Buffettology 101
Warren Buffett is a well know investor from the USA. This guy ranks number two just behind Bill Gates as the richest person in the world. It is estimated that Buffett’s worth is about $40 billion and he made much of his wealth from investments. Warren Buffett is a investing guru who has made his mark by buying things not really in the spot light until he buys. In 1997 Buffett decided to invest in silver and when he did this he bought 129 million ounces of silver at $6 per ounce. After this investors were all over the silver driving up the price to where it is today at about $14 per ounce and many analyst expect this to double. Warren Buffett influences markets and he is trying to make his mark against the USD.
In 2002 Buffett put $11 billion against the dollar and it was mentioned he had a profit of $600 million in 2004, but that never lasted as dollar grew stronger in 2005 and he took a hit.
Now he is really worried about the weak dollar as he is on a buying spree for companies outside the USA with a strong currency and he has started in Israel. Buffett has purchased toolmaker Iscar Metalworks for $4 billion. This is just a start of his buying spree and he is letting investors know that the one way to win against the weak dollar is to invest in companies with a strong currency that is performing good. I imagine Buffett will be going to Asia trying to find other companies to buy as the currencies in Asia has strengthened against the dollar.
Warren Buffett will influence the markets and it will be a good thing to what this guy does because just as soon as he does anything millions follow his lead. Stay in step with him and you may be able to protect yourself or perhaps gain in your investments.
