willing to pay more. he was also known for his wit. remember? he called bitcoin rat poison. you know, he never graduated college, but he got himself into harvard law school, and he graduated magna cum laude anyway. blind in one eye, yet he drove until his early 90s. his take on life -- because how do to you become so great, so modest and live happy until you're 99 years old? you can buy a new edition of his book, charlie's almanac, out on tuesday. stuart: we could all take lessons from that guy. lauren lauren i know. what a life. stuart: president biden's approval rating continues its downward spiral. a new gallup poll puts it at 37%. and it's even worse on key issues like the mideast and the economy. jason chaffetz is with us now. look, the elec

david: warren buffett takes the bulk of the attention we talk about berkshire and how successful thatosophy has been, and i just took this from the annual report. 3,000,800%, and a lot of that is thanks to charlie munger. yvonne: and he had his own groupies, too. certainly he was the king of the one-liners. rishaad: he came up with the concept of lollapalooza, which is crowd mentality. >> a few years ago i came in they tell me there was no electricity on the island. electricity on the island. sé que él tuviera orgulloso también de vivir de esta viviendo una vida como la que estamos viviendo ahora. es electricidad aquí es salud. the pulmonary embolism happened. but because i have 23andme, i was aware of that gene. that saved my life.

he dubbed himself the next warren buffett.has created real wealth in areas that the left loves to love, each when it makes no financial or social sense. so elon musk has been the real deal. meanwhile, like all these fresh-faced economic gurus that were going to make the masses wealthy, you know, like the sam bankman sam bankman-frieds or the adam newmans of the world, they were going to focus on social capita and all the other buzzwords. it turns out that the public was being ripped off in this heist aided and abetted by fawning reporters and left-leaning reports like business insider still providing cover by blaming higher interest rates. i think it's despicable. there isn't any outrage over the fact that people lost billions of dollars following the king of spacs, i saw one estimate of $12 billion. i bring all this up today because, well, two reasons, right? it's giving tuesday. also i saw today that merriam-webster has deemed the word of the year authentic. they say that it's the word of the year because a.i.s has blurred t

he was friends with warren buffett for 65 years.e didn't officially join as somebody involved as vice chairman until about 1978 but his input stretched back a lot longer than that. he's credited with expanding the way buffett thought about investments. instead of thinking about bad businesses for cheap prices to picking up great businesses for fair prices. you all talked about that today. and two weeks ago i sat down with charlie to talk about his life and times. he was going to turn 100 on january 1st. and we were putting together a longer special report about his 100 years. during that time i got to talk to him a little bit about how he and warren buffett built berkshire into the company it is today. >> warren and i were starting with our little pidly start did we ever get to 100 billion, much less several hundred billion. >> what led to the success? >> we got a little less crazy than most people, a little less stupid than most people. that really helped us. in addition we were given a much longer time to run than most people beca

warren buffett has lost his confidant and close partner.said berkshire hathaway would not be what it is without monger's inspiration and wisdom. thanks for joining us. "ac 360" starts now. >>> tonight on 360 more hostages come out of gaza with another group expected tomorrow and talks under way to extend the truce and the flow of captives for as long as possible. >>> also tonight liz chapy's new book, the elevations in it about the former president which she calls his republican enablers and collaborators and how she says they just could not quit him. >>> and later why republican hopeful nikki haley is more hopeful tonight. the surprising big name and money endorsement she just got and how it might change hear campaign. good evening. thanks for joining us. we begin tonight with the hostage. hamas freed 12 more under a truce that expires tomorrow. this is new video taken from inside gaza of the handover from the afp news agency. you see crowds cheering, some shouting as the latest freed hostages are paraded past them in waiting red cross veh

something warren buffett almost pays a little extra attention to. how?hen marge's is everywhere else seem to be shrinking? questec is a really good question and it comes down to insurance. the last quarter in 2022, we would -- we saw other companies in this huge umbrella struggling. because there were so many catastrophic ones, they seems to really improve their. they did really good things for operating income. quick speaking of the extra margin, i will extra cash. you think i would be deployed. they're not quite there yet. >> it seems like berkshire hathaway has a lot of cash that they don't seem to know what to do with. there doesn't seem to be a lot of opportunities for this famous value investor. charlie munger, the right-hand man at berkshire hathaway did a recent interview saying there could be an acquisition but this seems to paint a picture of a barter economy where cash can actually earn a lot right now. there could potentially be pressure for berkshire hathaway to find something. the share prices are should been performing really well. they ha

warren buffett contributed much of his success to him.peaking of big numbers now, to india where the vehicle shall fails rose 19% during the festive season just ended and this is a critical time for the industry when the bulk of the buying takes place. talking a little more about that with my colleague joining me from mumbai. great to see you. what is driving this growth? solid festive spending. this is across the board growth that we have been seeing, led by things such as three wheelers which grew a1% and two wheeler sales up about 21% and that is reflective of the fact that rural demand which had been tepid and was lagging has started to come back and certainly that is good news for the sector. we also saw modest growth in passenger vehicle numbers, up about 10%, compared to the same period last year during the festive period. this is a segment of the industry that has been impacted by things such as high inventory levels for dealers essentially taking much longer to get the cars off the showrooms. certainly the industry seems to have

charlie munger, the vice chairman alongside warren buffett at the american conglomerate berkshire hathawayinvesting legend who had amassed a net worth of about $2.3—billion—dollars. in a statement, mr buffett said berkshire hathaway could not have been built to its present status without charlie's inspiration, wisdom and participation. mr munger was 99 years old. to news about the environment now... a bbc investigation finds that toxic pollutants released during gas flaring pose a lot more risks to people than previously feared. flaring is the burning of waste gas during oil drilling — and the united arab emirates had banned the routine use of it 20 years ago. but satellite images show it is continuing. that's posing more questions about the effectiveness of the cop28 un climate conference hosted by the uae, a major oil and gas producer, as sarah colenbrander from the 0di think tank told me. this is a new mechanism under the claimant regime, where countries have to come together every five years to assess their process under global climate goals. where fettered for our first review which h

warren buffett's berkshire hathaway reporting a huge jump in third quarter operating earnings up 40% from a year ago. he is now sitting on a cash pile of $157 billion. it was made up for in the bond buying with buffett wasting no time in short-term debt yelleyielding 5%. by the end of the quarter, he owned $126 billion in investments. >>> to the middle east and saudi arabia saying it will extend production cuts of 1 million barrel per day through the end of december. affirming the september announcement it would keep cuts in place through the year's end. this as russia will extend the cut of 300,000 barrels per day through december. >>> harvard graduate bill ackman calling out his alma mater calling out the university to reduce anti-semitic rhetoric. this follows a dozen other ceos last month to refuse employment to members of student groups at harvard that signed a letter for the deadly attacks in israel. >> great to see you. thank you. >>> we have more to come here on "worldwide exchange," including the one word investors have to know today. first, the tech sector is coming off the

. >>> well, charlie munger has passed away at the age of 99, warren buffett's right-hand man since 1978 died peacefully at the hospital in california. becky quick looks back at his life and legacy. >> charlie munger was best known as warren buffett's right-hand man. >> i would say every time i'm with charlie, i've got some new slant on an idea that causes me to rethink certain things. we've had absolutely -- we've had so much fun in the partnership over the years. it's been almost hilarious it's been so much fun. >> buffett credits him for teaching him. >> when he wielded me away from the idea of buying very so-so companies at various prices knowing that there was some small profit in it and looking for wonderful businesses we could buy in -- >> it's not fun to buy a business where you hope this sucker liquidates before it goes broke. >> reporter: it paid off for them like their purchase of see's candies and their stake in coca-cola. munger had owned his own investment firm and practiced law. in 1962 he and a group of attorneys founded the group, a very prominent lawmaker. munger like b

stuart: i met a guy many years ago who inherited a few shares of brookshire mills, that is what warren buffett a shell company the man was worth $100 million is buffett buying anything. >> he bought sirius xm in the shares poplar of more than 9% right now, he added the position to his portfolio 9.7 million shares. stuart: then there's generac, the generator people, their very much in the news and the up 2%, who is pushing them higher. >> bank of america upgrading to neutral from underperformed the bank seeing fewer lingering risks as we go into next year, generators have been very, very popular especially when you think about her grids and the problems that we have as a result of this administration and the policies people want to know that they can have something to rely on. stuart: i think there backordered you have to wait a while to get the bigger ones. citigroup i presume the layoffs began today. >> this is interesting it is been hush-hush but jane fraser put this plan together of cost-cutting that involves layoffs i do not see any numbers just yet of how many people are being let go, it

charlie munger, right hand man of warren buffett has died at the age of 99.ry life and career at both business and investing. >> charlie munger was best known as warren buffett's right-hand man. their investing partnership dating back decades. >> i would say that every time i'm with charlie i've got at least some new slant on an idea

charlie munger was best known as warren buffett's right hand man. their investing partnership dating back decades. >> every time i'm with charlie, i have a new idea that causes me to rethink certain things. we've had absolutely -- we have had so much fun in the partnership of the years. >> it's been almost hilarious, it's been so much fun. >> reporter: buffet credits him with teaching him the importance of paying up for high quality businesses. >> when you get me away from the idea of buying very social companies at very cheap prices, knowing that there was some small proifit, and looking for really fun businesses. >> it's not that fun buying businesses where you hope it liquidates before it goes broke. >> reporter: they had deals like their 1972 purchase of see's candies, and the decision in the '80s to buy a stake in coca cola. before his berkshire days, munger owned his own investment firm and practiced law. in 1962, he and a group of attorneys founded munger tolls, known as munger tolls and olson, a prominent law firm. munger grew up in omaha, n

>> yes, it's always good to see what warren buffett is up to.rday in reglatory filings it was revealed they sold out completely of their stake. they have been steadily trimming their positions in gm out of five of the six last quarters. now they're completely out of the stock. of course the stock is down about 15% of the year, so you could say perhaps it is price related. they've trimmed their stakes in johnson & johnson, proctor and gamble and activision blizzard which we know has been fully acquired by microsoft. 41% of their stock is tied up in one stock, that stock is apple. >> lastly here's something to be thankful for as we think about thanksgiving just one week from today, the price of an average thanksgiving dinner is falling after years of rising costs. tell us about it. >> well, i'm certainly thankful. let me tell you so a thanksgiving meal of 12 classic items for ten people will cost $61.17 on average. that is 4.5% drop from last year's record high of around $64 according to a new survey from the american foreign bureau federation. al

the vice—chairman alongside warren buffett at the american conglomerate berkshire hathaway has died.rs old and investing legend who amassed a network of $2.3 billion. in a statement the present success of the company was credited to him by mr buffy. 0nto climate news now. a bbc investigation has found the toxic pollutants released during gas flaring poses more risk to people than previously feared. flaring is the burning of waste gas during oil drilling and the uae have banned the routine use of it 20 years ago. satellite images show it still continues and that poses more questions about the effectiveness of the cip 28 climate conference hosted by the uae which also happens to be a major oil and gas producer.— be a major oil and gas roducer. , ,., ., producer. the most important feature of _ producer. the most important feature of cop28 _ producer. the most important feature of cop28 in _ producer. the most important feature of cop28 in the - feature of cop28 in the emirates is it marks the culmination of the global stock—take, new mechanisms stock—ta ke, new mechanisms shouldn't sto

in other news: berkshire hathaway — the investment firm owned by renowned investor warren buffett — is$157 billion dollars. the firm unveiled its earnings at the weekend, which revealed it sold more than $5 billion dollars of us and foreign stocks in the third quarter. here in the uk, licences for oil and gas projects in the north sea are set to be awarded annually, under government plans. there is currently no fixed period between licensing rounds — but this would change under a bill to be announced in tuesday's king's speech. ministers said projects would have to meet net zero targets and claimed the policy would guarantee energy security. if you want to reach me online, there's more on all of those stories on the business page of the bbc website. we will see you very soon. bbc news bringing you different stories from across the world. clocking up on the coast, 37 your mum is about to take on her latest ultra running challenge. i’m mum is about to take on her latest ultra running challenge.— ultra running challenge. i'm trying to find as many _ ultra running challenge. i'm trying to

. >> jack, warren buffett is not a trader but he does by insult occasionally and you took a deep dive into the 13 this week. >> at a medium depth dive he sold his remaining general motors and reduced hp and chevron amidst other sales that is according to the 13 filing this past week the quarterly holdings, i saw three takeaways really, number one buffett does not seem enamored by u.s. stocks right now, he has been a net seller this year with the biggest buying in japanese trading companies which are exciting to him, number two he says his favorite holding period is forever but he ditched gm after 11 years and is the second cheapest stock in s&p 500 if you go to the ratio of 4.3 which says don't hold the stock forever just because it's cheap and number three a lot of investors are worried about the index here in the s&p being too tech heavy, not buffett half of the stock portfolio is an apple. >> he was a buyer of something, the mystery stock. >> the mystery stock in the company has permission to keep it confidential for now. our colleague andrew bary has done some speculation, he thin

commercials, politicians in washington sought his advice, magazines asking if he was the next warren buffett. tonight he is a convicted felon facing a possible lifetime in prison a jury in his federal case taking just a few hours to convict him on seven counts of fraud and conspiracy bankman-fried's lawyers indicating they will appeal >> my client, mr. bankman-fried, maintains his innocence, and we're going to continue to vigorously fight the charges against us >> reporter: but prosecutors whose case laid out how bankman-fried used customer money from ftx to cover bad bets from his hedge fund, buy expensive real estate, called it one of the biggest financial frauds in u.s. history >> the crypto industry might be new, the players like sam bankman-fried might be new, but this kind of fraud, this kind of corruption is as old as time. >> reporter: the collapse of ftx and the downfall of bankman-fried now putting efforts on congress's efforts to regulate the sector. >> congress can't even agree what crypto currency is let alone how to regulate it >> reporter: in the weeks after ftx's bankruptcy c

. >>> to the index, and we learned today the longtime trusted friend and business partner to warren buffettie munger, has died. the vice chairman of berkshire hathaway, buffet once said they met in 1959 and hit it off. charlie munger was 99. >>> mark cuban is leaving "shark tank." he says next season, the show's 16th season, will be his last. he says he loves the show, but wants to spend more time with his teenage children before they leave for school. we'll miss him. >>> when we come back tonight, what dolly parton just achieved, with your help. and she's not going to text about it. . she found it. the feeling of finding the psoriasis treatment she's been looking for. sotyktu is the first-of-its-kind, once-daily pill for moderate-to-severe plaque psoriasis for the chance at clear or almost clear skin. it's like the feeling of finding your back... is back. or finding psoriasis can't deny the splendor of these thighs. once-daily sotyktu is proven to get more people clearer skin than the leading pill. don't take if you're allergic to sotyktu; serious reactions can occur. sotyktu can lower you

but here howard's father, the famous investor warren buffett, is not so easy on his son's occupation.supportive, he scolds me a little when i show a photo where i go through the replacement. no field he says you know i'm not sure if you really need to do this so i think he 's a little bit worried about me but you know and sister and brother when we talk about it they're all supportive by 100% you can't criticize someone who is trying to help millions of people. the howard buffett foundation has spent over 500 million to help ukraine dollars from february 2022. since that time philan. i have visited ukraine nine times and am planning a tenth trip. i'm not kidding when i say that i'm coming back for the tenth time, not enough time in ukraine, not enough time with people in ukraine, not enough time to see what 's going on, but this is the best i can do. you have bankers, bakers, computer people, people who take up arms that have never been held before and fight for their country, i wonder how many countries in the world, including this one, my country, have done that, stay strong, you mu

commercials, politicians in washington sought his advice, magazines asking if he was the next warren buffetthe is a convicted felon facing a possible lifetime in prison. a jury in his federal case taking just a few hours to convict him on seven counts of fraud and conspiracy. bankman-fried's lawyers indicating they will appeal. >> my client, mr. bankman-fried, maintains his innocence and we're going to continue to vigorously fight the charges against him. >> reporter: but prosecutors whose case laid out how bankman-fried used customer money from ftx to cover bad bets at his crypto hedge fund, buy expensive real estate and make political contributions called it one of the biggest financial frauds in u.s. history. >> the cryptocurrency industry might be new, the players like sam bankman-fried might be new, but this kind of fraud, this kind of corruption, is as old as time. >> reporter: the collapse of ftx and the downfall of bankman-fried now putting renewed focus on congress' efforts to regulate the crypto secretarier. >> they've been unable to do it and part of the reason for that is because

warren buffett has a size of cash that's just surreal. how do you own that? >> warren buffett is probably the greatest of all time and of cash -- he is someone i want to give it to. a great set of businesses, a lot of reinvestment opportunities. >> what is the catalyst here. saying apple was going to buy somebody. you guys have been doing this since time began. what is the new thing about all of that cash the people at warren buffett holds. chris: the opportunity may be in a few years if we enter recession, markets structurally change and he is left there with a pile of cash it's harder for others. lisa: it's difficult to know what to price some of these tech names and entertainment names. will that be the story of solid revenues or will it be the hope and promise of new technologies. the former disney chair has said overnight he was talking about the potential cost reduction of the use of artificial intelligence to create animated films by a factor of 10. how do you price that out for some entertainment names? chris: it is difficult to do and one of the reas

before you go, i want to ask about probably one of the world's most famous investors, warren buffett,a really 0maha. he has been a really what he's been doing with his money. what is he up to? buffett has one of the toughest jobs in investing in that the businesses he owns produce an enormous amount of cash every year and he has to reinvest that cash to maintain the returns on the company he manages. he has been brilliant at doing this for a very long period of time but of course as the company gets bigger the investments he makes also have to be bigger. that's a great challenge as is cash piles up and he looks to other great opportunities, and a world where he is struggling to find opportunities, so he has been helped by the fact interest rates have gone up but nevertheless it's a constant struggle to try to find those new investments and that seems to be the challenge. it certainly is. thank you, good to see you, see you soon. dan kemp, who's the global chief investment officer at morningstar investment management. around the world and across the uk, this is bbc news. voice-over: bb

i want to work with warren buffett. it's an incredible story from him. row that we have seen them take money out and stockpiling cash. it also worth vomiting are typically very conservative and while we wait for the next big investment only the fact we are seeing the high value of bonds at the moment and the fact they can get 4% risk free, that's quite attractive at a time when we have the question marks. t do have the question marks. i do think we had _ have the question marks. i do think we had enough time but we covered most points! thank you very much indeed. thank you. quickly, to our website, up to christmas and our business page. look at this. parents are buying weight and giving their presence only. is this you? have let me know. is bbc news. hello there. some scattered showers around on tuesday, particularly for the north and the west. but for the vast majority of us, it was a largely dry day across the uk with some decent sunshine out there, but wednesday looking very different. there's a deep area of low pressure out in the atlantic that's goi

mark zuckerberg, bill gates warren buffett. tonight don't you attack my generalizations. >> it's in my contract. when he does generalizations please do something. obviously that's a big quote to mess up because it signature. i don't have a poster of ronald reagan on my wall at home but that's one of the things i know he said and it's a foundational principle of over public ? old republicanism they want limited government and that's why people like him so much and i guess you could say a name dropper or whatever but i think it's a very valid point to bring up there were concerns within prominent members of the black community the black agenda concerning black american voters are the core constituency and you have seen some slippage in terms of support for the biden administration and the agenda would be an issue so i don't think >> she could have emailed that. >> she was trying. she was name dropping. she mentioned stevie wonder's name five times. five times in one question. >> if you are going to spend time on the phone with so

charlie munger, the longtime vice chairman and second—in—command to warren buffett at berkshire hathaway now valued at more than $780 billion. the us dollar has hit a three—month low as investors have grown increasingly confident that the us federal reserve will start cutting interest rates by the middle of next year. the us currency dropped 0.5% against a basket of six other currencies to trade at its lowest level since mid—august. the decline accelerated after christopher waller, one of the fed's most hawkish policymakers, signalled that interest rates were unlikely to rise further and could be cut if inflation continued to slow. saudi arabia's sovereign wealth fund has taken a 10% stake in london's heathrow airport, following the decision by the spanish infrastructure group ferrovial to offload shares in the uk's main travel hub. the shares have been purchased by ardian, a european private equity group, and riyadh's public investment fund. still to come, knocking it out of the park — with global revenues set to surpass $1 billion next year, we look at the commercial success of women's

he was best known as berkshire hathaway's vice chairman and wa warren buffett's best friend.unger lived through the great depression and world war ii. i asked him what is different about the richest men then, henry ford and john d. rockefeller and now, elon musk. >> i don't think it's sure that everyone he's working on can work. i would not invest in -- myself. >> you've been impressed by what he's built? >> yes. again, that's another lesson. what is a lesson of elon musk? it is always an -- somebody who has a ridiculous amount of money, almost always has an element of luck. he's been quite lucky in what he's double down, double down, double down and then leverage so much right to the edge of extinction, maybe too many times. the age of extinction without stepping into it. he's done it three times. six more in him, i don't know. i put elon musk in a pile. i never bet against him and i never bet with him. >> that file is a list of things that are too hard to figure out. he -- charlie munger said he and warren buffett had an awful lot of luck in what they were able to accomplis

i don't know if out there tonight and if you are watching, warren, i don't know if warren buffett has if he is, shame on you you shouldn't be taking the money. >> we should limit benefits on the wealthy. limit the benefits on the wealthy. expand medicare advantage plans. >> if we tame the tiger, the way we do it is not by picking on senior whose p we do it is not by picking on senior who who paid into the program. you have to grow the economy >> joining us is marc short. former chief of staff to mike larry pence. marc, it has been a while. good to see you. we had your former boss on a number of times where he has not only touched the third rail, but jumped on the third rail and has been talking about evntitlement and social security reform he is not in the camp of wanting to address that. you can hear the candidates still are in denial that we need to do something. >> joe, reality is it is not a choice we are $33 trillion in debt. 74% of debt today is driven by mandatory spending and annual def deficits we cannot hide and pretend the problem doesn't exist. within a few years, you will

be warren buffett, dude.make your money in your 60s. who cares?night success because when you'rean overnight success, what happensafter that? - mmm. this might soundreally, really crazy, but what i've donewith my portfolio in crypto these past fivemonths, i know i'm set for life.i just have to hold. dead ass. sir jackalot:who says a stock price has to be calculatedbased off cash flow? i mean, it's just what peopleare willing to pay for it. and again, what's morallyor ethically wrong with that? that's just the game. [music playing] (singing) there once was a stockthat put to sea. the name of the stock was gme. the price blew up and theshorts dipped down. hold my bully boys, hold. [grunts] soon may the tendieman come to send a rocketinto the sun. one day whenthe trading is done, we'll take ourgains and go. she had not beentwo weeks from shore when ryan cohenjoined the board. the captain called "allhands" and swore he'd takehis shares and hold. [grunts] soon may the tendieman come to send a rocketinto the sun. one day whenthe trading is done, we'll t

warren buffett's berkshire amassed a big stake in the driller adding to the position a few weeks ago. berkshire owned 25% of occidental. >> i want to toss over to diana olick with the look for earnings of dr horton. >> they have a big entry level line of express homes. they are the ones to watch to see how badly higher morntgage rates are playing into the market. the company's stock is positive year to date and surged last week when mortgage rates plunged. take a look at rates during the quarter reported. volatile, but generally going up. the 30-year fixed in the 6% range briefly, but well into the 7 range. comments on rates and buydowns and incentives and how that is hitting the bottom line of horton. another metric is cancellation rates as some may not qualify for a mortgage when they first signed the deal. frank. >> we are now joined by jay from kbw to discuss horton. >> thank you, frank. >> what do you expect from the report? >> thank you very much. we rate the shares market performance have a $142 price target. we rate the shares of market perform on valuation and we would be inc

. >> it is not a great signal for the markets because warren buffett, one of the most or the most famous investor is struggling to find value in the current market. the cash pile is sitting near hundred $60 -- $160 in the latest quarter. struggling to find the acquisitions has been a pretty interesting couple of years for berkshire hathaway because they have held back from the pandemic by than over the past few quarters we started to see them i turned back into the markets, key transactions like buying up shares of petroleum for instance and then they had $4 billion deals which was an insurer. now the latest quarter that came out is that cash pile and that lack of ability of where the cash is, that is showing up and some analysts are saying they can feel the pressure and put it to work, where it is now, the cash flow, a couple of key places, a lot of it is parked in the or for data security, and they have continued to put more money into buybacks. they have spent more than 1.1 billion dollars on buybacks in the latest period and that brings the total for it sharing purchases into around

reported earlier in the show it is a filing season for a big string of money names including warren buffett the previous quarter shows that berkshire hathaway exited, sold its stakes in general motors, trimmed the holdings in exxon, hp while the investment in apple remain unchanged. they are the largest individual investor of apple shares. as berkshire keeps its finger on the tech sector our "countdown" closer is picking it out as well. horizon ceo scott ladner has a name you feel is a real opportunity for investors. scott. >> hey, liz, thanks for having me. as far as the tech sector go it may not be the play into the end of year. you might want to get cute to the end of year, small caps at the end is the pain trade in the market. as we turn the calendar in 2024 tech is definitely the place you're going to want to be. this will be large gets larger type of trade, sort of like the internet productivity boom from 25 years ago, small players like amazon could really flourish. this a.i., quantum computing boom over the next 24 months will be dominated by names everybody knows, googles, amazon,