“I will no longer be writing Berkshire’s annual report or talking endlessly at the annual meeting. As the British would say, “I’m ‘going quiet’…”, said Warren Buffett in his final letter to investors. He also added “Greg Abel will become the boss at year end. He is a great manager, a tireless worker and an honest communicator. Wish him an extended tenure.”
And the investment world paused and took stock for a moment. The father figure will no longer be imparting wisdom. Many could have felt lost. While Buffett called it a Thanksgiving message, we would want to call it a blueprint for life, money, relationships and everything that comes along. A love letter to every investor who ever dreamt of building something that lasts beyond a lifetime.
In eight pages dipped in nostalgia, gratitude, and brutal honesty, Buffett did not talk about P/E ratios or quarterly results. He spoke about childhood nuns, a $2 summer job, fingerprinting nurses, and why he still drives the same old Cadillac. He spoke about luck, death, family, and why Greg Abel, not his children, will run Berkshire.
For Indian investors chasing multibagger stocks, IPO frenzy, and 30% CAGR dreams, this letter is a mirror. It hurts. It heals. It changes you. It is a must read!
Here are 5 hard hitting lessons Indian investors must imprint on their hearts and minds before investing the next rupee.
Lesson 1: Thank Your Luck Daily
“I was born in 1930 healthy, reasonably intelligent, white, male and in America. Wow! Thank you, Lady Luck.”
With this one line, Buffett strips away the myth of the self-made billionaire. Out the window!
He reminds us he drew the longest straw at birth. Born in depression-era USA, not war-torn Europe or colonial India. Healthy body, sharp mind, supportive parents, free public schools, and a country that rewarded capital compounding for 80 straight years.
But you and me…
We were born in the fastest-growing large economy on earth. We have UPI, GST, impressive GDP growth, 140 crore consumers, and the internet in 22 languages. We have SEBI, we have AMFI, demat accounts, and zero brokerage apps.
You know what that is? That right there is Lady Luck on steroids.
Yet we curse the market when Nifty corrects 10%. We blame the government when interest rates rise. We forget that our grandfathers fought with British weapons while Buffett’s grandfather sold groceries for $2 a day.
So, before you make the next trade, whisper “Thank you, India.” Keep a small notebook and write three things daily that Lady Luck gifted you. It could be electricity, internet, peace… Whatever you were gifted with. You will stop panic-selling the next time your favourite stock falls 20%.
Lesson 2: Stay Where Your Heart Feels Home
Buffett left New York, a place called the Wall Street Mecca, in just about 18 months. He returned to Omaha, bought a $31,500 house in 1958 (Which by the way he still lives in) and built a $1.2 tn business from a city no one voluntarily wanted to visit.
And he wasn’t alone. He named quite a few childhood friends who lived a few blocks away. Names like his best friend Charlie Munger, Stan Lipsey, Walter Scott, Don Keough… What do they have in common? They all became legends because they stayed rooted.
In India, we worship migration. Mumbai for finance, Bangalore for tech, Singapore for tax, London for status.
But ask Radhakishan Damani (DMart) who stayed in Mumbai and never moved to London. Roots give you trust, networks, and mental peace. Three things no algo-trading terminal can buy. It’s priceless.
In the letter, Buffett says, “Looking back I feel that both Berkshire and I did better because of our base in Omaha than if I had resided anywhere else.”
Imagine writing that at 95.
Which makes me think what would my final letter look like? “I chased 2% extra return and missed my parents’ evening walks, my child’s annual day, and my wife’s birthday.”
Stay rooted and compound relationships before compounding money. In the long run, it will always help.
Lesson 3: Don’t Wait for The “After Me”
Buffett drops the biggest truth bomb so casually:
“Greg Abel will become the boss at year-end… I would like to keep a significant amount of ‘A’ shares until Berkshire shareholders develop the comfort with Greg that Charlie and I long enjoyed.”
He is 95. Worth $140 billion. He could have made his children CEOs. Instead, he chose a Canadian energy expert who lived four blocks away in the 1990s but never met him till destiny collided.
And that’s real power. Guts of steel if you will.
In India, majority of family businesses die by the third generation because founders refuse to let go. Promoters fight in courtrooms while share prices bleed. And its investors, curse the day they bought into the company.
It is at such times, that Buffett’s golden teaching comes to mind…
Great leaders don’t build dynasties. They build institutions.
That is exactly what he did, and his life is a blueprint of how to be a good leader. He trusts his children with $50 billion+ in philanthropy, but not with Berkshire. Why do you think that is? Because charity needs heart; business needs capital allocation at 20% ROE in a world of AI and climate change.
So, before investing in your next pick, ask yourself: “What if the founder of this company drops dead tomorrow? Will the son/daughter destroy my capital?” If the answer is “maybe”, it’s time to think again. Don’t worry, Buffett’s letter could be the guiding light one might need.
Lesson 4: “Ruling from the Grave” Is a Fool’s Game
Buffett converted 1,800 A-shares into 2.7 million B-shares and donated them immediately to four family foundations.
He writes:
“Ruling from the grave does not have a great record, and I have never had an urge to do so.”
In India, where elders refuse to part with their riches, we love a little “will” drama. Even Buffett’s will generated huge interest from Indians.
No wonder in our country rich uncles die, nephews fight, lawyers feast on the dispute. That is standard operating procedure in many cases.
This is what Buffett was against his whole life. He accelerated lifetime giving because:
- His children are 67–72 years old and experienced enough to deploy billions wisely.
- Tax laws may change.
- The world may need solutions in 2050 that don’t exist in 2025.
And for one thing, Buffett does not want to micromanage from heaven, even if he could.
Some of India’s well-known leaders follow this lesson of giving generously while they are alive and they can. Azim Premji gave 67% of Wipro to charity. Shiv Nadar, Ronnie Screwvala… All giving while breathing.
Stop hoarding for “after me”. Your children will fight over the holiday home. The world needs schools, hospitals, and climate warriors now.
Lesson 5: Choose Heroes Who Practise Kindness
There was this one line in his final letter to investors, that moved many readers, including me.
“When you help someone in any of thousands of ways, you help the world. Kindness is costless but also priceless… The cleaning lady is as much a human being as the Chairman.”
You see, Kindness compounds when money evaporates.
Just go back a few years and remind yourself of the Covid times.
Markets crashed 40%, jobs were lost, loved ones lost, savings wiped out and a lot more. In those times, who helped you?
It wasn’t your broker or the finfluencer whom you religiously follow in social media. It was your partner who said “ghar chal raha hai”. Your parents who shared their pension money. Your house help who still came to work wearing three masks.
Buffett’s heroes in this case were his Aunt Edie who brought fingerprint kits to a sick child and nuns who hugged a Protestant boy.
Kindness is the only asset that gives dividends in tears of gratitude.
Final Words: A 95-Year-Old Man’s Loud Wake-Up Call for Indians
When I finished reading Buffett’s letter and was about to start my day, I got a notification on my phone. “NIFTY Struggles, Bihar Elections”
Normally I would panic at something like this, but not today.
Because a 95-year-old man from Omaha just reminded me:
- My son’s laughter is worth more than 10% correction.
- My mom’s freshly made coffee is richer than any multibagger.
- My health is more important than the exit polls.
As in his own words, Warren Buffett is “going quiet”, but his words are screaming across continents, languages, and generations.
Close the trading app. Open your child’s school diary. Call your parents. Donate to a good cause, help a friend in need…
Because one day, it could be tomorrow or even 40 years from now, you will write your own farewell letter.
And this is your chance to begin and ensure it reads like Buffett’s
Not like the guy who died chasing the next 20% return and forgot to live the 100% life.
And don’t worry. We will always have Warren Buffett as the guiding light. He might have stopped writing to his investors, but he plans on continuing to write the annual Thanksgiving letter.
That will be something to be thankful for!
Thank you, Warren. From 1.4 billion Indians who’ve never met you but will never forget you.
The purpose of this article is only to share interesting charts, data points, and thought-provoking opinions. It is NOT a recommendation. If you wish to consider an investment, you are strongly advised to consult your advisor. This article is strictly for educative purposes only.
Suhel Khan has been a passionate follower of the markets for over a decade. During this period, he was an integral part of a leading Equity Research organisation based in Mumbai as the Head of Sales & Marketing. Presently, he is spending most of his time dissecting the investments and strategies of the Super Investors of India.
Disclosure: The writer and his dependents do not hold the stocks/securities/funds discussed in this article.
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