Warren Buffett and Supermodel Gisele Bundchen on Same Side of U.S. Dollar Trade
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They're both famous, they're both very wealthy and they both don't want to get paid in U.S. dollars right now if they can avoid it. One major difference: she dresses better.
Bloomberg today is comparing the Brazilian supermodel Gisele Bundchen, the "world's richest model" with Warren Buffett, one of the world's richest investors. Bloomberg says she "is at the top of a growing list of rich people who have concluded that the (U.S. dollar) can only depreciate because Americans led by President George W. Bush are living beyond their means."
Bloomberg quotes the Brazilian weekly magazine Veja as saying that she demanded Procter & Gamble pay her in euros for representing Pantene hair products. The magazine also says she'll be paid in euros by an Italian designer promoting a new fragrence.
Gisele's twin sister Patricia tells Bloomberg: "Contracts starting now are more attractive in euros because we don't know what will happen to the dollar."
Compare that to what Warren Buffett told CNBC's Mark Haines as Buffett was flying to China. When Mark asked in a telephone chat, 'What is the best currency in the world to own right now?", Buffett responded with a laugh, "Not the U.S. dollar."
The Financial Times Alphaville blog wonders today if those who "failed to heed the warnings of Mssrs Buffett, (Bill) Gross and the other dollar bears" will find "the Bundchen twins more persuasive."
Questions? Comments? Email me at buffettwatch@cnbc.com
