Warren Buffett has officially signaled the end of an era. In a move that marks the closing chapter of his historic tenure, the 95-year-old Oracle of Omaha released a letter to Berkshire Hathaway shareholders that outlines his departure as CEO and the cessation of his legendary annual reports.
Buffett’s letter, dated November 10, confirms that his longtime lieutenant, Greg Abel, will assume the role of CEO at year-end. But the most poignant shift is in Buffett’s communication. For decades, his annual shareholder letters have been scripture for investors—a mix of folksy wisdom, financial acuity, and candor. Now, he says, that tradition is over.