No betting on the municipal-bond market for Berkshire Hathaway
Has Warren Buffett given up on American cities? That is the question potential investors are asking after news that Buffett’s investment firm has decided to end a huge wager on the municipal-bond market, according to The Wall Street Journal.
Berkshire Hathaway, Inc., the billionaire investor’s Omaha, Neb.-based company, recently terminated credit-default swaps insuring $8.25 billion of municipal debt. The termination was disclosed this month in a quarterly filing with regulators.
Read the entire story in American City & County, our sister publication.