The strength of the dollar has played havoc with the forecasts that many currency experts made for the FT Money's 2005 competition and tended to confirm a widespread view that predicting foreign exchange movements is a mug's game.

Even as eminent an investor as Warren Buffett, the Sage of Omaha - not, it must be said, a participant in our competition - could not avoid losses on the $20bn or so that Berkshire Hathaway, his investment company, bet on a falling dollar.