Charlie and I believe the gain in Berkshire’s intrinsic value will over time likely surpass the S&P returns by a small margin.
Size is the enemy of performance and as Berkshire Hathaway increases in size, out performing the general market will become more and more difficult.
“I think I could make you 50% a year on $1 million. No, I know I could. I guarantee that.” — Warren Buffett
To help improve the meaning of these lyrics, visit “Letter To Shareholders 2012” by Warren Buffett and leave a comment on the lyrics box