1. How to use GuruFocus - Tutorials
  2. What Is in the GuruFocus Premium Membership?
  3. A DIY Guide on How to Invest Using Guru Strategies
10qk

Buffett, Gates Losses May Put Davos Focus on Dollar

January 23, 2006

``The ol' dollar, it's gonna go down,'' Bill Gates said at last year's World Economic Forum in Davos, Switzerland. He, George Soros and Warren Buffett each bet against the U.S. currency in 2005.

They lost.

Economists at Deutsche Bank AG say that's because forecasts for a lower dollar ignore China's emergence as an economic powerhouse. They and Harvard University economist Richard Cooper say the dollar's 2005 gain -- 15 percent against the yen and 14 percent against the euro -- vindicates their argument that a record U.S. current account deficit won't necessarily push the currency down. The theory suggests those predicting a dollar drop this year, including Merrill Lynch & Co. and UBS AG, may be at risk for further losses.

http://www.bloomberg.com/apps/news?pid=10000177&sid=aC2fdGtuvaF8


Rating: 5.0/5 (1 vote)

Comments

Please leave your comment:


More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.

User Generated Screeners


donkyfaceNew 2017
TFC$1P/FCF EV/EBIT
Bear03Low B/S w Fscore>=5, CurR 1.2
Bear03Fundamental w/Value
Bear03Book Growth/Moderate PE/Good S
CortlandPeter Lynch l
sarahgolliheroptions
pbarker46PEG
evseanLow Value Stock II
musselmantMODIFIED
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
FEEDBACK