It was a quiet farewell. Warren Buffett, 95, wants to be even less involved in the day-to-day business of his investment company, Berkshire Hathaway, than before. In November 2025, he wrote in his letter to shareholders, “I am going quiet.” This marks the end of an era. Buffett, who has been CEO since 1965, cites his own age and that of his children as the reason for his retirement, which is why he is increasing donations to their foundations earlier than planned. Buffett’s estate will be worth around $149 billion, making it one of the largest fortunes in modern history.
However, there is speculation about another reason: Warren Buffett may be anticipating a new financial crisis. In any case, he has reduced his stock portfolio for twelve consecutive quarters.
The indicator compares the market value of all American stocks to the gross domestic product of the United States. The higher the value, the more likely there is a crash. Buffett once said, “When the ratio approaches 200%, you’re playing with fire.” The current value? Around 220% – higher than ever before.
At the same time, it was announced on Friday that Buffett has added the tech company Alphabet, Google’s parent company, to his portfolio. Previously, Buffett had largely stayed away from tech investments.
The situation on the financial markets is therefore unclear. NZZ am Sonntag asked seven people who foresaw the 2008 financial crisis one question:
Could a new financial crisis be looming?