Berkshire Hathaway's shares have experienced a notable decline following a $3.8 billion write-down and weakness in operating profit, coinciding with Warren Buffett's announcement of his retirement timeline. Since May, the company's stock has dropped approximately 14%, underperforming the S&P 500 Total Return Index by 26 percentage points over the past 71 trading days, marking one of the sharpest underperformances this century. The market is adjusting to a post-Buffett era as Greg Abel prepares to take over leadership. Berkshire Hathaway reported a 59% reduction in quarterly profits amid this transition. Despite the stock decline and Buffett's retirement announcement causing a $28 billion decrease in his net worth, the company still holds $344 billion in cash. Analysts note that Berkshire's shares have underperformed the broader market by one of the largest margins in decades, reflecting investor concerns about the leadership change and recent financial results.