Buffett’s Farewell Letter: The Only Scorecard That Matters

Warren Buffett’s farewell letter, released on 10 November 2025, has been widely shared — and for good reason.

At 95 years old, the Oracle of Omaha had much to say, not only about markets but about meaning.

Yet buried within his eight-page note lies a short, two-paragraph story that captures the core of his life philosophy — one that outshines any investing model or valuation metric.

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🕯 The Man Who Read His Own Obituary

Buffett writes:

> “Remember Alfred Nobel — the man who invented dynamite. When his brother died, a newspaper mistakenly ran Alfred’s obituary instead.”

As the story goes, Nobel awoke to find himself described as “The merchant of death is dead.”

The article condemned him for “getting rich by finding ways to kill more people faster.”

That was 1888 — and it shocked him to the core.

Until that day, Nobel saw himself as a scientist and engineer, even a peace idealist who believed his invention would make war too horrific to wage.

But the world had already written his legacy: death and destruction.

That mistaken obituary forced him to confront a terrifying question:

> “Is this how I want to be remembered?”

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💡 The Awakening That Changed History

Nobel decided to rewrite his story while he still could.

He revised his will — donating approximately 94 % of his estate (about 31 million SEK in 1895 terms) to create annual prizes honouring those who brought “the greatest benefit to humankind.”

From that decision came the Nobel Prizes, a transformation so profound that his name, once tied to weapons, now stands for peace, discovery, and human progress.

Buffett tells this story not to celebrate philanthropy, but to remind us of something deeper:

> Most of us will never get to read our own obituary — but we can choose to live as if we already have.

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📜 “Decide What You Want Yours to Say”

Buffett wrote:

> “Don’t count on a newsroom mix-up: Decide what you would like your obituary to say and live the life to deserve it.”

For a man whose world revolves around balance sheets and compounding returns, this is a striking confession: numbers don’t tell the full story.

He’s reminding investors — and everyone else — that life runs on two scorecards:

1️⃣ The Outer Scorecard – wealth, titles, recognition, and success.

2️⃣ The Inner Scorecard – integrity, relationships, and the person you become when no one is watching.

Most people measure themselves by the first.

But the one that matters — the one written in your obituary — is the second.

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💭 The Real Question Buffett Leaves Us

Few of us will get Nobel’s accidental wake-up call.

So Buffett urges us to ask ourselves now:

> “If tomorrow were my last day, what story would my family, friends, and colleagues tell about me?

Is that the story I want told?”

In markets, Buffett’s advice has always been simple: think long-term.

In this letter, he transcends investing altogether — turning that same wisdom toward life itself.

True compounding, he reminds us, isn’t just about money.

It’s about character, kindness, and the memories that outlive us.

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🌟 The Takeaway

Buffett’s farewell letter isn’t just a note to Berkshire Hathaway’s shareholders.

It’s a quiet message to everyone navigating ambition, uncertainty, and time:

> In the end, your portfolio fades.

But your story — the one others will write when you’re gone — that’s your ultimate dividend.

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