"warren buffet" november "net worth" "at an alarming rate" currencies


Recently, in an interview for Fortune Magazine, Billionaire investment guru Warren Buffet predicted the dollar will continue to weaken and he has for the first time, in his seventy-two years, been buying foreign currencies. Mr Buffet, who in the 1990’s famously preferred investing in ‘bricks and mortar’ companies rather than the booming .coms said he was hedging against the dollar because he remained concerned about the size of the US trade deficit, a factor we have continually referred to. He said that the deficit had “greatly worsened to the point that our country’s net worth, so to speak, is now being transferred abroad at an alarming rate.

In the November issue of Fortune, Berkshire Hathaway chief executive Warren E. Buffett confessed that he had bet against the dollar for the first time in his life by purchasing foreign currencies.

"Our country's `net worth,' so to speak, is now being transferred abroad at an alarming rate," he wrote.