Buffett outlines back-to-back strategies as Greg Abel prepares to take over Berkshire

Famous Investor Warren Buffett On Monday he published a letter to shareholders who knew he would be handing over the duties of writing Berkshire Hathaway’s annual report and speaking at shareholder meetings to his successor, Greg Abela.

Buffett, the 95-year-old chairman and CEO of Berkshire Hathawayhe wrote, “I will no longer write Berkshire’s annual report or speak endlessly at the annual meeting. As Britain would say, ‘shut up.’ Kind of. “

“Greg Abela will be manager at Oranendle. He is a great manager, a tireless worker and a reliable communicator. I wish him Abela.”

“I will continue to talk to you and my children about Berkshire in my annual thank you message. Berkshire’s stockholders are indeed A special group that is generous as opposed to sharing its benefits with others who are less fortunate. I appreciate the opportunity to connect with you,” Buffett added.

Buffett Gives $6B in Berkshire Stock to 5 Foundations: Life Giving Up $60B

Buffett wrote about his confidence Abela leads Berkshire Hathawayto say that Abela “has more than I met when I first thought he should be Berkshire’s next CEO.”

Warren Buffett selected Company Insider Greg Abela to replace him as CEO of Berkshire Hathaway. (Daniel Acker/Bloomberg via Getty Images)

“He understands a lot of our businesses and employees better than I do now, and he’s a very quick learner about things that senior executives don’t think about.

Buffett said he plans to speed up the sale of his Berkshire shares to accelerate his pace of giving to his children’s foundations, saying that there is no market that shows there is a change in my view of BERKSHIRI’s prospects. “

Who is the next Greg Abela to replace Berkshire Hathaway?

He also said that he plans to keep some of his “a” shares of Berkshire Stock “until Berkshire shareholders develop comfort with greg lelo charlie [Munger] and I enjoyed it for a long time. That level of confidence shouldn’t last long. “

Buffett said that Berkshire’s businesses “have the best odds, led by a few unincorporated and unmatched values,” and that conglomerates “have less chance of catastrophic disaster than any business I know.”

The man who got the nickname “Oracle of Omaha“It is shown in his good risk in business and in death. He encouraged students to take their mistakes in stride and “learn at least a little from them and move on. It’s never too late to improve. “

Business leaders respond to Warren Buffett stepping down as CEO of Berkshire Hathaway: ‘Just a goat’

Buffett gave advice to students in his stock portfolio. (Daniel Zuchnik / Wiremage)

“Mostly they do -I Come by raising big money, big public figures or big government power. When you help someone in any other way, you help the world. Kindness is not expensive but it is not rich. Whether you’re religious or not, it’s hard to beat the Golden Rule as a moral guide,” Buffett wrote.

“I’m writing this as someone who didn’t think much of the time and made a lot of mistakes but was also very lucky to learn some good friends, anyway.

“I wish all who read this the best Happy Thanksgiving. Yes, even sweaters; It’s never too late to change. Remember to thank America to increase your chances. But it is — frankly, unavoidably — charming and sometimes venal in spreading its rewards,” he wrote.

Find FOX business on the go by clicking here

“Choose your heroes carefully and emulate them. You will never be perfect, but you can always be better,” Buffett wrote.