Berkshire had a float of some $77 Billion closing out 2013. The float had a negative cost which is the ultimate in leverage.
Traditionally Berkshire has not paid a dividend. The smartest investor in our time delivered outstanding long-term gains. When the torch passes the newbies as brilliant as they probably will be, will need to prove their value to investors. Nothing like a buy and hold investment with a constantly increasing dividend.
The management team is excellent and can be expected to generate above average returns well into the future.
The portfolio is well diversified into many many different businesses.
George Gutowski writes from a caveat emptor perspective.