Warren Buffett Bought Brazilian Real
Oct 20th, 2007 by Martin Lee
Earlier on, we had speculated on what currency Warren Buffett was actually holding. The mystery currency that Warren Buffett bought turned out to be the Brazilian Real.
Warren Buffett said in an interview on Fox Business Network, “If you told me 10 years ago I would buy the Brazilian real, you would, I would, have thought you were crazy,”.
Warren Buffett also mentioned he had bought some Brazilian bonds, although not a huge position. He’ll said they will make around $100 million from those bonds.
So far in 2007, the real has gained 19 percent against the dollar while the last five years had seen the Brazilian currency doubled compared to the American currency.
Before you go rushing to follow Warren Buffett’s lead to buy the Brazilian Real now, you might want to know that he also said, “We may be cashing out of the reals.“