About a year ago, I commented on an article that appeared in Barron's which argued that Warren Buffett's Berkshire Hathaway (BRK.A) was overvalued. In my post, entitled Barron's Pans Buffett's Berkshire, I agreed with the article that Berkshire Hathaway stock looked overvalued. A lot has changed since then. Berkshire shares have fallen 45% from their high and hit a fresh yearly low on Wednesday at $84,000 per share.

Moody’s Investors Service has cut the rating outlook for Sabre Holdings Corp. from stable to negative. Sabre is a Southlake, Texas-based online travel reservations company taken private last year by Silver Lake Partners and TPG Capital for approximately $5 billion.
PRESS RELEASE

The implosion of the CMBS market continues today. AAA tranches of the CMBX are 100 basis points wider. Cash bonds are 200 basis points wider. As an aside, I lack proficiency in the world of CMBS so if someone sees an error please jump in and correct me.

Reuters - Best Buy Co shares fell more than 11 percent to a new year low on Wednesday, a day after Standard & Poor's cut its debt rating on the electronics retailer to the lowest investment grade.

LONDON (Reuters) - Private equity firm Antin Infrastructure Partners said on Wednesday it hopes its fundraising efforts will raise more than 600 million euros ($757 million) by the end of the first quarter of 2009.
Speaking to Reuters on the sidelines of a presentation, managing partner Mark Crosbie said the European fund had made contact with potential “friends and family” investors - institutions close to Antin’s sponsor, French bank BNP Paribas (BNPP.PA).