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Fortune
Fortune
Carol J. Loomis

Surprise! Warren Buffett turns out to be more prescient about stocks than politics

Fortune Most Powerful Women Summit 2015 (Credit: Stuart Isett—Fortune Most Powerful Women)

As many millions of people have been reminded recently, Warren Buffett, CEO of Berkshire Hathaway, doesn’t always call them right. He predicted two years ago that Hillary Clinton would both run for the presidency and win, and he never lost faith in that prospect until Election Night.

On this day two weeks later, nonetheless, it is the right time to look at a widely-noted stock market prediction that Buffett made 17 years ago, in 1999, and that is just reaching its terminal point. Here, Buffett was definitely on the correct side of the bet.

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