FA Center: This mutual fund may have cracked the ‘Buffett Code’ — Berkshire Hathaway’s secret sauce

For the 55 calendar years from 1965 through 2019, Berkshire Hathaway’s stock rose at an 18.6% annualized pace, versus 11.8% for the S&P 500  . (Both returns reflect reinvested dividends.) Warren Buffett can take credit for this, and he appears to be very much in charge of Berkshire. But, given that he just celebrated his 90th birthday, it’s clear that Buffett won’t be at the helm forever.

But if you invest in Berkshire   or by following Buffett’s well-known investing principles, your portfolio returns likely won’t suffer after…