Warren Buffett Will No Longer Be Writing Berkshire's Annual Report Or 'Talking Endlessly' At Annual Meeting: 'I'm Going Quiet'
Synopsis
The Oracle of Omaha also reaffirmed his belief in incoming CEO Greg Abel, stating that he is a “great manager, a tireless worker and an honest communicator.”
Berkshire Hathaway Inc.’s (BRK.A, BRK.B) outgoing CEO, Warren Buffett, on Monday released a Thanksgiving letter as he prepares to hand over the reins of the company to incoming chief Greg Abel.
Buffett said that he will no longer be writing Berkshire’s annual report, nor would he be “talking endlessly” at the company’s annual shareholder meeting. “As the British would say, I’m ‘going quiet.’ Sort of,” he stated in the letter.
He also reaffirmed his belief in Abel, stating that he is a “great manager, a tireless worker, and an honest communicator.”
BRK’s Berkshire’s Class A shares were marginally up by 0.1% in Monday’s midday trade. Retail sentiment on Stocktwits around the company trended in the ‘bearish’ territory at the time of writing.
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