"All this hand-wringing over Berkshire and the index. If you want to perfectly match an index, why not just own that index?'

I expected a response like this... and of course some of my funds are in an index but far less than my Berkshire holdings.


The reason it is relative is the Index IS the option Warren recommends for the average person. I get he doesn't want to "promote" Berkshire even though Charlie was fine doing so.

Your response reminds me at what many active managers say when they underperform. "The market is expensive and not in touch with reality"

Meanwhile the average Booglehead enjoys the ride and outperforms.

I get this is a Berkshire board and it can be expected to get pushback on anything deemed critical of it. My favorite is the Board of Directors nepotism with the Buffett children.

To each his own.