Berkshire Hathaway hit by strong dollar
NEWS
The company, which famously began shorting the US dollar in 2002, saw the value of most of its foreign currency contracts drop relative to the US dollar. In June, open contracts reflected a net pre-tax loss of $71 million, while in the second quarter, the forward contracts produced pre-tax losses of $619 million.
However, having first taken a bearish stance on the dollar in 2002, Berkshire has accumulated substantial gains. Since inception, it had accumulated $2.03 billion in pre-tax gains by
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