Warren Buffett, chairman and CEO of Berkshire Hathaway, has been a consistent voice of optimism on the U.S. economy and American innovation.
Warren Buffett, chairman and CEO of Berkshire Hathaway , has been a consistent voice of optimism on the U.S. economy and American innovation.
While U.S. history is riddled social and economic turmoil, the country always seems to come out on top. “I don't know when they will occur, and I don't know how deep they will occur,” he said. “I do know they will occur from time to time, but I also know that we'll come out better on the other end.”“You flew over a country that 250 years ago, there wasn't anything here,” Buffett added. “That's only three of my lifetimes, and there wasn't anything here ... And I mean, it's incredible.
In the weeks since the COVID-19 outbreak escalated in the U.S. in mid-March, Berkshire Hathaway has trimmed stakes in several of its portfolio companies amid the broader drawdown in the stock market. Berkshire Hathaway unloaded some shares in airlines Delta and Southwest , and sold a small portion of its Bank of New York Mellon stake earlier this year, according to regulatory filings in April.
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