Warren Buffet, Chairman of Berkshire Hathaway (BRK-A, BRK-B), and legend in the investing world, was expressing his optimism in in an interview on CNBC’s Squawk Box.
Known for his blunt takes on everything from investing to life and politics, the 92 year old billionaire noted he still has a lot of confidence in the American economy, even as the nation confronts a banking crisis, a potential economic recession, and growing political divisions.
He said, “We love to complain about wherever we are. But the world has changed so much for the better in terms of how well off people are compared to any other time in history. … There’s just all kinds of improvements, but it’s man’s nature to be dissatisfied, and politics does stir that up.”
Of course Buffet will be well aware there is still much to be concerned about, having been consulted by the Biden administration early on in the banking crisis, that began with the collapse of lenders Silicon Valley Bank and Signature Bank.
However regardless of that, the “Oracle of Omaha” says he doesn’t let concern for the future weigh too heavily upon him.
He told the show, “There’s things I worry about, sure. I worry about the nuclear threat. I worry about a pandemic in the future. But I don’t worry about them because I can’t do anything about them. … I never go to bed worried about Berkshire.”
Although Buffet is quick to offer reassuring words to investors on topics like the banking crisis, he still steers clear of polarizing topics, something increasingly difficult as ideologues on both sides expect everyone, including CEOs, to take sides in the growing social, cultural, and political battles rattling America.
Regardless of his wishes, it is a safe bet the Berkshire CEO will end up being confronted with a number of questions on everything from Bitcoin to healthcare insurance when he headlines Berkshire’s annual shareholder meeting on May 6th. However experts say, you can expect him to always be bullish on capitalism.
On Wednesday, Buffet told the Squawk Box hosts, “I was born in 1930, and I’ve been in a golden age ever since I was born. The GDP per capita is up like sixfold or sevenfold in one person’s lifetime. There’s never been anything like that in the history of mankind.”
