Buffett Prefers Balance Sheets, Trusts Role

Warren Buffett, who is 95 years old, recently stepped down as the CEO of Berkshire Hathaway.

He now serves as a corporate director, which he calls the best job in the world.

Buffett enjoys this role because it is enjoyable and comes with good pay and perks.

He also mentioned that Berkshire Hathaway has a lot of cash but hasn't found big enough deals to invest in.

Buffett believes it's important to have cash ready for unexpected opportunities.

Greg Abel, who has been with Berkshire for years, will take over as the new CEO.

Warren Buffett prefers looking at a company's balance sheet over its income statement because it's harder to hide or manipulate information on the balance sheet.

He reviews the financial statements of about 50 or 60 companies every month.

Buffett also emphasized the importance of trust in business, which is why he continues to work despite having more money than he needs.