swaps

Warren Buffett Portfolio: Going Beyond the Folksy Stereotypes to Find All-Star Stocks

Good article, but you should also check out Rolfe Winkler's Seeking Alpha article today on Buffet.
Warren Buffet too would have evaporated into oblivion last Septmeber if the disappearing American middle class had not bailed him out along with the rest of the banking system with massive fiat money creation to offset the derivatives black hole.
i know, the middle class did not really bail out Buffet - but their remaining imaginary equity was the only asset the elites had left to forcibly borrow against , with interest charges to accrue.
Winkler details accurately the Buffet hypocrisy.

The Next Major Financial Crisis

The looming credit card crisis can easily be papered over with more handouts from the Federal Reserve, which will charge U. S. taxpapers interest on said handouts.
Of course the inability of U. S. taxpayers to pay back the credit card handouts plus interest (presumably the pre-set default rate of 29 percent) will be the crisis after the credit card crisis.

Leucadia Is Looking Good - Barron's

I actually worked for Ian Cumming years ago when he ran a Utah land development and homebuilding company. (Lenders had placed him in charge and it eventually filed for bankruptcy and Cumming took over Talcott Factoring which morphed into Leucadia.)

He's had quite a run and he is brilliant and I note that he has made his riches from growing the company and modest stock options, unlike another top boss i worked under several rungs down the ladder - Dr. John Malone, who essentially became a billionaire by skillfully diverting stockholder equity into his pocket.

The question that is unanswered for Leucadia is whether they can match their record for another 30 years since they will both be in their 70s in 20015 and who knows what the succession plan is.

I just wish I had secretly taken a photo of Ian and stashed it away to sell to publications like Barrons that lamented they could not find one.