LIZ: QUICK CHECK OF THE DOW
WE'RE DOWN 209 POINTS.
ALL RIGHT IF WARREN BUFFETT IS
ANYTHING HE'S UNBELIEVABLY
DISCIPLINED WHEN IT COMES TO
INVESTING EVEN IF IT MEANS A
SHORT TERM DING TO HIS STOCK.
BERKSHIRE HATHAWAY DOWN THREE-
QUARTERS OF A PERCENT
AFTER IT WAS REVEALED LATE
YESTERDAY THAT THE FAMED VALUE
INVESTOR REPORTEDLY WALKED AWAY
FROM A DEAL TO INVEST ABOUT
$3 BILLION IN UBER AHEAD OF THE
RIDE-SHARING APP'S EVENTUAL IPO.
THE WALL STREET REPORTS THAT THE
KING OF VALUE INVESTING PULLED
THE PLUG BECAUSE HE DIDN'T LIKE
THE TERMS AND SIZE OF THE DEAL,
BUT THAT ACTUALLY PERFECTLY
DEMONSTRATES HOW WARREN BUFFETT
HAS REMAINED THE MOST SUCCESSFUL
INVESTOR OF OUR TIME.
BE DISCIPLINED AND NEVER OVERPAY
WELL THE APPLE APPARENTLY
DOESN'T FALL FAR FROM THE TREE.
BUFFET'S GRANDSON HOWARD JUST CO
-AUTHORED SOCIAL VALUE INVEST
ING BUT HOW TO INVEST IN
VALUE STOCKS WHILE AT THE SAME
TIME HELP TO SOLVE SOME OF THE
WORLD'S BIGGEST CHALLENGES.
FIRST ON FOX BUSINESS, WE
WELCOME GRANDSON OF WARREN
BUFFETT, HOWARD BUFFETT.
GREAT TO SEE YOU.
>> LIZ THANKS SO MUCH FORESEE
ING ME.
LIZ: BEFORE WE GET TO THE BOOK
THIS UBER INVESTMENT DOES IT
SURPRISE THAT HE THOUGHT ABOUT
IT AND THE TERMS WEREN'T RIGHT
SO HE WALKED AWAY.
WHAT'S HIS THINKING ON THIS?
>> YEAH, THAT'S AN INTERESTING
QUESTION I ACTUALLY HAVEN'T HAD
THE OPPORTUNITY TO SPEAK TO HIM
ABOUT IT SPECIFICALLY SO I DON'T
WANT TO PUT WORDS IN HIS MOUTH
BUT GENERALLY WHAT UBER REALLY
SHOWS US IS PEOPLE'S KIND OF
YEARNING FOR INTERCONNECT EVER
IT AND BUILDING SOMETHING ON A
TECHNOLOGY PLATFORM THAT ENABLES
FOLKS TO LINK UP WITH EACH OTHER
AND PROVIDE IMPORTANT SERVICES I
THINK SHOWS US HOW POWERFUL THAT
SYSTEM IS SOMETHING WE TALK
ABOUT IN OUR WORK AS WELL.
LIZ: AND IT WAS PROBABLY
ATTRACTIVE TO YOUR DAD BECAUSE
HE'S TOLD ME THAT AUTOMATED
VEHICLES AND WE KNOW UBER IS
GOING THAT WAY, WILL EVENTUALLY
HURT HIS BIG INSURANCE COMPANY,
GEIKO, BUT SO YOU WOULD THINK
THAT SOLAR OR WIND MIGHT HAVE
HURT SOME OF HIS BERKSHIRE
ENERGY INVESTMENTS BUT HE HEDGES
HIS BETS HE GOES ALL INTO MANY
DIFFERENT AREAS.
>> YEAH, HE DOES AND YOU KNOW,
I DO IT'S INTERESTING I SERVE ON
ONE OF THE BOARDS FOR TOYOTA AND
AUTOMATED VEHICLES I THINK ARE
GOING TO BE AN INCREDIBLY
IMPORTANT THING IN THE FUTURE
MENT IF NOTHING ELSE WHEN
WE TACK ABOUT IT FROM A SAFETY
PERSPECTIVE WHICH IS SOMETHING I
HOLD NEAR TO MY HEART.
LIZ: WOULD THAT COUNT TOWARDS
SOCIAL INVESTING ALL THIS MOVE
TOWARD AUTONOMOUS VEHICLES?
>> THAT'S A GREAT QUESTION ANY
TIME YOU CAN BE IMPROVING
OUTCOMES FOR SOCIETY WE LOOK AT
THE VEHICLE DEATHS AS INCREDIBLY
HIGH IN THE COUNTRY I THINK IT'S
DEFINITELY AN IMPORTANT
INVESTMENT FOR ADVANCING SOCIAL
GOOD AND SOCIAL INTEREST SO WHAT
WE TALK ABOUT IN TERMS OF SOCIAL
VALUE INVESTING IS REALLY MORE
ABOUT HOW DIFFERENT PARTNERS
COME TOGETHER TO COLLABORATE SO
IT'S JUST AS MUCH ABOUT A MIND
SET AS IT IS HOW ORGANIZATIONS
WORK TOGETHER TO MAKE THE WORLD
A BETTER PLACE.
LIZ: THERE IS THE PERCEPTION
THAT SOCIAL INVESTING MAY SOUND
AND FEEL REALLY GOOD, BUT
WHERE'S THE YIELD?
WHERE'S THE RETURN?
HOW DO YOU BALANCE PICKING
CERTAIN COMPANIES TO INVEST IN
THAT ARE SOCIALLY RESPONSIBLE
BUT ALSO NOBODY WANTS TO LOSE
MONEY.
I DON'T CARE HOW MUCH GOOD THESE
COMPANIES ARE DOING, DO THEY GET
THAT RETURN, SO HOW DO YOU GO
ABOUT PICKING A STOCK THAT FITS
INTO BOTH SIDES OF THAT?
>> YEAH, WELL, IN A LOT OF
CASES IT DOES TAKE A TYPE OF
DISCIPLINE THAT YOU WERE TALKING
ABOUT AND KNOWING WHAT YOUR GOAL
ARE SO AT FIRST YOU HAVE TO HAVE
AN IDEA FOR A BASELINE OF WHAT
YOU WANT TO DO TO MAKE THE WORLD
A BETTER PLACE AND THEN LOOK AND
SEE WHAT ATTRACTIVE INVESTMENTS
FIT WITHIN THAT.
FOR EXAMPLE, THINK ABOUT THE
WORK THAT BERKSHIRE DOES IN
ENERGY ITS BEEN INCREDIBLY
LUCRATIVE FOR THE BUSINESS BUT
IN TERMS OF WIND AND SOLAR IS
DOING A LOT TO MAKE THE WORLD A
BETTER PLACE SO A COMBINATION OF
THINGS.
LIZ: SO WHEN WE PUT UP STOCKS
THAT ARE GOOD SOCIAL INVESTMENTS
THERE ARE ALSO ETF'S THAT ARE
GREEN, FOR EXAMPLE, THAT WORK
WITH CLIMATE CHANGE AND TRYING
TO HELP IN THAT SITUATION.
WHERE DO YOU STAND ON THOSE,
THOSE BASKETS OF NAMES THAT
PEOPLE LOOK AT AND SAY OH, WELL
THEY MUST HAVE DONE THE RESEARCH
>> I THINK WE'RE GOING TO SEE
AN INCREASING PER OF
OPPORTUNITIES GOLDMAN SACHS IS
COMING OUT WITH A NEW ETF THAT
FOCUSES DIRECTLY AND SOME OF THE
ONES WE'VE SEEN IN THE PAST HAVE
ACTUALLY SHOWN REALLY IMPRESSIVE
INVESTMENTS IN OPPORTUNITIES
THAT SERVE SOCIETY'S INTEREST AT
THE SAME TIME AS PROVIDING
RETURNS FOR INVESTORS.
LIZ: BILL GATES HAS ENDORSED
THIS BOOK.
HE READ IT WE WERE CALLING IT
GATE'S NEW BOOK BECAUSE I KNOW
BILL GATES TO KNOW WELL ENOUGH
TO KNOW HE DOESN'T ENDORSE
ANYTHING AND WHEN HE DOES IT'S
BECAUSE HE ABSOLUTELY BELIEVES
IN IT.
WHAT DID YOU LEARN FROM HIM HE
WAS SORT OF THE ORIGINAL GUY WHO
WENT OUT AND SAID I'M GOING TO
PUT MY MONEY BEHIND GOOD TO DO
GOOD AND TO MAKE GOOD?
>> YEAH, I SPENT ALMOST A YEAR
DO, WOG WITH THE BILL AND
MELINDA GATES FOUNDATION BACK IN
2007 AND IN PART OF WHAT WE DID
WAS TO REALLY FOCUS ON HOW DO WE
THINK ABOUT HIGH-QUALITY IMPACT,
RIGHT?
SO WHAT PERFORMANCE MEASURES DO
WE PUT BEHIND THE EVALUATION
THAT WE DO FOR GRANTS OR
FINANCIAL ALLOCATIONS AND THAT
TURNED INTO AN ENTIRE
METHODOLOGY THAT WE HAVE OUTLIN
ED IN THE BOOK SO I HAD
THE OPPORTUNITY NOT ONLY TO
LEARN DIRECTLY FROM AMAZING
PEOPLE THAT WORK THERE BUT THEN
TO APPLY THAT WORK TO WHAT WE'VE
OUTLINED IN SOCIAL VALUE
INVESTING INVESTING.
LIZ: THE BOOK IS CALLED SOCIAL
VALUE INVESTING AND DO YOU KNOW
WHAT?
YOU DON'T WANT TO PUT YOUR MONEY
BEHIND SOMETHING THAT ISN'T GOOD
QUALITY AND DOES RIGHT FOR THE
PLANET AND FOR THE PEOPLE SO
READ THIS AND YOU'LL LEARN HOW
THANK YOU SO MUCH.