Warren Buffett's Thanksgiving letter to Berkshire Hathaway shareholders outlined his plans to step back from his past duties when Greg Abel takes over as CEO.

While Berkshire turned in a strong quarter, the biggest takeaway continues to be Buffett's reluctance to buy stock, including his own. Buffett is set to hand off his investing duties to Greg Abel next year, and he's not making any big splashes on the way out.

Warren Buffett says he'll keep penning letters, and speed up his giving but retain a big Berkshire stake until his successor wins over shareholders.