Core Insights - Warren Buffett's recent letter to shareholders marks his final communication in the role of CEO of Berkshire Hathaway, although he will continue to write Thanksgiving letters to shareholders and the public [1] - Buffett plans to accelerate donations to his children's foundations while retaining a significant amount of Class A shares until trust in successor Greg Abel matches the trust previously held in himself and Charlie Munger [1] - Berkshire Hathaway's Class A and B shares have risen nearly 10% this year, outperforming most defensive stocks but lagging behind the overall market [1] Financial Performance - As of September 30, Berkshire Hathaway holds a record $381.6 billion in cash, indicating a robust balance sheet and cautious investment strategy [1] - The company has reduced stock holdings for 12 consecutive quarters, reflecting Buffett's caution regarding the current high-valuation market [1] Personal Philosophy - Buffett shares life lessons, stating that the "second half" of life can be better than the "first half," encouraging learning from mistakes and emphasizing that it is never too late to improve [1] - He highlights that life is not solely about money, asserting that greatness comes from helping others, which in turn benefits the world [1]
巴菲特股东信最后一课巴菲特说他人生的下半场更好