Why Warren Buffett Says Stocks Aren't What He's Really Buying - Berkshire Hathaway Inc. 41 % Legendary investor Warren Buffett stepped down as the CEO of conglomerate Berkshire Hathaway Inc (NYSE: BRK ) (NYSE: BRK ) on Wednesday after decades leading the company. Fascinated with stocks at a young age, Buffett credits a book with changing one of his investing philosophies. The First Trade: Lessons from 1942 What Happened: The former Berkshire Hathaway CEO bought three shares of Cities Service preferred at the age of 11. The legendary investor told Charlie Rose in an April 2022 interview that he spent every penny he had saved on the investment, which came after researching American companies. “I knew more when I was 11 than I know now,” Buffett said, laughing. Despite being 92 years old, Buffett recalls perfectly that he spent $114. How ‘The Intelligent Investor’ Changed Buffett's Strategy Buffett later read “The Intelligent Investor” by Benjamin Graham and said it changed his thoughts o...