Tuesday, August 09, 2005

¿A bet?

Inside Buffet's Buck Bet
Warren Buffett's first half $926 million loss from betting against the dollar is among the most misunderstood gambits the billionaire has ever taken, according to one Buffett-watcher.

James Altucher, a hedge fund manager and author of "Trade Like Warren Buffett," argues that many have misinterpreted the true meaning of the position.

"Buffett has the bet on because he is long billions in dollar-denominated assets," said Altucher.