The Globe and Mail reports in its Wednesday edition that one of the most important takeaways from legendary investor Warren Buffett is his long-held belief that bad news can offer good buying opportunities. The Globe's David Berman writes that Mr. Buffett, 95, is just days away from retiring as chief executive officer of Berkshire Hathaway. This is a big deal. Mr. Buffett has been a source of inspiration for decades. Investors will no longer have new annual letters to read and savour for their folksy wisdom. No more pilgrimages to Omaha, where Mr. Buffett would preside over Berkshire annual meetings. And no more scrutinizing Berkshire Hathaway's equity holdings for new insights into what Mr. Buffett has been buying or selling. We should not despair. For one, Mr. Buffett's wisdom lives on, and will probably never get stale. His annual letters, going back to 1977, are readily available on Berkshire Hathaway's website. There are also books, including Alice Schroeder's The Snowball: Warren Buffett and the Business of Life. Berkshire Hathaway remains a fascinating company that is currently sitting on more than $380-billion (U.S.) in cash. That may be a sign of caution about today's stretched valuations.