New Delhi, Sept. 19 -- Warren Buffett, one of the world's most closely followed investors, is stepping down as chairman of Berkshire Hathaway after more than five decades at the helm. The 96-year-old billionaire, known for his value-investing philosophy and disciplined approach to wealth creation, will remain a director, while his son Howard Buffett takes over as chairman. His long investing career also offers timeless lessons for investors - think long term, stay disciplined, understand what you own and avoid making decisions based on short-term market noise. Here's a look at a few lessons every investor should learn from Warren Buffett

Buffett's investing approach has always been straightforward: "Buy good businesses when their prices ...