"this was the 54th annual shareholder meeting from Berkshire Hathaway and while shareholder meetings are known for being lightly attended stayed and downright boring this was anything but more than 40,..."

"caught up with Cook this weekend and asked him what he thought about it all I think it's incredible I've never been to an annual meeting like this before you know I thought ours was lively but there's..."

"I'm sure joining us now is Berkshire chairman and CEO Warren Buffett and warned that what does it mean to you to have gone through this weekend it's a lot of fun I mean you see who you're working for ..."

"allow you to rest on your laurels this week because we have some major news that's breaking this morning you see the markets already down by almost 500 points the futures here for the Dow what do you ..."

"negotiate a lot of deals too would this be your tactic well it is mine at all but but you know talk about the Occidental deal later on the illustrate but but but I've had a consistent way of negotiati..."

"Friday you can't but if you're playing you're playing the game you have to solve that way I mean if it's with some people in negotiations the best technique is act half-crazy I mean that that know wit..."

"save a lot of time well let's talk about what it would mean if tariffs on Chinese goods rose to 25 percent from 10 percent done on that two hundred billion dollars worth of goods at the end of the wee..."

"way I mean it would it would be well if it sounds ridiculous to talk about it because it is ridiculous but you've got countries where you would have similar effects if you if you get country after cou..."

"put in terms of I mean you're you're an actuarial mind in terms of odds would you put on it when you talk about two leaders of the two major economic powers in the world that's not the sort of thing I..."

"big one what will it mean for Berkshire businesses specifically and I just think on Friday we spoke with Jim Weber who's the head of Brooks running they've already relocated and and and moved a lot of..."

"you saw an increase in in rail car loadings months ago months ago because people were trying to get people loaded up on inventory that they thought might I mean if you thought there's a mid 25% I mean..."

"somebody came to us with a good business today we'd buy it and we buy it regardless of what's going on in the sort of situation we might have this is the case but you might were more likely perhaps to..."

"and they can't they can't issue the first quarter reports until the 10k is filed and they can't file with 10k til Price Waterhouse signs off on it and and that apparently is going to require a restate..."

"they've wrapped up this investigation are you satisfied with what you've heard from that part of the investigation or do you know that I don't know about that I do know that because I've been I've bee..."

"you can always pay too much for a business and I've done it with stocks many times I've done it with businesses we've got we've got at Berkshire we have at least a half a dozen businesses and I can't ..."

"because with this they no longer have to ask their shareholders for permission on this what are your thoughts about where the deal stands and what this latest updates yeah I got a call by yesterday af..."

"understanding and bear in mind the first thing heard about this was that we can go Friday what Brian White had called us said the people Occidental like to talk to you and and I talked to them on Sund..."

"level letter that certainly increases the certainty of this deal taking place and remove some of that uncertainty yeah I would I would also think that the shareholders own Occidental you're bullish on..."

"surprised that Anadarko hadn't engaged with Occidental on this at this price and also if there was a price at which you would think that Anadarko rather that Occidental shouldn't pay meaning if Chevro..."

"don't it was a matter of courtesy I got to call you yesterday but it was not a matter of necessity on their part that's one of the advantages of dealing with Berkshire I mean we can do things that oth..."

"over time and Edie Charlie and I have got some views on that not too specific because they're not that well informed but they are we we feel good about about doing the financing why don't you just buy..."

"like doing these deals at bigger sizes not smaller sizes exactly back to Andrews point this is there for forever it doesn't matter if the bids go up doesn't matter what happens along the way your 10 b..."

"share that in one stock that is under pressure today shares of Apple if you want to take a look at the chart closed on Friday at two eleven seventy five this morning the bids at 204 ninety one the ask..."

"very clear he didn't invest in technology companies and companies he didn't understand he's been totally clear with that and so he obviously views Apple as a consumer company and in a different kind o..."

"they could I mean that the the possibility always exists that you get miscalculations or egos or or national pride or whatever it may be and that things do escalate I don't think that will happen I kn..."

"like having a have a nuclear war you don't want to say ha ha ha you know if you're in Canada because don't we attacking United States or something it's impossible to contain it if you have two superpo..."

"just with Apple but more broadly because it is a question that came up pretty frequently this weekend at the annual meeting to repurchases can be the dumbest thing in the world or the smartest thing I..."

"headlines of any sort I mean if you expect a business if you expect the farm to be a good investment over ten years if you expect to an apartment house to be a good investment over ten years and if yo..."

"participated the same way so maybe I shouldn't have used that example but they if you have a decent business I mean you buy into a business you don't buy a stock that Wiggles around you know and and p..."

"that's a great long-term perspective but for the shorter term not just for stock prices even for companies that are trying to think about their quarterly earnings or trying to figure out how they're g..."

"say an hour ago that the sell-off when the Dow was down by about 500 points was not an undue sell-off was not overdone at that point if we actually get into raising tariffs right well India it may not..."

"you don't do dumb things yourself over the weekend a lot of questions came up about share buybacks people were asking specifically about Berkshire why don't you buy back more shares of Berkshire espec..."

"not complicate maybe it may be beyond my ability to figure out the intrinsic value of certain kinds of businesses but with Berkshire I've got a reasonable idea and I tried to give the shareholders the..."

"part of what else they do he said its to make acquisitions and what I didn't realize is he said they're making an acquisition every week or two they make a lot of small like he said they've made twent..."

"say you like Apple buying back shares so you think the price is right there well they've done a terrific job of it they've done a terrific job they've made their shareholders a lot wealthier because K..."

"thing happened that you'll add to it every eight it's interesting sometimes it's difficult for CEOs to be objective about their own stock price and they think this but they think the higher it sells t..."

"if you speak and some some CEOs like it a whole lot less than others some CEOs actually encourage a fair amount of dialogue and others you know make sure that all the important stuff comes up at 5 of ..."

"you let the ones who would be terrible at it go ahead and make it both on it very often some of them don't have have great operational sense they don't have a money sense exactly you know that you tal..."

"unique position and you have people who are doing all kinds of things some who are managing money some who are managing operations yeah can somebody do both of those guys happen to have extreme money ..."

"fine do you wish that Trump hadn't confronted China at all and we just aren't addressing any of these long-term problems with intellectual property or you know take your pick of which issue we're tryi..."

"tensions they're gonna be negotiations and sometimes we'll both come away thinking we lost but it's inevitable so I and how you play the game if you're negotiating with some people that are tough nego..."

"something that they have that you need and and it's it's gonna be constant and and and and there's times when it's going to be tense it's just the nature of things you have that yes that a much differ..."

"with China it's overwhelmingly an economic game and it's an economic game we game we didn't think we'd be in 40 or 50 years ago I mean the Chinese the rise of their economy has been extraordinary and ..."

"China's going a little forward and the way to try to do it is to do it that maximizes what both company the countries can do well and and and and more trade is better but trade in specific industries ..."

"enormous ly important we should treat them as as neighbors and not not adversaries we are live in Omaha where we've been talking for the last hour and a half plus with Warren Buffett who's the chairma..."

"we would but yeah but we have had a incredible fun together we've done all kinds of things some work some haven't worked and we've never had an argument we we we disagree on things sometimes but they'..."

"[Laughter] you're you're both pretty you both act pretty unilaterally though you both kind of do your own things and then come to each other facto he knows what I'm thinking I know what he's thinking ..."

"Darko nobody asked us to that may sound strange but but who knows if they'd come to us you know we do we do usually wait till people come to us so it isn't like we if we wanted to buy into the field w..."

"let me ask you though about Occidental and the steel in particular if you like the Permian Basin but you've also both commented on times when you think you've paid too much in the past is there a numb..."

"and people were making those choices all the time in the investment world that stocks actually in many cases it looked like perfectly intelligent investments Charlie you agree with that sure let's tal..."

"well but how could it be the best single thing to use your money for in a given day is it something that you've got they got everybody the world out pushing it you know it it just doesn't make any sen..."

"Charlie just specifically on some of these companies and I won't talk about uber versus any of the others but a lot of these companies are coming very late in the cycle they've had mass of private cap..."

"savings you know may here's more well why in the world should you why should you be doing it let me ask you gentlemen about a topic that came up over the weekend at the annual shareholders meeting and..."

"whoever's you heard at the top all of this concern about China this is spooking the markets a little bit today Joe's right it's a decline of under 2% for the day but still down 460 points as a number ..."

"first got the tweet there had been some initial reports that Lee who and the delegation from China might not be coming here that's what we were hearing last night this is the first I've heard just a m..."

"lasted a long time it wasn't the end of the world so if we ended up with some trade settlement that involves something tariffs on both sides I don't get excited about it at all I rarely as part of nor..."

"and I think they will what do you think about us taking a stance as being America taking a stance with China to this point well I don't think Trump is totally crazy to say that in some occasions you p..."

"trade more people will live better than in the world that was significant tariffs and shifting tariffs over time I was a subject of constant negotiations and war two of this heavy crate on both sides ..."

"people are more like this settle a thing because they had this uproar today the settling is it sounds like a great alternative but it certainly does there have been a lot of friction along the way the..."

"back to try and figure out which side you think is right nobody wants to say that does anybody think they're both right to be as concerned as they are and I predict they'll settle it would you all agr..."

"opinion they couldn't they can't inflame people and then they start reacting their own the tricky things on the other hand sometimes it's best way to get things done a good sign though may be that the..."

"biggest market and then outside the United States and there should be opportunities there and I think we are someone at Berkshire I think that that if they're looking for capital around the world we'r..."

"bill how about you well certainly you know there is in parallel with the trade talks talks about what the technology export regime will look like in terms of things like artificial intelligence and so..."

"at Dairy Queen no we can handle it we've talked an awful lot on our air recently about socialism vs. capitalism defending capitalism all of the different political pressures that are kind of being bro..."

"Sanders well whether or not he was a socialist by the full term about now there there is some money areas when you start to say there shouldn't be any billionaires that you have some cap on wealth or ..."

"Ford could learn devise a system that could turn out a couple million cars a year but he could only use half a dozen himself or his whole family could use 50 I mean he had to turn out a couple of mill..."

"no the Democratic politician doesn't understand that he's nuts you've made the same point though Charlie that you think private sector does it much better than the government sector however a lot of t..."

"regarded as the is essentially this huge source of wealth and goods and services so how do you fix the problems or at least the perception of problems which there's a huge perception out there and the..."

"take care of people who fall by the wayside we just got to keep doing it well you've spent a lot of time on education in this country trying to figure out how to fix it and how to make things work wha..."

"the improvements in global health which is the other big area for the Gates Foundation to the improvement in education education was proven to be tougher to make big gains over the last decade was tha..."

"Charlie just getting back to your idea of people not hating each other so much and getting along how do we make that happen how do you try and push towards that because it seems like things like that ..."

"the concern that about what would the fed what might or might not be doing since that time the Fed has sounded much more dovish and I just wonder if you couldn't talk a little bit about your own take ..."

"doing that well you know we've been lucky we have a cushion the foundation continue to spend generously but I'm in prayer I'm amazed at how high the valuations are if you look broadly charlie do you t..."

"Singapore which has a marvelous economy has zero debt if I were running the world I would like the United States to be in that position that is not the typical that's that's nobody's position you know..."

"probably could not have conceived of a world recently is ten years ago I'd learned not have conceived world where you would have full employment 5% budget deficits with actually the probability of tho..."

"cheap the one thing I will say though is this is a conversation I feel like we've had for at least four or five years right where you're watching and continuing to wait for these interest rates the yi..."

"that's what makes going to work interesting well this three so it's comfortable if everything goes down not by 90 percent so we're not a fair cross-section I'm sorry Charlie what was that say this thr..."

"what's phenomenal that by taking the new vaccines and getting them out to more kids and a few other tools like malaria bed nets that we've gone from over 10 million children dying every year to now le..."

"it's been a long scientific Germany having to do with the gut inflammation and the microbiome but now we see that we'll get more of those kids on their growth path and so I'm super excited about them ..."

"Berkshire along with JPMorgan and Amazon what what have you found we haven't gotten any updates recently other than the name of this new organization is going to be Haven where are you on that process..."

"happens but I I know this I would rather have the private sector come up with a solution and throw it all the government and and if the private sector doesn't come up with some solutions of the increa..."

"of time if I can ask you gentlemen we have about a minute left if I can just ask you what you're reading because that's something we hear back from our viewers often warm what are you reading right no..."