Subject: Re: Buffett must be filled with joy about this,
The fund is only trying to double BRK.B's return for a single day. Investors who hold the ETF for more than one day may get a return that is more, or less, than double the return of the stock over the same period.
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Hence the warning in the prospectus that "investors should not plan to hold shares of the Fund unmonitored for periods longer than a single trading day."
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"designed to be utilized only by sophisticated investors, such as traders and active investors employing dynamic strategies."

Yet there is this: https://testfol.io/?d=eJy9j7FO...

Of course, it helps that this period was a long bull market.

B&H 2X & 3X daily QQQ, 2010 - 2024

Name      CAGR      Max Drawdown        Volatility          
QQQ       18.87%    -35.12%             20.45%    
QLD       32.22%    -63.68%             40.83%    
TQQQ      41.74%    -81.66%             60.53%

For a $10,000 initial investment:

Name      Ending Value
QQQ        $127,374
QLD        $610,712
TQQQ     $1,698,514

In the words of my wife's best friend: "It's a great life if you don't weaken."