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HomeWarren Buffett: Financial Statesman or Just Another Hack?
Posted by Larry Doyle on May 3rd, 2010 8:54 AM |
Warren Buffett
The Oracle of Omaha Warren Buffett is widely regarded as a true financial statesman. From his understated lifestyle to his self-deprecating manner to his simple wisdom in his books, Buffett has always appeared to be a world apart from most, if not all, other financial titans. While Buffett deserves plenty of the respect accorded him, let’s not totally sanctify him just yet. Why?
Buffett’s widely publicized opinions on the regulations of financial derivatives and the treatment of Goldman Sachs also show him to be just another financial hack (albeit it a VERY BIG one) “talking his positions.” Let’s navigate.
In regard to derivatives, let’s not forget that none other than Buffett defined these financial instruments as ‘weapons of mass destruction.’ (more…)
