Warren Buffett`s Berkshire Hathaway released its closely-watched annual letter on Saturday, in which the Oracle of Omaha told investors that the holding company`s investment gains would continue to be `substantial` in the coming years.
"Above all, it`s our market system ? an economic traffic cop ably directing capital, brains and labor ? that has created America`s abundance," the investor wrote.
The Omaha, Nebraska-based conglomerate`s net earnings rose to $6.29 billion in the fourth quarter of 2016, up from $5.48 billion in the comparable year ago period.
Since 1965, Berkshire has returned a whopping 19 percent annual gain, a function of what Buffett said was a free market that created American prosperity.
"Our efforts to materially increase the normalized earnings of Berkshire will be aided ? as they have been throughout our managerial tenure ? by America`s economic dynamism.
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