Hi,
Bloomberg reported Dexia Picks Up Bond Insurance Market Share; Buffett Enters Fray. Dexia SA, the world's largest lender to local governments, is beating Warren Buffett and Wilbur Ross to grab most of what's left of the bond-insurance business.
Dexia, based in Paris and Brussels, bought Financial Security Assurance Holdings Ltd. for $2.6 billion in 2000 and put $500 million of fresh capital into the New York-based company last month. The cash infusion helped FSA lock in the top credit rating, while Ambac Financial Group Inc. and MBIA Inc. struggle to keep their AAA grades and write new bond insurance.
Berkshire Hathaway Assurance Corp., Was setup in Last year Dec 2007. Berkshire Hathaway had expanded into a troubled field as the company backed 112 issues in just the past two days, according to Moody's Investors Service. My pervious posted Berkshire Hathaway Grow In New Bond Insurance.
For more information about Berkshire Hathaway Assurance Corp. :
Update on Bond Insurance
Interview with Warren Buffett on Bond Insurance
Warren Buffett Not Interested In Other Bond Insurers
Berkshire Hathaway Grow In New Bond Insurance
Update on Berkshire Hathaway Bond Insurance
Berkshire Hathaway Assurance Corporation Update
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I do not believe that many folks realize this about Berkshire Hathaway. When buying shares in warren buffetts holding company they believe they are getting the same deal that someone buying shares in berkshire hathaway was getting in the past. I have heard warren buffett comment in interviews do not buy Berkshire Hathaway stock simply put because of the extreme popularity of warren buffett and his holding company and its great historical record of performance the shares generally trade at a premium not a good value investment. Another thing about Berkshire Hathaway that Warren Buffett has commented about in interviews is because of the enormous size of Berkshire hathaway the holding company is forced to buy large cap and mega cap stocks which generally do not deliver real large returns. But in spite of all of this talk from Warren Buffett many investors fail to heed his advice
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