Warren Buffett’s Berkshire Hathaway has continued to outperform the market because it profits enormously from its property-and-casualty holdings, benefitting from the free use of $170 billion in customer premiums – the insurance “float.”

The Lindy Effect is the proven statistical calculation that the longer things have been around, the longer they’re likely to stick around. We know, from decades of observations, that public companies follow a definite Pareto Law power distribution.