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Capitalist against Bush: Warren Buffett. America's leading investor is less than bullish on what's happened to the dollar. He doesn't specify a personal target but he does specify the date of his realization that, for the first time in his life, the dollar is FUBB. Meanwhile, the disengaged president goes fundraising and planning trips to Mars as the dollar continues its sustained plunge against foreign currencies (Fortune, sub. req'd.):

Through the spring of 2002, I had lived nearly 72 years without purchasing a foreign currency. Since then Berkshire has made significant investments in—and today holds—several currencies. I won't give you particulars; in fact, it is largely irrelevant which currencies they are. What does matter is the underlying point: To hold other currencies is to believe that the dollar will decline.

Both as an American and as an investor, I actually hope these commitments prove to be a mistake. Any profits Berkshire might make from currency trading would pale against the losses the company and our shareholders, in other aspects of their lives, would incur from a plunging dollar.

But as head of Berkshire Hathaway, I am in charge of investing its money in ways that make sense. And my reason for finally putting my money where my mouth has been so long is that our trade deficit has greatly worsened, to the point that our country's "net worth," so to speak, is now being transferred abroad at an alarming rate.

"In fact, it is largely irrelevant which currencies they are" signals that right now any currency is better than the dollar in Buffett's view.

"Capitalists against Bush" is one of our cherished themes here in Skimbleland, as when we talked about Seth Glickenhaus.

Link via bloggy.

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