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But it was a very good trade ! The way Buffett used derivatives you describe make perfect sense - they were very long term (15, 20 years) contracts, with no ex
by TheAlchemist 2y ago
But it was a very good trade !
The way Buffett used derivatives you describe make perfect sense - they were very long term (15, 20 years) contracts, with no exercise possible before maturity.
It's pretty far from the casino land we have now, when a huge portion of trading is in contracts expiring ... the same day.
- richrichie 2y agoIt was a good funding trade for him. Equivalent to billion dollar loan priced at nearly 0 spread. My point was about his condescension and hypocrisy.
- wslh 2y agoWas that investment outside fundamental investment theory?