If I have my numbers right, using S&P 500, VBR (Small Cap Value), TLT, SHY, IAU for Gold, and rebalancing GB yearly....
If start with $1M on 12/31/2007, after nine years (through 12/31/2016), Buffett (S&P 500) is slightly ahead:
* $1,854,839 vs 1,806,878 for the GB
If had instead started on 12/31/2006, GB would be slightly ahead:
* $1,956,669 vs $1,976,725
In either event, it would be a lot closer race than the hedge funds are providing.
While GB has more consistent returns (less volatility), it has double the down years (2!) vs the S&P 500 in this timeframe...
And all this iswith gold being down 3 out of last four years and LTT down 2/4.
Using a purer Small Cap Value fund and/or switching SHY (5 years of <1% return) to iBonds, an online savings account, or STB could have put the GB in the lead....
