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Squawk on the Street

Cramer's Morning Take: Warren Buffett & Apple 5/8/23

Squawk on the Street

CNBC

Business, News, Investing

4.1567 Ratings

🗓️ 8 May 2023

⏱️ 3 minutes

🧾️ Download transcript

Summary

Jim Cramer and Jeff Marks discuss the Berkshire Hathaway annual shareholder meeting and what Warren Buffett had to say about Apple. Become a CNBC Investing Club member to go behind the scenes with Jim Cramer and Jeff Marks as they talk candidly about the market’s biggest headlines. Signup here: cnbc.com/morningtake CNBC Investing Club Disclaimer

Transcript

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0:00.0

Hey, it's Kramer, and this is my morning take on the market from today's

0:05.3

CBC Investing Club morning meeting.

0:07.7

I wasn't going to say it because I watched the whole thing, but Buffett was a treat this

0:12.0

weekend.

0:13.0

And I learned a lot and I know that people say, well, what is it?

0:16.0

What can a 92-year-old and wise and man teach you?

0:19.0

And the answer is a ton, particularly when it came to bad bank

0:23.1

behavior. And that what was really at stake here is that bankers who did badly, not the fact that

0:29.7

there's a problem with banks in general. Yeah, the Buffett broadcast was great. I actually

0:35.8

caught a lot of it too. Just so many good wisdoms, especially if you're just starting out to investing or just regular life lessons as well.

0:44.4

I thought most notable his comments about Apple, very insightful, a better business than anything that they own.

0:50.8

And what a mistake he said it was when he sold a little.

0:53.8

Yeah, it doesn't seem like he's going to go after Oxy, but still really likes... And what a mistake he said it was when he sold a little. Yeah.

1:03.0

It doesn't seem like he's going to go after Oxy, but still really likes business, still bullish, I think, on oil over the immediate term. Yeah, that made you think that we're good with Pioneer and we're good with, by the way, Kotara had one of the best quarters of any of the companies we own.

1:09.4

Yeah, Kotara reported last Thursday night,

1:12.4

but it was a great broadcast overall. I really enjoyed it. And I would tell you that one of the

1:17.0

things that he said about Apple, aside from the fact he would, you know, someone would get rid of

1:21.1

a second car before they'd rid of Apple, was that he had felt that if he could bought more Apple

1:26.5

would have been, you know, he'd like that by 100% of Apple.

1:30.2

Sure.

1:30.7

Which is really perfect news because I think what he's saying is they're going to do buyback,

1:35.2

so his stake will increase.

...

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