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The Motley Fool ads for their newsletters have been repeating Buffet's comment about making 50% CAGR if he was dealing with smaller amounts, pumping it for all it's worth. Maybe so, but somehow I don't think reading a TMF newsletter will turn you into Warren Buffet.

Maybe smart guys can outperform the S&P 500 consistently.

i read an unauthorized biography of Buffett ..... he wasn't just smart (based on the book), he worked REALLY hard and was a little bit lucky.

and 'smaller' is relative ...iirc, he started with several hundred K$ ... equivalent of maybe several mill now.

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