Buffett's 1982 Letter Warning Dingell About Derivatives

Forbes has obtained a copy of Buffett's March 5,  1982, letter to Rep. John Dingell, D-Mich., laying out the risks of  derivatives to the nation that were, of course, largely ignored. In the  letter Buffett modestly refers to his background, referencing his  previous 25 years spent as a financial analyst, and 30 years "in various  aspects of the investment business." He adds, "I currently have the  sole responsibility for an equity portfolio that totals over $600  million." It sounds prosaic now: $600 million!Full Article

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