The legendary investor, dubbed the Orace of Omaha for his money-spinning stock picks over the years, announced the move in his Thanksgiving message that he says will now become an annual tradition.

It's a striking coincidence that the total amount Buffett invested in Visa is almost identical to the amount lost on the Dexter Shoes blunder. In the former instance, the initial investment turned into a 15-bagger, plus an explosively growing income stream resulting from 14 prodigious dividend hikes. In the latter, shares went to zero.

Billionaire Warren Buffett warned shareholders Monday that many companies will fare better than his Berkshire Hathaway in the decades ahead as Father Time catches up with the 95-year-old icon, but he reassured them that he remains confident in his successor.