Billionaire Warren Buffett says ‘American magic’ will spur US economic recovery

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Warren Buffett, CEO of Berkshire Hathaway. Photo: AFP Billionaire investor Warren Buffet says he is confident the US economy will bounce back from its pummeling by the coronavirus pandemic because “American magic has always prevailed.” The 89-year-old made the sanguine prediction about the world’s largest economy as his holding company Berkshire Hathaway reported first-quarter net losses of nearly $50 billion.

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