Warren Buffett Doesn't Believe in Global Warming

Don't take my word for it, here is the WSJ:

Coastal homeowners will feel a lot safer if the next few weeks pass without a hurricane. A few bold investors could feel a lot richer.

A handful of reinsurance companies and hedge funds made substantial bets on the weather this year, collecting large premiums in exchange for covering potential disasters along the shore. With each calm day that passes, they are getting closer to securing hundreds of millions of dollars in gains.

Many insurers pared back their exposure after Hurricanes Katrina, Rita and Wilma last year, but this group waded into the market for reinsurance -- insurance that insurers buy for themselves to help pay large claims, thereby spreading some of the risk of their policies to others.

Among the big potential winners are two divisions of billionaire investor Warren Buffett's Berkshire Hathaway Inc., which used its deep pockets to sell coverage others couldn't or wouldn't issue because of fears that last summer's monster hurricanes were a taste of things to come.