In his latest article for Canada’s Globe and Mail, Validea CEO John Reese delves into Warren Buffett’s annual letter, and takes a look at some Buffett-type picks he’s finding in the current market.

“Warren Buffett believes in the U.S. economy — and he just spent $9-billion (U.S.) to prove it,” writes Reese. “His acquisition this week of Lubrizol Corp., an Ohio-based maker of industrial lubricants, reflects his bullishness on U.S. stocks, despite the country’s current budget woes and high unemployment. ‘Throughout my lifetime, politicians and pundits have constantly moaned about terrifying problems facing America,’ Mr. Buffett wrote in his annual letter to shareholders of Berkshire Hathaway Inc. ‘Yet our citizens now live an astonishing six times better than when I was born.'”

Reese examines a few of the biggest holdings in Buffett’s Berkshire Hathaway portfolio, and also looks at stocks that have qualities Buffett praised in his letter — namely low debt. Among the Buffett-type bargains: medical device maker Varian Medical Systems. To read the full article, click here.