We received the premiums on these contracts in full at the contract inception dates … With limited exceptions, our equity index put option and credit default contracts contain no collateral posting requirements with respect to changes in either the fair value or intrinsic value of the contracts and/or a downgrade of Berkshire’s credit ratings. – Warren Buffett, Berkshire Hathaway Inc., Annual Report, 2011.
Posted on: Mon, 07 Oct 2013 02:17:53 +0000
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