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Buffett Sees No Recession

Railroad shipments are peaking as the holiday season draws near which could be a sign of an expanding economy according to . This is good news for Warren Buffett’s railroad investment in Burlington Northern.

“Our railroad carried 200,000 carloads last week,” Buffett said Oct. 4 at a Fortune magazine conference in Laguna Niguel, California. “That’s the highest total in three years. And that’s stuff moving around the country, supplying merchants and doing all kinds of things.”

Buffett added: “As of today, the recovery is still under way.”

It’s hard to go against Buffett’s optimistic view on the economy but many people are still sitting on the sidelines as far as stocks are concerned. Where there is fear, there is opportunity.