Buffett Gave No Clues About Who Replaces Him

Warren Buffett's annual letter highlights two main points: the impact of accounting differences on Berkshire Hathaway's financial results and the future leadership of the company. He explains how retained earnings from investments add value beyond recorded dividends and advises against reacting to market fluctuations. Buffett also introduces Ajit Jain and Gregg Abel as key figures for Berkshire's future, reassuring shareholders of a smooth transition.

What is the first big takeaway from Warren Buffett's annual letter?

How does Warren Buffett describe the relationship between stock investments and business takeovers?

Who are the top contenders to succeed Warren Buffett at Berkshire Hathaway?

What concerns did Buffett address regarding his departure?

What does Buffett imply about the future of Berkshire Hathaway after his departure?