Warren Buffett

They call him the Oracle of Omaha because this gent from the mid-west has always seemingly been able to see where the world is headed, and then to position his business interests in favourable positions.

For 60 Years, Warren Buffett ran Berkshire Hathaway as President & CEO and Chairman of the Board.

Last week, I attended the 2025 Annual General Meeting of shareholders (AGM) in Omaha, Nebraska and I bore witness in person to his historic announcement that he would be passing the reigns to Mr. Greg Abel, a Canadian business associate of Buffett's.

With just 5 minutes left in the shareholder meeting in Omaha, Buffett said he had something important to tell everyone. Then, he dropped the news.

But, looking back on the meeting, he foreshadowed this announcement in 3 interesting ways, all classic Buffett-isms.

1. He repeatedly referred to “turn every page” as his method in life and in business. Turning the page in life (both literally and figuratively) is how he uncovered opportunities that would otherwise be hidden in plain site. Of course, his repeating of this sentiment during the 2025 AGM started to feel like a reference to closing a chapter. Sixty years at the helm - Mr. Buffett, that was some chapter!
2. Buffett quipped during the meeting that "Anything that cannot go on forever, would surely come to an end". I have heard him say this before and it always generates a chuckle, but it is usually in reference to market mania or market depressions/recessions. This time, he was acknowledging that since he himself could not go on forever, that therefore his reign at Berkshire Hathaway would come to an end.
3. During the meeting, which was attended by notables such as Bill Gates of Microsoft, Tim Cook of Apple, Hillary Clinton and others, Buffett spoke fondly of Cook’s predecessor and founder of Apple, Steve Jobs. He said "No one could have created Apple like Steve Jobs did", and then he followed that with a statement about Tim Cook stating that "no one could have taken Apple to its current even greater position in the world, than Tim Cook has done after Jobs untimely death". I am sure he planted this seedling of a soundbite to help the world feel assured that after Buffett steps down, Greg Abel could take the company to ever greater successes. This is important because markets can get spooked if a cult of personality leader of a company suddenly disappears. The world can only imagine for example how Tesla would fare without the cult-effect that Elon Musk garners.

Since the passing of my father when I was just nine, I have always been drawn to strong, wise male figures. It's a natural response to childhood trauma and a way to help fill the void. Buffett and his now-deceased partner, Charlie Munger (died November 28, 2023) have shared generously about their experiences in life and business. As well, Buffett has committed his vast wealth (mostly tied up in stock certificates) to charitable foundations that will help to address world-wide problems in hunger and disease.

While Buffett may no longer take the stage at the yearly AGMs, his legacy will continue for decades to come. His sage advice on life and on business have resonated greatly with me though he is the first to acknowledge that he is not the originator of most of the advice he gives. Buffett gives credit generously to his partners and colleagues and to historical figures. In the book about Buffet by Alice Shroeder, titled "The Snowball", (which I proudly display on my bookshelf beside the Trump books (kidding!)), Buffett attributes his ability to overcome shyness and self-centeredness to taking a Dale Carnegie Course when he was a young man. Carnegie (no relation to the magnate Andrew Carnegie) wrote a popular book called: "How To Win Friends and Influence People". Ironically, it's perplexing to see just how many people seem to abide by the opposite philosophy, that being: "how to lose friends and alienate people!".

The two gents together could play off each other humourously distilling complex subjects into accessible truths. Below, I share some of my favourites (many of which have historic origins in the likes of Benjamin Franklin, stoic philosophers and other right-lived people. The common thread amongst these power influences invariably comes down to living a rational life, living virtuously, seeking personal best but not at the expense of others but at the same time as contributing to others.

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