A financial nuclear winter?

While George Bush was looking for Weapons of Mass Destruction in Iraq as a pretext to invade the country in 2003, Warren Buffet issued a warning on what he termed as the 'Financial Weapons of Mass Destruction' i.e. derivatives.

5 years later as predicted by the sage from Omaha, these weapons exploded taking down financial giants which have more than 100 years of history.

In came the white knight (vulture to some) from Omaha with USD 5 billion to the rescue of Goldman Sachs. Well, in return this white knight will get preference shares giving 10% interest and warrants to buy up to $5 billion of new Goldman Sach's shares at $115 per share at any time the next 5 years. Goldman shares rose to $133 per share following the announcement earning the white knight a notional profit of of $783 million

'Forecasts may tell you a great deal about the forecaster; they tell you nothing about the future.' (Warren Buffet)

Yes indeed when the forecaster is none other than Warren Buffet himself. You may profit greatly from reading the recently released authorized biography of Warren Buffet. Authorized in the sense, he actually opened himself and given complete access to the author unlike previous biographies where he neither encouraged or discouraged. So grab hold of a copy 'Snowball - Warren Buffet and The Business of Life'