"Berkshire Hathaway Inc. Chairman Warren Buffett dismissed the importance of the government’s stress tests of major U.S. financial institutions in helping him assess banks he invested in.True, UNLESS, they get better information (as in non public information).
“I think I know their future, frankly, better than somebody that comes in to take a look,” Buffett said before the start of Omaha, Nebraska-based Berkshire’s annual shareholder meeting today. “They may be using more of a checklist type approach.”"
Saturday, May 02, 2009
Buffett Dismisses Stress Tests for Assessing Banks (Update1) - Bloomberg.com: