Warren Buffett turns 95. Here are 10 investing lessons from his legendary career

Warren Buffett marked his 95th birthday on Saturday, celebrating both a personal milestone and the approaching end of a legendary run at Berkshire Hathaway. After 60 years at the helm, he will step down as chief executive at the year’s end.

The man who took control of a struggling textile company in 1965 and built it into the world’s largest conglomerate, now valued at over $1 trillion with annual after-tax operating earnings of about $45 billion, leaves behind an investing legacy that has shaped generations of shareholders and executives alike.

10 lessons from a long career

Buffett’s track record is studded with principles that investors continue to study and debate. Here are 10 of the most enduring lessons:

1) Don’t overpay for stocks. Buffett rarely buys at more than 15 times forward earnings, a discipline he maintained in high-profile bets like Apple a decade ago and Coca-Cola in the late 1980s.

2) Take profits when needed. While he has long preached “forever” investing, Buffett has trimmed or exited major positions in Apple, Bank of America, JP Morgan Chase, Goldman Sachs, Citigroup, and Paramount Global in recent years. Only Coca-Cola and American Express appear to be true long-term holds.

3) Stick with what you know. His portfolio and wholly owned businesses lean on old-economy staples—insurance, railroads, and utilities—eschewing much of today’s tech-heavy market.

4) Start early. Buffett’s investing journey began at age 12 with a purchase of Cities Services preferred stock in 1942.

5) Learn from great teachers. He studied under value-investing pioneer Ben Graham at Columbia Business School and worked at Graham’s investment firm before going out on his own.

6) Concentrate when conviction is high. At the end of the second quarter, five stocks—American Express, Apple, Bank of America, Coca-Cola, and Chevron—made up nearly 70% of Berkshire’s roughly $300 billion equity portfolio. Buffett himself holds more than 99% of his net worth in Berkshire shares, a stake now valued at about $150 billion.

7) Hire strong managers and trust them. Berkshire has long granted unusual autonomy to the leaders of its subsidiaries, a hallmark of Buffett’s management style.

8) Don’t retire too soon. Turning 65 did not slow him down; Berkshire shares have climbed thirtyfold since then. Buffett has long said traditional retirement isn’t for him or his top executives.

9) Protect shareholders from dilution. Berkshire has avoided issuing stock for acquisitions and never granted stock-based compensation, keeping the share count up only about 40% since 1965.

10) Love what you do. Buffett has famously described his daily routine as “tap dancing to the office,” a passion he plans to maintain as he remains Berkshire’s chairman and continues working daily in 2026.

Staying on at Berkshire

At Berkshire’s annual meeting in May, Buffett told shareholders he plans to remain active in the office beyond the CEO transition. Investors, who have seen Berkshire stock soar under his leadership, are counting on him to stay involved for years to come.

For now, as Buffett turns 95, Berkshire shareholders and admirers are left with both a celebration and a reminder: his lessons, like his legacy, are built for the long haul.

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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)