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Archive for February, 2008

Ask Warren Buffett Your Question

CNBC’s Squawk Box will be interviewing Warren Buffett this coming Monday morning and has invited us to send in our own questions. From the questions received, CNBC will select some to ask Warren. If you are interested to send in your question to Warren Buffett, you can do so at this page.

Warren Buffett is addicted to Bridge. He has this to say:

You know, if I’m playing bridge and a naked woman walks by, I don’t ever see her.

You have to look at all the facts. You have to draw inferences from what you’ve seen, what you’ve heard. You have to discard improper theories about what the hand had as more evidence comes in sometimes. You have to be open to a possible change of course if you get new information. You have to work with a partner, particularly on defense.

Warren Buffett and Microsoft’s Bill Gates love to play bridge, and they often play together online, and sometimes in person. Warren has also contributed a lot of money into a program to teach bridge to junior-high school kids and lends his name to the Warren Buffett Challenge Match, pitting the USA against Europe in the “Ryder Cup of bridge.”

National Lifelong Income Scheme

This post is specially for my Singapore readers (or anyone with vested interest with CPF monies in Singapore).

A few days ago, our government has released details of the new annuity scheme for us. They have nicely called it The National Lifelong Income Scheme.

The scheme is flexible with different payout dates available. If you are rushing to change your default scheme from”Refund 80″ to “Refund 65”, please read this post carefully first.

…Continue reading » National Lifelong Income Scheme

Warren Buffet in Canada

Last week, Warren Buffett answered questions for almost 90 minutes during his appearance in Toronto to promote Business Wire’s expansion into Canada.

He covered quite a bit on ground on credit, currency and the economy. Warren Buffett also revealed that he made “several hundred million dollars” owning the Canadian dollar, then sold, and now wishes he had kept his holdings in the Loonie.

Click here to listen to the entire Warren Buffett Question and Answer session.

Transcripts are here (part 1) and here (part 2).

Warren Buffett mentioned in an interview with CNBC this morning that he has a plan to help the troubled bond insurance situation, but so far it’s not getting a very warm reception.

Warren Buffett had offered to reinsure $800 billion in municipal bonds now insured by Ambac, MBIA and FGIC, effectively giving them a AAA credit rating. Due to problems with subprime mortgages and other loans, those insurers are in danger of losing their AAA credit ratings.

…Continue reading » Warren Buffett to Bail Out Bond Insurers

Dispelling rumors running in the market, Berkshire Hathaway (BRK.A) chief Warren Buffett says they have no plans to bail out troubled bond insurers MBIA (MBI) and Ambac (ABK).

In an interview with FOX Business anchor Liz Claman, Warren Buffett said his strategy is to create new companies in the sector, rather than bailing out existing troubled ones.

“We could have some kind of insurance transaction with them but we will not be investing in them or any other bond insurer. We’ve got our own bond insurer.”

Berkshire Hathaway Assurance, Warren Buffett’s newly created bond-insurance company, is already up and running in New York State and has done “a couple” of deals.

The Day the US Dollar Sets

I’m not too sure when these interviews were made, but I really liked the analogy given by Peter Schiff. Have a look.

More Subprime Woes

After missing a deadline to raise capital, the world’s fourth-largest bond insurer, Financial Guaranty Insurance Co., had its AAA credit rating cut to AA at Fitch Ratings.

The insurance unit’s top rating was placed under review by Fitch, Moody’s and S&P in December after downgrades of securities backed by subprime mortgages. Fitch gave the company until this week to boost capital by $1 billion.

…Continue reading » More Subprime Woes