Berkshire Hathaway Inc (BRK.B)

[gfp927z]

>> size and scale <<

I remember that also happened with the Magellan Fund under Peter Lynch. With larger scale, the returns eventually fall back to the mean even for the greatest stock pickers in the world.

But there's a huge affection for Buffett, and Berkshire is like a family. Having decades of unrealized and untaxed capital gains will also discourage existing shareholders from switching to an S+P 500 fund.