" Summary
Warren Buffett will step down as CEO of Berkshire Hathaway at the end of the year, continuing as Board Chair and coming to his office every day.
Buffett has prepared well for his departure, has a successor well vetted, and good portfolio actions, leaving Berkshire well positioned to avoid trouble with a market downturn.
Berkshire's core businesses should continue to do well with low risk, but the real question is whether Berkshire can still be "great" without Buffett. In one area it probably cannot.
Buffett is an investment giant, able to make huge decisions to buy or sell no one else could make. He attributes Berkshire's success to just eight or nine lifetime decisions.
The looming question of what to do with $350 billion in cash would probably best be served by huge buybacks at a price accretive to shareholder value."

Sloan,

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