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Good News Update: Nouriel Roubini Versus Warren Buffett

Nouriel Roubini (aka Dr. Doom) continues to have a gloomy outlook on the U.S. economy. Warren Buffett's purchase of Burlington Northern Santa Fe Corp. shows his faith in the economy's long-term health. Which one is right? I would say Buffett, especially given some of the good news occurring in our economy. Consider the following:
Despite the good news happening in the economy (and the favorable reaction we're seeing from the markets), Roubini has continuously had an unpleasant forecast for the economy. On the other hand, Buffett made it a point to demonstrate his faith in the economy when he announced his purchase of the railroad, saying "If you buy a railroad, you can't move it to China or to India or anyplace else. You are betting on the United States. I can't think of a surer bet."

For all those who believe "the sky is falling," I suggest you ask yourself whether it seems more logical to take your advice from Roubini (or any other economist or market forecaster for that matter) or the man with perhaps the greatest long-term track record of success?