I wrote about the derivatives basics a month back and learnt that it has a speculative element. Here's another dissection of derivatives by none other than Warren Buffet. See the entire article on Warren Buffet on derivatives.
Buffet sees derivatives as "time bombs" and a weapon of mass destruction!! Download and read on for his insights. Thanks are due to Sourav Saha who has posted this on an Orkut community called Finance Club.
Anybody needing an Orkut invite can write to me. Now I hear that your google account can log you into orkut, a google community. Send a mail if having any download problems.
While talking about downloads, Mr. Ram has put a number of books on his blog. It is a collection that will impress you for sure.