No. of Recommendations: 3
That's not to say success at their goal is definitely impossible, just unlikely in the extreme, especially in a corporate/fund environment. My Berkshire portfolio threw off well over 20%/year for over 20 years, though only on average. I conservatively assume that there is a blowup out there that has long had its eye on me.
I'm always amazed whenever you mention that you use leverage. Your logic always seems good, and your results have been great (and I gather you've not used large amounts of leverage), but using any leverage at all always surprised me.
Old pilots and bold pilots ... etc :-)
SA
