Subject: Re: The Berkshire Problem
You were still holding big profitable stable firms making a lot of money, so individual picks didn't tank, and the returns of ~6%/year were relatively steady...you just didn't do nearly as well as a monkey with a dartboard would have. A portfolio of genteel mediocrity.

Hmmm. I could imagine quite a few people liking those kind of results. Ok, some of the time and good / very good at other times. And holding relatively conservative / orthodox, large-cap shares. Thanks for the reminder.

I used to like the sound of YEY a lot but I guess returns of zero or less for years on end would be v hard to take.

SA