For Warren Buffett, America’s Best Days Always Lie Ahead
An American flag is displayed at the New York Stock Exchange on Friday, Nov. 11, 2016. U.S. stocks fluctuated in whipsaw trading, with the Dow Jones Industrial Average spinning near a record, as investors guess how Donald Trump's policies will affect the economy and interest rates. Small caps appear headed for the best weekly gain in five years.
Photographer: Michael Nagle/BloombergWarren Buffett’s faith in the promise of America remains unshaken, and he thinks yours should be, too.
The “economic dynamism” of the nation is described as no less than “miraculous” in his 2016 shareholder letter for Berkshire Hathaway released this weekend. It’s far from the first time the 86-year-old billionaire has made it his patriotic duty to remind Americans of their country’s history of resiliency. In 2008, gazing at the financial crisis through a long lens, he wrote that “fears regarding the long-term prosperity of the nation’s many sound companies make no sense.” In 2015, the “negative drumbeat” of political statements about the nation’s problems led him to declare that “the babies being born in America today are the luckiest crop in history.”