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law of large numbers

Ahead for Berkshire Hathaway: Utility-Like Returns?

Warren Buffett’s 2009 Annual Letter Investors who expect Berkshire Hathaway’s future performance to match its historic returns are guaranteed to be disappointed. So who is the author of the above quote (paraphrase actually)? Some money manager or securities analyst trying to making their “bones” with a rare “sell” call on Berkshire Hathaway? (Full disclosure: Berkshire...
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