When it comes to sound investment judgment, there is no more reliable voice than Warren Buffett. At the age of 94, after 60 years at the helm of Berkshire Hathaway, it should come as no surprise that he is stepping back from the fray.
His lair in Omaha, Nebraska, is far away from New York’s bright lights. But down the decades, he has been a lender of last resort at times of disruption.
When the investment bank Salomon Brothers ran into difficulties in 1990, amid a trading scandal, Buffett stepped in as chairman and cleaned up.
In 2008, when Goldman Sachs…
