Don't Expect Other Bidders for Bear - Certainly Not Buffett

Includes: BRK.A, BSC, JPM
by: Whitney Tilson

There will be no other bidders for Bear, but there's always some chance JP Morgan might bump their offer a bit to get the deal done -- hence, the stock trading above $2.

There will also almost certainly be rumors galore about Buffett looking at buying Bear, which is a hoot. He wouldn't go within 1,000 miles of this black box.

Just read Buffett's 2002 annual letter (in which he warned about derivatives being "financial weapons of mass destruction") and ask yourself why the world's richest man would ever take the risk and headache of dealing with something 100x worse than Gen Re Securities...