Greg Abel will succeed Warren Buffett as Berkshire Hathaway’s CEO in 2026, marking the end of an era. Significant changes are underway at the conglomerate, with Tedd Combs resigning and Marc Hamburg set to retire next year. Abel vows to preserve Buffett’s investment philosophy and culture. Berkshire bought 17.8 million Alphabet shares in Q3.

Buffett admits to past mistakes in investing, including missing out on Amazon and Alphabet early. Berkshire’s recent purchase of Alphabet shares hints at a potential shift in investment strategy. While Abel is expected to bring changes, the company will likely continue to follow Buffett’s value investing principles. Berkshire’s investment philosophy is not expected to drastically change under Abel’s leadership.

Despite past tech aversion, Buffett’s Berkshire still holds Apple as its top holding. While tech valuations are high, Abel may explore investing in AI companies. Abel faces the challenge of filling Buffett’s shoes and achieving market-beating returns. The new CEO’s investment approach may differ from Buffett’s, potentially leading to an expansion of Berkshire’s “circle of competence.”

Read more at Yahoo Finance: Will Greg Abel Reverse Warren Buffett’s ‘Mistake’ as Berkshire Hathaway’s New CEO?