Buffett's Final Letter: What Happens to BRK After the Oracle Goes Quiet?

Warren Buffett just dropped his 2nd Thanksgiving message, and it reads like a carefully planned exit strategy. At 95, he’s officially “going quiet” — no more annual shareholder letters (a tradition since 1977), and he’s stepping back from the legendary Berkshire annual meeting that attracts nearly 20,000 capitalists to Omaha.

But here’s what matters: Greg Abel is locked in for the long game. Buffett’s holding his Class A shares (with voting rights) and made it clear he wants Abel leading Berkshire for “several decades,” betting on maybe just 5-6 CEOs over the next century. Translation? The succession plan isn’t chaotic — it’s been baked in for 20 years.

The Real Takeaway

Buffett admits Berkshire’s size is now a feature, not a bug. It means less volatility risk than any competitor he can think of — though he’s realistic: the stock could still drop 50% (it has three times before). That’s the stability trade-off.

He also teased a growing interest in tech: recent Alphabet position + heavy Apple holdings suggest the Oracle isn’t as tech-skeptical as his reputation claims. The conglomerate remains one of the cleanest ways to get diversified exposure to blue-chip America.

Bottom line: This isn’t a farewell warning. It’s a handoff to a proven deputy while Berkshire’s moat stays intact. Whether BRK can continue crushing the S&P 500? That’s Abel’s audition now.