Buffett says individuals should be prevented from trading index futures

Discussion in 'Index Futures' started by HotTip, May 3, 2010.

  1. HotTip

    HotTip

    I was surprised that in all the discussion about the housing bubble, the financial crisis and derivatives, that he would single out individuals trading index futures for speculation as what should be banned.

    http://www.cnbc.com/id/15840232?video=1483967932&play=1

    It's in the latter third of the video. He says it not once, but twice! Can someone explain to me how individual futures traders caused the recent financial crisis?
     
  2. Right, and maybe we should ban PE/hedge funds from losing $8billion in the selling of index puts like Buffett did.
     
  3. bone

    bone ET Sponsor

    And all OTC derivatives contracts should be regulated but his because they're vital to Berkshire Hathaway and besides they're already on the books so they shouldn't be margined like everybody else's should oh and another thing, do as he says and not as he does because he owns a chunk of GS and Obama's buttcheek.
     
  4. the general public believes whatever they are told. Most people don't even know what day trading is - all they know is what berneke says it is.

     
  5. Don't forget also that he dropped almost a billion in currency futures betting against the dollar in 2004. He's a hypocrite if I ever saw one...
     
  6. the1

    the1

    I lost all respect for Buffett when he dropped coin into GS. At that point he officially became part of the establishment. Now he is bashing futures trading by individuals. I guess he's probably behind the seizure of 401(k)'s as well. It won't be long before the government steals this mountain of wealth.

    http://www.humanevents.com/article.php?id=36823

    Buffett is now an unelected politician.
     
  7. Buffet should just shut up. When you have billions in idle cash made from various investments in business, stocks and derivatives, he has no sense of reality anymore.
     
  8. Emilia

    Emilia

    EXACTLY !!!!

    that old hag needs to retire :mad:
     
  9. bone

    bone ET Sponsor

    He and Soros are little peas in a pod. Advocates for democratic socialism now that they got theirs performing the exact same behaviors they now rail against. Same goes for their advocacy for more taxation. Do as I say, not as I do.
     
    #10     May 4, 2010