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Quote of the Day

“There are a lot of people with vested interests who are still pushing these [alternative] strategies...You’re not going to get a million or five million or ten million a year to manage an institutional fund if you put the whole thing in index funds.”

(Richard Ennis)

Chart of the Day

Why Apple ($AAPL) has become an increasingly large part of Berkshire Hathaway’s equity portfolio. (chart via @ycharts)