I thought it was the Oracle of Omaha...
£16billion gain? What a letdown, says elephant-hunter Buffett
Not many investors would describe a gain of £16billion in a year as ‘sub-par’, but Warren Buffett (pictured), the evergreen American guru, is no ordinary fund manager. The octogenarian legend, known as the Sage of Omaha, pointed out in his annual letter to investors in his Berkshire Hathaway vehicle that Berkshire’s book value gain of 14.4 per cent lagged the S&P share index rise of 16 per cent. That, Buffett said, was a disappointment, as it is his job to outperform. The other major letdown, he said, was his inability to do a big deal in 2012. ‘I pursued a couple of elephants but came up ... (full story)