What was Warren Buffett saying in 1985
Warren Buffett feels like he’s been around forever but he was far from a household name until the late 1990s.
His first television interview didn’t take place until 1985, when he was 55-years old. What’s incredible is that he was saying then is consistent to everything he’s said in the 34 years since.
It underscores that trading isn’t about information, it’s about process. It’s his same ‘circle of competence game’ that doesn’t include chasing what’s hot.
“I don’t have to win at every game,” he said. “There are no called strikes in this game, they just keep pitching, you don’t have to swing at any of them.”
Another interesting point for the long-term investor is that he was cautious of excess noise, something that the internet has brought everywhere.
Given all the changes in the world since this interview — and the remarkable outperformance of tech — it’s truly amazing (and telling) that he’s had so much success.