Heinz Blasnik- Views You Can Use Message Board

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Strategies & Market Trends : Heinz Blasnik- Views You Can Use

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To: Wyätt Gwyön who wrote (713)	5/5/2003 9:18:02 PM
From: EL KABONG!!!	of 4912

Darfot, Re: Munger... story.news.yahoo.com On derivatives Buffett: "I find it extraordinary that you have two derivatives dealers and they write a ticket and Dealer A records a profit and Dealer B records a profit: that's a world I'd like to live in, but I haven't found it yet." Munger: "In engineering, people put big margins of safety in systems.... In the financial world and derivatives it's as though nobody gave a damn about safety.... I'm more negative than Warren: I'll be amazed if I live another five or 10 years and we don't have a significant blow-up." Buffett: "They've been advertised as shedding risk, reducing risk in the system. I think they have long crossed the point where they reduce risk and now they're adding risk.... You haven't shed risk at all - you've transferred it to a very few players and those players have great interdependencies." KJC

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