It marks the end of an era for corporate America. Warren Buffett, the 95-year-old “Oracle of Omaha,” has written what may be his final annual letter to Berkshire Hathaway shareholders which is a message filled with gratitude, humility, and quiet reflection.
After nearly six decades of penning what investors often called “the gospel of value investing”, Buffett announced that he will no longer write Berkshire’s annual reports or address the company’s shareholders at length.
“I will no longer be writing Berkshire’s annual report or talking endlessly at the annual meeting,” Buffett wrote. “As the British would say, I’m going quiet.”
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According to The Times of India (TOI), Buffett said he will now communicate through shorter Thanksgiving notes which is a more personal way, he believes, to stay connected with what he calls “a very special group who are unusually generous in sharing their gains with others.”
A farewell steeped in gratitude
Buffett’s final letter, published this week, reads less like a corporate document and more like a gentle goodbye. “I was late in becoming old,” he wrote, “but once it appears, it is not to be denied.”
Still, he added with characteristic humour that he continues to go to the office daily, even if “slowly” and with “increasing difficulty in reading.”
Looking back at his long life, Buffett expressed deep gratitude. “I am grateful and surprised by my luck in being alive at 95,” he wrote. “Wow! Thank you, Lady Luck.”
He also paid a tribute to his late friend and business partner, Charlie Munger, describing him as “a protective big brother” and “a better teacher.” Their partnership as he said, defined Berkshire’s spirit of honesty, rationality, and restraint, which are the virtues that built one of the world’s most trusted conglomerates.
Greg Abel steps in as Buffett remains chairman
Confirming the long-expected succession, Buffett announced that his long-time deputy, Greg Abel, will now take over as chief executive officer at the end of the year.
“Greg will become the boss at year-end,” Buffett wrote. “He is a great manager, a tireless worker, and an honest communicator.”
As reported by AFP, Buffett will remain as chairman and retain his Class A shares, which carry 10,000 times the voting power of Class B shares, until investors are “comfortable” under Abel’s leadership. He added that his family and Berkshire’s board are “100 per cent behind Greg.”
A tradition that shaped generations of investors
Through stories of See’s Candies, Coca-Cola, and Geico, Buffett taught millions how to think long-term and remain calm amid market euphoria or panic. Analysts often described his letters as “a masterclass in clarity,” and business schools the world over used them as case studies.
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As AP noted, Buffett did not end without a warning. “In aggregate, Berkshire’s businesses have moderately better-than-average prospects,” he wrote, “but a decade or two from now, there will be many companies that have done better; our size takes its toll.”
Buffett ends his last letter as he lived his life, without fanfare. His quiet sign-off, “Going quiet,” may well define the next phase of his journey. But the legacy he leaves behind with six decades of letters that bridged Main Street and Wall Street will continue to guide generations of investors who never met him but learned from his words.
