Buffett’s Son Calls Junk Bonds Model for Charities

Howard Buffett, who runs a foundation with money from his billionaire father Warren Buffett, said high-yield debt is an inspiration for the right approach to philanthropy.

Promoting economic development in an area of conflict in the Democratic Republic of Congo “is a risky investment, but if that pays off, I would say it’s a little bit like we’re willing to go with junk bonds rather than AAA stocks because the payoff is big.” Howard Buffett, 58, told Bloomberg Television’s Betty Liu in an interview airing today. “We’re betting, we won’t just help people eat better, we will transform their lives.”