Don,
I've been following that story. I happen to be online and in the BRKA Yahoo message board at the exact time the rumor was started. There were 3 or 4 of us searching for verification and communicating but we couldn't find anything. It was later denied in a Omaha based newspaper. The rest of the media sort of caught up yesterday.
That's the 2nd false rumor about BRK in the last couple of weeks. The last one was that the derivatives unit of General Re blew up. (also denied)
It could be a couple of immature idiots starting them, maybe a short seller.
The paranoid part of me thinks that Warren is out of favor with Wall St. for telling too many truths about the values, accounting scams, unrealistic expectations, spins of reality, etc... Truth and Wall St are not compatible.
How can venture capitalists, options holding executives, investment bankers, brokers, strategists, analysts, etc.. pillage a nation of middle class investors if someone with a respected reputation for high integrity keeps telling them the truth? (g)
Wayne |
