Warren Buffett has spoken about his priorities and concerns, and they are not related to the success of his company. During an interview on CNBC’s “Squawk Box,” the 92-year-old billionaire investor and CEO of Berkshire Hathaway made it clear that he doesn’t worry about the trajectory of Berkshire Hathaway amidst current economic headwinds. Instead, he focuses on more significant issues, such as nuclear threats and pandemics.
“At 92, I’ve got other things to worry about ... I worry about the nuclear threat. I worry about a pandemic in the future…” Buffett told CNBC. “I never go to bed worried about Berkshire and how we’ll handle a thing.”
Buffett has a history of optimism, which close friends attribute to his success. In his annual letters to Berkshire’s shareholders, there is a surplus of positivity, and it shows in his investment strategies. He encourages investors to choose investments they believe in, regardless of their current price, and take advantage of stock drops to buy more of the companies they trust.
His optimism is rooted in his supreme sense of self-confidence, with 99% of his net worth invested in Berkshire Hathaway. Buffett is confident in his ability to manage risk and trusts the leaders at Berkshire’s portfolio companies to make the right business decisions. He has already handpicked his successor, Greg Abel, and expects him to follow his winning formula.
When Buffett encounters scary issues outside of his control, such as nuclear wars or pandemics, he tries to mitigate his stress by focusing on situations and tasks that he can remedy himself. Buffett believes that anything that can be solved should be thought about, but he also acknowledges that he cannot solve everything.
Buffett’s focus on larger issues and confidence in his ability to manage risk has allowed him to maintain a positive outlook for Berkshire Hathaway’s future. Although he recognizes that there are things outside of his control, he is optimistic about the company’s leadership under Greg Abel. Buffett is not giving Abel specific instructions but trusts him to make the right decisions for the company.
