According to the Zhitong Finance APP, on May 3 local time, the annual Berkshire Hathaway (BRK.A.US) shareholder meeting was held in the small town of Omaha. &#34;Oracle of Omaha&#34; Warren Buffett announced that he plans to retire by the end of the year and stated that he would recommend Vice Chairman of Non-Insurance Operations Greg Abel to the Berkshire Hathaway board of directors to succeed him as CEO by the end of the year, saying he believes the time is right for Abel to take on the role.Although Buffett's succession plan has long been in place, his announcement of plans to retire by the end of the year surprised shareholders and even some board members, and the shock from this announcement continues to resonate widely. Some media reported: “(Buffett) his departure has long been considered inevitable, but this has not diminished the sense of shock. Among Buffett's most loyal followers, this is comparable to the recent passing of Pope Francis.”Buffett's departure will mark the end of a unique era in American business history. Buffett took over Berkshire Hathaway in 1965 when it was merely a struggling textile factory with a stock price of less than $20. As of last Friday, the company's Class A shares closed at a record $809,808.50, creating one of the most remarkable long-term performances in corporate history.For decades, people have speculated about what Berkshire Hathaway would look like after Buffett's departure. In 2003, at the age of 72, he jokingly said that if he &#34;started to get confused,&#34; his whole family would have to persuade him to step down. More than twenty years later, that moment has finally arrived, not because he &#34;started to get confused,&#34; but out of foresight and consistent humility.An Unreplicable CombinationAs the outside world begins to examine Buffett's &#34;legacy,&#34; many conclude that his success is unreplicable—not because his successors lack talent, but because the many unique factors that contributed to his career are difficult to reproduce.The media pointed out: “There is only one Warren Buffett, and there will not be another in the future.” His exceptional intellect is complemented by an extreme focus on the market. Since buying his first stock at the age of 11 in November 1942, Buffett has studied company annual reports and financial data with monk-like concentration. It is widely acknowledged that he possesses near-photographic memory, allowing him to identify market patterns and anomalies with machine-like precision.But success is not just about the individual; it is also about the era. Buffett rose to prominence in a time when the market was inefficient and institutional investors had not yet dominated. He distinguished himself by investing in small companies that few people paid attention to—those that analysts rarely tracked and had few competitors. He was also known for making large bets, with the famous saying, “Be fearful when others are greedy; be greedy when others are fearful,” becoming a golden phrase in the investment world.However, today’s market is completely different, filled with passive funds and algorithmic trading.Berkshire Hathaway's Unique ModelBerkshire Hathaway itself is a unique investment vehicle: it is neither a mutual fund nor a hedge fund, providing Buffett with a perfect platform to focus on long-term opportunities without being affected by investor redemptions or short-term performance pressuresMedia reports indicate: &#34;You can only buy Berkshire Hathaway stock from others in the secondary market.&#34; This protects Buffett from the destructive effects of the &#34;pro-cyclical&#34; nature common to most investment funds.Buffett has packed everything he values into Berkshire Hathaway: railroads, insurance companies, banks, Apple (AAPL.US) stock, and even silver at certain times—creating a vast and flexible investment empire. The latest data shows that Berkshire Hathaway holds over $330 billion in cash and equivalents, a massive &#34;ammunition depot&#34; that will be handed over to his successor.This huge reserve could be crucial. Buffett stated at last weekend's meeting that Berkshire Hathaway will &#34;constantly be bombarded with various investment opportunities in the future, and we will be glad to have ample cash on hand.&#34; However, whether the successor will possess the discipline, judgment, and courage that made Buffett's capital allocation legendary remains to be seen.An End, A BeginningIn his recent letter to shareholders, Buffett reiterated his trust in the U.S. government's reasonable use of the enormous taxes paid by Berkshire Hathaway each year and hinted that even as he prepares to pass the baton, he still firmly believes in the philosophy of long-term value investing.Regardless of how Greg Abel or others lead Berkshire in the future, the core question remains: Is there anyone—whether in Omaha or elsewhere—who can replicate Buffett's unique &#34;alchemy&#34; of talent, timing, and character?As Wall Street begins to look to the future, it is filled with both respect and a bit of unease. The snowball that Buffett rolled down the hill has now turned into an avalanche of value. As multiple media outlets have pointed out, whether his successor can keep the snowball rolling will define a new chapter in American investing

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Warren Buffett announced plans to retire by the end of the year and recommended Greg Abel to succeed him as CEO. Although the succession plan has long been in place, the news surprised shareholders and marks the end of an era. Since Buffett took over Berkshire Hathaway in 1965, the stock price has risen from less than $20 to $809,808.50, achieving outstanding performance. Many believe that his success is unrepeatable and that there will not be another business legend like him in the future

- On May 3, Warren Buffett announced his retirement plans at the Berkshire Hathaway annual meeting, recommending Greg Abel as his successor.  
- Buffett's departure marks the end of a unique era in American business, having transformed Berkshire from a struggling textile company into a major investment powerhouse.  
- The future leadership faces the challenge of replicating Buffett's exceptional investment acumen and the unique market conditions that facilitated his success.

The legend comes to an end! "Stock God" Buffett hands over the baton at the end of the year. Where will Berkshire Hathaway go from here?