Buffett shared a piece of similar advice in 2009 at the tail end of the Great Recession when the then-78-year-old said “the best thing to do is invest in yourself.”
Back then, Buffett explained the next best thing a person could do is invest in “a wonderful business” that makes highly demanded products while ignoring the performance of the dollar.
He cited Cola-Cola, arguing that people will still want his favorite soda decades from now, with inflation playing no role in their decision.
“It doesn’t make any difference what’s happened to the price level,” Buffett said, because people will still pay for the products they like.
