Markets ignoring Buffett's warning about derivatives

London

COMPLACENT markets are ignoring Warren Buffett's warning that the complex, massive derivative market could precipitate an unexpected global financial shock.

The Bank of International Settlements (BIS), the central banks' central bank, has also issued a warning - that the world's central banks would find it very difficult to counter the mass-selling of bonds, equities and their derivatives by panic-stricken asset managers.