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MarketFoolery

MarketFoolery: 08.25.2011

MarketFoolery

The Motley Fool

Money, Business, Motley, Business News, Stocks, News, Investing, Market, Fool

4.71.7K Ratings

🗓️ 25 August 2011

⏱️ 15 minutes

🧾️ Download transcript

Summary

Apple CEO Steve Jobs steps down and Tim Cook takes over. And Berkshire Hathaway CEO Warren Buffett bets big on Bank of America.

Transcript

Click on a timestamp to play from that location

0:00.0

It's Thursday August 25th and this is Market Foolery. I'm Chris Hill and joining me in studio today

0:07.1

for Motley Fool Asset Management Bill Mann, for Motley Fool Inside Value Joe Maker,

0:11.6

and for Motley Fool's stock advisor Jim Mueller.

0:14.4

Kise, good to see you.

0:15.4

Hi Chris.

0:16.4

What's happening?

0:17.4

Well, a lot is happening.

0:19.4

What is going on?

0:20.4

Yeah, it is the opposite of a quiet news day. We have Warren Buffett putting about $5 billion into Bank of America. We will get to that in a moment. But we will start with the front page news all over America.

0:34.5

Steve Jobs officially stepping down as CEO of Apple.

0:38.2

He recommended the board of directors named Tim Cook

0:41.0

as his permanent replacement.

0:42.6

Jobs will remain as chairman.

0:44.8

Obviously, there are a lot of angles to this story.

0:47.4

Joe Meager, I want to start with you.

0:49.3

And let's start with just

0:52.6

Yeah, well, I think you've got to say that he's the best CEO of our time. I mean, this is a guy who Pixar is an also ran on his

0:59.8

resume, right? Yeah. I mean, the things he's accomplished are just crazy that the work he's done

1:04.0

and apples redefined effectively brought PCs to the masses, redefine music,

1:09.5

redefine film indirectly, redefine the way we communicate.

1:14.0

I mean, it's impossible to really say how much he's done,

1:18.0

and not just all that in terms of how we interact,

...

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