Warren Buffett’s annual letter to Berkshire Hathaway shareholders is out, and it’s full of wisdom from the Oracle of Omaha.
In
it, Buffett, the 86-year-old CEO of the company, offers his thoughts on
American business and, by extension, the US stock market.
And the view is simple: stocks will, over time, go up.
“America’s economic achievements have led to staggering profits for stockholders,” Buffett writes.
“During
the 20th century the Dow-Jones Industrials advanced from 66 to 11,497, a
17,320% capital gain that was materially boosted by steadily increasing
dividends. The trend continues: By year-end 2016, the index had
advanced a further 72%, to 19,763.
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