"Warren Buffett's extraordinary six-decade tenure as CEO of Berkshire Hathaway ( )( ) comes to a close on Wednesday. The 95-year-old legendary investor announced his retirement earlier this year, marking the end of an era for one of the world's most successful conglomerates. Over that time period, Buffett delivered better than 5 million percent returns, about 20% annually, or twice those of the S&P 500."
"He transformed a failing textile company into a trillion-dollar powerhouse by focusing on buying high-quality businesses at reasonable prices and holding them indefinitely. His approach emphasized intrinsic value over short-term market fluctuations, economic "moats" that protect competitive advantages, and disciplined capital allocation. Iconic holdings like Coca-Cola ( ), American Express ( ), and long-term stakes in insurance giants demonstrate this patience. But his legacy extends beyond numbers."
Warren Buffett retired after a six-decade tenure that produced returns exceeding five million percent and roughly 20% annualized, outpacing the S&P 500. Buffett built Berkshire Hathaway by buying high-quality businesses at reasonable prices and holding them long term, emphasizing intrinsic value, economic moats, and disciplined capital allocation. Iconic holdings included Coca-Cola and American Express, and a large insurance float funded investments. He created a decentralized culture granting autonomy to subsidiary managers and popularized patient, principled investing through shareholder letters. Greg Abel, the longtime vice chairman overseeing non-insurance operations, will assume the CEO role beginning Jan. 1.
Read at 24/7 Wall St.
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