Warren Buffett’s Annual Letter Enthusiastic

Feb 27, 2011
J. Webster
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Buffet’s positive view on the American economy could boost market:

“Money will always flow toward opportunity, and there is an abundance of that in America,” said Buffett, who has run Omaha, Nebraska-based Berkshire Hathaway since 1965 and is now one of the world’s richest men.

“The prophets of doom have overlooked the all-important factor that is certain: Human potential is far from exhausted, and the American system for unleashing that potential … remains alive and effective.”

He also forecast a recovery in the housing market “within a year or so” and that “America’s best days lie ahead.”

Given that Buffett owns the entirety or a large share of the country’s largest railroads, insurers, banks, consumer products makers and distributors, his optimism could be seen as an endorsement of the economy in 2011 and beyond.

It’s tough to time the market, so if the U.S. economy is going to continue to improve, you’ve got to build positions in stocks you like.

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