No risk to US economy in long term: Warren Buffett, CEO, Berkshire Hathaway - Economic Times

Warren E Buffett, CEO of Berkshire Hathaway Inc is on his first visit to India, scouting for possible buys for his investment firm Berkshire Hathaway and to also persuade wealthy Indians to pledge money towards charity. Except for the threat of nuclear, chemical and biological warfare, the future could not be brighter, said the legendary investor in conversation with Archana Rai and R Sriram of The Economic Times as he explained why the US economy will rebound led by innovation from entrepreneurs such as Steve Jobs and companies such as Microsoft and Amazon rather than through fiscal stimulus provided by the Federal Reserve.

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It's what I like to do. I just spend the day working with businesses. Working with people I like. I like watching Berkshire grow. It is never a finished painting. Everyday when I go to office I feel like there is a chance to add to the painting. I can't think of anything I would rather do in the world. They may be right in some aspects as to how they see the world. That does not change what we do one bit. I don't care what Citibank is forecasting. There will always be things going on with governments in the world and it won't make any difference. What makes the difference is whether we own the right businesses, run by the right people, and whether we are delivering the products and services that people want. My partner Charles Munger and I have worked together for 50 years. We don't discuss the world economy or what may happen when we look at buying a business. This is because we are buying businesses for keeps and the world's going to be here ten years from now and we want businesses that will serve more and more people when that time comes.

No risk to US economy in long term: Warren Buffett, CEO, Berkshire Hathaway - Economic Times