Warren Buffett's $173 Billion Warning to Wall Street Can't Be Ignored Any Longer
This once-silent warning has become deafening over the last nine quarters.
Few Wall Street money managers garner the attention of professional and everyday investors quite like Berkshire Hathaway's (NYSE: BRK.A)(NYSE: BRK.B) billionaire CEO Warren Buffett.
The aptly dubbed "Oracle of Omaha" has overseen a jaw-dropping return in his company's Class A shares (BRK.A) of more than 5,800,000% over the last six decades, as of the closing bell on Feb. 21. When you run circles around the benchmark S&P 500 (SNPINDEX: ^GSPC), which has returned closer to 40,000%, including dividends, over the same time frame, you're bound to earn a following.
In addition to riding Buffett's coattails to significant long-term gains, investors have also come to appreciate Buffett's open-book approach. His annual letter to shareholders and yearly meeting in Omaha provides a forum for Berkshire's chief to speak candidly about the U.S. economy, the stock market, and the characteristics he looks for in great businesses.
