I recently stumbled upon an interview with the legend from 1988 where he talks about patience in the stock market and why many people have a hard time following his strategy even though there are some secrets. On the contrary, Buffett has been incredibly open with his thinking throughout the years and has always been like an open book.

Another thing that is brought up in the clip is the difference between the stock market and the actual company. To this day, Warren says that the stock market could just as easily shut down for a long time and that he wouldn’t care. The companies he invests in will not shut down their operations just because the shares cannot be bought/sold. They will continue to strive to achieve profits that outperform the past year and continue to be a better company today than they were yesterday.

Nothing really differentiates his mindset now from then. All that has happened is that he has proven himself right once again!

Buffett recently announced his own retirement and that his successor will be Greg Abel. Buffett has, however, mentioned how his own energy level has dropped while Greg’s has only increased. Interestingly, Greg himself is 62 years old, an age where most people think about the happy days of retirement.

Now that Warren has reached the age of 94, we can only tip our hats to his enormous accomplishments. Over six decades, he has built Berkshire Hathaway to now be the eighth largest company by market capitalization.