Buffett slams derivs while using them

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Buffett slams derivs while using them

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FILE- In this file photo from May 5, 2014, Berkshire Hathaway Chairman and CEO Warren Buffett laughs in Omaha, Neb. The San Francisco homeless charity that benefits from the annual auction of a private lunch with Warren Buffett hopes another buyer will be willing to pay more than $1 million for the privilege again this year. Already, Buffett has raised nearly $16 million for the Glide Foundation over the past 14 years. This year’s online auction starts Sunday and runs through 9:30 p.m. Central on Friday, June 6. (AP Photo/Nati Harnik) | Nati Harnik/AP/Press Association Images

Warren Buffett, who once referred to derivatives as financial 'weapons of mass destruction', still claims to dislike their complicated structures, but sophisticated options trades and bank stakes belie this stance.

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