From Newsmax:

Berkshire Hathaway — led by Chairman Warren Buffett — recently restructured its option positions, taking an array of new positions that will pay off, dramatically, if the stock market grows over the next decade by 15 percent from its present level.

Buffett had been burned by options during the global meltdown that preceded last year's presidential election, after betting $37.1 billion on options tied to global stock prices.

Many of the put options were on the S&P 500. Subsequent, massive losses led Buffett to famously quip that derivatives were "weapons of mass destruction."

According to a report in today's New York Post...

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