BUSINESS

Warren Buffett stood to lose $30M if Les Bleus had won World Cup

TAGs: 2010 world cup, warren buffett

With French players/enfants terribles heading home in disgrace, few people are jeering, er, cheering harder than Warren Buffett. Buffett’s firm Berkshire Hathaway had ‘insured’ an unnamed client against the possibility of Les Bleus remaining on speaking terms with each other long enough to take the title. Well, the French are fried and Warren’s breathing a little easier. Still, one can’t help but marvel at the way that U.S. regulators and/or justice officials can view Warren’s wager as ‘insurance’ rather than ‘gambling’. Why can’t the rest of us ‘insure’ the outcome of a sporting event with such ease? Read more.

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