As far back as 2003, Mr. Buffett had warned that the complex...

As far back as 2003, Mr. Buffett had warned that the complex securities at the center of today’s troubles — once so profitable, but now toxic — were “financial weapons of mass destruction.” These securities were engineered by the math quants on Wall Street, and in the interview Mr. Buffett expressed his disdain: “Beware of geeks bearing formulas.”

This is great stuff, and classic Buffett.

http://www.youtube.com/watch?v=ejIWp5E8_Fo

Would love to see the full interview if anyone can find it.

Just out of interest, Tiger, are you a Sydney-sider?