Subject: Re: Trailing the index again
SPY vs BRK.b

10 years: same
https://stockcharts.com/freech...

20 years: same
https://stockcharts.com/freech...

25 years: BRK, oh boy!
https://stockcharts.com/freech...

15 years: SPY
https://stockcharts.com/freech...

5 years: SPY
https://stockcharts.com/freech...

YTD: SPY
https://stockcharts.com/freech...

I believe Jim's explanation: SPY has gotten more expensive (and acknowledge that Jim has been saying SPY is overvalued for a decade).
That does not mean that Berkshire will win. Berkshire isn't cheap right now, has strong headwinds, and of course Buffett will not be around for another decade.
I'm hoping Berkshire will be somewhat better than SPY in taxable.