Warren Buffett published his “farewell” letter to Berkshire Hathaway shareholders this Monday (10), offering a true lesson in introspection, recognizing his own luck and sharing wise advice.
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It is worth reading the letter in full, in English. But check out some lessons for leaders that I think are important to highlight:
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Control your envy:
“What often bothers very rich CEOs — after all, they are human — is that other CEOs are getting even richer. Envy and greed go hand in hand. And what consultant has ever recommended a serious cut in CEO compensation or board pay?”
“Don’t beat yourself up over past mistakes—learn at least a little from them and move on. It’s never too late to improve.”
Measure success by impact:
“Greatness doesn’t come from accumulating large amounts of money, a lot of publicity, or great power in government. When you help someone in thousands of ways, you help the world. Kindness costs nothing, but it’s invaluable. Whether you’re religious or not, it’s hard to beat the Golden Rule as a guide to behavior.”
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Reflect on your legacy:
Buffett talks about how FBI Director J. Edgar Hoover, once revered by Americans in the 1930s, “ended up disgraced for misusing his position.” His advice: “Decide what you would like your obituary to say and live the life to deserve it… You will never be perfect, but you can always be better.”
Bet in the USA:
“Our stock price will fluctuate capriciously, occasionally falling by about 50%, as has happened three times in 60 years under current management. Don’t despair; America will recover and so will Berkshire’s stock.”
Read the letter in full, in English, .
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