Description:  Many investors can only look on with envy when Warren Buffett says his shareholders have seen 20% annualized gains over the past 45 years — even the best mutual funds pale by comparison.

Source: Marketwatch.com

Date: 03/05/2010

Link:  http://www.marketwatch.com/story/buffett-and-berkshire-outperform-all-mutual-funds-2010-03-05?siteid=nwtwk

Questions for discussion:

• Summarize the reasons suggested for Buffett’s success when compared to mutual fund managers.
• Do you agree with the criticism of stock turnovers as described by Timothy Vick, senior portfolio manager at Sanibel Captiva Trust?