Credibly promising to be irresponsible...since 2004!
I think the reason WB can beat the market is that he's more of Venture Capitalist than a trader. His research is 100x more thorough than the average trader, who can't afford teams of analysts, or to go visit every firm.Then, he buys significant enough chunks of the firms so that he can influence their direction. ie. instead of buying one house in a bad neighborhood, he buys 10-20% of the neighborhood.
I think br hits on some of the areas where Buffet generates his alpha. That being said I still find David Hirshleifer's "Can individual Investors Beat the Market" convincing. Some people do have alpha.
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