CHINA.
DAIRY QUEENS, SOMETHING LIKE
THAT IN CHINA.
LIZ: WELLS FARGO, WELLS FARGO
WRITES A LOT OF MORTGAGES.
WARREN, YET ANOTHER REVELATION
WITH WELLS FARGO, THEY
FORECLOSED ON 400 HOMES BY
ACCIDENT, BECAUSE THEY DIDN'T
REALIZE SOME OF THESE OWNERS
DESERVED LOAN MODIFICATIONS.
JUST IN THE LAST COUPLE HOURS
THEY HAVE HAD TO FIRE A BUNCH OF
BROKERS WHO WERE FUDGING ON
THE INVESTMENT OPPORTUNITY AND
SAY, THIS IS SO EMBARRASSING,
THERE IS INCOMPETENCE AT SOME
LEVELS, I'M OUT OF THIS STOCK?
>> PEOPLE, THEY HAVE THE WRONG
INCENTIVES INITIALLY.
LIZ: DIFFERENT THINGS IN A ROW.
ARE WRONG.
I HOPE WE CATCH THEM FAST.
I HOPE IF WE DO CATCH THEM I
HOPE WE DO SOMETHING ABOUT IT.
YOU DO NOT HAVE A TOWN OF
370,000 PEOPLE AND LEAVE YOUR
DOORS UNLOCKED.
LIZ: SO YOU'RE NOT THERE YET
WITH WELLS FARGO.
APPLE, YOU'VE BEEN BUYING APPLE
56 BILLION NOW.
I HAVE TO ASK YOU, APPLE HAS
SHOULD GET IN THE ELECTRIC
VEHICLE BUSINESS AND MAYBE DO SO
BUYING TESLA.
YOU AND CHARLIE MONGER, YOUR
VICE-CHAIR, DID THIS WITH BYD,
BUYING ELECTRIC VEHICLE AND
ELECTRIC BATTERY COMPANY.
WOULD YOU SUGGEST THAT, APPLE
GET INTO IT OR WOULD YOU SUPPORT
IT?
>> I WOULD SUPPORT WHAT TIM COOK
DOES BUT I THINK IT WOULD BE
VERY POOR IDEA TO GET IN THE
AUTO BUSINESS.
IS DIFFERENT THAN SOME
BUSINESSES.
IF YOUR PREMIER WITH GOOGLE ON
SEARCH OR PREMIER WITH MOVIES ON
NETFLIX, WHATEVER IT BE, THERE
IS A HUGE FIRST MOVER AND SIZE,
NETWORK EFFECT, ALL THAT WORKING
FOR YOU.
YOU CAN WIN IN AUTOS ONE YEAR
AND LOSE THE NEXT.
YOU HAVE GOT A DOZEN BIG
COMPANIES OUT THERE WITH
RESOURCES THEY WILL KEEP COMING.
THEY COPY WHAT YOU DO.
PEOPLE MOVE FROM ONE YEAR TO
ANOTHER.
IS ON THE iPHONE AS OPPOSED,
YOU DON'T WANT YOUR WHOLE LIFE
TO BE IN ONE CAR OR SOMETHING.
IT IS NOT A, DOES NOT GIVE YOU A
PERMANENT ADVANTAGE.
MUSK TWEET, I'M GOING PRIVATE,
WOULDN'T GO PRIVATE, REVEAL
SOMETHING THEY SHOULDN'T HAVE,
HOW WOULD YOU AND HE WILL THAT?
>> IF YOU MISSPEAK, I CAN DO IT
IF YOU GOT A STOCK TRADING LIKE
CRAZY, YOU DON'T COME ON THREE
MINUTES LATER I MISSPOKE WHEN
LENDING SECURED, I MEANT TO SAY
REALLY CAN GET FUNDING.
CALLING IT RAT POISON, RAT
POISON SQUARED.
WILL NOT HOST THE NBA PROGRAMS
CALL BUFFETT U, WHERE YOU CALL
BUFFET UNIVERSITY.
YOU TOOK PICTURES WITH THEM.
DANCING WITH SOME OF THEM.
DOING WRESTLING POSES.
"CHARLIE'S ANGELS."
ARE YOU FEELING OKAY?
>> I FEEL GREAT.
MY DOCTOR SAID I'M IN WAY BETTER
SHAPE THAN I WAS A FEW YEARS
AGO.
I, I TAP DANCE TO WORK STILL.
BUT, THE ONLY DRAW BACK, AND I
DID THE STUDENTS FOR 60
MONTHS, I WOULD NEVER WANT TO
LIZ: MY DAD USED TO SAY AT 88 TO
HIS PATIENTS, MIND GETS SOFT,
ARTERIES GET HARD, SO IT
