Billionaire investor Warren Buffett and the biggest banks in the currency market, Deutsche Bank AG, UBS AG and Citigroup Inc., missed the dollar's rally in 2005. They're sticking with their predictions for 2006.
Buffett, the chairman and chief executive officer of Berkshire Hathaway Inc., lost almost $1 billion, betting on a decline in the dollar against currencies including the British pound, which suffered its biggest loss since 1992. Deutsche Bank, UBS and Citigroup analysts forecast the dollar would weaken to an all-time low of $1.40 per euro. Instead, it rose 14.5 percent.
http://www.bloomberg.com/apps/news?pid=10000103&sid=aP919kDODtY0
Buffett, the chairman and chief executive officer of Berkshire Hathaway Inc., lost almost $1 billion, betting on a decline in the dollar against currencies including the British pound, which suffered its biggest loss since 1992. Deutsche Bank, UBS and Citigroup analysts forecast the dollar would weaken to an all-time low of $1.40 per euro. Instead, it rose 14.5 percent.
http://www.bloomberg.com/apps/news?pid=10000103&sid=aP919kDODtY0
