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Warren Buffett: 'The mother lode of opportunities runs through America'

warren buffett obama
warren buffett obama

Getty Images / Chip Somodevilla U.S. President Barack Obama (L) presents investor, industrialist and philanthropist Warren Buffett with the 2010 Medal of Freedom. Warren Buffett's 50th annual letter to Berkshire Hathaway shareholders is out.

And boy is he bullish on America.

Here's Buffett:

Though we will always invest abroad as well, the mother lode of opportunities runs through America. The treasures that have been uncovered up to now are dwarfed by those still untapped. Through dumb luck, Charlie and I were born in the United States, and we are forever grateful for the staggering advantages this accident of birth has given us.

Buffett also talks a bit about his 2009 acquisition of BNSF, which Buffett called at the time an "all-in wager on the economic future of the United States."

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"Indeed, who has ever benefited during the past 238 years by betting against America?" Buffett wrote.

Adding:

If you compare our country’s present condition to that existing in 1776, you have to rub your eyes in wonder. In my lifetime alone, real per-capita U.S. output has sextupled. My parents could not have dreamed in 1930 of the world their son would see. Though the preachers of pessimism prattle endlessly about America’s problems, I’ve never seen one who wishes to emigrate (though I can think of a few for whom I would happily buy a one-way ticket).

In his letter, Buffett said that Berkshire's subsidiaries spent a combined $15 billion on plant and equipment in 2014, with 90% of that investment happening in the US.

And as Buffett sees it, why would he want to invest anywhere else?

Read more coverage of Buffett's letter from Business Insider here »

And read Buffett's letter here »

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