Warren Buffett says economy has bottomed out


The U.S. economy got another vote of confidence of sorts Wednesday after Warren Buffett, among the nation's most admired investors, told CNBC that while the economy hasn't improved much, it also "hasn't gotten any worse." Further, he told the cable news network he doesn't expect a double-dip recession and see signs of an improving residential real-estate market.

Barring some horrible event such as the attacks of Sept. 11, 2001, "or worse," he said, the economy has bottomed out. "We're past the critical point," said Buffett, CEO of Berkshire Hathaway (BRK.B) and its largest shareholder.