It's his job to be strategic about buying and selling, but Buffett also said he can understand an investor who will make a few good investments and hold on to them forever. That could be the right decision for many investors who don't have Buffett's day job.

Famed investor Warren Buffett is donating $6 billion worth of his company's stock to five foundations, bringing the total he has given to them since 2006 to roughly $60 billion, based on their value when received.