Carta Berkshire 2016
comentada em 26/02/2017 18:54

"Both large and small investors should stick with low-cost index funds."

Deu uma cutucada nos fundos que cobram taxas altas. Tudo que ensinam aqui no fórum, no longo prazo os fera nenem dos grandes fundos perdem para os pequenos(mais ou menos isso). Fez até uma aposta de 1milhao de dólares a 9 anos atrás para mostrar isso e que vence esse ano. Now, to my bet and its history. In Berkshire’s 2005 annual report, I argued that active investment management by professionals – in aggregate – would over a period of years underperform the returns achieved by rank amateurs who simply sat still. I explained that the massive fees levied by a variety of “helpers” would leave their clients – again in aggregate – worse off than if the amateurs simply invested in an unmanaged low-cost index fund. (See pages 114 - 115 for a reprint of the argument as I originally stated it in the 2005 report.) The Arena for Accountable Predictions - Long Bets

Fundos ativos contra fundos de índices passivos, não importa o tamanho. Tanto que ele gosta do Fundo Vanguard.