Buffett on Stepping Down as CEO: Time Flies, But Still Sharp in the Face of Market Panic

Berkshire Hathaway Chairman and CEO Warren Buffett stated in an interview with the Wall Street Journal: "For some reason, I didn't really start to feel old until I was around 90, but once you start aging, the change is irreversible." It is reported that Buffett's body has occasionally started to lose balance, and sometimes he finds it difficult to remember people's names. Buffett said, "True talent is very rare, rare in business, rare in capital allocation, and rare in almost all human activities. Honestly, it would be unfair not to put Abel in this position (CEO), and the longer Berkshire benefits from Abel, the better." Buffett praised Abel as both a manager and a dealmaker: "The difference in energy levels and the amount of work completed within 10 hours on a workday between him and me is becoming more apparent. He is more efficient in completing tasks, managing adjustments, and helping those in need." Buffett admitted that aging has weakened some of his abilities, but he stated that he still possesses perhaps the most precious and rare talent as an investor: "I have no difficulty making decisions, whether it's something I decided 20 years ago, 40 years ago, or 60 years ago. If the market panics, I can still be of use because I am not afraid when prices drop or others panic, and that really has nothing to do with age." Recently, Berkshire's massive cash and treasury reserves have been increasing, drawing attention from the outside world, with people wondering where the company will trade next. Buffett said, "Abel will have ideas about where the funds should be directed."