Buffett is set to step back, but Berkshire won't be dragged down; instead, it seems opportunities are on the horizon.

Latest financial report highlights: Q3 operating profit soared 34% to $13.5 billion, net profit increased 17% to $30.8 billion. More importantly, the company now has $381.7 billion in cash on hand (a historical high), has not repurchased any shares for 12 consecutive quarters, and continues to reduce its stock investment portfolio.

What does successor Greg Abel have to face? A monster company with a market value of over $1 trillion, nearly 200 operating businesses, and a portfolio worth $306.7 billion. They are still continuing to buy Alphabet, and recently spent $9.7 billion to acquire Occidental Petroleum's chemical business.

Interestingly, this huge cash reserve gives Aibel tremendous flexibility - it can initiate dividends (which Buffett hasn't paid in 60 years), strengthen buybacks, or even initiate major acquisitions. The problem is, in an era of declining interest rates, having so much cash sitting idle may not be justifiable.

So the logic behind buying Berkshire stock right now is very simple: a well-run quality company, with a new leadership team that has plenty of ammunition, and the next chapter is full of imaginative possibilities.