Warren Buffett says has been buying Brazilian real

Thu Oct 18, 2007 4:36pm EDT
 
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NEW YORK (Reuters) - Warren Buffett said on Thursday his Berkshire Hathaway Inc (BRKa.N) (BRKb.N) insurance and investment company has been buying the Brazilian real currency.

Buffett disclosed the stake in an interview on Fox Business Network.

Buffett once had a bet of more than $21 billion against the U.S. dollar amid concern over mounting U.S. trade and current account deficits.

He pared most of that stake. In May, at Berkshire's annual meeting in Omaha, Nebraska, he told shareholders that Berkshire was betting on one currency, and that it would "surprise" them.

(Reporting by Jonathan Stempel)

 

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