Somebody Is Willing to Bet That the Dollar Will Decline
From Reuters, via the Financial Times:
FT.com / Companies / US - Berkshire Hathaway loses currency bet: Warren Buffett's Berkshire Hathaway lost $310m in the first quarter from betting against the US dollar, but has nevertheless maintained its roughly $21bn stake against the greenback, the billionaire said on Saturday. At Berkshire's annual shareholder meeting, Mr Buffett said Berkshire expects... to announce an insurance acquisition worth less than $1bn, which is barely 2 per cent of the company's $44bn cash stake...
