From the (terrible) article: "The Nicholas Fund, which he has run since 1969, has topped the Standard & Poor’s 500 Index by an average of 2 percentage points a

From the (terrible) article: "The Nicholas Fund, which he has run since 1969, has topped the Standard & Poor’s 500 Index by an average of 2 percentage points a year for the past 40 years and has beaten it every year since 2008. If you think that doesn’t make a big difference, consider this: A $10,000 investment in the Nicholas Fund in September 1974 was worth about $2 million in September 2014, roughly twice the value of the same investment in the index." Sounds impressive, but from http://en.wikipedia.org/wiki/Berkshire_Hathaway http://en.wikipedia.org/wiki/Berkshire_Hathaway : "Berkshire Hathaway averaged an annual growth in book value of 19.7% to its shareholders for the last 49 years (compared to 9.8% from the S&P 500 with dividends included for the same period)"