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Strategies & Market Trends : Natural Resource Stocks

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To: jimsioi who wrote (10785)	5/1/2004 7:29:49 PM
From: schzammm	of 108860

Buffett Says He Has Increased Bet Against U.S. Dollar (Update3) This might be all over the news on Monday also?? May 1 (Bloomberg) -- Billionaire investor Warren Buffett said he increased his bet against the U.S. dollar on concern that the country's trade deficit will weaken the currency. ``We think that over time that the dollar is likely to decline in value against some of the major currencies,'' said Buffett, 73, in an interview before Berkshire Hathaway Inc.'s annual shareholder meeting in Omaha, Nebraska. In the last few months, Berkshire has added ``more than a little bit'' to its foreign currency holdings, he said. They were last disclosed at $12 billion as of yearend. Foreign currencies represent Buffett's biggest purchase in the last two years. The Berkshire chairman has built a fortune buying undervalued assets and today sees little opportunity in stocks. He bought currencies as the dollar began a 25 percent slump over 24 months and the U.S. current-account deficit ballooned to a record quarterly average of $137.7 billion in the first nine months of 2003.

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