The Oracle of Omaha just issued his annual letter to the Berkshire Hathaway shareholders. You can read it here. As always it is full of insights, humor and common sense. I am pleased to share a short quote.
“Money will always flow toward opportunity, and there is an abundance of that in America. Commentators today often talk of “great uncertainty”. But think back, for example, to Dec. 6, 1941, Oct. 18, 1987 and Sept. 10, 2001. No matter how seren today may be, tomorrow is always uncertain.
Don’t let that reality spook you. Throughout my lifetime, politicians and pundits have constantly moaned about terrifying problems facing America. Yet our citizens now live an astonishing six times better than when I was born. The prophets of doom have overlooked the all-important factor that is certain: Human potential is far from exhausted, and the American system for unleashing that potential – a system that has worked wonders for over two centuries despite frequent interruptions for recessions and even as Civil War – remains alive and effective.
We are not natively smarter than we were when our country was founded nor do we work harder. But look around you and see a world beyond the dreams of any colonial citizen. Now as in 1776, 1861, 1932 and 1942, America’s best days lie ahead.” Warren Buffett Feb. 26, 2011