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Mix-Ansicht- Heute pilgert alles gen Omaha - Buffet hält Hof - kingsolomon, 01.05.2004, 22:13
- und sieht Inflation aufkommen - off-shore-trader, 01.05.2004, 22:32
Heute pilgert alles gen Omaha - Buffet hält Hof
-->Im Vorfeld gab der Meister bekannt, dass er seine Wette gegen King Dollar
in den letzten Monaten erhöht hat.
Buffett Says He Has Increased Bet Against U.S. Dollar (Update1)
May 1 (Bloomberg) -- Billionaire investor Warren Buffett said he has increased his bet against the U.S. dollar in the past several months on concern that the U.S. trade deficit will weaken the currency over time.
''We think that over time that the dollar is likely to decline in value against some of the major currencies,'' said Buffett in an interview before the Berkshire Hathaway Inc. annual shareholder meeting in Omaha, Nebraska. ''We've added a little bit, more than a little bit'' in the last few months to Berkshire's foreign currency position, he said.
In March, Buffett, 73, said he had invested $12 billion in currencies as of the end of 2003 seeing few bargains in stocks and bonds. Berkshire's chairman, who built his fortune buying undervalued assets, first disclosed the stake after the dollar slumped about 25 percent over two years as the country's current- account deficit ballooned to a record quarterly average of $137.7 billion in the first nine months of 2003.
The foreign exchange purchases, made in five different currencies, represented Buffett's biggest investment in the last two years. Buffett said in March that he started betting against the dollar in 2002 on concern that the U.S. trade deficit would erode the value of the country's currency.
Buffett, the world's second-wealthiest man, also said today that the U.S. Federal Reserve may be keeping interest rates too low as the economy expands and inflation picks up.
Fed Too Slow?
''They've perhaps been a little slow in terms of moving up because the economy has heated up considerably,'' he said.
During the last four decades Buffett transformed Berkshire from a failing textile manufacturer into a $143 billion holding company by buying out-of-favor securities and businesses on the cheap.
Berkshire expects more than 10,000 people to gather in Omaha this weekend for cocktail parties, barbecues and a six-hour question-and-answer session where Buffett dispenses wisdom and investment advice.
Shares of Berkshire, which owns energy, aviation, paint and carpet companies, have increased 28 percent in the past year compared with a 19 percent gain for the Standard & Poor's 500 Index. The shares fell $110 to $93,390 in New York Stock Exchange composite trading on Friday.
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