Is Warren Buffet wrong and seen as slipping? Well I could never read Snowball –  i thought it was too boring. But now I have renewed respect for the author, so may read it

However I may not agree with Alice on the Goldman Sachs case. There is too much heart burn all over the world, most journalists do not understand reinsurance. Frankly, WB is saying ‘If I need insurance there are only a few things I look for –

is there something in my portfolio which needs insurance?

is there somebody willing to write the policy, the way I want it?

is the price at which I am buying WORTHWHILe for me to buy it?

does the writer have the ability to pay if the event happens?

WHO is at the other end of the transaction SHOULD not matter. His view is in the price, and as long as he cannot INFLUENCE the event, it should not bother me. Completely correct. FRankly nobody seems tobe saying that Paulson could influence the CDO crisis,he was only predicting it. Any way Alice will surely get a lot of publicity…so have fun Alice!

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  1. excuse me, think Buffett is human after all, and everybody can slip up, once in a while. BTW he is the CEO of Berkshire and not the USA so whats wrong in protecting Berkshire’s interest?
    Most media people are left of centre and are fuming someone is making money at , well, the state’s expense. Well the state should figure out how it cannot happen- arthaat dont allow firms to become “too bg to fail”. Taleb warned us about that and actually said this about banks in 2007. John Paulson encashed.problem?
    If you cant allow big firms to fail, why crib if the firm makes legal money if not ethically? ethics was never the strong suit for the West.

  2. WB is human, but today he has created an image of being the conscience keeper of the world. Surely there are a lot of people who make a lot of money, but keep a low profile. If you wish to be in the public space, there will be some scrutiny of your private life. Go to google and see what his daughter is saying about him…not so simple, I guess to be different from the world, thumb your nose to many accepted practices (not changing house for 30 years will soon be outlawed in US), give gyan, AND LOBBY for oneself while arguing that lobbying is wrong

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