Warren Buffett — a legend of investing, will be “going quiet” at the end of this year, and Greg Abel would be his successor. He announced this news to the Berkshire community with the Thanksgiving letters he sent on November 10, 12 AM PT. In those Thanksgiving letters, he reassured the shareholders that he remained in good health generally, but also said he felt the effects of aging more clearly on his balance, sight, hearing, and memory.

Mr. Buffett has a lot of faith in Greg Abel’s management. He said Mr. Abel is “natural” in management and also that he “more than exceeded” in his high expectations. Warren Buffet wishes him extended tenure, and, he says, if Berkshire has enough luck, they will only have to change CEOs five or six times throughout this century.

Mr. Buffett’s annual letters have become part of his legend: his letters are packed with information about economic analysis, investment advice, and leadership guidelines. For 60 years, Mr. Buffett led Berkshire and transformed it into a trillion dollar market capitalization company.

Among Berkshire’s diverse holdings, their most recognizable include GEICO, Dairy Queen, See’s Candies, Fruit of the Loom, Benjamin Moore, and NetJets.

In his annual Thanksgiving letter, he said that he will be going quiet, but not completely quiet. He promised that he will keep writing annual Thanksgiving letters to the investors.

Before Mr. Buffett announced this change, he worked five days a week in the office. “This is where I work with wonderful people,” Buffet wrote. “Occasionally, I get a useful idea or am approached with an offer we might not otherwise have received.”

Mr. Buffett is highly patriotic—in particular, to Omaha, where he was born and still lives.
In this note, Warren spoke a lot about being kind: “Keep in mind that the cleaning lady is as much a human being as the chairman.”

With the legendary investor retiring from Berkshire, nobody can be sure about what will happen next.