Warren Buffett is the ultimate buy-and-hold investor and his wisdom has served investors well for almost six decades.
His company, Berkshire Hathaway, generated more than $276 billion dollars in 2021 and is the leading insurance company in the world.
Barely a month ago, Berkshire Hathaway (BRK.A) (BRK.B) reported its operating profit increased by 20% during the third quarter, while buybacks were limited to $1.1 billion, below its 2021 level.
Apple (AAPL) remains its top stock holding, followed by Bank of America (BAC), with oil giant Chevron (CVX) as the third largest holding in its portfolio of stocks. The conglomerate's operating profit increased to $7.8 billion after taxes, beating Wall Street expectations. The increase was the result of a gain in income from its investments as Berkshire made the right bets on higher short-term interest rates from its $109 billion of cash and equivalents.
Known as one of the savviest dividend-focused companies in Wall Street history, Buffett's Berkshire Hathaway received $800 million in dividends from one company alone in 2021--Apple. Ironically, Berkshire Hathaway does not pay a dividend to its shareholders.
Buffett is also a trailblazer on the work-life balance front. Despite running one of the largest companies in the world (He’s been the CEO at Berkshire since 1964), Buffett does not send emails, does not check social media, and doesn’t own a mansion or a fleet of luxury vehicles.
All he does is pick stocks, and when he does so, seemingly everyone wants to hear about it.
That’s the case this year, as well.
Paul Morigi/Getty Images for Fortune/Time Inc
Top 2022 Quotes from Warren Buffett
Here are some of Warren Buffett’s top quotes in 2022.
“You don’t hear that kind of welcome for index funds.” – Upon receiving a standing ovation at the 2022 Berkshire Hathaway shareholder meeting.
“The two of us are 190 years old,” – On the combined age of Buffett, 91, and right-hand man Charlie Munger, 98.
“We will always have a lot of cash on hand.” – On Berkshire’s famously cautious investment philosophy.
“As usual, Charlie has given the full answer, but I’ll still talk more and say less.” – On Berkshire’s decision to avoid T-Bills recently.
“Imagine you owned a farm and had 640 acres, farmed it every year, made a little money on it, enjoyed farming, and somehow 20 years later it turned into 1,100 or 1,200 acres. “If you do it at the right price, there’s nothing better than buying back part of your own business.” – On the advantages of stock buyback programs.
“Sometimes markets do crazy things. That’s good for Berkshire, not because we’re smart…but because we’re sane.” – On “crazy” investment strategies like options trading and high-frequency trading.
“Inflation swindles almost everybody. (But) the best protection against inflation is your own personal earning power…No one can take your talent away from you. If you do something valuable and good for society, it doesn’t matter what the U.S. dollar does.” - On talent.
“I don’t put my citizenship in a blind trust when I take the job as CEO of Berkshire. But I’ve also learned that you can make a whole lot more people sustainably mad, than temporarily happy, on a variety of subjects.” – On why he avoids politics.
‘Obviously, we haven’t the faintest idea what the stock market’s going to do when it opens on Monday. Charlie and I, in all the time we’ve worked together, we’ve never made a decision on buying or selling based on what the market’s going to do. – On his stock market investment philosophy.
