Absolutely untrue. Most people today forget Buffet actually ran a hedge fund in the 60s, his limited partnership. It simply became too big in order to pursue his arbitrage/deep value style. Buffet was asked I believe in 1999 what annual return he could achieve in todays markets if he "only" had to manage $1 million. His reply was "about 40% annually". And he's not really known for running his mouth or feeding people BS.Quote from jtnet:
buffett lol
he doesnt trade anything,
just buys up companies and tons of stock and turns the company around, then onto the next
like surfer said, him starting now, would be nothing. he started in the american industrial revolution, not now where its ... the ipod/iphone revolution heh
There are HF managers today that use a similar style like Buffet did, e.g. S. Klarman of Baupost and he probably is running into similar problems Buffet did: lack of opportunities as AUM grow "too big". Baupost is I believe around $8 billion and 50% in cash for quite a while now.
