Warren Buffett, the Oracle of Omaha, had some soothing and bullish words to say about the economy and the future of the country. With all of the doom and gloom coming out of the mouths of the talking heads on television, this is quite nice to hear. This isn’t some charlatan trying to talk up the market; it is the most successful investor of all time who has his pulse on a wide variety of businesses through his mega-conglomerate Berkshire Hathaway. Here is what he had to say:
“I am a huge bull on this country. “We will not have a double-dip recession at all. I see our businesses coming back almost across the board.” He said this to the Montana Economic Development Summit. He put his money where his mouth is recently by buying up railroad giant Burlington Northern Santa Fe for about $27 billion in February. At the time he said it was an “all in” bet on the American economy.
Why Trust Warren?
As I alluded to already, Warren Buffett isn’t your average guru. A lot of academics and market watchers make proclamations all of the time, but usually their recommendations aren’t worth the paper they are printed on. Warren Buffett became the second richest person in the world solely from investing which is just amazing. More importantly in my opinion, is the fact that his company owns so many diverse businesses from Dairy Queen to GEICO. He would know more than almost anybody in the country how the economy is truly doing. Buffett went on to say that he has seen his companies add to their payrolls over the past few months, which is another bullish sign.
The stock market seems to agree with Buffett as it has staged a nice rally in the dreaded month of September. It seemed like just yesterday that the Dow was below 10,000 and people were saying the sky is falling. The S&P 500 is close to breaking out of a recent trading range if it can sustain its upside momentum. Whatever the short-term action has been or will be, long-term investors can sleep easy with the words of a real oracle: Warren Buffett.
If Warren Buffett is Bullish, So Am I is an article from: 
