Will Anything Change Now That Warren Buffett Has Announced His Retirement as CEO of Berkshire Hathaway?
Every year, shareholders, investors, and the media flock to Omaha, Nebraska, for the Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) annual meeting. It is a chance for Wall Street and Main Street to hear directly from Chief Executive Officer Warren Buffett, whose long-term investment success has earned him the nickname "the Oracle of Omaha." This time, however, what Buffett had to say was a bit different because he announced his plan to retire at year-end. Will anything change now that this leadership transition is finally taking shape?Before discussing Buffett's retirement, it is important to first dig into Berkshire Hathaway's business model. Although when it has to be categorized, it is usually placed in the financial sector because of its large insurance operations, it's really a gigantic, diversified conglomerate. Where most companies can summarize their businesses in a paragraph or two, Berkshire Hathaway's business description runs more than 20 pages.Image source: The Motley Fool.Continue reading
Every year, shareholders, investors, and the media flock to Omaha, Nebraska, for the Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) annual meeting. It is a chance for Wall Street and Main Street to hear directly from Chief Executive Officer Warren Buffett, whose long-term investment success has earned him the nickname "the Oracle of Omaha." This time, however, what Buffett had to say was a bit different because he announced his plan to retire at year-end. Will anything change now that this leadership transition is finally taking shape?
Before discussing Buffett's retirement, it is important to first dig into Berkshire Hathaway's business model. Although when it has to be categorized, it is usually placed in the financial sector because of its large insurance operations, it's really a gigantic, diversified conglomerate. Where most companies can summarize their businesses in a paragraph or two, Berkshire Hathaway's business description runs more than 20 pages.
Image source: The Motley Fool.
