Retail investors poured over \$24 million into Berkshire Hathaway’s Class B stock on Monday, signaling confidence in incoming CEO Greg Abel despite Warren Buffett’s announcement that he plans to step down as CEO by year-end. According to Vanda Research, this marked the highest net inflows into Berkshire’s B stock since 2016. The shares fell more than 5% during the session, one of their worst performances in recent years, following Buffett’s surprise declaration at the company’s annual meeting in Omaha. Buffett praised Abel and assured shareholders he would remain involved as chairman. Investors are now focused on Abel’s leadership, though he lacks Buffett’s reputation for stock-picking prowess. Buffett reiterated his commitment to Berkshire, stating he would not sell any shares and believes the company will perform better under Abel’s management. This influx of retail money suggests optimism about Berkshire’s future, even as the S&P 500 has declined this year. Berkshire’s vast cash reserves of over \$330 billion also position it as a potential safe haven in uncertain economic times. — new from CNBC
