Better Than Buffett

In today’s Daily Journal, Porter attempts to build a portfolio that’s based on the structure and asset allocation of Berkshire Hathaway’s, but that’s only made up of world-class businesses that, when measured objectively, are better than their Berkshire analogs.

The End Of My Career

Most people believe they must take risks and take on leverage and do all other kinds of financial wizardry because they’re not as smart as Warren Buffett. But that’s all nonsense. All you must do is buy the biggest and best businesses, in the best industries. That’s all. It’s obvious. And it’s easy.

Buffett’s Wilting Legacy

Berkshire Hathaway’s structure guaranteed investment success while Warren Buffett’s personal reputation made investing respectable. The combination showed, beyond any doubt, that capitalism was more effective than socialism. But since the Global Financial Crisis, Berkshire’s track record has been abysmal.