The legendary US investor’s aversion to new-economy stocks might be a reason for the underwhelming returns for the world’s ninth-richest man.
Warren Buffett is worth $144 billion, which makes him the ninth-richest man on earth. Photo: AFP
But the problem is that an equal investment into a run-of-the-mill index-tracking fund 10 years ago would have generated roughly the same kind of returns. For perspective, a $200,000 investment in Apple stock 10 years ago would have made an investor a millionaire “nearly twice over”.the benchmark S&P 500 index in three of the last six years, including massive double-digit underperformances in 2019 and 2020.The so-called new-economy stocks—Nvidia, Alphabet, Facebook, Microsoft, Tesla etc—have driven the stock market for many years now.
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