Overview
- Buffett relinquishes day-to-day control but remains chairman and has said he is "going quiet."
- Berkshire held $381.6 billion in cash at the end of September and has been a net seller of equities for 12 consecutive quarters.
- The roughly $300 billion stock portfolio now draws scrutiny, with some analysts suggesting Berkshire could pare back active stock picking.
- Abel will author the annual shareholder letter as Buffett reduces his public role, and some longtime shareholders expect the firm’s patient, decentralized culture to continue.
- Buffett’s tenure produced an overall return exceeding 5.5 million percent for Berkshire, cementing a track record unmatched in modern markets.