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Warren Buffet Lobbied Against His Own Advice On Derivatives: Rolfe Winkler

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In the must-read letter obtained by Forbes, Buffett waxes philosophic on the dangers of derivatives. It's spot on correct. The kind of sensible advice many might expect to hear from him today. But as has been clearly demonstrated over the past two years, Buffett is less concerned with sound public policy than with protecting his own interests.

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Filed by Ryan McCarthy