Warren Buffet’s Annual Letter Offers Hymn To U.S. Economy

Warren E. Buffett, the billionaire investor, on Saturday lauded the “miraculous” qualities of the United States economy in highlighting another stellar year for his company, Berkshire Hathaway.

Mr. Buffett, whose record of beating the stock market over the past 50 years is unparalleled, is known for being persistently optimistic about the prospects of the American economy.

But his usual hymn to the dynamism of the American economy in his annual letter to Berkshire Hathaway shareholders that was released on Saturday morning reached new heights. “Americans have combined human ingenuity, a market system, a tide of talented and ambitious immigrants, and the rule of law to deliver abundance beyond any dreams of our forefathers,” Mr. Buffett wrote.

He was a vocal supporter of Hillary Clinton during last year’s presidential campaign and he did not mention President Trump in his letter. But his celebration of the American economy’s ability to deliver growth stands in stark contrast to President Trump’s darker descriptions of the country’s economic prospects.

Read more at The New York Times.