Downgrade

Berkshire Hathaway Loses AAA

The Oracle of Omaha's vision continues to cloud: Today influential financial group Fitch Ratings downgraded Warren Buffett's Berkshire Hathaway fund from a perfect AAA rating down one notch to AA. The downgrade makes official whispers that Buffett may have lost his touch, and that no financier can escape this recession unscathed. According to Forbes, "Fitch cited Berkshire's unhedged market exposures and potential earnings volatility as 'inconsistent with the stability required at the AAA level." Berkshire shares fell 3% in response to the fund's shift in credit rating.