Impressed. Not Impressed. -- Berkshire Hathaway -- Fiscal Year / Calendar Year 2020

Link here.

What am I missing?

This was the Bloomberg headline:

This was buried near the end of the story:

"Falling short." Holy mackerel. That's incredible. The oracle of Omaha, the Venerable Bede of investing, the superman of stock picking, the ... well, you get the point ... his fund gained 2% in a year when the market surged, when the S&P 500 apparently gained 16%. 

He overpaid --way overpaid -- for Precision Parts and sold Apple.

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