Buy American

Buffett bets on a U.S. rebound

Most Americans may feel down about the economy. But not Warren Buffett. His company, Berkshire Hathaway, invested nearly $24 billion in U.S. firms in the third quarter, its biggest three-month buying spree in 15 years. Buffett bought 4.4% of IBM for $10.7 billion. Another addition was chemical maker Lubrizol. Buffett has long favored safe consumer-products companies such as Coke and Dairy Queen, so by investing in an industrial company and a tech giant, the Oracle of Omaha moved out of his comfort zone--something he rarely does unless he's figured something out. The message seems to be: Don't give up on U.S....

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