David Rosenthal: uncertainty

Transcript context

…Let me pause before you go into 1961. Just to recap a few of the returns here year over year. The second year, he made 41%. The third year, he made 26%. The fourth year, 1960, he made 23%. All while the Dow is having some good years, some bad years. It's losing money sometimes, it's making money sometimes. Warren hasn't lost a dollar. He's outperformed every single year, he stayed positive every year. In fact, the partnership results as a whole so far, if you compound over those four years, are 141% compared to the Dow's 43%. Whatever Warren is doing is working. Wow. I don't have the Dow numbers in 1961, so I don't know relatively how good this performance was. The Dow numbers in 1961 are 22.4%. A pretty good year.…

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