Buffet’s Billion Dollar TXU Mistake

by admin on June 25, 2012

Think investing in energy markets is easy?  It’s not.  Just ask iconic billionaire Warren Buffet who recently apologized to his shareholders for the billions lost as a result of his company’s participation in the disastrous 2008 buyout of TXU, Texas’ largest electricity producer.  His company, Berkshire Hathaway, has written off over half of the $2 billion investment and has stated that the investment could become a total loss.  TXU rates are maybe the highest Texas.

Full Story: http://www.businessweek.com/ap/2012-05/D9V1GL1O1.htm

See also: Texas Electricity Rates 2012

 

 

 

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