You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Berkshire Profit on Goldman Sachs Passes $2 Billion
- Thread starter ASusilovic
- Start date
wow, you change what others wrote (not just mine, but you did it in others' posts as well) and now you make up what others said before.
Show me where I said "listen motherf*cker, he HEDGED!".
You are a pathetic, pretentious guy! You know what I find the funniest? You seem to easily lose your cool when the air gets hot. Bad poker player, worse trade. You completely lost your control and went as far as falsifying others' comments. Hope you dont do that in your professional job if you have any. I am done with you, arguing about a topic is one thing, dealing with a liar is another. I chose not to do the latter...
Show me where I said "listen motherf*cker, he HEDGED!".
You are a pathetic, pretentious guy! You know what I find the funniest? You seem to easily lose your cool when the air gets hot. Bad poker player, worse trade. You completely lost your control and went as far as falsifying others' comments. Hope you dont do that in your professional job if you have any. I am done with you, arguing about a topic is one thing, dealing with a liar is another. I chose not to do the latter...
Quote from atticus:
asiaprop: he hedged
asiaprop: listen motherf*cker, he HEDGED!
[Buffett letter posted]
asiaprop: I never said he hedged
asiaprop: he MAY HAVE hedged
asiaprop: he hedged right before the meltdown. (Of course, it's not in Buffett's numbers, but I can work with that.)
Quote from asiaprop:
wow, you change what others wrote (not just mine, but you did it in others' posts as well) and now you make up what others said before.
Show me where I said "listen motherf*cker, he HEDGED!".
You are a pathetic, pretentious guy! You know what I find the funniest? You seem to easily lose your cool when the air gets hot. Bad poker player, worse trade. You completely lost your control and went as far as falsifying others' comments. Hope you dont do that in your professional job if you have any. I am done with you, arguing about a topic is one thing, dealing with a liar is another. I chose not to do the latter...
You've written 10x the text in this exchange. So who's losing their cool?
Now, please produce any post (prior to the posting of Buffett's letter) in which you acknowledge even the remote possibility he did not hedge.
my first post in reference to any hedge was this
and where is your proof he never hedged any of that exposure???
nowhere did I state "he HAS a hedge". And nowhere did you prove that he did not have any which leaves us at my conclusion: You do not know. So stop pretending you are in the know!
Hinting at others they are "sucking cock",and they are "motherfuckers" (previous thread), "fucksticks" implies you lost your cool or why would you bring those up, because you have a sexual issue?
I have wasted enough of my time here. Berkshire made a terrific trade on GS when nobody else bought into the market. He also made the ONLY trade to lure banks to give him couple billions which he used to make some terrific investments months later. The probabilities are hugely stacked in his favor on the puts finishing OTM by expiration. Timing was pretty bad vs his track record but I guess this kind of market in 2008 was pretty unprecedented, hard to time well.
and where is your proof he never hedged any of that exposure???
nowhere did I state "he HAS a hedge". And nowhere did you prove that he did not have any which leaves us at my conclusion: You do not know. So stop pretending you are in the know!
Hinting at others they are "sucking cock",and they are "motherfuckers" (previous thread), "fucksticks" implies you lost your cool or why would you bring those up, because you have a sexual issue?
I have wasted enough of my time here. Berkshire made a terrific trade on GS when nobody else bought into the market. He also made the ONLY trade to lure banks to give him couple billions which he used to make some terrific investments months later. The probabilities are hugely stacked in his favor on the puts finishing OTM by expiration. Timing was pretty bad vs his track record but I guess this kind of market in 2008 was pretty unprecedented, hard to time well.
Quote from atticus:
You've written 10x the text in this exchange. So who's losing their cool?
Now, please produce any post (prior to today) in which you acknowledge even the remote possibility he did not hedge.
Quote from asiaprop:
my first post in reference to any hedge was this
and where is your proof he never hedged any of that exposure???
nowhere did I state "he HAS a hedge". And nowhere did you prove that he did not have any which leaves us at my conclusion: You do not know. So stop pretending you are in the know!
Hinting at others they are "sucking cock",and they are "motherfuckers" (previous thread), "fucksticks" implies you lost your cool or why would you bring those up, because you have a sexual issue?
asiaprop: he hedged
asiaprop: listen motherf*cker, he HEDGED!
[Buffett letter posted]
asiaprop: I never said he hedged
asiaprop: he MAY HAVE hedged
asiaprop: he hedged right before the meltdown. (Of course, it's not in Buffett's numbers, but I can work with that.)
asiaprop: nowhere did I state "he HAS a hedge".
asiaprop: he has...
you have serious issues!!! I would say you yourself just destroyed a pretty decent reputation you had so far. Your lies and arrogance speak for themselves.
Quote from atticus:
asiaprop: he hedged
asiaprop: listen motherf*cker, he HEDGED!
[Buffett letter posted]
asiaprop: I never said he hedged
asiaprop: he MAY HAVE hedged
asiaprop: he hedged right before the meltdown. (Of course, it's not in Buffett's numbers, but I can work with that.)
asiaprop: nowhere did I state "he HAS a hedge".
asiaprop: he has...
Quote from asiaprop:
you have serious issues!!! I would say you yourself just destroyed a pretty decent reputation you had so far. Your lies and arrogance speak for themselves.
asiaprop: he hedged
asiaprop: listen motherf*cker, he HEDGED!
[Buffett letter posted]
asiaprop: I never said he hedged
asiaprop: he MAY HAVE hedged
asiaprop: he hedged right before the meltdown. (Of course, it's not in Buffett's numbers, but I can work with that.)
asiaprop: nowhere did I state "he HAS a hedge".
asiaprop: atticus is a liar. Buffett may or may not have conceivably given thought to the possibility of a potential reduction in exposure on his incredibly-prescient put sale.
Oh please asskiss... here's what you originally posted.
Then you realized I'm right so you went back and modified your post to try to backpedal.
Buffett didn't state "that a 25% drop in the SPX will result in a $9B liability." He was talking about a 25% drop in all four indexes because Berkshire has exposure to the S&P 500, FTSE 100, Euro Stoxx 50 and Nikkei 225. You can't draw conclusions about the S&P 500 AS YOU DID dumbass, without knowing the pertinent details of ALL the other contracts. So your 1135.5 is BS and the "$10B liability" is the YEAREND liability just as I said and the S&P 500 was barely above 900 at yearend.
From page 18:
Nonetheless, we have used Black-Scholes valuation methods to record a yearend liability of $10 billion.
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2516342>
Then you realized I'm right so you went back and modified your post to try to backpedal.
Buffett didn't state "that a 25% drop in the SPX will result in a $9B liability." He was talking about a 25% drop in all four indexes because Berkshire has exposure to the S&P 500, FTSE 100, Euro Stoxx 50 and Nikkei 225. You can't draw conclusions about the S&P 500 AS YOU DID dumbass, without knowing the pertinent details of ALL the other contracts. So your 1135.5 is BS and the "$10B liability" is the YEAREND liability just as I said and the S&P 500 was barely above 900 at yearend.
From page 18:
Nonetheless, we have used Black-Scholes valuation methods to record a yearend liability of $10 billion.
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2516342>
Quote from Trader666:
Oh please asskiss... here's what you originally posted:
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2516342>
Then you realized I'm right so you went back and modified your post to try to backpedal.
Buffett didn't state "that a 25% drop in the SPX will result in a $9B liability." He was talking about a 25% drop in all four indexes because Berkshire has exposure to the S&P 500, FTSE 100, Euro Stoxx 50 and Nikkei 225. You can't draw conclusions about the S&P 500 AS YOU DID dumbass, without knowing the pertinent details of ALL the other contracts. So your 1135.5 is BS and the "$10B liability" is the YEAREND liability just as I said and the S&P 500 was barely above 900 at yearend.
From page 18:
Nonetheless, we have used Black-Scholes valuation methods to record a yearend liability of $10 billion.
He must've sold 70% vol in FTSE! Modified? Broken link, sport.
Expiration liability at -25% = $9B. 25% loss is 1135.50 on SPX. BUFFETT'S NUMBERS. It's trivial to do the maths on the remaining indices, but we don't have the inception numbers on those, because he didn't mention it in the letter.
Zero convexity at expiration; meaning that the current mark to market must be far worse that the 10B figure, and we're 155 lower than the 25% number.
You're out of your depth. You're better served chasing Hershey, but please keep them coming.
Oh please...
Berkshire has exposure to the S&P 500, FTSE 100, Euro Stoxx 50 and Nikkei 225.
You can't jump to conclusions about the S&P with the liability for the TOTAL exposure unless you know the EXACT exposure Berkshire has in each of the indexes.
Take your zero convexity and stick it.
Berkshire has exposure to the S&P 500, FTSE 100, Euro Stoxx 50 and Nikkei 225.
You can't jump to conclusions about the S&P with the liability for the TOTAL exposure unless you know the EXACT exposure Berkshire has in each of the indexes.
Take your zero convexity and stick it.
Quote from atticus:
Buffett's talk of a $10B liability in the annual letter infers an SPX valuation <1135 and we're currently trading at 980.