Buffett’s Berkshire: We goofed on derivative risks

no_reply@themalaysianinsider.com (Len Pasqual) — Fri, 14 Aug 2009 00:11:37 +0000

NEW YORK, Aug 14 — Warren Buffett's Berkshire Hathaway Inc underestimated the risks of falling stock prices to its billions of dollars of derivatives bets, yet still believes it is valuing the contracts fairly.

Berkshire revealed its error in a June 26 letter to the US Securities and Exchange Commission, one of several pieces of correspondence with the regulator about the company's annual report, and made public yesterday.

It also agreed to SEC demands for more explanation on US$1.8 billion (RM6.3 billion) of writedowns on stock investments, and US$2.7 billion of auction-rate and other municipal debt holdings. On June 29, the SEC said it completed its review without further comment.

Umno papers slam MACC critics in Teoh’s death

no_reply@themalaysianinsider.com (Justin Ong) — Sun, 19 Jul 2009 03:20:51 +0000

KUALA LUMPUR, July 19 — Umno-controlled newspapers, Berita Harian and Mingguan Malaysia, today slammed critics for demonising the country’s graft-busters over Teoh Beng Hock’s death, with one suggesting there is an agenda to weaken Malay-controlled institutions.

Both newspapers accused the opposition of politicising the political secretary’s death on July 16, with Mingguan saying the federal opposition Pakatan Rakyat (PR) was using the incident to divert attention away from internal problems and weaknesses.

The Malaysian Insider

Buffett’s Berkshire: We goofed on derivative risks

Umno papers slam MACC critics in Teoh’s death