Risk.net

Energy firms find succour

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Where the Sage of Omaha goes, investors usually follow. So when Warren Buffetthelped organise a $900 million loan last July to US energy firm Williams – whichpaid investors, including Buffett’s investment vehicle Berkshire Hathaway,34% in interest and fees – it was only a matter of time until hedge fundsmade similar moves.

And such devotion is hardly surprising, given that Berkshire Hathaway made recordoperating profits of $1.7 billion in the first quarter of 2003, more than twicethat of the

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