5 Stocks with 'Global Reach': Strategist

Warren Buffett announced that Berkshire Hathaway is going to acquire Burlington Northern in a $44 billion deal and said he is “betting on America.” Is it really the right time to bet on U.S. companies? Thomas Russo, partner at Gardner, Russo & Gardner, shared his insights.

“I think it’s less about the immediate economy and about the current result, but the opportunity to put into the Berkshire portfolio forever one of the great treasures,” said Russo.

Burlington "will profit Berkshire shareholders for a long time to come and [Buffett] is able to buy it at a time when the problem that normally confronts Berkshire—that others try to outbid him—won’t necessarily happen.”

Russo said investors should be looking into businesses that have “global reach.” He recommended the following companies.

Russo’s Picks:

Altria

Berkshire Hathaway

Comcast

Brown-Forman

Wells Fargo

And Don't Miss:

David Pearl of Epoch Investment Partners shared his best "Betting on America" stock plays. Click to see his recommendations.

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What Experts Say About Berkshire's Acquisition:

• Pisani: More on Buffett and Railroads
• 'Fast Money' Blog: Buffett's Next 'Big Elephant'?
• What Buffett's BNI Buy May Mean for Other Rail Stocks

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CNBC Data Pages:

• Dow 30 Stocks—In Real Time
• Oil, Gold, Natural Gas Prices Now
• Where's the US Dollar Today?

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CNBC Slideshows:

• Berkshire Hathaway's Biggest Holdings

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Disclosures:

Russo owns shares of WFC, CMCSA, MO, BRK.A, and BFA.

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Disclaimer