Published by Everett Taylor on February 27, 2017

Warren Buffett Upbeat on US Business Growth

US billionaire Warren Buffett has backed American businesses to continue to create “mind-boggling” wealth.

The investment guru, known as the “Sage of Omaha”, said US stocks were “virtually certain to be worth far more in the years ahead”.

Mr. Buffett steered clear of mentioning President Trump in his annual letter to shareholders in his investment firm.

But he did praise “a tide of talented and ambitious immigrants” in helping the US economy to prosper.

Mr. Buffett, who supported Democratic candidate Hillary Clinton in the US presidential election, did not address Donald Trump’s policies.

But he took an upbeat view of the US economy, repeating his claim that “babies born in America today are the luckiest crop in history”.

Mr. Buffett’s comments came as his firm Berkshire Hathaway, which owns dozens of US stocks including Apple, Coca-Cola and the four biggest US airlines, reported a 15% rise in fourth-quarter profits to $6.3bn (£5bn).

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