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It's unfair to point out that Buffett made a bad trade that lost a billion dollars? Regardless of his status as the foremost investor of probably _all time_, he
by dreyfiz 17y ago
It's unfair to point out that Buffett made a bad trade that lost a billion dollars? Regardless of his status as the foremost investor of probably _all time_, he was empirically wrong on this one, and the article was about him talking down the dollar, so it's not unfair to point out that he lost a billion dollars putting his money where his mouth was.
- xiaoma 17y agoIt's unfair to leap on a single mistake and say it was the postscript of his essay. He also bought Petro China as part of his strategy to deal with a weakening dollar around the same time and by when he was selling it 2007, it had earned several billion. It is also worth pointing out that the essay dealt with China specifically, and that the RMB has appreciated against the dollar in the time since (and will more as the government relaxes its peg).