Thursday, October 9, 2008

This Is Insane

Wesco Financial (WSC) is down $58 or 17%. This is the insurance company run by Charlie Munger, who sits next to Warren Buffett at every annual meeting of Berkshire. Does the market really feel that Wesco is going to take a loss because it owns CDO's or some other toxic paper?

2 comments:

David Templeton, CFA said...

Rationality seems to have fallen by the wayside over the last few trading days.

bhargava said...
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