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Eating your own dog food

One of my favorite phrases, that I never get to use!, is “eating your own dog food.”

It might surprise you to learn that many active managers don’t invest their money in their own funds… they prefer passive index funds. Hmmm…

How Do Active Managers Invest Their Own Money? [The Big Picture] – “Many of the comments from active managers were eye-opening, but none more than “All my own money is in index funds” topped only by “I wouldn’t invest in my own fund.”” You don’t say!

Warren Buffet released his letter to Berkshire Hathaway shareholders for 2022. I enjoy reading these letters and I hope you do too!

2022 Letter to Berkshire Hathaway shareholders – “At this point, a report card from me is appropriate: In 58 years of Berkshire management, most of my capital-allocation decisions have been no better than so-so. In some cases, also, bad moves by me have been rescued by very large doses of luck. (Remember our escapes from near-disasters at USAir and Salomon? I certainly do.) Our satisfactory results have been the product of about a dozen truly good decisions – that would be about one every five years – and a sometimes-forgotten advantage that favors long-term investors such as Berkshire. Let’s take a peek behind the curtain.” Time is your best friend!