True that the insurance is the largest source of Berkshire\’s bottomline year-to-year. However, WEB delivers bigger chucks from \”trading\” opporuntities in the market. If not from the treasuries or foreign currencies, distressed bonds and international euqities just looking back most recent few years. The only difference to your average hedge fund is that all the gains are distributed to the shareholders and not to the handful of managers. It\’s much better than the mutual fund.
True that the insurance is the largest source of Berkshire\’s bottomline year-to-year. However, WEB delivers bigger chucks from \”trading\” opporuntities in the market. If not from the treasuries or foreign currencies, distressed bonds and international euqities just looking back most recent few years. The only difference to your average hedge fund is that all the gains are distributed to the shareholders and not to the handful of managers. It\’s much better than the mutual fund.