Warren Buffett warns ‘Father Time’ is catching up and reflects on his life in a letter to shareholders

Buffett also reassured shareholders that he remains confident in his successor, Greg Abel.

Billionaire Warren Buffett warned shareholders Monday that many companies will fare better than his Berkshire Hathaway in the decades ahead because of its massive size, though others might say the company’s prospects will dim because “Father Time” is catching up with the 95-year-old icon who plans to step down as CEO in January.