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Berkshire's Abel Maintains Daily Contact with Buffett

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Berkshire Hathaway's new CEO Greg Abel said he speaks with Warren Buffett nearly every day, underscoring the legendary investor's continued involvement at the conglomerate. Abel told CNBC that Buffett still comes to the office daily and the two maintain regular communication, discussing market developments and company operations.

Abel acknowledged the challenge of taking over Buffett's role as chief communicator to shareholders, particularly writing the annual letter to investors. He described it as the toughest responsibility transferred to him, with Buffett offering little encouragement by noting that the second letter doesn't get any easier. This succession transition has been closely watched by investors since Buffett stepped down as CEO after more than six decades.

The new CEO said Berkshire is unlikely to invest in cryptocurrencies, maintaining Buffett's long-standing skepticism of the asset class. However, Abel left the door open to technology-related investments, noting that Berkshire's operational use of technology helps develop strong views on certain technology companies. Buffett remains chairman of Berkshire Hathaway, providing continuity as the company navigates its leadership transition.