People who make a little money in a bull market can turn every sentence into a comedy sketch.

But Warren Buffett is different. This old man spent a full 60 years, crossing countless economic crises, bubble bursts, and market crashes, to turn a nearly bankrupt textile factory into today’s Berkshire Hathaway, valued at trillions of dollars.

From 1965 to now, Berkshire’s annualized compound interest has exceeded 20%, while the S&P 500 over the same period is only about half of that. This is not some stroke of luck in a market rally, but a long-term correctness spanning more than half a century.

Unlike those trading legends, he never swings wildly, nor does he become a god through one or two big gambles. Instead, he spends his entire life steadfastly holding to his beliefs, ultimately smiling at the bottom. I think this is the kind of life template worth learning from.

**First Lesson at Age 11**

At age 11, Buffett walked into a securities firm and bought his first stock—Cities Service Preferred, three shares, costing a total of $114.75.

When the stock price dropped, he couldn’t sit still, squatting by the radio to check quotes. He endured, and when the price finally returned to his buy-in point, he immediately sold, feeling relieved, even thinking he had made a profit—at least not a loss.

A few days later, that stock soared all the way up.

That moment probably taught him the most profound lesson in over half a century—the regret of rushing to sell is far more painful than losing money.