Warren Buffett emphasizes that while achieving success is exciting, effectively correcting mistakes when they occur is equally critical for businesses.

Warren Buffett has cashed in a net $177 billion of stocks because he expects a downturn and plans to capitalize, Wedbush's Paul Dietrich said.

Berkshire Hathaway ( BRK.A -0.05%) ( BRK.B 0.24%) is considered by many to be a reliable stock for long-term investors. It's outperformed the S&P 500 ever since a young Warren Buffett took over the company in 1965, and its evolution from an aging textile maker to a diversified conglomerate churned out millionaire-making gains.

The conglomerate sold Apple shares during the second quarter, though the iPhone maker remains Berkshire’s largest stockholding.

Like Amazon CEO Andy Jassy, keeping a positive attitude helps the Warren Buffett-backed leader stay motivated toward success.

The investment comes as UnitedHealth faces soaring medical costs, federal investigations, the fallout of the killing of a top executive and a cyberattack last year.

Berkshire Hathaway recently filed its second-quarter 13F form, revealing its stock holdings at the end of June.

A hallmark of Berkshire Hathaway is its focus on long-term value investing, a strategy championed by Warren Buffett and his late partner Charlie Munger. The approach has delivered remarkable returns to Berkshire shareholders, with average annual growth far outperforming the broader stock market for decades.