No. of Recommendations: 0
At the scale of Berkshire these days, the opportunities for big wins from a few smart big investments are over, or nearly so.
Measured by impact on Berkshire's share value, maybe BNSF was the last-ever big win on the whole-company acquisition front, and maybe Apple will end up being the last big win on the public stock front.
Maybe the future portfolio managers will have to focus on which market sectors, or which markets to invest in? Just pump money into ETFs or investments like the sogo shosha?
I'm in the UK, and currently the FTSE 100 and FTSE 250 indexes look like candidates, for slightly different reasons. For both, sterling is relatively cheap on a medium / long term timeframe. The 100 is the huge stodgy companies at low/average valuations, a bond equivalent type investment, but with a little more growth. The FTSE 250 is not much different in valuation, a little more expensive, but provides a lot more diversification, a different sector blend and much better historical growth. Buy some of each?
SA
