OMAHA, Neb. (AP) — Billionaire Warren Buffett wants Americans to be optimistic about America's future but wary about borrowing money and the games public companies play with profit numbers they report.
Buffett said in his annual letter to Berkshire Hathaway shareholders Saturday that he still believes America's best days are ahead.
Buffett has detailed his company's 2010 performance in the letter and has devoted part of his message to educating investors on key business principles.
Buffett says the financial crisis of 2008 confirmed the dangers of investing with borrowed money because even a short absence of credit can ruin a company.
Buffett also urged investors not to focus on the net income figures companies report because they are easily manipulated through accounting tricks or by selling investments.
© Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.