It’s Berkshire Hathaway’s worst year relative to the SP 500 in the last 10, not that it’s underperformed for 10 years.
(Using the metric of stock price, which is basically popularity and over the short term doesn’t necessarily correspond to any actual rationality. Ymmv, the market can stay irrational longer than you can stay solvent, etc)
(Using the metric of stock price, which is basically popularity and over the short term doesn’t necessarily correspond to any actual rationality. Ymmv, the market can stay irrational longer than you can stay solvent, etc)