Why Berkshire May Beat The S&P 500 Over The Next Decade

The article is an opinion piece comparing Berkshire Hathaway with the S&P 500 as long-term investments. It argues that while the S&P 500 outperformed Berkshire over the last decade, that result was driven by a narrow, tech-heavy rally and unusually high index concentration. The author highlights Berkshire’s defensive qualities, including its historical resilience during market turmoil and its large cash position as potential dry powder for a future market reset. Valuation is presented as a key contrast: the S&P 500 is described as expensive, while Berkshire is near its historical valuation average. The conclusion is constructive on both, but more favorable to Berkshire, with the author rating Berkshire a buy and the S&P 500 a hold.