In his annual letter to Berkshire Hathaway shareholders, Warren Buffett emphasised long-term investing, the value of equities, and the importance of capital deployment. Reflecting on his six-decade tenure, Buffett acknowledged his successor Greg Abel’s readiness to lead. He noted that truly outstanding businesses are rarely sold outright, but investors can buy small portions at times, occasionally at bargain prices. Buffett underscored his continued reliance on American businesses, highlighting the country’s prosperity through saving and wise capital use. He also warned against fiscal irresponsibility that could devalue paper money, reaffirming Berkshire’s commitment to equities despite holding a $334.2 billion cash reserve.