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