Craze About Derivatives
By Tom Plate Professor at University of California, Los Angeles Director of Asia Pacific Media Network LOS ANGELES _ Although Warren Buffet does have _ I reluctantly admit - more money than I do (like maybe $50 or so billion more, shall we guess?), we do share a pair of traits in common. The first is that this internationally famous investment banker (known here as the ``Sage of Omaha") tends to favor more cautious, carefully considered kinds of investments. So do I. But my caution is more like investment laziness: I prefer not to have to worry about what my money is doing when I am trying awfully hard to do a decent job as a professor, a columnist, a husband and a book writer. Sure, if I had absolutely nothing better to do with my time than to worry about money 24 hours a day, seven days a week, I might be a lot less lazy about how I invest what little of it that I have _ and then I might have a lot more to invest, right? Or _ the way the markets have been misbehaving lately _ I might just as well wind up with less, a lot less. The second commonality between W