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Warren Buffett Loses $1.2 Billion Shorting Put Derivatives (betting AGAINST a decline in stocks)
This Link is located in the Public Channel Housing Bubble and Bear Links.
 Posted by ian 1 year 186 days ago (nytimes.com).  Views: 840
Tags: warren buffet  wall street
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DERIVATIVES LOSSES

Berkshire said it had a $1.2 billion pre-tax unrealized loss on put options it wrote on the Standard & Poor's 500 <.SPX> and three foreign stock indexes.

It also reported a $490 million pre-tax unrealized loss on contracts that require payouts if some high-yield bonds default between now and 2013.

In February, Buffett revealed that Berkshire ended 2007 with $40 billion of exposure to 94 of these kinds of contracts. Accounting rules require the company to regularly report unrealized gains and losses in earnings, Berkshire said.

The exposure may at first seem odd given that, in his shareholder letter in 2003, Buffett called derivatives "financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal."

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ian said
1 year 186 days ago
 
Warren Buffett: "Derivatives are financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal" (2002)

http://www.myprops.org/content/Warren-Buffett-On-Derivatives-derivativ...
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Housing Bubble and Bear Links (1,499 Links)
Created by ian 2 years 212 days ago in Finance. Views: 11,907. Link Views: 393,164
Tags: housing bubble  investing  real estate  subprime  mortgage  finance  economics
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This channel was created on April 10, 2007, during the peak of the housing mania, to warn investors of the coming collapse in home prices. For quite some time we have warned investors to get out of U.S. stocks. This channel represents the best of the [More...]
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Trader Made Billions on Subprime
This Link is located in the Public Channel Housing Bubble and Bear Links.
 Posted by ian 1 year 267 days ago (online.wsj.com).  Views: 860
Tags: housing bubble
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On Wall Street, the losers in the collapse of the housing market are legion. The biggest winner looks to be John Paulson, a little-known hedge fund manager who smelled trouble two years ago. Funds he runs were up $15 billion in 2007 on a spectacularly [More...]
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MyProps: Reading http://myprops.org/b1c - Housing Bubble and Bear Links
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 Posted by ian 162 days ago (myprops.org).
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twitter update: MyProps: Reading http://myprops.org/b1c - Housing Bubble and Bear Links
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Warren Buffett: Human?
This Link is located in the Public Channel reddit business.
 Posted by MyPropsMonkey 171 days ago (williamortel.com).  Views: 3
Tags: business  economics  finance  wall street
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Warren Buffett's Berkshire Hathaway Portfolio Holdings for Q1 2009
This Link is located in the Public Channel reddit business.
 Posted by MyPropsMonkey 175 days ago (caps.fool.com).  Views: 6
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Warren Buffet On An Investment News Channel
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 Posted by MyPropsMonkey 175 days ago (fortunewatch.com).  Views: 5
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Warren Buffett, Jim Rogers Warn: Inflation Ahead
This Link is located in the Public Channel reddit business.
 Posted by MyPropsMonkey 179 days ago (moneynews.newsmax.com).  Views: 5
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Video: Technical Perspective - S&P Above 1,000 by Year End?
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 Posted by MyPropsMonkey 179 days ago (feedproxy.google.com).  Views: 3
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Interview with Robert Hagstrom of Legg Mason Capital Management, Author of "The Warren Buffett Way" (Taking Stock)
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Buffett's Hathaway makes a loss
This Link is located in the Public Channel BBC News - Most Popular Stories.
 Posted by MyPropsMonkey 181 days ago (news.bbc.co.uk).  Views: 1
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Warren Buffett's investment firm makes its first loss in eight years due to a badly-timed purchase of stocks in an oil firm.
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