Buffett hit by $1bn junk bond loss
Warren Buffett's Berkshire Hathaway made a $1bn loss in Q4 last year on his holdings in junk bonds, according to the Wall Street Journal.
Buffett bought bonds in Energy Future Holdings and a subsidiary in 2007 at a yield of more than 10%. However, in the last two years the bonds have posted heavy losses and Berkshire says it is "unlikely"...
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