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Interesting that his performance was essentially identical to the S&P over the past 30 years (Sortino 0.72 vs 0.69): https://testfol.io/?s=jJ4P0GrZxLi https://t
by verteu 9mo ago
Interesting that his performance was essentially identical to the S&P over the past 30 years (Sortino 0.72 vs 0.69): https://testfol.io/?s=jJ4P0GrZxLi https://testfol.io/?s=jJ4P0GrZxLi
I wonder how much is due to the market becoming more efficient, vs Berkshire's size / market impact?
- tim333 9mo agoProbably a bit of both. Berkshire's size means he was limited to the largest companies which are pretty well analysed. During that period he did some different things which some of his personal money like buying stock in Dae Han Flour Mills, a Korean flour miller that was like 2 times earnings in 2003 but was probably too small a position to make sense for Berkshire. (https://www.netnethunter.com/warren-buffett-cheap-stock-picks https://www.netnethunter.com/warren-buffett-cheap-stock-pick...)