From Investment Intelligencer
The Oracle delivered some secrets of intelligent investing in a press conference following the Berkshire Hathaway annual investor meeting:
- Buy low-cost index funds, which will outperform the majority of other investors (the vast majority).
- Avoid hedge funds.
Buffett also said he hoped that Berkshire would outperform the S&P by a couple of percentage points (which wouldn’t be surprising, given the value effect). He added that he would be "amazed" if Berkshire did any better than that.
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