Forex - Everybody is Talking about it …
Another sign that the Forex market has come of age is that everyone’s talking about it - investors , financial gurus , and world leaders.
Warren Buffet , , whose Berkshire Hathaway fund has realized an average 22 percent increase in book value annually since 1965 , announced in his 2003 letter to shareholders that he had , for the first time , entered the foreign exchange market on a large scale in 2002 and that he had increased his position in 2003.
Buffet attributed his move to the alarming increase in U.S. trade and government deficits. Buffet , one of the most successful investors in history , knows that weakness in the U.S. dollar could undermine the billions of dollars worth of assets he owns. ” I feel more comfortable owning foreign exchange contracts that are at least a partial offset to that position, ” he concluded.
In 2003 , Morgan Stanley told its clients that they should take advantage of stock opportunities in Japan and Europe. The firm took that position because it believes stocks …
