With bated breath I computed the stats on Smeads value funds SMVLX, and compared to BRK (and to SPY, for fun).
I continue to be disappointed by the price performance of funds of Buffet-like folks, and of funds of other managers of good reputation.

Below are some stats for the Smead value fund compared to BRK and to SPY.

From 2008-01-03 (first date of common data):

                                BRK        SMVLX    SPY
Annualized Return              9.541%     10.12%   10.27%
Annualized Std Dev             22.4%      21.72%   18.69%
maxDrawdown                    53.86%     56.36%   55.19%

GreatRecession and Pandemic drawdowns:

BRK:   GreatRecession -53.86%, Pandemic -29.57%
SMVLX: GreatRecession -56.36%, Pandemic -39.56%
SPY:   GreatRecession -55.19%, Pandemic -33.72%

CONCLUSION:
SMVLX annualized return is about half percent better than BRK since 2008 and is comparable to SPY.
SMVLX drew down a lot worse than BRK and SPY in the pandemic.
SMVLX drew down a bit worse than BRK and SPY in the Great Recession.

Last time I looked at Joel Greenblatt's funds, their performance was unimpressive.
Same for Mebane Faber's funds, and for alphaarchitect funds.

Whether SMVLX or some other fund is perhaps predictable based on their price-to-valuation, as Jim has demonstrated for BRK, is a separate issue. Investing with leverage when BRK is undervalued and lightening up when overvalued is a twist not captured in the above statistics.