Warren Buffett offers $1 billion for perfect March Madness bracket

Re:Warren Buffett offers $1 billion for perfect March Madnes... by eru on Wednesday January 22, 2014 @01:21AM (#7101124)

They can probably get it insured for $2m, then.

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Re:Warren Buffett offers $1 billion for perfect March Madnes... by IgorPartola on Wednesday January 22, 2014 @01:29AM (#7101145)

What's the point? If Buffet wins, no need to pay insurance premiums. If he loses, his insurance would cover 0.2% of his loss.

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Re:Warren Buffett offers $1 billion for perfect March Madnes... by ghshephard on Wednesday January 22, 2014 @01:59AM (#7101239)

The idea is you pay $2m, and if you lose, the insurance covers the $1B (or $500m if in one lump sum)

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Re:Warren Buffett offers $1 billion for perfect March Madnes... by IgorPartola on Wednesday January 22, 2014 @06:38AM (#7102013)

Thank you. I was really misunderstanding that. Late night comments...

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Re:Warren Buffett offers $1 billion for perfect March Madnes... by jessedhillon on Wednesday January 22, 2014 @01:56AM (#7101233)

Buffet pays the $2M premium, and the insurance company will pay out the $1B in case of a winning outcome. Otherwise how is it even insurance?

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Re:Warren Buffett offers $1 billion for perfect March Madnes... by gibybo on Wednesday January 22, 2014 @02:05AM (#7101258)

Buffet (or rather, Berkshire Hathaway) IS the insurance. Quicken is paying the premium to one of Buffet's insurance companies.

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