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Buffett on cnbc Friday March 14


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I totally forgot about this being on, else I would have taken the morning off of work on Friday. Besides Buffett's insights, I do find it interesting watching Becky Quick and Joe Kernen. Becky is acutely aware that the guests (Buffett and Gilbert) are the stars of the show. She asks interesting, probing questions and let's the guys talk. Kernen wants to be the "star" and will add his two cents (the literal and figurative value of his comments) which do not add to the content of the discussion but seem to me to serve as "I'm smart, too". Yes, this is an entertainment business and CNBC wants to be entertaining, but sometimes Kernen needs to step back completely and let the business people talk business.

 

 

-Crip

 

 

 

 

 

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I totally forgot about this being on, else I would have taken the morning off of work on Friday. Besides Buffett's insights, I do find it interesting watching Becky Quick and Joe Kernen. Becky is acutely aware that the guests (Buffett and Gilbert) are the stars of the show. She asks interesting, probing questions and let's the guys talk. Kernen wants to be the "star" and will add his two cents (the literal and figurative value of his comments) which do not add to the content of the discussion but seem to me to serve as "I'm smart, too". Yes, this is an entertainment business and CNBC wants to be entertaining, but sometimes Kernen needs to step back completely and let the business people talk business.

-Crip

I suppose they bring folks like Buffett and Gilbert on the show occasionally to still stay relevant in the eyes of investors. Because much of the rest of their shows with idiots like Cramer, Kernan et al,  are aimed at peddling the exact wrong advice (buy when it is time to sell and vice versa) clothed in silliness and stupidity aimed at helping the market makers steal money from the naïve participants. 

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transcript: http://www.cnbc.com/id/101495338

 

GILBERT: WARREN ARE YOU SURPRISED THAT WITH THE AMOUNT OF CAPITAL THAT IS ON THE BALANCE SHEETS OF MOST BIG COMPANIES AND THE INTEREST RATES BEING SO LOW THE LACK OF CAPITAL INVESTMENT THAT PEOPLE EXPECTED -- IF YOU WOULD HAVE TOLD PEOPLE THERE WOULD BE SO MUCH CASH ON BALANCE SHEETS, THEY CAN'T GET A RETURN IN INTEREST RATES, WHY AREN'T COMPANIES AND EVEN INDIVIDUALS TAKING BIG CAPITAL INVESTMENTS? THAT'S THE PART I'VE NOTICED. IT SEEMS PEOPLE ARE WAY MORE RISK AVERSE THAN THEY HAVE BEEN.

 

BUFFETT: WELL WE HAVE INVESTED RECORD AMOUNTS BUT THE INTERESTING THING IS THE BIGGEST AMOUNT OF CASH IS ON THE BALANCE SHEETS OF COMPANIES THAT DON'T NEED CASH. IF YOU HAVE AN EXTRAORDINARILY PROFITABLE BUSINESS, YOU KNOW, WHETHER IT'S APPLE OR WHETHER IT'S MICROSOFT OR WHATEVER, THE CASH JUST ROLLS IN. YOU DON'T HAVE THINGS TO PUT IT IN. YOU PUT A LOT IN R & D BUT THAT GETS EXPENSED. THE RETAINED EARNINGS REALLY DON'T HAVE A PLACE TO GO IN MOST OF THOSE COMPANIES. THAT'S THE REASON THEY'RE WONDERFUL BUSINESSES. GOOGLE IS TRYING TO USE IT IN A FEW OTHER WAYS A REALLY HIGHLY PROFITABLE BUSINESS GENERATES CASH AND THEY DON'T USE IT.

 

GILBERT: SHOULD THEY BE RETURNING IT TO THE SHAREHOLDERS?

 

BUFFETT: PROBABLY.

 

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I thought Mr. Gilbert asked the best questions during the interview.  They should have him back whenever they have an intelligent guest.  That way we wouldn't have to listen to Mr. Kernen's stupidity.

 

Thanks for posting the transcript.

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  • 7 months later...

Resuscitating this from the dead...the post above discusses, among other topics, Joe Kernan. Well, this little clip from earlier today demonstrates the level with which he is ill-equipped to be on television. Really sorry stuff.

 

 

https://www.youtube.com/watch?v=qWmLjBEyFMg

 

 

-Crip

Vow!! new low.

Couple of highlights:

1. You guys use Euro?? why not Sterling. Scotland, dont they use Scotish pound?? Northern part(northern ireland) uses pound why not the southern part?

2. Arent you guys part of the same island as Scotland?

 

I am sure some irish folks will be really upset with this idiot on so many levels. Not knowing geography, countries, currencies used, etc.

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