Are derivatives 'weapons of mass destruction'?

When the sage of Omaha, Warren Buffett, speaks the financial world usually listens. Some years ago Buffett, one of the world's most famous and successful 'value' investors derided the exponential growth of the tech explosion. He was, of course, proven correct as the juvenile entrepreneurial businesses imploded and the 15-year olds who set up multi-million dot-com companies are now back at school finishing their A levels. Buffett has now turned his attention to derivatives and is using language

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