Billionaire investor Warren Buffett turned 96 on 30 August, yet despite ‘retiring’, he still seems very involved with Berkshire Hathaway.

Greg Abel officially took over as CEO at the start of this year, but Buffett’s remarkable tenure will not be forgotten. Having helped build one of the most successful investment firms in history, his name has become synonymous with wealth generation.

But today’s markets look very different from those that shaped his career. So do his lessons still apply for UK investors in 2026?

Timeless investing principles

I think they do. Buffett’s edge isn’t timing, it’s time. He thinks in decades, not days. That mindset helps him ignore short-term noise to focus on durable business value.

One of his key lessons is to think like an owner when buying stocks. Essentially, ask yourself: would you happily own the entire company for 10 years or more?

Probably his most famous line — “be fearful when others are greedy, and greedy when others are fearful” — captures a contrarian approach grounded in understanding valuation.

These principles don’t age. Whether targeting growth or income, they encourage patience, discipline, and a focus on ownership rather than trading.

Buffett’s recent involvement in Berkshire’s move into Alphabet also suggests he’s embracing modern businesses – but only those he believes have lasting strengths, not just hype.

So how can investors put that approach into practice when picking shares today?

A UK example

One UK stock I think fits Buffett’s criteria surprisingly well is Games Workshop (LSE: GAW). The company owns the entire Warhammer universe: intellectual property, rules, miniatures and branding. That’s a distinctive asset, with no direct competitor able to sell an equivalent product range.

It creates a wide moat because fans spend years building and painting collections, investing substantially and therefore less likely to switch. Loyal fans also appear willing to pay premium prices, which gives the business pricing power.

Recent results reveal revenue of £659.7m for the year to 1 June 2025 lifted 10.9%, while profit before tax rose to £275.7m. Meanwhile, a total dividend of 325p per share was declared for the financial year.

However, quality alone doesn’t guarantee a good investment. Games Workshop’s shares currently trade on a lofty valuation, so to justify the price, it must keep innovating or risk losing buyers.

It also faces concentration risk. Warhammer is a powerful franchise, but it remains a relatively focused business. If consumer tastes shift away from this style of collectables and gaming, it doesn’t have particularly diversified revenue streams to fall back on.

That doesn’t invalidate the Buffett case, but simply reinforces another important lesson: know the risks as well as the strengths.

The key takeaway

Buffett’s real lesson is not a list of stocks, but a mindset: patience, discipline, humility and a focus on long-term ownership.

Investors don’t need to replicate his portfolio to benefit from his approach – simply absorb the lessons and then carve your own path to financial freedom.

Games Workshop is just one example of a growth stock to consider, but remember, diversification’s key. With that in mind, I’ve been eyeing up another stock with a different appeal: passive income.

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Mark Hartley does not hold any positions in the companies mentioned.