wedgewood partner joining us in a fox business exclusive.the heels of this news >> who knows going forward but there must be something different in mix of the bank stocks i think it is probably buying back a bunch of shares than what they have done in the past. liz: here's the year to date of berkshire hathaway compared to the s&p 500, with berkshire up about 2% versus the s&p 500 up 19%, mr. buffett has underperformed when it comes to berkshire overall, but why -- because you have owned it for 20 years, why are you selling every single share? >> two big reasons. the company's bigger. the cyclical businesses are slowing down in a slower economy. the other reason is capital allocations and there's two parts to that. the first part is mr. buffett has stated repeatedly for years that his preference is to buy companies outright, then maybe common stocks and then his own shares. but when you look at his track record on the companies that he's bought, either on the common stock side outside of apple and you look at precision castparts -- liz: that

david rolf, wedgewood partners, fox business exclusive. sold a quarter after billion in berkshire stock, david, what are you buying with the money? charles: i do want to know why he sold. tune into "the claman countdown." 3:00 p.m. on fox business. lebron james controversy is actually getting worse. espn reports that lebron met with nba commissioner adam silver last week, pressing him if daryl morey would be disciplined for the pro-hong kong tweet. this comes after james said that morey is uneducated on topic, was not thinking of the consequences of that tweet. meanwhile hong kongers not taking james remarks lightly? burning and stopping all lebron jerseys. >>> meanwhile in the states, sports blog bar stool is selling shirts featuring james in a communist chinese uniform. get them while they're hot. while we await congressional leaders arrival in the white house, on this turkey-syria conflict. we'll bring you any comments about that before the meeting. also, top drug distributors are in talks to settle over 2,000 opioid lawsuits. we'll exa

dow jones reports that chief investment officer of wedgewood partners which has held berkshire hathaway stock for 20 years sold his firm's entire position by the end of last q2. now, in a letter to investors, he expressed frustration and annoyance that the oracle of omaha has not done enough to return value to shareholders, arguing that share buybacks have been stingy and acquisitions have been more hit -- more miss than hit. as he writes, quote, thumb sucking has not cut the heinz mustard during the great bull market of 2009 to 2019. he is joining us on wednesday to explain why he has sold out of his berkshire position. another investor is demanding buffett use at least 15 billion of the company's 122 billion cash pile to pay out a dividend. now, buffett has expressed to fox business and to me multiple times that he -- [inaudible] -- at the thought of paying a dividend and he would rather make acquisitions. berkshire stock is up 1.9% while the s&p is up 18%. that may have something to do with it. to the u.s. china trade war where the markets clearly believe it is still a war. why? beca