Warren Buffett is the most celebrated investor alive, but a fresh analysis from the Rational Reminder Podcast delivers an uncomfortable finding: across roughly the last 24 years, Berkshire Hathaway (NYSE:BRK-B | BRK-B Price Prediction) has lagged the total US stock market. The lesson buried inside that statistic is more important than the headline itself.

The Felix Finding: A Comparison Hostage to Dates

On episode #414 of the Rational Reminder Podcast (“Answering Your Financial Questions”), portfolio manager Benjamin Felix revisited a claim he made on episode 335: that Berkshire had underperformed VTI for 22 years ending October 2024. A listener re-checked the math on March 10, 2025 and found the opposite result. Felix then ran…