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May 3, 2024
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munger and what that means for warren buffett himself as he thinks about what the next great thing is going to be. >> yeah, there is an interesting kind of dual message you'll pick up, which is, one, that charlie munger himself and his voice is going to be missed tremendously. tomorrow, it is like the showcase of buffett and munger's kind of discourse on display at all times. and that will definitely be somewhat of a void. on the other hand, he's been involved and a part of buffett for so long that it feels as if all the lessons are somewhat engrained in the company. what you mainly would look at is what warren buffett himself said about munger, he taught him how to get out of just that kind of old-fashioned deep value statistical approach to cheapness and buy higher quality businesses at fair prices. that's the key single insight that allows you to buy something like coca-cola, american express, and all those other long time holdings at a price maybe they weren't bargain basement, but the insight was the world will see that these brands are worth more over time than just what they ea
munger and what that means for warren buffett himself as he thinks about what the next great thing is going to be. >> yeah, there is an interesting kind of dual message you'll pick up, which is, one, that charlie munger himself and his voice is going to be missed tremendously. tomorrow, it is like the showcase of buffett and munger's kind of discourse on display at all times. and that will definitely be somewhat of a void. on the other hand, he's been involved and a part of buffett for so...
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May 6, 2024
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the first annual meeting without charlie munger and you heard directly from a noticeably older warren buffett about what he wants to see and saying he hopes he's there next year. >> i thought that was very sweet. he was very focused on giving greg the opportunity to speak. he prioritizes succession just like we do. we have a program for rising leaders. this is the most important thing you can do is build the company and train the next generation. he was kind bringing greg in and dedicating time to him so he can establish himself and calm investors going forward. >> anneka, back over to you. we mentioned berkshire increasing the cash position by more than $20 billion. most of it is parked in short-term treasuries. i want to talk about what that means for other investors. so many turn to the oracle of omaha decisions. he is saying cash is king. stay in short-term treasuries while you wait for opportunities. does there make sense in your mind? >> i think there are two parts. one is the short-term side of the treasuries and the other part is the cash pile. i think also what was mentioned
the first annual meeting without charlie munger and you heard directly from a noticeably older warren buffett about what he wants to see and saying he hopes he's there next year. >> i thought that was very sweet. he was very focused on giving greg the opportunity to speak. he prioritizes succession just like we do. we have a program for rising leaders. this is the most important thing you can do is build the company and train the next generation. he was kind bringing greg in and...
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it was a weekend of some sentimentality, as charlie munger was remembered. how did mr. buffet strike you? >> well, he has been such a generous and brilliant and wise man in my life that -- that there is hardly anything that he can do that -- that disappoints me. he's 93 years old. he just had his closest friend and his closest business confidant pass, and he's feeling the effects of that. and charlie, they started the meeting out with a bunch of charlie whit of the past years, and you couldn't help but be emotional about it. it was near the end of an era. >> it was clear in the sub text that greg able is assuming a more important role internally. he's the dez signated successor. did you feel that way? >> yes. he will be the ceo of berkshire hathaway, the primary asset allocator among buying whole companies versus putting more toward stocks, et cetera, which was kind of a surprise to us. we thought the last ten years or so would be a process of turning more of the reins in company selection to tom combs and ted wessler. we wondered about that, and we got that question an
it was a weekend of some sentimentality, as charlie munger was remembered. how did mr. buffet strike you? >> well, he has been such a generous and brilliant and wise man in my life that -- that there is hardly anything that he can do that -- that disappoints me. he's 93 years old. he just had his closest friend and his closest business confidant pass, and he's feeling the effects of that. and charlie, they started the meeting out with a bunch of charlie whit of the past years, and you...
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the first annual meeting since charlie munger's death at the end of last year. it raised questions of what berkshire hathaway will look like after warren buffett. those are the things that shareholders have been asking about and the types of things we see reflected in the media. big questions, obviously, thrown to warren buffett and greg abel and jane who will be on stage this weekend to answer those questions. we'll talk about those over the next few hours. some of the issues surrounding berkshire. these are issues that warren buffett was direct about in his annual letter to shareholders. he laid out the disappointments they have seen. bnsf was a disappointment on earnings. earnings dropped significantly from a year ago. buffett laid out how its railroad has fallen behind the other five major north american railroads in terms of margins. he talked about bhe. berkshire hathaway energy. the major utility company berkshire hathaway owns as well. laid out the issues on the regulatory front with the western states. major fires there, liability issues that come with
the first annual meeting since charlie munger's death at the end of last year. it raised questions of what berkshire hathaway will look like after warren buffett. those are the things that shareholders have been asking about and the types of things we see reflected in the media. big questions, obviously, thrown to warren buffett and greg abel and jane who will be on stage this weekend to answer those questions. we'll talk about those over the next few hours. some of the issues surrounding...
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the one's mind action service, chief impala son, is charles munger. bush and he says, the amount of date for you in garza is on process entity, global a, a fun most. obviously the rob listen issue, but primarily we're interested in clearing the explosive ordinance amongst the rubble. so you, at the mind them, we have funding for approximately $5000000.00 us dollars. we need to in order to adjust the ramp up, install it operations. an additional $40000000.00 on the sector has a hold of mind. action sector for the clearance of garza is going to need hundreds of millions of dollars over multiple years to make calls us safe from explosive ordinance. to put this in context on off the box of moses, you and environment program estimates that what 10000000 tons of rubble in mosul and on us, which was directly involved in the clearance of noise or estimates that it would take 10 years to clear most so that's a gives in i'm, we still have 2 years left to go in gaza. the order of magnitude is significantly greater. and so it's going to take a very significant amount of time for us to click on. so y
the one's mind action service, chief impala son, is charles munger. bush and he says, the amount of date for you in garza is on process entity, global a, a fun most. obviously the rob listen issue, but primarily we're interested in clearing the explosive ordinance amongst the rubble. so you, at the mind them, we have funding for approximately $5000000.00 us dollars. we need to in order to adjust the ramp up, install it operations. an additional $40000000.00 on the sector has a hold of mind....
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charlie munger, i got to see him in september, so he made the point that few people underestimate how size is important for him, something that moves the needle, and doesn't get caught up insmaller positions. they need these kinds of big positions. it's not clear how many stock stocks can move the needle like apple. >> if i had a had 3%% in any one name and another six stocks probably would make up in the balance, because you add in chevron, axp, whatnot. i think the concentration is the risk we're probably all getting to. how about a dynamic, where there are other megacap stocks that probably will be apple-like? microsoft certainly, the cash flow generation certainly -- here we are speculating as to what could be the next investment committee. do you think they're talking into other high-capacity stocks that could fit into a economy that is frankly has become commodityized. >> nots it could be one of his riskiest investments. i don't think they're reconsidering this investment. my sense is, and it's hard for me to tell, that they're still enamored off supportive the company. their ho
charlie munger, i got to see him in september, so he made the point that few people underestimate how size is important for him, something that moves the needle, and doesn't get caught up insmaller positions. they need these kinds of big positions. it's not clear how many stock stocks can move the needle like apple. >> if i had a had 3%% in any one name and another six stocks probably would make up in the balance, because you add in chevron, axp, whatnot. i think the concentration is the...
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this is the first annual meeting without the former vice chairman charlie munger since his passing last november. joining me now is the krco-chie investor. chris, good morning. what are your expectations for the meeting when it comes to the questions that warren buffett will face, but the mood and tone with the company? >> it will be a bittersweet mood. obviously, the passing of charlie is the theme here. he has been called the architect of berkshire hathaway by warren buffett. he made the pivot from buying businesses at fair prices. from beyond that, there has been a focus on succession. eventually, warren won't be there. they have done a good job of building their bench. beyond that, it will be the usual questions around capital allocation and the cash and what stocks they are buying and the outlook for the economy and world. >> you mentioned succession. berkshire hathaway director ron olson has been talking about greg abel. saying he would not enjoy the same freedom in the top spot. the director speaking out here and he doesn't speak out too often. saying greg abel won't have the sam
this is the first annual meeting without the former vice chairman charlie munger since his passing last november. joining me now is the krco-chie investor. chris, good morning. what are your expectations for the meeting when it comes to the questions that warren buffett will face, but the mood and tone with the company? >> it will be a bittersweet mood. obviously, the passing of charlie is the theme here. he has been called the architect of berkshire hathaway by warren buffett. he made...
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May 14, 2024
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year-old people like me that are going out and doing stuff that is stupid to honor the late, great charlie munger. they are taking in rat poison. >> cole, always good having you this side of the atlantic. thank you for joining us. cole smead. >>> coming up on the show, a no-go from anglo. the miner rejects at takeover offer from bhp. that is old news because so much more has happened becae ey usth are about to structurally change the business. we'll discuss next. hi. i'm wolfgang puck when i started my online store wolfgang puck home i knew there would be a lot of orders to fill and i wanted them to ship out fast that's why i chose shipstation shipstation helps manage orders reduce shipping costs and print out shipping labels it's my secret ingredient shipstation the number 1 choice of online sellers and wolfgang puck go to shipstation.com/tv and get 2 months free ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a t
year-old people like me that are going out and doing stuff that is stupid to honor the late, great charlie munger. they are taking in rat poison. >> cole, always good having you this side of the atlantic. thank you for joining us. cole smead. >>> coming up on the show, a no-go from anglo. the miner rejects at takeover offer from bhp. that is old news because so much more has happened becae ey usth are about to structurally change the business. we'll discuss next. hi. i'm wolfgang...
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chance to talk to sue decker, the lead director at berkshire hathaway and said even though charlie munger is not here physically the reminders and morality and the culture that he built into this company are still very much alive and well. all of those lessons and talk about those things with us this morning. there are other big issues that are facing berkshire hathaway this time as well. issues that warren buffet laid out in his annual letter to shareholders and talked about how profits at two of their major companies berkshire hathaway energy and bnsf the railroad profits were down, and he talked about that and laid out how they think they're going to get to better profitability and margins. tomorrow warren buffet is taking the stage and he will be there along with chairman greg able and jay james to talk about the issues facing the company. he will be taking questions from the floor and shareholder questions we've been collecting over time. mike santoli and i are here covering this at 9:30 eastern time tomorrow on cnbc and cnbc.com but again, this is the calm before the storm. they're
chance to talk to sue decker, the lead director at berkshire hathaway and said even though charlie munger is not here physically the reminders and morality and the culture that he built into this company are still very much alive and well. all of those lessons and talk about those things with us this morning. there are other big issues that are facing berkshire hathaway this time as well. issues that warren buffet laid out in his annual letter to shareholders and talked about how profits at two...
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May 5, 2024
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the move during berkshire hathaway's annual meeting in omaha, the first since the death of charlie munger. let's bring in sally who brings our finance coverage in the americas and this does not seem to be any sort of shift in thinking around the invest ability case of -- investability case of apple. sally: apple was a really big talking point in the annual meeting of berkshire that took place on saturday and it was the first question out the gates. why did he cut his stakes? the greatest product ever made. he said the business was even better than american express and coca-cola which are two other businesses he owned and he said that apple will likely remain berkshire's top holding until the end of the year so i do think it was a really sort of -- a view on apple he was taking and he did indeed hand that there were tax implications that motivated the sale. >> lots of questions of course in terms of how the conglomerate will operate without charlie. is there a deeper question, you know, looking further ahead in terms of succession now? >> what really looms large over the meeting was the ab
the move during berkshire hathaway's annual meeting in omaha, the first since the death of charlie munger. let's bring in sally who brings our finance coverage in the americas and this does not seem to be any sort of shift in thinking around the invest ability case of -- investability case of apple. sally: apple was a really big talking point in the annual meeting of berkshire that took place on saturday and it was the first question out the gates. why did he cut his stakes? the greatest...
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May 6, 2024
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the passing of his all-time friend, of course, and the man in charge of his investment ideas, charlie munger, that was really significant to look out for. warren buffett himself made aid of that. he said another is likely to take over. that was a significant takeaway from the agm. the other part is berkshire hathaway has cut out 13% of its stake in apple. that was a significant portion to look out for. a little worried about where apple goes from here but trusting the process. also divesting completely from paramount. that company is at the helm for a possible takeover from sony. and that was sold off at a loss. that was the main three items. >> arabile gumede live from london. thank you as always. >>> still ahead, cia director william burns is likely to travel to israel for more cease-fire and hostage negotiations. we'll discuss his high stakes meeting with prime minister benjamin netanyahu and whether a deal can be reached. that's next on "way too early." that's next on "way too early. r child. get in. listen, what you really need in life is some freakin' torque. what? horsepower keeps you
the passing of his all-time friend, of course, and the man in charge of his investment ideas, charlie munger, that was really significant to look out for. warren buffett himself made aid of that. he said another is likely to take over. that was a significant takeaway from the agm. the other part is berkshire hathaway has cut out 13% of its stake in apple. that was a significant portion to look out for. a little worried about where apple goes from here but trusting the process. also divesting...
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he reflected on the passing of his longtime partner, charlie munger, last year while making remarks about his own mortality. buffett reassured investors there is already a solid plan in place for berkshire hathaway after he passes, and buffett says he is confident his successor will make wise investment decisions. twitter founder jack dorsey has resigned as a board member of blue sky, dorsey has been a major player in helping fund and popularize the social media network during the past year. it was promoted as an online alternative to twitter, especially following the sale to elon musk. blue sky has attracted more than 2 million users during the past 12 months. dorsey did not reveal why he quit. the blue sky board would only say he is planning a new business venture, and a new air travel service is offering flights for you and your four legged friend. bach air launches this month. say goodbye to crates. it is a first of its kind travel experience prioritizes your dog's comfort. if you buy a ticket, you'll get on board pet meetups treats for both you and your dog. as your dog sits right ne
he reflected on the passing of his longtime partner, charlie munger, last year while making remarks about his own mortality. buffett reassured investors there is already a solid plan in place for berkshire hathaway after he passes, and buffett says he is confident his successor will make wise investment decisions. twitter founder jack dorsey has resigned as a board member of blue sky, dorsey has been a major player in helping fund and popularize the social media network during the past year. it...
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May 6, 2024
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this is the first time this meeting took place without charlie munger being here. before warren buffett took to the stage, this was a stage where there was a lot of emotion that came into this here with a standing ovation for charlie at the top. roll that back down, please. a standing ovation for charlie right at the top of the meeting after a movie that played -- a half-hour movie, that played his highlights over the years and funny skits they had done and a standing ovation from 40,000 people who were here at the convention center. pretty emotional day. warren buffett made news. it came out when the company's 10 q hit. people were looking to see it and it trimmed stake in apple by 13% in the quarter. it sold about 116 million shares. a lot of questions as to why and what it means. apple is still, by far, the largest stock in its portfolio. it makes up 40% of the overall portfolio. buffett said he was selling because he wanted to raise cash. he was asked specifically if he sold it because his view on the stock had changechanged. he said no. he was raising cash. he
this is the first time this meeting took place without charlie munger being here. before warren buffett took to the stage, this was a stage where there was a lot of emotion that came into this here with a standing ovation for charlie at the top. roll that back down, please. a standing ovation for charlie right at the top of the meeting after a movie that played -- a half-hour movie, that played his highlights over the years and funny skits they had done and a standing ovation from 40,000 people...
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it was actually an emotional meeting because his partner charlie munger passed away last year at the age of 99 just about a month before he was to turn 100. i have to admit i even cried at one point. they shared a movie that was just so emotional. i think the biggest take-away was, i think, in warren buffett's mind there is some true caution about where the economy is. i know we talk about how the economy is going gangbusters and seems to be quite good despite some of the inflation issues and the like. but i think there's some level of which he may think the market is possibly overvalued. he did trim his stake in apple, which is their largest holdings. he also talked about ai and his anxieties, frankly, about what he thinks it could portend not just for the economy, but for society. there were a lot of fascinating take-aways from this year's meeting that has people this morning on wall street talking. the biggest is where we are for the market right now and some of his cautions about it. >> you talked last week about how you stopped drinking starbucks. >> i can't do it. it doesn't ta
it was actually an emotional meeting because his partner charlie munger passed away last year at the age of 99 just about a month before he was to turn 100. i have to admit i even cried at one point. they shared a movie that was just so emotional. i think the biggest take-away was, i think, in warren buffett's mind there is some true caution about where the economy is. i know we talk about how the economy is going gangbusters and seems to be quite good despite some of the inflation issues and...