another insider sending a clear signal... local municipal and state governments in the U.S. are in serious trouble in the near future. plan accordingly. From yahoo finance:

Warren Buffett's Berkshire Hathaway ended its five-year bullish bet on the municipal bond market, disclosing in a recent quarterly filing that the Ohama, Neb., company canceled $8.25 billion worth of credit-default swaps that insured its muni-bond market wager, The Wall Street Journal reports. The Journal said it was unclear whether Buffett's decision resulted in a profit or a loss and the 81-year-old Buffett declined to comment about the early termination of the contracts.

Does Warren Buffett's exit from the municipal bond market portend more financial hardships for struggling U.S. states and cities?

Buffett's move may very well signal his fear that more cash-strapped cities, states and municipalities will default on their debt, as The Daily Ticker's Aaron Task and Henry Blodget discuss in the accompanying video. Local authorities have been making severe budget cuts (affecting both personnel and services) over the past two years to stave off bankruptcy but many are still short on funds.

http://finance.yahoo.com/blogs/daily-ticker/buffett-exit-muni-bonds-signals-t...