you had the comments warren buffett made over the weekend. you have -- the company came out with first quarter results and earnings and sales beat the average estimate. berkshire has a quarter of hundred 45 billion dollars -- some positives in terms of their results. on top of that, we had his comments earlier this morning. talking about vice-chairman greg able, his likely successor if anything were to happen to him or if you were to step down. the level of certainty we have not had before. that is something that shareholders have been wondering for years, who would take over if buffett were not in charge. we have a better indication of that now. we move on to a couple of deals. one that is in the works and the other looks like it has happened. the first is verizon. the shares are not moving a whole lot in early trade. the phone company is nearing a deal to sell media assets. they may sell for as much as $5 million. verizon got into those businesses before the ceo took charge two years ago. verizon is making a major commitment to go -- to the

buffett so if something should happen to warren buffett overnight that's been a great cable what i'm steppin so for the sake of foreign buffet let's hope that some time back in the future but it's interesting because there are 2 co-chairs so there is great cable being in charge of the non-insurance business and then there is a judge jane always in charge of the insurance business so obviously when it comes to the railroads and other parts off of berkshire hathaway that might be seen as more important at the moment and then the insurance on. yes carter thank you very much. a look now at some other business stories making headlines arisan is selling off its media group to private equity firm apollo global management in a $5000000000.00 deal to the list of brands include early internet pioneers a.o.l. and yahoo rise and will keep a 10 percent stake in the company a shipment of more than 300000 doses of the pfizer buy on talk vaccine arrived in south africa on sunday pfizer has pledged to send 4500000 doses to the country by june south africa has been one of the african countries 1st hit

that is the message from warren buffett. the spac's are crowding me out, but i will build my buffers, and the world seems like a casino. it is a frenzy out there, a gambling impulse, and that, he warns, creates its own reality. nobody tells you when this clock strikes midnight and it all turns to pumpkin and mice. 14.5 billion dollars in the bank -- 105.4 billion dollars in the bank. it is time to talk about tapering. mr. kaplan raises the specter. the dallas fed president says it is time to talk about the excesses. it is time to start talking about the taper. that is very much at odds with jay powell. and never left out of an argument or a discourse, not an argument, it is a discourse on the bid and the offer. do you want to belong in a bubble? sure in a market is the easiest place to die. let me assure you a market that is far from short. three weeks in a row, the money has rolled into the equity markets. we have not seen that since july 2020. the calls on euro-dollar are quite literally splendid this morning. comments by

but first, warren buffett's hot hand is back. berkshire hathaway clocking just over $7 billion in operating profits on $64.6 billion in revenue. the parents of more than 70 businesses that buffett and vice chair charlie munger built 56 years ago hitting an all-time high right now, up 2.25% at 421,581. stock has never split, that's why it's so expensive. the meeting was held virtually in california without the usual 40,000 buffett faithful who every year make the annual trek to omaha where they pour through the front doors, they rush right in to hang on the billionaire's every single word. but this time the oracle began virtually by taking a swing at online brokerage robin hollywood, bankrupt9ly calling those who trade on the free app gamblers. >> well, that is really waving the red flag at the bull. [laughter] finish i think it's just god awful what something like that would draw investment from civilized man and decent citizens. it's deeply wrong. liz: buffett saving kinder words for apple's ceo tim cook seen here with me during

warren buffett says the u.s.

buffett over at berkshire hathaway and of course is from the 1920 s. he was born in 1924 so he will remember as a little child baby flapper you know that the wrong twenty's charlie monger on bitcoin today quote i should say modestly that i think the whole them development is disgusting and contrary to the interests of civilization she owns banks that launder billions per year and have been charged criminally give me a break says ethen he promptly on 0 right right path makes a get out survey should there you know 75 percent of the berkshire hathaway portfolio he break it down is banks and the banks are the 1st in line from the central banks to get all the bailout money member berkshire hathaway's been bailed out twice without those bailouts they would have been bankrupt long ago they're under performing even with the bailouts they're still underperforming the s. and p. and nasdaq for more than 10 years. these guys are their bombs their charity cases right so and you say income is up 30 percent to be clear that's not wage that's income so it's people get

>> i have, warren buffett -- >> where do you think this leads, mohammed? do you think sthis is the situation that the chairman jay powell said inflation will pass. we'll go through a time period of it, but then it will pass but when you start to hear berkshire hathaway will be increased from the customers, their suppliers. they're passing on to customers. you hear coca-cola, you hear procter & gamble talk about raising prices once prices tend to rise to consumer goods it generally doesn't roll back quite as quickly. what do you think? >> the fed is spreading itself into a corner. all of this suggests you have an open mind. you cited examples i can cite examples. warren buffer fete talked about very substantial inflationary prices and prices are sticking you've got to keep an open mind. unfortunately because it's hostage to a framework that is outcome-based, i think the fed has to choice but to insist it's transstory but i mere this is not transitory. >> it's almost impossible to think of the fed raising rates at this point and that's traditionally how you

paul: did warren buffett give any hints on how he might deploy that enormous cash pile? sally: he is a fan of buying back his own stock and has been for a while. him and his longtime business partner see the value in doing that. in terms of secession we got one potential clue. at one point charlie mungo mentioned greg able, another one of the younger controls of the berkshire's businesses, would maintain the culture at berkshire. so i think investors, that probably peaked in their interest a lot. but no successor has been a lot -- has been announced. that was a comment that might be picked up by some investors. shery: what about little comments about succession? sally: exactly. he does not get a lot of way -- a lot away, but that was one tiny breadcrumb that people might see the pun and think he mentioned able would maintain the culture at berkshire. potentially is that an indication of what is to come? but it is very hard to say and be definitive on anything like that with warren buffett. paul: all right. finance editor sally bakewell there. you can get a roundup of the

greg gable is not warren buffett, is he? david: he is not, but he has the potential to be warren buffett successor. that is what we learned when warren buffett top to cnbc. this question has been hanging around for years. who will succeed buffett? the idea we have a bit more certainty is going over well. berkshire is up 1.6% in early trading. they are in mind berkshire put out first quarter results over the weekend. they ended the quarter with $145.4 billion in cash and they spent $6.6 billion on stock buybacks. tom: i've been going back and forth with craig moffett from moffitt nathanson. you are the l.a. one who knows how much they lost. how much is it? david: it is billions. we have earnings out of estee lowder not going well. stocks down 4% because the third quarter came out. sales trailed analyst average estimates for the second time in the past four years. his gross profit margin was lower than projected and makeup demand is weak because the coronavirus pandemic reduce the number of occasions to use it. on the flipside

. >>> warren buffett and out swinging what he said >>> and the health crisis in india glrows worse as the white house considers sending vaccines there. >>> the biden administration kicking off the $2 trillion spending plan, but will some democrats balk at the price tag as the american economy surges >>> we stick with the roads for the morning rbi as the uptick in the number of you getting behind the wheel surges to go, well, anywhere it is monday, may 3rd. this is "worldwide exchange. ♪ ♪ >>> good morning, good afternoon or good evening. welcome from wherever in the world you may be watching. i'm brian sullivan welcome to may here is how your money is setting up your day. futures in the green dow futures up 195 nasdaq up 27 now april, remember april? proving to be a strong month for stocks the s&p 500 notching its third straight month of gains. adding more than 5%. nasdaq climbing about the same dow up about 3%. all this as new data from jpmorgan chase and the fed shows that you, mr. and mrs. individual, are holding more stocks than ever before. climbing now you to 41% of your tot

different countries friday disinvestments around the world for a while even warren buffett has just put a huge amount of capital says ferment to japan and south asia going on there the us james wants to stop the belt and road initiative which one could argue is similar to a post world war 2 marshall plan how do you think this city's trap will play out that is to say the rise of china and the fall of the u.s. you know we've seen these kinds of musical chairs amongst empires now going back thousands of years. does that does the u.s. in gauge china in hot war in other words is all this is us is going to go quietly as china moves up to the top dog ours are going to be a hot war. contradict that one actually saw hope that it's going to be quiet no wars i think conventional wisdom is that eventually there will be a war but take the contrary point of view and say there isn't going to be work because everybody knows about it can be you know we seen it we know it can happen i think everybody wants to avoid it so let's hope that that's the case but there is a point here that is important that you

buffett over at berkshire hathaway and of course is from the 1920 s. he was born in 1924 so he will remember as a little child baby flapper you know that the wrong twenty's charlie monger on bitcoin today quote i should say modestly that i think the whole them development is disgusting and contrary to the interests of civilization she owns banks that launder billions per year and have been charged criminally give me a break says anthony promptly i know right right palm makes a good aftermath of their you know 75 percent of the berkshire hathaway portfolio he break it down is banks and the banks are the 1st in line from a central banks to get all the bailout money member berkshire hathaway's been bailed out twice without those bailouts they would have been bankrupt long ago they're under performing even. with the bailouts they're still underperforming the s. and p. and nasdaq for more than 10 years these guys are their bombs their charity cases right so then you say income is up 30 percent to be clear that's not wage that's income so it's people getting

we take a look at warren buffett'a probable -- warren buffett's probable successor. this is bloomberg. ♪ haidi: warren buffett has named berkshires vice chair frank abel as his probable successor if you were to step down. let's get more on the business. did this come as much of a surprise? sally: in short, no. succession has long been a question for warren buffett, who is 90, and his longtime business partner is 97. we knew a succession plan have been drawn up by the board, although the actual air to the throne had been kept secret. it has been one of the weakest topics of discussion as the two progressed further into their 90's. on saturday, one had let slip that abel will keep the culture, in a point by buffett to managing the conglomerate. it seemed like after that if it felt he needed to confirm that abel would take over. abel overseas berkshire's investments. he had been seen as a potential candidate. shery: what kind of leadership management style should we expect from him? we've had a glimpse. he has been at the past two annual meetings and on saturday he ha

he's been seen as the candidate most likely to replace warren buffett. verizon is getting rid of once dominant brands a well and yahoo! to apollo management -- brands aol and yahoo! to apollo management. the price, $5 billion. alix: thanks so much. for more on the deal, we want to go to bloomberg's dave wilson. give us some of the details. dave: you are looking at aol, yahoo!, some of the other businesses of verizon being turned over to apollo. we know verizon paid about $9 billion total for aol and yahoo!. they spent a little more along the way, for the blogging site tumblr, among other things. they have written down the value of those assets by $4 billion when their current ceo hans vestberg took over in 2017. a $5 billion price tag pretty much covers the rest of what they paid. we will see how the accounting works out in the end. nonetheless, this is really a step away from a business that verizon arguably was challenged to get into and to compete with the likes of google, facebook, and these more recent stars, you might say, of the whole social media

certainly berkshire hathaway's ceo warren buffett said erdogan is promoting casino-like in shares here what he had to say at the annual meeting on saturday. >> how they handle source of income, they say they don't charge the customer anything i mean, the -- this will be interesting to watch how they describe it, but they -- they -- have attracted, maybe set out to attract, but they have att attracted, i think i read where 12% or 13% of -- of their -- casino participants can dealing with puts and calls. i looked up on apple the number of seven-day calls and 14-day calls outstanding. i'm sure a lot of that was coming through robinhood they're gambling on the price of apple the next seven days. there's nothing -- nothing illegal about it, nothing immoral. but -- i don't think bubbles around society, people doing it. >> robinhood honing in on that with a fiery response this morning. argues that "there is an old guard that doesn't want average americans to have a seat at the wall street table. so they will result to insults." the future is diverse, and engaging technologies that have the po

it is really just comprised of bill invalid and warren buffett. very little insulation between the public and the private. the second important point is, perhaps the most important ways in which the divorce could affect the nonprofit sector is not through the foundation. it's the money they are currently sitting on that hasn't yet been allocated to the foundation, which is even more than what's in the foundation. the foundation has more than $50 billion worth of assets. bill gates is worth twice that. we just don't know what that means. will they continue to put money into the foundation? they have made public commitments that that is what they would do. each of them has kind of side projects and five vehicles. it is possible they will bulk of those channels for giving instead. a whole lot of uncertainty. we don't have clear answers. >> we have a lot more questions, which >>> thanks for joining us on this interactive show, gett >>> tonight, several developing stories as we come on the air. the coronavirus, the president and the new goal. president

buffett so if something should happen to warren buffett overnight that's been a great cable what i'm steppin so for the sake of for a buffet let's hope that some time back in the future but it's interesting because there are 2 co-chairs so they risk rate cable being in charge of the non-insurance business and then there is a jihad jane always in charge of the insurance business so obviously when it comes to the railroads and other parts so for berkshire hathaway that might be seen as more important at the moment and then the insurance on dance karta thank you very much. a look now at some other business stories making headlines. verizon is selling off its media group to private equity firm apollo global management in a $5000000000.00 deal to the list of brands include early internet pioneers a.o.l. and yahoo rise of will keep a 10 percent stake in the company. a shipment of more than 300000 doses of the pfizer buy on talk vaccine arrived in south africa on sunday pfizer has pledged to send 4500000 doses to the country by june south africa has been one of the african countries 1st hit

positive news for the summer season >>> warren buffett's berkshire hathaway bouncing back from the loss last year in the first quarter thanks to the market rally. the business also saw cash piles surge to $145 billion at the end of 2020 as the pace of buybacks slowed in a virtual shareholder address, he defended the company decision to back away from airlines last year >> imagine if berkshire was the 10% holder it would be like -- they might have very well had a different result if they had a very, very rich shareholder that owned 8% or 9%. they didn't have that when they went in. you might not have gotten the same result. in fact, i would think you probably wouldn't. i can see the headlines now. you have seen the headlines on some companies of $100 million and really didn't need it and some gave it back. most of them gave it back. you were looking at probably a different result than if we kept our stock. >> buffett called the u.s. economy red hot. warning that berkshire may have an impact in inflation >> it is substantial we're raising prices people are raising prices to us. it's being

a lot of growing discussion with warren buffett and others about bonds. you heard warren buffett talk to becky about it and the fed heads on tape about it with that in mind, we are not seeing a big move in bond-year-old. 10-year has been stuck at 1.62%. how can we not talk about wood lumber prices. if you are not paying attention, this is incredible the price of lumber just continues to rock on year-to-date, price of lumber, osb oriented strand board, up 8 81%. it was about $600 late last year this all means, of course, the price of anything made with wood, you know, houses many of you may be looking to throw a deck on your home will be paying more we heard the story of a lumber retailer selling their wood back to the wholesaler so they can sell it back to another customer at a higher price. things have gone nuts in the world of wood. >>> let's go now around the world as well. a mixed picture in asia. nikkei and shanghai lower at 1%. hang seng and kospi up germany down a little bit and france and the uk brightly higher >>> now to the top stories india cro

buffett underperformed the s. and p. 500 for the past 20 heiress and charlie munger now say that it is it. not fear what's not only quote disgusting but i threats in the interest of civilization. think it's a greater threat charlie munger innisfail or because i'm. janet yellen running the treasury is a bigger threat than all of them i mean look she can get it right it shall reserve i did a presentation in switzerland. and there are a couple slides here's one of them about general yellen is use at the central bank machine instruction in central banks right now she's paid $8000000.00. lobbying organizations in big i guess that's where she got the issue a treasury issue she looking out for she's already said she's going to declare war on because we won't know exactly what that means but as i've said many times a little more going on is an alternative asset class we've all to use externally high and it's i think it's why narration if you go to a 1000000 or you go to 0 and so people should have it worse it is in there

. >> wow warren buffett is blasting spacs calling them a killer. after the initial frenzy the returns have been anything but spectacular. >> the reopening stocks versus the stay-at-homes. should you bet or uber or lyft we'll talk to an analyst throwing in the wipes on one stay-at-home darling "power lunch" starts right now >>> and we start with the markets on that reopening theme. that's where the action is today. let's go to bob pisani for more. hi. >> hello we are up but off the highs. buying yields moved down and bank stocks as well. but we are still doing really well and the reopening stocks matter so seeing steel stocks like nucor at new highs. restaurant companies and food delivery like domino's pizza, the companies package delivery companies like u.p.s. doing well and carmax new highs one group that's not reported yet, 60% earnings season, are retailers on an additional month and are to get the april ending quarters and many are hitting new highs and also really been moving up on the reopening story so new highs in gap, ross stores, ralph la

shows or claims that we have right now warren buffett underperform the s. and p. $500.00 for the past 20 heiress and charlie munger now say that it is bit and not feel what's not only a quote disgusting but i threats and interest of civilization what do you think it's a greater threat charlie munger and his fear or because i'm a mets. janet yellen running the treasury is a bigger threat than all of them i mean look she can get it right it's no reserve i did a presentation insincerely and 0 and were a couple slides here's one of them about general yellen when she was at the central bank machine instruction in central banks and you know she's paid $8000000.00. lobbying organizations in big guy that's where she got the issue a treasury issue she looking out for she's already said she's going to declare war on what exactly what that means well as i've said many times a little more going on is an alternative asset os with all chinese extremely high and i think it's binary so if you go to a 1000000 or you go to 0 and so people should have it worse a day in there

shows or claims that we have right now warren buffett underperformed the s. and p. 500 for the past 20 heiress and charlie munger now say that it is it. not fair what's not only quote disgusting but a threat to mantras of civilization what do you think is a greater threat charlie munger innisfail or bekele i'm let's. janet yellen running the treasury is a bigger threat than all of them and he looks she can get it right it show reserve i did a presentation in general and. and there were a couple slides here's one of them about general jaan was used at the central bank machine instruction in central banks and you know she's paid $8000000.00. lobbying organizations in big i guess that's where she got it is she who she looking out for she's already said she's going to declare war on cuomo and know exactly what that means as i've said many times and we're going on is an alternative asset oss we've all to use externally high and it's i think it's binary sheer if you go to a 1000000 or you go to 0 and so people should have it were sitting in there or only or because

buffett over as berkshire hathaway and of course is from the 1920 s. he was born in 1904 so he will remember as a little child baby flapper you know that the wrong twenty's charlie monger on bitcoin today quote i should say modestly that i think the whole damn development is disgusting and contrary to the interests of civilization he owns banks that launder billions per year and have been charged criminally give me a break says ethen he promptly i know right right path makes a good after vaishnav there you know 75 percent of the berkshire hathaway portfolio he break it down is banks and the banks are the 1st in line from the central banks to get all the bailout money member berkshire hathaway's been bailed out twice without those bailouts they would have been bankrupt long ago they're under performing even. with the bailouts they're still underperforming the s. and p. and nasdaq for more than 10 years these guys are their bombs their charity cases right so when you say income is up 30 percent to be clear that's not wage that's income so it's people get

shows or claims that we have right now warren buffett underperformed the s. and p. 500 for the past 20 heiress and charlie munger now say that it is that co i am not feel what's not only quote disgusting but i threat to manchester of civilization what do you think of the greater threat charlie munger innisfail or bekele i'm let's. janet yellen running the treasury is a bigger threat than all of them i mean look she can get it right it's no reserve i did a presentation insincerely and zoom and were a couple slides here's one of them about general yellen when she is at the central bank machine instruction in central banks right now she's paid $8000000.00 by lobbying organizations and big guy that's where she got the treasury she who she looking out for she's already said she's going to declare war on what exactly will be as i've said many times a little more going on is an alternative asset class with all juniors extremely high and it's i think it's binary sheer if you go to a 1000000 or you go to 0 and so people should have it worse in their only or it should

warren buffett did power for their into bank of america. this is very retail consumer oriented banks. that fits into his theme of saying " america is doing well." anna: dani burger with insights. coming up, we will be back with the macro. u.k. implement rises more than expected and the economy reopens. we will get the view on that. mark cooper joins us next. laura cooper joins us next -- laura cooper joins us next. this is bloomberg. ♪ ♪ >> welcome back to the european market open. it we are 53 minutes into our trading session. the european equity markets are up half a percent. vodafone is weighing on the telecom sector though. let's talk to laura cooper. your thoughts on what is pushing us higher here? in the asian session we went higher despite concerns about clampdown's and the virus there. >> that appears to be the case today. there are a number of factors. one, we are seeing the dollar on the back fight. that bodes well overall for risky sentiment. investors are focused on european recovery. we are seeing europe taking the growth r

on this particular stock cathie wood recently selling some of her apple decision and warren buffett says he regrets selling some of his holding. so who's right about the future of the tech giant? dan ives is here as well as tim higgins, a tech correspondent with the "wall street journal. dan, i think you probably agree with the oracle of omaha on this one. why is apple overweight in your opinion? >> yeah, i mean i couldn't agree more because to me it's about the monetization i think they're just starting on the services side. we think that's worth $1.3 trillion alone we've talked about the super cycle. this is not just a six-month super cycle. it's a 12 to 18-month super cycle. we believe this is just near term pain that we've seen with the rerating but we ultimately think on the other side this is a stock that's up 40% to 50%, $3 trillion in the next year. that continues to be our call and we do not waver from that. >> tim, you feel like perhaps cathie wood is on the right side of this one. what are your thoughts here? >> i think an investor like cathie wood is making huge bets on

warren buffett exited a big portion of that. he also got out of bristol-myers squibb. his team who are in charge of the stock portfolio are not in love with the pharmas. you say cash flow is important here but what is the nut as you look at the pipeline of merck that tells you stay in this? >> what happened is if you look at oregon, this is a company they're spinning off. when they spin that off you're going to have a different balance sheet that will be better and you will have an earnings setup what you're looking at the next 35 years and i think you'll find overall that will really help merck. if you look at merck, it is down from 92 to about 79. it has some room to go here. like i say it is selling half the multiple. usually sells at a 10% discount to the s&p multiple. it is at a 50% discount to the s&p multiple now. liz: got it. 3.3% dividend. not to mention your oil pick, pipeline pick has 7% dividend. we like stocks that pay us on days like this it where just about everything is moving lower except the airlines and electric vehicles. [closing bell rings] dow, na

coming up, warren buffett to the global chip crunch. this is bloomberg. ♪ wanna help kids get their homework done? well, an internet connection's a good start. but kids also need computers. and sometimes the hardest thing about homework is finding a place to do it. so why not hook community centers up with wifi? for kids like us, and all the amazing things we're gonna learn. over the next 10 years, comcast is committing $1 billion to reach 50 million low-income americans with the tools and resources they need to be ready for anything. i hope you're ready. 'cause we are. karina: let's get to first word news this afternoon. the signs of greater reopening in new york. governor cuomo says railway will resume 24 hour service. also announcing that most capacity restrictions have businesses will be lifted on may 19. the announcement comes as infections in the u.s. climbed at the slowest space since the pandemic began. new york city said the big apple will mostly reopen in july. antal car companies in the u.s. cannot get the new cars they nee

buffett over ads for hathaway and of course is from the 1920 s. he was born in 1924 so he will remember as a little child baby flapper you know that the wrong twenty's charlie monger on big queen today quote i should say modestly that i think the whole damn development is disgusting and contrary to the interests of civilization he owns banks that launder billions per year and have been charged criminally give me a break says f. and he promptly i know right right path next to get out survey showed their you know just how many 5 percent of the berkshire hathaway portfolio he break it down is banks and the banks are the 1st in line from a central banks to get all the bailout money member berkshire hathaway's been bailed out twice without those bailouts they would have been bankrupt long ago they're under performing even. with the bailouts they're still underperforming the s. and p. and nasdaq for more than 10 years these guys are their bombs they're charity cases right so then you say income is up 30 percent to be clear that's not wage that's income

but, you know, i don't know if you guys heard, but warren buffett's insurance czar had no patience for the question lobbed at him during the meeting this weekend for berkshire hathaway on whether he'd consider insuring elon musk's eventual rocket to mars. here's ajit james' answer and warren buffett's almost immediate disagreement. >> no thank you, i'll pass. >> well, i would say it would depend on the premium. [laughter] and i would say that i would probably have a somewhat different rate if elon was onboard or not onboard. >> i would be very concerned. >> tell elon to maul me instead of ajit. [laughter] liz: the huge insurance business brought in $17.8 billion in the first quarter. while buffett said he is willing to lose $10 billion on a single event d of course, he doesn't want to -- berkshire hathaway is flat at the moment. the stock market is losing you could say billions overall at this hour. but the nasdaq in particular seeing its longest losing streak in two months. 311 points. but the lows of the session, down 409. are today's losses just kind of a pressure release for invest

buffett's got to be probably the the guy who is transferred more wealth say hey. personally but views ing accounting fraud and market manipulation and s. 3 right is never invented anything he's never done anything productive he's only been on the receiving end of major all of our tax fraud in america and now it's the chickens are coming home tourists and he'll be gone him and charlie will be and they'll be gone soon hell what do they leave behind but isn't norma's garbage of a mess it's disgusting i love your guts and you're on a senior straightforwardness match i always have been you i really can't add on to it except that to say you know we've got to have the right attitude we have to accept those facts you just outlined and understand with the consequences of that you know there's a. there's a law you know it's a law of you you have to read. the repercussions of what you sow and we've shown bad seed for a long time we faked it we phony did it we are under it all of our control and now we're going after pay the price on a societal basis and the more you are able

those are claims that we have right now warren buffett underperform the s. and p. $500.00 for the past 20 heiress and charlie munger now say that it is it and not feel what's not only quote disgusting but i threat to mantras of civilization was serious think of the greater threat charlie munger and his fear or bet climb let's. janet yellen running the treasury is a bigger threat than all of them i mean look she can get it right it's no reserve i did her presentation in switzerland. and there are a couple slides here's one of them about general jaan is use at the central bank machine instruction in central banks right now she's paid $8000000.00. lobbying organizations and big banks that's where she got the issue treasury issue who she looking out for she's already said she's going to declare war on because we won't know jack we will meet as i've said many times and we're going on is an alternative asset class we've also used it should be high and it's i think it's binary shit if you go to a 1000000 or you're going to 0 it so people should have it were sitting

big news out of warren buffett closing after the close. let's get to leslie with the details. >> an unusual trade for berkshire hathaway cut ago way half of the stake in chevon and revealed only in the fourth quarter. at the end of march, however, berkshire still owned about $2.5 billion worth, despite selling 25 million shares during the quarter. berkshire hathaway had been pairing back the stake in wells fargo as well. but during the quarter the firm almost completely sold out divesting nearly 99% of its holdings at quarter end, berkshire has a $26 million stake in wells fargo warren buffett's firm also selling about 5.5 million shares of gm during the quarter now all three names, chevron, wells fargo and gm had been huge winner this is year and berkshire had indicated this month that it was a net seller of equities during the quarter. >> leslie, thank you with the latest on that. wells fargo, that move was very big. and just last week, tim, as guy pointed out on our conference call, you and karen talked about trimming your positions in

claims that we have right now warren buffett underperformed the s. and p. $500.00 for the past 20 errors and charlie munger now say that it is bit coy and not fair what's not only a quote disgusting but a threat to mantras of civilization what do you think of the greater threat charlie monger innisfail or beck climb let's. janet yellen running the treasury is a bigger threat than all of them i mean look she can get it right it shall reserve i did a presentation insincerely and zoom and there are a couple slides here's one of them about general yellen which she is at the central bank is too much corruption in central banks right now she's paid $8000000.00 why lobbying organizations in big i guess that's where she got the issue the treasury issue who she looking out for she's already said she's going to declare war on. reeves as i've said many times and you are going to is an alternative asset os we've all to use extremely high and it's i think it's why narration if you go to a 1000000 or you go to 0 and so people should have it worse it is in there or

buffett's got to be probably the the guy who has transferred more wealth say hey. personally but views ing accounting fraud and market manipulation that is what n s 3 right he's never invented anything he's never done anything productive he's only been on the receiving end of major all of our tax fraud in america and now it's the chickens are coming home to roost and he'll be gone him and charlie will be in the they'll be gone soon hell what do they leave behind but isn't norma's garbage of a mess it's disgusting of your guts and you're on the scene you're straight forward a snatch i always have been you i really can't add on to it except that to say you know we've got to have the right attitude we have to accept those facts you just outlined and understand with the consequences of that you know there's a. there's a law you know it's a law of you not to read. the repercussions of what you sow and we've shown bad seed for a long time we've faith to only do it we are under it all 'd of our control and now we're going after pay the price on a societal basis and the mo

liz: michael shallov, what do you say to the crypto doubters out there and it's not just warren buffett but it's jamie dimon who says he has nothing to say about it, he knows his clients want to trade in it but how do you make them understand and see through the prism that you look through? >> well i think that jamie dimon a few months ago they already launched an rfp being a crypto custodian so i guess that most of those banks and we work with a lot of the traditional banks in the last two quarters, we entered about 20 rfp's, requests for proof for proposal for the top banks in the world, we're working with bank of new york mellon, and all of them are actually stepping in so i think that we're really beyond the point of no return here. i mean, at the end of the day, if they're questioning bitcoin, they can question bitcoin but at the end of the day, ethererum all of the other blockchains are inherently basically, the infrastructure of the future to issue federal bank digital currencies to issue tokenized securities, to issue non- fungible tokens and the same with nft's so i think that

, who are long warren buffett, long berkshire, and carl, i find it denigrating, and i find it patronizing, and i know you're not supposed criticize these two gentlemen, i know they're supposed to be above criticism but they directly attacked a wave of investing, carl, that i'm very excited about, and those are the people who get blown out. >> do you consider, jim, seven-day calls investing. >> that's not investing. that's stupid. do i consider that's what everybody is doing absolutely not do i consider when people call in and ask me about it, and you can say that's anecdotal, too, well, i don't know, after 16 years and thousands of shows, i'm more empirical than those gentlemen. david, i just think that we have millions of people who are finding their way, and some are going to make big mistakes, always have. >> but those who would use the app on a daily basis and treat it in the same way that they would a betting app -- >> that's foolish. but they'll get blown out. but there will be some of the millions, millions, who will buy, and how about this. one of the most popular things to do is

. >>> coming up, small business owners and warren buffett agree that costs are going un. what it means for consumers next don't miss the cnbc small business playbook tomorrow they provide critical advice to help owners overcome obstacles and stage a strong come back you can register now online.y po t a mirror, it's an unstoppablet community. come on jesse, one more! it's every workout. come on you two, let's go! for everyone. so join in now. and see your best self. in the mirror. hey lily, i need a new wireless plan for my business, but all my employees need something different. oh, we can help with that. okay, imagine this... your mover, rob, he's on the scene and needs a plan with a mobile hotspot. we cut to downtown, your sales rep lisa has to send some files, asap! so basically i can pick the right plan for each employee... yeah i should've just led with that... with at&t business... you can pick the best plan for each employee and only pay for the features they need. which shows will you be getting into tonight? how 'bout all of them. netflix. 'cause xfinity gets you

warren buffett is 90 years old. microsoft cofounder bill gates and melinda gates, his wife of 27 years, say they are divorcing but will continue to work together as the massive philanthropic foundation they created. the made the statement on twitter. they married in 1994 and work together to improve global health, literacy and combat find climate change. they have given way more than $50 billion. global news 24 hours a day on air and on bloomberg.com. i'm vonnie quinn. this is bloomberg. haidi: let's take a look at markets as we see parts of the region still closed for holiday. sophie, what are you watching? sophie: japan is off-line this tuesday. we are seeing s&p minis move lower and a mixed bag elsewhere in the asia region. few stocks gaining ground while the kospi is fluctuating with health care names among the biggest drag. extending losses after which we saw the short sell bedding lifted. this is as we are seeing oil hold gains. wti above 64, brent above 67. step forwards in reopening in europe and the u.s., p

neil: so you know, it has some big backers, warren buffett chief among them. i wonder whether it scares off those financial backers or those who might think twice about the giving pledge, not that it requires to give the gates foundation and give away their wealth while they're still alive, that sort of thing, do you think any of that is changing? >> it is hard to know what is coming. warren buffett is the third member of the gates foundation board and committed the majority of his foundation to the gates foundation. they have been very close for a long time. i assume that that relationship will continue. neil: david, thank you very much. david callahan, following all of this closely. a lot more expertise than any of us. we'll see how it all pans out. we hope well for the couple. they have done a lot of good for the entire planet. we have a lot more coming up including right now concerns of another skylab. remember when skylab, the old space station that the united states started was abandoned and eventually came burning back into the atmosphere? now the chine

., warren buffett raised some eyebrows over the weekend at the shareholder meeting. he is worried about inflation. are you? >> definitely. you know i think, i think, look what the normal person supposed to do every day. two things on a daily or weekly basis that gasoline and food prices and i would say anyone watching today is probably nodding their head. look at the gas prices over the last year, they have really shot up. you look at food prices. you can't go in the grocery store, my gosh, if you're trying to buy even a pound of simple ground chuck or vegetable, fresh vegetables the prices have skyrocketed. it's a clear opening for places like costco or walmart that can do a little bit better but i'll tell you what, inflation is there. i'm with buffett. >> yeah. okay. look it, he says, he thinks the s&p will actually get hurt by that the 500. gary, ryan, gentlemen, thank you very much. >> thank you. >> thank thank you, cheryl. >> more money, more problems from possible food stamps to a death tax r there more taxes coming your way? stick with us. ♪. cell phone repa

warren buffett warning about trading platforms like robinhood. he says they encourage the gambling impulse. i think you and i agree on this one. thou. >> i absolutely agree. i think we are making a bad mistake in the u.s. allowing gambling casinos to go and almost everywhere. trading stocks like in a manner i've never seen. we have gambling's going on earlier and you had someone on earlier that the average age is 31 and the average amount of money is $250, but they are gambling, not investing. at they are taking gambling options and i find that disconcerting, too much like what happened in 1928 and 29 when president kennedy's father got out of the stock market because he knew shoeshine people were giving him recommendations on stocks. too much gambling and not enough investment and again that's me wanting to own goodyear tire and u.s. steel opposed to nvidia and high-tech industries a. stuart: you do see a nasty correction coming, you just don't know when. is that accurate? >> there will be a nasty correction coming. at these things never and wel

warren buffett says his berkshire hathaway will never pay a dividend. he wants to take profits, pour them back into the business but he sure loves one particular dividend-paying stock f has a big presence in warren buffett's stock portfolio. today's "countdown" closer agrees because it is his top pick. david spika, 16.3 billion in assets under management. david, reveal it right now and what's the yield? >> well right now there is several names that we're bullish on maria. we like deere, taiwan semi, we like u.s. bancorp. these are all companies leveraged to what we're seeing going on throughout the economy right now. these are companies we think are well-positioned to outperform over the near term. liz: all right. it is liz, you can say to my maria. she is in the mornings. >> i get you confused, two most beautiful women on tv i get you both confused. i'm sorry, liz. liz: nice save, david! nice save. we'll take the compliment, thank you so much. u.s. bancorp in particular. this is somewhat after regional, right? as you look all been happening with the fi

the couple along with warren buffett created that giving pledge back in 2010 encourages the world's richest people to give most of their wealth to charity. >> there was this collective gasp in the world yesterday. the gates foundation philanthropy, it's an understatement. they're almost like a whole other governmental entity that takes care of the stuff in the world that no one else is dealing with. >> the sticky problems, the problems that don't have easy outcomes, they spend billions trying to fix. trying to program around the problems in the world and fix them. it's so successful that there are other very smart, successful rich people who have just said, you know what, we're going to give you our money, like warren buffett, we're going to give you our money because your foundation does it so well. another thing, they've been giving money fight against the pandemic, 1 and three quarters billion dollars over the last year. that was focussed on equity, getting vaccines and medical supplies in an equitable way around the world. >> that work we're told will continue. >> they say the foundatio

plus, warren buffett is making some moves that impact stephanie link's holdings as well. we will be right back. stop ther. we always offer 50% off family lines on our military and veteran plans. that's right, 50% off on america's most reliable 5g network. who goes right back to sleep after getting an alert of an unusual charge on their credit card? you do. round the clock fraud protection. one of the many things you can expect when you're with amex. wanna help kids get their homework done? well, an internet connection's a good start. but kids also need computers. and sometimes the hardest thing about homework is finding a place to do it. so why not hook community centers up with wifi? for kids like us, and all the amazing things we're gonna learn. over the next 10 years, comcast is committing $1 billion to reach 50 million low-income americans with the tools and resources they need to be ready for anything. i hope you're ready. 'cause we are. >>> hi, everybody. welcome back to "the halftime report." i'm kelly evans and here is your update at this hour north carolina prose

you might warren buffett's 90. we talked a little bit about that point. munger called it dangerous he thinks that anytime big media organization or big financial organizations hacked. they're paid in bitcoin and it's a legal go that. keep in mind buffett and munger dinner tech stocks them 1890's and it took 15 years for get involved. they'll be long dead before we can judge whether right or wrong that point neither seem to like each, ok. they're not fans, at least not right now anyway. >> and we have touched quickly on verizon. big headline coming out of there. they sold yahoo and aol for 5 billion, which sounds like a lot of money, but i think they took a loss on that, didn't they. >> and they paid 4.4 billion for aol and 4.5 from yahoo. i bring it up and start again. brought up the beached whale beach this weekend. that wasn't. well, that was me. the kids were trying to push back the yahoo's. but a foil and everyone's trying to figure out eyes and just can't feel like they're dead. they're internet superhighway room killer this point in time. they're be

buffett embraced this one. there's not an awful lot outside of when he jumped into apple because of his portfolio managers, there's not an awful lot of tech in warren's portfolio, but he was a true believer in this one i think you are seeing that play out to a number of other managers today, scott. >> and maybe, just maybe mike santoli, who is with us now, our senior markets commentator, this is a sign of where risk sentiment is, and the reaction in a snowflake can tell a lot. >> yes, scott, it is getting some traction. now, obviously you have to kind of look within some of the intraday action, some of the multi-month action in the context of a long trading range to see, in fact, you had risk sentiment maybe make a little bit of a bottom in some of the high-growth names, maybe like snow snowflake. the russell 2000 has gone flat sideways but it looks like it is getting compressed and we got a big pop in the index yesterday micro caps yesterday as a group up 3% versus 2% for the small caps so it seems as if there

there's also warren buffett's money that's going to continue to go into that fund one of the reasons that the gates's have said they haven't been giving more to that fund in part is because they're getting that money from warren and that it's hard to give away money so the separate question to me bams do they start using some of their own funds for other proj snekts as you know, we've talked about bill is obviously very involved in climate and also in alzheimer's. those shall iruse that are completely -- that have always been done outside of the foundation pivotal ventures which is melinda's group, focusing on family and mothers has existed that has all the business interests. we haven't talked about gates ventures which is his venture capital arm and how that plays out. but, you know, when you look at other i hate to say divorces because every divorce is a family affair and as i was saying in the last hour, a ter terribly sad affair no matter how much money you have. the question is what do you think the long-term implications are. bezos has become it's sort of changed giving do you

. >> bill: warren buffett said saturday we're seeing substantial inflation. he said government is not talking about it but we see it. do you? yes or no. >> no, not yet. >> bill: not yet. >> i'm assuming if warren buffett said it we'll see what happens. i don't want to question warren buffett. >> dana: we'll see. we're glad you came on the show today. bereally need more people from the great state because i love your accent. >> bill: we'll talk again soon. >> absolutely. >> all of a sudden you are hearing people talk about critical race theory, people who have no idea what that term means or trying to ban the 1619 project because it is trying to do exactly what you are saying, which is to actually teach factual version of oppression in america. >> the president of the second largest teachers union in america defending critical race theory in school curriculum as some parents in california say public schools are teaching students to hate america. jonathan hunt is live in orange county, california with the story. >> this is a debate going on across the country p