Warren Buffett
Chairman and CEO of Berkshire Hathaway from 1970 to 2025, when Greg Abel became CEO; chairman as of 2026. Wrote the annual Letters to Berkshire Shareholders from 1977 to 2024, read closely across the investing world for decades.
Warren Buffett did not write this page. ppll compiled it from their own words, each linked to the source. Is this you? · Report a mistake
What they believe
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Investors do better over time in a low-cost index fund than in a group of hedge funds, on average.
Investors, on average and over time, will do better with a low-cost index fund than with a group of funds of funds.
berkshirehathaway.comSaid 25 Feb 2017This on korrents
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His advice to his own estate's trustee is the same advice he gives everyone: almost all of it into a low-cost S&P 500 index fund, not with a high-fee manager.
My advice to the trustee could not be more simple: Put 10% of the cash in short-term government bonds and 90% in a very low-cost S&P 500 index fund. (I suggest Vanguard’s.) I believe the trust’s long-term results from this policy will be superior to those attained by most investors – whether pension funds, institutions or individuals – who employ high-fee managers.
berkshirehathaway.comSaid 28 Feb 2014This on korrents
The bold line is korrents’ wording; the quote is theirs. These 2: what they wrote before what they said aloud, one per source, newest first.
Beliefs
Korrents What they believe 3 beliefs — each backed by an exact quote.
Each is a — compiled by korrents.com, not by them: the one-line wordings are korrents', the quotes are theirs.
Recent
Investors do better over time in a low-cost index fund than in a group of hedge funds, on average.
Investors, on average and over time, will do better with a low-cost index fund than with a group of funds of funds.
Berkshire Hathaway 2016 Chairman's Letter Said 25 Feb 2017
When trillions of dollars are managed by high-fee Wall Street managers, it is the managers who reap the outsized profits, not their clients.
The bottom line: When trillions of dollars are managed by Wall Streeters charging high fees, it will usually be the managers who reap outsized profits, not the clients. Both large and small investors should stick with low-cost index funds.
Berkshire Hathaway 2016 Chairman's Letter Said 25 Feb 2017
His advice to his own estate's trustee is the same advice he gives everyone: almost all of it into a low-cost S&P 500 index fund, not with a high-fee manager.
My advice to the trustee could not be more simple: Put 10% of the cash in short-term government bonds and 90% in a very low-cost S&P 500 index fund. (I suggest Vanguard’s.) I believe the trust’s long-term results from this policy will be superior to those attained by most investors – whether pension funds, institutions or individuals – who employ high-fee managers.
Berkshire Hathaway 2013 Chairman's Letter Said 28 Feb 2014
What is a korrent?
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Where they publish
Newsletter Letters to Berkshire Shareholders Annual first-person letters, 1977 to 2024, written and signed by him. No feed -- a static archive.
His own account of the year's results, mistakes and reasoning, written every year since 1977. Read closely across the investing world as the clearest single record of how he thinks. Authorship passes to Greg Abel starting with the letter covering 2025.
Links
Link verified 8 Sept 2026.
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