Len: Buffett's investment skills have been proven time and again over the years and he's the richest man in the world as a result. Even though Berkshire Hathaway has become a giant corporation the stock continues to dramatically outperform the S&P500 index. Perhaps BRK is where some investors who don't have the time and skill to manage a portfolio should put their money ?
Buffett is a classic value investor and the fact that he's buying means that he's find undervalued stocks out there. I am too. Market crashes always create bargains for the saavy investor and trader. Irrational pricing develops in certain stocks for a myriad of reasons as the "baby gets thrown out with the bath water".
I agree that the DOW may yet hit new lows and that its performance may be rather mediocre in the years ahead. But the crash has provided a treasure trove of bargains that investors like Buffett are finding and buying on the cheap. Outperforming the DOW should not be a problem for those with the skills and patience to capitalize on this opportunity.