Most of us know the name Warren Buffett. Some call him the “Oracle of Omaha”, others just see him as the grandad of investing. But this softly-spoken man from Nebraska turned a failing textile company into a multi-billion-dollar powerhouse.

And he didn’t do it by chasing the hottest tech stock or timing the market. No. He did it by keeping things simple. Almost boringly simple.

So if you’re investing on your own in the UK – whether you’re dabbling with ISAs or building a long-term portfolio – there’s a lot to pick up from how Buffett played the game.

In our new series, where Questa profiles the world’s greatest investors, let’s take a closer look at the 5 steps that made Warren great, with lessons from the man himself.

• Warren Buffett Picked a Strategy … and Stuck With It

Buffett is famous for his “buy and hold” style. Sounds basic, right? That’s the point. While most investors panic when markets wobble or try to cash in quickly, Buffett does the exact opposite.

He buys businesses he actually understands, at decent prices, and then … he waits. For years. Decades, even.

Take Coca-Cola. He started buying shares in 1988. Why? Because it was (and still is) a company with a strong brand, simple business model, and global reach. He didn’t care if it was trendy. He just saw long-term value. Fast forward a few decades, and that one investment has paid out billions in dividends and growth. No drama, no panic-selling – just pure patience.

Better still? By holding the stock, he enjoys the massive power of compound interest; arguably Warren’s biggest secret power.

• Warren Buffett Doesn’t Touch What He Doesn’t Understand

Here’s a bit of Buffett wisdom that’s painfully underrated: only invest in what you actually understand. He’s never been big on tech (apart from Apple, which he calls more of a consumer brand than a tech company). He’s not chasing crypto or biotech or anything that needs a PhD to explain.

He once said,

“Risk comes from not knowing what you’re doing.”

And honestly, he’s not wrong. A lot of DIY investors get stung by piling into industries they barely understand because someone on Reddit said it was the next big thing.

If you wouldn’t be able to explain how a company makes money to a mate over a pint, maybe don’t bet your savings on it.

• Warren Buffett Keeps Cash – And Waits for His Moment

One of Buffett’s sneakiest moves? He’s always sitting on a big pile of cash. Not because he’s scared of the market, but because he knows opportunities always come, usually when everyone else is panicking.

In 2008, when the financial world was losing its head, Buffett stepped in and made some of the most profitable deals of his life. He could do that because he wasn’t fully invested all the time. He had the funds ready to pounce. For regular investors, this just means keeping a bit aside. Not everything has to be in stocks. Cash gives you options.

• Warren Buffett Doesn’t Obsess Over Fees

Buffett’s also famously cheap. Not in a stingy way – just smart. He hates paying unnecessary fees, especially on investments. He’s a big fan of low-cost index funds for most people, because high fees eat into your returns. Over 20 or 30 years, even a 1% difference in fees can add up to thousands.

He once even bet a hedge fund manager that an index fund would outperform their fancy strategy over ten years. He won.

• Warren Buffett Learned from Mistakes

You’d think someone with a net worth north of £120 billion never makes mistakes. But Buffett’s had his fair share of investment clangers.

• Berkshire Hathaway itself started out as a dodgy investment. It was a struggling textile mill that he bought into because he thought it was undervalued. It was, but the business itself was a not viable. He’s said many times it was one of his biggest errors.
• Then there was Dexter Shoe Company – he bought it using Berkshire shares, and the business went bust. If he’d just held onto those shares instead, they’d be worth billions today.
• More recently, he’s taken heat for his big investment in Occidental Petroleum. Oil prices have plummeted, and Berkshire’s looking at some significant paper losses there.

But here’s the difference: Buffett owns his mistakes. Learns from them. Moves on. There’s no pretending everything went perfectly. That’s a good reminder for anyone investing solo – even the pros get it wrong sometimes.

So What Can UK Investors Actually Learn From This?

Here’s the bit where we connect the dots. If you’re handling your own investments – whether you’re in Leeds, London or Llandudno – what can you take from Buffett’s playbook?

• Stick with businesses you understand – Don’t buy into something just because it’s trending on social media.
• Think long term – Investing is not a get-rich-quick thing. Give your investments time to grow.
• Hold some cash back – It’s boring, but boring is good when everyone else is losing their head.
• Keep your costs low – Those fund fees? They add up. Look at index funds or platforms with lower charges.
• Don’t sweat every mistake – You will make mistakes. That’s part of it. Learn and carry on. Or, consult a financial planner like Questa.

Warren Buffett’s story isn’t about flashy wins or genius-level stock picking. It’s about keeping your head when others don’t, playing the long game, and ignoring the noise. That’s something any UK investor can take on board – no billion-dollar empire needed.