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Rediff News  All News  » Business » How billionaires invest and get richer

How billionaires invest and get richer

February 15, 2008 11:28 IST

Warren Buffett got to play the hero recently when he offered to re-insure $800 billion of bonds for MBIA, Ambac Financial and Financial Guaranty Insurance. Buffett's plan would allow the trio to regain a firmer financial footing and inject confidence into the debt markets.

There's a catch though: Buffett only wants municipal bonds, which are at relatively low risk of defaulting. He's offering to insure low-risk debt for a hefty fee.

In pictures:
Big-money bets of the billionaires

Andrew Farrell, Forbes