Most people will remember Buffett for his investing record, his patience, or his ability to stick to simple ideas while everyone else chased complexity. All of that is true. But I don’t think any of it explains why there will never be another Warren Buffett.

A true living legend, Warren Buffett is known as the CEO of Berkshire Hathaway (NYSE:BRK-B) and a brilliant stock picker. He focuses on value and, other than Apple (NASDAQ:AAPL) stock and Amazon (NASDAQ:AMZN),

In May, Buffett announced plans to retire as CEO of Berkshire Hathaway at the end 2025. Many investors will sorely miss his insights on the economy and stock market, but his recent $184 billion warning will likely echo through the next year: It hints at a stock market decline in 2026.

CEO Warren Buffett, 95, officially hands the reins over to his handpicked successor, Greg Abel. The official passing of the torch concludes Buffett's decades-long investing career, one in which he did everything from buying a major US railroad (Burlington Northern) and striking up a friendship with Microsoft (MSFT) co-founder Bill Gates to offering up scores of pithy comments in annual shareholder letters.

Ted Weschler, 64, is a value-oriented investor who joined Berkshire Hathaway as an investment manager in 2012.

Warren Buffett is one of those rare billionaires everyone feels like they know. He still lives in the same modest Omaha home he bought in 1958. He eats McDonald's and drinks Cherry Coke like lunch is a personal investment strategy.

Greg Abel, who's been overseeing Berkshire's non-insurance operations, will become the new CEO. Although Warren Buffett's short-term actions and long-term ethos didn't always align, he remained an unwavering value investor who looked to the horizon and never bet against America.