Warren Buffett: There’s Folly in Wonderland

billionaire investor Warren E. Buffett

The billionaire investor Warren E. Buffett disclosed Friday that he had earned profits for shareholders of Berkshire Hathaway by speculating in the Brazilian currency, the real, and by buying a large stake in a French pharmaceutical company, Sanofi-Aventis.

He also complained that many other companies were overstating earnings, and he expressed puzzlement that their auditors let them get away with it.

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