Collection: Charlie Munger - #47 'Why Wouldn't Berkshire Just Invest In The S&P?'

[Transcript]

AUDIENCE MEMBER 00:08

I'm curious has the Berkshire Hathaway equity portfolio outperformed the S&P over the last five or ten years? And if it has not, why wouldn’t Berkshire just invest in the S&P for its equity portfolio?

CHARLIE MUNGER 00:27

I think Warren, who is after all a mere boy of 89, thinks that Berkshire can do a little better than the S&P.

From this point. I don’t think many people can, but he may be right about himself and the team he has in place. It won’t be by huge margins, that I confidently predict.

(Source: https://youtu.be/X1Oi3esiry8)

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[YAPSS Takeaway]

Under the current market conditions, it is tough to beat the market.