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. ..the best way to own common stocks is through
index funds...
- Warren Buffett, Berkshire Hathaway
Inc. 1996 Shareholder Letter
Additionally, those index funds that are very
low-cost (such as Vanguard’s) are investor-friendly
by definition and are the best selection for
most of those who wish to own equities.
- see page 10 of Berkshire Hathaway
Inc. 2003 Annual Report
Over the 35 years, American business has delivered
terrific results. It should therefore have been
easy for investors to earn juicy returns: All
they had to do was piggyback Corporate America
in a diversified, low-expense way. An index
fund that they never touched would have done
the job. Instead many investors have had experiences
ranging from mediocre to disastrous. - page
5, 2004 Annual Report
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