WARREN BUFFETT, the second richest man in the world, has attacked greedy chief executives and scandal-ridden mutual fund firms, as his Berkshire Hathaway vehicle announced near-doubled profits for 2003.
Mr Buffett released his annual letter to shareholders at the weekend, saying last year’s investment strategy involved a winning bet against the dollar. He said that by the end of 2003, Berkshire held positions in five foreign currencies worth $12 billion. He said he began investing in foreign currency for the first time in 2002 as a result of the widening US trade deficit.
The 73-year-old Mr Buffett’s annual letter always strays beyond investment matters and features plenty of anecdotes and his folksy humour. This year he called on mutual fund companies and others to elect