BUFFET loses $900 million on USD | Forex Factory

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BUFFET loses $900 million on USD

  • #1
  • First Post: Nov 7, 2005 4:57am Nov 7, 2005 4:57am
Had a few losing trades ? Dont be too hard on yourself, even the big guys get it wrong.

Dont worry Warren, you know how to make it back.
  • #2
  • Edited 5:04am Nov 7, 2005 5:03am | Edited 5:04am
Don't worry about Warren.

He was operating at 0.005% risk per trade.
  • #3
  • Nov 7, 2005 5:51am Nov 7, 2005 5:51am
I wonder why would anyone with even 1/100th of his capital keep on spending his life trading/working instead of enjoying a well deserved retirement, specially someone of his age. I just can't get it why people extremly wealthy already keep on waking up every morning at 7 am and work their asses off to amount an even larger capital.


Whatever, it's their lives.
  • #4
  • Nov 7, 2005 6:01am Nov 7, 2005 6:01am
Quoting WTB
I wonder why would anyone with even 1/100th of his capital keep on spending his life trading/working instead of enjoying a well deserved retirement, specially someone of his age. I just can't get it why people extremly wealthy already keep on waking up every morning at 7 am and work their asses off to amount an even larger capital.


Whatever, it's their lives.
I think that's the correct way of living and that's also the correct way to remain wealthy. In this life, even the wealthiest person can get broke and even in debt in a very short time if he/she stops working to keep his/her wealth.

Man, life is about work and not about retirement.

Thanks,

Nader
  • #5
  • Edited Nov 8, 2005 2:28am Nov 7, 2005 6:04am | Edited Nov 8, 2005 2:28am
Quoting WTB
I wonder why would anyone with even 1/100th of his capital keep on spending his life trading/working instead of enjoying a well deserved retirement, specially someone of his age. I just can't get it why people extremly wealthy already keep on waking up every morning at 7 am and work their asses off to amount an even larger capital.


Whatever, it's their lives.

i think he is sitting back enjoying life......he got fund mangers to manage his wealth......

okl
  • #6
  • Nov 7, 2005 7:41am Nov 7, 2005 7:41am
[quote=okl]i think he is sitting back enjoying life......he got fund mangers to manage his wealth......

Actually, I think the short dollar position is held by Berkshire Hathaway, the public company that Buffet is CEO of, and not Warrens own personal account.

JohnFX
  • #7
  • Nov 7, 2005 10:17am Nov 7, 2005 10:17am
If you suddenly received enough money to live the way you wish for the rest of your life,

Would you stop trading?

LOU
  • #8
  • Nov 7, 2005 11:33am Nov 7, 2005 11:33am
Quoting Lou
If you suddenly received enough money to live the way you wish for the rest of your life,

Would you stop trading?

LOU
No, I would still trade. It is something I love to do.
  • #9
  • Nov 7, 2005 11:41am Nov 7, 2005 11:41am
Hello OKI

Nice that you post something here.
Would you not consider starting a thread here parallel to those you have else where ?
There are a lot of people who are new in FX here. Would be nice to get some insight from you.

Regards
  • #10
  • Nov 7, 2005 12:14pm Nov 7, 2005 12:14pm
Hence, me and Merlin have won and who was long in USD.
kiss the trend
  • #11
  • Nov 7, 2005 3:23pm Nov 7, 2005 3:23pm
Quoting Lou
If you suddenly received enough money to live the way you wish for the rest of your life,

Would you stop trading?

LOU
i think i would stop trading for about year...see the world, get bored with that, and get back to trading. I love to trade....
  • #12
  • Nov 7, 2005 3:28pm Nov 7, 2005 3:28pm
Warren is in it for the long term. He shorted the US dollar strictly because he thinks US's economic structure is in trouble...the trade deficit, the federal deficit, lack of consumer savings, etc. Basically America is in debt and continues to borrow and Mr. Buffett and Co. feels this will hurt the dollar in the long run. Knowing his style, he is adding to his short positions. He's probably giddy that he's able to short at such a good price.
"Do or do not. There is no try" ~Yoda
  • #13
  • Nov 7, 2005 5:33pm Nov 7, 2005 5:33pm
Quoting narafa
I think that's the correct way of living and that's also the correct way to remain wealthy. In this life, even the wealthiest person can get broke and even in debt in a very short time if he/she stops working to keep his/her wealth.

Man, life is about work and not about retirement.

Thanks,

Nader
Nader, most of Earth population hate their jobs. There are very many who would like to get a job they could hate. But they continue to do jobs they hate to be able to make other people do what they don't want to do. They don't have alternative. They can't go to forest and hunt a deer, or fish salmon and live of it. There are just too many people and too few deers. So they have to continue to live in small boxes, breath polluted air and drink poisonous water, and spend 50-100 hours per week between commuting and working, in order to pay taxes/rent and eat plastic food full of hormones and pesticides.
There are lucky guys who love their jobs- scientists, artists, traders , but they are not so many. In my opinion, Warren Buffet is a sick guy. He could live as a cheapass in Omaha with way less money than he has. But , in society where a person with 2 billion dollars is more respectful than a person with 1,5 billions, thats probably normal.
  • #14
  • Nov 7, 2005 7:26pm Nov 7, 2005 7:26pm
Quoting Pip Daddy
Warren is in it for the long term. He shorted the US dollar strictly because he thinks US's economic structure is in trouble...the trade deficit, the federal deficit, lack of consumer savings, etc. Basically America is in debt and continues to borrow and Mr. Buffett and Co. feels this will hurt the dollar in the long run. Knowing his style, he is adding to his short positions. He's probably giddy that he's able to short at such a good price.
Add to an obvious bad losing trade? I doubt it. That's something amatures do and a no, no, for professional sucessfull traders. I am sure Buffet wishes he never played against the dollar. Will be a very long time if ever, that the eurusd sees 1.30 IMO. Almighty US dollar flexing it's muscles.


JohnFX
  • #15
  • Nov 7, 2005 8:04pm Nov 7, 2005 8:04pm
Quoting Vlad
Nader, most of Earth population hate their jobs. There are very many who would like to get a job they could hate. But they continue to do jobs they hate to be able to make other people do what they don't want to do. They don't have alternative. They can't go to forest and hunt a deer, or fish salmon and live of it. There are just too many people and too few deers. So they have to continue to live in small boxes, breath polluted air and drink poisonous water, and spend 50-100 hours per week between commuting and working, in order to pay taxes/rent and eat plastic food full of hormones and pesticides.
There are lucky guys who love their jobs- scientists, artists, traders , but they are not so many. In my opinion, Warren Buffet is a sick guy. He could live as a cheapass in Omaha with way less money than he has. But , in society where a person with 2 billion dollars is more respectful than a person with 1,5 billions, thats probably normal.

Vlad, by cheapass do you mean to say greedy? Seems a little input from Mr. Gecko is needed:

"Greed is Good
http://www.whitman.edu/republicans/1x1.gif
The point is, ladies and gentlemen, is that greed--for lack of a better word--is good. Greed is right. Greed works. Greed clarifies, cuts through and captures the essence of the evolutionary spirit. Greed, in all of its forms--greed for life, for money, for love, knowledge--has marked the upward surge of mankind. And Greed--you mark my works--will not only save [this company] but that other malfunctioning corporation called the USA.
Thank you very much.
--Gordon Gekko (Michael Douglas) Wall Street 1987"


Sorry, love that movie! Come on, your a member of a trading forum and you think greed is bad?? I don't know about Mr. Buffett but when I become financially independent I plan to give as good as I get, so if I was worth X billion dollars I'd be giving pretty good I would never knock anybody for wanting to make more money since the alternatives start to look like pretty ugly, e.g Socialism and god forbid, the big C. This is America baby, if those fumes and junk food are too much then work your ass off and become the president of the company that owns the trucks that deliver the junk food and then buy a mansion on the lake and eat fresh fish all day, think I'm kidding?


Sam


  • #16
  • Nov 8, 2005 12:24am Nov 8, 2005 12:24am
Quoting Vlad
In my opinion, Warren Buffet is a sick guy. He could live as a cheapass in Omaha with way less money than he has. But , in society where a person with 2 billion dollars is more respectful than a person with 1,5 billions, thats probably normal.
Warren Buffet does live like a cheapskate! He lives in the same house he's lived for the past 30 years! He drives an old truck and drinks diet Cokes. If you also didn't know, he plans to give like 95% of his net worth to charity. He has a famous quote regarding giving inheritance to his kids, ""I want to give my kids enough so that they could feel that they could do anything, but not so much that they could do nothing."

Don't hate the rich. Become one.
"Do or do not. There is no try" ~Yoda
  • #17
  • Nov 8, 2005 12:28am Nov 8, 2005 12:28am
Greed is greed, cheapness is cheapness. There are sound borders to everything. Including moneymaking. If you had a billion dollars, would u spend a year on a regular conveyer type job to get another billion? Would u sell your kidney for 2 billion dollars? One of Rockfellers couldn't eat or drink anything but milk, would you like to be in his place? Warren Buffet is ... 65? You are ...20-30? Would u like to get his billions along with his age?
  • #18
  • Nov 8, 2005 12:31am Nov 8, 2005 12:31am
Quoting JohnFX
Add to an obvious bad losing trade? I doubt it. That's something amatures do and a no, no, for professional sucessfull traders. I am sure Buffet wishes he never played against the dollar. Will be a very long time if ever, that the eurusd sees 1.30 IMO. Almighty US dollar flexing it's muscles.


JohnFX
A bad losing trade? That depends on two things:

1. Your perspective
2. Your timeframe

It's not a losing trade if you plan on holding for 20 years and when Saudi Arabia and China practically own United States because we owe them 9,999,999,999,999 dollars that we can't repay. On the other hand, I guess the US can simply run a military campaign and conquer countries if we can't pay them back.
"Do or do not. There is no try" ~Yoda
  • #19
  • Nov 8, 2005 12:44am Nov 8, 2005 12:44am
Quoting Pip Daddy
he plans to give like 95% of his net worth to charity.
That's the sickest part.
And I do not hate the rich! I just conserned why can't I put a log cabin on the lake and eat fresh fish every day without becoming a president of the company.
Overpopulation is to blame. But without it WB will not have his billions.
  • #20
  • Nov 8, 2005 12:52am Nov 8, 2005 12:52am
Quoting Pip Daddy
A bad losing trade? That depends on two things:

1. Your perspective
2. Your timeframe

It's not a losing trade if you plan on holding for 20 years and when Saudi Arabia and China practically own United States because we owe them 9,999,999,999,999 dollars that we can't repay. On the other hand, I guess the US can simply run a military campaign and conquer countries if we can't pay them back.
That's exactly what I thought before reading the second sentence. Finally, if someone owes you a 1000 bucks, its his problem, if someone owes you a 1000 000 bucks, its your problem. And if someone who owes you a 1000 000 bucks has a gun you don't have, well than
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