Berkshire investors anticipate new era as Buffett hands over the baton

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Berkshire investors anticipate new era as Buffett hands over the baton - Business Standard

Quick Summary:

Berkshire Hathaway shareholders mourning the departure of legendary investor Warren Buffett anticipate the conglomerate he built over 60 years will retain its long-term focus and culture but worry about the loss of Buffett's vision and star power.

Following Buffett's surprise announcement on Saturday that he would step down as chief executive by the end of the year, Berkshire shareholders and fans said the Omaha, Nebraska-based company will remain in good hands once Vice Chairman Greg Abel takes the top job.

It's just tough shoes to fill."This is Buffett's baby, and he thoughtfully and deliberately planned for an orderly succession that does not disrupt the value of his life's work," said Daniel Hanson, senior portfolio manager at Neuberger Berman."I have full confidence in Greg's leadership.