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Thursday, February 14, 2008

Billionaires' high stakes financial bets

With the financial markets going through great volatility over the past few months, it is interesting to see what the billionaire investors are buying. The Forbes' slide show goes over what billionaires have been doing to take advantage of the current volatility in the markets. Some of the billionaires' bets as per the slide show include:

- Warren Buffett on bond insurance
- Kirk Kerkorian on oil and gas
- Audrey McClendon on natural gas
- Larry Blavatnik on chemicals
- Rupert Murdoch on the Wall Street Journal

While most of us are excited about the prospects of receiving $300 or so in tax rebate as part of the new stimulas package, these billionaires must be excited about many opportunities that the extreme volatility and pessimism in the markets is offering them. For instance, while the markets is freaked out about the prospects of bond insureres like MBIA and Ambac loosing their AAA ratings and going bankrupt, Warren Buffett is capitalizing on that concern by offering to re-insure municipal bonds of these companies. It will be interesting to see how the big bets of these billionaires pan out over the long term.

For complete article, see:

Forbes: In Pictures: Big-Money Bets Of The Billionaires

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posted by Ruby @ 7:27 AM

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