At Berkshire Hathaway’s shareholder meeting last Saturday, May 1, in Omaha, Nebraska, billionaire investor Warren Buffett repeated his famous mantra that “One of the surest ways to protect against inflation is to upgrade your skills and strive to become the best in your field.”

It is useful skills, not currency, that Buffett believes is the defense against inflation.

“If you have a skill that is in demand, it will remain in demand no matter how much the dollar is worth,” said the famous investor.

After years of claiming that high valuations were negating his stock-buying efforts, Berkshire Corporation has again made net purchases of about $41 billion, including increasing its stake in Chevron, which has pushed investments in Berkshire’s 4 largest blocks of common stock.

Buffett also said his company now owns an increased 9.5% stake in Activision Blizzard, having made a bet on the video game maker in the wake of its acquisition by Microsoft Corp.

Berkshire’s huge stake in Occidental common stock was one of the largest acquisitions announced in the first quarter, topping the $10 billion Berkshire had already invested in the oil producer several years ago. Buffett noted that his investment has materialized quickly.

Other topics discussed at the May 1 meeting included market conditions, nuclear weapons and even bitcoin. Buffett and his longtime business partner Charlie Mangel were joined by two other key figures, Greg Abel and Ajit Jain. Last year, Abel was officially confirmed as Berkshire’s next CEO.

Maintaining your investment strategy despite high inflation is some of Buffett’s best advice, similar to what he gave in 2009 at the end of the recession when he said: “The best thing you can do is invest in yourself.”

Recall Buffett’s third piece of advice as well: the best thing you can do is invest in a reportable business that produces products that are in demand regardless of the dollar.

He cited Coca-Cola as an example, saying that people will still want to buy their favorite soft drink even decades from now, and inflation won’t affect their decision.

“No matter what happens to price levels, people will continue to pay for the products they like,” Buffett said.