Thursday, January 15, 2004
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 Capitalist against Bush: Warren Buffett. . Meanwhile, the disengaged president goes fundraising and planning trips to Mars as the dollar continues its sustained plunge against foreign currencies ( FUBB , sub. req'd.): Fortune "In fact, it is largely irrelevant which currencies they are" signals that right now 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. 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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Alternatives to First Command Financial Planning
First Command, last resort, Part 3
Stealing $50K from a widow: Wells Real Estate
Leo Wells, REITs and divine wealth
Sex-crazed Red State teenagers
What I hate: a manifesto
Spawn of Darleen Druyun
All-American high school sex party
Why is Ken Lay smiling?
Poppy's Enron birthday party
The Saudi money laundry and the president's uncle
The sentence of Enron's John Forney
The holiness of Neil Bush's marriage
The Silence of Cheney: a poem
South Park Christians
Capitalist against Bush: Warren Buffett
Fastow childen vs. Enron children
Give your prescription money to your old boss
Neil Bush, hard-working matchmaker
Republicans against fetuses and pregnant women
Emboldened Ken Lay
Please die for me so I can skip your funeral
A brief illustrated history of the Republican Party
Soldiers become accountants
Beware the Merrill Lynch mob
Darleen Druyun's $5.7 billion surprise
First responder funding
Hoovering the country
First Command fifty percent load
Ken Lay and the Atkins diet
Leave no CEO behind
August in Crawford
Profitable slave labor at Halliburton
Tom Hanks + Mujahideen
Sharon & Neilsie Bush
One weekend a month, or eternity
Is the US pumping Iraqi oil to Kuwait?
Seth Glickenhaus: Capitalist against Bush
Martha's blow job
Mark Belnick: Tyco Catholic nut
Cheney's deferred Halliburton compensation
Jeb sucks sugar cane
Poindexter & LifeLog
American Family Association panic
Riley Bechtel and the crony economy
The Book of Sharon (Bush)
The Art of Enron
Waiting in Kuwait: Jay Garner
What's an Army private worth?
Barbara Bodine, Queen of Baghdad
Sneaky bastards at Halliburton
Golf course and barbecue military strategy
Enron at large
Cracker Chic 2
No business like war business
Martha Stewart vs. Thomas White
Roger Kimball, disappointed Republican poetry fan
Cheney, Lay, Afghanistan
Terry Lynn Barton, crimes of burning
Feasting at the Cheney trough
Who would Jesus indict?
Return of the Carlyle Group
Duct tape is for little people
GOP and bad medicine
Sears Tower vs Mt Rushmore
Crooked playing field
John O'Neill: The man who knew
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