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    <title>Buffett on ByF (BaiFan) · Daily Deep Think</title>
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      <title>Buffett&#39;s 2025 Shareholder Letter: Farewell and Legacy</title>
      <link>https://blog.baifan.site/en/berkshire-hathaway-shareholder-letter-2025/</link>
      <pubDate>Fri, 31 Oct 2025 20:00:00 +0800</pubDate>
      <author>blog@baifan.site (ByF (BaiFan))</author>
      <guid>https://blog.baifan.site/en/berkshire-hathaway-shareholder-letter-2025/</guid>
      <description>&lt;figure&gt;&#xA;        &lt;img&#xA;          class=&#34;my-0 rounded-md&#34;&#xA;          loading=&#34;lazy&#34;&#xA;          decoding=&#34;async&#34;&#xA;          fetchpriority=&#34;auto&#34;&#xA;          alt=&#34;Berkshire shareholder letter cover&#34;&#xA;          width=&#34;1622&#34;&#xA;          height=&#34;1024&#34;&#xA;          src=&#34;https://blog.baifan.site/pictures/note/berkshire-shareholder-letter-featured_hu_c60e268d8dc98d37.jpg&#34;&#xA;          srcset=&#34;https://blog.baifan.site/pictures/note/berkshire-shareholder-letter-featured_hu_c60e268d8dc98d37.jpg 800w,/pictures/note/berkshire-shareholder-letter-featured_hu_bffbb18ff565a1ed.jpg 1280w&#34;&#xA;          sizes=&#34;(min-width: 768px) 50vw, 65vw&#34;&#xA;          data-zoom-src=&#34;https://blog.baifan.site/pictures/note/berkshire-shareholder-letter-featured.jpg&#34;&#xA;        /&gt;&#xA;  &#xA;  &lt;figcaption&gt;Selected cover of the Berkshire shareholder letter&lt;/figcaption&gt;&#xA;  &lt;/figure&gt;&#xA;&lt;p&gt;To My Fellow Shareholders:&lt;/p&gt;&#xA;&lt;p&gt;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.”&lt;/p&gt;&#xA;&lt;p&gt;Sort of.&lt;/p&gt;&#xA;&lt;p&gt;Greg Abel will become the boss at yearend. He is a great manager, a tireless worker and an honest communicator. Wish him an extended tenure.&lt;/p&gt;</description>
      
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