
1997-Morning Session-BRK Annual Shareholders Meeting
Berkshire Hathaway Annual Shareholder Meetings (since 1994)
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The Headwinds Face U.S. Airways
Investment managers add value but it's comparatively rare in small percentage. Charlie, would you join me on that? I always say that exactly one fifth have to be in the bottom 20 percent. You know, you can't do it with unlimited amounts of money. Even a mediocre record presented by a good salesperson tends to attract money. But there are people working with smaller amounts of money where the probabilities are that they will do better than they will do worse.
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