As I wondered aloud in this comment and this one I penned some months back, it will be interesting to see how Buffet’s portfolio will fare going forward in what I think will be a deflationary environment for some years to come. In my opinion, Buffet’s portfolio is wholly geared towards inflation so that a hyperinflationary environment, as he predicted last year, should stand him in good stead.
Today, we have this.
” Warren Buffett recorded his worst performance against the stock market in a decade last year after committing $26 billion to a railroad takeover and lowering his expectations for investment returns.”
Nothing concrete yet but good anedoctal evidence for the time being.