Subject: Re: Bought to close
selling calls will lower your portfolio volatility AND returns.

Is this a misunderstanding? We are talking about covered calls, to make some extra $. Why should selling Berkshire covered calls lower returns - if done conservatively, with a strike price high enough so that there is very low probability of the shares being called away?

If I am not completely mistaken there are several posters here who say they use this strategy since 10 or 20 years to constantly(!) add 2% or so to the returns of their Berkshire shares ( without ever or only once the shares having been called away).