Warren Buffett’s 50th annual letter to Berkshire Hathaway shareholders is out.
And boy is he bullish on America.
Though we will always invest abroad as well, the mother lode of opportunities runs through America. The treasures that have been uncovered up to now are dwarfed by those still untapped. Through dumb luck, Charlie and I were born in the United States, and we are forever grateful for the staggering advantages this accident of birth has given us.
In his letter, Buffett said that Berkshire’s subsidiaries spent a combined $US15 billion on plant and equipment in 2014, with 90% of that investment happening in the US.
And as Buffett sees it, why would he want to invest anywhere else?