BRK vs SPX

Period	BRK	A&P
---------------------
1	**2%**	-3%
3	48%	**51%**
5	65%	**86%**
10	249%	**264%**
15	**305%**	293%
20	525%	**588%**

Watch out for demagogues and prophets of doom and gloom.
 
No need to jump over a higher hurdle 
( analyzing two column method, succession, PCC, Airlines, Oxy, Apple, Airlines, WFC, Insurance, Buybacks etc).  

Dollar coat average. Sleep well. Get rich slowly.
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“A&P”

Isn’t that a super market?

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Yeap supermarket of top 500 listed stocks…

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No need to jump over a higher hurdle
( analyzing two column method, succession, PCC, Airlines, Oxy, Apple, Airlines, WFC, Insurance, Buybacks etc).

Dollar coat average. Sleep well. Get rich slowly.

I was musing on this just the other day. I first bought Berkshire at the start of 1999 (terrible valuation at the time, I know, now).

What if a person had DCA into SPY or Berkshire from then till now?

https://www.portfoliovisualizer.com/backtest-portfolio?s=y&a…

Advantage Berkshire, but not by much.

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You made me curious. Did not Graham discuss A&P’s decline in The Intelligent Investor? I had no idea they were as dominant back around WEB’s birth. No wonder the Grandpa Ernest Buffett Store fought an uphill battle for 100 years before closing its doors. From A&P Wikipedia:

“In 1930, the corporation’s 16,000 stores reached $2.9 billion in sales,[19] resulting in a 25% grocery-store share in its operating areas, and about 10% nationwide. No retail company had ever achieved these results. A&P was twice as large as the next largest retailer, Sears, and four times that of grocer Kroger. Unlike most of its competitors, A&P was in excellent position to weather the Great Depression.”

Wow, impressive business run, from pre-Civil War to the bankruptcy in 2015. Interesting that we own a lot of Kroger now.

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S&P is very hard to beat. It is resilient, adaptable, relentless and a long track record.

Dollar cost averaging in S&P is simple.

In fact it is so simple that most “smart” investors (including WEB) think they can out perform it handily.

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