Opinion: This mutual fund may have cracked the ‘Buffett Code’ — Berkshire Hathaway’s secret sauce
For the 55 calendar years from 1965 through 2019, Berkshire Hathaway’s stock rose at an 18.6{dec8eed80f8408bfe0c8cb968907362b371b4140b1eb4f4e531a2b1c1a9556e5} annualized pace, versus 11.8{dec8eed80f8408bfe0c8cb968907362b371b4140b1eb4f4e531a2b1c1a9556e5} for the S&P 500 SPX, -1.34{dec8eed80f8408bfe0c8cb968907362b371b4140b1eb4f4e531a2b1c1a9556e5} . (Both returns reflect reinvested dividends.) Warren Buffett can take credit for this, and he appears to be very much in charge of Berkshire. But, given that he just…