The Oracle of Omaha Calls It a Career

It was announced Saturday that Warren Buffet, the “Oracle of Omaha” will be stepping away from Berkshire Hathaway at the end of the year. He is designating his Vice Chairman, Greg Abel, to succeed him.

Mr Buffet is presently worth over $165Bn at this time.

Berkshire, with the companies it owns either outright, as a majority owner or as a large minority stakeholder, is worth well over $274TT. Some of the companies include Geico, Dairy Queen, Duracell, American Express, Bank of America, Apple, Coca Cola, Chevron and KraftHeinz.

JPMorgan CEO Jamie Dimon described how he had been inspired by the Berkshire Hathaway boss during his career as one of America’s top bankers.

“Warren Buffett represents everything that is good about American capitalism and America itself, investing in the growth of our nation and its businesses with integrity, optimism, and common sense,” Dimon said. “I’ve learned so much from him to this very day, and I am honored to call him a friend.”

Buffett also used his final annual shareholder shindig to make a thinly-veiled attack on President Donald Trump’s use of tariffs to renegotiate America’s trading relationship with dozens of countries.

“Trade should not be a weapon,” the billionaire investor said, breaking his months-long silence on the topic and without mentioning the commander-in-chief by name.

He ripped Trump’s protectionist policy, telling a packed audience of 40,000 investors that the United States “should be looking to trade with the rest of the world. We should do what we do best, and they should do what they do best.”

One thing is for sure. Whether you love him or dislike him, he is like the old EF Hutton commercial of the 70s and 80s: when Buffet talks, people listen.

And generally, when you listened, to Warren Buffet, invariably, you made money.