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To: conservativecorner
The article does mention his profits by shorting the dollar for the last several years, but it also makes clear that he's being arse whipped at this point.

The article does mention that "starting in 2002, Mr. Buffett entered the foreign exchange markets and shorted the dollar". But it does not mention his profits over the last several years. Its only mention of profits is the following:

While his short position was profitable in 2004, he has lost more than half a billion dollars so far in 2005.

Later on it states:

Buffett's anti-American investment sentiment has cost Berkshire Hathaway shareholders dearly.

One would never guess from this story that Buffett is AHEAD by over $2 billion. I wish that all of my investments cost me so dearly!

The article also explains why he made money early on, and why he's taking a beating now. Here's hoping the "betting against America jackass" loses his shirt by continuing to short the dollar.

I assume that you hope the same for everyone who "bets against America" by buying foreign stocks. They are likewise diversifying their portfolios and hedging their exposure to the dollar.

25 posted on 01/20/2006 12:52:52 AM PST by remember
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To: remember
Firstly, he's not ahead 2 billion dollars. You have to subtract his losses against his winnings. The news this morning that Iran will pull it's money out of Europe should be great news for the Euro. [End Sarcasm} Secondly, he's not your average investor. The man used to move mountains with his words, but I'm not sure that people think he's being completely objective when he talks about our trade deficit, etc. etc., so I'm not slamming the average investor who hedges his bet in a portfolio.

Here's some info on the Euro vs. the Dollar. At this rate he's getting his arse kicked, if $1.22 is the break even point.

28 posted on 01/20/2006 5:55:28 AM PST by conservativecorner
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To: remember

He should of covered his bet last spring. Pigs get fat, and hogs get slaughtered!

29 posted on 01/20/2006 6:01:24 AM PST by conservativecorner
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