Billionaire Warren Buffett said on Saturday that the US government is taking the correct actions to help the economy recover.
Buffett spoke briefly before the opening of the annual meeting for his Berkshire Hathaway, expected to draw an audience of roughly 35 000 people.
"The government is doing the right things," Buffett said. "They're acting in a countercyclical manner."
But Buffett said he can't predict how quickly the economy and the markets will improve. He said last fall that the US faced an "economic Pearl Harbor."
Buffett and his partner, Charlie Munger, were expected to spend more than five hours answering questions at the Berkshire meeting. In the exhibit hall on Saturday morning, Buffett was mobbed by shareholders seeking photos of the billionaire CEO as he walked between exhibits for subsidiaries Justin Boots and Dairy Queen.
The meeting began as usual with a humorous movie, but instead of the traditional comical cartoon, Berkshire offered a reassuring message from animated versions of its products.
An animated Mrs. See of See's Candy told the crowd that it didn't seem right to have a humorous cartoon when so many things in the world don't seem sweet. And a talking Dairy Queen ice cream treat said the security of the company's balance sheet would help it withstand any blizzard.
Read more here
Sunday, 03 May 2009
Subscribe to:
Posts (Atom)
