Sunday, May 4, 2008

Warren Buffett looks to Europe

"We are happy to invest in businesses that earn their money in the euro, or in companies that derive their earnings in Germany, or from the sterling in the UK, because I don't have a feeling that those currencies are going to depreciate in a big way against the dollar.

"I'm willing to bet the dollar will weaken against other currencies over the longer term, so I feel no need to hedge those currencies."

"oracle from Omaha" is not always right. In 2006 his dollar short bet let him down substantially, but he had the Federal reserve against him. Today looks different.

source: Warren Buffett bets his bottom dollar on European businesses
Edmund Conway, The Daily Telegraph

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