Buffett/Sequoia Fund: The fund of funds?

Bill Ruane, a great friend of Warren Buffett, died in 2005. But he lives on in the Sequoia Fund he founded, managed since 1998 by Robert Goldfarb. The fund is open to new investors for the first time since 1982. Might it beat investing directly in Buffett’s Berkshire Hathaway? Ruane - who espoused the same value investing techniques and plain speaking as his friend - and Goldfarb have certainly turned in strong numbers. From 1970 to the end of March, the fund has returned a cumulative 15% a yea...