When Buffett speaks.

• Author: Peters, Charles
• Position: Warren Buffett - Brief Article

When Warren Buffett recently predicted to the annual meeting of his stockholders that the dollar would continue to fall, my first thought was cynical: Buffett has a very large sum--$21 billion--invested in foreign currencies. He will make money if his prediction influences what happens.

But then I remembered a public comment that Buffett had made during the 1980s about the future of newspapers. He said that future was not promising. Yet at the time he owned sizable chunks of The...