Final thoughts for 2025

Before we pause our Daily Instagraphs for the festive season, today’s Daily Instagraph is a little different. It features again an excerpt from Warren Buffett’s message to Berkshire Hathaway shareholders dated 10 November 2025 (“To My Fellow Shareholders”). In that note, Buffett wrote that he is “going quiet,” i.e., stepping back from writing Berkshire’s annual report and from speaking at the company’s annual meeting—marking the end of an era for one of the business world’s most respected voices.

Beyond markets, the passage shared today is a strong reminder to stay focused on what ultimately matters: long-term character, long-term decisions, and living deliberately—rather than getting distracted by short-term noise.

We will now take a short festive break and will be back on Monday, 5 January, in the same daily format, aiming to provide insights and perspectives for the long-term investors we are—helping us navigate the investment journey with discipline and clarity.

If you would like to discuss a topic in more depth, or if you have specific requests for future Daily Instagraphs, please feel free to contact us directly at European Capital Partners (ECP).

With best wishes from the team at ECP and myself for a peaceful festive season and a very good start into the New Year,