Warren Buffett lost $25 billion from his net wealth last year, according to Forbes magazine. Losing that much money might put a dent in the household budget for someone like you or me, but it really wasn't all that significant for the Oracle of Omaha. Consider that his investment vehicle, Berkshire Hathaway, had some $44 billion in cash lying around at the beginning of last year, waiting to be invested.
Buffett held his annual shareholders' meeting for Berkshire Hathaway's investors earlier this month in Omaha. As always, he took some hard-earned wisdom and offered it up in a way that made it seem both obvious and profound. Some sample quotes from this year's performance:
“If you need to use a computer or a calculator to make the calculation, you shouldn’t buy it.”
“Leverage is what causes people real trouble in this world. You don’t want to be in a position where someone can pull the rug out from under you or, emotionally, where you pull it out from under yourself.”
“If you have a 150 I.Q., sell 30 points to someone else. You need to be smart, but not a genius.”
"Stocks go up and down; there were three times before when Berkshire shares went down more than 50 percent. This country will do wonderfully over time; it always has."
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