No. of Recommendations: 4
So I can't prove it, but I am sticking with my hypothesis that ok results with good leverage have been the key to success, at least for the last 25 years.
Dad taught me - actions speak. So I don't argue with your observations. I would only add that Gen Re was a huge mistake. The stock Buffett issued has performed much, much better than the commodity insurance company he purchased, (And don't argue that the fixed income investments received funded additional acquisitions. They didn't. BRK never had to draw on them to make the acquisitions he did. The balance sheet - and his own words - say it was a huge mistake.)
But, if so, why are people so concerned about Berkshire after his passing?