Stage 1 prostate cancer isn't very serious. In fact, if you're old enough (and Buffett is), doctors sometimes recommend leaving it untreated. The treatment can be more of a hassle than the cancer.
My understanding is that nearly all men will eventually develop it - if they are fortunate enough to live that long. Then it can take another 10 - 15 years before it becomes a threat.
That said, my father had it and decided to deal with the problem via radiation therapy. Ten years later, he's happy he did. Knowing that you harbor cancerous cells has got to play hell with a person's psyche.
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