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Politics : Formerly About Advanced Micro Devices

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To: AK2004 who wrote (278221)	3/4/2006 10:44:53 AM
From: paret	Read Replies (3) of 1576181

Not a good idea to bet against the ole US of A. _______________________________________________________________ WARREN BUFFETTED FOR $1.8B IN '05 By PAUL THARP NY POST nypost.com March 4, 2006 -- Warren Buffett, the second-richest man in America, is $1.8 billion poorer this year due to bad bets - also losing billions for his loyal following. The 75 year-old "Oracle of Omaha," considered by some as the world's greatest investor, has suffered an embarrassing 2.36 percent loss in returns on his huge Berkshire Hathaway empire in the past year. The pricey shares skidded from their peak last December of $91,200 apiece to $87,490 yesterday. That represents a drop of nearly $4.7 billion in just three months for his shareholders. Berkshire Hathaway - built largely on insurance businesses and blue chip stocks - got hurt from insurance losses and bad bets on the dollar. Berkshire also lost about $926 million in the first half of last year betting that the dollar would drop, but it rose 10 percent against other currencies. Buffett's eagerly awaited letter to shareholders, due to be released today in Omaha, is expected to explain what happened and offer solace and direction for the coming year.

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