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Deutsche Bank lost $1.6 billion on a single trade involving Warren Buffett, WSJ says
Embattled German lender Deutsche Bank lost $1.6 billion on a single bond trade that involved insurance from Warren Buffett's Berkshire Hathaway, according to The Wall Street Journal. The bank bought a $7.8 billion portfolio of municipal bonds in 2007, according to the report. Deutsche Bank bought default protection on the bonds from Berkshire the following year, paying $140 million in the transaction. In the decade after its purchase, Deutsche Bank managers delayed the recognition of losses on the trade, sparking an internal debate among executives and the bank's auditor, the newspaper reported. The trade had become ... (full story)
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- Feb 21, 2019 4:35am Feb 21, 2019 4:35am
- Blessed-man
- | Joined Apr 2016 | Status: Member | 444 Comments
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- Feb 21, 2019 6:12am Feb 21, 2019 6:12am
- hayseed
- Joined Nov 2006 | Status: Member | 314 Comments | Online Now
to trade and code, keep both simple... no call to impress....h
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- Feb 21, 2019 12:58pm Feb 21, 2019 12:58pm
- Lamplighter
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