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Friday Sep 5 2008
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[CPDO rating error] Buffett doesn’t blink
Even as Moody’s shares were being hammered in New York trading, The Sage of Omaha seemed unmoved by his attendant paper loss of $250m or so.
Said Warren, whose Berkshire Hathaway owns a 19.6 per cent stake in Moody’s, at a Madrid news conference:
I would doubt very much that any events of any one day will permanently change the franchise value of Moody’s
Related links:
Is is finally time for Warren Buffett to take Moody’s over his knee and give it a good spanking? - 1440 Wall Street
Moody’s Falls Most Ever After Ratings Error Probe - Bloomberg
Article Series - CPDO rating error
- FT Alphaville exclusive: Moody’s error gave top ratings to debt products
- Moody's statement to the FT
- A CPDO rating explainer
- CPDOs' triple A failure
- Buffett doesn't blink
- US senator Schumer's letter to Cox
- Moody's Confirms External Review of European CPDO Rating Process (Statement)
- Moody's on ratings watch negative
- Moody's CEO makes statement
- Moody's hopes to put CPDO errors behind it
- Cox responds to Schumer
- S&P admits modelling flaw
- Moody's ousts structured finance head, admits breaches to code of conduct
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