Warren Buffett in Japan, Part 1 4/12/23

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 12 April 2023

⏱️ 58 minutes

🔗️ Recording | iTunes | RSS

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Summary

Berkshire Hathaway Chairman and CEO Warren Buffett is in Tokyo for the first time in 11 years. This special three-part series delivers Becky Quick’s full interview with the 92-year-old Oracle of Omaha and his successor Greg Abel in Japan. In Part 1, the Berkshire leaders explain their bullish case on Japan’s five largest trading houses, plus the similarities–and differences–in their leadership styles. Buffett and Abel discuss everything from basketball to the Berkshire-owned railroad, BNSF, while Joe Kernen and Andrew Ross Sorkin join stateside. In this episode: Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	We was robbed. Everything from basketball to Berkshire. Today we bring you an
0:06.7	extended squawk pod, chalk full of Warren Buffett. The Oracle of Omaha in
0:11.5	his first live interview in years
0:14.2	and the first major sit-down with Berkshire Hathaway's next leader, Greg Abel.
0:18.4	So how do you two work together?
0:20.0	He does all the work and I take the bows.
0:23.0	Becky Quick in Tokyo, where Buffett is raising his stake
0:26.5	and showing his support.
0:27.8	We have more money in terms of equity securities
0:31.0	in Japan than in any other country in the world and all of you are combined.
0:36.2	We're working.
0:37.2	Warren Buffett and succession how Greg Abel will manage Berkshire's many, many businesses.
0:43.4	We do have very good relationships, but there's no question.
0:46.6	It's not the same as working for Warren.
0:48.2	I've understood that and I've effectively apologized to them many times for that outcome.
0:53.0	Plus the responsibility and reality of owning railroads.
0:58.0	To say that there will never be any more railments is just plain crazy.
1:02.0	They care about safety, but will we be perfect?
1:05.1	The answer is no, it just isn't going to happen.
1:07.2	You won't be perfect. Would your response be the same as what we've seen from Norfolk Southern?
1:12.0	I think they would be terrible.
1:14.3	I'm the NBC producer Katie Kramer.
	...

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