- Warren Buffett's Bud Beer Money: $2.5 Billion
- Buffett Support for Bud Deal with Belgians Helps Drive "Active" Friendly Talks - N.Y. Times
- Warren Buffett's Berkshire Hathaway Teams With Kuwait in $15B Dow Chemical Deal
- Low-Tech Warren Buffett "Probably" Getting Amazon's High-Tech E-Book Reader
- Warren Buffett's Annual Stock Gifts to Charity Total $2.17 Billion This Year
- Pisani: New ETF = Play on Mid-East Growth
- Existing Home Sales: A Look At Numbers That Weren't There
- Comicon: Not Just Funny Business
- See What People Are Saying About... Water Scarcity
- Microsoft's Ballmer Addresses Analysts
- Fast Money: Wall Street Got Drunk!
- Play the Coming Power-Grid Upgrade
- Microsoft's Johnson: What His Leaving Means For Company
- Essential Oils For Your Portfolio
- Gassing Up With Garbage
- UBS Target of Fraud Suit from NY Attorney General
- SEC Plans to Broaden Curbs on Short Sales: Cox
- 30-Year Bond Gains Full Point as Stocks Weaken
- FCC Agrees to Approve Sirius Pruchase of XM: Report
- Union Pacific Profit Rises, Beats Estimates
- Bristol Profit Beats Forecasts, Helped by Plavix
- Jobless Benefit Claims Rise above 400,000
- 3M Profit Up 3%, Tops Estimates
 |
In response to a question from Michele Caruso-Cabrera about Buffett "going after" his business, Brown suggested Buffett might not be in it for the long haul:
"I have competed with Warren Buffett in the insurance space most of my life. They're tough competitors. They offer a unique product. And they also like to come in and out of markets. The muni market, or the structured market, when you look at it, needs constant players in there. We've seen a huge drop in bond coverage provided by the market.
Warren saw an opportunity. Warren never misses an opportunity to jump in, especially when there's stress. And so I think I'm pretty comfortable we can compete with Warren."
It's an interesting interview, with Brown talking in detail about his plans and goals for the troubled bond insurer, which today held onto its AAA rating from Moody's, at least for now. He revealed that MBIA is done raising "significant dilutive capital."
You can watch the entire conversation in this video clip.
Today, Standard and Poor's said it will give its top AAA credit rating to bonds backed by Berkshire Hathaway Assurance Corp., even though the new insurer does not yet have its own credit rating. S&P says that's justified by "significant contractural commitments" from another Berkshire subsidiary that does have a triple-A. Moody's announced a similar decision late last week.
Current stock prices:
MBIA [MBI
Loading...
()
]
Berkshire Hathaway [US;BRK.A
Loading...
()
]
Questions? Comments? Email me at
Related Warren Buffett Watch Posts |
Del.icio.us
Digg It
Data is a real-time snapshot *Data is delayed at least 15 minutes