Warren Buffet Avoids Politics, Shows Optimism on US Economy in Letter to Berkshire Hathaway

  • Warren Buffet, the legendary billionaire and philanthropist, in an annual letter to Berkshire Hathaway Inc shareholders, showed his optimism on US business growth and called the achievements of the country “miraculous”. He opined that the American society prospered in the last 240 years because of the amalgamation of 5 factors - human ingenuity, rule of law, ambitious immigrants, tide of talent, and existence of a market system. His firm reported an increase in fourth quarter profit by 15 per cent to a mammoth $6.3 billion. However, Berkshire's performance was slower than that of S&P 500 in the year 2016 as the former grew at 10.7 per cent, whereas the latter increased by 12 per cent.