On the other hand, here’s a guy with a real track record of accomplishment who thinks the future will be okay

Warren Buffet buys Burlington Northern Railroad.

“Our country’s future prosperity depends on its having an efficient and well-maintained rail system,” said Warren E. Buffett, Berkshire Hathaway chairman and chief executive officer. “Conversely, America must grow and prosper for railroads to do well. Berkshire’s $34 billion investment in BNSF is a huge bet on that company, CEO Matt Rose and his team, and the railroad industry.

“Most important of all, however, it’s an all-in wager on the economic future of the United States,” said Mr. Buffett. “I love these bets.”

I couldn’t hope to have my pessimism proved wrong by a better man.

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2 responses to “On the other hand, here’s a guy with a real track record of accomplishment who thinks the future will be okay

  1. Anonymous

    Though Warren’s investing track record of past 10 yrs is unremarkable at best

  2. KC

    I, too, have had some misgivings about Buffet and Berkshire in the past year or two but your post gives me some encouragement. I see alot of rail activity down here (not so much BNSF but UP and Norfolk Southern as well as some of the second tier railroads) and alot of the local yards seem pretty active so, possibly, he’s on to something but then maybe I’m biased because I’ve always liked watching the trains.