In an article on Bloomberg today, billionaire investor Warren Buffett allayed concerns about a credit crunch, though he didn’t have the same calming effect when discussing the decline in the U.S. dollar.
Funds are available and can be borrowed inexpensively, said Buffett when addressing a crowd in Toronto. And without policy change, the U.S. dollar is likely to continue to fall during the next decade, said the master investor.
While Buffett isn’t making outright bets on currencies, he does hold the Brazilian real. Buffet is looking to make international investments via his investment vehicle, Berkshire Hathaway (NYSE: BRK.A), in part to hedge his exposure to the U.S. currency.
The company made its first non-U.S. acquisition in 2006, when it paid $4 billion for 80 percent of Israel-based Iscar Metalworking Cos., a family-owned maker of industrial tools, said the same Bloomberg article.
