economy

January 1, 2026

A 5 million percent return in 60 years leaves Warren Buffett’s legacy unmatched

Warren Buffett has handed over the reins after a six-decade run that turned an unremarkable textile mill into one of the most powerful compounding engines in history.

A 5 million percent return in 60 years leaves Warren Buffett’s legacy unmatched

TL;DR

  • Warren Buffett has handed over the CEO position at Berkshire Hathaway to Greg Abel after a six-decade run.
  • Under Buffett's leadership, Berkshire Hathaway delivered a compounded annual gain of 19.9% from 1964 to 2024.
  • Buffett's strategy involved using insurance float for capital, acquiring businesses with durable cash flows, and long-term investing.
  • Greg Abel will take over Berkshire's annual shareholder letters, a tradition initiated by Buffett in 1965.
  • Berkshire Hathaway held a record $381.6 billion in cash at the end of September, reflecting caution in a valued market.
  • There is uncertainty regarding the future management of Berkshire's $300 billion equity portfolio, with potential scaling back of active stock selection.

Continue reading the original article