Warren Buffett Blasts Trump In Annual Letter, Max Keiser Blasts Buffett

Every year, analysts inspect Buffett's annual letter looking for successor hints. This year they found a blast of Trump.

Reuters reports Buffett Appears to Fault Trump, Laments Deals Dearth in Berkshire Letter.

Warren Buffett on Saturday appeared to fault U.S. President Donald Trump for taking too much credit for the nation’s economic growth, while acknowledging that market conditions are making it tough for his Berkshire Hathaway Inc to find more big companies to buy.

The 88-year-old said Berkshire’s success has been in part a product of “the American tailwind” that has enabled the country to enjoy “almost unbelievable prosperity.”

Buffett, who supported Democrat Hillary Clinton in her 2016 White House run, said no one person should claim credit when things go well.

“It is beyond arrogance for American businesses or individuals to boast that they have ‘done it alone,’” Buffett wrote.

Buffett also made a possible oblique criticism of Trump’s bragging about U.S. economic performance, including relative to other countries such as China, where Berkshire invests in electric car maker BYD Co.

The United States, according to Buffett, should “rejoice” when other countries have bright futures. “Americans will be both more prosperous and safer if all nations thrive,” he wrote. “At Berkshire, we hope to invest significant sums across borders.”

American Tailwind

Buffett's Annual Letter concluded:

Charlie and I happily acknowledge that much of Berkshire’s success has simply been a product of what I think should be called The American Tailwind. It is beyond arrogance for American businesses or individuals to boast that they have “done it alone.”

Over the next 77 years, however, the major source of our gains will almost certainly be provided by The American Tailwind. We are lucky – gloriously lucky – to have that force at our back.

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