Shares of Warren Buffett’s Berkshire Hathaway (Class A) have finished 2010 with a 21.4% return, outperforming the benchmark S&P’s 12.8%.The win reverses Buffett’s defeat in 2009, when the S&P’s 23.5% return clobbered Berkshire’s 2.7% number.Berkshire has beaten the S&P in four of the past five years, and six of the past ten years.

Article from: http://seekingalpha.com/article/245524-berkshire-hathaway-stomps-the-s-p-in-2010?source=feed

(Reuters) - NetJets Inc, the corporate aircraft unit of Warren Buffett's Berkshire Hathaway Inc (BRKa.N) (BRKb.N), said on Thursday it bought Marquis Jet, which has a program that sells flight time on NetJets planes.

Terms of the sale were not disclosed.

When it comes to stocks, few companies inspire more loyalty than Berkshire Hathaway (NYSE: BRK-A) (NYSE: BRK-B). But one long-time shareholder is selling Warren Buffett's famous investment vehicle in favor of a wider range of arguably more exciting prospects. What might be most surprising, though, is what this institutional investor is buying to replace its Berkshire shares.

Buddies with Buffett
Sequoia Fund has a long connection to Berkshire. Back in the late 1960s, when Buffett shut down his original investment partnership, he recommended that exiting partners consider investing their money with one of Sequoia's co-founders, Bill Ruane, who was a friend of Buffett's.

Here at MarketBeat we like nothing better than to point out when the sacred cows of the investment world turn out to be gobsmackingly incorrect. (If only, because it’s done so rarely.)

OMAHA, Neb.—Berkshire Hathaway Inc. says it had $3.81 billion in net income in the first quarter of this year, despite weaker earnings or losses for some of its insurance and reinsurance units.

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