Asked whether he's concerned about the stock swoon, Buffett said "not that much" has changed from his viewpoint in the past five months or so because he's a more aggressive buyer of stocks when the market is going down.
"We're almost always a buyer of stocks," he said. "It's hard to think about many months when we weren't a net buyer of stocks."
Buffett reiterated his mantra that it's "crazy" to time the market. "In 10 or 20 or 30 years, I think stocks will be a lot higher then they are now."
He said buying stocks based on what he buys or what any other big investor buys is not a good investment strategy. "A great strategy is just to buy stocks consistently over a lifetime. And not worry too much if they go up or down on any given month or year," Buffett said.
"It's what I tell me wife to do in my will," he continued. She's going to be 90 percent in an index fund. And 10 percent in governments."
Buffett has long-championed buying index funds instead of actively managed funds.
He lost a little ground in the eighth year of his $1 million 10-year wager that an inexpensive plain stock index fund would outperform high-fee hedge funds. But as Fortune Carol Loomis reported in her annual update, Buffett still has a big lead.
"You'd be better off in stocks if you did not get a quote on them. Quotations cause people to do things they wouldn't otherwise [do]," Buffett told CNBC Monday. "Focusing on the prices and where they're going to do is a terrible way to invest in businesses."
Case in point is one of Buffett's big investments, IBM, which has been underperforming over the past 12 months, losing about 18.5 percent. He told CNBC he doesn't think buying IBM stock was a mistake, but it could turn out to be.