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<i<I think Buffett believes that if he could have gotten more information on them a half century ago when he had less capital, he would have found even more great opportunities. I happen to believe he could earn 50% returns, focusing exclusively on companies valued under $1 billion.

Tom, what information beyond what was always (and still is) contained in the 10-Ks and -Qs is he referring to? Sell-side analysts' reports? He can get the information he needs faster, as can everyone else, but it's the same old, same old. He can't be referring to regulatory changes (e.g. S-O), as the regulatory playing field is level for everyone.

He could always take advantage of volatility, but quotes are available online and have always been in the papers. He seems to be saying that he now has an information advantage that he lacked earlier in his career. I guess the mystery is what information does he mean?

VS
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