One of these lines represents the return due to the wisdom of the Oracle of Omaha, the unquestionable "what he says is law" asset manager who adds so much value to everything he does.. and the other is the S&P 500...
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It would seem, as Eagle Bay Capital's J.C.Parets notes that "Warren Buffett is a "closet Indexer"" with the correlation to the almost entirely free-to-trade S&P 500 of 0.98, where is the value being added?