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Not long ago - 3rd Qtr 2007 Warren thought the dollar was going to hell.
Oct 20 08:15 am
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All Comments by ddavid »Two World Views: Buffett vs. Lahde [View article]
He suggested NOT to use Forex to hedge against the dollar fall but instead to buy good Foreign Stocks. That way he protects himself against the dollar, with the benefit of dividends & stock value. I'm very surprised he did an about face to invest here so quick. His favorite norm of operation is to purchase convertible preferred which pay high negotiated dividends. Also, by now at 80 I doubt Warren keeps large dollar reserves in his name, those investments have already been transferred to his Foundation and in Berkshire. Foundations pay salaries with which I'm sure he lives comfortably.
But I hope he is right, our corporations will disappear, especially if more shenanigans by hedge funds torch more institutions as they torched Lehman.