If I could have any investment adviser in the world I think it would be Rick Ferri or Warren Buffet, but since my meager earnings don't qualify for either Rick's services (and Warren is currently busy) I find comfort in following Jack Bogle's advice whenever possible..
You can have Mr Buffet as your adviser, with the knowledge that your money is invested right alongside his. Today, it was about $111.00 per BRK.b share.
I counted 1774 investments (counting 19+ as 20) / 160 votes = 11.09
So eleven investments per vote appears to be about the mean.
No offense to Mr. Buffet but I don't feel I know him as well as Rick, who I know only from these forums. I like Mr. Buffet for what he has done and stated in his investing principles.. especially his recommendations regarding index funds. There is something in alignment with his goal and an index funds goal of keeping costs low. However an index fund is objectively measured by how closely it tracks its index. How do you measure Mr. Buffet in between yearly meetings? the current stock price is a poor measure as its a reflection of the mood of the market.
So in a way I'm a bit of a control freak.. I can check how close the index fund tracks its index anytime. Mr. Buffet I have to check over a longer period of time. I'm just not that trusting. And in recent years he's proven he can be fooled, by people he has hired, by companies he has invested in. No one man is perfect. Fortunately his mistakes are covered by the relatively small moves he makes these days. He himself has stated, he couldn't make the same relative profits he has in the past, and will not be able to (you can look at that wisdom at least two ways, lack of opportunities, or modest self appraisal).
Its the value of the holdings then that's the real value today and moving forward. The illusion that its an actively managed fund.. or that is simply another stock.. is that.. an illusion (and also an advantage it scares peoples off.. its a moat.. and Buffet actively defends that moat against raiders).
For all intents its a mutual fund with a nice blend and dividends from the insurance side that are not paid out to investors but reinvested as new money. Therefore there's room for mistakes. Mr. Buffet is very smart, he doesn't bet the farm when he goes to Vegas and seems unlikely too.. many other managers feel compelled to take ever greater risks.. he does not feel that pressure. And a team of people would simply magnify the feelings of compellation (peer pressure from within, or competition from within) and the potential for taking too much risk.
You could say why not just hold the 500 then? Ahh.. but there is also Mr. Buffet's oversight.. he weeds the garden as well as adds to it in a metered and rational manner.. and takes advantage of situations.. bides his time and keeps his powder dry.
Now I could be talking myself into circles and be completely wrong.. odds are.. quite probable.. so to defend against myself.. I only hold BRK in taxable accounts.. and Vanguard funds in non-taxable retirement funds. And I have the rather diffuse scattering effect of collecting stock options, or gifts of stock from unlikely places.. to dilute my resolution further.
The conversation over BRK and whether to own more or less is not over in my mind.. its an ongoing dialog.. and I watch the conversation between other people with intense interest. In that way it is pure entertainment.