Warren Buffett & Charlie Munger; Pain at the Ports; Resisting the Dip

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 25 February 2020

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Oracle of Omaha Warren Buffett explains his relationship with 96-year-old best friend and partner Charlie Munger. Becky Quick shares insights from her years of interviewing the legendary investors in a conversation exclusive to Squawk Pod. The coronavirus outbreak is affecting shipping in South Carolina and in California. Executive Director of the Port of Los Angeles Gene Seroka comments on a pandemic’s financial fallout. Wall Street saw its worst day in two years this week; Allianz Chief Economic Advisor Mohamed El-Erian urges investors to resist buying the dip. Plus, Mastercard named a new CEO, Amazon’s launching a grocery store, and Juul’s trying to age-proof e-cigarettes.

Transcript

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0:00.0	Bring in show music please.
0:03.0	This is Squawk Pod, the daily podcast brought to you by the team behind Squawk Box.
0:08.0	NYC, this is NBC Control 2.
0:10.0	See, NBC's essential morning show.
0:12.0	PCR2. Every day get the best stories, debate, and analysis. see Wall Street weathered its worst day in two years, but Muhammad Al-Aryan urges investors to show restraint.
0:25.8	Continue to resist as hard as that is to simply buy the dip because it has worked in the past.
0:33.2	Shipping pains, the head of the Port of Los Angeles gauges fallout as the coronavirus
0:38.0	spreads.
0:39.0	What we're seeing right now is 40 cancelled sailings, and that would amount to about 25% of our normal
0:45.1	ship calls during this time post-Lunner new year.
0:48.5	And Warren Buffett, one of the world's most famous investors on when you know it's too risky to jump in.
0:55.0	You're often quoted as saying that you don't know who's swimming naked.
0:59.0	Yeah.
1:00.0	You get the sense with a high tide right now that there's a lot of skinny
1:03.2	Well we're allowing people to borrow money on much weaker terms than we were five or
1:10.5	ten years ago. You can hear more of Becky Quick's thoughts only on this podcast.
1:15.1	He's pretty biblical when it comes to how he views the world. I'm C.
1:19.4	NBC producer Katie Kramer, it's Tuesday, February 25, 2020.
1:23.8	Squack Pod begins right now.
1:25.7	Stand back you by in three, two, one, fuel brief.
1:30.0	Good morning everyone.
1:30.9	Welcome to Squackbox here on C.
	...

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