“The 19th century belonged to England, the 20th century belonged to the U.S., and the 21st century belongs to China. Invest accordingly.”

According to Forbes business magazine, Bill Gates has been replaced as the richest man in the world by the American investor Warren Buffett.

Berkshire Hathaway Inc. (BRK-A) reported fourth quarter net earnings of $2.947 billion, compared to $3.583 billion in the same quarter of last year.

Magic happens on Wall Street when Warren Buffett decides to buy a stock. A few weeks ago the day Buffett made the buy on shares of Burlington Northern Santa Fe the stock popped $5.36 to $88.08 as investors celebrated the fact Buffet's company Berkshire Hathaway would own almost 40 million shares. But the pop was not over. As more small investors rushed into the market, the stock rose to $91.83.