Jim rogers was right again. The seller know more the buyer. re: Buffet investment "The $10 billion investment in Occidental, his first major deal in four years, was instrumental in allowing the company to win a bidding war for Anadarko Petroleum Corp. But the transaction is only exacerbating Occidental’s troubles. Previously a steady, diversified oil producer, Occidental is now a heavily indebted shale oil producer highly subject to the whims of crude prices. Buffett himself conceded last year that the success of the deal depended on the vagaries of the oil market. While Buffett’s preferred shares don’t trade, the plunge in price on the company’s common stock, down 62% this month, and in its benchmark bonds, down 25%, provide clues about the market’s perception of the value of his investment."