Warren Buffett has never been too pessimistic on the economy, though he’s never been one to see consensus on the way up.
Throughout 2009, as the media saw more and more green shoots, the word out of Berkshire Hathaway was one of scepticism.
This year his tone has mostly been one of caution.
And now that the media is obsessed with the double-dip scenario? Warren’s suddenly bullish.
“I am a huge bull on this country,” Buffett, Berkshire’s chief executive officer, said today in remarks to the Montana Economic Development Summit. “We will not have a double-dip recession at all. I see our businesses coming back almost across the board.”
“I’ve seen sentiment turn sour in the last three months or so, generally in the media,” Buffett said. “I don’t see that in our businesses. I see we’re employing more people than a month ago, two months ago.”
Buffett of course is extremely diversified, from finance, to housing, to rail (we noted last week that he’s probably up $14 billion already on his Burlington Norther bet), so there’s really no slice of the economy he can’t see firsthand.
If he thinks the real economy isn’t matching the gloomy rhetoric, that’s to be taken seriously.