Optimism from the Oracle of Omaha

Warren Buffett spoke to reporters Sunday, a day after Berkshire-Hathaway’s annual meeting with shareholders. AP reports, “OMAHA, Neb. — Billionaire Warren Buffett says the American economy is definitely improving with most signs of life coming in manufacturing businesses.”


Berkshire-owned companies are now hiring on a net basis, Buffett said, adding that the businesses “let go a lot of people” in 2009.

Buffett cited Iscar, an Israel-based industrial tool maker, as a firm now hiring around the world, but he didn’t specify other Berkshire-owned companies that are currently adding staff.

“Right now we’re seeing pretty strong signs of an improvement in the industrial sector,” Buffett said, pointing to Iscar and industrial conglomerate Marmon. 

Bloomberg, “Buffett Touts Economy as Berkshire Seeks Deals, Hires Workers“:

“Unemployment is going to come down,” Buffett, 79, said yesterday at a press conference in Omaha, Nebraska, a day after Berkshire’s annual shareholders meeting. “Business is picking up. We at Berkshire are hiring now. We let go a lot of people last year. American business is improving from everything I can see now.”

Dow Jones, “Mr. Buffett Goes to Bat for Goldman, Moody’s“:

At Berkshire Hathaway Inc.’s annual meeting here this weekend, the legendary investor mounted a vigorous defense of Goldman Sachs Group Inc., sued for civil fraud by regulators and under assault by Congress for its business dealings. And he praised the business model of Moody’s Corp., whose ratings agency has been lambasted as too cozy with bankers.

How dare he! Call him before Congress!



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