Warren Buffet is a genious, one does not get to be one of the best invesors of all times only by luck. However the fact that he is still holding on it is something that might work for him, you can do what he does yet get very different results.
i would laugh if Buffett just put in a market order on all of his holdings and when CNBC asks him why did he dump his entire portfolio he answers Because i can
Berkshire Hathaway is a mutual fund. The best mutual fund, he has constantly outperformed the S&P 500. Of course, like any mutual fund, when indices go down, so does the mutual fund. The S&P lost about 37% in 2008, BRK-A lost 34%, outperformed the S&P by 3%.
Buying at 70 cents on the dollar has paid very well over the last 30 years. Wonder what today's dollar will be in 5 though.
Buffett was an old has been in 1999 too. I mean, here he is buying carpet companies when RMBS is trading at 600 and MSTR was trading at 200. Old fart.