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The real reason why Warren Buffett is shopping in Europe « Peter J. Cooper’s Weblog
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by arabianmoney | May 21, 2008 at 12:23 am
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Expect a rough couple of years for the greenback with even lower interest rates to offset a Wall Street crash to greet President Obama and the economic mess the current administration leaves behind. Dollar devaluation will eventually bottom out but Buffett wants some insurance, and that is what he will buy in Europe.
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at 12:11 on May 21st, 2008
Hi arabianmoney, The euro investments is one reason to prosper, don't forget Buffet's second message, shopping for intelligent family owned surviver companies that find the way. However the problem starts here in Europe. If the family owned company is in good shape, it doesn't take money from soft riders. If it's in bad shape Buffet will not invest. Europe should force instead the banks to provide money for innovation covered middle class credits.
at 21:09 on May 21st, 2008
You're right - and compared to overborrowed America and also Britain, Europe does look far sounder. I too would question the logic of a European group hitching their cart to the Berkshire model at this stage - his shares look as overvalued as the whole of Wall Street right now!