“ do you still believe a retired person should be 90 percent invested in SPY?”

WEB has been very consistent over the decades. I’d venture a guess he’d say he’d obviously rather own Berkshire and given our managers, experience and skillset, he continues to see a good possibility of us modestly beating SPY over time.

However, I bet he still thinks the “know nothing” or investors that simply don’t want to commit the time and energy to analysis of companies would still be well served to invest in a very low-cost S&P index over the long-term, and perhaps beat 85% of money managers and their helpers.

Despite SPY’s concentration and valuation, WEB has been consistent in his perspective and opinions, and I doubt he’d change his response very much.

Far be it from me to know what the Oracle would say but, like many here, I’ve digested thousands of hours of his written and verbal words and that would be my best guess.

I actually really enjoyed the CNBC special tribute and thought they honored him well. I appreciated seeing and hearing from the children who seemed down to earth and committed to carrying out Warren’s wish and incredible philanthropy. I don’t envy at all their task of distributing hundreds of billions over the next couple decades, but I am glad they will be doing so as best they can.