Warren Buffett Offers Optimistic Outlook On Immigrants, The Economy In Annual Letter

The investment titan has been writing to his shareholders since 1970.

Warren Buffett, the billionaire CEO and chairman of Berkshire Hathaway, praised both immigrants and the resilience of the American economy in his much-anticipated annual letter to shareholders released Saturday. 

"Americans have combined human ingenuity, a market system, a tide of talented and ambitious immigrants, and the rule of law to deliver abundance beyond any dreams of our forefathers," he wrote

Buffett has been writing to the shareholders of his multinational holding company since 1970, and his letters have become known for their down-home bits of wisdom and occasional remarks on current political affairs. In this year's letter, the investor also touched on his goals for the company, the mistakes he's made over the years and his optimistic view of the country's economic potential.

He writes:

You need not be an economist to understand how well our system has worked. Just look around you. See the 75 million owner-occupied homes, the bountiful farmland, the 260 million vehicles, the hyper-productive factories, the great medical centers, the talent-filled universities, you name it – they all represent a net gain for Americans from the barren lands, primitive structures and meager output of 1776. Starting from scratch, America has amassed wealth totaling $90 trillion. 

In a time when economic issues are at the forefront of political rhetoric, especially the impact immigrants have on the economy, Buffett's words offer an encouraging outlook on the U.S.'s financial future.

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(H/T The Washington Post)

Cover image via Kent Sievers / Shutterstock.

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