The 87-year-old billionaire will retire after his term ends at the Kraft Heinz annual meeting of stockholders, the company said.
"In his early years, Jack was frequently mocked by the investment-management industry", Buffett said last year.
The new law lowered the tax rate paid by United States companies from 35 percent to 21 percent, allowing many to undertake major new outlays and others to book significant fiscal gains.
The billionaire and CEO of Berkshire Hathaway highlighted a $29 billion tax gain for his company, bemoaned a lack of good deals and reminded his readers that owning stocks through low-priced index funds was the best way to build wealth over time.
" At the end of 2017, Berkshire had more than $116 billion in cash and cash equivalents, up from almost $87 billion at the end of 2016".
"We expect Buffett's annual letter to reassure investors that his health remains remarkable and he intends to be around for awhile", said Cathy Seifert, equity analyst at CFRA Research in NY. "The remaining $29bn was delivered to us in December when Congress rewrote the USA tax code".
'Price seemed nearly irrelevant to an army of optimistic purchasers, ' Buffett noted.
"P$3 rices for decent, but far from spectacular, businesses hit an all-time high" a year ago, he wrote. That kept Berkshire from making the kinds of big deals Buffett prefers. He noted, however, that only $36 billion came from Berkshire's business operations. "If Wall Street analysts or board members urge that brand of CEO to consider possible acquisitions, it's a bit like telling your ripening teenager to be sure to have a normal sex life".
Putin's Chef Ordered Russian Mercenaries to Attack US
Moreover, its advanced features would prove to be of little use in anti-terrorist operations in Syria . The wealthy businessman who allegedly tried to influence the USA election with a "troll farm" in St.
Trump Delivers Animated and Freewheeling Moments in CPAC Speech
But, the president added, that's no reason for Republican voters to get complacent. Oh, I try like hell to hide that bald spot, folks. Today, he had the crowd eating out of his hands.
Ohio River likely to stay above flood stage for days — TIMELINE
By comparison, the historic 1937 flood, which prompted the creation of Huntington's floodwall, crested at a record 69.45 feet. We are finally looking at a few dry days Sunday and early next week, which may give the river the break it needs to recede.
A major reason for that decline was a $2.22 billion loss from insurance underwriting, Berkshire's first full-year deficit since 2002, hurt by Hurricanes Harvey, Irma and Maria and wildfires in California.
Net earnings per Class A equivalent share attributable to shareholders jumped to $19,790 from $3,823 previous year.
The Republican tax law was signed into law in December 2017.
Berkshire also owns clothing, furniture and jewelry firms.
Turning to investments, Berkshire's Apple holding was up to $28.2B at year-end, second only to Wells Fargo at $29.3B.
Buffett said it is a "terrible mistake" for investors with long-term horizons - among them, pension funds, college and endowments and savings-minded individuals - to measure their investment "risk" by their portfolio's ratio of bonds to stocks.