Borderless Buffett II
May 7th, 2006 • Related • Filed Under
Bloomberg reports:
Buffett, Berkshire’s chairman and chief executive officer, told investors at the company’s annual meeting in Omaha, Nebraska, that the $4 billion purchase of most of Israel-based toolmaker Iscar Metalworking Cos. represents another way of “mitigating” a fall in the dollar…
… “Buffett’s saying, `There’s no point in playing a weaker- dollar strategy in the currency market, I’d rather do it from longer-term foreign direct investments,”’ said Samarjit Shankar, director of global strategy for the foreign exchange group at Mellon Financial Corp. in Boston.
Do people really go all the way to Omaha to learn stuff like this?
