Value investment - Person of the week (2)

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Unlike many Wall Street titans, Buffett conducts his business out of Omaha, Neb. And unlike many Wall Street executives, Buffett has remained revered while they have become reviled.

"Warren has distanced himself from Wall Street," Schroeder said. "He hasn't done hostile takeovers, he hasn't set up a leveraged buyout fund, or done venture capital. And for that reason, he has avoided some of the taint that other people have had."

Over the past two weeks Buffett has made huge bets on America. He has poured $5 billion into struggling investment bank Goldman Sachs, and several billion more into iconic American company General Electric, which is, arguably, in worse shape than Goldman. For these companies, Buffett has saved the day. But, like always, he's placed his bets. And he is planning to make some money when this economy turns around.

"I mean, if I got a chance to take one percent of the deal either way, I would take that bet," he told Rose. "It's the kind of stuff I love to do. I just don't have $700 billion."

Buffett's betting on America. And we're betting on Buffett. After all, he's certainly been right in the past.

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