Buffett talks about stepping down as CEO: Time once lost cannot be regained, but when facing market panic, the sword is still sharp.
Berkshire Hathaway Chairman and CEO Buffett said in an interview with The Wall Street Journal, "For some reason, I didn't really start feeling old until I was around 90 years old, but once you start getting old, this change is irreversible." According to reports, Buffett has started to occasionally lose balance and sometimes has difficulty remembering other people's names. Buffett said, "Real talent is very rare, rare in the business field, rare in capital allocation, and rare in almost all human activities. To be honest, it is unfair not to put Abel in this position, the longer Berkshire benefits from Abel, the better." Buffett praised Abel as being both a manager and a dealmaker, saying, "The difference between his energy level and the work he completes within 10 hours on a working day and my performance is becoming increasingly clear, he is more efficient in completing tasks, managing adjustments, and helping those in need." Buffett admitted that age has weakened some of his abilities, but he said that he still possesses perhaps the most precious and rare talent as an investor: "I have no difficulty making decisions, regardless of whether it's something I decided on 20 years ago, 40 years ago, or 60 years ago. If there is panic in the market, I can still be useful, because when prices fall or others feel panic, I won't be afraid, age really has nothing to do with it." Recently, Berkshire's huge cash and treasury reserves have been increasing, attracting attention from the outside world, and people want to know where the company will trade next. Buffett said, "Abel will have ideas about where the funds should be invested."
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