BUFFET Loses, It gets even better... | Forex Factory

Options

Permalinks
Print Thread

Similar Threads

Warren Buffet Not a Fan of the Charts - Agree or Disagree? 23 replies

Buffet Weekly System 26 replies

Warren Buffet said.... 2 replies

BUFFET loses $900 million on USD 47 replies

Attachments: BUFFET Loses, It gets even better...
Exit Attachments

BUFFET Loses, It gets even better...

  • #1
  • First Post: Nov 8, 2005 6:11am Nov 8, 2005 6:11am

"I’m short the dollar," Bill Gates, the world’s richest man said this weekend from his lofty perch as the guiding light of Davos, "The old dollar, it's going to go down."

So why are you so sure about that Bill? Well, it’s the deficits, of course. And plus, I have a real good friend. His name is Warren.

Taken from

Currency Currents 31 January 2005


  • #2
  • Nov 8, 2005 6:58am Nov 8, 2005 6:58am
Quoting boycie
from Currency Currents 31 January 2005
Ouch, he's lost a hell lot of cash is he is short on US$ from Jan'05
  • #3
  • Nov 8, 2005 7:52am Nov 8, 2005 7:52am
Your not laughing anymore
Attached Image
  • #4
  • Nov 8, 2005 11:22am Nov 8, 2005 11:22am
I wonder how many people start selling the dollar with all this publicity?

I wonder...mebbe he's long the dollar.
  • #5
  • Nov 8, 2005 6:03pm Nov 8, 2005 6:03pm
Quoting boycie

"I’m short the dollar," Bill Gates, the world’s richest man said this weekend from his lofty perch as the guiding light of Davos, "The old dollar, it's going to go down."


So why are you so sure about that Bill? Well, it’s the deficits, of course. And plus, I have a real good friend. His name is Warren.

Taken from

Currency Currents 31 January 2005




BTW just an FYI for those of you who buy that Bill is the richest man in the world. Not a chance. He IS the richest taxpayer. There is a big difference. There are richer, much richer, men than Bill. The richest man known in really big money circles is a guy named George who lives in Germany and whose chateau has a nice view of the Swiss alps. Five years ago when I last heard his wealth was closing in on 400 billion. I personally spent time with a man who is the finance ambassador for a number of nations and who knows George personally. Him and his research team who studies wealthy people were permitted to spend several weeks at his chateau where he runs his worldwide affairs and document how he does what he does. When Bill is referred to as the richest man in the world it frequently conjures a certain mirth to those jokingly correct such statements to qualify Bill as the richest "taxpayer" in the world. Bill is understood to be a bit too much a "product of the system" in the circles of the hyper-wealthy. To them he still thinks inside the box.

FT
  • #6
  • Nov 8, 2005 6:11pm Nov 8, 2005 6:11pm
I agree with you FT. I always never believed that the forbes list is realistic. I am sure there are many others who are richer than those people, but those are the ones in the focus, that's why everyone know them and consider them as rich because their wealth is calculated and everything related to their business is documented. I am sure there are many others who are richer but the numbers are hidden or un-documented so no one know how much they have.

Another small tip, Warren and Bill are short the USD, fine. But this doesn't mean that they are correct or must be correct. That's 1 thing. Another thing is that they are short the USD for the long haul, which means that they might be short the USD for the next couple of years. They might turn out right, but after 3 years from now, and when this moment comes, forums will be full of threads saying that Warren and Bill anticipated the USD slump 4 years earlier.

Thanks,

Nader
  • #7
  • Nov 8, 2005 6:32pm Nov 8, 2005 6:32pm
Quoting narafa
I agree with you FT. I always never believed that the forbes list is realistic. I am sure there are many others who are richer than those people, but those are the ones in the focus, that's why everyone know them and consider them as rich because their wealth is calculated and everything related to their business is documented. I am sure there are many others who are richer but the numbers are hidden or un-documented so no one know how much they have.

Another small tip, Warren and Bill are short the USD, fine. But this doesn't mean that they are correct or must be correct. That's 1 thing. Another thing is that they are short the USD for the long haul, which means that they might be short the USD for the next couple of years. They might turn out right, but after 3 years from now, and when this moment comes, forums will be full of threads saying that Warren and Bill anticipated the USD slump 4 years earlier.

Thanks,

Nader
Fundamental trading is a different game. It has been suggested that Buffet was not hedged on this move but I've not seen proof. To think that one single position somehow defines his trading does not make any sense to me.

Traders and investors who trade or invest out of greed tend to look at people who have become very wealthy as being motivated like they are. That is why they cannot comprehend why someone so rich would continue trading. They are not trading because they love it but to get rich. That is why they would stop when they got to a certain point. They have not found a way to make money doing what they love and would therefore quit when they made money at it. When you are doing what you love to do it is not about the money. If you get rich at it -- why would you want to quit when it is not for the money that you do it?

FT
  • #8
  • Nov 9, 2005 12:48pm Nov 9, 2005 12:48pm
Quoting fijitrader
The richest man known in really big money circles is a guy named George who lives in Germany and whose chateau has a nice view of the Swiss alps. Five years ago when I last heard his wealth was closing in on 400 billion. I personally spent time with a man who is the finance ambassador for a number of nations and who knows George personally. Him and his research team who studies wealthy people were permitted to spend several weeks at his chateau where he runs his worldwide affairs and document how he does what he does.
Fijitrader,

Do you know if this study was every released? Are there any resources for finding out more about people like George?
  • #9
  • Nov 9, 2005 5:32pm Nov 9, 2005 5:32pm
Quoting fijitrader
Fundamental trading is a different game. It has been suggested that Buffet was not hedged on this move but I've not seen proof. To think that one single position somehow defines his trading does not make any sense to me.

Traders and investors who trade or invest out of greed tend to look at people who have become very wealthy as being motivated like they are. That is why they cannot comprehend why someone so rich would continue trading. They are not trading because they love it but to get rich. That is why they would stop when they got to a certain point. They have not found a way to make money doing what they love and would therefore quit when they made money at it. When you are doing what you love to do it is not about the money. If you get rich at it -- why would you want to quit when it is not for the money that you do it?

FT
i agree that you should love what you do. but i would not be trading if not for the earnings potential. sure, i love trading. but if i had the skills to make millions being a race car driver, i would say goodbye to trading in a heartbeat obviously i dont love trading as much as buffet, because as soon as i have 50 million liquid im outta this game.
Relax and be happy.
  • #10
  • Nov 9, 2005 6:08pm Nov 9, 2005 6:08pm
Quoting merlin
i agree that you should love what you do. but i would not be trading if not for the earnings potential. sure, i love trading. but if i had the skills to make millions being a race car driver, i would say goodbye to trading in a heartbeat obviously i dont love trading as much as buffet, because as soon as i have 50 million liquid im outta this game.
It is quite possible that Buffet himself said the same thing earlier on in his life. Things change and so do your reasons for doing them.

If you enjoy racing as much as you say then, like most millionaire race drivers (much rarer than millionaire traders), you'd probably have raced instead and acquired the skills like any other racer. What we think we want and what we really want are not always the same. what we really want is usually seen by what we do. What we think we want is usually found in the things we dream about doing but are not doing.

Anyway it will be interesting to see if, when you reach your 50m, you then stop trading.

FT
  • #11
  • Last Post: Nov 9, 2005 6:18pm Nov 9, 2005 6:18pm
the problem with racing is that i dont have the talent. i tried, and hard, but you have to be born with it, and i wasnt. fortunately though, i was born with the skills needed to be a trader. im not complaining at all...i love trading, i have met few people who loved their job as much as me. its a vehicle for me though. but like you said, my mind may change when i get to 50mil. i hope it doesnt though.
Relax and be happy.
0 traders viewing now