the berkshire hathaway shareholder meeting and warren buffett holding court and fielding questions from share h h holders for several hours. stock jumped due to insurance un underwriting. buffett trimming the stake in april by 13%. buffett said that was for tax reasons. warren buffett said they would like to spend the cash, but has no plans to do so, unless there is an opportunity to make a lot of money. >> i don't think anybody is sitting at this table has any idea of how to use it effectively. therefore, we don't use it and we don't use it now at 5.4%. we wouldn't use it if it was at 1%. don't tell the federal reserve that. i prefer it. we only swing at pitches we like. it isn't like i have a hunger strike or something like that going on. it's just things aren't attractive and there's ways that can change. >> warren buffett praised jay powell for his work steering the economy, but the fedneeds help from congress to help with the deficit. we have aneka treon and barbara goodstein with us. good morning. barbara, i'll start off with you. i'll get your take. the berkshire hathaway sh shar

warren buffett is running through berkshire hathaway requires cash pile. just want to mitigate a little bit the absolute number. all investors are facing the fact that yes, cash is very high and this is on a relative basis. this is the main concern on the equity side why we are not seeing much more than current levels. >> within your notes, you are f focused on geopolitical risk. where are we seeing the geopolitical risk right now? we are seeing wti below $80 a barrel. when you are looking at the geopolitical risk in the market, where should investors look at that risk and how should they respond to it? >> i think oil prices are not at the risk premium with the oil demand and supply. we like to find some of the opportunities standing from geopolitical risk. one is the east/west divide. china traveling to europe this week. there is a big shift. there are winners with vietnam and mexico. we are trying to find winners of the current tensions we are seeing. these are examples related to reshoring or near shoring which is benefitting from the geopolitical shift

saying greg abel won't have the same freedom as warren buffett. >> warren is the greatest of all time individual and chairman. by definition, greg won't have the same freedoms. i think, importantly, berkshire hathaway has been going beyond any individual. it's a culture of ownership and being straight with investors and owning great businesses for the long term that will go on beyond warren. >> all right. berkshire hathaway has about $170 billion in cash. are you expecting to hear how they plan to deploy that cash? >> well, you know, you mentioned earlier the mystery stock. i don't know if we will hear any news on that this weekend. that is probably no more than a fraction of the cash award. i wouldn't expect something like a dividend any time soon. it's difficult in this market to find targets. perhaps warren will. i'm should he'll be asked about it. >> he will be asked about apple. coming off earnings right now and apple is 41% of the portfolio. the company holds $157 billion of apple stock. what is the view of berkshire and apple? >> this is about $107,000 per a share which is over

what we heard from warren buffett over the weekend. fed president also will be says the latest u.s. jobs report gives him comfort that the economy is not overheating, but when it comes to rate cuts, he says he needs to see more data confirming inflation is under control. >> 175,000 is a very solid report. some of the root of our frictions here might be, there is kind of a day trader's timetable and there is an economic timetable. for setting monetary policy, of course, you have to take a longer arc view on inflation and employment. we are trying to figure out after the excellent dual mandate performance of 2023, where inflation fell almost as much as it has fallen on record, and it did so without a recession. how much can we continue that into 2024? we had a bump at the start of the year on the inflation front. now everybody has to take a step back and figure out is that a sign that the economy is overheating, or a sign of some other thing? the more jobs reports you get like this, where they are solid, but clearly moving back into some

warren buffett made news. it came out when the company's 10 q hit. people were looking to see it and it trimmed stake in apple by 13% in the quarter. it sold about 116 million shares. a lot of questions as to why and what it means. apple is still, by far, the largest stock in its portfolio. it makes up 40% of the overall portfolio. buffett said he was selling because he wanted to raise cash. he was asked specifically if he sold it because his view on the stock had changechanged. he said no. he was raising cash. he said part of the sale was for tax purposes. >> we don't mind paying taxes at berkshire. we are paying a 21% federal rate of the gains we're taking in apple. that rate was 35% not that long ago and it has been 52% in the past when i have been operating it. the government owns -- the federal government owns a part of the earnings of the business we make. they don't own the assets, but they own a percentage of the earnings. they can change that percentage any year. the percentage they've decreed currently is 21%. i would say with the present f

these are issues that warren buffett was direct about in his annual letter to shareholders. laid out the disappointments they have seen. bnsf was a disappointment on earnings. earnings dropped significantly from a year ago. buffett laid out how its railroad has fallen behind the other five major north american railroads in terms of margins. he talked about bhe. berkshire hathaway energy. the major utility company berkshire hathaway owns as well. laid out the issues on the regulatory front with the western states. major fires there, liability issues that come with it and questions raised by regulatregu. all of those things raising questions. we will talk about those issues. the other major thing is litigation for real estate br brokers. berkshire hathaway did not participate in the litigation that was settled. there were questions about that. a lot of meat to chew over. we have guests today and the ceo from the portfolio companies. oriental trading, brooks running and pilot and bnsf. we have mario ganelli and we have questions to throw out about how the board is looking at th

warren buffett doing the same thing.ow have you interpreted a company such as apple's results and the growth trajectory of a business like that? >> apple is a consumer utility, and one of the things about apple is they have been slower in adopting this ai cycle. the hope is that at some point they will catch up and be a fast follower, which we strongly believe they will, but in the near term, there are other companies more immediately investing in and procuring ai type revenues that is propelling growth. caroline: ok, let's talk through some of those names. we heard from alphabet, amazon, meta. are they building the reward in return for that investment from your perspective? ankur: absolutely. it is the number one thing we have been looking at through the earnings season, capex, how these committees are spending their capex. we expected them to have a big capex number through 2024, and they are even talking about 2025. this to us is the leading indicator of what is to come in ai because they would not be building this ca

obviously bonds are massive buyer of treasuries, what is warren buffett think about the prospect for yields from here? and then just the overall economy, whether it is the railroads, or the energy business. >> josh, i think you always have given such thoughtful commentary around mr. buffett and berkshire, you've been a shareholder for a long time, just what that firm has meant to you as a shareholder, i think it has a special place in how you formulated many of your ideas around how to be an investor in stocks. >> i really appreciate hearing that from you, scott. we have been talking about the markets, you and i, for 12 years now. i'm glad that you've observed that from me. and i absolutely agree. i think of some of buffett's most well known ideas such as my favorite holding period is forever, and then i think about how i try to apply that with what i'm doing. if somebody had invested 1,000ed in the s&p 500, in 1965, they would have $300,000 today. that's an incredible return. if they had put that same thousand dollars in berkshire hathaway, on the same date, they would have 42.5 mil

i am not going to disagree with warren buffett. he has his own strategy that has worked brilliantly, but we like apple here. i know he does too, but i think you just want to hang on. manus: let's talk about that area of agreement, apple. everyone will focus on him trimming. maybe it was taking some profit, tell us about your faith in apple now. his comets were interesting after apple earnings. >> we had been trimming over the last five years because destocked got to an outsized position. as i wrote about, sometimes you think you are doing the right thing as a portfolio manager but you need to hang on, so we view apple as one of the stocks you can own for a lifetime, not just because of fundamentals but because with the commitment to buybacks they put a floor under the stock price and the latest announcement is supported by free cash flow, so we think you on this stock for the fundamentals, less overgrowth, but it is the defensive name now and we consider it one of our defensive holdings. that is why we continue to own it. katie: th

look at warren buffett and what he is doing.ooking for opportunities for value in an environment where they are fairly rich. to liken that to say what individual investors should do is just the ultimate apples to oranges comparison. i think for individual investors caches very personal. especially given the chart you showed us in 2006 until the recent move up, so much of that time was in an environment where you have little to nothing. risk tolerance and investment on income in a safe fixed income side from treasuries makes a lot of sense. the desire is to grow the principal. i would not do that comp to any message and brookshire hathaway and transferring that to what they should deal. >> before i let you go the title of your piece last week was life is good and something to the effect it is even great for large names. it is amazing. it is like gas be like for the large-cap mega cap tech names. here we are again today. supermicro. then you have amd advanced micro the thing is, it feels like when it is time to go through the foxh

me about warren buffett, he said that they are under taxed. that is something the president agrees on. he believes that if we can do that, tax corporations and billionaires, that would pay for his investments in america and cut the deficit by $3 trillion. that is something the president has been clear about from day one. >> one more thing on china and the terrace coming. july 2019, candidate biden said terrors are an abusive policy. as the president changed his mind? >> i will be really mindful. in due order you'll hear directly from the present, directly from us. i don't want to get ahead of that. jake said it well when he was here. we've always had concerns on china's unfair trade policies. we've been very clear about that. the last administration, when they did a trade deal with china, it failed to increase american export or boost manufacturing. that is not something the president wants to see. he's been doing the opposite, making sure american manufacturing is created here in america. that is something he has been very focused on. he says

this is exactly the kind of market that warren buffett should thrive in theoretically?alternatives. charlie munger, i got to see him in september, so he made the point that few people underestimate how size is important for him, something that moves the needle, and doesn't get caught up insmaller positions. they need these kinds of big positions. it's not clear how many stock stocks can move the needle like apple. >> if i had a had 3%% in any one name and another six stocks probably would make up in the balance, because you add in chevron, axp, whatnot. i think the concentration is the risk we're probably all getting to. how about a dynamic, where there are other megacap stocks that probably will be apple-like? microsoft certainly, the cash flow generation certainly -- here we are speculating as to what could be the next investment committee. do you think they're talking into other high-capacity stocks that could fit into a economy that is frankly has become commodityized. >> nots it could be one of his riskiest investments. i don't think they're reconsidering this inve

warren buffett's berkshire hathaway reveals chubb is the mystery stock.er worth $9 billion. >>> rival insurer aflac is taking a take in treeline partners for $100 million. as part of the deal, aflac will give treeline some cash it collects through insurance premiums. >>> palo alto network is buying security networks from ibm to provide access to a wider customer base. including the cisco $26 billion purchase of splunk back in march. >>> and microsoft is asking hundreds of the employees in the china a.i. division to transfer outside the country. the move comes as tensions with washington and beijing around the technology continue to accelerate. >>> and caitlin clark bringing up the temperature with the indiana fever drawing in 2 million viewers during her wnba debut against the connecticut sun on tuesday. that's the largest wnba broadcast audience in two decades and the league's biggest cable audience ever. >>> here's what to watch today. economic data out before the opening bell with jobless claims and housing starts. we have earnings from under armour an

end of 2024 and humanitarian assistance for ukraine the eponymous young son of billionaire bu warren buffetterves as a director of berkshire hathaway has visited ukraine 11 times since a full-scale invasion began howard buffett who is also a lifelong farmer joins us now in a fox business exclusive that's a pretty powerful, by the new york fed president when he blamed sticky inflation on how much of that has to do with the indirection in the fermis of wheat, soy and corn. >> i would agree 100%. if you look at the beginning of the invasion at the time in 2022 it only took a few months call to drive basic food africa by almost 50% and obviously you can't recover from someone who is a major exporter of corn and soybeans and barley and wheat there is no way you can't turn that around right away. in terms of his comments i would agree 100%. >> people need to understand ukraine the soil is the best on the planet for farming that were showing video of missiles and weapons russian missiles and weapons that have cut huge holes into a huge part of the farmland and contaminated it. it's incredibly dange

why would they settle for warren buffett?> but of course there is a big question as well as not just succession planning but also how they plan to spend the enormous cash pile because that grew in the latest reporting period and still, it is not being deployed. >> exactly. yet again, it hit a record at 189 billion dollars. and buffett explained that they just cannot find the kind of needle moving acquisition that they want to spend significant amounts of capital on and remember, buffett is known for these big-ticket deals but he's been struggling to find them in recent years and of course, the cash pile is thus built up. he actually said on saturday that in this uncertain world where geopolitical risks are bound and we are uncertain about the trajectory of rate cuts and inflation remains high, he is actually quite comfortable holding that big cash pile and he also said that if in this world that is more sort of complex and intertwined, more things can go wrong and this cash pile, having that already available in these situati

about that, charlie, though, let's talk about warren buffett as a bank because back during the financialy goldman sachs with a five billion dollar cash infusion on very helpful terms to buffett by the preferred shares. he made 3 billion on that deal. >> what was the line he gave you? he gave you the greatest line about that and i'm going to butcher it, didn't he say he made like a million dollars a minute on that deal. liz: something like that. >> something, by the way, that's what he is, if this does happen, you know it's going in that area they're going to do a preferred stock deal where it is a no-lose situation to him because he doesn't give his name to anybody. liz: we will say, we don't know what buffett will do, he has more than 70 companies under his umbrella, two very, excluding netjets a private organization, but he owns flight safety international which trains pilots. >> right. liz: he also has precision cast parts, he owns that outright, which makes metal parts for a lot of aerospace world. >> absolutely. let me ask you this, liz. let me interview you for a change. liz: uh-oh

speaking at the company's annual meeting, warren buffett announced the vice chairman, greg abel, at thel take over the company in the future. the 93—year—old legendary investor also announced his firm sold its entire stake in paramount global at a loss and cut its investment in apple by 13%. telecommunications company optus has appointed a new chief executive effective from november. stefan rue currently leads australia's national broadbound network. he will take on the role at optus, the australian unit of singapore telecommunications after its previous boss resigned following a massive network outage. qantas says it has agreed to pay a penalty of around $66 million to settle a law suit in the country. australia's competition regulator had alleged that after the pandemic, the airline illegally sold thousands of tickets for flights that had already been cancelled. as part of the settlement, a remediation programme will also be created four customers affected by the cancellations. that is expected to cost qantas an additional $13 million. now, in a few hours' time, we will learn how indo

i think it's really well positioned and then you hear about warren buffett over the weekend talking about a.i. and how there's going to be -- there's a.i. increases the risk of scamming and i see this in a normal everyday life all the time, the risk there i think having exposure in the space is extremely important, and then we talk about crowdstrike more specifically, they have beat earnings -- eps and revenue -- oeight of the las quarters i'm excited to be an owner of crowdstrike now. >> interesting you're joining the club, so to speak. josh brown, you've been in this name a long time what do you make of the move right here >> well, i obviously agree with it i've been long this name since the summer of 2020 it's up 400% it is the best performer of the larger cap security names. i believe that quality in the space matters. i don't think there are going to be ten relevant companies for very much longer, because if you're a fortune 500 company or you're a large governmental body or a municipal agency, if your reputation is on the line, ultimately you will end up choosing the highest quality

jonathan: hasn't warren buffett been holding too much cash for a long time now? marc: i don't know.as looking at a study of 70 years of stock market performance and how many stocks the u.s. market was outperformed by. i'm not so sure that this is too much cash. i know that people like myself are for the first time buying from fixed income and taking are my out of the banks which are paying is hardly any interest rate. jonathan: great to catch up, it has been too long. what it would take just at the end to unlock some of the cash in money market funds. payroll on friday, $175,000. that with the smallest gain. slowest pace of growth in nearly three years. i think a few of us were distracted by payroll, but services really disappointed. the sector unexpectedly contracting in april for the first time since 2022. four year low, measure of input costs moving in the wrong direction. friday wasn't a great day for economic data. annmarie: i don't want to say the s-word, stag. i don't see stag and i don't see flation, so stop kidding yourselves, but there was that feeling of slowing growth wh

coming up, warren buffett issue ago big warning about artificial intelligence.e's comparing that technology to the awetomic b omber. saturday night live taking aim at anti-israel college protests roll it. >> like a rabbit having it in class. let me find out she's in one of them damn tents instead of the dorm rooms i pay for. not talking about free this and free that. i tell you what isn't f ree: collum columbia. i tell you that. stuart: joe concha having more on that after the break. ♪ stuart: two hours worth of business and big gain in horning in the nasdaq and up 104 points. got it. now, big tech all over the place but mostly higher this morning. i do have alphabet and apple on the downside. me taxer microsoft, amazon small gains and meta up $6. bitcoin, where are we now? $63,385 per coin. tonight is the met gala and one of the biggest nights in f ashion. why is this year's event so controversial, lauren? lauren: tiktok is sponsoring it and very strange fellows and the elegant editor of vogue and the fashion magazine and it's embarrassing a technology company.

speaking at the company's annual meeting, warren buffett announced that vice chairmen greg abeland ajitjainany in the future. the 93—year—old legendary investor also announced that his firm sold its entire stake in paramount global at a loss, and cut its investment in apple by 13%. in a few hours, we will learn how indonesia's economy performed in the first three months of the year. the country is in the midst of a leadership transition, after prabowo subianto was declared the winner of its elections in february. for more, let's speak to euben paracuelles from investment bank and brokerage firm nomura. he believes we will likely see growth of around 5%. i think we have to look a bit more into the details, but because there is still a bit of unevenness they are. we are expecting goods exports to see growth, which is kind of moderating a little bit, probably because of china, but there are some offsetting factors that will boost domestic amounts, in particular private consumption should hold up, but also government spending should do well — this is all because of election related spending tha

and who better to emulate than warren buffett. in honor of his annual shareholder meeting, this will be a brookshire addition. with us is the chief investment officer. up first, apple, it showed the value of the stock holding was down 22%, but he said he's not bailing. he did sell for tax reasons shares of apple are down. >> for me, we bounced off the 165 level and i think you have room to run to the 0.02. right now interesting how far off the high-frequency data in cell phone sales were down 20%. it was not that bad. they have an event tomorrow and relaunching the new ipad. it's been two years since they've had a new one. and they finally figured out that maybe they should care about ai and introduce more features. i could see much faster replacement cycle this fall assuming they come out with new models investors want, which is a solid assumption. >> what about paramount global? this is when he said he took a loss on it. shares of paramount are up 3%. what is your take?>> i think you will be jerked around with the news. i think

. >> warren buffett, 6. $7 billion stake in the company, 26 million shares, berkshire hathaway's ninth largest holding, stocks up 4% as a result. what is buffett's strategy? selling consumer names and buying an angel insurance, steady source of capital. might be considered like adam johnson. stuart: what about wayfarer? lauren: they opened up large brick and mortar stores, stock is up 3%. why would an online company be opening brick and mortar? the pendulum swung too far. when it comes to home decor and home-improvement shoppers want to see things in person, there you have it, online company opens their first brick and mortar. stuart: you've got to sit on the couch before you buy it. canada goose. >> major recovery in demand, 23% gain on stronger earnings report and the stock is down on the year. nice recovery today. stuart: thank you very much. speaker johnson said new york city is helping biden's lawfair strategy, a large area is being blocked up to give trump supporters a way. resident biden agreed to face-off and two debates before the november election. rfk junior says this underm

>> jamie diamond and going at these -- jamie dimon and warren buffett on these hundreds of billions of cash and can't find a place to invest it and that can be a real confusing message for people at home. warren buffett has been negative on the markets for the last five decades and fully invested and worth over $100 billion personally investing at that time and anybody watching at home and shouldn't listen to headlines and time the market as well. people should be investing in the markets and he shows you that it's too high. stuart: that's your point. always be invested in the market. >> yes. stuart: trying to time it, just do it. >> the side piece is the mistake people make is they hear something like a jamie dimon and i'm not going to sell. if they do sell, it may correct 5%. 10% before it moves to more new highs and going today and you see a lot of individual investors and no time or try it. stuart: earnings report and the department store and one of the performances of the consumer. >> the consumer and the earnings number and the consumer is out there and spending money and the con

is warring kitty the internet's warren buffett? the man you see there.an who started the meme mania back in 2021. my opinion he is no warren buffett but i would say his influence right now is. he resurfaced monday taking a three year break and a doubling of names like game stop and amc monday and tuesday. these names and many others are down sharply today. but the 2021 retail online small traders who stood up to the big hedge funds who were shorting their stocks are still doing that. the difference is now they have a lot more experience. >> the institutional investors have access and always had access to better stuff, more information, the fact that retail guys can take a hedge fund down, i think it is awesome. >> that was then. three years later. these retail traders are moving in and out of different stocks. reddit, trump media. djt moving allot. it seems like two big days of gains on the back of those posts online from roaring kitty is over, at least today. we'll see about tomorrow. >> dana: the best new haircut in the building. >> thank you. >> bill:

>>> we had the latest round of 13 f filings in the united states with warren buffett's bertha berkshireway confirming that the $6.6 billion bet is on the insurance grouped chubb. that has driven the share up 10% in the pre-market. and alibaba and starboard value is sticking to its guns on go daddy. leslie picker filed this report. >> reporter: chubb shares spiking after the revelation that berkshire is the long awaited mystery pick in the 13f filing. berkshire hathaway disclosing that stake of $6.7 billion at the end of q1 which is 25.5 million shares. we have been tracking the position in q3 and q4, but the s.e.c. decided to give the furthfirm a waiver to keep it confidential. we learned the mystery name is chubb and the ninth biggest holding for berkshire hathaway. not so interesting is the berkshire stake in paramount. warren buffett said it did sell the entire stake at a loss. 8 t 88% of that was pared back in the first quarter. berkshire sold hp in the first quarter. not big by berkshire standards, but noteworthy. other news is selling 500,000 shares of building materials louisiana

we'll go deep into the archives and glide benefits annually from the famous warren buffett auction, theerous donation that was made by this year's winner. >> what was going through your mind when you received that appraisal? that was far lower than you expected it to be, and a little later, abc seven news ch julian glover takes another look before, williams was the long time leader of san francisco's glide memorial church and established a legacy of being a champion for civil rights and helping the poor. his decades of work is now available for viewing at the san francisco public library. abc7 news reporter tara campbell got a look at the impressive archive planning meeting in 85. >> the gloves are on and a legacy is preserved at the san francisco public library's main branch, one box at a time. 50 to be exact, chronicling the life of civil rights activist reverend cecil williams and his work at glide memorial church. >> we're very excited to have this collection because it documents this major institution that really broke barriers serving vulnerable people in the city. >> decades of d

stuart: and roaring kitty isn't a bit like warren buffett. lauren: i agree. coming up, hunter biden's federal gun trial begins next month if after the judge refused to delay it. how's this all going to play out? we'll ask former florida attorney general pam bondi. >>> president biden moving forward with planses to send a billion dollars 'of weapons and ammo aid to israel. is this a shift in president biden's attitude or policy towards israel? if victor davis hanson shares his insights after this. ♪ daughter: hey, dad. dad: hey, sweetheart. daughter: what are you doing? dad: i'm gonna clean the fence. daughter: it's a lot of fence. dad: you wanna help me? dad: aim at the wall, but get closer. daughter: (gasps) what the?! daughter: alright. dad: side to side. when you work with someone who knows a lot and cares even more... you can do this. ...you're unstoppable. (♪) wow... are you kidding me? you can do this. at truist, we believe the same is true for banking. before planning the big trip you were limping thanks to a bad knee. then, you heard about mako roboti

warren buffett himself made aid of that. he said another is likely to take over. the agm. the other part is berkshire hathaway has cut out 13% of its stake in apple. that was a significant portion to look out for. a little worried about where apple goes from here but trusting the process. also divesting completely from paramount. that company is at the helm for a possible takeover from sony. and that was sold off at a loss. that was the main three items. >> arabile gumede live from london. thank you as always. >>> still ahead, cia director william burns is likely to travel to israel for more cease-fire and hostage negotiations. we'll discuss his high stakes meeting with prime minister benjamin netanyahu and whether a deal can be reached. that's next on "way too early." that's next on "way too early. r child. get in. listen, what you really need in life is some freakin' torque. what? horsepower keeps you going, but torque gets you going. what happened to my inner child craving love and acceptance? how about you love and accept this? p-p-p-p-powershot! when can i dr

for me, you can bring in warren buffett to be ceo, and this company has structural problems. and it's so saturated. the coffee market has so many more quality kcompetitors. even if you think about it, starbucks was the end all be all. now you have dunkin who's focusing on coffee, and mcd mc mcdonald's, and you have other companies and tim horton's. they have 39,000 global stores or something like that. how do you grow money if your consumer can't pay more for coffee, and there's a lot of competition at reasonable prices making it hard. i can't do it. >> there's your three buys and a bail. victoria greene, great to get your thoughts. have a nice weekend. >> thanks, dom. >>> that does it for the exchange. before we go though, check out shares of goldman sachs hit a new record high from their recent lows back in october, and speaking of banks, don't miss our interview with citi group live from the institute, the global conference that's happening on monday. that's going to be right here on the exchange, 1:00 p.m. eastern time. "power lunch" is up next. leslie picker is getting r

we don't know why but is warren buffett cutting his holdings of apple. >> the prior quarter by 1%, nowkshire's biggest holding worth $140 billion but two times in a row he slashes brookshire's holdings of apple. with that we see the cash on hand for berkshire hathaway searched almost $190 billion that is a record, this would be bad news why does he have so much cash on hand maybe he does not know what to do with it, is that a bad sign for the market here on out? in the quarter you can see the stock is up great numbers earned a record 11-point to billion dollars a lot of strength in business at geico. stuart: he would've cut his holdings if he thought it was going to go up more from here, that is why apple is down a little bit this morning. >> he made his money, he walked away from the looks of it. maybe he think they can make more money elsewhere with the money he takes out of apple. let's look at the quite this morning i was looking earlier 63000, it's on the upside, ticket the crypto stocks are up and running. >> break point started its rise after the soft jobs data its continuing ov

i think warren buffett sees the disparity, sees that you have a company that's so inexpensive, how canot own it? what can i say? how can you not own chubb? that's a great buy here. >> it was one of the interesting tidbits coming out last night. we knew about the apple trim. we got others like third point buying some mag seven and others. >> we've got dave tepper selling some mag, and i want to mention that a lot of these times, i always feel like i have to say this, that by the time you see these things, they may have changed. i know that there are very few people like warren buffett who take a position, and they get loud through the filings and don't leave, and then there are other people who get loud on tv and leave. so, i always take these with a grain of salt. but i thought the chubb buy was really well played by buffett. that's a very hard stock to buy. it's very illiquid. and it shouldn't be, but remember, it's only up 12% for the year. if people want to go in and say, i want to buy what warren buffett buys, occidental did work, even though it seemed like the balance sheet wasn't

>> it's incredible, even warren buffett like bailed out and lost a huge amount of money on this, showingen you think something is incredibly cheaper, it can get cheaper, paramount has the opposite problem, it does not have scale in its existing configuration, it has to either merge with somebody, it's going to help it get there, or it's going to have to get out of the streaming business, in my view, which is huge, going to be a huge loss. >> is there a deal that makes better sense to you of the two that are being discussed? >> well, there's no question, that to merge with an existing competitor, a horizontal merger, like sony, is going to offer competitive advantages no stand alone buyer can match. on the face of it that looks better. on the other hand, they've got to offer sherry redstone a premium, she's the controlling shareholder. she deserves a premium. has more valuable shares and they have not yet tipped their hand. i still don't know how real this bid is or how serious it is until they unveil how they're going to break down that price for the share, the controlling shareholders a

want to shift gears and ask you about the great mystery of the week on wall street are concerned warren buffett> we got news about the ministry stock that bursts under brookshire hathaway has been accumulating they requested confidentiality for the end of last year basically we found out what that stock is in brookshire has accumulated 6% stake in the big property cash with about $7 billion. buffett has been selling a lot of stocks in the last quarter he was trimming apple and getting out of hp and paramount but it's a business he knows very well in brookshire has been involved for 50 or 60 years and is probably the best run most profitable leader in the pnc business. >> will he buy the whole enchilada crymac that's an interesting question i think you might like to buy a and is an elephant size acquisition that he's been seeking in vain and it valued $100 billion in brookshire has 200 billion of cash to play with and i think it be a good strategic fit for brookshire to make financial sense. is he interested in is seller both companies won't comment but intriguing confidentiality he turns 94 in

. >> this is blockbuster courtesy of warren buffett and short-term treasury bills like equivalent currentlyout 5% and you get a little nice tax break because interest is exempt from state and local taxes and you could buy it through treasury direct or an easier exposure like bil. >> i'm a gambler i might go for the two-year and get five plus percent as well. >> this guy back from vegas. >> another buffett pick although we picked up 40 or 50 years ago. >> a larger gain to sell if he wants to but i'm looking at coca-cola the stock is on the move which kinda surprises me because at this date stock again 1.8%, staples are doing well, it's gotten a boost from its earnings where it shows strong organic growth, up 11% when the consensus was 7% in the worries that the dollar is too strong, coke does a lot of business outside of the u.s. but if the dollar stop goes we up it becomes another tailwind for coke, i would expected to keep making a run it's almost a year so i'm just going to say hey, have a coke and a smile. >> unlike buffett is this a trade or hold forever. >> not a lot of growth. >> it's

and i don't own things for 20 years, and i wish i was warren buffett, and we did cut that position andsitions in late march. i just need a break. we have had -- we have had a hell of a run, and a lot of what we recognized has become recognized by the marketplace now. we expected powell to come back and repivot, which he subsequently did no, long-term, we're as bullish on ai as we ever have been if we were sitting here in 1999 talking about the internet, for anybody who was talking about it, i don't think anybody would have estimated it was as big as it got in 20 years we didn't have the iphone or uber or facebook, yadda, yadda and yet if you bought the nasdaq in '99, it went down 80% before that all came to fruition. that's not going to be ai, and it could crrhyme with all the capital spending we are going to do the big payoff might be four to five years from now, and ai could be a little over hyped now but under behind long-term >> what you just did with nvidia, that's what buffett did with apple, and he thinks tim cook is great. >> yeah, well, i will be very surprised if i don't own

i think about what's going on in the evs, and i'm hard-pressed to think -- if i was warren buffett, i take $100 billion and invest in spacex, because to me, that's still a very untapped -- if you believe in what elon musk is able to do in each one of these verticals that he's basically applied his, you know, his know-how to, i think the tesla story is much less interesting, and, again, a lot of investors, you just look at the valuation of tesla, some of the other companies, they're really making a bet on him. i would rather bet on him in space and starlining and these other things than tesla right now, because, you know, berkshire's made their bet on byd. they think why that is going to be the market. and i don't know about you, but elon didn't give me greater confidence about them doing a mass market car, so, again, not something i think that berkshire would do any time soon. >> ah, yeah. i tend to agree. i'm actually surprised that he suggested he might, or should, invest in some of the others. kudos to you in finding a way to create an alliance between the two of them. i don't thin

american businessman and close financial friend of glide memorial church warren buffett, paying tributeo a pioneer. people from all walks of life coming together to honor the late reverend cecil williams. williams died last month at the age of 94. >> during the course of his trailblazing lifetime, he fought for the poor and the hungry, founding glide church and turning it into a worldwide brand. the church he founded 60 years ago was standing room only for his celebration of life yesterday. >> i was a person who grew up in the bay area and, you know, as a as a gay young person, it was really wasn't. okay. and, cecil just, shared his liberation theology with me, and it's been with me all my life. >> community members and local pioneers joined together to honor the legacy. reverend williams left on the city of san francisco. his activism reached beyond the church doors and even the city. reverend williams was recognized as a national leader who stood up for social reform and civil rights. >> cecil's essence and his love, his teachings, his way of living life ripples out and continues to i

just one of the big names in the service that featured leaders, locals, even warren buffett. abc seven news reporter cornell bernard shows us the fitting tribute to the man who created social change >> it was standing room only inside the varied church reverend cecil williams founded 60 years ago in san francisco's tenderloin, a place which quickly became a movement. >> everyone who walked through that door found love. love because cecil knew love is the answer. love. i chose to come down and hear him. >> this celebration of life for reverend williams brought people from all walks of life together, much like his ministry. >> cecil's essence and his love, his teachings, his way of living life ripples out and continues to impact every person he touched with his presence and his vibration. >> the outreach programs williams founded with his late wife, janice mirikitani, have helped the city's poor and homeless for six decades with limitless outreach. the line to get into sunday's service, stretching around the block. mark pearson says he gladly waited hours. >> i was a person who

find out just how much someone paid in the famous warren buffett auction.ps the foundation, those stories and more tonight on abc seven news at 11. well, before we go, one last look at those stunning northern lights overnight from around the world. we do have another chance to see them tonight through. the solar flares, though. aren't going to be as strong. the noaa space weather prediction center says several more coronal mass ejections are expected to hit earth tomorrow, which could intensify the aurora in the days to come. i don't know all that scientific jargon. it's just going to be pretty exactly because they-finally-did-it. happens. (♪) ( ♪ ) you made a cow! actually it's a piggy bank. my inspiration to start saving. how about a more solid way to save? i'm listening. well, bmo helps get your savings habit into shape with a cash reward, every month you save. both: cash reward? and there's a cash bonus when you open a new checking account to get you started. wow. anything you can't do? ( ♪ ) mugs. ♪ bmo ♪ thinking i should bring back my 100% all-white

warren buffett has hosted the luncheon the last 21 years, raising some $53 million. has now passed the baton off to benioff. the auction ends on may 10th and the starting bid is $25,000. a little rich. >> oh, it's an expensive meal. >> yeah, this long to get put on the shelf like a porcelain doll. if you have postmenopausal osteoporosis and are at high risk for fracture, you can build new bone with evenity®. ask your doctor if you can do more than just slowing down bone loss with evenity®. want stronger bones? then build new bone; evenity® can help in just 12 months. evenity® is proven to reduce spine fracture risk by 73%. evenity® can increase risk of heart attack, stroke, or death from a cardiovascular problem. do not take evenity® if you have low blood calcium, or are allergic to it. serious allergic reactions and low blood calcium have occurred. tell your doctor about jaw bone problems, as they have been reported with evenity®. or about pain in your hip, groin, or thigh, as unusual thigh bone fractures have occurred. don't let a break put you on a shelf. talk to

the service included video messages from governor newsom, former house speaker nancy pelosi and warren buffett. >> the san francisco giants shared some warm messages for their moms this mother's day. >> love you mom. thank you for, packing my lunch every day. thank you for reminding me that it's always better to be a good person than a good player. i love you and miss you. >> hey, feliz la madre especialmente a me mama. te amo, te extrano. gracias por ser esa madre. ejemplar te valora mucho te estreno y la deseo. un dia phenomenal a todas as madre hermosa. se han dado la vida por su cielo at tiro de mom. >> thanks for being my number one fan. >> outfielder michael conforto also shouted out his wife cabernet as she celebrates her first mother's day. >> yelp has a new list of the top 100 barbecue spots in california. one of them is on the peninsula redwood city's cappello's barbecue made the list at spot number 33. they're known for their steakhouse quality meats cooked on rotisserie smokers with oak wood, and the reuben sandwich also gets high praises for being the perfect combination, they say