I was messing around on the Check Capital Management site checkcapital.com: Check Capital | Trusted Financial Advisor in Costa Mesa, CA, a site which has been mentioned on these boards before. I saw two investment programs of theirs that I had not noticed before:
(1) one program does covered calls on Berkshire, the returns are better than their bond benchmark although at a higher standard deviation (is that tradeoff worth it to you?)
checkcapital.com - Investment programs
(2) the second program buys LEAPS on Berkshire, this beats their S&P500 benchmark significantly, again at higher volatility.
checkcapital.com - Investment programs

Comments
(1) It was interesting to see real stats on implementing a covered call strategy on Berkshire to get returns that are better than their bond benchmark, although with higher volatility. Berkshire should be pretty safe in terms of not going broke, so getting higher returns on something that is safe but maybe not as safe as T-bills, might be attractive to some. But is it worth the extra volatility, and what if you compare to being straight long?
(2) Using options to gain leverage on Berkshire has been discussed on this board, so it was interesting to see real stats on how an established capital management firm implemented this strategy over the years. Apparently it works well in juicing returns.