Sunday, March 07, 2004
Buffet bets against the dollar
Reminds me of how Soros made a large part of his pile. This is not good news.
Note that careful qualifer, "as an American." Argentina, here we come.
Berkshire held positions in five foreign currencies totaling $12 billion. Buffett said he began investing in foreign currency for the first time in 2002 as a result of the widening U.S. trade deficit.
"As an American, I hope there is a benign ending to this problem," Buffett wrote of the trade gap and weaker dollar. He said this could cause problems that reach "well beyond currency markets."
(via Reuters)
Note that careful qualifer, "as an American." Argentina, here we come.
