I had meant to have a couple BRK posts this morning but reality got in the way.
Markets down 4%, oil down 10%, BRK.b down 6%.
I apologize and promise I'll get to it before the open tomorrow.
There are actually a few positives to the derivatives, the one that just struck me is the losses being marked to market are a non-cash charge and are thus shielding the holding company's income from the tax man.
For the time being Warren gets to hold on to a bit more of the cash flow, which ain't all bad.
Of course, should the markets turn he'll have to flow the income off the balance sheet and onto the income statement but at that time the operating companies should be kicking off more cash anyway.
I'll have more tomorrow.