Warren Buffett is a very rich man. He's very famous. He's an amazing investor. And people hang on to his every word.
However……….
Every time I hear about the "Oracle of Omaha", I have to cringe a bit, because the vast, vast majority of this man's fortune was made during the amazing wealth creation of the 80s and 90s. He'll be riding those coattails until his dying day. Not everything his says in the gospel. And not everything he does is destined to succeed. Plus – and most importantly – not every bullish pronouncement he makes can be embraced as objective.
Looking at the chart of Berkshire, in black below, you can see that over the past several years, it hasn't been anything to write home about. For a while, it was basically no better than owning SPY, and recently, it's been outperformed handily by just the general market. It's just a little unsettling that the public views him as infallible.
