Tuesday, March 1, 2011

Buffett the Bull

Warren Buffett's annual reports for his investing vehicle, Berkshire Hathaway, are always worth reading, if only to find out what's on the mind of America's most successful investor. But this year's provides some really good news, for the Oracle of Omaha is making it very clear that he is optimistic about the American economy.


“The prophets of doom have overlooked the all-important factor that is certain,” Buffett wrote. “Human potential is far from exhausted, and the American system for unleashing that potential – a system that has worked wonders for over two centuries despite frequent interruptions for recessions and even a Civil War – remains alive and effective. Now, as in 1776, 1861, 1932 and 1941, America's best days lie ahead.”

Buffett's putting his money where his mouth is. In 2010, more than 90 percent of Berkshire Hathaway's investments went into American goods, a total of more than $5 billion. Buffett said that was just the beginning: From now on, the company will be putting nearly all its money into America.

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