Sunday, April 10, 2005

BH as Fort Knox and 'Repapering'

Three articles of note out there this week, one in NY Times, one in Barrons (subscription) and a mildly interesting Morningstar piece on tuning out the noise. Barrons writes a complimentary piece, feeling secure about BH as Fort Knox in wake of scandals. NYT paints slightly more lurid picture of Gen Re’s role in notorious insurance transaction, including ‘repapering’ the trade on Gen Re’s side. Perhaps industry standard, but sounds sketchy. Munger’s law firm has known since January, but no one yet has been fired. Perhaps NYT seeing fire where there is just smoke? Who knows… Buffett interview on Monday and Greenberg on Tuesday next week. May make for bland news as stories are retold to accompany the photographs.

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