Thursday, February 07, 2008

Oil sands an invaluable assett: Buffett

Warren Buffett said Wednesday he made "several hundred million dollars" on the loonie but wished he kept the holding because he believes the currency will likely continue to strengthen.

The chairman and chief executive of Berkshire Hathaway Inc. also said Canada's oilsands were a valuable asset for a fuel-hungry world but indicated he does not have the technical expertise to invest in the area.

Although he owns no stakes outright in any Canadian companies -- and declined to say if he was interested in buying any -- he is certainly pleased with the Northern exposure he has.

"We owned the Canadian dollar," Mr. Buffett said in an exclusive interview with the Financial Post. "We made several hundred million dollars.... I wish I kept them."

1 comment:

ltlmac41 said...

Speaks volumes about why he owns COP and BNI...