--- title: "Taking over the \"Oracle of Omaha\" debut! Abel faces the annual shareholder letter exam of Berkshire (BRK)" type: "News" locale: "zh-CN" url: "https://longbridge.com/zh-CN/news/277055782.md" description: "This Saturday, Berkshire Hathaway's new CEO Greg Abel will release his first annual shareholder letter, taking over the role from Warren Buffett. Abel faces numerous challenges, and the letter will showcase the company's future development direction, potentially gradually reducing the cash reserves of $381.7 billion. Experts believe this is a good opportunity for Abel to establish his personal style and strategy" datetime: "2026-02-26T14:11:30.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/277055782.md) - [en](https://longbridge.com/en/news/277055782.md) - [zh-HK](https://longbridge.com/zh-HK/news/277055782.md) --- > 支持的语言: [English](https://longbridge.com/en/news/277055782.md) | [繁體中文](https://longbridge.com/zh-HK/news/277055782.md) # Taking over the "Oracle of Omaha" debut! Abel faces the annual shareholder letter exam of Berkshire (BRK) According to Zhitong Finance APP, Greg Abel, the new CEO of Berkshire Hathaway (BRK.A.US), faces numerous challenges as the successor to the renowned billionaire Warren Buffett. This Saturday, Wall Street will see how he addresses a unique issue for Berkshire: the highly anticipated annual shareholder letter. The 95-year-old Buffett stepped down as CEO at the beginning of the year, ending his sixty-year career. During these sixty years, he transformed a near-bankrupt textile company into a conglomerate valued at over $1 trillion, which includes several insurance companies, BNSF Railway, and dozens of energy, industrial, and retail businesses. While still serving as chairman, Buffett stated last November that he would "no longer speak," as Abel had taken over the company. Buffett is difficult to emulate, and the 63-year-old Abel will not become his replica. Whether facing questions alongside Buffett at the annual shareholder meeting in Omaha, Nebraska, or in the letter on environmental sustainability that Buffett asked him to write last year, Abel has focused more on the specific operational details of Berkshire's business when communicating with investors. His letter may be similar, although it may not be as eloquent as Buffett's highly anticipated annual speeches. This letter provides an opportunity to showcase the future direction of Berkshire Hathaway—potentially even gradually reducing its cash reserves of up to $381.7 billion. "Warren Buffett is the Mark Twain of shareholder letter writing," said Evan Ponder, founder of the investor relations firm Triunfo Partners and a professor at the Annenberg School for Communication and Journalism at the University of Southern California. "At Berkshire, Abel has not been an easily approachable person. The annual shareholder letter is a great opportunity for him to establish his personal style, tone, and strategy." Abel joined Berkshire in 2000 and has served as vice chairman for the past eight years, overseeing dozens of non-insurance businesses. He is widely regarded as having a deep understanding of Berkshire and is committed to preserving its corporate culture. "Management credibility has always been an important part of Berkshire's strategy," said Greg Miller, a professor specializing in financial communication at the University of Michigan's Ross School of Business. "Buffett's reputation has brought credibility to the company's business and decisions. Abel needs to take over and continue this tradition." ## Stock Performance Lags Berkshire's fourth-quarter and full-year results will be released alongside Abel's letter. Operating profit for the full year 2025 is expected to approach the record of $47.44 billion set a year ago. However, since Buffett announced his retirement plan on May 3 last year, Berkshire's stock price has fallen by 8%, while the S&P 500 index has risen by 22%. Analysts have long believed that cash accumulation would weigh on performance. Berkshire has net sold stocks for 12 consecutive quarters and has not repurchased any shares for five consecutive quarters. Its stock price is about 1.5 times its book value ![image.png](https://imageproxy.pbkrs.com/https://img.zhitongcaijing.com/image/20260226/1772114269514254.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) Berkshire Hathaway did not immediately respond to a request for comment. No other CEO's words—including Jamie Dimon of JP Morgan (JPM.US) and Larry Fink of BlackRock (BLK.US)—can be interpreted as closely as Buffett's letters. Every letter he has written since 1978 is archived on the company's website. Buffett often adopts a down-to-earth tone. In 2008, he wrote about the financial excesses that led to the collapse of the U.S. housing market: "Only when the tide goes out do you discover who's been swimming naked." Even so, even if Abel primarily describes Berkshire, he can also look elsewhere. "Buffett's letters are not just about Berkshire's operations; they are about how Buffett views the world. People will want to know how Greg Abel views the world," Miller said. "He must carefully balance maintaining the legacy and establishing his own position." ## Berkshire Faces Unresolved Mysteries Abel's letter may answer some other unanswered questions. These include Vice Chairman Ajit Jain, who is 74 years old and whom Buffett has called "irreplaceable." His tenure after decades of leading Berkshire's insurance business remains a point of interest. Berkshire Hathaway has yet to formally appoint a Chief Investment Officer to succeed Buffett. Previously, Buffett personally managed the company's stock investment portfolio, which is approximately $300 billion. In terms of potential successors, Ted Weschler, who has been a core member assisting in managing that portfolio, is qualified for the position; at the same time, Greg Abel is also seen as a potential candidate, with even the possibility of both serving as co-Chief Investment Officers. Meanwhile, plans to reduce cash include resuming stock buybacks or paying Berkshire's first dividend since 1967. "Greg will seize the opportunity—this is a hallmark of Berkshire," said Steven Chek, a long-term Berkshire investor at Check Capital Management in Costa Mesa, California. Pounder stated that Abel should use this letter to demonstrate his commitment to Buffett's values, a focus on long-term shareholder value, and the investment philosophy he can execute over the next decade. This means he is not just the new on-field commander of Berkshire. "Following Buffett is like taking the football from Tom Brady," said Mike Sykes, a portfolio manager at Gabelli Funds in Rye, New York, referring to the retired football quarterback. "As long as Abel can communicate effectively and provide clear and transparent business feedback, he can do well in building shareholder confidence." ### 相关股票 - [Berkshire Hathaway B (BRK.B.US)](https://longbridge.com/zh-CN/quote/BRK.B.US.md) - [Berkshire Hathaway (BRK.A.US)](https://longbridge.com/zh-CN/quote/BRK.A.US.md) - [XL2CSOPBRKB (07777.HK)](https://longbridge.com/zh-CN/quote/07777.HK.md) ## 相关资讯与研究 - [Berkshire Hathaway just broadcast its most bullish signal in years](https://longbridge.com/zh-CN/news/279271970.md) - [Is Berkshire Hathaway Stock a Buy Right Now?](https://longbridge.com/zh-CN/news/280032286.md) - [Greg Abel Is Buying Warren Buffett's Favorite Stock -- but He's Unlikely to End the 13-Quarter Net Selling Streak of Berkshire's Former Boss](https://longbridge.com/zh-CN/news/279228591.md) - [Buffett Exit Cuts Bank Of America Stake As Valuation Debate Grows](https://longbridge.com/zh-CN/news/279159913.md) - [Buy This Berkshire Hathaway Stock Now and Thank Yourself in a Decade](https://longbridge.com/zh-CN/news/279769481.md)