LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS

Read in App
Business News » World News

Buffett calls pessimists about United States 'out of their mind'

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Wed, Sep 20, 2017
10:24 am
Reuters
RELATED NEWS
Expert Views: BIG! India's retail inflation eases to 4.59% in December Expert Views: BIG! India's retail inflation eases to 4.59% in December
Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands
Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED
Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED    Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED
Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY! Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY!

Uncertainty about how the United States will cope with growing tumult in the world has not dampened Warren Buffett`s optimism for the country`s prospects over the long term -- even 100 years into the future.

"Whenever I hear people talk pessimistically about this country, I think they`re out of their mind," Buffett, the chairman of Berkshire Hathaway Inc, said on Tuesday night.

Buffett spoke in New York at an event celebrating the 100th anniversary of Forbes magazine, and is on the cover of an issue featuring 100 of the world`s greatest living "business minds."

The billionaire has transformed Berkshire since 1965 from a failing textile company into a conglomerate with more than 90 businesses in such sectors as insurance, railroads, energy and retail, and well over $100 billion of stocks.

Buffett said he expects the Dow Jones Industrial Average to be "over 1 million" in 100 years, up from Tuesday`s close of 22,370.80. He said that`s not unreasonable, given how the index was roughly 81 a century ago.

But he knows he won`t be around to see it happen.

"When I hear talking about making it to 100, I get excited," he said. "I`m 87."

Buffett said he recently determined that of the 53,364 people in the United States who were at least 100 years old, the ratio of women to men was nearly 5-to-1.

"We should start thinking about a sex change," Buffett said, prompting laughter.

Nonetheless, he said long-term investing remains the way to go.

He noted that since Forbes created its first list of the 400 richest Americans in 1982 -- Buffett was worth just $250 million then -- some 1,500 different people have been included.

All with one thing in common.

"You don`t see any short sellers," he said, referring to people who bet stock prices will fall.

"It has been 241 years since Thomas Jefferson wrote the Declaration of Independence," he said. "Being short America has been a loser`s game. I predict to you it will continue to be a loser`s game."

Forbes` list of top business minds included people with a variety of backgrounds.

Among them were Microsoft co-founder Bill Gates, Amazon.com founder Jeff Bezos, Facebook`s Mark Zuckerberg and Sheryl Sandberg, Nobel Peace Prize winner Muhammad Yunus, architect Frank Gehry, media mogul Oprah Winfrey, and singers Bono and Paul McCartney.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Expert Views: BIG! India's retail inflation eases to 4.59% in December Expert Views: BIG! India's retail inflation eases to 4.59% in December
Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands
Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED
Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED    Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED
Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY! Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY!

LATEST NEWS

Rs 5, 10 and 100 news: Will old notes be valid after March 2021? Here is truth from Modi government

Recovery of excess pension made to pensioners: Big decision! Important notification by RBI

Nearly Rs 10 lakh fine on wedding organiser for breaching Covid-19 lockdown; many guests left as police arrived

Bullet Train: Undersea tunnel! Here is latest news update on Mumbai-Ahmedabad High Speed Rail

Twitter acts on inactive accounts, new verification soon

Check Modi government's latest notices to Chinese apps including Tiktok, PUBG mobile game

Just 42 pct girls allowed access to mobile phone for less than an hour a day: Survey

Budget 2021 Expectations: Mobile industry raises demand for GST rate cut in Union Budget 2021-2022

UPSC Recruitment 2020: Result for these written examinations declared - Check full list of roll numbers

Anand Mahindra to gift THAR-SUV to Natarajan, Mohammed Siraj, Thakur, Washington Sundar, Shubman Gill and Navdeep Saini

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved