Warren Buffett Steps Down After 60 Legendary Years

Benzinga

Warren Buffett is retiring after six decades of leadership at Berkshire Hathaway, passing the torch to Greg Abel by the year's end. Under his tenure, Berkshire's valuation reached $1.16 trillion. Despite volatile markets, Berkshire's stock has risen by 19% while the S&P has declined. Buffett urges calm, emphasizing that recent events are not dramatic and that emotions are investors' enemies. Berkshire currently holds $347 billion in cash, surpassing major tech companies. Buffett has been selling shares in Apple and Bank of America, suggesting strategic repositioning. The video invites speculation on whether Buffett's retirement signals a larger underlying change.

Transcript

00:00Warren Buffett is stepping down after 60 years at the top as Berkshire hits a $1.16 trillion

00:06valuation. At 94, Buffett just told shareholders that he's handing the reins to Greg Abel by the

00:12end of the year. Meanwhile, markets are shaky, but Berkshire's stock is up 19% while the S&P

00:18is down. Buffett's message, stay calm, saying, quote, what's happened lately is nothing dramatic.

00:24He reminded investors, emotions are your enemy. Berkshire now holds $347 billion in cash,

00:31more than Apple, Google, and Microsoft. He's quietly been selling Apple and Bank of America

00:37while trimming positions and waiting for better deals. So is Buffett stepping aside because it's

00:42time or because something bigger is coming? Drop your thoughts in the comments and follow

00:46Benzinga for real-time moves from the biggest players in the game.

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