Warren Buffett: I’m Still Bullish on America With These Companies
More than five years have passed since Warren Buffett publicly proclaimed that he was buying American stocks for his personal account. The announcement came as investors were fearful of a complete financial meltdown and just a few months before stocks found a bottom. While many people doubt how much farther the bull market will run, Buffett is still bullish on America.
The Oracle of Omaha recently released his annual letter to shareholders. Berkshire Hathaway’s (NYSE:BRKA) gain in net worth during 2013 totaled $34.2 billion as per-share book value jumped 18.2 percent. Over the past 49 years, or since the present management took over, Berkshire’s book value has increased from $19 per share to an astounding $134,973, representing a rate of 19.7 percent compounded annually. A large amount of money is being deployed in America to ensure future gains.
In 2013, Buffett completed acquisitions of two large American companies. In fact, Berkshire spent $18 billion to purchase all of NV Energy and a major interest in H.J. Heinz. “Both companies fit us well and will be prospering a century from now,” Buffett wrote. Berkshire now owns 8.5 companies that would be in the Fortune 500 if they were standalone businesses — “only 491.5 companies to go.”