Subject: Re: Swedroe on WEB
"Although I can't prove it, I am guessing that this leverage has been responsible for most of Buffett's superior returns, not the fact that he picked great stocks. Would you dispute this claim?"

I think the success of the Apple pick by itself disputes this claim

Sure we could debate where the $30b of so came from to by the position but that doesn't take away from the guts required to go in that deep.