40 Burst results for "Buffett"
Latest IRS Scandal Coincides With Biden's Plan to Increase Taxes
"The eye ours. Government agency can ever trust them either. Did you see this story in the journal today? Wall Street Journal Return to the IRS scandal. Propublica apparently got ahold of a bunch of tax return information for the wealthiest Americans. Jeff Bezoza, Warren Buffett and you know when your institutions are collapsing, and you have a media enterprises doesn't care. They should be asking the question like Hey, listen, I am no fan of Jeff Bezoza at Amazon, Believe me. Jeff Bezoza as an American citizen entitled to Big Our God given rights. It's not just well, I don't like this guy's politics so he doesn't have the rights I have. That's not the way rights work. Who the heck of the IRS leaked a boatload of their information to Propublica. Whether you think they should be paying more taxes, less taxes, no taxes, whether you think we should confiscate all their wealth bezoza buffet. Otherwise they are entitled to the secrecy. You're entitled to when your tax return. And somehow that information leaked out of the IRS. What did I tell you? Institutions are collapsing everywhere. And why did that information leak out? Let me read to you from the journal Cause this is fascinating. They say, quote allow us to fill in the last blank. This tax league story arrives amid the Biden administration's effort to pass the largest tax increases to share the economy since 1968 What a quickie think folks. The main Democratic argument for a tax hike is that the rich should pay their quote, fair share. Propublica story is a long argument that somehow the rich don't pay enough. The timing here is no coincidence,
Fresh update on "buffett" discussed on Safe Retirement Solutions
"To help you do you know? Almost no one knows how wonderful these plans are. You know why? It's because the government places tight restrictions on the advertising of these accounts. Even though there are 100% legal. Now, why does the government and the I R arrests? Wish to keep these accounts a secret. Well, we're going to talk about that a little bit later in the show. Have you heard of the power of zero? Did you know that you can build an income tax free retirement under many circumstances if we can show you how to reduce your income tax liability to zero in retirement. At the very least, when you want to take a look at that, absolutely and one and I had to do that have a tax free income. And I'm not talking about Roth IRAs, right? We're talking about Unlimited wealth, things like the Warren Buffett and Bill Gates and the Rockefellers. Uh, would you like to know how to do that? There's a no cost or obligation to you. We believe when you once you find out the this information you will and we have so many clients that do this. You will be so pleased with the information. That we show you that when we get done, you will tell your friends, your family, your neighbors all about the strategy and how to have guaranteed retirement income. That's tax free. Well, we're coming up on a break. I'll tell you what. We're going to take a break, but stay tuned. I'm going to go into a lot more depth on this. When we get.
"buffett" Discussed on Adventures in Finance: A Real Vision Podcast
"Yeah i think the way that you described it of you want to buy back your own stock when it is at a discount is the good way to look at it. That's the way that warren buffett would described. I think too many executives and buffalo point this out used by backs as a tool to goose their earnings per share one thinks of a company like general electric where they buy their company stock at expect at highs and therefore they die loot even though the temporarily decrease the number of shares. It's actually bad. Because they're paying way too much for their own stock I think in his annual letter of warren buffett noted that he you know he noted that changed that he really does Like buyback x. And that he values them as a tool to increase shareholder value. I think he's seen what it can do with apple and he noticed a double phenomenon. How apple's buying back its own stock and then berkshire owns apple and berkshire buyback zone. Stop and you get these compounding facts upon compounding effects. But ed so that's berkshire.
Fresh update on "buffett" discussed on Networth Radio
"Warren Buffett issues a letter once a year. That's right, Alex once a year now. This letter is a go to for NBA classes for people that want to be in the investment business, and I'm gonna I'm gonna explain why, and we're going to go through the most recent letter. From Berkshire Hathaway. Warren Buffett, Okay. And This track record goes back to 1965. It's a pretty long track record cover Jim Simon's track record, uh, which is a 30 year track record, and we covered it all the way through 2018, Okay? Warren Buffett is on that list, along with Peter Lynch, Ray Dalio's and we love to study great investors. And this is the greatest track record over that time. Matter of fact, it's one of the only continuous track records over that time, right? And okay, so if we go to the bottom line 1965 and he compares his performance to the S and P. Everybody want and I'm about to get to this. Everybody wants at least the index performance until the index is down right back to Everybody's got a plan until they get punched in the face, and they're like, Oh, no. I want to beat the S and P, And I never want to go doubt. Yeah, well, that's why cash flow matters and we're going to hear that as we go through this thing. Okay. What's his track record from 1965 through 2020 alright, compounded annual gain 20% but overall gain overall gain. 2,000,810 526%. That's 2.8 million%. That's percent. That's a lot of percent. Okay, 20% compounded. So arguably the best track record over that time period. Uh and and I've studied this. I'm pretty sure that that's that's the best. And what the S and P do over that time period. It averaged 10.2% or 23,454%. Okay, Total return. I have some key observations. What was his worst year? All right. His worst year was a minus 48.7. And he had it well, he preceded it with, uh, minus 2.5. So you would have had to lose over half your money. Right. And then what do you do the next year? 2.5% and then he had 100 and 29% return in 1976. Okay, So finally, so, really, if you go, 1973 The end of 72 until the end of 75. The average was still about 5% after the rebound, but the drawdown was over half I'm just saying there's okay. The now the absolute worst year I found was 1994. 1995 My or no, No, That's one of the best years 57% the other lagging time period. Was actually the 19 from 1999. Right. 2000 was a minus 20 about like the S and P 2000 was a minus was a plus 26, Then a 6.5 minus 3.5. So it was really, uh, minuscule track record. For those four years. So you had to put up with making pretty much no money for four years. Yeah, okay, just saying now that was during a period that was the tech wreck. All right, so those are important. Those are important time period minus 32% was actually 2000 and eight. The S and P was down 37, but that's no consolation, right? Nobody wants to go down by a third. No, that's right, and we bounced back. I had a key point. We bounced back to record profits in 2000 and nine he was down 2.7. Okay now sometimes he wins, and sometimes we win, and we're determined to win again like the next 10 years. When I did the analysis of this and you're I believe you were on the program. Uh, you know, we took the 10 year track record, and this was we had actually won Because we bounced back faster and we had yield. Okay, So the high yield strategy worked a lot better than Warren Buffett. The shares of Berkshire Hathaway during that period. Okay. Key quotes from the reading of Warren Buffett's letter. I read it. He didn't mention Oxy. By the way. He does mention his mistakes. So cover his mistake If you will. Yeah, so he purchased, um precision castparts. PCC, and he just says, because I paid too much for the company. Don't nobody. Nobody tricked me. He's wouldn't misled he goes. I was just too optimistic about the potential for the company and, uh, He got caught aerospace industry pandemic, right, unforeseen circumstances, but he paid too much to make it through that trough, but he just wrote it down by 11 billion. I don't think he sold it right, right. This is who and it was a mistake I made in 2016. That's what he said. Right? Now. He doesn't mention the mistake of Occidental yet, Okay? Because he put He loaned 10 billion to Occidental for their acquisition of Anadarko at the wrong time, and he got a warrant on the shares of Occidental it like $60, or so and, of course. It went way below that I went below Tan. Uh, but he still has a high yield guarantee of 10% interest. And if Oxy ever goes over 60, then he gets additional gains on top of his 10%. Yeah, I'm just saying, that's not a bad deal. No, he's getting 10% interest and he didn't write that one down because it looks like they'll pay. Okay. What's the next quote? All right? Last year, we demonstrated our enthusiasm for Berkshire spread of properties by repurchasing Almost 81,000 share a shares spending about 25 billion in the process. Um, he has.
Greg Abel to Succeed Warren Buffett When Berkshire Hathaway CEO Retires
"Has some big shoes to fill. The Berkshire Hathaway vice chairman will succeed billionaire Warren Buffett as CEO. Buffet confirmed the succession plan to CNBC after Berkshire's Charlie Munger spilled the beans during the company's annual meeting over the weekend. 90 year old buff, it says while he has no plans to retire, if anything happened to him, Abel would be the one to take the top post that
Fresh update on "buffett" discussed on Prosper
"Taxed cash, dividends or tax gains from selling assets or tax. But if a taxpayer hasn't sold anything, there's no income in therefore, no attacks Now once that rule was established. Obviously rational people with sizeable assets would naturally act in a way that would minimize your tax liability. Anyone could live upon the value of the company's stock without selling it, of course, and without ever paying tax. Most Americans have to work to live, and when they do, they get paid, and they get tax. The federal government considers almost every dollar workers earn to be income and employers take taxes directly out of their paychecks. But the billionaires of the world don't have to get a salary. Jeff Bezoza. Amazon wages have long been said at the middle class level around 80,000 year. I mean, for years, there's been something of a competition among elite founder CEOs to go even lower. Steve Jobs took $1 in salary when he returned to Apple in the 19 nineties Facebook. Zuckerberg, Oracle's Larry Ellison and Google's Larry Page have all done the same. Yet this is not the south facing gesture appears to be wages are taxed at a high rate. The top 25 wealthiest Americans reported 158 million wages in 2018. According to the IRS data. That's a mere 1.1% of what they listed on their tax forms as their total reported income. The rest mostly came from dividends and the sale of stock bonds or other investments. Which are taxed at lower rates than wages. The 4.25 trillion and wealth held by US billionaires. Some 2.7 trillion is unrealized, according to Emmanuel, Say, as in Gabriel Zuckman, economists at the University of California, Berkeley. Warren Buffett doesn't pay dividends in his Berkshire stock. He thinks that there's no reason to incur the tax liability. But what people are doing is, according to California tax law Professor Edward McCaffery, They're buying, borrowing and dying. Right, so they buy the invests in stocks, real estate and their companies and when they need money, they borrow interest rates for like next to nothing right now, and they don't realize any capital gains. And they have access to all this as well. That isn't taxable, and then eventually they die, and they get a step up in basis, And that means they don't pay any tax at all right on all the gains, it's all tax free, Amazing. Supposedly they have to pay a state taxes. But you know, even the wealthiest are avoiding that. You know, Warren Buffett's donating most of his money to his foundation or other charities that you know will avoid a state tax altogether. And so while that's good for society, but it doesn't help fund the federal government. The reality is that people have accumulated wealth will try to hire advisors so that they can help them keep as much of that wealth as possible and not give it to the government and we are those advisers. We spend a lot of time understanding the nuances of the tax code and helping our clients allocate their assets in such a way. To mitigate the tax liability on their income and on their assets for them and their family. And there's something wrong with that. It's the speed limit on one road is 55. The speed limit on another road is 65. There's nothing wrong with driving 65 on the road with the 65 Mile an hour speed limit. Similarly, if you sell a stock or a piece of real estate for a big profit, and you spend the proceeds were leaving the bank, you're going to owe taxes. But if you reinvest the profits and an opportunity zone, or maybe you do a 10 31 exchange on real estate, you won't have to pay the taxes and that's the law that Congress made, and if you follow it to your benefit, there's nothing wrong with that. If Congress allows wealthy people to increase their wealth without paying taxes, as long as they don't sell, where they follow other procedures, and that's the law, and if they change the law, people will adjust. But if you're the kind of person who likes paying as little tax as legally required, and you value advice on how to position your assets to encourage little tax as possible cost at 866 wealthy that's 866 wealthy and we will review your assets and help you make the right decisions and use the right strategies. To help you accomplish Just that. So calls at 866 wealthy. That's.
Index Funds and Chill
"At the start of the pandemic every person on twitter with deming me slipping into those. Em's about hot stocks. They're like nicole. Should i buy xue. What are your thoughts on. Peleton net flicks is killing it right now with. Everyone stuck at home watching it. Should i buy their stock. To all of those folks who said it was their first time getting into investing is said hell to the no no investing in individual stocks and i repeated the title of this episode to them index funds and chill warren buffett. He has a very smart investor perhaps best of all time said the greatest investment americans can make is putting their money in low cost s and p five hundred index funds and when the greatest investor of all time speaks. We should seriously listen so. Let's unpack what he said. An index is a collection of different stocks by a certain set of parameters. So what does that mean when you hear the stock market report saying the dow is up blah blah blah the s. and p. Five hundred is down blah blah blah. The nasdaq is blah blah blah level. They're talking about the three main indexes the dow the s&p five hundred and the nasdaq now the dow jones industrial average or just the dow for example tracks the thirty biggest stocks in the united states including ones like apple and microsoft dizzy the s. and p. Five hundred is made up of recently five hundred and five stocks which is annoying to my organizational. Put it in a bento box praying. But i digress there. It's made up of different large cap. Companies or companies with a value of more than ten billion
Fresh "Buffett" from Safe Retirement Solutions
"Smokey Robinson and the miracles. Chris knows that, you know. How do you know that, Chris? Okay. Because because he's old. Yeah, he isn't old. That's that's why I don't understand why he knows them all. Hey, Did you hear this? Victoria's secrets, right? Yes, known for their beautiful models strutting down the catwalk in their lingerie. Come on, you know that You were looking at the catalogs as soon as they came in the mail. Remember that It works? Yeah, well that that's 2021 now and the company's going in a new direction. They're getting rid of the angels, and they're bringing in, uh, purple haired Megan Rapinoe. Uh, the, uh Rapinoe. Is that her name? Rocker player. Okay, there, soccer player. Yeah, right, so purple hair and transgender models. And obese models. Now instead of having beautiful girls walking down the catwalk, So you're not gonna be looking at the catalogue as soon as it comes in the mail. Oh, man. Oh, my God, can you imagine? And according to their chief executive, he said that we needed to stop being about what men want and to be about what women want. So we'll see. And then that fits right in with a rod. Right? A Rod's got this new makeup line. It's new man's wear makeup line. Yes, seriously. You can see a rod wearing lips taken. Let's care. I thought you said, you're going to say Caitlyn Jenner's doing the runway now. Well, man, you never know. That would be, um, that would be that's sad. That would leave a mark. What man that that That's always hurt. You know. Bruce Jenner. Oh, my God. Anyway, you look at this is really a conservative financial radio show. Um, I'm Rod Borough here with Mr Wade Kaufman. What if there were were a strategy that you could use right now that had guaranteed interest rates in most cases? Absolutely no downside danger. Only upside opportunity for growing your retirement accounts. What if I told you this wonderful strategy would never be reported to the I R s Would you be interested in something like that? What if the strategy allowed its values to be assessed at any time without penalty and always be available? Dorn Sears economic downturns. What would you say? If we told you that you could use the values and retirement to provide 100% income tax free supplement to your retirement that you couldn't outlive? How do you like that Supplemental Income tax free retirement income. Would you want benefits like these for you? Who used to stay kinds of counts. How about Bill Gates? Warren Buffett, the Kennedy family, the Rockefellers, the DuPont family, the Chrysler family many, many more and guess what? They're available for you as well..
Home Furnishings on Fire (in a good way)
"Actually going to start. Inside the home with the latest results from restoration hardware holdings the fourth quarter capped an absolutely fantastic year for this company profits and revenue were both higher than expected strong demand for the high end furniture and rh management expects revenue for the current quarter to grow significantly and not a surprise that shares of our. Hr up a little bit this morning up a little bit after being up plenty Going into today and things other than a little blip down for just about everything a year ago You know it's it's just been been great. Although so for the for the year of revenues were only eight percent And and basically the stock has doubled from where it was a year ago. Or a little bit. More than you're if you're telling you like charts for exactly a year ago. They all look amazing. So you have to back up to two february to get a fair comparison. There are about double the where they were in february. And it's mostly a margin growth story Rather than you know the top line top line only up eight percent but margins have just improved dramatically. And they're up The gross margins up five hundred and forty basis points and the justed margins up seven hundred fifty basis points that are just making about fifty percent more on every sale and the sales are up a little bit sales. Look like they're going to keep moving up And and i think Warren buffett very happy shareholder having bought into this About a year and a half ago and has done triple his money.
Fresh update on "buffett" discussed on KTOK Programming
"Warren Buffett, or if you Jimmy Buffett in the rich man, nobody knows if the stock is going to go up down sideways or in circles. Are you concerned about long term care if you are, then you're also probably concerned about paying the high cost of long term care coverage and increasing rates. Some long term care rates have increased by as much as 40%. What if you could cover some or all of your long term care costs without paying a single penny in premiums?.
Warren Buffett's fortune tops $100B as his stock soars
"Warren Buffett. Come on down and welcome to a pretty exclusive club. After Berkshire Hathaway stock went up this week, it's CEO Warren Buffett saw his net worth go up. I nearly $2 billion Giving him a net worth of more than $100 billion, according to the Bloomberg Billionaires Index. That makes him just the sixth member of that $100
Jigar Shah Explains His New Role as Director of the US Energy Loan Programs Office
"Let's just start with the news. I mean what are you going into government to do. What is the loan programs office. Functionally help us wrap our heads around. What your role will be well. We've talked a long time about the role of the private sector and how much the private sector can do to ramp up these solutions But i think we've also acknowledged that the federal government has to have a large and important role in order to really get to what we all say. We wanna do right. Which right now is to reduce carbon emissions by fifteen percent per year right to reduce carbon emissions by fifty percent by twenty thirty and so the loan programs office does a small piece of that right. I mean the federal government is large and has many programs but the loan programs office basically is this bridge to bankability. I think it's most famous for Clearly the tessalone but the other thing. I think it's most famous for is providing. Many many loan guarantees for wind and solar projects in two thousand nine twenty ten when frankly wall street banks did not believe that. Wind and solar utilities projects were bankable. I mean they were so skeptical of wind and solar projects. Being bankable if you remember sunpower and first even with the loan program office guarantees had to sell their projects At a much lower price than they thought they could get to warren buffett in twenty thirteen because he was the only one that was buying and he made you know twenty plus percent returns on those projects. David crane bought one number at energy. It wasn't until probably twenty fourteen that you started to see the that bridge to bankability actually get completed and solar and wind projects being fully embraced by private-sector capital and so my sense is that we need to build you know a hundred more of those bridges for technologies that many of us actually already thinker mature. But you know aren't being treated that
Apple bounces back after a rough last week, 270 stores reopen
"Apple bouncing back after a rough week last week. This comes after Berkshire Hathaway Chairman Warren Buffett saying in his annual letter to investors published this weekend that His investment firm owns nearly 5.5% of Apple, mainly because Apple's been repurchasing their own stock, So his percentage has gone up to also apple announcing that all of their 270 U. S. Retail stores are open for business. Some of them are appointment only, but they are all Open for
Apple stock has biggest day since Oct. 12 after Buffett endorsement
"Chairman Warren Buffett saying in his annual letter to investors published this weekend that his investment firm owns nearly 5.5%. Of Apple, mainly because Apple's been repurchasing their own stocks of his percentage has gone up to also apple announcing that all of their 270
Buffett is buying back more Berkshire stock this year after record $25 billion repurchase in 2020
"Berkshire Hathaway said today. It brought back a record $24.7 billion worth of its own stock last year and said there's more to come The conglomerate said it repurchased a total of $9 billion in the fourth quarter.
Buffett's right-hand man says US stock market is overvalued
"Says Robin Hood markets and other brokerages attracting inexperienced investors are essentially offering quote gambling services, and I found a dirty way to make money. 97 year old Munger made the comments of the annual meeting of Daily Journal where he is chairman. Stocks Enter the Trading day in record territory. The Dow Jones industrial average closed
If You Sell Your Bitcoin, Michael Saylor and Jack Dorsey WILL Buy It
"Before powell spoke investors had started to get nervous in the us around the potential for an early unwinding of the fed's extremely aggressive approach to keeping rates low and stimulus etc. Because of this the market was getting out of stocks and into treasuries driving the yield of treasuries down and by the way if that sounded like greek to you. We're actually going to do a macro one show. And a bond specific show as part of that new kiddo show set as well either way powell gave testimony to the us senate banking committee on tuesday and said that the economic recovery remains uneven and far from complete and the path ahead is highly uncertain the bloomberg headline this morning about it said powell reiterates view that labor market has a long way to go. Pow pointed out that there are ten million fewer people employed. And that's a long way to go to maximum employment and this is really important the mandate the fed is actually two parts market stability. But it's also full employment the tools however that they have to achieve that full employment are limited and what we've seen is that asset prices tend to benefit before full employment is reached over the course of this year. We're likely to shift from the market stability part of that equation to the full employment part of that equation but it still promises a pretty aggressive approach from the fed powell also mentioned digital currencies saying it's a priority and that they'll be reaching out to congress about it in twenty twenty one so we'll have to come back to that soon next up on the brief today trouble in arc land i have discussed kathy would and arc pretty frequently here most recently in the episode last week i find it interesting. How a lot of the macro dynamics that are potentially interacting with bitcoin might be interacting with arc funds as well arc has seen a stratospheric rise over the last year but has been hammered. The past few days in fact it started a couple weeks ago as people started to get nervous about how concentrated arcs of some of their companies were remember. Our funds have specific feces around innovation. So there are frankly. Only so many companies they can buy if their fund owns to high percentage of those companies. The fear goes it could create risk in both directions that an issue in one company could create broader risk for arc or vice versa that arc could create new exhaustiveness risk for the companies themselves over the past few days however the concern has been less about that and more about this rise in treasury yields the innovation. Etf which is their flagship. Fell three sessions in a row. It had its worst today. Drops in september and again basically these yields were reflective as we just discussed of investors thinking that there was going to be pressure for rates to rise and for fed support on wind earlier than expected because of that they were moving out of the pricier parts of the market. I e tak. Now for her part. Kathy would said she wasn't worried said that she welcomed the correction and to be fair. She's gone from three billion assets under management in january twenty twenty two more than thirty in january twenty twenty one to more than sixty billion last week still. I think this is worth watching as a reflection of the bleeding edge of the markets. I don't think. Bitcoin is so correllated that you can watch these things move in tandem. But i do believe that. There's some proxy for how traditional investors might think about bitcoin at any given time based on the macro context lasts up on the today. Let's talk about the latest out of india. India as we've discussed has been very aggressive. Vis-a-vis crypto currencies with that seeming to only heightening right now a couple updates from the last few days rakesh ginger who's likened to an indian warren buffett. The billionaire investor he told. Cnbc never buy bitcoin that. Regulators should step in and ban cryptos in india and called bitcoin speculation of the highest order. So pretty much that. Warren buffett description is accurate at least when it comes to opinions on bitcoin at the same time however he also stated that india should focus on the creation of an official digital rupee. This was echoed by comments of reserve bank of india governor who reiterated that. The rbi has major concerns around cryptos but that they are working aggressively on a digital rupee. I wanted to point this out. Because i think it shows just how much india is going to really draw. This contrast between killing cryptos private cryptos and network cryptos while simultaneously trying to harness that momentum for an official central bank digital currency is that paradigm. That one can't survive while the other one does or are there different ways to look at
Elon Musk - The Man Behind Tesla and SpaceX
"Well who's elon. Musk well if you don't know you're gonna find out right now. There is so much news internet entertainment on ilan mosque. And i want to tell you that this is only the basics of aeon. Musk who he is. There is plenty to find out about him. I will leave some of the links and the show notes. So don't forget to look but who is elon. Musk and how does he lawns story began. Well he is a visionary entrepreneur and the co founder of paypal and tesla motors as well as the founder of the new space x program which is very popular to day his astounding success has given rise to comparisons to the uniqueness of howard hughes and the tenacity of a henry ford but he did have an often difficult childhood like most of us kids his own age made fun of him from his own descriptions the years were lonely and brutal alon is quoted as saying they got my best friend to lure me out of hiding so they could beat me up and that hurt. That's when i realized that they were going to go after me non stop. That's what made growing up difficult for a number of years. There was no respite. You get chased around by gangs. These gangs tried to beat the insert. Swearword here out of me. And then i'd come home and it would just be awful there as well but not all was wasted. This difficulty cultivated itself into a relentless work ethic a never ending tenacious vision of the future. You see enron was born and raised in south africa and he spent some time in canada before finally moving to the united states thin and the united states. He was educated at the university of pennsylvania. A very good school majoring in physics. That's when ilan started to excel and experiment to soon. Become a serial tech entrepreneur with early successes like zip to an x dot com. He took on two majors at the university of pennsylvania but his time there wasn't all work with a fellow student. He bought a tin bedroom fraternity house which they used as an ad hoc nightclub will. Musk graduated with a bachelor of science and physics at all as a bachelor of arts in economics from the wharton school for ilan. Physics made the deepest impression. He is again quoted as saying and somewhat giving directions to boiling things down to their fundamental truths and reason up from their. Musk was twenty four years old when he moved to california to pursue at phd in applied physics at stanford university with the internet. Exploding in silicon valley booming. Musk had entrepreneurial visions on his mind and dropped out of the physics program just after two days but in two thousand and four. Musk joined to engineers to help. Run tesla motors. You've all heard of tesla motors right. Well this is where. Musk was integral and designing the first electric car. There's no doubt the electric car is the car of the future. But his first car the he designed was the tesla roadster as we are all aware of the tesla has become one of the world's most popular and coveted car brands and is still growing in popularity in the united states and in many different countries tesla and the electric car are taking over but we must never forget about musk's early interest in reading philosophy science fiction and fantasy novels and how that played a big role. I mean a huge role in the inventor that he is today. It is reflected in his sense of idealism and concern with human progress. He aims to work in the areas he has identified as crucial to our future specifically the internet. The transition to renewable energy sources and space colonization and. Ilan has been all over the media. Making three podcast episodes on the joe rogan experience while the first one in which he smoked. Marijuana was pretty funny but in a maximum article. I found this elon. Musk's third appearance on the joe rogan. Experience podcast the genius. Tesla and spacex. Ceo did reveal intriguing plans for a floating tesla. Musk revealed that the long awaited second generation tesla roadster could have a space x package that would allow it to hover at a limited altitude above the ground. Something that we have never seen before with all these new inventions floating around. Is it any wonder why everyone is watching. And curious about ilan's next big thing. Well at tesla fans are awaiting the cyber truck which will make an appearance at the end of twenty twenty one and the exciting numbers are in for ilan's wealth elon. Musk started twenty twenty with a worth of about twenty seven billion dollars and was barely in the top fifty richest people then in july of twenty twenty. Musk past warren buffett. The great billionaire to become the seventh richest person in november. Musk raced past bill gates to become the second richest person. Musk has gained more wealth over the past twelve months then gates his entire net worth of one hundred and thirty two billion dollars and according to cnbc elon. Musk just became the richest person in the world. With a net worth of more than one hundred and eighty five billion dollars alone recently had a new marker for his wealth and that is so cool because of all his inventions and his time spent caring and wanting the united states and the world to move ahead has made a name for himself. There is no doubt an increase in tesla's share price pushed. Musk past jeff bezos of amazon. Who had been the richest person since two thousand seventeen. You see musk's wealth surge over. The past year marks the fastest rise to the top of the rich list and history but why because he is investing in the future. It marks a dramatic financial turnaround for the famed entrepreneur. Because he cares about what happens in our future so with all his wealth experimentation and knowledge elon. Musk is our future and for those. That are young enough to dream about being an elon. Musk it must start with your curiosity with reading and learning more and more about new and different things and that i want for you and your children now and in the future.
What's on Your Life Resume
"All right. Let's strip it down. Die right in as alita whether you're a ceo someone in the c. Suite a sales leader or leader in any capacity in a marketplace where everyone from entry level to see is changing jobs and careers faster than every point in history. We better have a great resume. But i you actually focusing on the right things and what does it take to build a resume that is relevant in order to in order to make the impact you one of make. Well stay tuned because you're bound to find out our guest on this episode is jesse iceland. Jesse is one of the most impressive resumes out there. He started the world's first private jet company. Machi jets became the world's largest private jet cod company with a five billion dollar come consummate sales prior to the acquisition by warren buffett's company. He has partnered him and his sold zico. Coconut water to coca cola. Here's the number one bestselling author of living with a seal and his latest book living with the monks. He's run a hundred miles nonstop and he's passion for football is made him one of the owners of the atlanta hawks so he and on top of all that. If there's no pressure enough he's also the data four and he's married to the spank founder. Sara blakely why isn gentlemen put your hands together a welcome to have your make took a while to get this to happen them. Really happy that you're with us. Thank you thank. You think it'll be man appreciate you have miat. It's an absolute pleasure. Now you are a guy who has to say has lived outside of the box is a is a gross understatement on through also speaker endurance athlete. You even a rapa. Most people probably wouldn't even know that because they're probably too young to know that you've done all that and at the same time one of the things you know what i speak about is being an authentic leader and one of the things that i've watched as i've watched over your history over all those years is changing. Hack your change. The way addressed bit. But jesse seems to have stayed the same told to us about the poll and the pressure to be something else. Start marquis jets. You probably felt puerto of suit and tie stain staying authentic. Yeah i think one of the reasons by the successful marquis jet in these other ventures. I've been able to fight through that impulse to to be something out. Not so i've always stayed in my lane by lane get a little bit different a little unconventional unorthodox. But it's my lane. And that's where i'm most comfortable in and I've always been able to keep my own spirit throughout all my different journeys. I've worn a lot of different hats. But i never really conform been you know one of the early lessons. I learned as an entrepreneur is the importance of differentiation in You know bor- boring doesn't really work. Always tried to not just be myself in. Its works for me and I always. I'm always asking myself of how different. How different house might teach different. But it didn't authentic way too so going back in time because you know i read about you being a couch surfer with revolt on a spot. Oh the council along the way while really sort of looking for yourself. is that pre the rap days aura. That after that no stink between the ages of nineteen to twenty two. I slept on. I think eighteen different couches. My friends couches all the way trying to figure out. Exactly what that may looked like for me Trying to land on my feet at a lotta egg on my face early at a lot of egg on my face later on in my life. I've had some big wins but part of the journey is having lost. His two and i was lucky man. When i started out i started out in the music. Business no connections my father on the plumbing supply house and i lived in la. I got signed to a record label. I got dropped from the label. And i moved back to new york with two things on my resume i was a kiddie pool attendant and i was rapper. That was going to get a job on wall street. So i relied on friends to take me in until i kind of found my way so i never forgot that. I've never forgot the opportunity that was afforded to me about people believed in nate. Even when i had nothing was a big part of of what ultimately shaped me a lot of times in my journey even marquee before the five billion sales that you mentioned there are a lot of times where this is gonna work. I can't do this. I'm not qualified No aviation experience. We had no airplanes while we started and But through that young those early days of couch surfing as you like to call it it. The tremendous guilt adjustments medic grit. And that was probably the number. One is saying grits the number one indicator of future success. But for me. That was a big a big thing that never accurately man even now still had shot mentality. That never left me
10 Trivia Questions on 2010s Musicals
"We're going to jump into ten questions on musicals from the two thousand ten's right about now here. We go all right. It's two thousand ten's musical trivia and on this round we are going to give you two songs and the characters who sing those songs in your do. Tell me what musical it is from the last ten years. Here's question number. One world's greatest dad by buddy and never fall in love by jovi. What is that musical with those characters and songs number one world's greatest dad by buddy and never fall in love by jovi an musical number two one perfect moment by campbell and we ain't no cheerleaders by danielle nautica and last sienna number two one perfect moment by campbell and we ain't no cheerleaders by danielle nautica and la sienna number three. That's rich by medha and king of new york by race catherine davie and less number three. That's rich by medha and king of new york by race catherine davie and less number four on your list. We have a song call impossible slash possible by marie and ella. And there's music in you by marie number four impossible by impossible slash. It's it's possible by marie and ella. And there's music and you by marie number five anywhere but here by a character named j m berry and we're all made of stars by the un davis boys number five anywhere but here by j m berry and we're all made of stars by the davis boys and number six. What's inside by jenna. And any and i love you like a table by ogi don and company number six. What's inside by jenna in company and i love you like a table by ogi dawn and company number seven. Belmont avenue by the wop guys. Kala gero at ensemble in these streets spy. Lorenzo sunny rozina an ensemble number seven belmont avenue by the duo guys Kagoro and ensemble and the streets by lorenzo sunny recina and on samba l- three more musical sets of songs and characters to go by. Let's see what you know about number eight. Why don't we get drunk by jd. And ensemble and cheeseburger in paradise by brick. Tammy and ensemble number eight. Why don't we get drunk by jd. And ensemble and cheeseburger in paradise by brick. Tammy and ensemble and number nine. What i know. Now by miss argentina and ensemble and day o the banana boat song by delia. Charles maxi and maxine and number ten cooking montage slash easy peasy by daniel and ensemble and she deserves a real man. By stewart and male ensemble number. Ten cooking montage slash. Easy peasy by danielle daniel and ensemble and she deserves a real man by stewart. Male ensemble all your songs and characters from two thousand ten's musicals for general jenner. We'll be right back in. Just a second with the answers to those musicals. We are back with the answers to two thousand ten musicals. Let's see how well you know the musical of the last decade or so number one world's greatest dad by buddy never fall in love by jovi was elf elf based on the two thousand and three movie. There's a great documentary about how that got made on netflix. It's called the holiday movies that made us go watch. That one is pretty number. Two one perfect moment by campbell and we ain't no cheerleaders bhai danielle nautica in last sienna is bring it on the musical. The cheerleading movie comedy made musical number three. That's rich by medha and king of new york by race catherine davie and last that's newsies newsies about a bunch of newspaper selling boys and number four impossible slash. It's possible marine ella. And there's music in you. By marie that is cinderella the musical which at one time starred my friend gi palmer. I think one of the backup. Replacement cast members of the lead role of cinderella in that movie palmer number four number five in that movie in that musical is what i'm at number five anywhere but here j. berry were all made of stars. The un davis boys. That's finding neverland number five finding neverland and number six. what's inside jenin and company. I love you like a table. Ogi dawn and company. That's waitress a pie. Selling and serving movie made musical waitress number seven belmont avenue and the op guys calogero and ensemble in these streets by lorenzo. Sunny rozina and bill is a bronx tale. A great movie with robert deniro. That was made into a musical about ten years ago and number eight. Why don't we get a drink. The jd and ensemble song and cheeseburger in paradise by brick brick. Tammy and ensemble. That's escape to margarita. Ville jimmy buffett number eight number nine. What i know now. Miss argentina and ensemble day. O the banana boat song. Delia charles maxi maxine and ensemble. If you know the movie you could against this one. It's beetlejuice the musical number nine and number ten last but not least cooking montage an easy peasy with daniel and ensemble and she deserves a real man with stuart and male ensemble. That's mrs doubtfire. Mrs doubtfire and now you know ten questions answers for gen jar about two thousand ten's musicals. Hope he had fun trying to figure those out. We have one more thing for you. Call the fact that the day the fact of the day is the last letter added to the english alphabet wasn't z. It was actually the letter j our tenth letter of the alphabet. Jay was the last one to be added just like hawaii was the fiftieth state. Our last state in the us there. You have it
What to know before the stock market opens Wednesday
"One big question, I think that a lot of people's minds with the news overnight out of Georgia and it looking Maura and Maura, like Democrats will control the Senate along with the House. And then, of course, the White House after President elect Joe Biden is sworn in on the 20th. What does that mean for the markets and for the economy? Well, we've seen some volatility in recent days, just based on uncertainty on duh. I think you know there's likely to be, you know, a few different reactions and play. But, you know, I think for someone investor's standpoint, you gotta continue to focus on the long term and long term. Statistics have shown that whether it's a divided Congress or not a divided Congress. Long run markets go up either way s O, you know, buckle the seatbelt and just kind of ignore short term volatility or whatever political posturing, you know, you know, but maybe maybe happening. That's you know, likely to Buffett markets up and down and short term, but you need to maintain a focus on the long term goals. The other thing is that just from an interest rate standpoint, um you're much of it is really hinged on the said on DNO, not on Congress so, but the Fed pledging to keep interest rates low, with the Fed continuing to buy $120 billion a month and long term bonds. We've got an environment of ultra low rates for throughout 2021. How important was it for Congress to pass that latest round of stimulus that relief package? How important was it for the economy? Huge on do you know? Unfortunately, it probably isn't even enough to kind of get us to where we need to be right now that I think the timetable of mass vaccinations by the middle of the year That's the gap. We need to bridge from an economic perspective businesses and if small businesses in particular, and a lot of households that were really hurting financially that you know for months had been kind of running down. Their their savings, exhausting unemployment benefits. It's you know, it's a welcome relief to have that extended But those unemployment benefits that have been extended till March. You know that's not gonna that's not going to get us to where we need to be So in the short term, it was a huge help T the households and small businesses that were on the brink. But, you know, I think we're kidding ourselves. If we think that that's gonna be sufficient to get us to the other side of this I'm joined by Greg McBride, senior vice president and chief financial analyst for bankrate dot com. With the Democrats likely holding power at all levers in Washington, D C moving forward, there's a likelihood that there will be Maura relief coming. Do you think that will be welcomed by the markets? Yes. Now I think you know the counter play to that is that you know, you're also likely to see some concern about growing deficits might fuel inflation down the road. So and and that can have the opposite effect on the stock market. So you know it's one of those where you no way see this where you know the market could be up Big one day and then it's like you know, the referee comes out from under the hood and says after further review. The call has been reversed. And then the next day the market goes down. Right. So you know, markets that embrace one thing One day, you know, could look at it is, you know glass being half empty the next day, or vice versa. That's kind of speaks to that volatility in the short term that I was talking about, But you know, long term, particularly with mass vaccinations. We get the faster pace of economic growth in the second half of the year. You know, I think that's when when things really, you know, we start to kind of grab a higher gear economically, You know, I think you know that That's that's really you know what's ultimately gonna gonna do? That's really the most important thing moving forward. I mean, obviously, the political situation in D C is gonna have an impact. But it really comes down to the vaccination distribution and how quickly we can ramp that up. Yeah, that's the hub of the wheel economically, you know, and it's you know, I mean, listen, if you you know if you did a rip in Winkle and fell asleep for a few months and then woke up, you know again, it's going to be still the vaccinations and the progress there. That's really going to be, you know, dictating not only the health of the economy, but you know, ultimately what we see as a result. With the financial health of households, businesses corporate earnings in the markets themselves.
Health venture led by Amazon, Berkshire, JPMorgan is ending
"The joint healthcare venture between three of america's most powerful companies amazon j. p. morgan chase and berkshire hathaway is disbanding after three years high profile. Ceo's jeff bezos cheney diamond and warren buffett had teamed up to tackle one of corporate. America's thorniest problems the high and rising cost of employee healthcare and the initial announcement of this partnership was dramatic shares of other healthcare companies tumbled on fears about how these leaders might find a way to make it all less expensive and more efficient in june twenty eighteen. Becky quick spoke to warren buffett and jamie diamond about their shared. Goals are water of ideas out there. A lot of things will be done better. We know the fraud. The administrative 'cause we overuse underuse of of of various drugs and specialized procedures. We know the end of life is often costs. Far more than should and is far more painful should be So there's so many and big data there's so many things to do but the goal is better satisfaction for employees and eventually we can learn a lot of things and maybe help inform america. How we can improve some of these things. Have you heard from aaron place. Yeah i i Addressed a group of about one hundred and thirty or so of the various. Cfo's from all our subs Just a couple of days ago and and they're very interested in the subject and the interesting thing is as we went around interviewing Large number of perspective. ceo's we didn't run into one. That didn't think that improvement was both possible At important nobody disagreed with the the mission. The importance of it or or Feasible only but it's also a very very tough nut to crack havens initial. Ceo was dr a tool galante new yorker staff writer and surgeon. You've heard him on this podcast several times. He's an expert. In how complicated and tangled the american healthcare system is. It's a maze of doctors. Shirts drugmakers guerande. Step down as ceo to become chairman this past spring as the covid nineteen pandemic grabbed the day to day. Attention of the medical community. As haven shudders most of the firms fifty seven employees are expected to be reassigned to amazon berkshire hathaway and j. p. morgan chase. Here's joe kernan. W toward toward healthcare is hard. It's hard to solve health care. I don't care who you are. I don't care if you're talking about. Yeah i don't care if you're warren buffett jeff. I just hope it's not that you know what we lost a couple of million dollars. We'd better shut this down on those three guys. Diamond was that all three of the companies. Were doing some of their own things That they had taken out of the story tapeworm. That's really tough to when you're talking about more than seventeen percent of gdp versus five percent back in one thousand nine hundred sixty san right james warren buffett and jeff bezos saying. Forget it. we can't fix this problem then. Yeah i mean we talked about how many pay three years this is going to be it. This is going to be. Our problems are over right hi talked. I talked about this on the phone yesterday. Try to understand what happened. And i think becky's right i don't think it was that they shut it down entirely because they were losing money or something. I think in many ways it was designed. I don't want to say it was designed to fail but it was it was it was designed number challenging way which was the big lesson of this was actually insurance is local. These health systems are local. And trying to do it on a national basis with with employees in all different types of locality. all kinds of different systems may very. Well be too hard. I think a lot of the lessons were learned. Have been implemented are being implemented at j.p morgan in areas like new york in columbus ohio. For example. i think you're seeing what amazon's doing remarkably actually in seattle. They're their program therefrom -ployees which also include warehouse workers not just not just executive employees. So i think there are some things that will come out of this but obviously not Not the big headlines that that had been expected three years ago when this began. Let's say amazon has rolled out a lot of different initiatives over the last year or two. I was looking at a store yesterday. That kind of laid out some of those things just the idea of amazon health. The they do it for their employees as you mentioned andrew and i think they have thoughts of of selling that other companies too so i i don't think we're going to see the end of any of these companies or any of these actors trying to get healthcare costs. I guess it's just a question of how you do that. And you're right. It is local. You you've got to do this on a local basis but healthcare costs are are not going down. You know they rise faster than inflation. It's a. it's a huge huge issue More than seventeen percent of gdp and we do have to continue to try and find a way to tackle this
Haven will shut down, ending joint healthcare bid by Amazon, Berkshire, JP Morgan
"Started by Amazon. JP Morgan Chase in Berkshire Hathaway is dead. Executives Jeff Bezos, Jamie Diamond and Warren Buffett launched it three years ago, hoping to transform health care. And reduce costs for workers that their three companies, The Wall Street Journal, says havens goals were too ambitious. It also lost leadership because of the pandemic. You may be paying more for
Haven, the Amazon-Berkshire-JPMorgan venture to disrupt health care, is disbanding after 3 years
"Ventures started by Amazon. JP Morgan Chase in Berkshire Hathaway is dead. Executives Jeff Bezos, Jamie Diamond and Warren Buffett launched it three years ago, hoping to transform health care and reduce costs for workers that their three companies The Wall Street Journal says Havens goals were too ambitious. It also lost leadership because of the pandemic. You may be paying more
"buffett" Discussed on Squawk Pod
"Berkshire hathaway chairman and ceo warren buffett. He joins us on the squawk newsline. Also david salomon. The chairman ceo of goldman sachs goldman by the way is announcing a two hundred and fifty million dollar donation to establish the next generation of the ten thousand small businesses program. Gentlemen thank you both for being here and warm. We'll start with you. You have not spoken publicly since the last annual meeting of back in may for berkshire hathaway. You weren't planning on speaking publicly again until the next one this coming may. Why are you taking time today to talk about this issue right now. Well i think it's it's it's so important that <hes> <hes> small businesses which of <hes> become <hes> collateral damage in a in a war. That are our country needed. The defied but <hes> <hes> <hes>. We'd in effect bomb charlie <hes>. At an induced shutdown of parts of the economy hit many types of small businesses. Very very hard and <hes>. We made some provision for that and march in terms of the cares act but then nobody really knew how long the <hes>. Now this self inflicted <hes> <hes>. Recession would would last with this particular effect on small businesses so <hes>. We need another. We need another injection to <hes>. To complete the complete the job and <hes>. <hes> congress's debating right now and i just hope very much that they extend <hes>. <hes> the p p. A plan on a on a large scale to <hes>. Let the people who may see the of the light at the end of the tunnel. Get to the end of the tunnel but <hes> <hes>. So it's it's very timely. It's very important and <hes>. And i do think congress will do something. And i hope they step a very soon because every day is important make people wonder why would bid business. Leaders are are stepping out and speaking on behalf of some of the small businesses. What what is it that concerns you about this. Why is this an issue that you're you're really putting yourself out there with well. Big businesses generally a gun very. Well not the if. They were traveling. Entertainment related days. They still have difficulties but <hes>. The fed did a terrific job. The they saved us from something that would have been a lot worse than two thousand eight nine <hes>. When they acted in march so large companies who in the middle of march early march were were going to have no access to capital <hes>. The market just open wide and the corporate issuance was huge but the small businesses <hes>. Received some help. But it's not getting to the end of not getting to the end of the tunnel and <hes>. You know you'd say it's situation. Just take food food manufacturers. The big names <hes>. Done terrifically people haven't quit eating you and and <hes>. And the large grocery chains have done very well margins wine salesmen. Good but if you had to get your food <hes>. And i <hes>. <hes> small restaurant or medium size restaurant and and social distancing was required. Everything you just. You just killed the economics for somebody that may have been working for decades with our family to build a business and reinvested their earnings and improving their their establishment and then <hes>. Through no fault of their own and edict comes along that <hes> <hes>. That kills all their dreams. And it's it's it would be so foolish to <hes>. The not follow through on this and enable those people to get back to where they could <hes>. Do the kind of business they were doing before you know it. <hes> it it. It's an economic war and and <hes>. And certain you know when we wanted to world war two a lot of industries were shut down and and <hes>. Everything went over to the defense production. Well we've shut down a lot of people in this in this particular <hes>. Induced recession and and others are prospering. At and i think that the country owes it to the m really millions of small business people. And i've met a lot of these people through the goldman sachs program <hes> <hes> <hes> just renewed ppp. And and <hes>. Get us to the got us. The end of the tunnel.
"buffett" Discussed on Rolling Stone Music Now
"Am Brian Hiatt in this is rolling stone music now. Feels like we could all use a little escapism right now, so it seemed like a decent time to play my recent interview. Jimmy Buffett who has a new album out called life on the flip side, but we kind of talked about this whole career going back to the earliest days we talked about everything from his friendship with Hunter S. Thompson to the fact that Bob Dylan has named Jimmy is one of his favorite songwriters in the two of them actually spent time together in a boat one day. Got High and then later, Kimmy met doing again and it was a very different experience. We spoke about his prowess businessmen, and how that relates to his artistic life. We spoke about the future of concerts and a whole lot more. But he started talking about that new album life on the flipside. Let's hear what he had to say it. Take it chronologically when we started. Thank you about doing an album. We haven't done one in like seven years, and there were two things about that I didn't know where the album was still be viable dinner out. She'd be uploaded likelier to songs, but We still are playing hand, and we've got a great little studio down in Key West and my creative side have been working in musical theater with the show on Broadway and then touring show, so I was working on that a lot actually rewriting songs and stuff like that. You know doing changes. So, once, that was put to bed, I said. We need to do an album. And we had some good songs and ideas, and so I concentrated on writing. This is like a year ago. So and we said we're GONNA I'm just GonNa concentrate on writing these songs getting some other go to people wingman that I. WE WOMEN I use. The right will just concentrate on that and we want to go to key west record. And I want to go to. Cuba shoots album carbon because I got a friend of their Roberto solid whose photographer, but I thought life on the flip side was referring to the Gulfstream and having spent so much time in Key West myself and having a family. History of my grandfather was a say it was. You've got into my dad. Sailing in and out of Havana harbor, so that was originally it and then life will the flip side also the tongue in cheek was those people remember? Forty fives will remember. There was a flips out those that will will ask questions, so that was a hall initial thought process, and then along comes to pandemic and the title. mean, it's amused again away, but he never supposed to be that but. The solves when they came out. Chris Blackwell's dear longtime friend and Yo- for what he is input is very valuable to be in this whole process. When I sent it to him, any played at, he said yes. Scott that Jimmy thing going. He said, but in only black way said, but there's a sharpness to it. Our yeah, there was a little sharpness through. He picked it up right away so now when you hear all the whole album together. I think that it's doing its thing. You know when I'll make a record I. don't make it from me once it's done. People can interpret whatever it is. They think I'm saying aware whatever it needs to them to me. That's what a collection of songs on an album because I'm still an album guy and I wanted to be an AL, and I did the sequence myself. And when you sequence things on a record, I only know one way to do it in that slack. Alab show is only a few tricks that should do. It's about energy, and it's about recognition so. I got enough songs that people recognize that they can sing along with so when it before. When he did a new album, you can never put borking songs added to a show. They'd walk out, so you always try to pick. The would fit into what was working before. So that's the same way when we did the songs that we did them in Kia. We cut all the tracks and five days in Key West we were. We were hungry to get in the studio. And you know vibe was going, and you just go with, and so when that happened in a sequence that I use that energy and there there was no recognition because. The song so. But I just wanted to take that energy like it was sentenced to maps. That's how I did that makes sense. How has your songwriting process change ears? I think tend to use collaborators, maybe a little bit more since pummeling, and for a while. It's not a recent thing A. How's IT changed? Since say like their early seventies like what's been the question in your process. It's changed in the way in the beginning of anything like I didn't call right with anybody because I. didn't know anybody else you know you. Nobody really was was around and. People were listening so when I got to Key West, and the very first time would jour-jour Walker drove me down there and I fell in love with us and move there. You know I'd have like a really bad years in Nashville, but I was still right, so I came to key west with a little bit of luggage and a lot of songs, and that environment being in there, and then soaking up the cultural aspect of from pirate days to the writers to you know the tolerant lifestyle. That island had you know there was the navy? There was a gay community. There were hippies there were. Just I fell right into it and took songs. There and I think I soaked up a lot of that. When I wrote those songs which we did. This album I went back and listened to those first three albums a lot. Because that was the previous anything else happening where I met people that are wanted right with or other people Mac McNally wasn't around in and out here in your pretty much co riders on a lot of stuff is will kimbrough and and then now I ran into Paul Brady when we run Ireland credible writer in so none of that was happened, so you kind of you had your own stuff there and a lot of it, and I had enough to almost made three albums. In those we albums were the songs I went to key west and I wrote a few there, but I would save seventy five percent of them were written in time period when I was. I was working down there. I'm working in bars and you know when working on the coffeehouse tour, you know you start out like in the Carolinas or you know he'd go to. New York and do the bitter end or something, but. There are a couple clubs Florida boy. When I got to go to Florida, you got very excited to go down there. A lot of that writing was done and coconut grove when I played there. I forgot to key west him. They moved in with me and. In Ja did I went back and listen to that I went. We rank us. I got him a bicycle listened to the ad and listen to what we're doing. New All grow around town. Listen to what we did back then, and that's where I got the idea. White Sport coat and a pink crustacean was the first ABC album and I want. Put on a sport coat and. Go to go to Cuba side and that was. A we're one on that Alma or one of this house. I mean when you when you think about what you put out between seventy, three seventy four. Is Crazy if you could go back and tell that guy from nineteen seventy three all the things that happened to you since what would he maker? Hours on.
"buffett" Discussed on Squawk Pod
"This is squawk pod from CNBC cures becky. Quick Warren Buffett speaking to shareholders over the weekend at a virtual Berkshire hathaway annual meeting nobody. They're not the forty thousand people who are usually there but the message still got out. He shared his thoughts on the wide range of economic possibilities that could result from the corona virus pandemic but says he remains convinced that nothing can stop America. Buffet warned investors not to get into a position where market disruptions affect them citing many historical examples. Everything from the civil war the Great Depression he spoke about America's willingness to stand up to adversity. We found that Nothing to stop America when you get right down to it and it's been true all along. It may have been interrupted the scariest of scenarios when you had a war with one group of states fighting another group of states and it may have been tested again and the Great Depression and it may be tested now to some degree but in the end the answer is never bet against America now love. It didn't say whether he thought the stock market would improve over the next month the next year the next two years but he did say over the long haul he knows that America will come back and be very strong in terms of his own cash pile. He is building that amount up. He has one hundred thirty seven billion dollars in cash. That's one hundred twenty seven billion dollars at the end of the year but that is because they run an insurance company. They want to make sure that they never have to ask anybody else for help. And that they are always able to withstand anything. Buffet also talked about the Fed's response to the pandemic. And why he said he didn't see anything attractive to buy when the market was well off the ties we haven't seen it attractive and frankly wasn't predicated on this but the Federal Reserve did the right thing and they didn't bury promptly which they should have and I salute them for but that means that a lot of companies that needed money and probably should have done their financing a little earlier but they're perfectly decent companies. Got The chance to finance in huge ways in the last five weeks or thereabouts. I mean it's set records. Some companies have come back twice a number very big companies that bothered to extend out there. Borrowings came a couple times Berkshire actually raise some more money. We don't we don't need a but will I think it's still a good idea over time and And then there are some pretty marginal companies also had access to money so there is no shortage of funds at Race which we will not invest that so we have not. We have not done anything because we don't see anything that attractive to do. That could change very quickly or may not change But in two thousand and eight nine the truth we weren't we weren't buying those things to make a statement to the world. They may have made a statement to the world to some extent and I'm glad that they did if they did but but but we made them because they seemed intelligent things to do and markets were such that. We didn't really have much competition now. The Fed has promised to use a full range of tools to try and prop up the economy during this pandemic. Buffet says he doesn't know the consequences of the Fed's balance sheet expansion but he knows the consequences of doing nothing. I'd love to be Secretary of Treasury if I knew I could keep raising money. Negative interest rates. That makes pretty simple. We're doing things that we really don't know the ultimate outcome. Do I think I think in general the right things but I don't think there without consequences and I think they could be kind of extreme consequences pushed far enough but there would be kind of extreme consequences if we didn't do it as well. So if somebody balance those those those questions again. That's Warren Buffett the chairman and CEO Berkshire hathaway joining us right now to talk more about all of this and the market implications is Mohamed El Area. He is the chief economic adviser at all. Liens in Muhammed. It's great to see you this morning. Thank you becky and thank you for Great Q. And A. With Warren Buffett. Just on Saturday. Thanks but I know that you were watching to see what he had to say about the markets. What did you think about his assertion? About what the. Fed's been doing right now with the potential consequences. Are you know Becky? He put perfectly this debate. And it's not an either all but as a question of balance and it's a question for the marketplace. Would you rather have the blanket support of the Fed as we did this time around? Would you rather have Warren Buffett's rescue financing as we did in two thousand and eight people will argue either side of this? He pointed out that on the one hand. You get the Fed normalizing markets quickly but on the other hand you get people who shouldn't be borrowing raising money and that's the issue of capitalism. You know what's better my own sense is. The Fed went too far going to high yield market. But I understand why they did. It and time will tell what the consequences all. This time is a little different than two thousand and eight back then. It was some bad actions and bad behaviors that lead to the financial crisis. It was activity at the banks and other places consumers kind of jumping in on all these things warranted different as we all know it. This was. Nobody's fault that none of these companies did anything wrong they just got slapped. I by the pandemic and then by the shutdown of the economy. Saying we're not going to let people go out so in a situation like that. Should the government be more responsive like this because again we're not talking about moral risks? We're not talking about moral hazard or anything that anybody did wrong. It's a pandemic and it's a government response to that pandemic. Just shut the economy down so I it should be. Which part of government should he be the Fed with should it be the treasury second? What rules should govern day? Should they be certain terms in terms of behaviors of what you expect these companies to do and finally I think Warren Buffett put into really clearly you Andrew and Joel had pointed out. He was more cautious. It was a vase sobering tone because he kept on saying. We don't know what's ahead. He kept on talking about a whole scenarios of possibilities not at baseline which is different from two thousand eight nine. He talked about tail risk on and on again he talked about balance sheet strength. This notion of we don't know what's ahead. And he warned us. Not Older. Problems emerge on the first day. So there's also an issue of how. How quickly should step in with these blankets support from the Fed? If you talk about the treasury and there were principle governing bailouts. I would be with you. But but the Fed opened up the high yield market for almost everybody and that raises the specter of Zombie companies. And we've got to be careful about this because that eats away at what makes America special and desktop reason why we don't ever bet against America because of its dynamism Mamad. Buffet also said that there are scenarios worst-case scenarios. He can imagine that he didn't WanNa talk about because he didn't want to make it more likely to happen. Worst-case scenarios and that's what he wants to make sure that Berkshire Hathaway is prepared for this fortress Defense about when you start thinking about some of those things not that they're likely but what. What would be a potential worst case scenario in terms of how the economy reacts so you gave us examples? I think airlines on example where he said you know what behavior has changed. This is a completely different sector. Coming out of the crisis it will not be at full capacity. He took all those planes. He also spoke about some of his companies. Having a permanent loss in sales he gave the example of Easter foresees candy and he spoke about other companies that were weak and are not coming back. And that's within his empire so this notion is coming out and I think it's a rank notion that when we we set which we will we. Will we set differently? The economists called it the ninety percent global economy. There's going to be ten percent of the global economy in their view. That's going to be missing. And what investors have to figure out is which ten percent is not coming back thank you it is great to see you again and we will talk to you very sound. Muhammad L. Area. Thank you becky coming.
"buffett" Discussed on Yahoo Finance Presents
"Andy Serwer and we felt it was important to show buffets thoughts on the matter with his upcoming annual shareholders. Meeting that is happening. This Saturday may second. He will be sharing his thoughts on the twenty twenty investing landscape and no doubt how cove in nineteen will impact is decision making in the process. So here's Warren Buffett with Andy Serwer political left and the Democrats to tax billionaires have a wealth tax would that stuff be productive and maybe close the wealth and income gap? Well I think the I think I wrote something seven or eight years ago but the fact that there was I was doing a little hyperbole but that was class warfare and my class was winning basically. There's no question that that that capitalism as it gets more advanced will widen the gap between the people that have market skills whatever that market demands and And others unless government does something in between which say the earned income tax credit or all kinds of things and and I think that's a proper function so I would I would. I would say that if people it. It isn't some diabolical plot or anything but look out this way if you go back to eighteen. Hundred eighty percent of the people were farmers. And you're the best farmer in Omaha and I was the worst. The difference in value might be two to one. You might be worth twice as much author picking heart or whatever we might be doing planning but now there's we'll say two million times because thirty million American males between twenty and thirty five and if you're in top one tenth of one percent in basketball or football mentally or baseball worth anything if you're in the top hundreds of one percent you're getting close so if that's the payoff is huge because some guy discovered television many years ago and another guy discovered pay. Tv or cable and then pay TV. So that your talents or Ted Williams got twenty thousand dollars a year for about four six your talents now. If you if you make the majors still doesn't pay well in the minors but if you finally get to that one hundred of one percent now you're worth millions and one tenth of one percent you can buy Sandlot ball and so you've got this pushing of extreme rewards people who are very very good at something the market demands and Amanda Entertainment. They demand people. Apparently that arbitrage securities. You know. There's there's certain specialties ad. That isn't because a much were sitting in a room deciding we're going to figure out. I got away from the poor or anything like that. It's because of the market system. But we want the Margaret System functioning that way but we don't want people left behind in a society where you've got sixty thousand dollars plus of GDP per capita at that. The people on the on the lower half have been getting falling behind the games overall achieved by the country. And we've they aren't worse off than they were twenty years about. There's somewhat better off than they are better off because of the things like an iphone. I mean that's a something's terribly useful in and everybody. I get the benefits of search for nothing you know. Basically but that's the Oldham attention is how do you keep a system that produces incredible benefits for everybody in? Sports is an easy example because we all liked to watch him. We WanNa Watch like you and me. So that's where the money is that. Didn't exist two hundred. How do we address that? We address it through the tax credit. We dress it so that anybody that worked forty hours a week and has a couple of kids that they don't need a second job in the family. I have a decent life. Does that mean increasing the minimum wage? It means increasing the tax credit. I think that's a better system. Yeah what they needed more money in their pocket out now you can do more money in the pockets minimum wage. But you don't work as many people working. You need something so they have money in their pocket and we can do that and that does require a in my view it requires higher taxes on people but where they were born into this world with the cure talents that that marvelously now in two hundred years ago that would have been there picking corn with me. Can you take the higher taxes on wealthy people and put directly to the earned income tax credit? You could I mean because people complain. Oh my taxes are going there swan. Nobody likes taxes. But if you put a program where was earmarked well. That's that's what people do in their when they're on the debate stage currently it's the Democrats. They all their new programs. And I'll pay for it but they don't tell you was already there. Nobody's discussed the trillion dollar deficit. We have so talk about how you're introducing new but basically you don't want to run deficits and definitely that increase the relationship that the GBI. There's there's there's some point which causes real problems although we haven't seen a lot of places that you might experts it what this country has the productive capacity to let people like me Olympic store nearly well sports stars or entertainment all kinds of good manager. Whatever and still make sure that nobody is really left so that do people have to work in. You have to hold two jobs and you wonder how you're gonNA feed your kids if you're if you're working on seven ten an hour doesn't do it in ten dollars. An hour doesn't do it but we can do it. We have the resources to do it. Thank you for listening to a world interrupted from Yahoo Finance for more coverage on the corona virus and its economic impact. Make sure to watch our bell to bell. Live programming throughout the day. Few enjoyed this episode head over to Apple podcasts. And leave us a five star rating in review there. In the meantime stay safe. Take care of yourself and we'll get through this.
"buffett" Discussed on The Money Guy Show
"I mean you can control every one of these things and then a big thing that I think people we look. We know it when we're talking about risk exposure. We're also talking about the fact that we know at some point it could be decades away but at some point all weaving this awesome planet that we live on so you need to plan for the future. Warren Buffett in the twenty one thousand nine. That's the one that just came out letter to shareholders. He lets everybody know that he has created an estate plan. That figures out what's going to happen to Berkshire hathaway. After he's no longer warns in his eighties he knows that this is a scary time for investors in Berkshire hathaway. They're probably wondered what happens the Berkshire hathaway stock worn own. So many shares of it is this thing go be dumped and sold as soon as he passes away in the stock prices. Go get destroyed. He came out and he said No. No Look I've written in my state documents I've written into the trust and I've even written a waiver of ability that Berkshire hathaway stock. I've instructed everybody. Do not sell this win. Pass away because I've left it in capable hands and then I've got a systematic plan that over the next twelve. To fifteen years we will be diversifying out of it. So what do you take from that? You listen to that and you go okay. This guy is worth eighty one billion dollars. What's The teachable? Moment within all that teachable moment is is that if Warren Buffett has an estate plan so should you should go into a good estate plan so pretty much the basics are you WanNa have your last will and testament which kind of says you know how I want my assets to be distributed. What my wishes are after I pass. You want to make sure that you have appropriate life insurance. You have health care directives. You know who's GonNa make health care decisions for if you can't you WanNa make sure if you have any sort of trust structures that are needed would that be for pro purposes or to protect yourself from creditor purposes or to protect children purposes. You understand your estate plan and you WanNa make sure you even have things like disability insurance place even if you don't hit the big one but you're just kind of out of commission for a while you want to make sure that you have your family covered. Yeah make sure that if you were taken out on a Tuesday afternoon your family is protected and that leads to the last point that we had about what you can control is obviously your behavior. Don't you bought into the panic? And the fear mongering and the media creates this storm of opportunity for you really get distracted and not act in your financial best interests. It'll be very aware of those things. So we think there are nine life-changing lessons that we can all learn from uncle war. I'M GONNA run back through them really quick number one..
"buffett" Discussed on News Radio 810 WGY
"Finally went to see Buffett and profit my buffet nine eighty five it's kind of my rabbi I call and as to the look and he said Patrick you have to come forward and I said you know it's gonna make some friends fear of fear is have made their heads are going to explode and he said you live feds do their job you're a citizen you got your job you're coming to the public here's what it is this was all political espionage conducted against Hillary Clinton Rubio Cruz and trouble this is not a fury of mine some political theory I was in the room when it happened in a way I mean not in a way I was part of it I didn't know I knew I had some of the pieces I founded the pieces of something much bigger last summer as stuff bubbled into the news thanks to good journalists such as yourself I started realizing I had these very important missing pieces does he sound credible or does he sound crazy no you definitely sounds credible and he also thought he was just doing the right thing Amy's going forward on the advice of Warren Buffett which I think I recall in Warren right now Hey Warren new I'm just say something here yeah how bout you bring something up into the because he it's not even the feds are the problem for him right now it's the reaction to what he said by his customers and probably his board of directors it well it's it is a problem with what he said and as our it's the way the news media twisted it last time yeah I think it's a look like he's not yet made it made it it every story I read with the exception of a handful made him look out look like a crazy man all years another crazy guys where is the theory from somebody on the right he's a libertarian he doesn't like either side he also said did you notice there he also said it was Clinton it was if she was a target targeted as well as well as the Republicans were sold the just the the the Russians are just trying to screw with the system here right there just trying to I don't know if it's the rush I don't think it's the Russians he's not saying it's Russians he's saying it is the man in black inside the justice department that are not necessarily coordinated by the justice department he's saying that there's a deep state here that's running okay like a size drugs of the world yeah yeah they're deciding you know what we're not going to put up with this cheese so I mean it's it's not good let me give you one more piece this is from Patrick Byrne on CNN with Chris Cuomo listen this their behavior was so strange it's almost like and by then you're saying people in the F. B. I. you don't have to tell me what your but you say that you know who they are yeah men in black men and they it was so strange that I was thinking it offers like Notre lady says men in black that isn't that is an organization that even the police and the FBI I don't know that's what he's saying then there is a full deep state.
"buffett" Discussed on WSJ What's News
"Warren buffett did a lot during the financial crisis in two thousand eight and two thousand and nine i suspect this is where talks may have broken down do we know anything specific about what buffett wanted out of a potential uber investment there are reports but the two sides aren't really confirming what happened but it's definitely possible to assume that buffet wanted kind of the typical favorable terms that he gets from other companies that he's helped out in this way which tend to mean very little downside and quite a lot of upside and uber meanwhile actually has a pretty good cash position and so it might not have been quite as desperate for cash that it was willing to cede on those terms haven't other companies already taken stakes over yes definitely uber has raised money it is now valued around seventy billion based on january investment from japanese firms softbank group heuberger revenue has grown sharply but it's also incurred sizable losses and it's also gone through few scandals include sexual harassment charges yeah well there was a wave of scandals last year and then more recently there was a death from self driving uber vehicle and so that's potentially what buffett was trying to take advantage of was helping the company reputational doesn't berkshire they have a reputation for investing and insurance companies this seems far afield from that but berkshires conglomerate and it has more than sixty subsidiaries in all kinds of industries and so it's quite well known for its insurance businesses including of course gyco but it also has a variety of other businesses including some car related companies it owns a string of auto dealerships called berkshire hathaway automotive there's gyco of course it also owns a railroad and berkshire also invests it has equity stakes in some companies that it doesn't fully own so it's also an investor in general motors and so even though buffet is says he's not a tech expert he does know quite a lot about the automobile industry i was going to ask you about that do you think this would.
"buffett" Discussed on Motley Fool Money
"You go give interviewed warren buffett you've interviewed presidents earlier this spring you set down with someone whose influence is going to continue for decades to come and that's frankas the legendary puppeteer and the voice of yoda and miss piggy cookie monster monster how was that and did you get some props from your children on that interview i yes i i actually brought in like cookie monster match game cards that my daughter plays with every day for frankas design she didn't give me props because she's only eighteen months old but yet my son thought that was really cool and by the way my daughter would think it was cool because cookie monster is her favorite cookie monster elmo both but cookie monster has been in the lead for the last couple of months that's her big facination so yeah it was huge but it was from me because i grew up watching cooking monster and sesame street and we we just went to sesame street live right before all of these things yeah it was definitely on my bucket list of people that i wanted to talk to my only regret was that we didn't have more time with them had we were badgering i'm a little bit about doing voices he doesn't do voices because it's kind of like monkey dance right but he is amazing hearing what he thinks about jim henson hearing about his career how he got into it which she said it was all kind of an accidental thing but he's still even though he can do just about anything he wants he is still doing what what interests them and what makes them fun and he's still experimenting which is what he's doing with this new release of his movie on a website instead of giving it to another distributor which obviously there'd be tons of distributors clamoring to get to be the one to put it out he wanted to do it himself and he said that kinda takes them back to their hippie rebel roots and you know he's never strayed too far from that he's an amazing guy.
"buffett" Discussed on Motley Fool Money
"His his opinion was that there were fewer stupid our competitors around that it was a business where the airlines have gotten much more disciplined and where they weren't just offering fire cells to get anybody ended by the seats on things that they had gotten so much more disciplined in it so that was a keynesian sort of situation where he looked around and said i changed my opinion because the facts of changed so that's going to be something but again he didn't tell us until after they'd already about those steaks so this is when you get hints from him it's because he's about to have to have to file something with the sec anyway or because there are things that are coming out he would never give away something if he thought he was going to lose his competitive advantage or drive up prices in an industry or an stock where he was really interested now that doesn't mean we don't have carefully get a little hint but it's usually because see violent filing isn't far behind about the new documentary that you worked on warren buffett investor teacher icon it premiers on cnbc on friday may fourth at ten pm eastern i got a chance to watch this earlier this week congratulations it's it's fantastic and what's fries me about the documentary was essentially it's told through the eyes of people that buffett has influenced and it's not really a checklist of investors it's people from everyday walks of life i guess my first question is where did you find these people.
"buffett" Discussed on The Money Guy Show
"They say it's that whole echo anybody's a student of of of warren buffett in berkshire hathaway knows be fearful when others are greedy in greedy when others are fearful i mean that is exactly what that is an echo of so let's get into what is the because i told you that seventy six percent of berkshire hathaway's actually these private businesses that have come into a home what's the four traits of a successful business for them to consider acquiring are bringing them into the family and then what's the one trait required to become that parts lose the four traits that every business has to have hidden there's one trait that he requires for him to actually turn you into family okay so here's here's the quote in our search for new standalone businesses the key qualities we seek or durable competitive shrinks got it that's a quote as a as as a a the moped he read these things you'll know he's always looking for a moped around any business that he's buying he wasn't make sure they can do this for years going forward so durable competitive strengths abel and highgrade management because warren doesn't want to get in there and run payroll every mara i mean that without a doubt warren buffett is not running payroll he wants to know that was good managers already running this company that will continue to do the daytoday operations good returns on the net tangible assets required to operate the business makes me think as sees candy because he's always talking about got an asset much cheaper than what people realized it was work when it was bought the opportunities for internal growth at attractive returns and here's the big one this is the one that you have to have if you wanna be in business with warren buffett a sensible purchase price so warren brags on all these companies but then he says look i'm not overpaying i'm not going to go out there and overpay for anybody comes to me that's what he has got the great.
"buffett" Discussed on Stansberry Investor Hour
"And see if it turns into uh you know uh twenty bagger so richard tell tell me about coming up working with these billionaire portfolios could you really improve their performance just by changing their allocations um it's it's allocation so with uh taking warren buffett as an example my studies so far in his portfolio is that the uh allocation algorithm that i've been using that risk free valor balancer algorithm so again it it puts more money into the lower volatility stocks and less money into the higher volatility stocks in it it takes equal risk on each of those stocks in the hedge fund world they call it risk parody rate um i like to try to use simpler language i just call it equal risk uh based on volatility so yes using that simple algorithm on buffets publicly traded uh investments uh does produced a higher uh longterm return gruntal an art and other you're not changing when he buys when he sells you just changing the 'basanti us yet but there are uh on one of my favorite to david einhorn okay and with david einhorn what i founded the most impactful thing is actually changing wind by oh yeah over i discovered that david einhorn gets into everything about a year to early um it's good to know and he he uh you know he's a great stock picker bet and he's picking ideas that are uh more volatile than most of the billionaires and so i have this red light yellow light green light system that i developed uh also based on the volatility that the volatility quotient as i call it or the q okay and so you know monitoring david einhorn's investment ideas and then waiting until they get a green light in my system uh produces and then using the risk rebalance or produces nineteen percent annualized gains over the past eighteen years sounds like sugar.
"buffett" Discussed on Money For the Rest of Us
"Henry kaufman he said ninety old founder of the financial consulting firm kaufman company sometimes known as doctor doom he right there are two kinds of people who lose money those who know nothing and those who know everything so that's us in one be prudent with debt lesson to is keep your eyes open and focus on a few simple fundamentals here's what buffett wrote in the letter though markets are generally rational the occasionally do crazy things seizing the opportunities then offered to not require great intelligence a degree in economics or a familiarity with wall street jargon such as alpha and beta when investors then need instead is inability to both disregard mob fears or enthusiasm and the focus on a few simple fundamentals a willingness to look on imaginative for a sustained period or even a look foolish is also essential the different letter buffett said the less prudence with which others conduct their affairs the greater the prudence with which we should conduct our own affairs well if it is suggesting that if we keep your eyes open and focused on a few simple things that we can take advantage of opportunities takes patience we might look foolish for a time but ultimately there's opportunities there howard marks says the same thing he right as difficult as it is to know the future it's really not that hard to understand the present what we need to do is take the markets temperature keep your eyes open it goes on there are few fields in which decisions as to strategies and tactics are influenced by what we see in the environment and it gets example how house fast were going driving we've been taken this long road trip you tend to keep your speed based on how others are driving the phrase being slow is slow down keep the.
"buffett" Discussed on We Study Billionaires - The Investors Podcast
"I think of buffett is really a ward off you know he's been doing this since nineteen fifty six that's sixty one years you know he's has topdrawer result through sixty one years if you combine above its record with his endurance with also his skill as a manager running the guam route with seventy companies with his larger role in the american business culture is really become the teacher of business and investing for her is uh student annual report readers and now listers or the all the shows is interviewed on he's created a role that never existed and i think there's not going to be another one in interest rates soar sides of this way early in his career before your anywhere had heard of warren buffett when he was a fraternity actually it when he transferred to maybe lives depend first coup he went through is the fraternity brothers used to stay in the begins to war and if peppered with questions just because they like to hear his answers and then a few years later when he was a young investor it go to these dinner party to new york and then ever kind of a ritual bunch of young of brokers and investors bill ramos probably there half dozen others and they were all gather around his feet all these other grown man his peers and listen to him talk and pepper him with questions again because they wanted to hear him speak it was unconscious a dress rehearsal for the day a decade later way to be running this company copybook draft way really got annual meetings where forty thousand people would show up to your door when did you ever been on stock picking we forty thousand people flying across the country i think he's sort of a oneoff writer the'dear yeah you might be right about that i want to throw this out there they're roger if you ever wrote a book or visas i would absolutely by that we you know with the biography be they're all all the things i just said about buffet who selfconfidence the way he approaches starch.
"buffett" Discussed on WSJ What's News
"And the title of your article is one game warren buffett doesn't play chicken exactly so typically his notice is reno really we don't do this we don't get into bidding wars berkshire hathaway is at major acquirer of companies and has been for decades and one of the reasons at so successful and something that warren buffett talks a lot about is that berkshire is kind of the buyer of choice that they are a permanent home for companies they let the management stay in place they let a lot of their subsidiaries run relatively independently and so for a business owner selling to berkshire is kind of an ideal place to sell your business and a lot of cases and part of the deal is that they strike the their price and deal very quickly they often just shake hands are put together a onepage term sheet no lawyers know bankers and then they don't renegotiate after the deal so given that his berkshire unlikely to rues its initial bid so berkshire headway energy has not commented on this and warren buffett has not commented on this and so we can't speak for them but talking to people who have followed berkshire closely for many years people who owns shares in berkshire a lot of these people say it is really unlikely that they would raise the bid that if they get into some sort of a bidding war in this situation then they'll have to do it for every deal down the line that kind of change the expectation of what berkshire is willing to do.
"buffett" Discussed on WSJ What's News
"In floored we have a place for you not only do we understand your aspirants we're ready for them for all the amazing things your future holds we hold the key floored the future is what's news from the wall street journal top stories and timely invites i'm charlie turner in new york there are some things that billionaire investor warren buffet won't do and they include engaging in bidding wars and hostile takeovers in fact buffett's berkshire hathaway says that in its annual report we don't participate in auctions yet data something that buffet and berkshire may find themselves doing before long here to talk about a possible bidding war for a major utility owner is wall street journal reporter nicole friedman nikkola's you've reported berkshire hathaway energy recently struck a deal to buy energy future holdings which is bankrupt for nine billion dollars cash energy future owns the texas electric utility encore tell us what has happened since rights of that deal was struck last week it was announced on friday and since then elliott management corporation which is a hedge fund run by paul singer has come forward there one of the largest creditors of energy future holdings and they've said they think that burke share offer does not bring enough value it doesn't value encore and energy future highly enough and that they want to put together their own bed with putting together a team of investors to make an alternate bid for energy future which then raises the question is warren buffett and berkshirehathaway going to raise its bid and compete or is it going to walk away.
"buffett" Discussed on Motley Fool Money
"And let's start with his late wife susie because she is as much at the centre of this film as warren buffett is and i was thinking about the you hear often that well you can't really change who people are but after watching your film it's clear that she change warren buffett curious if you could share a couple of thoughts on the ways in which she changed him they 21 when they laid when they married hewitt nineteen and he with kodaly fixated on his work and uh that he was all brain and no social skill he had a very hard time uh get getting along with with with with kind of the regular things like she was all heart and i think she she said warren was my first patient and i wanted to help him become kind of a more wellrounded human being and she just moulded him and helped him and taught him how how to respond to people had a trust people uh by the end of the film after after we've heard the story of a suzy buffeted mourn uh he says a he'd never would have been able to to uh be as successful as he was without suzy that she she was the reason berkshire hathaway has become what it's become so she he gets her as much credit as he gives himself and i think that's one of the reasons warren is pleased with the film is i don't think that's really come out before i think i think people have loaded him with credit and he he's always known that suzy deserves a good part of it.