Warren Buffett, perhaps the world's most admired investor, said on Thursday the financial panic that gripped the globe last year is a thing of the past, even as the
Buffett, 79, nevertheless said there is greater opportunity for investments inside the
He appeared at
Last month, preliminary government data showed the
Buffett last week made a big bet on the US economy when his Berkshire Hathaway Inc agreed to pay about USD 26.4 billion for the 77% of railroad company Burlington Northern Santa Fe Corp that it did not already own.
"There will be more people in this country, 10, 20, 30 years from now," Buffett said. "They'll be moving more and more goods back and forth to each other and the most environmentally friendly and cost-efficient way of doing that is railroads."
Buffett said rail transport uses one-third less fuel and pollutes the air less than trucks, and that one train can supplant about 280 trucks.
Gates, who is also a
Separately, Buffett advised the
"More sticks are called for," he said.
Buffett gave Federal Reserve Chairman Ben Bernanke and US Treasury Secretary Timothy Geithner "high marks" for how they managed the financial crisis.
The billionaire has praised Bernanke in the past, while mocking Geithner's stress tests for banks.
CNBC television was a host for the
Tuesday, November 17, 2009
The financial panic is over: Warren Buffett
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