Tuesday, November 29, 2005

Fannie Mae, Freddie Mac and Other Highly Leveraged Financial Institutions

Buffett continued, "There are many things you don't know by looking at a financial company's financial statements. We've seen enough to be wary. We can't be 100% sure that we like what's going on. With some types of companies, you can spot problems early, but you spot troubles in financial institutions late." by Warren Buffett

"Financial institutions make us nervous when they're trying to do well." [Think about that one for a while.] by Charlie Munger (2001 Annual Meeting)

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