Investment guru Warren Buffett has ruled out a double dip recession in the US and says the businesses owned by his Berkshire Hathaway vehicle are expanding.
Speaking to the Montana Economic Development Summit, Buffett says he remains confident of a American economic rebound, Bloomberg reports.
"I am a huge bull on this country. We will not have a double dip recession at all," Buffett says. "I see our businesses coming back almost across the board."
Buffett's Berkshire made a huge bet in the US economy earlier in the year, completing the $27bn deal for railroad Burlington Northern Santa Fe in February.
"I've seen sentiment turn sour in the last three months or so, generally in the media," the Sage of Omaha says.
"I don't see that in our businesses. I see we're employing more people than a month ago, two months ago."
Buffett is also bullish on Berkshire's stakes in US financials. The company is the largest shareholder of Wells Fargo.
"It's night and day from a year, year and a half ago," Buffett adds. "I know Wells Fargo, they would love to have $50bn more of loans now. Go in and talk to the banker."
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