Ideas

How Warren Buffett Did It

The most successful investor of all time is retiring. Here’s what made him an American role model.

First published in The Atlantic on December 18, 2025.

by Seth A. Klarman, The Atlantic
December 25, 2025 | reading time: 21 Min.

Warren Buffett has long been known and admired around the world for doing something that is, at its essence, mundane. He is not a brilliant artist or a great inventor or a record-setting athlete. Instead, his brilliance—a low-key, midwestern type of brilliance—found expression in the prosaic art of investing: buying this stock and avoiding that one. Buffett himself has called this task “simple, but not easy.” While millions upon millions of people buy and sell investments every day, no one has a record of doing it better than he has, as consistently as he has, and for as long as he has.

© SZ - You can acquire rights to the article here.