Warren Buffett Retires, Names Greg Abel Successor

Warren Buffett, the legendary investor and CEO of Berkshire Hathaway, has announced his retirement and named Vice Chairman Greg Abel as his successor. At his final shareholder meeting, Buffett emphasized the importance of understanding balance sheets over income statements, patience, and selectivity in investing. He reiterated his famous advice to 'be fearful when others are greedy, and be greedy when others are fearful,' especially during recession fears and volatile markets. Buffett also stressed investing within one's circle of competence and starting early to benefit from compound interest. He credited his career success to personal integrity, wise partnerships, and building trust over time. As Buffett steps down, his investment wisdom and leadership principles continue to influence investors and business leaders worldwide.