This is a downright shoddy article. a) An explanation of the derivatives Buffett holds, and the reasons for holding them is provided in his 2008 shareholders l

This is a downright shoddy article. a) An explanation of the derivatives Buffett holds, and the reasons for holding them is provided in his 2008 shareholders letter: http://www.berkshirehathaway.com/letters/2008ltr.pdf http://www.berkshirehathaway.com/letters/2008ltr.pdf It should also be noted that he exited a large number of derivatives contracts that he inherited with General Re prior to the GFC as he felt unable to manage or understand them. b) Buffett is arguing against retrospective changes WRT derivatives accounting. There's nothing wrong with objecting when people are discussing a retrospective change to the rules that you were operating within. c) As far as I can tell, the author would pillory anyone who doesn't attack Goldman Sachs. Buffett is entitled to his opinion.