Key Highlights
- “Warren is obviously a very hard act to follow,” Abel, 63, wrote.
- He called Buffett “arguably the greatest investor of all time,” but said his mentor notched an equally impressive achievement in building Berkshire into a lasting enterprise, along with longtime business partner Charlie Munger.
- The CEO promised the firm’s core values — capital discipline, integrity and investing for the long run — will remain unchanged.
- “Twenty years from now, when I will have just a fraction of the tenure that Warren had, my intention is that you – or your descendants – will be proud that your company is even stronger,” Abel wrote.
- Abel reaffirmed Berkshire’s shareholder returns policy, saying the firm will buy back its own shares when he believes, after consulting Buffett, that they trade below their intrinsic value.
