Buffett says Europe's fiscal problems will linger

OMAHA, Neb. — Billionaire Warren Buffett said Monday that Europe will have a hard time resolving its fiscal problems because of the structure of the European Union and this weekend’s election results in Greece and France. But he says the turmoil in Europe won’t keep him from investing.

Maybe it ultimately proves the wisdom of Buffett’s approach to riches — buying good solid investment vehicles when they’re at prices that represent good value Warren Buffett is once again the world’s third-richest person.

Warren Buffett probably missed his target for the first time in 44 years. Berkshire Hathaway Inc., his US$292 billion company, is poised to report that it failed to increase net worth more rapidly than the Standard & Poor’s 500 Index during the past five years, according to analyst estimates. It would be the first time the billionaire investor fell short of the goal since he took over the Omaha, Nebraska-based company in 1965. He’s been awfully honest . . . He didn’t pick it because it was an easy benchmark