Warren Buffett’s investment strategy emphasizes long-term value, even for stocks that occasionally underperform, like Occidental Petroleum (OXY), which has outperformed the market only three times in the past decade. Despite this, Buffett maintains a substantial stake in the company, seeing long-term growth potential. Recent acquisitions, including CrownRock, aim to enhance Occidental’s free cash flow by over $1 billion annually by 2026, aided by high-margin production and diversification beyond oil and gas. Additionally, the company is focused on innovative carbon capture technologies, further solidifying Buffett’s confidence in its future growth and stability.