Shares of billionaire Warren Buffett's company have dropped nearly 30 percent over the past two weeks and the Oracle of Omaha says that's fine with him.

Class A shares of Berkshire Hathaway sold for $113,000 apiece before the Omaha company reported a 77 percent drop in this year's third-quarter profit on Nov. 7th.

Just last December, the stock set a new high of $151,650, after an exceptionally profitable third quarter.

Buffett told Fox Business News he's not bothered by the recent decline, because he's seen it before.

Buffett says Berkshire's stock went from $90 to $40 in 1974, and it experienced similar drops in 1987 and in the late 1990s.

Berkshire owns a diverse mix of more than 60 companies, including insurance, furniture, and jewelry, with major investments in such companies as Coca-Cola Co.