The Biggest Gap Between Your Modesty and the Outcome

Mr. Buffett, throughout your life, you are repeatedly under-promised and over-delivered. For one thing, we've had a terrific market that has reappraised all businesses in the last 10 or 15 years. So when we really started worrying about future performance, the key factor was having larger amounts of capital. And there's no question that the larger the amount of capital to work with, the more difficult the job is.