Buffett said he will still 'hang around' to help, but the final word on company operations and capital deployment would be with Abel, 62.
"Trade should not be a weapon," Buffett said. "The United States won. We have become an incredibly important country, starting from nothing 250 years ago."
Warren Buffett's Berkshire Hathaway reported first-quarter results on Saturday that showed a steep drop in earnings from the year-earlier period.
The conglomerate's yearly convention kicked off Friday with a shareholder-only shopping event, called the "Berkshire Bazaar of Bargains."
How a shift away from U.S. markets could affect your portfolio.
The money manager behind two of the world's biggest actively managed exchange-traded funds sees a way investors can stay defensive without leaving the market.
Buffett's annual gathering in the Cornhusker State comes as the investment climate turned less certain thanks to President Trump's aggressive tariff regime.
CEO Paolo Ardoino's recent charm offensive in Washington has put a spotlight on Tether amid the pro-crypto shift under President Trump.
As Chinese factories and their U.S. buyers try to navigate tariff uncertainty, there's a concern about whether products will arrive in time for Christmas.
The IRS treats gold — and exchange-traded funds backed by physical gold — as collectibles. Collectibles have a top 28% tax rate for long-term capital gains.
