(Daily Finance) — Warren Buffett, widely regarded as an investment genius, is little noted for his polished PR skills, yet he’s a Teflon investment guru that attracts little whiff of scandal. He’s widely thought of as a man of sterling ethics, and yet he dove into Wall Street twice — first with Salomon Brothers and now with Goldman Sachs (GS) — and he’s managed to escape ever richer and with his reputation intact. When he called derivatives “financial weapons of mass destruction” in Berkshire Hathaway’s 2003 annual report, nobody cared that he not only traded them but lost money for Berkshire (BRK.A) in so doing. In the first quarter of 2008, Berkshire lost $1.7 billion thanks to his trading in WMDs. Some would call this hypocritical, or just plain dumb.
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