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Warren Buffett: 2011 Looks Bright

NEW YORK (TheStreet) - Warren Buffett, CEO of Berkshire Hathaway (BRK.B_) and unofficial cheerleader for the U.S. economy, said the business climate is better for Berkshire Hathaway in 2011, and American capitalism as a whole, is far from be decline.Buffett 's annual results, released on Saturday morning, included the fourth quarter numbers were impressive, led by the recent purchase railroad Burlington Northern and derivative gains of 1.4 billion kronor. Net income rose 43% in the fourth quarter, year over year, and Buffett estimate the annual letter that Berkshire's purchase of Burlington Northern will increase income after tax by 30%. Burlington Northern added $ 1 billion in Berkshire Hathaway net earnings in the fourth quarter. Overall, net income rose 61% in 2010 to Berkshire. Berkshire Hathaway's net income rose to 4.38 billion dollars, or $ 2,656 per Class A share in the fourth quarter, up from $ 3 billion, or $ 1,969 per Class A share, a year earlier. Book value of Buffett's favorite targets for mapping enterprise performance - vs., for example, quarterly net income, which he lambastes in its new annual letter - rose in the last three months of 2010 to 157.300.000.000 $, from $ 149.7 billion at Sept. 30 A central aspect of Buffett's optimism about the U.S. economy is bound to Berkshire's spending plans and continued his aggressive attitude toward mega-acquisitions.Buffett writes in the annual letter, "Last year -- in the face of widespread pessimism about our economy -- we demonstrated our enthusiasm for capital investment at Berkshire by spending $6 billion on property and equipment. Of this amount, $5.4 billion -- or 90% of the total -- was spent in the United States. ... In 2011, we will set a new record for capital spending -- $8 billion -- and spend all of the $2 billion increase in the United States. Money will always flow toward opportunity, and there is an abundance of that in America."
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