"I think the West is going to do well," Buffett told workers of Burlington Northern during an in-house interview with the railroad's chief executive officer, Matthew Rose. "I'd rather be in the West than the East."
The $26 billion purchase of Fort Worth, Texas-based Burlington Northern is the biggest of Buffett's career, and what he called an "all-in wager" on the U.S. economy. Burlington stands to benefit from an increase in shipments of goods from the U.S.'s Asian trading partners, including China.
"I think I know how the country is going to develop," Buffett, 79, said in the interview, which was posted in a video on Burlington Northern's intranet and distributed yesterday in a regulatory filing as a transcript.