Saturday, March 2, 2013

Buffett’s 5-year itch

Warren Buffett is feeling the heat.  In 2012, for the third time in four years, shares of Buffett’s Berkshire Hathaway trailed the Standard & Poor’s 500 — a position the Oracle of Omaha finds particularly distasteful.

Buffett called the 1.6 percentage point loss to the S&P a “subpar” performance.

“To date, we’ve never had a five-year period of underperformance, having managed 43 times to surpass the S&P over such a stretch,” Buffett wrote in his annual letter to shareholders.  The letter, anticipated by millions of investors and read for clues into Buffett’s investment strategy, promised an improved performance in 2013....

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