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The world's best-known investment guru Warren Buffett has lost close to $310 million in the first quarter of the current financial year from his bets against the US dollar, The Times reported on Monday.
However, Buffet -- the world's second-richest man and the Chairman of Berkshire Hathaway -- is hardly perturbed and continues to hold his stand on the dollar.
Addressing the 19,000-odd shareholders at Berkshire Hathaway's annual general meeting in Omaha, Nebraska, Buffett reiterated his worry over the diminishing enthusiasm for dollars and the ever-rising budget and trade deficits of America.
Even the 'Sage of Omaha' -- as Buffet has been nicknamed -- spoke to shareholders, global ratings agency Fitch Ratings revised the rating on Berkshire Hathaway from 'stable' to 'negative.'
Berkshire will most likely announce in the next few weeks an insurance acquisition worth less than $1 billion, barely 2 per cent of the company's $44 billion cash till.
Just a few days ago reports said that the world's third richest man and chairman of Mittal Steel, L N Mittal, may have lost up to Rs 40,000 crore due to a sharp fall in the stock prices of his company.