CHERYL: WARREN BUFFETT AND J.P.
DIMON TEAMING UP THE PRACTICE OF
TWO FINANCIAL LEGENDS THAT SAVE
NOT ONLY HURTS BUSINESS AND THE
ECONOMY AT LARGE BY FOCUSING ON
THE SHORT-TERM VERSUS THE LONG
GAINS FOR COMPANIES BUT
CONTROVERSIAL RECOMMENDATION
SENDING TONGUES WAGGING ACROSS
WALL STREET IS SOME OF THE
JPMorgan CHIEF'S CLOSEST
COLLEAGUES NOW SAYING THE MOVE
COULD ACTUALLY BE THE FIRST
POTENTIAL TURN TO THE OVAL
OFFICE FOR MR. DIMON.
JOINING US WITH EXCLUSIVE
DETAILS ON TWO BIG STORIES
CHARLIE GASPARINO.
WHAT ARE YOU HEARING ABOUT THIS?
>> SHERRA LET'S PUT THE LETTER
IN CONTEXT.
THE CRITIQUE AND THE CRITICISM
OF USING QUARTERLY GUIDANCE AND
WALL STREET AND INVESTORS A WORD
ABOUT THE NEXT QUARTER AND THE
NOTION OF SHORT-TERMISM IS NOT A
NEW CONCEPT.
THESE GUYS ARE ESSENTIALLY LATE
IN THE GAME SO YOU HAVE TO ASK
YOURSELF LARRY FINK WAS TALKING
BIG WAY.
YOU HAVE TO ASK YOURSELF WHAT
MOTIVATED WARREN BUFFETT AND
PARTICULARLY JAMIE DIMON?
HE IS NOT AT THE END OF HIS
CAREER.
WARREN BUFFETT IS AT THE END OF
HIS CAREER.
WHAT WOULD MOTIVATE HIM TO BRING
UP THIS OLD SUBJECT AND WHAT I'M
HEARING FROM FRIENDS CLOSE TO
JAMIE WHAT THEY ARE TELLING ME
IS THIS IS THE FIRST STEP, THE
FIRST FAIRLY PUBLIC STEP IN
PUTTING IT OUT THERE IN A WAY
THAT POSITIONS HIM FOR A POST
JPMorgan CAREER IN POLITICS.
I ASKED THESE FRIENDS, HOW DO
YOU KNOW BACK?
THEY SAY BECAUSE IT COMES UP
FROM TIME TO TIME IN
CONVERSATIONS WITH MR. DIMON.
HE IS NOT TONIGHT IS LOOKING FOR
POLITICS IS THE NEXT STEP TO THE
POST JPMorgan -- JPMorgan
CAREER.
BY THE WAY IS NOT GOING TO BE A
JPMorgan FOREVER.
IN THE NEXT THREE YEARS IS LIKE
YOU TO BE OUT OF THERE BUT A LOT
OF PEOPLE TALK ABOUT THAT SO
WHAT OFFICE MIGHT HE BE GO FOR?
WELL HE LIVES IN NEW YORK CITY
BUT I'M SURE HE HAS FRIENDS ALL
OVER THE PLACE.
HE'S A RICH GUY BUT THE BIG
OFFICE IS THE ONE HIS FRIENDS
SAY HE MAY CONSIDER AND THAT'S
PRESIDENT.
WOULD HE RUN AS AN DEMOCRAT OR A
REPUBLICAN OR AN INDEPENDENT?
I CAN'T TELL YOU.
IT'S EASY TO SEE THAT TRANSITION
AND THIS GUY.
HE SEES DONALD TRUMP DOING IT.
DONALD TRUMP'S NEVER RUN A BANK.
THIS GUY KNOWS HOW TO DEAL WITH
IT AND HE UNDERSTANDS POLITICS
THAT I WOULD SAY HE'S A FISCAL
CONSERVATIVE, SOCIAL MODERATE,
KIND OF FITS WITHIN THE
MAINSTREAM OF AMERICAN POLITICS
PLUS HE'S REALLY SMART.
PLUS HE CAN RAISE MONEY.
THIS IS A GUY THAT IS PRETTY
WELL-POSITIONED.
WHAT DOES HE SAY ABOUT THIS
PUBLICLY?
I HAVE NO INTENTION.
ANYTIME ANYBODY SAYS THEY HAVE
NO INTENTION THEY ARE WEASELING
AROUND THIS.
THAT MEANS RIGHT NOW THEY MIGHT
NOT WANT TO DO IT BUT THEY ARE
HOLDING IT OPEN BECAUSE IT'S THE
OBVIOUS NEXT STEP FOR HIM.
IF HE DOESN'T RUN FOR OFFICE I
CAN SEE J.P. DIMON BEING THE
PROFESSOR.
IT'S GOING TO BE ONE OF THE
OTHER BUT A LOT OF HIS FRIENDS
SAY HIGHER OFFICE AND DON'T BE
SURPRISED IF HE CONSIDERS
RUNNING FOR PRESIDENT.
THAT'S WHERE HE IS RIGHT NOW.
CHERYL: YOU ARE WHERE ALL THE
MONEY IS RIGHT NOW CHARLIE PETIT
WANT TO ASK YOU WHY YOUR IN
TIMES SQUARE AT THE SHERATON
BECAUSE YOU ARE AT THE EPICENTER
OF WHERE FOOTBALL AND MONEY
MEET, THE BEST PLACE TO BE.
>> OH YEAH AND BY THE WAY WE
WERE BEING SPIED ON BY THE NFL
WORRIED ABOUT SOME OF MY
REPORTING ON THE CONSTERNATION.
THIS IS THEIR SPONSOR SUMMIT.
ROGER GOODELL IS INCITED MANY OF
THE OWNERS WITH THEIR SPONSORS.
PEPSICO SHOULD BE HERE.
THERE'S A LOT OF WORRY INSIDE
WITH WHAT THE NFL HAS TO DEAL
WITH OVER THIS KNEELING
CONTROVERSY.
WOULD YOU AGREE WITH THE PLAYERS
AND WHETHER YOU LIKE THE NFL'S
NEW POSITION WHICH IF YOU WANT
TO TAKE ONE NEED DO IT IN THE
LOCKER ROOM.
YOU CANNOT DO IT OUTSIDE DURING
THE ANTHEM.
NO MATTER WHICH WAY YOU PUT IT
THE FANS BY AND LARGE DON'T LIKE
IT AND WHAT SOME OF THE SPONSORS
ARE WORRIED ABOUT IS THAT
DISLIKE FROM FANS.
IF THEY GET A BACKLASH THAT
IMPACTS THE BRANDS.
I CAN TELL YOU LAST YEAR WHEN
THE STUFF WAS BOILING UP
PRESIDENT TRUMP TWEETING A LOT
ABOUT IN THE STILL TWEETING
ABOUT IT.
PEPSICO WAS INUNDATED WITH CALLS
FROM CONSUMERS ABOUT THEIR
SPONSORSHIP OF THE NFL WHILE THE
NFL WAS ALLOWING PLAYERS TO TAKE
ONE KNEE DURING THE ANTHEM.
THAT IS ESSENTIALLY WHAT THEY
ARE TALKING ABOUT IN THERE.
AGAIN THEY DON'T LET US IN.
WE ARE NOT A SPONSOR OR A MEMBER
HERE.
I'VE TALKED TO PEOPLE WHO ARE IN
THERE AND THERE'S A LOT OF
WORRIED PEOPLE ABOUT THE
BUSINESS OF THE NFL AND HOW THE