Warren Buffett announced his retirement, designating Greg as the new CEO of Berkshire Hathaway. Despite stepping down, Buffett plans to remain involved during significant opportunities, particularly with Berkshire's substantial cash reserves, partly from selling Apple shares. Buffett's investment in Apple, initiated in 2016, has been a remarkable success, contributing significantly to Berkshire's performance, which has closely mirrored the S&P 500. This highlights the impact of a single winning investment amidst several costly missteps in other sectors.