March 6, 2016 Two hundred years have passed since president Jefferson wrote this letter, and not only have we not acted to reduce the risk of total collapse of our financial system, it’s actually worse by many orders of magnitude -and there’s no relief in sight. Today our largest private … Continue reading
Category Archives: Derivatives
2002 Buffett on Derivatives
January 16, 2016 Excerpt from Warren Buffett’s 2002 Letter to Shareholders explaining what derivatives are and why he considers them “financial weapons of mass destruction.” ”Derivatives, in fact, deserve an extensive look, both in respect to the accounting their users employ and to the problems they may pose for both … Continue reading