Buffet Bets $19 Billion Against Dollar

[fxscalper90]

Originally Posted by happy99

Here Historical Charts Of Speculative Positioning. Speculators do not really move market. Just like watching football, not playing football. Most is to make lot of noise in the market.

According to that chart does it indicate that speculators lose more often than win?

[fxscalper90]

Originally Posted by X.Oden

Yeah maybe Soros will make a presence and take away from Buffet. Soros is after all considered the greatest trader in the world.

I doubt Buffet is stupid to put 19Billion on the line for no apparent reason. Do you think a man with that much money doesn't do his research before dumping an enormous amount like that in the market? Do you really believe that someone like Buffet doesn't have the right resources to make a decision like this?

Buffet is a math whiz, however, Soros says the markets are not based on Math, they're based on psychology. Maybe Buffet has met his match in Forex, maybe he's going for a quick kill because he's getting old.

In any case, the guy already made 1.x Billion from his trade. Argue all you want. The guy is a genius.

So far Soros holds the record for largest gains in any trade. I believe he made 2.x billion which recognizes him as the world's greatest trader.

My understanding is that Soros made 1 billion shorting GBP - market timing put him hard in the green where he closed his trade aka 'luck.'

I guess if you had the most money riding short GBP and the currency happened to collapse you too would have gained the most. Doesn't mean he was able to duplicate the maneuver more than once. He himself even called it an "experiment."

After that I read he lost a billion trying the same shenanigans.

I think he's a good talker who got lucky once using other people's money. He's certainly not a 'forex trader' by my definition.

Let's see him do the same thing to EUR/USD that he did to the Thai baht.

Furthermore, if you read his book, that was probably largely made up after the fact, that discussed the silver trade, he was trading a lot of other instruments besides currency.

A real forex trader trades money and only money. How come so many cannot do this? Because it is so difficult to make a profit that's why. If you are trading only money and you are making consistent profits you are then considered the best overall trader in the world.

fx

[mahras]

Harsh words indeed. First of all Soros deals with billions not paltry (comparitively) millions. Its called diversification. One should NEVER put all their eggs in one basket. If you knew about the short of the cable you would know that the short had safed the Brits from a recession. Heh he was not lucky. No one has enough luck to amass such a great fortune. Considering he is said to have donated three times his wealth and his current worth is 7billion, thats a lot.

I suggest you also read up on the Asia Monetary Crisis. You would know it was VERY systematical and not luck.

[jshagenbuch]

interesting how much is he losing today

[Smurf1976]

The fact that Mr Burret seems so keen to let us all know about his bet against the USD has me worried. After all, he doesn't tell us all about his other investments now does he?

[X.Oden]

Holy smoke! I read this and came to one conclusion! I'm the best trader in the world! OMG! I think I'll write an autobiography!

Originally Posted by fxscalper90

My understanding is that Soros made 1 billion shorting GBP - market timing put him hard in the green where he closed his trade aka 'luck.'

I guess if you had the most money riding short GBP and the currency happened to collapse you too would have gained the most. Doesn't mean he was able to duplicate the maneuver more than once. He himself even called it an "experiment."

After that I read he lost a billion trying the same shenanigans.

I think he's a good talker who got lucky once using other people's money. He's certainly not a 'forex trader' by my definition.

Let's see him do the same thing to EUR/USD that he did to the Thai baht.

Furthermore, if you read his book, that was probably largely made up after the fact, that discussed the silver trade, he was trading a lot of other instruments besides currency.

A real forex trader trades money and only money. How come so many cannot do this? Because it is so difficult to make a profit that's why. If you are trading only money and you are making consistent profits you are then considered the best overall trader in the world.

fx

[X.Oden]

He probably did it as a psychological factor to sway the markets in his favor....

UK: "Hey guys! Buffet just slapped 19 Billion Clams against the dollar! The guys a whiz! Quick, gather the funds! We're goin for a ride!"

Originally Posted by Smurf1976

The fact that Mr Burret seems so keen to let us all know about his bet against the USD has me worried. After all, he doesn't tell us all about his other investments now does he?

[lucretrader]

Whispers and rumors within dealing rooms yesterday and again today suggest that Buffett was liquidating portions of his long-term USD bearish bets. Does this portend further gains for the dollar? He certainly isn't the only structural USD bear in the market, and an eventual onslaught of funds unwinding their reflation theme-based trades will see massive gains for dollar investors. 1.18 EUR anyone?