sparohook is right. the press focuses on the -955 but the entire trade was a pretty big win to my eyes anyway. also buffet's BRK report indicates that the euro position he unwound has effectively been replaced by non-dollar denominated holdings (overseas companies) so in effect he's really still holding the position. furthermore his core idea, namely that the only way the US will find to manage its debt is to print a bunch of money - doesn't seem to be all that wrong - again from my non-billionaire's perspective
Buffett isn't above "speculation", he does it actively for his personal accounts. In his biography "Buffett: Making of an American Capitalist" it talks about how he didn't have a lot of money while Berkshire was soaring because he refused to sell shares. So he took 50K and built it up to a few mill in a couple of years "investing" as well as trading commodities (which is deemed to be "speculative" in value terminology). I don't understand why people are so shocked by his move. It was the first time he put in a "speculative" position on the Berkshire portfolio but it isn't his first experience.
Welcome back Electric, were you on vacation or just taking a break from ET? You can't beat buffet.... *or can you?*
ask surdo, he is on the mission...I really don't care...I have everything I want. Look at Buffett, instead of paying taxes he uses the money more wisely and gives to the Gates fund...But he does not ignore efficiency and hedge his overseas exposure. Think about it.
Once you become an "Elite Moderator", what's left? Maybe a new "Woodie"! http://artworks.avalonweb.net/excellence/woodie.jpg
You motivate me to become better. Thanks Surdo, I really mean that...When all the dust settles, I will remember you as I beat my drum.(got to get one of those, saw one at World Market Cost Plus) Let the light of Luv' comes shinin' fru..(a Christy Lane commercial is playing) But Bill Gates has the large Market share in Europe, does he pay his antitrust fines in US dollars? (lol..just a minut percentage of his net worth and profits) If you were a CEO with a global portfolio why wouldn't you weight it with this short dollar exposure? Open up your minds. I am not going to list an exhaustive explanation of this...but the fact is there is the public view and the real view. When your allowed to get this much money, its about playing politics as much as strategy. Does Mr. Cohen post on ET before he does something...gawd lol..(oh yeah..Mr. Cohen has one doosey of a lawsuit pending) hey... did doosey have one O or two? stimulating conversation for stimulating ETer's.
As far as me being a moderator has nothing to do with my posts. I am just looking for spam to protect us from becoming EliteYahoo. If I miss anything please hit the complain button in the lower right hand corner and one of the moderators will take care of it. I think you guys should appreciate what you have here. There is no place like ET and you do not realize how much work goes into this forum. Thank you for reading and participating in this thread. That is why I posted it. Michael B.
LMAO The arrogance of it. To suggest that being a moderator means you can't call a wanker a wanker when they are simply being a wanker. Or in the case of dear old es, just have a little fun with someone. ES, its a tough life (and some take it far too seriously). Keep up the good work