Warren Buffett is bullish on America, critical of Wall Street fees in annual shareholder letter
Billionaire Warren Buffett published his annual letter to Berkshire Hathaway shareholders on Saturday, predicting investors "will almost certainly do well" if they stick with a "collection of large, conservatively financed American businesses." The American economy "is virtually certain to be worth far more in the years ahead," he wrote, enthusing about American "economic dynamism":
One word sums up our country’s achievements: miraculous. From a standing start 240 years ago — a span of time less than triple my days on Earth — 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. You need not be an economist to understand how well our system has worked. Just look around you. [Berkshire Hathaway]
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