In eight of those nine years, it should be noted, the S&P had a gain of 15% or more. We do better when the wind is in our face.

from Warren Buffett – Letter To Shareholders 2012 on Rap Genius

Meaning

Only when the S&P is blowin up does it beat Berkshire — Warren uses this as evidence that Berkshire has slow and steady growth, a sign that they are avoiding erratic investments

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