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George Gilder

First Alan, now Warren…

I asked last week whether or not Mr. Greenspan might have the Park Paradigm RSS feed streaming into his blackberry; now – according to the FT – it seems Warren might be a fan too ;) -

The US banks creating a $75bn-plus “superfund” to buy the assets of troubled investment vehicles should sell 10 per cent of the fund into the open market to ensure it is properly priced, the renowned investor Warren Buffett said on Thursday.

The billionaire is the latest leading figure – including Alan Greenspan, former chairman of the Federal Reserve – to pour scorn on the fund promoted by Citigroup, Bank of America and JPMorgan Chase with the US Treasury’s encouragement.

Thanks for picking up on this point I raised when the fund was announced:

I would also raise a second point which is to highlight the potential (inherent?) conflict of interest in such a fund as it would seem that it will be buying securities from its owners and is structurally engaged in a form of self-dealing.

Well if you are reading Mr. Buffet, please feel free to comment on my MSFT post from yesterday (I understand that you might want to discuss this privately and not on my comment stream so just leave your details and I’ll send you an email, or add you to my Facebook friends, whatever is easiest for you.) :)

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