Brazilian supermodel Gisele Bundchen has joined Warren Buffett and other billionaire investors in concluding that the US dollar is going to depreciate further. Patricia Bundchen, her twin sister and manager, said that contracts in Euros are more attractive. “We don’t know what will happen to the dollar.”
It seems that everyone is betting against the dollar, yours truly included. :)
Bill Gross, manager of the world’s largest bond fund, had this to say, “We’ve told all of our clients that if you only had one idea, one investment, it would be to buy an investment in a non- dollar currency. That should be on top of the list.”
Warren Buffett recently said this on 25th Oct 2007, “We still are negative on the dollar relative to most major currencies, so we bought stocks in companies that earn their money in other currencies“.
Jim Rogers, billionaire trader and former partner of George Soros said last week, “The dollar is collapsing. I’m moving to Asia because moving to Asia now is like moving to New York in 1907 or London in 1807. It’s the wave of the future.”
With so much bearish sentiments towards the US dollars, is there anyone brave enough to be a contrarian? Definitely not me.