”Charlie and I believe Berkshire should be a fortress of financial strength – for the sake of our owners, creditors, policyholders and employees. We try to be alert to any sort of megacatastrophe risk, and that posture may make us unduly apprehensive about the burgeoning quantities of long-term derivatives contracts and the massive amount of uncollateralized receivables that are growing alongside. In our view, however, derivatives are financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal.”
Warren E. Buffett (as of October 2008 the world's richest man according to Forbes), in consultation with Charles T. Munger, in ”BERKSHIRE HATHAWAY INC. 2002 ANNUAL REPORT”, p. 16.
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