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tides

Warren Buffett, Revisited

Swimsuits and Tides Today’s recession-slash-financial crisis may not have a name yet, but it clearly has a signature parable: Warren Buffett’s now-infamous observation that “you don’t know who’s swimming naked until the tide goes out.” If you’re looking for a bookend, it would be Buffet’s equally famous pronouncement that credit derivatives are “financial weapons of...
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