Warren Buffet and Berkshire-Hathaway are paying the price for betting against America

WARREN BUFFET IS BEARISH on the United States, and he's bullish on Europe. For the first time in his life, starting in 2002, Mr. Buffett entered the foreign exchange markets and shorted the dollar. This rare macro-economic bet was based on a belief that U.S. consumers and the U.S. government were spending beyond their means, and that the trade deficit was a sign of economic weakness.

...

Buffett's anti-American investment sentiment has cost Berkshire Hathaway shareholders dearly. During the 12 months ending in mid-June, his stock price was down roughly 7 percent, while the S&P 500 was up 5 percent. The stock market voted "non" on this Berkshire investment strategy, just like the French and Dutch voted against the European constitution.
Buffet put his and his investor's money where his Democrat politics led him. Always a bed bet.

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