Maybe it’s time we tune out Buffett’s reassuring folksiness and closely watch where Berkshire is aiming that cash-loaded bazooka. When relentless rain turned the Churchill Downs racetrack “sloppy” last Saturday — for only the 10th time in 151 Kentucky Derbys — I approached betting on the horses in the race exactly as Warren Buffett evaluates stocks for Berkshire Hathaway I bet conservatively on horses with the strongest fundamentals and a clear margin of safety.

Warren Buffett steps down as Berkshire's CEO. Despite recent disappointing financial performance, Berkshire Hathaway stock remains strong. Read the full stock analysis here on Seeking Alpha.

Billionaire Warren Buffett will remain chairman of Berkshire Hathaway after Greg Abel takes over as CEO at the start of the new year.