In his annual letter to shareholders in February, Buffett warned that the new reporting rule would produce some "truly wild and capricious swings." He also noted that "gyrations of that magnitude will swamp the truly important numbers that describe our performance."
In a statement accompanying today's earnings report, Buffett, the firm's chairman and CEO, urged investors to focus on Berkshire's operating businesses and not earnings results based on fluctuations in its nearly $173 billion stock portfolio. He says the stock portfolio can see fluctuations of up to $10 billion in any given quarter.
Focus on operating business i.e operating income and not volatility in investment value.
Warren Buffer is business owner investor while most of us are retail investor as either employee or self-employed owning a job.
Business owner can focus on operating income or business and can ignore paper losses without feeling very bad!
How about us? ......