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Berkshire Hathaway Part III
Acquired
The Biggest Loss of the Financial Crisis?
Warren and charley have seen this movie before. They were leading players in the dress rehearsal of solomon in the early nineties. I remember this so well in march of two thousand eight when bear sterns, the storied investment bank failed just like solomon. The problem at bear was, nominally, it failed because they had two inhouse hedge funds that were mortgage back security hedge funds, and those ito had huge losses. That wasn't why it failed. It failed because bears counter parties stopped trusting their paper and stopped being willing to trade with them. Slik i think we know what to do here the whole thing kicks off.
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