Warren Buffett 2025 Shareholders Letter (+ Berkshire Hathaway 10-K)

Top Ten Quotes:

"The cardinal sin is delaying the correction of mistakes."
"If you start fooling your shareholders, you will soon believe your own baloney."
"Greg Abel will replace me as CEO... Greg shares the Berkshire creed."
"Business talent is innate, with nature swamping nurture."
"I avidly believe in lifelong learning."
"Treasury Bill yields improved, boosting investment income."
"GEICO needed major repolishing... the 2024 improvement was spectacular."
"A staggering insurance loss will occur someday."
"Mistakes fade; winners can forever blossom."
"I expressed no need for appraisal... accepted his valuation."