Crunch Hardtack
Member
- Joined
- May 2, 2006
- Professional Status
- Certified Residential Appraiser
- State
- Ohio
Link: http://www.bloggingstocks.com/2008/...by-1-7-billion-worth-of-financial-wmd-losses/
Excerpt: "Berkshire's financial WMDs cost it $1.7 billion. Its pretax derivatives losses included a $1.2 billion loss on put options it wrote on the Standard & Poor's 500 and three foreign stock indexes and a $490 million loss on contracts that require payouts if some high-yield bonds default between now and 2013.
Worst of all, Berkshire's cash fell almost $9 billion to $35.57 billion -- down from $44.33 billion at year end."
Can't feel but so sorry for the guy.
Excerpt: "Berkshire's financial WMDs cost it $1.7 billion. Its pretax derivatives losses included a $1.2 billion loss on put options it wrote on the Standard & Poor's 500 and three foreign stock indexes and a $490 million loss on contracts that require payouts if some high-yield bonds default between now and 2013.
Worst of all, Berkshire's cash fell almost $9 billion to $35.57 billion -- down from $44.33 billion at year end."
Can't feel but so sorry for the guy.
