The title appears to be inaccurate. The fund has, on average, outperformed the market by 2%/year over 40 years, which works out to 120% outperformance with comp

The title appears to be inaccurate. The fund has, on average, outperformed the market by 2%/year over 40 years, which works out to 120% outperformance with compounding. That is far less impressive than beating the market consistently (i.e. every year) for 40 years. He's only done that for the last 7.