Warren Buffett Diagnosed with Stage 1 Prostate Cancer - Colin Barr, WSJ

This is what happens when you have an attractive blonde lady is your co host everybody's size there. I think that's life tonight that's doing a -- 617. Says. Yes raise the minimum wage this would force ice cream shops like cold still Kremer yum to pay more than eight dollars an hour -- Egypt all the extra the ice cream if he would lose money -- have a the extremes of more than eight dollars and any critical -- is about what is it like fifteen dollars for a a waffle cone over there I don't know it'd leave it I wouldn't be eligible for employment at Goldstone aides say get out here. -- you can't screw. No thank you get you to buy a you're eating up all the profits. They were joined now by Colin Barr from the Wall Street Journal he's done some research on the Warren Buffett's story a lot of -- concerned about the health of Warren Buffett America's favorite investor. Now Colin welcome to the show are you doing. Good morning thanks for having me. With on a scale of one to ten how concerned should we be about the health the Warren Buffett. Wolf corset to the park deported number distance -- apparently what happened is that in a routine checkup they -- The the change in and mr. Buffett tests and they. To another test and they found that he doesn't have this -- cancer but it turns out that they've caught it a point when. It actually does not have any impact on on what is life expectancy is it's it's treatable in this four minutes it's actually quite common. For men of this page so. I think that BOMR Buffett has proved quite robust over the years and while obviously he's acknowledged that he's not -- run -- forever. I think it is it appears pretty clear that he should be able continued doing that for the foreseeable future anyway it doesn't seem like there's any any great change in that right now. We'll call -- who do you think would. Run Berkshire he got hit by a bus. Evidently. Question can she question because -- of that a question we get that more and more is is that time this time -- and it it in his annual letter to shareholders this -- he said. For the first time that the company has elected successor but. In -- kind of is inching. Insight in to help broker works. They haven't announces to the public and they actually haven't even. Discussed it with the candidates so. The I think the the way it works there is that you and his top people who have made clear that they would be happy to step up it in the instance that they are needed. But -- I don't think it's more formal -- -- so we we don't really have an idea of of exactly who it's going to be there's a lot of speculation about a few people. Didn't change who run the company's reinsurance business. And Greg gable who runs the company's energy business. Few others but that's it it it it's a lot of speculation right now and we don't really have any any informed speculation terms we -- know exactly how that decisions can be made. How would impact if any has it had on the stock price today for Berkshire Hathaway. Yeah I mean Berkshire Hathaway's finishing company because as we've written about it two journalists here. The company has been trading at one of its lowest prices compared to it to its net worth. In recent years and no notice is making a huge deal out of this development the stock is down 1% today. -- -- the company will tell you that that that this question of of of how the leadership transition will be handled them when that will eventually happen. But that's something that a lot of investors are sort of take more and more. Note -- and I think everybody agrees that obviously you can have a lot of very propelled -- candidate you're not gonna come up with Warren -- mean he's -- -- there's there's no replacing -- of his stature. Do you have a sense as to how involved in the company he is today I mean he is 81 years old -- I I just we are. I'm 52 years old and and I I don't know that I would have the energy to it's a live the lifestyle that he lives. Yeah I think that there is certainly remarkable figure -- -- that the way he's structure of the company is that he has. He he. But I think there's one thing that makes makes Berkshire working for him appealing to -- top executives in a lot of cases. Is that he relinquishes -- large -- control I think that he says I I want you to do well on I want you to run the business smartly and didn't make Smart decisions. But I'm not going to second guess Q and I'm not going to. Taken urine and it asked for updates every thirty seconds to me because that -- managers that he speaks to every day and their managers he speaks to want the year. And so I think that you at this point you you have more than 200 companies within Berkshire apple apple we've complete that's right number. And and it and so you have all kinds of different different ways of approaching them I think that he. Does not get involved in the operating businesses and that's one of the reasons that I think he. Take your -- -- sort of does what he wants to do and so that allows him to do at a high level of of engagement. Does he travel on I mean he's based out of Omaha Nebraska I'm guessing he plot our travels by private jet but. Is he on the -- -- waters he able to manage this company from Omaha. Yeah I think -- I think that he prefers to me as a player from although I think he does do some traveling I think his traveling is not. That there we go out to be subsidiaries -- or were dropped -- on on the people who run companies but rather. I know that -- we know that he's traveled overseas few times in recent years places like China for instance and we. -- we see him in New York now and again where he he he sometimes makes the appearances on television and things like that. And got -- pick I would I would describe him -- is one of the most traveled the years -- there -- a lot of -- -- on the on the road constantly I don't think that's it is. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Many many years and he goes to the same office and you know there are thirteen people -- headquarters and he knows the mall in sort of he likes to have his sort of fraternity in. Besides I don't think that he wouldn't typically spend a great deal of time going beyond that but I think that this is sort of an important thing to him is that he. He continues to do this -- the I think -- -- he said yesterday makes clear you know domestic there was posters for shareholders of the company in the picked up in the media. Is that they are I'm going to keep doing what I do in the you in July I'm going to take its radiation treatment for this. But I'm not going to travel for -- I'm going to continue through you whipping him with people like that I have so it -- it's very my commitment of continuity. Good good well I appreciate your are your research and thanks very much for joining us do appreciate happily -- that's Colin Barr from the Wall Street Journal. We can rest easy to -- -- -- have to worry about -- He's got a private jet and teens of assistants then and I'm sure that will help with. It keeping his lifestyle going he has a he does stay busy -- -- probably the Keating his success in his health I've never been to Omaha Nebraska now I don't know too many billionaires in Omaha living. And happily in Omaha Nebraska.