Buffett on Retirement, Investing

“Be fearful when others are greedy and greedy when others are fearful,” are the words of wisdom from Warren Buffett. 

There’s just one small catch—it may be the most difficult thing for an investor to do.

Over six decades, Warren has learned to look past gloomy headlines and focus on a brighter tomorrow. He wants all investors to consider the stock market's long-term history and not let emotions guide their short-term thinking.

But it’s so difficult.

Warren Buffett, 94, said in early May he will ask the board of directors to have Greg Abel replace him as CEO at the end of 2025. Buffett, who plans to stay on as Chairman of the Board, told shareholders he might “hang around” to help.

Today’s chart shows that only 46 percent of investors see stock prices higher in the next 12 months. 

And who can blame them? There are so many things to worry about these days, which leads me to another one of my favorite Wall Street quotes: " Stocks climb a wall of worry." This quote suggests that investors should maintain their discipline even when there are a ton of reasons to believe the market will fall.

No one can tell you where stock prices will be in a year, two years, or five years. 

But remember, there’s no shortage of quotes about keeping your cool during periods of volatility from seasoned Wall Street pros, including,  “I would tell [investors], don't watch the market closely.” That’s also from Warren. He said it in 2016. (In case you were wondering, he said the “be greedy, be fearful” quote in 2008.)

So different year, same message. Don’t watch too closely. You’ll be missed, Warren!

^{University of Michigan, April 2025. CHART 20: PROBABILITY OF AN INCREASE IN STOCK MARKET PRICES IN THE NEXT YEAR}

^{CNBC.com, May 17, 2022. Warren Buffett, Jack Bogle and financial planners agree: When stocks are down, ‘don’t watch the market closely’}

^{CNBC.com, May 3, 2025. End of an era: Warren Buffett will ask Berkshire board to replace him as CEO with Greg Abel}