New Delhi, March 8 -- When Berkshire Hathaway published its latest financial results, it attracted more than the usual attention for two reasons. First, the fourth-quarter and full-year earnings reports present the final report card for Warren Buffett's era as the conglomerate's chief executive. Second, it featured the highly anticipated debut shareholder letter from the company's new CEO, Greg Abel, who is inheriting a formidable legacy. Abel finds himself in a tough spot-he cannot deviate from the path set by Buffett, which has greatly benefited investors. Berkshire is sitting on a cash pile of over $373 billion, and Abel is under pressure to show more aggression.

The year 2025 marked a key transition at Berkshire Hathaway. Buffett ste...