本文发表在 rolia.net 枫下论坛TORONTO (Dow Jones)--Billionaire Warren Buffett said Wednesday that the U.S. dollar will be "worth less" if the country keeps sending more money abroad than it brings in.
"If our current account deficit keeps running at present levels, the dollar I think is almost certain to be worth less five to ten years from now compared to other major currencies," the Berkshire Hathaway Inc. (BRKA, BRKB) chief executive said, speaking at the opening of Business Wire Canada.
He wouldn't say whether he's still betting against the U.S. currency.
He did say Berkshire Hathaway would continue to build its position in the bond insurance business if rates are good. Berkshire set up such a business in New York recently at the urging of the state's top insurance regulator.
Industry leaders like MBIA Inc. /quotes/comstock/13*!mbi/quotes/nls/mbi (MBI 6.83, +0.02, +0.29%) and Ambac Financial Group Inc. /quotes/comstock/13*!abk/quotes/nls/abk (ABK 1.65, +0.04, +2.55%) face downgrades of their bond insurer ratings, as losses mount on complicated securities they have guaranteed. The New York regulator is working with banks to put together a package for stabilizing Ambac, though its outlook is uncertain.
"I don't know that there's going to be a bailout, and I don't know that there should be," Buffett said.
Buffett said the Berkshire Hathaway board has three people in mind to replace him as chief executive and four who could take over his role as chief investment officer.
Regarding the replacement for President Bush, Buffett said he would support a Democrat, either Barack Obama or Hillary Clinton. "I'm sort of a political bigamist," he said.
-By Evelyn Juan, Dow Jones Newswires; 416-306-2025; evelyn.juan@dowjones.com
Corrected Feb.7, 2009 08:32 ET (13:32 GMT)
(END) Dow Jones Newswires
February 06, 2008 18:23 ET (23:23 GMT)
Billionaire Warren Buffett said Wednesday that the U.S. dollar will be "worth less" if the country keeps sending more money abroad than it brings in.
"If our current account deficit keeps running at present levels, the dollar I think is almost certain to be worth less five to ten years from now compared to other major currencies," the Berkshire Hathaway Inc. (BRKA, BRKB) chief executive said, speaking at the opening of Business Wire Canada.
(The headline and first and second paragraphs of the item "Buffett: Dollar 'Worthless' If Acct Deficit Persists," published at 6:08 p.m. EST Wednesday, misquoted Buffett's comments on the dollar. He said the U.S. currency would be "worth less," not "worthless." The error was repeated in the headlines and text of an update at 6:23 p.m. and a republished version of the story at 7:31 a.m. Thursday.)
(END) Dow Jones Newswires
February 07, 2008 08:25 ET (13:25 GMT)
-Contact: 201-938-5400更多精彩文章及讨论,请光临枫下论坛 rolia.net
"If our current account deficit keeps running at present levels, the dollar I think is almost certain to be worth less five to ten years from now compared to other major currencies," the Berkshire Hathaway Inc. (BRKA, BRKB) chief executive said, speaking at the opening of Business Wire Canada.
He wouldn't say whether he's still betting against the U.S. currency.
He did say Berkshire Hathaway would continue to build its position in the bond insurance business if rates are good. Berkshire set up such a business in New York recently at the urging of the state's top insurance regulator.
Industry leaders like MBIA Inc. /quotes/comstock/13*!mbi/quotes/nls/mbi (MBI 6.83, +0.02, +0.29%) and Ambac Financial Group Inc. /quotes/comstock/13*!abk/quotes/nls/abk (ABK 1.65, +0.04, +2.55%) face downgrades of their bond insurer ratings, as losses mount on complicated securities they have guaranteed. The New York regulator is working with banks to put together a package for stabilizing Ambac, though its outlook is uncertain.
"I don't know that there's going to be a bailout, and I don't know that there should be," Buffett said.
Buffett said the Berkshire Hathaway board has three people in mind to replace him as chief executive and four who could take over his role as chief investment officer.
Regarding the replacement for President Bush, Buffett said he would support a Democrat, either Barack Obama or Hillary Clinton. "I'm sort of a political bigamist," he said.
-By Evelyn Juan, Dow Jones Newswires; 416-306-2025; evelyn.juan@dowjones.com
Corrected Feb.7, 2009 08:32 ET (13:32 GMT)
(END) Dow Jones Newswires
February 06, 2008 18:23 ET (23:23 GMT)
Billionaire Warren Buffett said Wednesday that the U.S. dollar will be "worth less" if the country keeps sending more money abroad than it brings in.
"If our current account deficit keeps running at present levels, the dollar I think is almost certain to be worth less five to ten years from now compared to other major currencies," the Berkshire Hathaway Inc. (BRKA, BRKB) chief executive said, speaking at the opening of Business Wire Canada.
(The headline and first and second paragraphs of the item "Buffett: Dollar 'Worthless' If Acct Deficit Persists," published at 6:08 p.m. EST Wednesday, misquoted Buffett's comments on the dollar. He said the U.S. currency would be "worth less," not "worthless." The error was repeated in the headlines and text of an update at 6:23 p.m. and a republished version of the story at 7:31 a.m. Thursday.)
(END) Dow Jones Newswires
February 07, 2008 08:25 ET (13:25 GMT)
-Contact: 201-938-5400更多精彩文章及讨论,请光临枫下论坛 rolia.net