I think he was referring to the "average" investor, and I believe he even cautioned people not to do what he does. Not too many of us are in his league.
Godfrey-- exactly why I have held & traded brk for decades. Look back 7 years and you could have bought BRKA for $35K -- today it is slightly more than double that. Foreven greater returns trading the B shares works,,,,,, and is fun too.