Saturday, May 02, 2009

Who's The Lucky Fellow?

From a report on the Berkshire shareholder's meeting:
To illustrate the challenges the nation faced last year, Buffett showed a sales receipt for $5 million in U.S. Treasury bonds that Berkshire sold in December for $90.07 more than face value, ensuring a negative return for the buyer. Buffett said he doesn't think most investors will see negative returns on U.S. bonds again in their lifetimes.
Link. Have heard it said that a lot of Japanese lendindg in the 90s was de facto negative, as banks struggled to blind themselves to the parlous reality. But may we know the name of the lucky fellow who has enough money to buy a bond but can't afford a Posturepedic?

H/T: Aaron.

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