Bad timing, Mr Buffet
By Yaser Anwar, CSC of Equity Investment Ideas
Yesterday i reported about Bill Miller having troubles, today it's Warren Buffet's time
Billionaire investor Warren Buffett, stung by $955 million in losses from foreign-currency investments in 2005, slashed his bet against the U.S. dollar this year, just before its steepest decline in 18 months.
Berkshire Hathaway Inc., his Omaha, Nebraska-based insurance and investment firm, had $5.4 billion in foreign currency forward contracts at the end of March, down from as much as $21.8 billion in 2005, according to the company's earnings statements.
The U.S. Dollar Index, used to measure its value against six major currencies, fell 5.1 percent in the second quarter.
Don't pity Warren though. He still managed to beat the S&P last year & i'm sure he will again. Sooner or later, Demise of the Dollar is inevitable. Thinking of that, i have a post coming on that, stay tuned.
http://www.equityinvestmentideas.blogspot.com/
Yesterday i reported about Bill Miller having troubles, today it's Warren Buffet's time
Billionaire investor Warren Buffett, stung by $955 million in losses from foreign-currency investments in 2005, slashed his bet against the U.S. dollar this year, just before its steepest decline in 18 months.
Berkshire Hathaway Inc., his Omaha, Nebraska-based insurance and investment firm, had $5.4 billion in foreign currency forward contracts at the end of March, down from as much as $21.8 billion in 2005, according to the company's earnings statements.
The U.S. Dollar Index, used to measure its value against six major currencies, fell 5.1 percent in the second quarter.
Don't pity Warren though. He still managed to beat the S&P last year & i'm sure he will again. Sooner or later, Demise of the Dollar is inevitable. Thinking of that, i have a post coming on that, stay tuned.
http://www.equityinvestmentideas.blogspot.com/
posted by douglas mcintyre at 5:01 AM
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