OMAHA, Neb. (AP) -- Warren Buffett's company reported a 40 percent drop in second-quarter profit Friday because the improvement at Berkshire Hathaway Inc.'s operating companies couldn't overcome $1.4 billion in paper losses on derivative contracts.
Derivative failues are coming folks...standby to standby. $700 trillion in derivatives out there.
http://finance.yahoo.com/news/Net-income-falls-40-percent-apf-1323298987.html?x=0
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