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“I like to buy stock in businesses that are so wonderful, an idiot can run them—because sooner or later one will,” Warren Buffett famously said. More than anything, the famous investor liked to wait patiently for the right moment to buy great American companies. Though his fellow Democrats often seem intent on divorcing themselves from the private economy that makes this country go, he has remained a highly informed believer in the power of U.S. markets and this wise approach has enriched millions. Gareth Vipers and
Krystal Hur report for the Journal: Warren Buffett stepped down as chairman of Berkshire Hathaway… the final phase of a succession plan that has brought the $1 trillion conglomerate into a new era… In his final shareholder letter as CEO in November, Buffett referenced his age as a factor in stepping back. “When balance, sight, hearing and memory are all on a persistently downward slope, you know Father Time is in the
neighborhood,” he said. It’s been an amazing run. From 1965 through 2024, when he was running Berkshire Hathaway, shareholders enjoyed a compounded annual gain nearly double that of the S&P 500. In a 2025 letter to shareholders that arrived along with the last Berkshire annual report of his tenure as CEO, he noted the importance of humility and responsibility in management. Some might call it a humblebrag, but CEOs should consider emulating it:
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