Buffett: Double Dip Recession is UnlikelyPublished on July 8, 2010 at 8:38 am
In an interview today with Yahoo News and The Huffington Post, Warren Buffett reiterates his belief that the United States economy is emerging from recession and is unlikely to suffer a near term relapse. Mr. Buffett, interviewed from Sun Valley where he is attending the annual Allen & Co. conference, has been making increasingly bullish statements regarding the economic outlook in recent months.
While Sun Valley is full of executives who have opinions on the economy, Mr. Buffett’s views carry more weight not only because of his investment track record but due to the information he receives on a regular basis from Berkshire Hathaway’s diverse subsidiaries. In addition, with the acquisition of Burlington Northern Santa Fe earlier this year, Mr. Buffett probably has the best view of economic activity of any CEO in America.
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Disclosure: The author owns shares of Berkshire Hathaway.