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kiwing100

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    WEB lecture at University of Georgia in 2001

    in Berkshire Hathaway

    Posted

     

    Here is a lecture / Q&A session by Buffett at the University of Georgia, Terry College of Business in 2001.  Although its over 10 years old, it was relatively recently uploaded (compared to the lecture date), and it is the first time I've seen him explain clearly what he means when he says he "doesn't understand a business" ...

     

    For those of you who trade futures contracts

    in General Discussion

    Posted

     

    FYI, for those who of you who trade futures contracts, you might want to note counterparty risk exposures, if you are relying on SIPC for protection.  This is has come from a WSJ article from the Peregrine Financial Corp bankruptcy

     

    http://online.wsj.com/article/SB10001424052702303644004577523373688714462.html?mod=WSJ_PersonalFinance_PF15

     

     

    When a securities firm becomes insolvent—such as in the case of Lehman Bros. Holdings or Bernard L. Madoff Investment Securities—the Securities Investor Protection Corp. makes sure customers' cash and securities are returned to them. Customers can be reimbursed for up to $500,000, of which $250,000 can be in cash.

     

    But SIPC doesn't cover futures trades, except in rare cases when a customer has a "cross-margin account" holding both futures and securities, says Stephen Harbeck, chief executive of SIPC. "We have an extremely narrow role," he says.

     

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