Buffett on leaving the CEO post: Time is gone, but he is still sharp in the face of market panic

Odaily Odaily News: Berkshire Hathaway Chairman and CEO Buffett said in an interview with the Wall Street Journal: "For some reason, I didn't really start to feel old until I was about 90 years old, but once I start to get old, this change is irreversible." According to reports, Buffett's body has begun to occasionally lose balance and sometimes has difficulty remembering other people's names. "True talent is very rare, rare in business, rare in capital allocation, and rare in almost all human activities," Buffett said. "To be honest, it would be unfair not to put Abel in this position (CEO), and the longer Berkshire benefits from Abel, the better." Buffett praised Abel as both a manager and a deal maker: "The difference between his energy level and the amount of work he completes in a 10-hour workday and my performance is becoming more and more obvious. He is more efficient in completing tasks, managing adjustments, helping people in need, etc." Buffett admitted that age has weakened some of his abilities, but he said he still has perhaps the most precious and rarest gift as an investor: "I have no difficulty making decisions, whether it is something I made 20 years ago, 40 years ago or 60 years ago. If there is a panic in the market, I can still be useful because I will not be afraid when prices fall or when others are panicking. It really has nothing to do with age." Recently, Berkshire's huge cash and Treasury bond reserves have continued to increase, attracting attention from the outside world, and people are wondering where the company will make transactions next. “Abel will have ideas about where the money should be invested,” Buffett said.