A Hard Landing, A Missing Yacht, & Warren Buffett’s Latest Letter 02/27/23

Squawk Pod

CNBC

News, Business News, Business, Investing

4.2 • 543 Ratings

🗓️ 27 February 2023

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

After digesting a hotter-than-expected personal consumption expenditures price index, the markets closed out their worst week so far in 2023. The PCE price index is the Fed’s preferred inflation metric; Aperture CEO Peter Kraus discusses the likelihood of a Fed’s soft landing in winding down interest rates and battling inflation. Warren Buffett published his annual letter to shareholders over the weekend, weighing in on buybacks, fiscal debt, and his own annual returns. The U.S. government has frozen over $1B in assets from Russian oligarchs, but holding those assets is proving to be an expensive–and legally tricky–endeavor. CNBC’s Robert Frank reports on the Russian villas, jets, and yachts in limbo. Plus, box office booms (and bombs) aren’t what they used to be, and newspapers are severing ties with ‘Dilbert’ cartoonist Scott Adams. In this episode: Robert Frank, @robtfrank Becky Quick, @BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music please.
0:04.0	This is Squawk Pod and I'm
0:06.0	CNVC producer Cameron Costa.
0:08.0	On today's episode, markets are coming off their worst week of 2023.
0:14.0	High inflation keeps getting us down.
0:17.0	Investor Peter Krause with why it's happening,
0:20.0	and how we'll recover.
0:21.0	I think the market continues to underestimate the strength of the Fed's conviction to fight inflation.
0:28.6	Yachts, jets, and villas, oh my!
0:31.3	The Russian oligarchy's wealth spread around the world in limbo or missing.
0:36.4	We are in the wake of a 500 million dollar yacht.
0:41.2	That's a big one. That looked like the love boat. Those stories
0:44.8	box office booms and busts plus Warren Buffett's latest letter and the
0:50.6	Oracle of Omaha's not holding back on buybacks or on fiscal debt.
0:55.6	The question is if you actually go back and look at buybacks on the whole,
1:00.1	are they good or bad? You could actually argue by it from the studies that they're actually bad
1:05.1	It's Monday February 27th, 2023 and Squawk Pod begins right now
1:11.4	Stand Becky by in three, two, one, queue please.
1:15.0	Good morning.
1:17.0	Welcome to Squackbox here on C.
1:18.8	We are live from the NASDAQ market site in Times Square.
1:21.5	I'm Becky Quick along with Joe
	...

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