Happens to the Best of Us in Markets Like This

Bloomberg ran a story on Friday about Berkshire Hathaway losing 32% last year, its worst performance in more than three decades. Most of the drop happened in the last three months, which will sound familiar to most everyone in stocks (or stock mutual funds) at the time.

But you-know-who is surely taking the long view:

The stock plunge “doesn’t make any difference,” Buffett told Fox Business Network Nov. 21.

“It’s happened to me three other times,” Buffett said. “It happened when it went from 90 to 40 back in 1974, and it happened in 1987. It went down 50 percent in 1998-to-2000. I mean, I hope I live long enough so it happens a couple more times.”

I hope we all do.