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20%  
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  • Warren Buffett Warns of Financial 'Chaos'

    12/27/2004 11:32:08 AM PST · by tmp02 · 232 replies · 4,827+ views
    The Sage of Omaha has real worries about the U.S. dollar. It is no surprise that billionaire stock investor Warren Buffett continues to flee the U.S. dollar as he pours billions into foreign currencies. Last year Berkshire Hathaway, Buffett’s holding company, reported it had placed some $12 billion in foreign currencies. Now Forbes reports that Buffett continues to exit dollar investments, and Berkshire Hathaway holds some $20 billion in foreign currencies. Buffett has used foreign currencies as a hedge against his weakly performing U.S. portfolio. According to the New York Times, the firm reversed a second quarter loss and gained...