“The Progress of Mankind Has Been Incredible, and That Won’t Stop”
This is a quote from Warren Buffett, who has been a consistent voice of optimism regarding the U.S. economy and American innovation, during a March 10 interview with Yahoo Finance. Mr. Buffett went on to say, “we haven’t forgotten how to make progress in this country”.
At the recent Berkshire Hathaway annual shareholder meeting, Mr. Buffett expanded on these themes and reiterated his confidence in the U.S. and its economy.
However, investors might want to parse Mr. Buffett’s most recent commentaries very carefully, as it appears that, while he remains totally committed to his long term views, the near term outlook is not as clear. In other words, garnering the rewards of a successful investment strategy may require a little more patience than in the past.
All comments and suggestions are welcome.
Walter J. Kirchberger, CFA