markets are at an all time highs and yet you look at the most successful investor ever warren buffett berkshire hathaway's cash pile climbed to a record $128000000000.00 in cash after reported a 14 percent jump and profit obviously cash is dead money if it's just sitting there in a 0 percent interest rate war old he's not putting it to use he's not able to find i guess things to invest in but also on the other hand the fed is printing so much money so fast as processor jumping so fast like it's hard to even spend so this is like that the end game of this wealth inequality there's but there's that at the bottom of it we have a black hole like the people running faster and faster just the same place and the debt keeps on catching up with them and their interest rates are too. 20 percent and they're falling sinker faster and faster and today on the other side of the balance sheet of course is the top and they're there earning so much money that they can't possibly spend it as we recently covered this $4.00 trillion dollars this is $128000000000.00 of a half ways balance sheet they can't spend it because it's

they believe it can withstand some of the ups and downs of end of cycle behavior >> warren buffett, berkshire hathawayhank you very much. >> a wild end to the browns/steelers game as an all outbrawl erupts. speaking of football, could amazon ceo jeff bezos be looking to add a team to his portfolio more of what we'll be talking about coming up on the show. sundown vitamins are all non-gmo, made with naturally sourced colors and flavors and are gluten & dairy free. they're all clean. all the time. even if sometimes we're not. sundown vitamins. all clean. all the time. whether your beauty routine is 3or 57,... make nature's bounty hair skin and nails step one. it's the number one brand uniquely formulated for silky hair, glowing skin and healthy nails. nature's bounty, because you're better off healthy. >> that's a live shot of new york city. a shot from the top of rockefeller center pretty picture there welcome back cnbc holding a special event in california last night celebrating our disruptor 50 list rahel, this was a big deal some stars coming out to celebrate. >> champion megan rapinoe was there. to

cnbc has learned exclusive details about a deal in which warren buffett's berkshire hathaway was outbid was sweetened from apollo's previous bid of $130 a share after an unnamed souter topped the original offer. that souter was none other t

then warren buffett's berkshire hathaway was out with its quarterly results reporting its operating profitmore than analysts expected. they say they ended the quart we are a record 128 billion dollars worth of cash on hand in those berkshire shares just about flat in the extended trade. >>> coming up on the show, the on going demonstrations in hong kong take a violent turn after a knife attack amid all those protests details on that and your morning's other top stories that's coming up straighahd.t ea high protein. low sugar. tastes great! high protein. low sugar. so good! high protein. low sugar. mmmm, birthday cake! pure protein. the best combination for every fitness routine. to take care of yourself. but nature's bounty has innovative ways to help you maintain balance and help keep you active and well-rested. because hey, tomorrow's coming up fast. nature's bounty. because you're better off healthy. >>> welcome back the impeachment proceedings against president trump will escalate this week as nearly a dozen people are set to testify as part of the democrat's probe. one big name on tha

warren buffett's berkshire hathaway on pace for its worst year since 2009.ompared with s&p's 29% game he grew tired of buffett sitting on his massive cash horde. are people questioning or does this raise questions because the oracle is in his advanced age, robert, and now a lot of these choices, right, are probably reflected by the next generation of leadership. >> i think it goes back to the old warren buffett saying, which is when others are greedy, be fearful. when others are fearful, be greedy and look, we've had 11 years, 12 years, whatever it is of people being greedy, making money, markets going higher valuations going way beyond the comfort level of any value investor and so he's sitting back and saying there's nothing worth buying plus, he's been bitten by the kraft heinz deal, which once he has admitted overpaying for that, it's really tough to work up the courage to then do something as big and move the needle -- >> and the rails i mean, rails been the weakest part of the economy. >> investments have been tough there's not a lot of the sides of hi

bigger and bigger will say $150000000000.00 deals with every $300000000000.00 i'm sure warren buffett also berkshire hathaway in a $600000000000.00 deal with some saudi prince at some point but it's all being taken private and that's just another stepping stone along the way that trend we've been talking about here for a few years and if they're spending $70000000000.00 and it's not their money they're borrowing that $70000000000.00 or.

become bigger and bigger will say $150000000000.00 every 300000000000 dollars i'm sure warren buffett also berkshire hathaway in a $600000000000.00 deal with some saudi prince at some point but it's all being taken private and that's just another stepping stone along the way of that trend we've been talking about here for a few years and if they're spending $70000000000.00 and it's not their money they're borrowing that $70000000000.00 or $7070000000000.00 against the assets of walgreens boots i.e. the pension funds of all the employees the buildings in which walgreens lives they'll just sell 3 it all off pay themselves a huge dividend leave the $70000000000.00 of debt with the public shareholders when they've bring it back to the market and dump it on our pension fund leveraged buyout just to be clear you're you're pledging the assets of the company to borrow the $70000000000.00 in this case from the central bank that will charge you nothing for it then you make the acquisition then you make a few spin offs like the pension accounts to pay back that debt and you keep the keep the rest i mean that's what ray

there was an undisclosed bidder that came in that bidder happened to be berkshire hathaway's warren buffetthey had come in with was for $140 a share this was a deal that came together pretty quickly for berkshire hathaway they were first approached by bank of america, who put out a call to todd combs saying, hey, we have a go shop provision in this, would you be interested. within a day he was ready to say, sure he would bid $140 a share. greg abel swung into action, went down to florida to meet with the management team there and without really seeing much more than they already knew about this company at that point, they were ready to make an official bid by saturday, the following day. they really just picked up apollo's contract, changed a few things and said, here is how we run with it, didn't bring a law firm in, not a huge amount of process that took place on that, but it is because they -- they know the companies so well and follow this industry it is interesting from the perspective that things could happen very quickly and buffett is looking around for other places to make deals ba

. >> we got a news alert on warren buffett's berkshire hathaway >> it shows what the fund manager didear. most notable i would say from this filing is a stake in rh, restoration hardware worth about $210 million at the end of the quarter. 1.2 million share stake. so small by berkshire hathaway standards but nonetheless causing that stock to pop about 6.7% in after hours trading. parred back a stake in apple and octobercy de occidentsal petroleum. wells fargo, they parr pared is stake back he keeps getting up to the threshold. i think we can read this more as a portfolio adjustment as any kind of negative sentiment regarding wells fargo. >> a lot of buy back going on in the banking space so he has to trim a little bit to keep below 10%. what about any kind of signs of cash levels overall whether that's come down significantly or not >> i'll get back to you on that. i'm not sure we haven't had a chance to pull the cash levels out yet. he has taken some new stakes and paring back is where he's deploying capital. to give you and exact number i'll get back to you on that >> still to come f

taking a look at shares of rh, soaring after warren buffett berkshire hathaway revealed a stake in theshares, worth a little more than $200 million at the end of september the new stake makes them the fourth biggest stakeholder in rh, that symptom up more than 50% in 2019. 5.7% on the revelation that berkshire hathaway took a stake which is remarkable. by berkshire standards, $200 million is pennies. >> rh restoration hardware, in case people don't know, and the market cap increase, the percentage increase is equal to if not exceeding what they spent on the stake so the company is happy. sometimes you don't know if it is warren, one of his lieutenants, whose fund it came from >> a lot of people look at this as does berkshire see this as a play on the cyclical recovery of luxury housing market. obviously rh, restoration hardware, you find it in higher end homes. is this a play on his or one of his associate's belief there's more room to run in the market >> oxy is the other name in there. got a few things going on. >> yes, it does. and then buffett has the big preferred there. >> what w

cnbc has learned exclusive details about a deal in which warren buffett's berkshire hathaway was outbid. the deal was sweetened from apollo's previous bid of $130 a share after an unnamed souter topped the original offer. that souter was none other than berkshire hathaway buffett told me one week go he bid $140 a share or over $5 billion scluting debt. the apollo's offer was accepted. the later offer accepted by tech data as the better offer and buffett says he does not intend to make a higher offer a little bit about tech data, it is a global distributor of technology products and services it supplies small companies with technology software and hardware made by larger companies, larger technology companies, a middle man. this is evidence of what has been happening with berkshire hathaway as the cash ward has grown. topped over $128 billion according to most recent s.e.c. filings from the company this move is interesting pivot for buffett, he rarely goes up against private equity companies and doesn't like to get into bidding wars it shows how he's going further afield to try andlook t

were up more than 7% by the end of the extended trading session. 13f shows that warren buffett's firm, berkshire hathawayome furnishings company. another investor had already taken a more than multi-million-dollar position. this is of interest. what we also know from these filings, they do not tell us what is exact the in thing funds now, but they tell us what their positions were historically over the past quarter. berkshire hathaway also cut apple, wells fargo, among other holdings. duchesne, which is noah family office. added some ipo's. we had a lot of other billionaires such as john ,aulson adding their positions one of the many additions to current holdings. these are very instructive to many in terms of what shares are favored by the so-called smart money. let's talk about the sayings that have been held by hedge funds. >> when you look at how they performed today, many of the faangs, they performed rather well, but we know a couple weeks back and in the middle of the waster, the momentum abandoned. a lot of these shares went down significantly. very interesting that one of the widely followed hot

was agreed to be acquired by apollo global becky quick reporting this morning that warren buffett and berkshire hathaway were a bidder got the price higher but did not bid further to the end after the neshl expression of interest i want to share a 20-year chart for this because i remember in the heart of the pc boom this was a hot stock. 19.99 going into 2000. almost nothing for much of this time, in fact about 70 here. it was about 60 there. 18 years earlier but obviously it's gotten in favor with this bidding war here look at berkshire itself it has persistently underperformed the s&p 500 over the last couple years. and i have it here with apple. because apple right now in terms of its -- berkshire's stake in apple represents 10% of the value of berkshire hathaway right now. and you can see obviously it's been a big tailwind for berkshire stock. about but still not enough you have the modest underperformance there because perhaps because berkshire has tremendous amount of idle carbon the balance sheet not gaining value. kind of interesting dynamics it wouldn't have been a big deal if it got tech data.

but, up 14 points this morning on the s&p >>> warren buffett berkshire hathaw hathaway operating profitysts expected berkshire also says it ended the quarter with a record $128 billion of cash on hand. that was up from 122 billion i think last quarter and also came after the $10 billion that berkshire pledged to occidental. just shows you if you're a market watcher and sit and think, they have been looking and looking for acquisitions he and charlie munger would both like to do acquisitions but only at the right place he has said for a whool he doesn't see the right price. he's been loading up, putting additional stock into the company of shares of companies he likes including apple which is now the company's berkshire hathaway number one holding. >>> the other big story of the weekend, after years of planning and several stops and starts along the way, saudi aramco formally announcing its ipo. they announced yesterday with the aim on trading saudi arabia's stock market by december there are very few details we should tell you other than that this is happening. aramco could still be the

fan of this as is unfortunately for my bank roll, my wife and i found out that warren buffett is too as berkshire hathaway disclosed a 6.5% stake in the company. they pulled back about 2.9% could be this your moment to buy? let's check in with gary friedman welcome back to "mad money." >> good to be here. >> isn't it a thrill when you hear that warren buffett took a big position >> oh, my gosh, when the oracle somehow finds your company and you know all of the companies in the world, we think we have done a lot of good work over the years. and, yeah, every now and then i'll get reached out -- i never got so many people call or text me about an event ever in the history of my career. >> it's deserving because he likes to find companies that are unassailable and you built one. >> we believe we're building one. look, berkshire is one of those businesses that we -- i have talked about that we had greatly admired and we study and it was kind of three companies that we kind of model ourself after. apple and berkshire hathaway and apple, we're trying to build a kind of an integrated ecosystem of products, places

carl icahn just a few hours ago dropped an open letter on the very company in which berkshire hathaway ceo warren buffett holds a $10 billion investment. to the tussle in the oil fields over occidental petroleum. icahn, who owns 23 million shares, excoriates the board, dead set against its acquisition of anadarko petroleum financed by warren buffett who in may injected $10 billion to help it win its bidding war with chevron. today, icahn called the deal a quote, occi-darko disaster. he insists he still tends to run a proxy fight and if successful will quote, right this teetering ship. he says it's imperative that we the stockholders hold the ceo and certain board members accountable for the massive value destruction that has occurred. since april's bid for anadarko, occidental shares down 36% today. the stock is slightly higher, maybe due to the interpretation of icahn's revelation in the open letter that he has pared his stake by a third and maybe somehow investors think he won't go through with the proxy fight. for the moment, see what buffett has to say, if he does make any comment there. >>> let's ge

warren buffett still has not found any deals. berkshire hathaway' is cash going to record billions.ourth-quarter profit gain. for the year, they have a staggering net income of $52 billion. he will continue to face questions about whether he is being aggressive enough with his massive hoard of cash. global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2,700 journalists and analysts in more than 120 countries. this is bloomberg. manus? manus: annabelle. we will be hearing from michael o'leary who joins me shortly. full-year profit guidance at ryanair. .ichael joins me this is bloomberg. ♪ manus: it is "bloomberg daybreak: europe," and i am manus cranny. potential investors. a long-awaited ipo. well below a $2 trillion target that was set by his excellency, they arebin salman, struggling to find a valuation. saudi aramco. matthew martin is tracking the aramco story. thisew, good to see you morning. so what do you think the main takeaway is from yesterday's press conference for you? good morning. good morning, manus. well, as you said, yesterday, saudi aramco

. >>> now moving to the u.s., berkshire hathaway has amassed a record $128.2 billion cash pile. warren buffettsported third quarter operating profit ahead of forecasts supporting by consumer resilience which helped offset the impact of trade tensions it's been nearly four years since berkshire hathaway last made an acquisition which the stock blames on rising prices. >>> underarmour is under investigation over claims it shifted sales reports from quarter to quarter to boost results. the sports ware company said it is fully cooperating with the probes but still believes it's accounting practices and disclosures were appropriate ceo and founder kevin plaipg announced surprise resignation just two weeks ago under armour reports third quarter earnings today. >>> mcdonald's fired its ceo steve easterbrook following an investigation over a consensual relationship he had with an employee he said it was a mistake and given the values of the company he agreed with the board that it was time to move on. mcdonald's usa president will take over as the ceo >>> and for more on this story and what it means fo

. >>> in one of his biggest home runs ever, warren buffett added nebraska furniture mart way back when to his berkshire hathaway portfolio. 1983. he bought it from a former russian jewish immigrant and the store that she built was worth $60 million back in the '80s. that's what buffett bought it for. now buffett is adding to his furniture portfolio, revealing a new stake in rh, formerly known as restoration hardware. restoration hardware jumping 8% after berkshire hathaway revealed it owns 1.2 million shares of the retailer. that's worth $206.3 million. that makes berkshire the fourth biggest stake holder in rh. berkshire also announced an increased stake in oil producer occidental petroleum. the company purchased $332 million worth of shares last quarter, making it the 17th largest investor, trying to help occidental buy anadarko. that was the deal buffett struck to get in on occidental and provide them with some cash. it was not all good news, though. berkshire decreased its stake in three major companies. wells fargo, that's interesting, folks. buffett has supported wells fargo through i got to say, thin and

for example, berkshire hathaway, the warren buffett, juggernaut if you will, has more than 128 billion sitting around. ditto that. add another 75 billion for apple. all these companies and financial titans, sitting on so much cash, if they were so convinced market was place to put it. they would have it there, but they're not. they're keeping powder dry. keeping powder dry part that is favoring the bullish argument that this can continue. so they hope. stay with us. we'll look at that we'll get update on the latest impeachment saga. that could be a back and fourth on a black swan development. nothing we heard from adam schiff a few moment asking indicate we're closer to that. jarring buyers of that. we're focusing on battle for president's taxes that got one step closer to being released. just one step. doesn't mean it will happen. it got a little closer. stay with us neil: all right. the dow is at an all-time high right now. it is following on the highs of course we have been seeing the s&p and nasdaq almost on a daily basis. again, just to hold to a gain of a little more than a dozen

berkshire hathaway. thank you. i think i would like warren buffett to run it. charles: she says they're great at that thing.olutely phenomenal at that but money these companies make, maybe it could be distributed in more balanced way. the ceo doesn't have to make 400, 500, 600 times the worker. it is resonating on main street. what do you say to someone who says maybe warren has a point? >> you know, maybe she does have a point. if you read this zuckman book, you sankey what they're saying. they say don't interfere with business and business response to incentives. you want to make sure these people don't lose it. once you allow these people to take over the economics of the world, you will lose all the benefits of capitalism as we have it. you will have one tier system where politicians doing it, running businesses. jeff bezos, what is he worth, 80 billion? you know that is not his money. that is not what he will be using. he can't consume that much anywhere. 50 years from now, no one even remembers his name. what he does do, really runs a company, amazon and do it well. leave him alone. let him run it. pa

. >> warren buffett has not found any mega deals to tempt him. berkshire hathaway'sle grew to 125 -- $128 billion. third quarter profits climbed to 14%. they have racked up a staggering net income of $52 billion. buffett continues to face questions as he is being -- if he is being aggressive enough with his massive board of cash. federal officials started probing into practices. this federal investigation coming as the company prepares for a change in ceo. in january, the company plans to hand over the reins. under armour says it is cooperating with the investigation but says they do not think they did anything wrong. airbnb is banning party houses and cracking down on unauthorized aids. -- rates. ves. that is after shooting in california. they are advancing their screen for high-risk reservations. the company's ceo tweeted we must do better and we will. that is the bloomberg business flash. francine: thank you so much. mcdonald's has fired their chief executive for having a consensual relationship with an employee. the relationship violates the worker change policy.

little less than a percentage point today and remember berkshire hathaway just disclosed a stake of about $300 million, guys >> any chance that warren buffetthis one >> well, he has certainly sided with management so far as this whole procedure has gone on. if you recall, he was part of the financing package to actually engage in that takeover of anadarko. he has about $10 billion worth of preferred stock also issued with him and he tends to kind of steer clear of activist investors. he's criticized them in past letters so it would be unlikely to see buffett side with icahn on this one so i think he's going to have to go to other shareholders for their support in this proxy fight. >> thank you, leslie >>> growth stocks have been outperforming value stocks for years. up next, we'll take a look a lot whether growth will go out of style in favor of value in 2020. "closing bell" will be right back there's everything from happy to extremely happy. there's also angry. i'm really angry clive! actually, really angry. thank you. but what if your business could understand what your customers are feeling... and then do something about it. turn problem

warren buffett roo you've been following the story. what are they doing right? >> it's a fascinating story. the stock has been on a tear since may. last week we learned that berkshire hathaway a transformation a few years in the making they actually raised their prices. >> yes >> they cut back on discounting. they moved more toward a subscription model where you have to pay $100 a year to opt in and it seems to be working. they've also moved their brand away from being a furniture retailer and more of a luxury brand. when you go into their galleries -- they don't call them stores. when you go into their galleries you can see it. >> i feel like this is more of a robert frank story because this is secret lives of the super rich and comfortable they have $10,000 couches. i laid down on one in the store. security had to remove me because i couldn't get up or i didn't want to get up. they're raising prices. >> it's like two mac pros just for an rh couch. here's the question i have whether you're talking about the wealthy or not, is this the time to be building 17 to 30,000 square foot brick and mortar stores and to be betting your future on giant boxes rather than moving online