Warren Buffett: Trump Won’t Derail The Economy; Plans Eenewable Energy Investments – Forbes Interview

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Warren Buffett: Trump Won’t Derail The Economy; Plans Eenewable Energy Investments – Forbes Interview
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In an interview with Fortune, Warren Buffett talks about the election, wind energy, and Jeff Bezos.

Warren Buffett has a message for his fellow former Hillary Clinton supporters: Don’t worry too much.

 

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In only his second interview since Donald Trump won the American presidential election, Buffett, the chairman of insurance conglomerate Berkshire Hathaway BRK.A 0.04% and the world’s most famous investor, told Fortune that he thinks the President-elect won’t derail the U.S. economy or the stock market.

Buffett was a vocal supporter of Clinton, holding more than a dozen fundraisers for her, and even hiring a trolley in his hometown of Omaha on election day to get people out to vote.

Warren Buffett

Nonetheless, Buffett says the U.S. will be wealthier after Trump’s presidency. What’s more, the Oracle of Omaha says the outcome of the election hasn’t made him pessimistic about the U.S. stock market. He’s still buying the same stocks he was before Nov. 8.

On top of that, Buffett says his company, which has already spent $15 billion in the past decade on building wind farms, is likely to continue to pour billions more into developing the renewable energy technology. That’s despite the fact that Trump, who has called global warming a hoax, has indicated that he would like to roll back wind energy generation tax credits.

The President-elect recently told The New York Times that he is not for subsidizing wind farms. “I mean, for the most part they don’t work. I don’t think they work at all without subsidy, and that bothers me, and they kill all the birds,” Trump said.

Buffett says his company’s investment has been good for both his company and its investors and customers, as well as for society as a whole.

By Stephen Gandel, Fortune - read the full article here.

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