Everybody who sings about one of the best and perhaps smartest businessmen in the world they forget his fees. Warren Buffet charges 25% of the profits as fees from people whose funds he manages. How many people are willing to pay that kind of fees? IN ADVANCE, not 30 years later in retrospect… Remember the […]

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This is the headline that Jonathan Weil used in his article in Bloomberg. You must read the full article. Here is a summary: Freddie had accumulated $ 34.3 billion (yes Billion) of paper losses, but excluded them from calculation of regulatory capital. All Freddie had to do was say the losses were “temporary” and they […]

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