“Did Warren Buffett take the recent Federal Reserve warning on municipal bonds seriously? Zero Hedge is reporting that Buffett has covered an $8.25 billion muni cds long risk (short CDS) position, which becomes profitable if muni bonds go up in value. He has terminated the position 5 years early and has apparently lost a few hundred million by getting out of the position early. As any Buffett follower knows, he is a long-term investor and rides out short-term bumps’ if he is bailing with a few hundred million in losses, he is expecting trouble in the muni market.”
http://www.economicpolicyjournal.com/2012/08/warren-buffet-bails-out-of-muni-bonds.html
Related posts:
Anthony Gregory: Do We Want a ‘Stop-and-Frisk’ Society?
The Last Secular Arab Country
‘Surgical Strikes’ an Orwellian Dream
Detlev Schlichter: Forward Guidance? – Nonsense! Central bankers have no choice.
Pepe Escobar: The indispensable (bombing) nation
2009 Promise of Cheaper Health Care Has Morphed Into 2013 Price Hikes
The Really Scary Thing about the TSA
The Veterans Administration: News Cycle vs. Spin Cycle
Will Google Glass Change the World?
Official Report of Israeli Assassinations in Iran
Is It Good News or Bad News that the White House Has Delayed the Obamacare Employer Mandate?
Antiwar.com's Justin Raimondo on Rand Paul, President Obama, Murray Rothbard and Much More
ObamaCare Is Just a Stepping Stone to Nationalized Health Care
Oliver Stone Was Right about the CIA
Ron Paul: Iraq Collapse Shows Bankruptcy of Interventionism