Buffett says he was 'dead wrong' on housing market

FILE - In this May 2, 2011 file photo, Warren Buffett, Chairman and CEO of Berkshire Hathaway gestures during an interview, in Omaha, Neb. (AP Photo/Nati Harnik)

February 25, 2012 6:09:06 AM PST
Billionaire investor Warren Buffett admits he was "dead wrong" with his prediction that the U.S. housing market would begin to recover by now, but he remains optimistic about the nation's economy.