The Homa Files

Citing concerns about Berkshire’s  equity and derivatives investments, Fitch stripped Warren Buffett’s Berkshire Hathaway of its ‘AAA’ credit rating …  cutting the insurance and investment company’s issuer default rating by one notch to ‘AA+’.

The downgrade is another setback to Buffett, coming a day after the billionaire lost his position as the world’s richest man to Bill Gates. 

According to Forbes’ annual list. Buffett’s net worth plunged to $37 billion from $62 billion last year, as shares of Berkshire Hathaway fell nearly 50% in 12 months.

http://www.cnbc.com/id/29666975
http://www.forbes.com/2009/03/11/worlds-richest-people-billionaires-2009-billionaires_land.html

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This entry was posted on March 13, 2009 at 7:59 am and is filed under Financial Crisis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.