One key reason for Berkshire Hathaway's strength was the decision by Chief Executive Officer Warren Buffett and his team to raise cash in 2024. Last year, the company increased the amount of cash and short-term investments on the conglomerate's balance sheet by nearly 100% to more than $330 billion.

Berkshire Hathaway stock fell sharply early Monday on news that CEO Warren Buffett will be stepping down at year-end after 60 years of leading the company. Now, investors have to decide if it’s worth owning for the long term.

Berkshire Hathaway (BRK-A, BRK-B) stock was little changed on Tuesday, gaining about 0.2% in early trade following a 5% fall in the prior session after the conglomerate's board approved longtime CEO Warren Buffett's successor,