Overview
- Warren Buffett will retire as Berkshire Hathaway CEO on Dec. 31 and remain chairman, with vice chairman Greg Abel assuming the top job on Jan. 1.
- Berkshire’s cash reached a record above $350 billion in recent filings—$382 billion excluding Treasury payables—while third-quarter operating income rose 34% to $13.5 billion.
- The company has been a net seller of equities for 12 straight quarters, largely sidestepping the AI rally while making only selective buys such as a small Alphabet stake.
- A strategist told CNBC the stock is trading at a “succession discount,” reflecting investors’ wait-and-see stance on Abel’s leadership and capital decisions.
- Analysts say Abel could pursue large acquisitions or investments in areas such as utilities, rail, insurance, or Japanese trading houses, or consider expanded buybacks or dividends.