Simple Thanks

Warren Buffet released Berkshire Hathaway’s Thanksgiving Letter on November 10th. It is of course sprinkled with his usual little gems of business and investments wisdom, but by far its greatest worth is in its examples of honest and humble thankfulness. Buffet is 95 years old and has a legendary and superlative track record of managing and investing in businesses, but the majority of his letter is spent giving thanks to the hometown, country, family, friends, and good luck that have all directly enabled his success. I was particularly moved by the gratitude he shows to himself, which I share in the quote below:

One perhaps self-serving observation. I’m happy to say I feel better about the second half of my life than the first. My advice: Don’t beat yourself up over past mistakes – learn at least a little from them and move on. It is never too late to improve. Get the right heroes and copy them.

I think it is not always easy to find, let alone share, gratitude for ourselves. I recommend you all give the letter a read. You should be able to easily find it by searching for “Warren Buffet Thanksgiving Letter” on the internet.
 
I recently looked back at my November letter from last year. It was not an outright letter of Thanksgiving, but more so an attempt to address a lot of the uncertainty that was in the air just before the big election. I am very thankful that none of the prophesied apocalypses happened. It has not been a totally smooth ride, but over the past year the S&P 500 rose roughly 13%, while the Dow Jones Industrial rose close to 7%.
 
One major worry I discussed in last year’s letter involved our country’s debt, and we have lots to be thankful for on that front as well. The 2025 fiscal year ended on September 30th, and the Congressional Budget Office estimated the budget deficit to be $1.809 trillion, which is $8 billion less than 2024’s budget deficit. Although that may be just a drop compared to the total deficit, it is a move in the right direction, and at least for now, a change from the continued expansion of the annual deficit we have become used to.
 
This year our family’s plans for Thanksgiving are a little different. Even though the Anderson family is all close to Rock Hill, we have not been able to go on vacation together in a long time. Libby decided to force the issue and found us a home on Airbnb in Hilton Head. The place allows for dogs which has been hurdle in our previous planning. I am looking forward to braving the holiday traffic-choked thoroughfares and sharing good quality time together (conscripted time together with no avenue of escape!). Carter is bringing a box of board games that “Gpa” will be forced to play (again… there is no escape!). And even if our Thanksgiving meal is Chinese take-out, I am excitedly looking forward to the trip and am very thankful for the opportunity.
 
May your own communing, feasting, and celebrating be happy, good, and memorable, and don’t forget to give yourself the thanksgiving you deserve.
 
 
Sincerely,
 
Justin Anderson