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Insurance 'Relatively Unaffected by Recession,' Boasts Berkshire's Buffett

National News • May 4, 2009
Being a big insurer will cost Berkshire Hathaway Inc. dearly when severe catastrophes strike, but it is a good place to be in the midst of an economic downturn, Chairman Warren Buffett said. "We ...

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Subject: ratings? we don't need no sticking ratings!

Posted On: May 4, 2009, 1:55 pm CDT
Posted By: Stat Guy
Comment:
I find it very odd that Moodies downgraded the credit ratings for Berkshire's businesses when they are rock solid as best as I can determine. Wasn't it the AAA ratings given to credit default swaps which made them appear to be investment grade instruments when they were no more than junk bonds at best. How can Moodies downgrade the very companies which remain stable andn profitable? On the upside, wouldn't that make Berkshire stock prices drop and allow Warren to buy back more?
Subject Posted By Posted On
ratings? we don't need no sticking ratings! Stat Guy
May 4, 2009, 1:55 pm
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