535 whores of israel at the expense of 300mm "goyim".....that should be pretty simple to turn around. grimer11
How much are the dues to become a skinhead these days? Can't be too much if they let you in right? You don't actually believe they'd make it obvious to someone of your limited intellect who or what caused 911 do you? Go back to cleaning toilets and let others deal with the world's problems. I think your break is over anyway. What IS the employee discount at McDonalds? Are you number 11 because your parents drowned the first ten clones of Hitler? Sorry, couldn't resist!
He should be footnoted by Taleb. Just because he's one of the greatest stock investors of all time doesn't make him an expert on everything in the financial world. Derivatives are a zero sum game. Their purpose is merely risk transference. I win, you lose. That simple. Arguably the advancements in hedging vehicles is why we HAVEN"T had more accidents in the past few decades.
u guys are still invoking hitler?......ha that explains ben sherman's line of "clothing".....you're a fading joke. grimer11
Each time the market plunge they use his declarations to justify. Last time it was "100% probability of nuclear terrorist attack".
For those who have short lived memory: AP, Bloomberg Buffet predicts nuclear attack May 7 2002 Investment guru Warren Buffett offered a bleak prediction for the nation's national security, saying a terrorist attack on American soil is "virtually a certainty". Envy and dislike of the United States have fuelled rage against the country even as the ability to build a nuclear device has spread, Mr Buffett said on Sunday at the final day of Berkshire Hathaway's annual meeting. "We're going to have something in the way of a major nuclear event in this country," Mr Buffett said. "It will happen. Whether it will happen in 10 years or 10 minutes, or 50 years . . . it's virtually a certainty." Washington and New York would be the top two targets because terrorists want to traumatise the country and kill as many people as possible. Chemical or biological attacks are similarly high risks, he said. Terrorists could harm thousands of Americans by simply introducing a chemical or biological agent into the ventilation system of a major office building. advertisement advertisement "People are working on it," he said. "It could make the World Trade Centre loss look like nothing." Mr Buffett's remarks come as the insurance industry re-evaluates business in the wake of the September 11 terrorist attacks. Berkshire and other insurers absorbed as much as $US70 billion ($130 billion) of losses from the destruction of the twin towers that killed about 3000 people. "The capability to strike using nuclear, chemical or biological devices isn't there yet, but it will be," Mr Buffett told investors. Mr Buffett is the second richest man in the world with holdings in Coca-Cola, American Express and The Washington Post, but his main business is insurance. Berkshire's insurance companies - particularly General Re Corp - took a $US2.4 billion underwriting loss because of the September 11 terrorist attacks in New York and Washington. The companies are now writing policies on terrorism but limiting their liability in any nuclear, biological or chemical attack. Only the Federal Government can ultimately insure property and other damage from a major terrorist attack, Mr Buffett said. The 71-year-old Mr Buffett and vice-chairman Charlie Munger met the news media the day after they spent six hours answering questions from Berkshire shareholders gathered for the meeting.
Hahahahahaha ! Same for major financial crisis. The Central Bank will refuse to intervene because it is private interests. In 1929 they didn't intervene and in the future don't count on them either : they will let the world sink rather than risk their money: they only do so when there is no real risk !
We all have to remember what business Buffett is in when we view these statements....selling insurance premium
Yes, derivatives are RISK TRANSFERRING instruments. Makes one wonder who will be the last one to hold the bag... I win, you lose. Or you win, I lose. BUt who will really lose? The public? The i-banks? Companies? If it comes all crashing down who will lose?
One forget something: it is "only" zero sum game IF as SYSTEM derivatives alone are taken into account. IF it DERIVATIVES PLUS THE REAL ASSETS it is NEGATIVE SUM GAME as derivatives can be emitted in UNLIMITED QUANTITY and far outpass the real assets. The emission of BONDS which are DEBTS has served as a screen smoke to insure these derivatives. But the systemic risk comes just from these huge debts. If there wasn't risk on debts there wouldn't be any systemic risk and so no derivatives risk ! This means that if the debts explode, as it has always done since the romans - because derivatives existed under Roman Empire for those who ignore - the real assets is not even enough to absorb the huge amount of fake liquidity created. And now think of this : who own these debts own these real assets. Guess what foreign countries own these debts with their petrodollars...