Reggie Middleton

Ambac Does It Again

FXtrader, you are being contradictory. Either its proven or its a decade long. It can't be both, particularly in insurance where some risk and loss tails can actually be ten years or more. Buffet's own president of BHAC says the bond insurance industry's future looks shaky. Bond insurance is based on taking advantage of an incongruity of rating corporate and muni debt, and incongruity that is now being corrected.

Buffet who now owns a bond insurer even stated that you can get into a lot of trouble charging 50 points (usig leverage) that the market charges 100 points for. That is actually common sense.

Since my job is an investor and not a reporter, academic or professional blogger, the only thing that really does my credibility disfavor is negative or minimum alpha over an extended period. I thank the powers that be -thus far I seem rather credible.