Warren Buffett has shared insights on investment strategies, emphasizing the importance of understanding the businesses one invests in. He advises against relying on public opinion polls for investment decisions, stating, "A public opinion poll will not get you rich on Wall Street. You really want to stick with businesses that you feel you can evaluate yourself." Buffett also highlights the need to comprehend the long-term economics of a business, not just its products, saying, "I have an old-fashioned belief that I only should expect to make money in things that I understand. I don't mean understand what the product does. I mean understand what the economics of the business are likely to look like ten years from now." In 2024, Buffett's major investments through Berkshire Hathaway included significant stakes in Apple (26.24%), American Express (15.44%), and Bank of America (11.88%), according to a report by Dataroma. His investment approach continues to focus on companies he believes he can thoroughly evaluate. Berkshire Hathaway has been outperforming the Magnificent 7 since the start of 2024. Buffett's investment philosophy extends to his critique of valuation methods, warning against over-reliance on formulas and spreadsheets. He notes, "Valuation of a business is not reducible to any formula where you can actually put in the variables perfectly." On another note, the S&P 500 marked the 25th anniversary of its peak during the dot-com bubble on March 24, 2000. The index experienced a significant drawdown, falling 25% over the next year and reaching a low of 49% by October 2022. Since that peak, the S&P 500 has risen by 271%. A strategy related to the S&P 500 has been outperforming its benchmark by +9% in 2025. Echoes of the dot-com era are seen in the current performance of AI stocks.