Quotes Entirely Relevant to Investing 12-02-2007
by Mr JugglesI find it extraordinary that if you have two derivative dealers — Dealer A and Dealer B — and both write a ticket, Dealer A records a profit and Dealer B records a profit, particularly if it’s a 20-year contract. That is the kind of world I’d love to live in, but I haven’t found it yet.
Warren Buffett
HT to To the Hilt
….says the same guy who calls derivatives “WMDs”, cries that he doesn’t understand them and yet somehow makes boat loads of money by “arbing” the most liquid of all derivatives because “they’re wildly mispriced.”
Warren Buffoon