As described by John Gapper in the Financial Times recently, the crisis in world financial markets was anticipated by Warren Buffet, who warned that derivatives were “financial weapons of mass destruction” in the Berkshire Hathaway Annual Report 2002 . With the benefit of hindsight many a central banker will be wondering why that annual report […]
Archive for September, 2008
“The derivatives genie is now well out of the bottle.” Warren Buffett, 2002
Friday, September 19th, 2008