End of an Era: 3 Investment Lessons from Warren Buffett That Every Investor Should Follow
Warren Buffett is stepping down as chairman of Berkshire Hathaway.
Overview
The Warren Buffett era at Berkshire Hathaway (NYSE: BRKA) (NYSE: BRKB) has officially come to a close. After relinquishing the CEO spot at the start of the year, Buffett has also decided to step down as chairman. His son, Howard Buffett, who has been a director of the insurance conglomerate since 1993, will take over as chairman.
Nicknamed the Oracle of Omaha, Buffett is regarded as one of the world's top investors. Let's look at three lessons investors can take from him and apply to their investing strategy.
Details
Despite being a great stock picker, Buffett is also a big fan of index investing. In fact, in 2007, he famously issued an open challenge that an investment in an S&P 500 (SNPINDEX: ^GSPC) index fund would beat a group of handpicked hedge funds over the next decade. Ted Seides of Protégé Partners took the $1 million bet, investing in five funds-of-funds, which are funds that invest in other funds.
Source
Originally published at www.fool.com.