According to a Securities & Exchange Commission regulatory filing, Berkshire Hathaway Inc. managed by world famous investor Warren Buffett, dumped half of their $16.5 billion investment in the municipal bond market. The Wall Street Journal described the secretive sale of a huge amount of “munis” by such a dominant investor as a “red flag” for [...]
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The klaxon horn went off this evening for California municipal bondholders when Moody’s credit rating service issued a report stating that the plummeting financial condition of many California counties, cities, school districts and other government agencies will soon result in large numbers of municipal bankruptcy filings. Concerned about their own potential liability for providing high [...]
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