Buffett says retirement not imminent

[CNN Money]

Buffett says retirement not imminent
Famed investor also reiterates that market returns should be moderate; sees dollar weakness down the road.

March 20, 2006: 12:54 PM EST

NEW YORK (Reuters) - Warren Buffett, the 75-year-old billionaire investor and chairman of insurance and industrial conglomerate Berkshire Hathaway, Monday said investors shouldn't expect him to retire any time soon.

He also said they can expect market returns of 6 to 8 percent a year, and reiterated his view that the dollar will weaken over time.

Buffett earlier this month, in his annual letter to Berkshire shareholders, said the board had chosen a successor, though he declined to name the person or specify when the handover will occur. On Monday Buffett said it will be "some time" before he retires.

"I hope it isn't too soon," Buffett said from the floor of the New York Stock Exchange, where he rang the opening bell to mark his recent purchase of press release-publisher Business Wire.

Buffett said he broached the succession issue in the letter because so many investors were asking about it.

"I've got a little way to go before I retire," Buffett said. "It could be some time."

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