Berkshire Hathaway shares dip nearly 3% after shocking Buffett exit and an earnings decline

1. Warren Buffett announces retirement, promoting Greg Abel as new CEO. 2. Berkshire Hathaway shares dipped after reaching all-time highs on record earnings. 3. Transition indicates confidence in future leadership despite recent profit declines. 4. Berkshire’s insurance sector faces challenges amid wildfire-related losses. 5. Stock performance remains strong, outperforming S&P 500 with 19% gains this year.