Warren Buffett turns 93! What did 2023 bring in for The Oracle of Omaha?
Warren Buffett turned 93 today. Many money managers, be it on Wall Street or Dalal Street, have been big fans of his investing style and would have even mimicked it at some point.
The year 2023 hasn’t been as rude as 2022 probably was, as US equities made a strong comeback and propelled Buffett’s portfolio.
The tech-heavy Nasdaq Composite index has gained a whopping 33% on a year-to-date basis.
While a majority of Buffett’s investments have been in equities, for his firm Berkshire Hathaway, cash always remains the 'King'.
In his annual letter to stakeholders earlier this year, Buffett said that Berkshire will always hold a boatload of cash and US Treasury bills while avoiding such investment decisions that could result in any uncomfortable cash levels at inconvenient times.
Investment Mantras
Popularly called 'The Oracle of Omaha' for his impressive investing prowess, Buffett believes in acquiring stocks of companies that are trading at a discount to their intrinsic value.
“The best time to invest in the market is when other investors are very fearful,” he says.
Giving precedence to quality over price is another key investment strategy followed by Buffett and his firm.
According to him, it is better to buy a good company at a fair price, rather than a fair company at an attractive price.
Think big and think long-term is Buffett’s rule of investment. He is a strong believer that good businesses earn higher returns and increase in value over time, which is why buying and holding stocks for a longer period of time is critical for better returns.
Long-term investment needs patience and Buffett says it’s the only way to make great money in the market.
The world is full of foolish gamblers, and they will not do as well as the
