Legendary investor Warren Buffett, in a heartfelt letter to Berkshire Hathaway shareholders dated 10 November, expressed profound gratitude for his life as he approaches 95 years of age. The Oracle of Omaha stunned the financial world by simultaneously announcing that this would be his final annual letter and that he will step down as CEO by the end of the year, with Greg Abel named as his successor.
A Brush with Death and a Lifelong Bond
Reflecting on his incredible journey, Buffett shared a gripping story from 1938, a time when he nearly died from a medical emergency. "As Thanksgiving approaches, I'm grateful and surprised by my luck in being alive at 95. When I was young, this outcome did not look like a good bet. Early on, I nearly died," the investing icon confessed.
He painted a vivid picture of Omaha in the 1930s, where hospitals were informally categorized along religious lines as either Catholic or Protestant. Hailing from a Protestant household, young Warren shared a warm, friendly bond with his family's Catholic doctor, the esteemed Harley Hotz. "Dr Hotz called me Skipper and never charged much for his visits," Buffett fondly recalled, highlighting a relationship that transcended the era's social divisions.
The 1938 Emergency Appendectomy
The crisis began when young Warren was struck by a severe stomachache. Dr. Hotz paid a visit, conducted a brief examination, and initially assured the family that the boy would be fine by morning. However, the doctor's intuition told a different story. After returning home for dinner, he couldn't shake the feeling that the symptoms were peculiar and serious.
Acting on this professional hunch later that night, Dr. Hotz made the crucial decision to send Buffett to St. Catherine's Hospital for an emergency appendectomy. This procedure, which involves the surgical removal of the appendix, is typically safe, but a ruptured appendix can be deadly if the infection spreads to the bloodstream. For a child in 1938, the situation was genuinely perilous.
Unexpected Rewards of Recovery
Buffett's recovery, which he described as "dicey for much of the first week," turned into an unexpectedly charming chapter of his life. "During the next three weeks, I felt like I was in a nunnery, and began enjoying my new 'podium'. I liked to talk – yes, even then – and the nuns embraced me," he wrote.
The experience came with its own set of joys. His third-grade teacher, Miss Madsen, instructed all 30 of his classmates to write him letters. With characteristic humour, Buffett admitted, "I probably threw away the letters from the boys, but read and reread those from the girls; hospitalisation had its rewards."
The highlight of his convalescence was a unique gift from his Aunt Edie: a professional fingerprinting set. The young Protestant boy proceeded to fingerprint all the attending nuns at the Catholic hospital, creating a memorable interaction. "I was probably the first Protestant kid they had seen at St. Catherine's and they didn't know what to expect," he mused.
A Legacy of Leadership and Gratitude
This poignant reflection on mortality and fortune comes as Buffett prepares to hand over the reins of his colossal empire. His announcement that Greg Abel will succeed him as CEO of Berkshire Hathaway marks the end of an era for the conglomerate and for global investing. This final shareholder letter is not just a financial summary; it is a deeply personal narrative of a life filled with both risk and remarkable luck, a testament to the people and moments that shaped the world's most famous investor.
