Warren Buffett has often said to never bet against the American economy. American Express is one of Berkshire Hathaway's largest investment positions. Bank of America is a banking giant with durable earnings power.

Founded in 1993, The Motley Fool is a financial services company dedicated to making the world smarter, happier, and richer. The Motley Fool reaches millions of people every month through our premium investing solutions, free guidance and market analysis on Fool.com, top-rated podcasts, and non-profit The Motley Fool Foundation.

Famed investor Warren Buffett is donating $6 billion worth of his company's stock to five foundations, bringing the total he has given to them since 2006 to roughly $60 billion, based on their value when received.